Diese Präsentation wurde erfolgreich gemeldet.
Wir verwenden Ihre LinkedIn Profilangaben und Informationen zu Ihren Aktivitäten, um Anzeigen zu personalisieren und Ihnen relevantere Inhalte anzuzeigen. Sie können Ihre Anzeigeneinstellungen jederzeit ändern.

11(5) 2020 ITJEMAST Research Papers

32 Aufrufe

Veröffentlicht am

2020 published articles from TuEngr.com Education status; Educational aid; Reform challenges; Basic education; Education Reforms; Poor education; Teacher training; Educational failure Micro-additives; Production line; Feed technology; Mechanized feeding system; Feed binder; Vitamins; protein substances; Biological value; Compound feed. Architectural creativity; Architectural expertise; Architectural education; Architectural design process; Architectural design thinking. Mergers & Acquisitions; Political Stability; Governance Quality; Horizontal and Non-horizontal Acquisitions; Serial and First-time Acquirors; Event Study; Cumulative Abnormal Returns. Remuneration Motivation; Consumers' attitudes; Purchase intentions; Behavioral Intention; Electronic word of mouth; Young segment consumers; Perceived social media advertising value (PSMAV). Design competition; Public Interest Design; Learning outcomes; User satisfaction; Design studio pedagogy; Live projects. Systematic risk (beta); Degree of operating leverage (DOL); Degree of financial leverage (DFL); Degree of combined leverage (DCL); Firm size; Tobin's Q.

Veröffentlicht in: Technologie
  • Als Erste(r) kommentieren

  • Gehören Sie zu den Ersten, denen das gefällt!

11(5) 2020 ITJEMAST Research Papers

  1. 1. Volume 11 Issue 5 (2020) ISSN 2228-9860 eISSN 1906-9642 http://TuEngr.com DEVELOPMENT OF TECHNOLOGY FOR PRODUCTION OF PROTEIN-VITAMIN GRANULATE PAKISTAN'S PRIMARY EDUCATIONAL REFORMS AND CHALLENGES AN EVALUATION AND PREDICTION CUSTOMER LOYALTY BASED ON DECISION TREE AND ARTIFICIAL NEURAL NETWORK: CASE OF OFOGH KOOROSH STORES IN TEHRAN BIOLOGICALLY ACTIVE FEED ADDITIVE DEVELOPMENT BASED ON KERATIN AND COLLAGEN-CONTAINING RAW MATERIALS FROM POULTRY WASTE THE REVIVAL OF TRADITIONAL PASSIVE COOLING TECHNIQUES FOR SCHOOL BUILDINGS THROUGH WINDCATCHERS DISAGGREGATED ACCRUALS AND PREDICTION OF FUTURE CASH FLOWS: AN EFFECT OF GLOBAL FINANCIAL CRISIS 2008-09 ELASTICITY MEASUREMENT OF FOOD DEMAND IN PAKISTAN: CROSS-PRICE AND OWN PRICE ELASTICITY ANALYSIS USE OF WHITE LUPINE IN THE DIETS OF MEAT CHICKENS OF BASELINE AND BROILER CHICKENS OF SELECTION OF SGC "SMENA" IMPACTS OF INTEREST RATE ON HOUSING PRICES: EVIDENCE FROM HO CHI MINH CITY, VIETNAM EFFECTS OF KNOWLEDGE-BASED, INTELLECTUAL CAPITAL AND INNOVATION METHODS ON HUMAN RESOURCE MANAGEMENT: CASE STUDY OF MINISTRY OF EDUCATION, TEHRAN DISTRICT 7 COMPARISON OF PUBLIC, PRIVATE SCHOOLS, AND DEENI MADARIS SECONDARY STUDENTS REGARDING CONFIDENCE AS SOCIAL ADJUSTMENT IN THE SOCIETY IMPACTS OF QWL (PROMOTION & WORK ENVIRONMENT) ON DOCTORS' PERFORMANCE IN PUBLIC SECTOR HOSPITALS OF PAKISTAN WORKING CAPITAL MANAGEMENT AND PROFITABILITY OF FISHERIES ENTERPRISES BY APPLYING GMM CONTAGION AND INTERDEPENDENCE AMONG GOLD, OIL, FOREX, AND ASIAN EMERGING EQUITY MARKETS URBAN SOLID WASTE DEVELOPMENT: A REVIEW OF NIGERIA'S WASTE MANAGEMENT POLICY IMPACTS OF LEVERAGE ON SYSTEMATIC RISK BASED ON CAPITAL ASSET PRICING MODEL: A COMPARISON OF HIGH AND LOW CAPITAL INTENSIVE FIRMS A REVIEW OF AN ALTERNATIVE STUDIO PEDAGOGY FOR ALTERNATIVE SPACES: CASE STUDIES FROM A STUDENT'S DESIGN COMPETITION ROLES OF REMUNERATION ON CONSUMER RESPONSES TOWARDS SOCIAL MEDIA ADVERTISING: A PAKISTANI PERSPECTIVE CROSS-BORDER MERGERS & ACQUISITIONS AND SHAREHOLDERS' VALUE: NEW INSIGHTS FROM UK ACQUIRING FIRMS LEARNING FROM COGNITIVE PROCESS OF VISIONARY MALAYSIAN ARCHITECT ON GENERATING CREATIVE, NOVEL ARCHITECTURAL DESIGN IDEAS
