THE POSSIBILITY OF REINTRODUCING THE ZIMBABWEAN DOLLAR
►Margaret Mutengezanwa, Fungai N Mauchi, Kosmas Njanike, Joseph Matanga and Rumbidzai N Gopo
The research was conducted to assess the possibility of reintroducing the Zimbabwean dollar. A descriptive research design was used in which data was collected from a sample of 183 respondents using questionnaires and interviews. This research found out that the current multicurrency regime has proved effective in that it has stabilized macroeconomic conditions, reduced inflation significantly and has provided a foundation for the resumption of economic growth. It was concluded that Zimbabwe was not yet ready to reintroduce the Zimbabwean dollar as there was need for commitment by the monetary authorities to maintain price stability, stem hyperinflation as well as guarantee the independence of monetary authorities.
Keywords: dollarization, local currency, Zimbabwe
ENERGY CONSUMPTION AND ECONOMIC GROWTH: Evidence from Pakistan
►Najid Ahmad, Muhammad Farhat Hayat, Naqvi Hamad and Muhammad luqman
This paper investigates the relationship between energy consumption and economic growth of Pakistan. A time series data has been used for the period of 1973-2006. GDP is taken as dependent variable and energy consumption as independent variable. Augmented Dicky Fuller test has been used to check the stationary of the variables and both variables found stationary at level. The results of Granger causality test show uni-directional causality running from GDP to energy consumption. The results of ordinary least squares test show positive relation between GDP and energy consumption in Pakistan. One percent increase in energy consumption will raise GDP by 1.23%. Diagnostic tests confirm that residuals are normally distributed, coefficients are stable and there is no ARCH effect. Pakistan economy is energy dependent. Shortage of energy means lower the economic growth of Pakistan. We should utilize our own sources to meet the needs of energy like by constructing biogas plants in villages and solar energy is also alternative source. This can reduce the dependency on foreign sources.
Keywords: Energy Consumption, GDP,OLS, Pakistan
An anslysis of Impact on Hong Kong Economy under free convertibility and internationalization of Renminbi currency
►Ping-fu LAI and Yuk- hing LAU
Nowadays, countries around the world, including economic giant USA, are increasingly concerned over the issue of undervaluation of RMB. Also, with the trade of China diversifying to various countries around the world in recent years, China has been urged to internationalise its currency- RMB. Undoubtedly, with the pressure of various countries, internationalisation of RMB seems only the matter of time. Hong Kong has been a very close relationship with China. Therefore it is expected the change would bring a profound impact to Hong Kong. In this research, below chapters are looked into what the role should Hong Kong play for coming development of RMB. The potential benefits and dangers of internationalization of RMB would be analysed. Furthermore, explore whether it would bring golden opportunities to Hong Kong’s economy. If so, what should be the positioning of Hong Kong? These are the questions going to solve in this research. In China’s part, since internationalisation of RMB is inevitable, therefore, China needs time to minimize the risk deriving from free convertibility of RMB. To help RMB be internationalising, China needs to choose locations as a tool to further internationalise its financial systems. Clearly, since Shanghai and Hong Kong have a relatively mature financial system and regime, those places are able to help China as well as RMB to step into the global financial market.
Keywords: Renminbi, Hong Kong, RMB, undervaluation, convertibility, USD
SELF-CONTROL AS A MODERATOR OF THE RELATIONSHIP BETWEEN FORMAL CONTROL AND WORKPLACE DEVIANCE: A Proposed Framework
►Faridahwati Mohd. Shamsudin, Ajay Chauhan and Kabiru Maitama Kura
Several studies in the field of management, organizational psychology, sociology and criminology have reported that workplace deviance is related to organization/work variables, such as organizational justice, job satisfaction, perceived organizational support, and job stress, among others. However, few studies have attempted to consider the influence of formal control and workplace deviance. Even if any, they have reported conflicting findings. Therefore, a moderating variable is suggested. This paper proposes a moderating role of self-control on the relationship between formal control and workplace deviance.
Keywords: formal control, workplace deviance, self control, conceptual framework
CUSTOMERS’ EMOTIONAL RESPONSES TO EMPLOYEES’ DISPLAYED POSITIVE EMOTIONS
The study sought to determine the customers’ emotional responses to employee displayed emotions at lunar parks in Zimbabwe. Hundred adult consumers were surveyed soon after an observation of the employee-consumer interaction. Employee emotional displays were measured using observational methods and customers’ emotional states were assessed using the PAD scale. Bivariate regression analysis was used to analyse data. The study revealed that employee displayed emotions positively influences customers’ emotional states of pleasure, arousal, and dominance. Unlike the findings from previous studies the dominance dimension was found to relevant to the lunar park services.
Keywords; Displayed Emotions, Pleasure, Arousal, Dominance.
EFFECTS OF HUMAN RESOURCE MANAGEMENT ON BUSINESS PERFORMANCE OF SMALL AND MEDIUM SIZE MANUFACTURERS IN HANOI – VIETNAM
►Ngo Van Tuan and Nguyen Minh Ngoc
This research examines the relationships between HRM practices and performance of manufacturing SMEs in Ha Noi. Questionnaires were sent to CEOs, business owners, or human resource managers at 300 manufacturing SMEs in Ha Noi, 245 responses were collected and 200 qualified responses were left after screening. The findings indicate positive relationships between training, performance appraisal, incentive compensation and performance of manufacturing SMEs in Hanoi. This study partly clarifies the conflicting results of the previous studies on the relationships between training, performance appraisal, incentive compensation and firm performances.
Keywords: training, performance appraisal, incentive compensation, business performance, SME, Vietnam