Global Business & Economics Anthology 

                         Volume II, December 2006

 

 

The Global Business & Economics Anthology is an international refereed publication, published

annually (December) by the Business & Economics Society International, with original papers selected

from the Society’s annual Conference.

 

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                                                                                  EDITOR:

                                                                          Demetri Kantarelis

                                         

                                                                             REVIEWERS:

                                                           (In Alphabetical Order)

 

Aba Ibrahim, Nurhani

Abdou, Amin I.

Abu-Rashed, Jamal

Alexis, Gwendolyn Yvonne

Alhadeff, Peter

Allen, David

Anon Higon, Dolores

Ardalan, Kavous

Aurelio, Jeanne M.

Bangert, David C.

Benamraoui, Abdelhafid

Berg, Nathan

Bergami, Roberto

Bhaskar, Vashishta

Bianchi, Robert J.

Bilas, Vlatka

Bitzenis, Aris

Borrmann, Jörg

Bruna, Karel

Buckvald, Evgeny

Budihardjo, Andreas

Byrd, Kimble A.

Carter, Steve

Cenan, Danijela

Chen, Shan-Yu

Cho, Joo Hyun

Cichello, Micahel S.

Clark, Robert

Clayton, Bruce

Collier, Joel C.

Costa, Roberta

Damjanic, Zdenka

Daskou, Sofia

de Kervenoael, R. J.

De Mel, Sandy

Decker, David R.

Delsen, Lei

Dion, Michel

Divisekera, Sarath

Djavanshir, Reza

Efstathiades, Andreas

Eiamkanchanalai, Somkiat

Eibel-Spanyi, Katalin

Elger, Thomas

ElKelish, Walaa Wahid

Elkin, Graham

Erickson, Scott

Ettlie, John E.

Figueira, Catarina

Fourie, Helena

 

 

Gazely, Alicia M.

Godinho, Pedro Manuel Cortesao

Gomez-Del Valle  , M. Lourdes

Halicioglu, Ferda

Hart, Neil

Herbert, Theodore

Hongcharu, Boonchai

Horiba, Yutaka

Hu, Mei-Chih

Hunjak, Tihomir

Iooty, Marina

Joiner, Therese A.

Jones, Philip

Kabbani, Nader

Kamil Ibrahim, Muhd

Kondoh, Kenji

Koufopoulos, Dimitrios N.

Koumanakos, Evangelos P.

Krivogorsky, Victoria

Kuenzel, Sven

Kula, Maria Cornachione

La Van, Helen

Lai, Ming-Ling

Lazaridis, Ioannis

Liang, Wen-Kuei

Ligthelm, Andre A.

Macdissi, Charbel

Macek, Anita

Maiksteniene, Kristina

Mamudi, Mohit

Marchante, Andres J.

Marks, Andrew

Marktanner, Marcus

Martinez-Rodriguez, Julia

Martinez-Serrano, J. A.

Mehanna, Rock

Mirmirani, Sam

Mohd Kassim, Norizan

Moskowitz, Sanford L.

Nigohosian, Robert. H.

Novak, Michael

O’Neill, Charles

Ohana, Marc

Once, Saime

Ozturk, M. Canan

Pena Cerezo, Miguel Angel

Petrick, Joseph A.

Petrochilos, George

Petsas, Iordanis

Pires, Guilherme D.

 

 

Pok, Wee Ching

Radder, Gerrit

Radder, Laetitia

Rajagopal

Ramady, Mohamed A.

Reedman, Evan M.

Rochina-Barrachina, Maria E.

Roney, Jennifer

Ross, Linda W.

Rowley, Jennifer

Saee, John

Salavrakos, Ioannis-Dionysios

Shahkovskaya, Larisa S.

Sherman, Robert

Simpson, Wayne

Sims, Mary L.

Singh, Hari

Sintim-Aboagye, Herman

Skuflic, Lorena

Springler, Elisabeth

Staber, Udo

Stewart, Chris

Stiglingh, Madeleine

Sun, Chia-Hung

Taghavi, Mehdi

Teachout, Mark S.