  2. 2. International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies http://TuEngr.com International Editorial Board Editor-in-Chief Ahmad Sanusi Hassan, PhD Professor Universiti Sains Malaysia, MALAYSIA Executive Editor Boonsap Witchayangkoon, PhD Associate Professor Thammasat University, THAILAND Editorial Board: Assoc. Prof. Dr. Mohamed Gadi (University of Nottingham, UNITED KINGDOM) Professor Dr.Hitoshi YAMADA (Yokohama National University, JAPAN) Professor Dr. Chuen-Sheng Cheng (Yuan Ze University, TAIWAN ) Professor Dr.Mikio SATOMURA (Shizuoka University, JAPAN) Professor Dr.Chuen-Sheng Cheng (Yuan Ze University, TAIWAN) Emeritus Professor Dr.Mike Jenks (Oxford Brookes University, UNITED KINGDOM ) Professor Dr.I Nyoman Pujawan (Sepuluh Nopember Institute of Technology, INDONESIA) Professor Dr.Toshio YOSHII (EHIME University, JAPAN) Professor Dr.Neven Duić (University of Zagreb, CROATIA) Professor Dr.Dewan Muhammad Nuruzzaman (University Malaysia Pahang MALAYSIA) Professor Dr.Masato SAITOH (Saitama University, JAPAN) Scientific and Technical Committee & Editorial Review Board on Engineering, Technologies and Applied Sciences: Associate Prof. Dr. Paulo Cesar Lima Segantine (University of São Paulo, BRASIL) Associate Prof. Dr. Kurt B. Wurm (New Mexico State University, USA ) Associate Prof. Dr. Truong V.B.Giang (Vietnam National University, Hanoi, VIETNAM) Associate Prof. Dr. Fatemeh Khozaei (Islamic Azad University Kerman Branch, IRAN) Assistant Prof.Dr. Zoe D. Ziaka (International Hellenic University, GREECE) Associate Prof.Dr. Junji SHIKATA (Yokohama National University, JAPAN) Assistant Prof.Dr. Akeel Noori Abdul Hameed (University of Sharjah, UAE) Assistant Prof.Dr. Rohit Srivastava (Indian Institute of Technology Bombay, INDIA) Assistant Prof. Dr.Muhammad Yar Khan (COMSATS University, Pakistan) Assistant Prof. Dr. David Kuria (Kimathi University College of Technology, KENYA ) Dr. Mazran bin Ismail (Universiti Sains Malaysia, MALAYSIA ) Dr. Salahaddin Yasin Baper (Salahaddin University - Hawler, IRAQ ) Dr. Foong Swee Yeok (Universiti Sains Malaysia, MALAYSIA) Dr.Azusa FUKUSHIMA (Kobe Gakuin University, JAPAN) Dr.Yasser Arab (Ittihad Private University, SYRIA) Dr.Arslan Khalid (Shandong University, CHINA) ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies.
  3. 3. i ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. :: International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies Volume 11 Issue 5 (2020) ISSN 2228-9860 http://TuEngr.com eISSN 1906-9642 FEATURE PEER-REVIEWED ARTICLES IMPACTS OF INTEREST RATE ON HOUSING PRICES: EVIDENCE FROM HO CHI MINH CITY, VIETNAM 11A05A EFFECTS OF KNOWLEDGE-BASED, INTELLECTUAL CAPITAL AND INNOVATION METHODS ON HUMAN RESOURCE MANAGEMENT: CASE STUDY OF MINISTRY OF EDUCATION, TEHRAN DISTRICT 7 11A05B COMPARISON OF PUBLIC, PRIVATE SCHOOLS, AND DEENI MADARIS SECONDARY STUDENTS REGARDING CONFIDENCE AS SOCIAL ADJUSTMENT IN THE SOCIETY 11A05C IMPACTS OF QWL (PROMOTION & WORK ENVIRONMENT) ON DOCTORS' PERFORMANCE IN PUBLIC SECTOR HOSPITALS OF PAKISTAN 11A05D WORKING CAPITAL MANAGEMENT AND PROFITABILITY OF FISHERIES ENTERPRISES BY APPLYING GMM 11A05E CONTAGION AND INTERDEPENDENCE AMONG GOLD, OIL, FOREX, AND ASIAN EMERGING EQUITY MARKETS 11A05F URBAN SOLID WASTE DEVELOPMENT: A REVIEW OF NIGERIA'S WASTE MANAGEMENT POLICY 11A05G IMPACTS OF LEVERAGE ON SYSTEMATIC RISK BASED ON CAPITAL ASSET PRICING MODEL: A COMPARISON OF HIGH AND LOW CAPITAL INTENSIVE FIRMS 11A05H A REVIEW OF AN ALTERNATIVE STUDIO PEDAGOGY FOR ALTERNATIVE SPACES: CASE STUDIES FROM A STUDENT'S DESIGN COMPETITION 11A05I ROLES OF REMUNERATION ON CONSUMER RESPONSES TOWARDS SOCIAL MEDIA ADVERTISING: A PAKISTANI PERSPECTIVE 11A05J CROSS-BORDER MERGERS & ACQUISITIONS AND SHAREHOLDERS' VALUE: NEW INSIGHTS FROM UK ACQUIRING FIRMS 11A05K LEARNING FROM COGNITIVE PROCESS OF VISIONARY MALAYSIAN ARCHITECT ON GENERATING CREATIVE, NOVEL ARCHITECTURAL DESIGN IDEAS 11A05L
