Corporate Social Responsibility Disclosure among Large Korean Companies
►Diane Y Lee
There are various definitions and schools of thoughts regarding Corporate Social Responsibility (CSR). With regards to CSR, cases for diverse stakeholders, not limited to primary traditional stakeholders such as shareholders or employees, should be made. Much progress has been made in response to CSR in Korea in the last decade after the Asian Financial Crisis. Also, the CSR practices in Korea somewhat resonate with those of Americans or Japanese due to Korea’s history. In this article, website disclosure about CSR and reference to various stakeholders alluded to in GRI index at UN has been analyzed – in other words, content analysis of disclosure on the websites of large Korean companies have been made. Also, simple empirical analysis has been carried out with regards to the firm’s performance and CSR degree and although the influence proved to be insignificant.
Keywords: Corporate Social Responsibility, Stakeholder management, Corporate Social Responsibility Disclosure, website content analysis
The Capital Market Authority Effectiveness in the Regulation of Financial Markets perspectives from the financial sector actors
►Charles Kombo Okioga
Capital Market Authority in Kenya is in a development phase in order to be effective in the regulation of the financial markets. The market participants and the regulators are increasingly adopting international standards in order to make the capital markets in sync with those of developed markets. New products are being introduced and new business lines are being established. The Capital Markets Authority (Regulator) is constantly reviewing existing regulations and recommending changes to regulate the market properly. Business lines and activities are being harmonized by market participants to provide a one stop solution in order to meet the financial and securities services needs of the investors. The convergence of business lines and activities of market intermediaries gives rise to the diversity of a firm’s business operations to meet multiplicity of regulations that its activities are subject to. The methodology used in this study was designed to examine the relationship between capital markets Authority effective regulation and the performance of the financial markets. The study used correlation design, the study population consisted of 30 employees in financial institutions regulated by Capital Markets Authority and 80 investors. The study found out that effective financial market regulation has a significant relationship with the financial market performance indicated by (r=0.571, p<0.01) and (r=0.716, p≤0.01, the study recommended a further research on the factors that hinder effective financial regulation by the Capital Markets Authority.
Keywords: capital markets, regulations, performance
An Investigation of the Factors Influencing Levels of Staff Engagement in a Provincial, Referral Hospital: The Case of Bindura Provincial Hospital
►Edward Negwaya, Tendai Chazuza, Paison Mugogo, Nyasha Mapira, Margret Mlingwa and Rachel Berverly Shamu
The research sought to investigate the factors associated with the levels of staff engagement at Bindura provincial hospital, a referral hospital in Mashonaland Province of Zimbabwe. A case study research design was used in this study. Questionnaires and interviews were used as methods for data collection at Bindura Hospital. A sample size of 59 nursing staff out of 119 nursing staff was used. In addition, the researcher used stratified random sampling technique to draw information from respondents. Both primary and secondary methods of data collection were used. Data collected was analysed and presented in the form of graphs and pie charts. The major findings from the research were that the levels of employee engagement at Bindura Provincial Hospital are at low ebb due to factors such as the general working conditions, living conditions and remuneration .While Government had secured the assistance of the Global Fund,an arm of the United Nations, in terms of supplementing nurses’ salaries, the overall salaries of nurses in the public sector still lagged far behind those of their counterparts in the private sector. The arrangement by the Global Fund, to assist the Government stem out the high attrition rate of nursing staff will be undertaken for specific periods of time, hence the uncertainty regarding the situation beyond the stipulated period of time ,will also likely influence nurses’ desire to leave. The researcher recommended that effective instruments for measuring employee engagement should be put in place in the health sector in general since the nursing staff falls under the Public Service Commission. The Government should also endeavour to improve the conditions of service of nursing staff.
Keywords: Employee Engagement, Organizational Commitment, Job Satisfaction, Motivation
Importance of Establishing a Job Analysis Exercise in an Organisation: A Case Study of Bread Manufacturing Companies in Zimbabwe.