Tenker, Nejat

Tetik, Nilufer

Theocharous, Antonis L.

Tipuric, Darko

Topyan, Kudret

Trifonova, Silvia

van Der Bank, Riana

van Der Merwe, Alex

Vaughan Williams, Leighton

Veloutsou, Cleopatra

Voola, Jo

Vranes, Sanja

Vu, Jo Chau

Vyas, Bindu

Whitefield, Despina

Wolter, Stefan C.

Yan, Ho-Don

Yu, Tiffany

Yuan, Kuo-Chih

Yuce, Ayse

Zhao, Zhong

Zoricic, Davor

 

 

 

         Global Business & Economics Anthology 

                       Volume II, December 2006

 

 

CONTENTS

 

Management & Ethics

 

Towards a Universal Platform for CSR: The Role Of Communication In

Global Corporate Social Responsibility.                                                                                                    1

Mohit Mamudi, CEO Amacom UK Ltd, UK.

 

Directors’ Accountability On Issues Of Financial Literacy And Governance.                                              8

Julie Margret, La Trobe University, Bundoora Victoria, Australia.

 

Managerial Cognitive State Of Cultural Diversity And Its Managerial Application:

An Empirical Study With International Implications.                                                                                 18

John Saee, Swinburne University Of Technology, Australia.

 

The Complexity Of Networked Supply Chain.                                                                                        26

Weiqi Li, University Of Michigan-Flint, U.S.A.

 

Information As A Tool For Management Decision Making - Empirical Evidence

From Croatia.                                                                                                                                         38

Darko Tipuric, Domagoj Hruska & Ana Aleksic,

University Of Zagreb, Croatia.

 

Human Capital As Source Of Croatian Competitiveness.                                                                         48

Nina Poloski Vokic, Dubravka Sincic, & Ana Tkalac Vercic,

University Of Zagreb, Croatia.  

 

Organizational Learning And Its Effects Through Launching

International Joint Ventures.                                                                                                                    55

Wen-Kuei Liang, Tatung University, Taiwan.

 

 

Marketing

 

A Conceptual Framework Of Interactive Marketing: Characteristics And Processes Of

Interactive Media In Integrated Marketing Communication.                                                                     64

Boonchai Hongcharu, Graduate School Of Business Administration

National Institute Of Development Administration (Nida), Thailand; &

Somkiat Eiamkanchanalai, Chulalongkorn University, Thailand.

 

Innovation: Principal Challenges For The New EU.                                                                                  73

Katalin Eibel-Spanyi, Eastern Connecticut  State University, USA.

 

 

Accounting

 

The Extent Of Compliance With Income Tax Presentation and Disclosure

Requirements In Financial  Statements Of Companies In South Africa.                                                     83

Christelle Meyer, Madeleine Stiglingh & Elmar Venter,

University Of Pretoria, South Africa.

 

Interaction Effects Of Labor Co-Determination and Internal Corporate

Governance Mechanisms On Profitability.                                                                                               96

Victoria Krivogorsky & Sharon Lightner,

San Diego State University, USA.

 

 

Finance

 

Use Of Copulas For Risk Measurement: Dependence, Correlation and

Nonnormality.                                                                                                                                       110

Kudret Topyan & Natalia Boliari, Manhattan College, USA.

 

Monetary Policy And Yield Curve Volatility: The Case Of The Swap Market

In The Czech Republic In 1999 Through To 2005.                                                                                116

Karel Bruna, University Of Economics In Prague, Czech Republic.

 

A Simple Chi-Square Method For The Analysis Of Time Dependence In Security

Rates Of Return.                                                                                                                                   129

Pedro Manuel Cortesao Godinho, GEMF and

University Of Coimbra, Portugal.

 

EU Accession Decisions As A Major Driver Of Croatia's Equity Market.                                              141                                         

Vlatka Bilas, Hrvoje Josic & Mislav Josic

University Of Zagreb, Croatia.