  4. 4. ii DEVELOPMENT OF TECHNOLOGY FOR PRODUCTION OF PROTEIN- VITAMIN GRANULATE 11A05M PAKISTAN'S PRIMARY EDUCATIONAL REFORMS AND CHALLENGES 11A05N AN EVALUATION AND PREDICTION CUSTOMER LOYALTY BASED ON DECISION TREE AND ARTIFICIAL NEURAL NETWORK: CASE OF OFOGH KOOROSH STORES IN TEHRAN 11A05O BIOLOGICALLY ACTIVE FEED ADDITIVE DEVELOPMENT BASED ON KERATIN AND COLLAGEN-CONTAINING RAW MATERIALS FROM POULTRY WASTE 11A05P THE REVIVAL OF TRADITIONAL PASSIVE COOLING TECHNIQUES FOR SCHOOL BUILDINGS THROUGH WINDCATCHERS 11A05Q DISAGGREGATED ACCRUALS AND PREDICTION OF FUTURE CASH FLOWS: AN EFFECT OF GLOBAL FINANCIAL CRISIS 2008-09 11A05R ELASTICITY MEASUREMENT OF FOOD DEMAND IN PAKISTAN: CROSS- PRICE AND OWN PRICE ELASTICITY ANALYSIS 11A05S USE OF WHITE LUPINE IN THE DIETS OF MEAT CHICKENS OF BASELINE AND BROILER CHICKENS OF SELECTION OF SGC "SMENA" 11A05T Contacts: Professor Dr.Ahmad Sanusi Hassan (Editor-in-Chief), School of Housing, Building and Planning, UNIVERSITI SAINS MALAYSIA, 11800 Minden, Penang, MALAYSIA. Tel: +60-4-653-2835 Fax: +60-4-657 6523, Sanusi@usm.my, Editor@TuEngr.com Associate Professor Dr.Boonsap Witchayangkoon (Executive Editor), Thammasat School of Engineering, THAMMASAT UNIVERSITY, Klong-Luang, Pathumtani, 12120, THAILAND. Tel: +66-2-5643005 Ext 3101. Fax: +66-2-5643022 DrBoonsap@gmail.com, Editor@TuEngr.com Managing Office TUENGR Group, 88/244 Moo 3, Moo Baan Saransiri, Klong#2, KlongLuang, Pathumtani, 12120, THAILAND. Tel/WhatsApp: +66-995535450. P l P id i MALAYSIA/THAILAND Side image is the colorful models of Corona COVID19 virus.
  5. 5. ii DEVELOPMENT OF TECHNOLOGY FOR PRODUCTION OF PROTEIN- VITAMIN GRANULATE 11A05M PAKISTAN'S PRIMARY EDUCATIONAL REFORMS AND CHALLENGES 11A05N AN EVALUATION AND PREDICTION CUSTOMER LOYALTY BASED ON DECISION TREE AND ARTIFICIAL NEURAL NETWORK: CASE OF OFOGH KOOROSH STORES IN TEHRAN 11A05O BIOLOGICALLY ACTIVE FEED ADDITIVE DEVELOPMENT BASED ON KERATIN AND COLLAGEN-CONTAINING RAW MATERIALS FROM POULTRY WASTE 11A05P THE REVIVAL OF TRADITIONAL PASSIVE COOLING TECHNIQUES FOR SCHOOL BUILDINGS THROUGH WINDCATCHERS 11A05Q DISAGGREGATED ACCRUALS AND PREDICTION OF FUTURE CASH FLOWS: AN EFFECT OF GLOBAL FINANCIAL CRISIS 2008-09 11A05R ELASTICITY MEASUREMENT OF FOOD DEMAND IN PAKISTAN: CROSS- PRICE AND OWN PRICE ELASTICITY ANALYSIS 11A05S USE OF WHITE LUPINE IN THE DIETS OF MEAT CHICKENS OF BASELINE AND BROILER CHICKENS OF SELECTION OF SGC "SMENA" 11A05T Contacts: Professor Dr.Ahmad Sanusi Hassan (Editor-in-Chief), School of Housing, Building and Planning, UNIVERSITI SAINS MALAYSIA, 11800 Minden, Penang, MALAYSIA. Tel: +60-4-653-2835 Fax: +60-4-657 6523, Sanusi@usm.my, Editor@TuEngr.com Associate Professor Dr.Boonsap Witchayangkoon (Executive Editor), Thammasat School of Engineering, THAMMASAT UNIVERSITY, Klong-Luang, Pathumtani, 12120, THAILAND. Tel: +66-2-5643005 Ext 3101. Fax: +66-2-5643022 DrBoonsap@gmail.com, Editor@TuEngr.com Managing Office TUENGR Group, 88/244 Moo 3, Moo Baan Saransiri, Klong#2, KlongLuang, Pathumtani, 12120, THAILAND. Tel/WhatsApp: +66-995535450. P l P id i MALAYSIA/THAILAND Side image is the colorful models of Corona COVID19 virus.
