Linkages Between Value Based Performance Measurements and Risk Return Trade Off: Theory and Evidence

In this study we attempt to investigate the linkages between value-based performance measurements and risk-return trade off in a way to explain cross sectional asset returns. On the side of value based performance measurements, three groups of variables are used as a sorting factor: traditional measures which consist of accounting based and market based; recently popularized measures such as Economic Value Added and Market Value Added and theoretically sound measures such as foreign investor allocation and firm systematic risk indicators. The goals of the study are (i) to show how value based measurements techniques relate to risk return trade off and (ii) how these measures affect the cross sectional asset returns in manufacturing industry. Empirical results indicate that foreign investor allocation as a sorting factor produces much more meaningful risk return positive linear relation for cross sectional asset returns than traditional and recently popularized measures.Asset pricing; risk; Value Added Measures; emerging markets.

Students' perceptions of the general english proficiency test: A study on Tishk International University students in Erbil, Iraq

Language Proficiency exams are run globally in different formats to assess students` performance at all stages. Accordingly, standardized or institution-based proficiency exams are common at higher education institutions to determine students` level and overall ability. This study was conducted in 2022-2023 Academic Year over a span of 4 weeks to examine the perceptions of prospective students who want to study in different faculties and departments of Tishk International University in Iraq. One thousand students were chosen as the sample by adopting convenience sampling method. The purpose of this study was to figure out prospective students` genuine opinions on revised Tishk International University General English Proficiency Exam. The students took the exam run by Tishk International University, Language Preparatory School and expressed their opinions about the exam through the interview. The findings revealed that watching movies, reading books, joining some training programs, following the news and TV programs in English affected their performance positively, whereas setting other priorities, focusing on other subjects rather than English, not studying well in advance, unable to manage the time and stress affected their results adversely. Additionally, the students stated once more that incorporating some of the questions from their grade 12 English textbook with those from the Cambridge Proficiency Exam 1 boosted their motivation to achieve high marks on the test. The findings of this study may have some implications for future studies related to English language proficiency tests

Linkages Between Value Based Performance Measurements and Risk Return Trade Off: Theory and Evidence

In this study we attempt to investigate the linkages between value-based performance measurements and risk-return trade off in a way to explain cross sectional asset returns. On the side of value based performance measurements three groups of variables are used as a sorting factor: traditional measures which consist of accounting based and market based; recently popularized measures such as Economic Value Added and Market Value Added and theoretically sound measures such as foreign investor allocation and firm systematic risk indicators. The goals of the study are (i) to show how value based measurements techniques relate to risk return trade off and (ii) how these measures affect the cross sectional asset returns in manufacturing industry. Empirical results indicate that foreign investor allocation as a sorting factor produces much more meaningful risk return positive linear relation for cross sectional asset returns than traditional and recently popularized measures.En este estudio se intenta investigar los vínculos entre las mediciones de valor basado en el desempeño y el dilema de riesgo retorno para explicar los retornos de valores diversificados. Por el lado de las mediciones de rendimiento sobre el valor se utilizaron tres grupos de variables como factor de clasificación: mediciones tradiciones que consisten en mediciones de contabilidad y de mercado; otras mediciones recientemente popularizadas como el Valor Económico Añadido (VEA) el Valor de Mercado Añadido (VMA) y mediciones teóricamente sólidas como la asignación de la inversión extranjera e indicadores estables sistemáticos de riesgo. Los objetivos de este estudio son: (i) demostrar cómo las técnicas basadas en mediciones se relacionan con el riesgo de retorno de compensación y (ii) cómo estas mediciones afectan los retornos de valores diversificadosen la industria manufacturera. Estudios empíricos indican que la asignación de inversión extranjera como un factor de clasificación produce mucho más riesgo significativo de relación linear positiva para el retorno de valores diversificados que las mediciones tradicionales y las de reciente popularizació

Perceptions of Parents on Raz-Kid' s Role in Enhancing Students' Micro and Macro-Skills Holistically: A Study on Ishik Brayaty International Primary School in Erbil

Many educational institutions globally have adopted the motto of technology-enriched education. Among others, e-books have come to the forefront with technological developments. Accordingly, e-book apps have gained increasing popularity due to their numerous advantages. Although many studies have been conducted on e-book platforms’ effectiveness on a global scale, Raz-Kid’s influence on students’ macro and micro-skill development has not been studied in the context of Iraq. Bearing this fact in mind, this study is an endeavor to explore parents’ perceptions about a well-known e-reading app, Raz-Kids, in Erbil, Iraq, on students attending Ishik Brayaty International Primary School in the 2023–2024 academic year. Through convenience sampling, 100 parents uncovered their genuine opinions in a mixed-methods research design study. Data were gathered via questionnaire and interview, and analyzed by either SPSS 29 or NVivo. Findings demonstrated that Raz-Kids has the limitless potential to increase students’ linguistic skills holistically. In addition, parents’ and teachers’ encouragement has been considered as the triggering force to increase students’ reading rates. The study’s findings may have certain implications for the stakeholders who plan to integrate means of technology into the curriculum in a balanced way. Thus, some rational steps can be taken to eliminate the negative impacts of technology and highlight the positive aspects via well-designed e-book reading apps and more

