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Full-Text Articles in Economics

Martingales In Floating Asean+3 Currencies*, Cesar C. Rufino Jan 2014

Martingales In Floating Asean+3 Currencies*, Cesar C. Rufino

DLSU Business & Economics Review

The martingale properties of the floating exchange rates of the ASEAN+3 region are analyzed in this study using contemporary (2000 to 2012) weekly data of inter-bank call rates. The main goal of the analysis is to see if informational efficiency is a feature floating (managed or independently floating) currencies in this coalition of countries still possess despite the current credit crisis and other economic shocks during the period. Employing relevant state-of-the-art econometric techniques, the study sets to empirically determine the presence of two important ingredients of informationally efficient market—the existence of the unit root component and the presence of uncorrelated …


Estimating The Efficiency Of Philippine Public High Schools Using Spatio-Temporal Stochastic Frontier Analysis, Michael Ralph M. Abrigo, Rouselle F. Lavado, Erniel B. Barrios, Brian C. Gozun Jan 2014

Estimating The Efficiency Of Philippine Public High Schools Using Spatio-Temporal Stochastic Frontier Analysis, Michael Ralph M. Abrigo, Rouselle F. Lavado, Erniel B. Barrios, Brian C. Gozun

DLSU Business & Economics Review

This paper proposes a method for modeling production function of education using a stochastic frontier model with spatial temporal terms. Using a unique dataset that combines school achievement scores with school characteristics from 2005-2008, the efficiency of 4,900 public high schools in the Philippines in converting school inputs into test scores was estimated. Results show that the average inefficiency is at 41% and that there is a significant positive spatial externality in efficiency, which means that efficiency in one school can spill over to its neighbors. The model was found to be robust to various environmental variables included in the …


An Approximation Of The Internal Rate Of Return Of Investment In Selected Undergraduate Degree Programs, Editha A. Lupdag–Padama, John Paolo R. Rivera, Rhory C. Fernandez–Go, Krista Danielle S. Yu, Francesca Dianne B. Solis, Rosanina A. Sayoc Jan 2014

An Approximation Of The Internal Rate Of Return Of Investment In Selected Undergraduate Degree Programs, Editha A. Lupdag–Padama, John Paolo R. Rivera, Rhory C. Fernandez–Go, Krista Danielle S. Yu, Francesca Dianne B. Solis, Rosanina A. Sayoc

DLSU Business & Economics Review

The situation of a typical Filipino household, overseas employment, and the culture of migration are deemed as determinants for investing in higher education such as in the specialized fields of accountancy, education science and teacher training, engineering, and nursing. We examine both local and international labor demand for accountants, teachers, engineers, and nurses as well as its underlying implications on the exodus of professionals. As such, the determination of the internal rate of return to investment is of crucial importance to households to fully maximize educational opportunities and for the government and other institutions to confront this globally-changing situation. Using …


The Strategy Dilemma: Why Big Business Moves Seldom Pan Out As Planned, Niceto S. Poblador Jan 2014

The Strategy Dilemma: Why Big Business Moves Seldom Pan Out As Planned, Niceto S. Poblador

DLSU Business & Economics Review

This article looks at the complex dynamics that underlie organizational change and attempts to explain why, under present uncertain environmental conditions, it is not possible to determine in advance the results of strategic moves made by businesses and other types of organizations. It discusses an alternative approach to strategy in today’s world of business and explores the practical applications of experimental methods to the management of change in today’s highly complex, extensively interconnected, and knowledge-driven world.


Human Capital And Savings In An Olg Economy With Migration Possibilities: A Theoretical Note, Lawrence B. Dacuycuy, Dickson A. Lim Jan 2014

Human Capital And Savings In An Olg Economy With Migration Possibilities: A Theoretical Note, Lawrence B. Dacuycuy, Dickson A. Lim

DLSU Business & Economics Review

In a theoretical study by Stark, Helmenstein, and Prskawetz (1998), the presence of migration possibilities may increase human capital formation. This note verifies the robustness of the said result by introducing savings as a choice variable in an overlapping generations model with migration possibilities. Results indicate that human capital formation will still increase provided that certain technical conditions are met.


The China Renaissance: The Rise Of Xi Jinping And The 18th Communist Party Congress By The Writers, Artists And Editors Of The South China Morning Post, Edited By Jonathan Sharp, Tai Wei Lim Jan 2014

The China Renaissance: The Rise Of Xi Jinping And The 18th Communist Party Congress By The Writers, Artists And Editors Of The South China Morning Post, Edited By Jonathan Sharp, Tai Wei Lim

DLSU Business & Economics Review

No abstract provided.


