Impact of Financial Distress on the Efficiency of Selected Manufacturing Firms of Ethiopia

Efficiency ratio has important implication on the solvency of manufacturing firms. Efficiency is how the firm uses its assets productively. Efficiency is measured in terms of income to asset ratio; it has great importance in addressing financial distress problem. With this in mind, the main objective of the study is to examine the relationship between efficiency and financial distress of manufacturing firms in Ethiopia for the period from 1999 to 2005. The researcher also explicitly reviewed the recent findings on efficiency-financial distress relationship up to 2015. Besides this the research examines various other factors affecting financial distress. Due to data heterogeneity, non-continuity and because the Hausman test favors it over the Random Effect technique, the panel data General Least Square  (GLS) regression method is used. The result proves that efficiency has positive and significant influence on debt service coverage.  Efficiency is the most important determinant for firms and firms should consider improving efficiency through retrenchment of obsolete and unproductive assets that decreases the capacity of generating return. Unproductive assets offset the profit generated by productive assets and decreases efficiency of firms. Keywords: Financial Distress, efficiency, debt service coverage, productivity, Ethiopi

In Vitro Assessment of Fecal Inocula From Horses Fed on High-Fiber Diets With Fibrolytic Enzymes Addition on Gas, Methane and Carbon Dioxide Productions As Indicators of Hindgut Activity

This study was aimed to assess the effect of fecal inocula from horses fed on concentrate (restricted amount daily) and oat straw (ad libitum) supplemented with fibrolytic enzymes on in vitro hindgut activity. Cellulase (CE), xylanase (XY) and CE+XY (1:1 v/v; CX) were tested at three levels (μL/g DM): 0, 1 and 3, in addition to control without enzyme addition (EP0). Fecal inocula were collected from 16 Quarter Horse mares supplemented with enzyme at 0 (FCOwithout enzyme), or fed 10 ml enzyme/mare/day of CE (FCE), XY (FXY) or CE+XY (1:1 v/v; FCX) for 15 days. The fecal content mixed with the culture media were used for incubation in bottles containing 1 g DM of substrate (a mixture of concentrate and oat straw (1:1 DM)). Gas (GP), methane (CH4) and carbon dioxide (CO2) productions were measured at 2, 4, 6, 8, 10, 12, 24 and 48 h post-incubation. Interactions occurred (P˂0.05) between fecal type × enzyme product for the asymptotic GP, the rate of GP, CH4 production, and fermentation kinetic parameters. Moreover, interactions were observed (P˂0.05) between fecal type × enzyme product × enzyme dose for the rate of GP, CH4 production and DM digestibility. Xylanase at 3 μL/g DM with FXY fecal increased (P˂0.05) the asymptotic GP and calculated fermentation parameters. At 24 h and 48 h and without enzyme, FCX and FXY, respectively, had the highest (P˂0.05) CH4 production. It can be concluded that xylanase enzyme at 3 μL/g DM was the most effective compared to other treatments

Revitalization, Reinvigoration and Motivation of Survivors in Changed, Restructured and Downsized Organizations: A Study of Leadership Challenges in Local Government

Over the past two-plus decades, corporate mergers, government consolidations, workforce downsizings and plant closures have increased dramatically; as a consequence, millions of workers around the nation have lost their jobs. Not surprisingly, researchers have begun to focus considerable attention on downsizing, restructuring and revitalization efforts as a means for understanding organizations undergoing major transformation. Although the studies that have been conducted have dealt with a wide range of issues associated with organizational downsizing and restructuring, there is an absence of research examining mid and upper level managers\u27 perceptions of the efficacy of their efforts to revitalize their downsized organizations and, in particular, their surviving subordinates. Likewise, empirical research into public sector downsizing and restructuring has been sparse. This study was designed to respond to these gaps in the literature. More specifically, the research studied fiscally driven change efforts in two cities over a period of four years. Both individual interviews with key participants and stakeholders and extensive analysis of government documents and newspaper accounts were used to reconstruct what happened in the financially stressed cities. The technique of narrative analysis, which involves reconfiguring data as a story complete with plot and literary-like themes, was used to analyze the data. The stories suggest that, in most instances, government officials in both cities did not so much downsize their organizations as find ways to avoid the need for downsizing. The methods ranged from convincing voters to approve a sales-tax increase to restructuring departments to decreasing the number of city employees by not filling positions when retirements or departures occurred. Despite the absence of substantial downsizing efforts, employee morale in each city suffered. The study documents leaders\u27 attempts to confront the morale problem. Strategies employed included leaders: keeping employees informed about the fiscal crisis and what was being done about it; soliciting employee input and feedback about what to do to respond to crisis situations; redesigning jobs and providing professional development opportunities related to an employee\u27s new responsibilities and long-term career aspirations; and articulating a positive vision of the future and the reasons that this vision would likely come to pass

El control de las direcciones físicas condicionales determinantes del rendimiento en los boxeadores

The present research aims to propose tests to help improve the control of the conditional physical directions that determine performance in boxers of the first category in Guantánamo, taking into account the characteristics of this sport and the age of the athletes, taking as a path of concretion the control of the physical preparation and like center of direction of the process to the coaches. For its development, methods of the theoretical and empirical level were used, such as the survey, the interview and the documentary study, which made possible to collect the necessary information to prepare the proposal and determine its effectiveness.La presente investigación tiene como objetivo proponer pruebas para contribuir a perfeccionar el control de las direcciones físicas condicionales determinantes del rendimiento en los boxeadores de la primera categoría en Guantánamo, teniendo en cuenta las características de este deporte y la edad de los atletas, tomando como vía de concreción el control de la preparación física y como centro de dirección del proceso a los entrenadores. Para el desarrollo de la misma se utilizaron métodos del nivel teórico y empírico como la encuesta, la entrevista y el estudio documental que permitieron recopilar la información necesaria para elaborar la propuesta y determinar su efectividad

Analysis of NPS contracting service quality

MBA Professional ReportThe purpose of this project is to identify and analyze customer expectations and customer perceptions of service quality provided by the local contracting office supporting the Naval Postgraduate School (NPS). Our goal is to identify performance gaps using the SERVQUAL instrument for measuring customers’ expectations and perceptions along five quality dimensions (tangibles, reliability, responsiveness, assurance, empathy). The results will identify areas of improvements in customer relations, contracting support, and service quality.http://archive.org/details/analysisofnpscon1094544520Captain, United States Air ForceApproved for public release; distribution is unlimited