►Mapira Nyasha, Katsuro P, Chazuza T, Mlingwa Margret Makaita, Togarepi Mukondiwa, Mutambatuwisi Farai, Nhimba Nicholas Kudakwashe, Umera Tafadzwa and Machigere Taonga
This research sought to find the impact of establishing a job analysis in the bread manufacturing companies in Zimbabwe. The research used a case study approach in which a sample of six companies out of a population of seven registered companies was used. The targeted population was nominated from six companies and a simple random sampling procedure was employed to come up with sample elements. Questionnaires and interviews were used in triangulation to collect data on the sample. After analyzing the collected data, it was found that there is a positive correlation between well established job analysis and employee and company performance, the impact was seen through improvements in compensation, training and development, health and safety and recruitment and selection. However, the research also found that in an era of continuous delayering and downsizing one of the most common problems derived from implementing a job analysis is employee fears. Employees see a job analysis as a threat to their current jobs or pay levels or both. This is based on the fact that in the past, job analysis was used as a means of expanding jobs while reducing the total number of employees.
Keywords: job description, job analysis, job grade, job, performance, position, skills and duties, compensation, employee
Intangible Resources as Key Determinants of Job Network Providers’ Success: A Resource-based Study
In the last 50 years, many explanations of the determinants of a firm’s success have emerged. One main research stream has dominated the literature on strategic management, grounded in the ‘resource-based view’. Its main assumptions hold that resources possessing specific characteristics such as being valuable, rare, inimitable and non-substitutable are the key determinants of a firm’s success, and are generally regarded to be intangible in nature. In an effort to add to the body of research within the ‘resource-based view’, this paper seeks to test the core assumptions of the ‘resource-based view’ within the Job Network industry in Australia. Given that firms access various intangible resources as they try to carry out a market strategy, this present study is interested in investigating whether or not, intangible resources (capabilities) classified as skills contribute more to Job Network providers’ success than intangible resources in the form of assets, as prescribed by the ‘resource-based view’ theory. To carry out the present study, a conceptual model of intangible resources was developed based on Hall’s (1992) classification of intangible resources divided into two categories: assets and capabilities, but extends this earlier work by including some other resources available for Job Network providers in Australia (e.g. relationships abilities and functional routine). A single hypothesis was posited to investigate the assumption that capabilities contribute largely to Job Network providers’ market and financial performance, rather than intangible assets. This model was tested via a survey encompassing Job Network providers in Australia. Of the 200 questionnaires distributed, a final sample of 69 providers was analysed using multiple regression analysis. Providers’ duration in business was used as a control variable. The findings of the present study revealed mixed results. Capabilities were found to be a significant contributor to providers’ market performance and not financial performance, after accounting for the effects of other intangible assets and the control variable. By contrast, organisational assets were found to be a significant contributor to both market and financial performance measures. In addition, intellectual property and reputation assets were not found to be significant in predicting providers’ market and financial performance. Therefore, in contrast to the ‘resource-based-view’ theory, capabilities were not found to be the single most important contributor to Job Network providers’ performance. Thus, the findings of this study may raise some important issues regarding which intangible resources are the most important contributors to providers’ market and financial performance. They also offer a rich avenue for further investigations.
Keywords: Strategic management, Resource-based view, JobNetwork industry, Intangible Resources, Assets, Capabilities.
Hoteliers’ Perceptions of the Impacts of Green Tourism on Hotel Operating Costs in Zimbabwe: The Case of Selected Harare Hotels
►Nelson Zengeni, Dorothy Monica Fungai Zengeni and Shelter Muzambi
The purpose of the study was to determine the possible relationship of green hospitality and operating costs in Zimbabwe’s hotels. To achieve this, it looked at practices in hotels and their effect on operating costs and also on the awareness levels of the employees on the subject. The study showed that there is both a negative and positive relationship between green hospitality and operating costs as perceived by the hotel employees. The findings also revealed that employee awareness is important in the discussion of green tourism as a measure of controlling costs as they (employees) are the key drivers of the green revolution.
Keywords: Green hospitality, green tourism, operational costs.
A Theoretical Model for Dividend Policy
Interactive determinations, featured in the corporation’s investing, financing and operating activities, explicitly lead firm’s decision ambiguity of payout policy as the result of benefit pursuit and competing among investors, agencies, and firm’s decision making. The study initiates and develops theoretical decision model through consolidating the segmented optimal decisions of, shareholders, agencies, and firms, recognizing the capital structure, tax effects, cash flows allocation effects, and executives’ utility optimality. It results the constructive implications for the implementation of payout policy, which consist of, equity capital turnover rate, taxes, cost of capital, and sustainable growth rate, and so on.
Keywords: Payout Policy, Capital Structure, Agency Problem, Tax Effects