Vol. 3 No. 3 (2011)

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The purpose of this paper is examining the Laffer curve for inflation tax. To do so we have used Hansen (1996, 2000), threshold regression model to study whether a non-linear relationship between inflation Tax and inflation based on two regimes of inflation (low and high inflation regimes). Our findings support a standard Laffer curve shape in Iran with a threshold inflation rate of 15.24 percentage points. In other words, only at inflation below this rate inflation tax will increase as a result of higher inflation.

The research examines the determinants of job analysis and competency models affecting employee’s motivation and competencies in a manufacturing firm. Data were obtained from a readymade garments based on structured questionnaire. Results show that competency has no relationship with rewards, motivation, and job description. Conversely, competency is positively related with performance appraisal, motivation, training, and selection process. The study also reports that rewards and job specifications are futile to leverage employee’s competencies. It further suggests that harnessing these variables might contribute the firm with potential to enhance motivation and competency level to a greater extent.

Financial repression introduced early decade 1970 by McKinnon (1988) and Shaw (1973) that represented limits created by governments on monetary and financial system and had a negative impact on financial markets but in some countries, financial repression has had a positive effect on the financial markets. Iran is among the countries that knows necessary suppression of the financing for the economy and of decade 1350 until now is applied many restrictions on the financial markets. In this article we use the econometric methodology "regression to the wide distribution breaks» (ARDL) are paid to analyze the relationship between financial depth and financial suppression of in India for the period 1976-2006 the result of this research has been the negative impact of financial suppression of on financial depth variable and if the government does not limit the financial markets, increased financial depth and can be useful for the economy. Due to error correction model (ECM) we confirm long-term relationship between variables and using the test (CUSUM, CUSUMQ), lack of structural failure in the model.

This paper appraises the available literature on concept of leadership and proposes fresh imputes to the mainstream theory by highlighting five facets of leadership. First, leadership and management are interlinked yet distinctive set of knowledge and practice–which are not substitution to each other. Second, leadership gets instigated with making of leader’s self and its solicitation of authenticity by the followers. Third, an intimate relationship between leader and followers is deemed necessary for embarking on motivation and inspiration among followers to pursue established goals, even if they apparently seem unachievable. Fourth, contemporary organization study overwhelmingly posits leadership as individualistic domain, and thus fails to spot due diligence on the scope of co-leadership. Fifth, whilst talking high of leadership, we must not overlook the potential drawbacks that leadership might augment, because–like all other power corridors–leadership does have this tendency of fostering personal and sometimes ill-conceived agendas.

This study investigates the relationship of mergers & acquisitions with the interest spread of the banking industry in Pakistan. To assess whether the merger of Pakistani banks were a success or otherwise, profitability, liquidity ratios, and net interest spread are computed which are considered essential to judge the financial performance of any bank. Data is taken for the period of 1997-2010 and this data have been used to calculate the interest spread and market concentration. Market Concentration is calculated by using Herfindahl-Hirschman Index or HHI. Findings show that the profitability and net interest spread of two merged banks declines as a result of mergers. It is also revealed that Concentration of the banking industry shows a rising trend during 2008 and 2009 after mergers occurred during 2007 as a result of merger. However, it shows the level that almost approaches the threshold i.e. 1000. One or two more mergers can push up threshold level of HH index. It means that it is the right time for banking industry of Pakistan to be reviewed by any antitrust authority to maintain the optimum level of competition.

The service industry has become more and more important for business activities. Service industry contributes about 60% of the annual GDP and 70% of new jobs in America. According to the statistics of Executive Yuan of Taiwan, the service industry contributes over 70% of the annual GDP in 2008. The ultimate goal for companies is to build customer loyalty. With loyal customers, companies can reduce the operating cost and acquisition expenses. An improvement of 5 percent in customer retention leads to an increase of 25 percent to 75 percent in profit. It costs more than five times as much to obtain a new customer than to keep an existing one. This initial study was from relevant literature, then set up research structure and hypotheses. Survey was employed, and respondents were from the customers of TKEC in Taipei area. There were 199 usable questionnaires to analyze descriptive statistics, reliability, validity, and SEM model. The research found that service quality significantly affects customer perceived value and customer satisfaction, and customer perceived value and customer satisfaction have strong impact on customer loyalty for the sample. Therefore, firms have to specifically focus on these factors in order to build a long-term and mutually profitability relationship with a customer and create loyalty as competitive advantages in the market.

The failure of corporate-control transactions as strategic-oriented transactions to create significant values for their stockholders has triggered the management to deal with these phenomena by setting the right and best strategies and at the same time, to ensure company's growth in the future. This study tests empirically the implication of corporate-control transaction announcement on companies’ abnormal returns. Particularly, this study investigates the effect of the announcement of corporate-control transactions’ type (merger and acquisition, sell-off, joint venture, alliance) and focus (transformative or expansionist). It used the event study of 94 corporate-control transactions, which contains of transactions’ type and focus of during 1991-2001 periods. By using multivariate regression analysis, the results show that the announcement of corporate-control transactions significant and positively influence the cumulative abnormal return. Meanwhile, the announcement of the corporate-control transactions’ type and focus does not significantly influence stockholders' benefit. Generally, the characteristic of the independent and control variables in this study due to their implications to cumulative abnormal return are in-line with previous studies. In addition, this study has proven that the characteristic of investors in Indonesia's stock markets are very different with the ones in many other places like Europe or United States. In other words, this reflects the unstable and inefficiency of Indonesia's stock market as an emerging market.