  6. 6. *Corresponding author (Toan Ngoc Bui). Email: buingoctoan@iuh.edu.vn ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05A http://TUENGR.COM/V11/11A05A.pdf DOI: 10.14456/ITJEMAST.2020.81 1 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies http://TuEngr.com PAPER ID: 11A05A IMPACTS OF INTEREST RATE ON HOUSING PRICES: EVIDENCE FROM HO CHI MINH CITY, VIETNAM Toan Ngoc Bui 1* 1 Faculty of Finance and Banking, Industrial University of Ho Chi Minh City (IUH), VIETNAM. A R T I C L E I N F O A B S T R A C T Article history: Received 30 July 2019 Received in revised form 26 November 2019 Accepted 06 December 2019 Available online 19 December 2019 Keywords: House price index; Housing market; Lending interest rate; Real estate in Vietnam; ARDL. The paper investigates the impact of interest rate on housing prices in Ho Chi Minh city from 2009:Q1 to 2018:Q4. The author employs the Autoregressive Distributed Lag (ARDL) approach to estimate the research model. The results indicate that housing prices are significantly influenced by the interest rate in the short run and long run. Specifically, the interest rate exerts a positive impact on housing prices in the short run. However, this influence turns into negative in the long run. The study greatly succeeds in finding the impact of interest rate on housing prices in the short run and long run. Further, the results provide first empirical evidence on the correlation between interest rates and housing prices in Ho Chi Minh city as well as Vietnam, thereby being meaningful for Ho Chi Minh city as well as other provinces in Vietnam. Disciplinary: Management Sciences (Banking, Real Estate Study). ©2020 INT TRANS J ENG MANAG SCI TECH. 1. INTRODUCTION As the biggest economic centre of Vietnam, Ho Chi Minh city attracts more and more inter- provincial migrants. This has put more pressure on the city with the rise in infrastructure and housing demands. However, it is not always easy to purchase a house here due to the unpredictable fluctuations in housing prices. Also, considerable fluctuations in interest rate (even with high increase) make it difficult to get loans from banks (Figure 1). More than that, these fluctuations are the main root of changes in residential property prices (Tse et al., 2014). Thus, to analyze the impact of interest rate on housing prices is essential to Ho Chi Minh city. These results provide a reliable basis for the authorities in stabilizing interest rates and boosting a sustainable housing market. In addition, this facilitates residents in need to buy a house. Nevertheless, despite its necessity, only a few existing studies have examined the influence of interest rate on housing prices in Ho Chi Minh city. Most of them have been conducted in developed countries, not developing ones like Vietnam. This is a big research gap to be filled. ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies
  7. 7. 2 Toan Ngoc Bui Figure 1: Lending interest rate and housing prices in Ho Chi Minh City. Furthermore, there exist different views on this topic. Indeed, some scholars state that interest rate exerts a negative impact on housing prices (for example, Adams & Fuss, 2010; Xu & Chen, 2012; Kengne et al., 2013; Kivedal, 2013; Engsted & Pedersen, 2014; Zhu et al., 2017). Meanwhile, it is believed that a mild rise in interest rate will enhance the housing market, which in turn raises the property prices. In other words, the interest rate is positively correlated to housing prices (for example, Wadud et al., 2012; Tse et al., 2014; Zhang et al., 2016; Gaspareniene et al., 2017; Tupenaite et al., 2017). This paper investigates the impacts of interest rate on housing prices in Ho Chi Minh City. 2. LITERATURE REVIEW An interest rate is an essential tool of monetary policy. Accordingly, to control the interest rate should be one of its targets. Also, the procedure to complete a mechanism of interest rate control always ensures a monetary policy target which is economic stability. Moreover, interest rate greatly contributes to stabilizing the housing market (Tse et al., 2014; Bui, 2019b) which represents a market for properties being purchased, sold and rented, thereby forming prices. Therefore, the housing market is frequently indicated by the house price index, a statistically weighted average price of each region at a specific time (Vries et al., 2009). The impact of interest rate on housing prices has been researched in different economies and regions. In summary, the existing literature could be divided into two following mainstreams: The negative impact of interest rate on housing prices: A significant rise in the interest rate causes a decrease in the housing market. Also, it becomes more difficult for citizens to get a mortgage, which in turn negatively affects the housing prices. The negative effect of interest rate on housing prices has been revealed in many empirical studies. For instance, by analyzing data of 15 countries, Adams and Fuss (2010) reported that a 1% increase in interest rate will decrease housing demands, thereby giving a 0.3% fall to housing prices in the long run. Xu and Chen (2012) found the negative causality between the interest rate and housing prices in 70 China’s large and medium cities. In the same vein, Kengne et al. (2013) also stressed that the interest rate exerts a negative influence on housing prices in South Africa. At that time, Kivedal (2013) stated that a rise in interest rate can reduce bubbles in the U.S real estate market, which is the negative effect of interest rate on house price alternatively. Further, Engsted and Pedersen (2014) concluded that interest rate is negatively 0 2 4 6 8 10 12 14 16 18 20 80 85 90 95 100 105 110 Lendinginterestrate(%) Housingprices(points) Housing prices Lending interest rate