 

Do Asset Prices Contain Information About Future Economic Performance?                                         149

Ana Rimac, University Of Split, Croatia.

 

 

Entrepreneurship

 

Social Capital In Entrepreneurial Clusters: A Review And Research Agenda.

Udo Staber, University Of Canterbury, New Zealand.                                                  159

 

Disaggregating The Unrecorded Economy of South Africa: Methodological

Considerations and Measurement.                                                                                                         171

Andre A. Ligthelm, University Of South Africa, South Africa.

 

Corporate Entrepreneurship In Croatia.                                                                                                 182

Marko Kolakovic & Bojan Moric Milovanovic,

University of Zagreb, Croatia.

 

 

Human Resources

 

Organisation Change, Miracle Or Nemesis?                                                                                          193

A Case Study Of A Midlands College, UK And Its Sixth Form Centre.

Sue Bowen, Adult Learning Co-ordinator, a Midlands College, UK; &

Steve Carter, University of Derby, UK.

 

Significance Of Ownership Of Aged Care Facilities In Australia.                                                            211

W. Kathy Tannous & Kehui Luo, Macquarie University, Australia.

 

Cultural Impact on Access to Elder Care.                                                                                              225

W. Kathy Tannous, Macquarie University, Australia.

 

Youth Unemployment And Employment Subsidy Programmes.                                                              236

Yoshihiko Fukushima, Nagoya University of Commerce & Business, Japan.

 

 

Macroeconomics & Monetary Economics

 

Fiscal Policy And The Macroeconomy: Some Common Misconceptions

And A Reassessment.                                                                                                                           248

Neil Hart, University Of Western Sydney, Australia.

 

Reducing External Indebtedness In the Croatian Economy.                                                                    257

Marijana Ivanov, Tomislav Coric & Davor Zoricic,

University Of Zagreb, Croatia.

 

Fiscal Decentralization: Raising Issue In Croatia.                                                                                    270

Hrvoje Šimović & Ana Andabaka, University Of Zagreb, Croatia.

 

 

Microeconomics & Industrial Organization

 

Emerging Social And Economic Networks In Evolving Agent Societies.                                                 283

Chris Manolopoulos, Research Academic Computer

Technology Institute, Greece.

 

On The Actual Standard And Logic Of Individual Preference Behaviors.                                               296

Yasumi Matsumoto, Waseda University, Japan.

 

Financing New Technology-Based Firms: A Study In Greek Banking Sector.                                        308

Ilias Makris, University of Patras &

Kalamatas’ Technological Institute, Greece.

 

Do Agency Costs Inhibit Foreign Collaborations By Family Firms?

An Empirical Investigation.                                                                                                                    319

Hari Singh, Grand Valley State University, USA.

 

The Analysis Of Corporate Social Responsibility Applications.                                                              326

M. Canan Ozturk & Mine Ayman

Anadolu University, Eskisehir, Turkey.

 

 

Banking

 

Decision Making Characteristics Of Board Members – An Empirical Study

In Croatian Banks.                                                                                                                                337

Darko Tipuric, University Of Zagreb, Croatia;

Vedrana Carevic, Hvb Splitska Banka, Croatia; &

Mirna Korican, Zagreb School Of Economics & Management, Croatia.

 

 

International Economics & Globalization

 

Ethics In International Business: It Is Actually More Beneficial For Companies

To Be Good Corporate Citizens In Our Global Economy.                                                                     351

Mary L. Sims, Esquire, Arcadia University, USA.

 

Risk Management For Exporters: The Case Of Incoterms 2000.                                                           361

Roberto Bergami, Victoria University, Australia.

 

The Intra-Industry Trade Performance Of The Australian Manufacturing Sector:

A Disaggregated Study.                                                                                                                        371

Andrew Marks, University Of Western Sydney, Australia.

 

Survival In The Global Textile Industry: The South African Experience.                                                  382

Maliga Moodley, Department Of Agriculture, Pretoria, South Africa; &

Charles O’Neill, University Of KwaZulu-Natal, South Africa.