The Contributors, Marites Tiongco Jan 2014

The Contributors, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.


Editor's Note, Marites Tiongco Jul 2013

Editor's Note, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.


The Contributors, Marites Tiongco Jul 2013

The Contributors, Marites Tiongco

DLSU Business & Economics Review

No abstract provided.


A Cut From Above: The Impact Of Loyalty Program Status On Member’S Behavior, Fredelita Espiritu-De Mesa Jul 2013

A Cut From Above: The Impact Of Loyalty Program Status On Member’S Behavior, Fredelita Espiritu-De Mesa

DLSU Business & Economics Review

This study identified the differences on the behavior between elite and non-elite members of a loyalty program. Behaviors measured were personal referrals, personal information sharing, openness to store promotions, increasing purchases, and marketing research support. Results showed the significant differences on behavior such as personal referrals and increasing purchases. The store benefits personal referrals from the non-elite members while increasing purchases from elite members.


Consumption Pattern Of Poor Households In Metro Manila – A Microeconometric Evaluation, Cesar C. Rufino Jul 2013

Consumption Pattern Of Poor Households In Metro Manila – A Microeconometric Evaluation, Cesar C. Rufino

DLSU Business & Economics Review

This study is an attempt to analyze through survey design-consistent consumption profiling the budget allocation pattern of urban poor in Metro Manila. Econometric models of a complete system of Engel curves for the various consumption items are to be employed in the analysis. A value-added characteristic of this research is the incorporation of the complex survey design features of the 2009 Family Income and Expenditure Survey to produce consistent and unbiased standard errors and parameter estimates used in a variety of inferences implemented.


South Koreans Studying In Dlsu-Manila: Challenges And Opportunities In Trade In Education Services, Luz Suplico-Jeong, Rechel G. Arcilla Jul 2013

South Koreans Studying In Dlsu-Manila: Challenges And Opportunities In Trade In Education Services, Luz Suplico-Jeong, Rechel G. Arcilla

DLSU Business & Economics Review

Trade in education services plays a crucial role in economies like Australia, Canada, New Zealand, UK, and USA. The largest component of trade in education services consists of students who travel abroad to study. This market is going to grow as international student mobility continues to increase. The Philippines has been a popular destination for South Korean students who want to study abroad because English is widely spoken. It offers the same quality of English education at a lower cost. This paper examines the economic contribution and challenges of the South Korean students in the Philippines. A marketing strategy to …


Exploring Integrity, Leadership And Value Maximization In Microfinance, Junette A. Perez Jul 2013

Exploring Integrity, Leadership And Value Maximization In Microfinance, Junette A. Perez

DLSU Business & Economics Review

This study intends to review thoughts and expositions on integrity, leadership, and its potential link to value maximization in microfinance. The major source of exposition is from Jensen, Erhard, and Zaffron (2011). Prior reviews revealed that a man with integrity is a man of his word. As such, integrity begins with the mind as the mind compels the desire to exercise the manifestations of integrity. Jensen et al. (2011) measured integrity as equivalent to honoring one’s word. Applying such definition in microfinance, imputed with concepts of leadership with a view of maximizing value in microfinance is limitless as well as …


Impact Of Cooperative Finance On Household Income Generation, Onafowokan Onabanjo Oluyombo Jul 2013

Impact Of Cooperative Finance On Household Income Generation, Onafowokan Onabanjo Oluyombo

DLSU Business & Economics Review

The study assesses the role played by cooperative societies’ loans services on members’ economic condition through household income generation in rural areas where there is no bank or other formal financial providers. Using a questionnaire technique, the study covers the activities of cooperative societies located in rural communities and villages outside the state capital and local government headquarters where there is no electricity, water, and tarred road in Ogun State, Nigeria. Data are analysed using chi-square, t-test, ANOVA, and effect size. The study found that participation in a cooperative is associated with increase in household income, while membership duration, house …


The Nexus Between Bank Credit Development And Economic Growth In Indonesia, Arisyi Fariza Raz Jul 2013

The Nexus Between Bank Credit Development And Economic Growth In Indonesia, Arisyi Fariza Raz