  8. 8. *Corresponding author (Toan Ngoc Bui). Email: buingoctoan@iuh.edu.vn ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05A http://TUENGR.COM/V11/11A05A.pdf DOI: 10.14456/ITJEMAST.2020.81 3 related to house prices in 18 OECD countries. In addition, it was deduced that a low-interest rate can lead to the bubble phenomenon in the property market. More recently, Zhu et al. (2017) examined data of 11 European countries and confirmed the negative effect of interest rate on housing prices. The positive impact of interest rate on housing prices: Lending is one of the main activities of commercial banks, especially those in developing countries. Hence, a mild rise in interest rate (lending interest rate particularly) helps banks increase their income, thereby having sufficient financial resources to improve their services and abilities of credit supply for the housing market. This eventually stimulates a better performance of the housing market. Alternatively, the interest rate is positively related to housing prices. This positive impact has been revealed in some empirical studies. For example, Wadud et al. (2012) found the positive effect of interest rate on housing prices in Australia, which reaches a high value in the short term and afterward gradually decreases. In another research, Tse et al. (2014) stated that interest rate is positively correlated to housing prices in England. Sharing the same view, Zhang et al. (2016) also stressed that interest rate exerts a positive influence on housing prices in China’s metropolises, and the impact gradually decreases from bigger cities to smaller cities. Recently, Gaspareniene et al. (2017) highlighted that 49.23% of the variation in interest rate could be explained by fluctuations in housing prices in Lithuania, significantly with positive impact. Also, Tupenaite et al. (2017) concluded on this positive causality in Litva. Therefore, housing prices may be significantly affected by interest rates. However, a majority of empirical studies have analyzed developed countries, not developing countries. Moreover, the level of this influence still attracts different views. Thus, to find empirical evidence on the causality between the interest rate and housing prices in developing economies is essential. 3. DATA AND METHODOLOGY 3.1 DATA The author collects quarterly data from 2009:Q1 to 2018:Q4. In specific, data on interest rates are obtained from the International Monetary Fund (IMF) while those on housing prices of Ho Chi Minh city are collected from sources of Savills Vietnam. As a characteristic of Vietnam, Savills Vietnam is the only source that has released quarterly data on Ho Chi Minh city’s housing prices since the first quarter of 2009. As a result, the author can only collect quarterly data in this period. 3.2 METHODOLOGY This study employs the Autoregressive Distributed Lag (ARDL) approach to analyze the impact of interest rate on housing prices in Ho Chi Minh city. Following earlier studies, the lending interest rate is utilized for the analysis because of its direct influence on housing prices. The model is estimated by employing the ARDL approach in order to reveal the impact of interest rate on housing prices in the short term and long term. Moreover, this approach is suitable for the model with short data series (Pahlavani et al., 2005; Bui, 2019a; Bui, 2019b), which is a characteristic of Vietnam’s data. To examine the impact of interest rate on housing prices in Ho Chi Minh city, the research model is proposed with the following models. Table 1 gives details of the variables. Long-term impact: ttt vLIRHPI  10  (1).
  9. 9. 4 Toan Ngoc Bui Short-term impact: tt k j jt k j jtt ECMLIRHPIHPI         1 0 2 1 10 (2). Where: Dependent variable: House price index (HPI). Independent variable: Lending interest rate (LIR). Error correction mode: ECM. The symbol ε is the model error term. Table 1: Summary of variables. Variable name Code Source How to measure House price index HPI Savills Vietnam The logarithm of the house price index in Ho Chi Minh City Lending interest rate LIR IMF The lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. 4. EMPIRICAL RESULTS 4.1 DESCRIPTIVE STATISTICS In fact, the house price index in Ho Chi Minh city fluctuates constantly (Figure 1). Table 2, house price index in Ho Chi Minh city reached the top in the third quarter of 2009 (105 points) and the bottom in the last counterpart of 2013 (88.7 points). Meanwhile, the lending interest rate reached the highest value in the second quarter of 2011 (18.02%) and the lowest value in the third counterpart of 2015 (6.96%). Lending interest rate and house price index have gradually been stabilized recently. Table 2: Descriptive statistics of all variables. Variable Mean Min Max House price index in Ho Chi Minh city (points) 93.928 88.700 105 Lending interest rate (%) 10.094 6.960 18.020 4.2 DICKEY-FULLER TEST The Augmented Dickey-Fuller test (1979) is adopted to examine the stationarity of the data series. Table 3 gives the Dickey-Fuller test result. Table 3: Dickey-Fuller test. Variable At Level At ∆ I(0) I(1) House price index (HPI) 0.575 0.000*** Lending interest rate (LIR) 0.878 0.010*** Note: *** indicates significance at the 1% level. Table 3 shows that the data series of a house price index (HPI) and lending interest rate (LIR) become stationary after the first difference I(1) at the 1% level of significance. 4.3 ARDL BOUND TESTING COINTEGRATION The lag of variables is calculated based on the Bayesian Information Criterion (BIC). Next, the ARDL bound test developed by Pesaran et al. (2001) is also used to test cointegration among the data series. Table 4: ARDL bound testing cointegration. F = 17.200 F 10% 5% 1% p-value I(0) I(1) I(0) I(1) I(0) I(1) I(0) I(1) 4.163 5.018 5.205 6.182 7.699 8.935 0.000*** 0.000*** Note: *** indicates significance at the 1% level.
