{"title":"Financial Literacy and Stock Price Informativeness: a Cross-Country Study","authors":"Anita Todea","doi":"10.2478/subboec-2018-0004","DOIUrl":"https://doi.org/10.2478/subboec-2018-0004","url":null,"abstract":"Abstract This paper examines the impact of financial literacy on stock price informativeness in a sample of firms from 20 countries. Using four measures of stock price informativeness, we find a significant relationship between higher financial literacy and higher stock price informativeness. The individual investors’ contribution regarding the incorporation of specific information into stock prices includes private information also and not mere specific information in the general sense. Financial knowledge is the key element that helps individual investors to incorporate specific information into stock prices.","PeriodicalId":40872,"journal":{"name":"Studia Universitatis Babes-Bolyai Philologia","volume":"48 1","pages":"63 - 72"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78751843","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"What Mongolia Produces that the World Should Know About? Consumers’ Information Processing Mechanisms","authors":"Tuul Purevdorj, S. Silva","doi":"10.2478/subboec-2018-0005","DOIUrl":"https://doi.org/10.2478/subboec-2018-0005","url":null,"abstract":"Abstract The present study attempts to understand the use of three information processing mechanisms – cognitive, affective, and normative – to assess the quality of cashmere products made in Mongolia. For attaining the above aims, semi-structured interviews were conducted to test a framework that resulted from literature reviewed on country of origin (COO) effect and information processing mechanisms. Results demonstrate that for Business-to-Business (B2B) clients, the COO is an extremely relevant cue to evaluate the quality of cashmere. Conversely, most of the consumers do not seem to include the COO effect on their information processing and base their evaluation on four distinct product-related attributes: quality, brand, social status, and price. Results are relevant for the Mongolian cashmere industry, as well as for marketers interested in understanding what drives consumers of cashmere in their buying decisions. We also understand these findings to assist in improving the image of Mongolia as one of the world’s best manufacturers of cashmere.","PeriodicalId":40872,"journal":{"name":"Studia Universitatis Babes-Bolyai Philologia","volume":"14 1","pages":"73 - 89"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81634106","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The 20 Keys Methodology – Continuous Improvement for Organizational Efficiency","authors":"A. Erceg, Predrag Dotlić, M. Mikuš","doi":"10.2478/subboec-2018-0002","DOIUrl":"https://doi.org/10.2478/subboec-2018-0002","url":null,"abstract":"Abstract Increased organizational efficiency should be one of the main strategic goals of every business. Ways of achieving it differ and one of the many choices is to improve business operations using available tools such as the “20 keys methodology”. This methodology is used to achieve strategic goals through the enhanced speed of learning and innovation. The aim of this paper is to look at the potential of 20 keys methodology for the improvement of company’s organizational efficiency in today’s global market. This integrated set of different tools is intended to increase the company’s efficiency and level of quality with synchronized cost reduction. 20 keys tend to eliminate various “wastes” in production processes to improve buyer’s satisfaction and motivate employees to act towards achieving company’s goals. Eventually, the methodology application should ensure a sustainable development, profitability, and integrated approach to competitiveness and long-term success of the company. The paper examines the implementation of the 20 keys methodology in Croatia and presents one case of a local production company using the methodology aiming to increase the organizational efficiency. Further research proposals are brought to confirm the potential influence of methodology on organizational efficiency.","PeriodicalId":40872,"journal":{"name":"Studia Universitatis Babes-Bolyai Philologia","volume":"56 1","pages":"20 - 36"},"PeriodicalIF":0.0,"publicationDate":"2018-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74014131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Zeeshan Fareed, Z. Ali, F. Shahzad, M. Nazir, Assad Ullah
{"title":"Determinants of Profitability: Evidence from Power and Energy Sector","authors":"Zeeshan Fareed, Z. Ali, F. Shahzad, M. Nazir, Assad Ullah","doi":"10.1515/subboec-2016-0005","DOIUrl":"https://doi.org/10.1515/subboec-2016-0005","url":null,"abstract":"Abstract The study examines the impact of key determinants of profitability of power and energy sector in Pakistan such as firm size, firm age, firm growth, productivity, financial leverage and electricity crisis discussed in the broader inter-disciplinary literature. For this purpose panel data of 16 firms of power and energy sector is taken for 2001 to 2012. The study considers profitability determinants at the firm as well as industry affiliation levels in examining hypotheses developed from resource-based approaches. Random effect model is used to detect the combination of variables that best estimated the impact of the explanatory variables on the dependent variable. The empirical results suggest that firm size, firm growth, and electricity crisis positively impact the profitability. However, firm age, financial leverage and productivity negatively influence the firm profitability. This study also propose that during the electricity crisis the profitability of power sector is increased even production of this sector is very low. The findings further indicate that larger and younger firms with high growth and low productivity are more likely to be profitable. This study has found that firm productivity and firm size are the strongest determinants of profitability in power and energy sector of Pakistan.","PeriodicalId":40872,"journal":{"name":"Studia Universitatis Babes-Bolyai Philologia","volume":"16 1","pages":"59 - 78"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77735095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Supply Chain Management and Customer Satisfaction in Small to Medium Enterprises","authors":"O. Omoruyi, C. Mafini","doi":"10.1515/subboec-2016-0004","DOIUrl":"https://doi.org/10.1515/subboec-2016-0004","url":null,"abstract":"Abstract To circumvent the possibility of business failure, small to medium enterprises in emerging economies face mounting pressure to increase the satisfaction of their customers. The adoption of supply chain management practices is critical to the provision of quality products and services as well as the satisfaction of customers by small to medium enterprises. This paper investigated the relationship between customer satisfaction, supply chain management practices and three input factors; namely, product quality, flexibility and product variety in small to medium enterprises. The study adopted a quantitative approach in which a four section questionnaire was distributed to 131 managers in small to medium enterprises based in Gauteng Province, South Africa. Hypotheses were tested using regression analysis. The results of the study revealed that product quality and flexibility predicted supply chain management practices. Supply chain management practices were also statistically significant, and mediated the relationship between customer satisfaction and product quality and flexibility. Based on these results, conclusions were drawn and appropriate recommendations were made.","PeriodicalId":40872,"journal":{"name":"Studia Universitatis Babes-Bolyai Philologia","volume":"13 1","pages":"43 - 58"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91361953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Understanding Changes on the Country-of-origin Effect of Portugal","authors":"Susana C. Silva, L. Saraiva","doi":"10.1515/subboec-2016-0001","DOIUrl":"https://doi.org/10.1515/subboec-2016-0001","url":null,"abstract":"Abstract The purpose of this study is to understand the international perception of Portugal, as well as the strategies used by Portuguese companies to overcome any possible negative country-of-origin (COO) effect. The paper focuses on companies belonging to different Portuguese businesses: wine, footwear and electromechanical. Cases were chosen because of the dynamic process that was correctly put forward at different levels. The results show that Portuguese companies are interested in getting to know how to accommodate or be part of that dynamic process, as this seems to be crucial if they want to succeed in international markets. The perception of Portugal is improving, and there seems to be signs of a positive COO effect being created in some instances. Most of the achievements are due to the previous success of Portuguese businesses and businesspeople in international markets that have been able to create a positive reputation. The key to success seems to be rooted in how companies combine their unique resources with technological innovations and strategic tools, backed by public policy. This study contributes to enhance the knowledge of managers on the COO effect and its effects on companies, by presenting different levels of analysis: company, industry and country level.","PeriodicalId":40872,"journal":{"name":"Studia Universitatis Babes-Bolyai Philologia","volume":"10 1","pages":"19 - 3"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89521950","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}