DLSU Business & Economics Review

The issue about the causal relationship between economic growth and credit market development is very important, particularly in a big emerging economy such as Indonesia, which has implemented various financial reforms following East Asian Financial Crisis in 1997. Efficient credit allocation in the banking sector will distribute the credit to the productive sector and, thus, promote economic growth. Meanwhile, development in the business sector will also increase demand for credit, encouraging credit market development. Given this rationale, this study aims at finding the significance of the linkage between economic growth and credit market development in Indonesia by investigating their long-run …


Mobile Phones And Growth Of Microenterprises: A Case Study Of Safaricom’S “Zidisha Biashara” Customers, Geoffrey Wandeto Mwangi, Freddie R. Acosta Jul 2013

Mobile Phones And Growth Of Microenterprises: A Case Study Of Safaricom’S “Zidisha Biashara” Customers, Geoffrey Wandeto Mwangi, Freddie R. Acosta

DLSU Business & Economics Review

The study aimed at establishing the impacts of mobile phones usage on the growth of microenterprises. The study focused on mobile phones (and not telephony or telecommunications in general) because of the speedy adoption and widespread usage of mobile phones witnessed in Kenya over the last 10 years. The objectives of the study were based on three indicators of business growth, that is, income, profitability (cost management), and customer base. The study adopted a descriptive design method since it aimed at discovering and describing if a relationship exists between the variables. The study purposively sampled 100 microenterprises from Safaricom’s Zidisha …


Risk Information Impact On Investment Decisions: Experimental Test Of Pmm Theory, A Case Of Indonesia, Negina Kencono Putri, Zaki Baridwan, -- Supriyadi, Ertambang Nahartyo Jul 2013

Risk Information Impact On Investment Decisions: Experimental Test Of Pmm Theory, A Case Of Indonesia, Negina Kencono Putri, Zaki Baridwan, -- Supriyadi, Ertambang Nahartyo

DLSU Business & Economics Review

The aim of this study is to examine the Probabilistic Mental Model (PMM) Theory as an explanation of the framing effect in the context of reporting risk in different formats in Indonesia. The study was conducted using an online field experimental method with 3x4x2 mixed design, involving 54 investment analysts as participants. Experiments were conducted to test whether different formats of risk information—given the time sequence associated with the framing effect as explained by the PMM Theory—influence the investment decision-making process. The results show that participants chose to take action that is not at risk when the information presented is …


On Paternity Leaves And Parental Leaves – The Dilemma Over “Daddy Days”, Emily Sanchez Salcedo Jul 2013

On Paternity Leaves And Parental Leaves – The Dilemma Over “Daddy Days”, Emily Sanchez Salcedo

DLSU Business & Economics Review

Filipino fathers generally refrain from undertaking childcare functions, an attitude that can be traced from the traditional notion that men are the economic providers while women are the nurturers of the family. In 1996, a breakthrough legislation was passed by the Philippine Legislature providing for seven days of paid paternity leave. A good beginning, but certainly not sufficient if the intention is really for the father and mother to share in the joys and pains of parenthood. Thus, Filipino women are left with no choice but to be mothers first and workers second. The article will look at experiences in …


Quality Of Work Life: A Review Of Literature, Maynard R. Bagtasos Jan 2011

Quality Of Work Life: A Review Of Literature, Maynard R. Bagtasos

DLSU Business & Economics Review

The Quality of Work Life (QWL) is a multi-faceted concept, having multi-dimensional constructs brought about by the variation of interest of the researchers and/or its users. The issue of QWL has become critical due to the increasing demands of today’s business environment and of the family structure. This gave rise to an increased interest in QWL not only in business but also for many professions and fields. Determining QWL always involves the interplay between and among the worker, job content, and job context. Furthermore, the determination of the extent of QWL in an organization is a perceptual undertaking. As such, …


Empirical Comparison Of Extreme Value Theory Vis-À-Vis Other Methods Of Var Estimation Using Asean+3 Exchange Rates, Cesar C. Rufino, Emmanuel G. De Guia Jan 2011

Empirical Comparison Of Extreme Value Theory Vis-À-Vis Other Methods Of Var Estimation Using Asean+3 Exchange Rates, Cesar C. Rufino, Emmanuel G. De Guia

DLSU Business & Economics Review

This study applies Extreme Value Theory in calculating Value-at-Risk (VaR) of portfolios consisting of foreign exchange exposures of ASEAN+3 countries. This paper addresses the issue that traditional VaR models assume normality of the return distribution. Empirical evidence confirms the stylized facts that financial asset returns are typically negatively skewed and fat-tailed. Moreover, risk management concerns itself with the distribution of the tails, or events in the extremes of the distribution. Estimation of magnitude and the likelihood of extreme events should be given greater attention than central tendency characteristics. Thus, this paper proposes the application of Extreme Value Theory in computing …


