This paper investigates the relationships between stock market indices and four macroeconomics variables, namely crude oil price (COP), money supply (M2), industrial production (IP) and inflation rate (IR) in China and India. The period covers in this study is between January 1999 to January 2009. Using the Augmented Dickey-Fuller unit root test, the underlying series are tested as non-stationary at the level but stationary in first difference. The use of Johansen-Juselius (1990) Multivariate Cointegration and Vector Error Correction Model technique, indicate that there are both long and short run linkages between macroeconomic variable and stock market index in each of these two countries.
We examine the predictive power of implied volatility in the commodity and major developed stock markets for the implied volatility in individual BRICS stock markets. We use daily data from 16 March 2011 to 07 October 2016 and employ the newly developed Bayesian Graphical Structural Vector Autoregressive (BGSVAR) model of Ahelegbey et al. (2016). We report evidence that the predictability of individual implied volatilities in BRICS is generally a function of both global and within the group stock market implied volatilities, and that the role of commodity market volatility is marginal, except for South Africa. Important implications for policy-makers and portfolio-managers are discussed.
This paper is to identify the relationship between the quality of work life (QWL) and performance of Social Insurance workers of Mazandaran province. The method used is a descriptive -survey research. The universe includes all the employees of Social Insurance of Mazandran province. The sample group is set using the Morgan table and members are selected randomly. Tool used is a standard questionnaire based on Richard Walton components of measuring the quality of work Iife(QWL). The Cronbach's alpha coefficient was used to confirm the reliability of the questionnaire and validity of the tools was confirmed using judgmental method. Members of the sample group were chosen from the annual staff performance evaluation. Methods used to analyze the data, included Wilcaxon test and Spearman rank correlation coefficient test and the results have shown that among the eight dimensions of quality of work Iife(QWL), pay fair and adequate pay size, integration and social cohesion, growth opportunities, continuing security, the integration and development of human capabilities are related to performance.
This paper presents an empirical investigation to determine important factors influencing on customer satisfaction in after-sales service network of automotive industry. The study designs two questionnaires, one for measuring the quality of after-sales services and the other for measuring customers' satisfaction. The study selects a sample of 265 randomly selected customers out of 850 people who received the services from an automotive firm in Iran. Cronbach alpha has calculated as 0.82, which is well above the minimum desirable level. Using Spearman correlation the study has detected a positive and meaningful relationship between services and customer satisfaction (r=0.48, Sig. =0.01), a positive relationship between being responsiveness and customer satisfaction (r=0.51, Sig. =0.01) and finally a positive relationship between speed of operation customer satisfaction (r=0.45, Sig. = 0.01). Moreover, there was a positive and meaningful relationship between cost of services and customer satisfaction (r=0.68, Sig. = 0.01) and a positive relationship between quality of services of after-sales services and customer satisfaction (r = 0.61, Sig. =0.01).
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