Vol. 3 No. 6 (2011)

This study compares the volatility behavior and variance structure of daily, weekly and monthly returns of the KSE-100 index. The study uses seventeen years data covering the period from 1991 to 2008. By employing ARCH (1) model, the study finds significant asymmetric shocks to volatility in the three series but the intensity of the shocks are not equal for all the series. The study finds that the statistical properties are also substantially different from one another. The stylized fact of volatility clustering is found in the market but is sensitive to the frequencies of data.

Psychological contracts are defined as the beliefs individuals hold regarding the terms and conditions of the exchange agreement between themselves and their organizations. The study aims at understanding the depth of Psychological contracts at Western Ahmedabad fast- food joints and its relation with employee’s commitment. It was indeed a challenge to understand Psychological contracts in this particular sector as its growing at a fast pace and evolving a cutthroat competition. Three Psychological Contract Variables- Relational, Balanced and Transactional were employed on 60 crew member from 7 FastFood Joints. A 16 item Psychological Contract inventory to measure employees’ commitment was adopted from PCI of Donald Cable. The study revealed all the three variables in the study, however where commitment was concerned the Dominant one was Transactional commitment. The work concludes with an orientation that, Psychological Contract Variables has lot to do with Lifes’- Orientation of each individual employee.

Investment behavior of an investor depends on his/her risk perception and risk attitude. This paper attempts to explore that how the perception of an investor who is also the employee of that organization differs from other investors. Does he/she perceives risk similarly as other common investors or his relationship with the organization as an employee has any impact his/her risk perception, attitude and investment behavior. This research study is conceptual in nature and mainly based on previous literature findings and evidences. Findings of this study suggested that employees risk perception is directly related with investment behavior and there is strong relationship between them. This can help the management to make special offers of shares to employees, this will further strength the bond of employees with the organization.

Genetic Algorithms (GAs) are an adaptive heuristic search algorithm premised on the evolutionary ideas of natural selection and genetic. In this study we apply GAs for Fundamental Models of Exchange Rate Determination in exchange rate market. In this framework, we estimated absolute and relative purchasing power parity, Mundell-Fleming, sticky and flexible prices, equilibrium exchange rate and portfolio balance model as fundamental models for European Union’s Euro against the US Dollar using monthly data from January 1992 to December 2008. Then, we put these models into the genetic algorithm system for measuring their optimal weight for each model. These optimal weights have been measured according to four criteria i.e. R-squared (R2 ), mean square error (MSE), mean absolute percentage error (MAPE) and root mean square error (RMSE). Based on obtained Results, it seems that for explaining of EU Euro against the US Dollar exchange rate behavior, equilibrium exchange rate and portfolio balance model are better than the other fundamental models.

Playing at home ground gives advantage to the home side always, though the strength of the teams also plays a major role in the eventual outcome of a given match. It is observed that India is remarkable when it plays at home; however, it becomes quite an ordinary side when it plays at opponents’ home ground. Meanwhile, Australia, which has been the most consistent team for several decades played well both at home and away. After studying the 50-years data of home and away matches for all major cricket playing teams via split technique, it was found that the teams won their matches more, when they play at their home grounds, while playing at opponent’s home-ground may snatch away the victory from them.

This paper investigates the different impacts of vocational schools and universities on regional development in China. To account for a possible two-way causality between education and economic development, a system of supply and demand equations is introduced. The results show that vocational education has higher impact on regional development than university education in China. Concerning the reverse causality, the paper finds that effect of regional development on university education is higher than its effect on vocational school education.

Viability is a challenge that all the organizations face these days. As a result of this they need to introduce changes at various levels, through a change process. The halfhearted decisions regarding change result in confusion at all the levels. Services of experts as external consultants are hired for such an organizational development need. These consultants are responsible to communicate openly and discuss the reasons and consequences of the planned actions. Changing environment should be kept in view while implementing the change. Similarly, the capacity of the team should be improved and the consultants should refrain from imposing actions. Viability is an internal need of an organization; therefore, the decision to change should be made and enforced internally. The support from field specialist, external consultant, as a facilitator should be used to remain on track and have whistle blowers around in case of problems.

This study examines the long-run relationship between exports and imports for the Ghanaian economy for the period of 1948 to 2010. Empirically, we find that Ghana’s exports and imports are cointegrated using Granger and Engle (1987) two-step procedure. However, the slope coefficients from the cointegration equations were not statistically equal to 1 and the equilibrium relationship further indicates that the economy of Ghana imports more than 1 dollar to get 1-dollar exports revenue. Conclusively, the sustainability of Ghana’s foreign deficit is doubtful.

The characteristics of entrepreneurial orientation is played important role in business. How do an entrepreneurial firms and individuals have taken the advantage in industry? This study explores the dynamic capabilities of the organization according to international performance. Our findings indicates the positive impact on dynamic capabilities of the business with perfectly use of this research framework. The main aspect of this paper is to analyse the impact of entrepreneurial orientation with the quality of life. Distinctive features of entrepreneurs and their contribution to the economy can make it possible for third world countries to grow their economies faster and provide financial means to enhance social, health, and environmental well-being (basic dimensions of quality of life), along with products and services that the poor need in these countries. Entrepreneurial orientation combined with organization learning and Quality of life (QOL) are enhanced the dynamic capability of the organization. Present conceptual research will provide the source of competitive advantage and mainstream line for further development of the business .We suggest that existing literature reconfiguring the different approaches for the entrepreneurial to capture the opportunities in world business. First, quality of life cannot possibly improve in inactive or weakening economic conditions; second, economic development in the third world countries cannot advance in a balanced and desirable manner without a major domestic entrepreneurship movement (Samli 2004, 2008a).

This study investigates county-level corn yield trend models using quadratic and cubic trend estimations. The study empirically revealed that the cubic trend is more appropriate for yield data from the West, Midwest and South regions. The linear and the quadratic trend models were respectively found to be more appropriate for yield data from the Plains and Atlantic regions. Results suggest that the data should be allowed to determine the appropriate trend relationships to avoid trend misspecification. Additionally, the yield trends are found to be inconsistent across all the regions. Different locations tend to exhibit different yield trends. It is therefore recommended that differences between regions be recognized when we conduct yield trend tests and not to generalize our results to other regions.