Correlates Of Poverty: Evidence From The Community-Based Monitoring System (Cbms) Data, Rechel G. Arcilla, Frumencio F. Co, Shirlee R. Ocampo Jan 2011

Correlates Of Poverty: Evidence From The Community-Based Monitoring System (Cbms) Data, Rechel G. Arcilla, Frumencio F. Co, Shirlee R. Ocampo

DLSU Business & Economics Review

This study identified correlates of poverty for Pasay City and Mogpog, Marinduque representing an urban and a rural area in the Philippines, respectively, by utilizing the 2005 census data from its Community-Based Monitoring System. Regression models with the arcsine of the square root of barangay level poverty incidence as dependent variable were investigated which allowed the identification of the correlates of poverty at the barangay level. Results showed that the significant correlates of barangay poverty incidence were average household size, proportion of households whose housing units/lot are not owned and proportion of households who own telephone/cellphone. Furthermore, lower poverty incidences …


The Geographic Profiling Of Poverty And Accessibility: The Case Of Two Provinces In The Philippines, Alexis M. Fillone, Nicanor Roxas Jr., Cristela G. Dakila Jan 2011

The Geographic Profiling Of Poverty And Accessibility: The Case Of Two Provinces In The Philippines, Alexis M. Fillone, Nicanor Roxas Jr., Cristela G. Dakila

DLSU Business & Economics Review

This study attempts to relate the poverty problem in the Philippines using spatial accessibility measures. Spatial accessibility is the ease with which one could avail of the social services and economic opportunities laid in geographic space to the individual. Using the provinces of Eastern Samar and Siquijor Island as case studies, a Social Composite Index (SCI) value for the household was derived from the 13+1 CBMS core indicators of poverty, which represents the unmet needs of the household and which was then aggregated at the barangay level. The spatial accessibility values were estimated by measuring how each barangay, specifically households, …


Audit Committee Observation/Recommendations Versus Practices As A Compliance Of Corporate Governance In India, Debabrata Chatterjee Jan 2011

Audit Committee Observation/Recommendations Versus Practices As A Compliance Of Corporate Governance In India, Debabrata Chatterjee

DLSU Business & Economics Review

The series of accounting scandals have intensified pressure from stakeholders and regulators on the audit committees to do the jobs for which they are hired. Though most companies have audit committees, their role has been limited due to the lack of expertise and time. An active audit committee is important because it indicate the commitment to the issues of interest because of the reports it release about the activities undertaken during the financial year and the efforts made to ensure adequate internal control. Audit committees must be given the role to approve and review audit fees, thus neutralizing the bias …


Empirical Analysis Of Impact Of Capital Market Development On Nigeria’S Economic Growth (1981 – 2008) (Case Study: Nigerian Stock Exchange), Rowland T. Obiakor, Andy T. Okwu Jan 2011

Empirical Analysis Of Impact Of Capital Market Development On Nigeria’S Economic Growth (1981 – 2008) (Case Study: Nigerian Stock Exchange), Rowland T. Obiakor, Andy T. Okwu

DLSU Business & Economics Review

This study empirically examined the impact of capital market development on economic growth in Nigeria for the period 1981-2008. The major tool we employed for empirical analysis is a multiple regression analysis model specified on the basis of hypothesized functional relationship between capital market development and economic growth. For capital market development indicators, we considered ratios of value of shares traded, market capitalization, gross capital formation and foreign private investment, to gross domestic product, as explanatory variables, while we used growth rate of gross domestic product as the dependent variable. We introduced an error correction term to capture the flexibility …


The Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samarthe Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samar¹, Tereso S. Tullao Jr, John Paolo R. Rivera Jan 2011

The Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samarthe Role Of Income And Employment On School Participation Rate In Pasay City And Eastern Samar¹, Tereso S. Tullao Jr, John Paolo R. Rivera

DLSU Business & Economics Review

The Philippines committed itself to the United Nations’ Millennium Development Goals (MDG), one of which is the universal access to primary education by 2015. To address the goal, supply factors and demand factors must be considered. Supply factors refer to the ability of the government to provide resources to finance elementary education. Demand factors refer to the variables affecting household’s decision to demand educational services such as income, education cost, and demographic characteristics of the households: age structure and family characteristics. This study explored the extent to which household income and household head employment status influence elementary school participation rate …