 

Efficiency In The EU Banking System: An Assessment Of The Impact Of M&A Activity.                       392

Catarina Figueira & Joseph Nellis

Cranfield University, United Kingdom.

 

The Effects of Country of Origin on Chinese Consumers’ Purchasing Behaviour:

A Case Study on Wine.                                                                                                                        403

Leeva Li, Guang Zhou Bai Hao Pharmaceutical Ltd., PR China; &

Xiaoling Hu, Business School, University Of Gloucestershire, Britain.

 

Cross-Border Mergers And Acquisitions – A Cause For Growing Economic Nationalism?                    415

Anita Macek & Rasto Ovin, University Of Maribor, Slovenia.

 

Typology of Oil Shocks: Why 2004 is Different?                                                                                   425

J.-L. Bertrand, Banking and Finance Department; &

S. Justeau, Department of Economics.

Ecole Supérieure des Sciences Commerciales d’ Angers, France.

 

The Role And Significance Of FDI In Croatia With Special Emphasis On International

Joint Ventures.                                                                                                                                      436

Vlatka Bilas & Danijela Cenan, University Of Zagreb, Croatia.

 

 

Foreign Direct Investment

 

Control Mechanisms And Firm Performance In Joint Ventures: Evidence From

Greek Joint Ventures In Eastern Europe.                                                                                               446

Ioannis-Dionysios Salavrakos & Chris Stewart

London Metropolitan University, UK.

 

Where To, Odysseus? The Quest Of Greek Firms To Expand Abroad.                                                 463

Fragkiskos Filippaios; & Carmen Stoian, Kent Business School, UK.

 

 

Economic Development & Growth

 

On The Role Of Government Expenditure In A Growing Economy With

Endogenous Labor Supply.                                                                                                                   481

Tadashi Inoue, Hiroshima Shudo University, Japan.

 

 

Transition & Legal Issues

 

Technology Transfer In Eastern Europe And China: How Can This Impact

On The Growth Of These Nations?                                                                                                       503

David Floyd, University Of Lincoln, UK.

 

The Influence Of The South African Constitution On The Common Law Of Contracts.                          507

Riana Van Der Bank, Vaal University Of Technology,

Vanderbijlpark, South Africa.

 

 

Environmental Issues

 

The Sustainable Business Of Production And Consumption: Rethinking Our

Relationship To The Natural Environment.                                                                                             515

Dick Skeen, Robert Di Carlo & Kooros Mahmoudi,

Northern Arizona University, USA.

 

Optimal Investments In Physical And Abatement Capital: The Effect Of An

Emission Trading Mechanism.                                                                                                               521

Francisco Cabo, María Jesús Jiménez-Herrero, &

Guiomar Martín-Herrán, University of Valladolid, Spain.

 

Thinking About the Natural Environment In Brazil.                                                                                 533

Maria Cristina Ortigão Sampaio Schiller,

UERJ, ENCE/IBGE, IBMEC, Brazil.

 

 

Education Issues

 

Enhanced Personal And Interpersonal Skills Development: The Alignment Of Curriculum

Objectives And Graduate Perceptions In The Training Of Accountants.                                                 545

Despina Whitefield, Centre for Strategic Economic Studies,

Victoria University, Australia.

 

Assessing The Research Performance Of Australian Universities.                                                           557

Abbas Valadkhani & Andrew Worthington,

University Of Wollongong, NSW, Australia.

 

 

Postmodernism

 

Postmodern And Modern Economic Thought:  Exploring The Constructive Tensions

And The 'In-Between'.                                                                                                                          567

Adrian N. Carr, University Of Western Sydney, Australia &

Cheryl A. Lapp, Labyrinth Consulting, Canada.

 

Binding Economics: Giving Organisations The Right To Coerce.                                                             575

Cheryl A. Lapp, Labyrinth Consulting, Canada &

Adrian N. Carr, University Of Western Sydney, Australia.


 

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