  10. 10. *Corresponding author (Toan Ngoc Bui). Email: buingoctoan@iuh.edu.vn ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05A http://TUENGR.COM/V11/11A05A.pdf DOI: 10.14456/ITJEMAST.2020.81 5 Table 4 indicates that F values at 17.200, which is above the upper bound I(1) and significant at the 1% level. It can be deduced that there exists cointegration among the data series at the 1% level of significance. In other words, the ARDL approach performs well in testing the causality between the interest rate and housing prices in the long run and short run. 4.4 RESULTS OF THE COEFFICIENT ESTIMATION It can be seen from Table 5 that the model is significant at the 1% level (Prob>F = 0.000). R- squared is 57.31%, which means that 57.31% of fluctuations in property prices in Ho Chi Minh City could be explained by lending interest rates. The results show that there is no autocorrelation (Prob>chi2 = 0.836) and heteroskedasticity (Prob>chi2 = 0.456) issues in the model. Also, Ramsey reset test reveals that none of any important variables are not omitted (Prob>F = 0.707). The normality test concludes that the model has a standard distribution (Prob>chi2 = 0.421). Consequently, the results are valid. Table 5: ARDL The long-run and short-run results. Variable Coef. Prob. Long-run results LIR -0.009 0.064* Short-run results LIR -0.003 0.216 LIR(-1) 0.006 0.019** LIR(-2) 0.005 0.021** ECM(-1) -0.167 0.002*** Constant 0.771 0.001*** R-squared 57.31% Significance level Prob > F = 0.000*** Autocorrelation test Prob > chi2 = 0.836 Heteroskedasticity test Prob > chi2 = 0.456 Normality test Prob>chi2 = 0.421 Ramsey Reset test Prob > F = 0.707 Note: * , ** , and *** indicate significance at the 10%, 5%, and 1% level, respectively. Figure 2: Stability tests. Next, the stability is tested by using a cumulative sum of recursive residuals (CUSUM) and the cumulative sum of squares of recursive residuals (CUSUM squared). Figure 2 indicates that both CUSUM and CUSUM squared are within the standard bound at the 5% level of significance. It can thus be concluded that the model has its stability. From Table 5, it can be deduced that the house price index is significantly influenced by the lending interest rate in the long term and short term. Particularly, the lending interest rate exerts negative impact (β = -0.009) on house price index in the long run at the 10% level of significance. However, in the short run, the influence of the house price index on the lending interest rate is positive CUSUM squaredCUSUM
  11. 11. 6 Toan Ngoc Bui and significant at the 5% level. This impact is obviously expressed by the lag of one quarter (= 0.006) and two quarters (= 0.005). Thus, in the short run, an increase in interest rate can stimulate the operation of the housing market, which in turn gives rise to housing prices. In other words, the interest rate is positively related to housing prices in the short term, which is consistent with what Wadud et al. (2012) reported. Nevertheless, in the long run, an excessive increase in interest rate can reduce the investment into the real estate market as well as make it hard for citizens to get a mortgage, leading to a fall in housing prices. The negative correlation between the interest rate and housing prices has been found in previous studies of Adams and Fuss (2010), Xu and Chen (2012), Kengne et al. (2013), Kivedal (2013), Engsted and Pedersen (2014), Zhu et al. (2017). Despite being consistent with earlier studies, an unprecedented finding of this study is revealing the impact of interest rate on housing prices in the long term and short term. More than that, this paper provides first empirical evidence on this impact in Ho Chi Minh city as well as Vietnam. Therefore, this result is meaningful to Ho Chi Minh city’s authorities as well as other provinces’. 5. CONCLUSION With the objective of analyzing the impact of interest rate on housing prices from 2009:Q1 to 2018:Q4, the study reveals that interest rate significantly influences housing prices in the long term and short term. Specifically, in the short run, interest rate exerts a positive impact on property prices, which is clearly expressed at the lag of one quarter and two quarters. Meanwhile, this impact turns out to be negative in the long run. The paper greatly succeeds in finding the correlation between the interest rate and housing prices in the short run and long run, which is an unprecedented finding. Further, the study provides first empirical evidence on the causality between the interest rate and property prices in Ho Chi Minh city as well as Vietnam. Based on this result, the authorities in Ho Chi Minh city, as well as those in other regions, can have a reliable foundation to stabilize interest rate in the combination with the sustainable development of the housing market. The stability of the interest rate will facilitate the house purchase of citizens, especially limiting bubbles in the market. Despite gaining its objective, the paper still has its limitations when some variables which may be correlated to interest rate and housing prices such as economic growth, inflation, financial crisis have not been investigated. More specifically, due to the fact that Ho Chi Minh city’s housing market is still nascent, data adopted are quite short and cannot be collected monthly. 6. DATA AND MATERIAL AVAILABILITY Information regarding this study is available by contacting the corresponding author. 7. REFERENCES Adams, Z., & Fuss, R. (2010). Macroeconomic determinants of international housing markets. Journal of Housing Economics, 19, 38-50. Bui, T.N. (2019a). Inflation and stock index: Evidence from Vietnam. Journal of Management Information and Decision Sciences, 22(4), 408-414. Bui, T.N. (2019b). The Role of Financial Development in the Vietnam Economy. WSEAS Transactions on Business and Economics, 16, 471-476. Dickey, D., & Fuller, W. (1979). Distribution of the Estimators for Autoregressive Time Series with Unit Root. Journal of the American Statistical Association, 74, 427-432.
