Customer Satisfaction: A Structural Equation Modeling Analysis
The aim of this paper is to investigate the determinants and consequences of customer satisfaction in hotel industry in Iran. A Confirmatory Factor Analysis (CFA) and Structural Equation Modeling have been utilized with information provided by a survey conducted in Iran (Kish Island).Results indicate that perceived value has a significant impact on customer satisfaction in hotel industry. Moreover, there is an strong positive relationship between image and perceived quality, image and perceived value, and also perceived quality and Perceived value. Based on the Results, no direct relationship has been detected between perceived quality and customer satisfaction, and also between customer expectation and customer satisfaction in hotel industry. In addition, Results showed that increased customer satisfaction will lead to an increase in customer loyalty. However, there is no strong negative relationship between customer satisfaction and complaining behavior. Findings provide more evidence on important determinants and results of customer satisfaction. Moreover this study is among the first studies conducted in hotel industry in Iran-Kish Island.
Keywords: Customer Satisfaction, Hotel Industry, Structural Equation Modeling, Iran.
Impact of Ownership Structure and Corporate Governance on Capital Structure: The case of Vietnamese Firms
►Do Xuan-Quang and Wu Zhong-Xin
This article attempts to explore how corporate governance and ownership structure affect capital structure in the context of an emerging economy like Vietnam by considering impact level of three groups of factors which are corporate governance, ownership structure and firm elements. Method of Multivariable Regression Analysis used with cross-panel data collected from non-financial firms listed on Ho Chi Minh Stock Exchanges in the period 2009-2012 shows that corporate governance measures have a significant impact on decision of capital structure, while ownership structure has not given evidences with statistical significance of its impact on capital structure choice, except the fact that managerial ownership has negative impact on capital structure of State-owned Enterprises (SOEs). Especially, the study shows that characteristics which cause effects on corporate governance measures of Vietnamese SOEs include Board size, Non-executive Directors (NEDs), CEO duality and corporate ownership structure. Besides, pecking – order theory can explain basically the impact of classical firm elements such as growth, profitability, tangibility and firm size on capital structure of Vietnamese firms. Finally, our research concludes that ownership structure and corporate governance have a certain impact on decisions of capital structure.
Keywords: Ownership structure; Corporate Governance; Capital Structure; “Doi Moi”; Vietnam.
EFFECT OF PERFORMANCE APPRAISAL SYSTEM ON MOTIVATION AND PERFORMANCE OF ACADEMICS IN NIGERIAN PUBLIC UNIVERSITIES
Nigerian universities are presently experiencing a number of challenges, primary among which is dearth of experienced academics, due to the mass exodus of lecturers to other countries in Africa and overseas, where the environment is more conducive to work and remuneration packages are more competitive. Series of research studies have established that a strong relationship exists between human resource (HR) practices and employee motivation and performance; however much still needs to be done in terms of investigating how it applies to academics in Nigerian universities. This study therefore set out to examine the impact of performance appraisal (PA), which is a key HR practice, on the motivation and performance of academics in Nigerian universities. The study sample was drawn from four (4) public universities in south western Nigeria. Data was sourced with the aid of a questionnaire, while percentage and multiple regression analysis were used for data analysis. Findings showed that the university academics see their performance appraisal system as not being accurate and fair enough because it does not capture adequately, all the job components that make up their performance during the review period. The performance appraisal system was also found to exert a strong influence on the academics’ motivation and overall performance. It was recommended that the PA system for academics should be reviewed by university management such that all the components of their job are captured, evaluated, and adequately rewarded. This is expected to impact positively on the motivation and overall performance of the academics, thereby working as a veritable tool for steering university education towards the right direction for national development.
Keywords: HR practices, performance appraisal system, motivation, performance, academics, public universities
The Impact of Adopting Electronic Trading System on Performance of the Amman Stock Exchange
►Najeb M.H. Masoud
This study aims to highlight the impact of adopting electronic trading System on performance of the Amman Stock Exchange (ASE) represented in the (value traded) and (market capitalisation) where, for the implementation of that, secondary data were collected from (taken from the monthly statistical bulletins of the Stock Exchange) related to the study variables, where an analysis of the difference between the middle two samples: the first study variables before the introduction of the system, and the other after you have inserted, to find out whether there is a significant difference between the size of the stock exchange in trading before and after the introduction of the electronic trading system, and whether there is a significant difference between the value between the market value of securities listed on the stock exchange before and after the introduction of the system. The results of the study show that the use of the electronic trading system as an alternative to the manual trading system has contributed to raise the volume of trading and the market value of the ASE. We believes that the result of the increase in the degree of transparency and security for traders and investors in the stock market, and give great flexibility and different information to brokers facilitated an analysis of the situation of companies traded faster, which achieved more justice, speed and ease of execution of orders, on the other hand, the system has led to facilitate control over the trading operations and the dissemination of information in real time for both local or foreign investors which contributes to increase the depth and liquidity of the market.
Keywords: Jordan, Electronic trading system, Value traded, Market capitalisation, Amman Stock Exchange.