Forecasting Philippine Monthly Inflation Using Tramo/Seats, Cesar C. Rufino Jul 2010

Forecasting Philippine Monthly Inflation Using Tramo/Seats, Cesar C. Rufino

DLSU Business & Economics Review

The study aims to explore the feasibility of adopting for inflation forecasting a sophisticated expert system normally used in routine outlier detection and deseasonalization of time series. Known as TRAMO/SEATS expert system, this twin program is a fully automatic procedure that extracts the trend-cycle, seasonal, irregular and certain transitory components of high frequency time series via the so-called ARIMA-model-based method. The results of the study reveal the feasibility of the use of the technique for routine inflation forecasting. The automatic model building capability of TRAMO/SEATS is exploited to arrive at an ex-ante model that has the ability to generate optimal …


Values Of Females And Males In The East And West: Are They Similar Or Different?, Arnel Onesimo O. Uy, Edward F. Murphy, Regina A. Greenwood Jul 2010

Values Of Females And Males In The East And West: Are They Similar Or Different?, Arnel Onesimo O. Uy, Edward F. Murphy, Regina A. Greenwood

DLSU Business & Economics Review

Understanding whether cross-cultural values are similar or different has become more important in an increasingly global marketplace. Yet, few studies have explored cross-cultural sex-based value structures. This study examines the values of 5,134 male and female working adults in three Eastern nations (Japan, the Philippines, and Thailand) and three Western nations (United States, United Kingdom, and Iceland). For similarities, males and females more highly valued personal than social terminal values. For differences, males in the East more highly valued self-actualization/competence instrumental values. Females in both geographic groups placed higher importance on social terminal values than did males, supporting prior research.


Impact Of Hiked Prices Of Food And Basic Commodities On Poverty In Cambodia: Empirical Evidences From Cbms Five Villages, Try Sothearith, So Sovannarith Jul 2010

Impact Of Hiked Prices Of Food And Basic Commodities On Poverty In Cambodia: Empirical Evidences From Cbms Five Villages, Try Sothearith, So Sovannarith

DLSU Business & Economics Review

The study on the impact of hiked prices of food and basic commodities on poverty is designed as a follow-up CBMS survey of 5 villages in a Northwest province of Cambodia. The hiked prices in Cambodia and in CBMS sites occurred when there were changes in demand and prices of petrol, food and other consumer goods at the international market. The rising prices have immediately resulted in food insecurity for many people and pushed small landholders into indebtedness and deteriorated the capacity of the poor to cope with any future shocks or crises. This requires a stronger social safety net …


Effects Of Rising Food And Oil Prices On Rural Households In Ghana: A Case Study Of Selected Communities In The Dangme West District Using The Cbms Approach, Felix A. Asante, Cynthia A. Tagoe, Alfred A. Boakye Jul 2010

Effects Of Rising Food And Oil Prices On Rural Households In Ghana: A Case Study Of Selected Communities In The Dangme West District Using The Cbms Approach, Felix A. Asante, Cynthia A. Tagoe, Alfred A. Boakye

DLSU Business & Economics Review

This study sought to examine the effects of rising food and oil prices on rural households in Ghana in relation to their food, access to healthcare and education, changes in their work situations, their financial management practices, and their recreational and leisure practices using three selected communities in the Dangme West district of the Greater Accra region – Dodowa, Ningo, and Prampram. A total of 300 households were interviewed. The households were divided concerning the issue of whether their standard of living was better, worse or had remained the same. In general, households that indicated they were worse off currently …


Analysis Of The Impact Of Changes In The Prices Of Rice And Fuel On Poverty In The Philippines, Celia M. Reyes, Alellie B. Sobrevinas, Joel Bancolita, Jeremy De Jesus Jul 2010

Analysis Of The Impact Of Changes In The Prices Of Rice And Fuel On Poverty In The Philippines, Celia M. Reyes, Alellie B. Sobrevinas, Joel Bancolita, Jeremy De Jesus

DLSU Business & Economics Review

This study aims to assess the impact of rising prices of rice and fuel on poverty in the Philippines. In particular, the variations in the potential effects among different group of households were analyzed using household level data. Results of the study confirm that the impact of increasing prices of rice and fuel vary across different groups of households depending on the sector of employment, level of urbanity, income group and geographical location. In fact, there are losers and gainers from the recent increases in the prices of rice and fuel. In response to higher prices, households adopted different coping …