  12. 12. *Corresponding author (Toan Ngoc Bui). Email: buingoctoan@iuh.edu.vn ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05A http://TUENGR.COM/V11/11A05A.pdf DOI: 10.14456/ITJEMAST.2020.81 7 Engsted, T., & Pedersen, T. (2014). Housing market volatility in the OECD area: Evidence from VAR based return decompositions. Journal of Macroeconomics, 42, 91-103. Gaspareniene, L., Remeikiene, R., & Skuka, A. (2017). Assessment Of The Impact Of Macroeconomic Factors On Housing Price Level: Lithuanian Case. Intellectual Economics, 10, 122-127. Kengne, B., Balcilar, M., Gupta, R., Reid, M., & Aye, G. (2013). Is the relationship between monetary policy and house prices asymmetric across bull and bear markets in South Africa? Evidence from a Markov-switching vector autoregressive model. Economic Modelling, 32, 161-171. Kivedal, B. (2013). Testing for rational bubbles in the US housing market. Journal of Macroeconomics, 38, 369-381. Pahlavani, M., Wilson, E., & Worthington, A. (2005). Trade-GDP Nexus in Iran: An Application of the Autoregressive Distributed Lag (ARDL) Model. American Journal of Applied Sciences, 2(7), 1158-1165. Pesaran, M., H., Shin, Y., & Smith, R. (2001). Bounds testing approaches to the analysis of the level relationship. Journal of Applied Econometrics, 16(3), 289-326. Tse, C., Rodgers, T., & Niklewski, J. (2014). The 2007 financial crisis and the UK residential housing market: Did the relationship between interest rates and house prices change?. Economic Modelling, 37, 518-530. Tupenaite, L., Kanapeckiene, L., & Naimaviciene, J. (2017). Determinants of Housing Market Fluctuations: Case Study of Lithuania. Procedia Engineering, 172, 1169-1175. Vries, P., Haan, J., Wal, E., & Mariën, G. (2009). A house price index based on the SPAR method. Journal of Housing Economics, 18, 214-223. Wadud, M., Bashar, O., & Ahmed, H. (2012). Monetary policy and the housing market in Australia. Journal of Policy Modeling, 34, 849-863. Xu, X., & Chen, T. (2012). The effect of monetary policy on real estate price growth in China. Pacific- Basin Finance Journal, 20, 62-77. Zhang, H., Li, L., Hui, E., & Li, V. (2016). Comparisons of the relations between housing prices and the macroeconomy in China’s first-, second- and third-tier cities. Habitat International, 57, 24-42. Zhu, B., Betzinger, M., & Sebastian, S. (2017). Housing Market Stability, Mortgage Market Structure, and Monetary Policy: Evidence from the Euro Area. Journal of Housing Economics, 37, 1-21. Toan Ngoc Bui is a Lecturer at the Faculty of Finance and Banking, Industrial University of Ho Chi Minh City (IUH), Vietnam. He holds a Master of Finance and Banking from Ho Chi Minh City Open University, Vietnam. Currently, he is pursuing a PhD at the University of Finance – Marketing (UFM), Vietnam. His researches are in the fields of financial development, real estate market and applied econometrics.
  13. 13. *Corresponding author (Kaveh Teymournejad). Email: kav.teimoornejad@iauctb.ac.ir ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID: 11A05B http://TUENGR.COM/V11/11A05B.pdf DOI: 10.14456/ITJEMAST.2020.82 1 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies http://TuEngr.com PAPER ID: 11A05B EFFECTS OF KNOWLEDGE-BASED, INTELLECTUAL CAPITAL AND INNOVATION METHODS ON HUMAN RESOURCE MANAGEMENT: CASE STUDY OF MINISTRY OF EDUCATION, TEHRAN DISTRICT 7 Seyed Ali Shahtaheri 1 , Kaveh Teymournejad 1* 1 Management Department, Central Tehran Branch, Islamic Azad University, Tehran, IRAN. A R T I C L E I N F O A B S T R A C T Article history: Received 14 June 2019 Received in revised form 01 November 2019 Accepted 22 November 2019 Available online 19 December 2019 Keywords: Knowledge-based human resource management; Relational asset; Human capital; Structural capital; Innovative performance. Innovation function in organizations is; primarily; considered to be a human issue in which individuals cultivate opinions to develop and implement them with respect to knowledge and individuals′ relationships in the organization. An innovative function can influence human resource management (HRM) and existing knowledge in organizations′ innovation; the study's purpose is to investigate the effect of knowledge-based; intellectual capital and innovation methods of HRM in Ministry of Education; Tehran District 7. The study′s methodology is description-survey. The method of data collection is field type, and the method of data collection has been a standard questionnaire; the statistical population includes 60 staff of the Ministry of Education in Tehran District-7. Valid and measurable questionnaires have been collected and then they have been analyzed by structural equations SmartPls2; then obtained results show that immediate factors are effective between HRM and innovative function in this study. Disciplinary: Management Sciences (HRM). ©2020 INT TRANS J ENG MANAG SCI TECH. 1. INTRODUCTION Human resource management (HRM) has considered innovation to be a vital factor for organizations to create permanent competitive value in today′s complex and variable environment. When organizations are more innovative in response to variable environments and developing new allowable capabilities, they become more successful; innovative measures are heavily dependent on knowledge, specialty, and employees′ commitment as the process′s input, in order to form innovation, organizations may influence assets to develop organizational specialty and form new ideas. Indeed, knowledge is the complex result of conscious measures related to duties (Maman, 2016) Organizations, in addition to organizational and statutory criteria, need a set of factors which support them in this way and make cooperation and unity possible toward a collective and public strategy (Norouzi et al 2015). ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies
