European Journal of Business Science and Technology, 2018 (vol. 4), issue 2
Does the Federal Constitutional Court Ruling Mean the German Financial Market is Efficient?
Bachar Fakhry, Christian Richter
European Journal of Business Science and Technology 2018, 4(2):111-125 | DOI: 10.11118/ejobsat.v4i2.120 
Following the landmark ruling by the German Federal Constitutional Court in Karlsruhe on 7th February 2014 in which they endorsed the efficient market hypothesis, we present evidence on the efficiency of the German financial market. Introducing a new variance bound test based on the Component-GARCH model of volatility to analyse the long- and short-runs effects on the efficiency of the German financial market, we test the price volatility of four markets: DAX stock index, German sovereign debt index as provided by Barclays and Bloomberg, Euro gold index by the World Gold Council and Euro currency index by the Bank of England. Our use of the Component-GARCH-T...
Ready for Changes? The Influence of General Self-Efficacy and Resistance to Change on Managers' Future Competence Requirements
Jürgen Mühlbacher, Tom Siebenaler
European Journal of Business Science and Technology 2018, 4(2):126-142 | DOI: 10.11118/ejobsat.v4i2.131
With this study, we will test the interrelations between the psychological concept of self-efficacy of managers and its influences on the resistance to change. The results show that it makes a qualitative difference, if change in competences occurs in a positive or a negative direction and that there is a clear predisposition of managers concerning change. Both results have to be taken into account in designing changes processes.
The Financial Accelerator in Europe after the Financial Crisis
Klára Baková
European Journal of Business Science and Technology 2018, 4(2):143-155 | DOI: 10.11118/ejobsat.v4i2.136
This paper investigates the mechanism of a financial accelerator. In particular, it examines the procyclicality of credit margins in Europe after the financial crisis, with an additional split into small, medium and large-sized banks. The empirical analysis is in contrast with contemporary authors because it approves that the financial accelerator is not present on the European market after the financial crisis. It could be caused by multiple factors, for example structural changes during the financial crisis, a change in the behaviour of commercial banks or extremely low interest rates. We tested our hypothesis on a dataset that consists of a data...
Factors Influencing Dividend Policy in Bangladesh: Survey Evidence from Listed Manufacturing Companies in Dhaka Stock Exchange
Mohammad Shahidul Islam, ATM Adnan
European Journal of Business Science and Technology 2018, 4(2):156-173 | DOI: 10.11118/ejobsat.v4i2.132
A firm considers various factors when approaching a dividend policy decision. To analyze the determinants of dividend policy in the context of Bangladesh, questionnaire survey has been done from financial decision makers of sample companies. The nonparametric test and factor analysis is used for interpreting results. The research finding exhibits that in the first stage, the economic related factor, legal constraint factor, capital market related factor, residual policy factor, capital source factor and clientele factors are considered in dividend decision making. Then in the second stage, the companies follow the preceding years' pattern of dividend...
Differences of Diversity Attitudes between Employees with and without an Immigration Background: The Case of Germany
Petia Genkova
European Journal of Business Science and Technology 2018, 4(2):174-186 | DOI: 10.11118/ejobsat.v4i2.115
The demographic shift in the age structure has the effects that many ageing employees work in organisations. Migration can slow down the ageing of population but could not stop it. More and more people with immigration background work in organisations. Therefore, the question is whether diversity sensitive attitudes count for all diversity aspects. The central aim of the study is to deal with the problem fields of multicultural teamwork. Thereby, the focus is on the collaboration of employees with and without immigration background. The interviews with employees with and without an immigration background of various company branches were conducted....
Cybersexual Harassment as ICTs Development Consequences: A Review
Jūratė Kuklytė
European Journal of Business Science and Technology 2018, 4(2):187-195 | DOI: 10.11118/ejobsat.v4i2.137
Rapid progress of information and communication technologies (ICTs) affected the evolution of sexual harassment. Cybersexual harassment can be exposed via social media but as well might be a tool for harassers to attack or stalk individuals after anonysmously. This evolution of phenomenon enter to virtual reality require changes in differenr levels: individual, enterprise and state to counter the hybrid threats. The proposed conceptual framework reflects the main vulnerable groups, consequences. These main aspects trigger for the development of ICTs in order to change organizational policies, political and security regulations.
An Analysis of Expectations in Industrial Value Engineering Projects
Erhard Teschl
European Journal of Business Science and Technology 2018, 4(2):196-215 | DOI: 10.11118/ejobsat.v4i2.139
This exploratory study addresses the need to identify specific and holistic upfront expectations into industrial value engineering projects for best tailored preparation of an efficient project execution. The analysis includes a total base population of 90 projects, which were conducted between 2010 and 2018 in 16 different industries. Out of those, 63 projects had a narrower value engineering context and have been analyzed with the support of a CAQDAS tool (Computer Assisted Qualitative Data Analysis Software). Analytical results show that participants' expectations in value engineering projects vary depending on their industrial environments, but...