Reaping the Fruits of Technology-Integrated Grammar Instruction in EFL Classes at the Tertiary Level Through Web 2.0 Tools

Thanks to their advantages, technology-integrated tools have risen in English classes, especially in the last two decades. In this respect, a paucity of research has been conducted to measure the influence of web-enhanced tools in improving linguistic skills. However, a gap in the literature has been observed about the effects of technology-integrated instruction on EFL learners’ grammar performance at the tertiary level in the Iraq context. In light of this, the present study aimed to explore the influence of Web 2.0 tool-oriented instruction in developing grammar on 40 EFL learners, chosen by systematic sampling method, studying at the language preparatory school of a private university in Erbil, Iraq, in the 2023-2024 academic year. The study lasted nine months and adopted the principles of a mixed-methods research design study. Control group students were exposed to traditional instruction, while experimental group students’ lessons were enriched with web 2.0 tools via various websites on English language learning. The findings, analyzed by SPSS 26 and MAXQDA, revealed that experimental group students increased their grammatical competence, intrinsic motivation, self-confidence, and overall attitudes toward learning English more significantly than the control group students. In line with these findings, this study has certain pedagogical implications for integrating Web 2.0 tools into grammar lessons

Quality investment as a catalyst for successful performance-based contracts: a relational view perspective

Purpose Performance-based contracting (PBC) has been gaining popularity over the years. However, empirical studies investigating the impact of PBC features have been limited. The main purpose of this study is to investigate the effect of PBC features leading to quality investment that fosters financial benefits. Design/methodology/approach After examining the validity and reliability of scale items through confirmatory factor analysis, this study tested hypotheses using covariance-based structural equation modeling of survey data from 381 supply, logistics and operations managers. Findings The findings reveal the impact of PBC features (joint knowledge generation, goal congruence and incentive alignment) on financial benefits and the mediation impact of quality investment between these features and financial benefits. The upfront investment for quality enhancement was found facilitator of PBC features to achieve financial benefits. The findings also reveal the importance of collaborative communication and information sharing for knowledge generation that leads financial benefits through quality investment. This study shows that PBC governance strengthens the theory of relational view by empowering collaborative efforts and aligning goals and incentives within downstream suppliers for knowledge generation and quality enhancement. Research limitations/implications An analysis of PBC features by industry would be very beneficial in differentiating between and more thoroughly understanding the commonalities and differences across various sectors. Investigating how these change across industries would also help identify any bias in PBC implementation. Practical implications This study illustrates that it will be practical and beneficial for suppliers to understand the major drivers of quality investment and the relationship between quality investment and the financial benefits of selecting PBC. Originality/value Unlike most previous studies, this research contributes to the literature in that it is one of the relatively few examples of empirical research on PBC features. Overall, the findings of this study will improve our understanding of how PBC features enhance upfront investment in quality and improve financial benefits

Decreasing e-waste through reliability enhancement encouraged by performance-based contracting

Purpose – In the last 20 years, e-waste has become a serious issue resulting from an overwhelming amount of electronics consumption. However, there has been limited research on how to decrease such waste in a structured manner. Toward study was to use a simulation methodology to investigate the dynamics of upfront investment in reliability enhancement promoted by performance-based contracting (PBC), based on the number of spare parts and duration of the contract. Design/methodology/approach – The present research first details the relevant mathematical equations and uses game theory to demonstrate the utility for supplier and buyer relationships. Next, the effects of reliability enhancement, spare partsPBC are analyzed using a BlockSim simulation model. Findings – The results indicate strong relationships among system design cost, reliability, availability and service cost. The authors found that investment in reliability increases system availability while reducing total service costs. Furthermore, increasing the spare parts inventory was determined to have less influence on the readiness of highly reliable systems. The findings support the notion that PBC reduces e-waste by increasing system availability, incentivizing upfront investment in reliability growth. Research limitations/implications – Recognition of these findings in the context of buyer–supplier relationships will help managers better understand the value of upfront reliability investment, reducing maintenance, repair and overhaul requirements, avoiding the need to plan for extra spare parts and minimizing volume and the resulting e-waste. Practical implications – This study also clarifies the uncertainty associated with upfront investment and provides potential incentives for suppliers. Originality/value – The main contribution of this study is its use of PBC for e-waster eduction, highlighting the effects of upfront investment in reliability enhancement. The authors applied a game theory model to illustrate the relationship between incentives and upfront investment and demonstrate how increased levels of spare parts can be counterproductive to achieving readiness, reducing inventory and consequent e-waste

Scale development and validation of Transaction Cost Economics typology for contracts: A systems thinking approach

A variety of contract typologies that exist in the literature are helpful in the exploration of different approaches in contractual relations, but only when measured with the right instruments. Although Transaction Cost Economics (TCE) has a distinct, high-level, and abstract typology for contracts, it still lacks a measurement scale. In this paper, a measurement scale for the TCE contract typology (classical, neo-classical, and relational contracts) was developed and validated, using systems thinking approach and experimental design to contribute to the empirical tests of TCE within the contracting realm. First, the antecedents of contract selection within the TCE literature were analyzed using the systemigram technique to visualize and parse out complex relationships that lead to contract selection. The analysis of the TCE Systemigram helped the development of the scale and revealed the need to revisit the risk neutrality assumption embedded in TCE. Second, a measurement scale for the TCE contract typology (classical, neo-classical, and relational contracts) was developed adhering to the original texts of seminal papers and reviews from the TCE literature. Third, the 14-item measurement scale was validated using a series of three vignette-based experimental studies

Linking decentralization in decision-making to resilience outcomes: a supply chain orientation perspective

Purpose – Global supply chains are increasingly becoming more prone to high-impact disruptions, which has been fairly evident with the coronavirus disease 2019 (COVID-19) pandemic. The capacity to address disruptions is essential for the survival of any organization. Coping with increasing complexity and uncertainties requires a systemic view of supply chains. Furthermore, a comprehensive understanding of the governance structure and timely decision-making are critical in times of disruptions. Although several aspects of supply chain resilience (SCRES) are broadly studied in the literature, the relationship between supply chain orientation (SCO), decentralization in decision-making and SCRES is an understudied area. Design/methodology/approach – This study takes a longitudinal approach to address this research gap with a comprehensive meta-analytic review to explore the relationships between the constructs of interest through the lenses of contingency and dynamic capability theories. Furthermore, 2 surveys with sample sizes of 250 and 200 were conducted with supply chain professionals to test the research framework before and after the pandemic to compare the findings. Findings – Structural Equation Modeling (SEM) analysis indicates a positive relationship between SCO and decentralization and between decentralization and SCRES. The post-COVID-19 analysis further validates the influence of agility, collaboration and situational awareness related to decentralization and resilience. More importantly, capabilities have a higher impact on resilience during the pandemic than before. Practical implications – The results entreat organizations to attain decentralized decision-making vis-a-vis dedicated functional teams charged with reacting timely to disruptions. The teams should be empowered to leverage their knowledge and experiences regardless of their position in the hierarchy. Originality/value – Although SCRES is an active research stream, the structural aspects of SCRES and its relationship with SCO are understudied. Therefore, this research puts forth a research framework and empirically tests hypotheses that frame the relationship between SCO, decentralization and resilience outcomes in pre- and post-COVID environments

The interdependence between stock market development and economic growth: a multi-country examination

U ovom radu istražuje se veza između gospodarskog rasta i razvoja tržišta dionica u regiji GCC, a to je Vijeće za suradnju arapskih država Zaljeva, odnosno Saudijske Arabije, Bahreina, Ujedinjenih Arapskih Emirata, Omana, Kuvajta i Katara u razdoblju od 2000. do 2017. godine. Generalizirani linearni mješoviti model (GLMM) primjenjuje se kako bi se utvrdila povezanost i priroda odnosa. U usporedbi s konvencionalnim regresijskim modelima, GLMM pruža pouzdanije rezultate uzimajući u obzir podatke koji nedostaju i uklanja razlike specifične za pojedine zemlje. Ovim istraživanjem se potvrđuje značajna pozitivna povezanost između likvidnosti na burzi (SML) i realnog bruto domaćeg proizvoda (BDP) po stanovniku, kao i da je negativna povezanost između tržišne kapitalizacije (SMC) i BDP-a dugoročno beznačajna. Rezultati također ukazuju da su SML i SMC značajno i pozitivno povezani. Uzimajući u obzir da uspješne burze mogu povećati nacionalno bogatstvo, smanjiti preveliku ovisnost o nafti kao glavnom faktoru gospodarskog rasta, rezultati sugeriraju da bi kreatori politike u regiji trebali imati aktivniju ulogu u stimuliranju svojih tržišta dionica uključujući i globalnu integraciju.This paper attempts to test the relationship between economic growth and equity market development in GCC region which is the Cooperation Council for the Arab States of the Gulf, namely, Saudi Arabia, Bahrain, the United Arab Emirates, Oman, Kuwait and Qatar over the period of 2000 and 2017. The Generalized Linear Mixed Model (GLMM) is adopted to find the nexus and the nature of the relationship. Compared to the conventional regression models, GLMM provides a more reliable conclusion accounting for the missing data and eliminate the country specific differences. The study finds a significant positive association between stock market liquidity (SML) and per capita real gross domestic product (GDP) but insignificant negative association between stock market capitalization (SMC) and GDP in the long run. The results also indicate that SML and SMC are significantly and positively correlated. Considering well-performing stock markets can enhance the nation’s wealth, reduce the over-dependence on oil as a major contributor to the economic growth, the results suggest that policy makers in the region ought to play more active role to stimulate their equity markets together with global integration