  14. 14. 2 Seyed Ali Shahtaheri, Kaveh Teymournejad 2. THEORETICAL PRINCIPLES In many organizations, activities have faced many factors including market opportunities, cost reduction, and competition to improve performance (Navarro et al, 2010) to show satisfactory performance in tough occasions encountering by markets. Thus, a perspective based on resources in the organizations can be caused by their unique resources, integrated resources and/ or the ability to respond to the environment. Accordingly, there is a distinct difference regarding different organizations’ performances is due to the fact that successful organizations have strategic resources (physical, human and organizational) that their competitors lack these resources (Sinaei et al., 2011). On the other hand, human resources are the core of organizations’ activities, these are humans who work in organizations and the organization does not work automatically (Sheykh-al- Eslami, 2012). One of the symptoms of organizations’ improper statute is the lack of a functioning system in different aspects of the organization including satisfying staff needs, suppliers. On the other hand, lack of an organization evaluation and monitoring system means inability to communicate with inner and outer environment of the organization which are followed by indolence and finally breakdown of organizations (Rezaian et al 2011). Innovation is a vital factor in the organizations to create permanent competitive advantage and value in our changing and complex world. While each activity needs genius and talent, it also needs the knowledge, attention and hardworking of all staff. Innovation term is a wide concept to use related knowledge or information to create or introduce new and useful things. Therefore, innovation can be described as any new idea of an organization and/or industry and/or a nation and/or world (Hosseini 1998). Innovative organizations need a flexible environment to support innovations. Flexibility increases the power of adapting and believing which makes the openness to innovation easier (JafarPour, 2013). A majority of government organizations are looking forward to establishing internalized knowledge management to take advantage of their knowledge and maintain a competitive advantage in national and international. Fast changes in today′s world, organizations have faced different challenges. Pioneer organizations have exploited management means and modern technologies to accomplish organization′s purposes (Ramezani & Soleymani, 2015). Science development and fast changes in today′s world have posed many challenges to organizations. Continuous changes in knowledge have imposed an imbalanced condition on organizations. The most important role which can be dedicated to knowledge management is that we can consider it to be a change methodology. Knowledge management can be the most important factor for a change in the organization because it attracts new knowledge into the organization and manages it (Hosseini and Fard, 2012). It is hard to implement knowledge sharing in organizations and it needs support (Reychav and Weisberg, 2010). Intellectual capital is a non-competitive capital that is contrary to physical capital that can be used for a single purpose at a particular time. Intellectual capital can be used for multi-purposes simultaneously (Zanjirani and Allahi, 2014). Employees create intellectual capital through competency and intellectual agility. In fact, this capital creates an opportunity for the organization using creativity and personal cooperation to acquire trade value (Dastgir et al, 2014). Intellectual capital includes three elements like human capital, structured capital and communicative capital (Khoo et al 2015). Human capital and communicative capital and structured capital cannot change into private property, they shall be shared among staff, customers and suppliers, and these
  15. 15. *Corresponding author (Kaveh Teymournejad). Email: kav.teimoornejad@iauctb.ac.ir ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID: 11A05B http://TUENGR.COM/V11/11A05B.pdf DOI: 10.14456/ITJEMAST.2020.82 3 properties growth needs close attention and monitoring among individuals and organizations (Dastgir et al, 2014). With respect to discussed issues and the importance of subject in Tehran district 7 Ministry of Education, first of all, human is needed to grow and develop more in innovative areas of organizations, knowledge depends on developing and implementing HRM and main innovative factors in district 7, Ministry of Education. Innovative production can be considered to be an important concern which has certain shortages. There is limited data regarding human capital, structured capital for innovative performance and there is a question which says to what extent HRM can be effective in the field of successful and ideal innovative performance? Kianto et al. (2018) obtained findings on 180 Spanish companies have been tested, that intellectual capital is a positive mediator between HRM and innovative performance. The main study question is: does the investigation of knowledge-based HRM impact intellectual capital and innovation in Tehran- district 7 ministry of education? Wikhamn (2019) investigated the way of permanent HRM and its impact on customer satisfaction and customers in Swedish hotels. Respondent hotels are divided into four groups based on their participation in two methods of permanent HRM. Findings showed that the relationship between innovation and customer satisfaction depends on permanent human resource methods. However, innovative acts and methods of permanent human resource impact positively on customer satisfaction. Their interaction shows that an individual can replace customer satisfaction with the other factor. This study shows that methods of permanent HRM increases a hotel′s capability to be more innovative and have more customers. Many studies’ findings showed that structured capital impacts significantly the range of knowledge-based companies′ authority and policies regarding entrance to the market. Human capital plays a critical role in organizational learning and training. Communicative capital helps these companies to act successfully in the field of networking with customers, suppliers of research centers, development and financial sources. Also, many studies explore these relationships in the statistic sample showing that culture improves innovation and also it contains the company′s performance. It can also be a barrier toward innovation, it depends on values and beliefs in which culture cultivates them. This fact clearly shows that adhocracy culture is the best factor and variable to predict innovation and performance. We can conclude that innovation balances the relationship between organizational culture and performance. 3. CONCEPTUAL MODEL The study conceptual model is given within the framework of Figure 1. Based on the issues which have been discussed in the introduction and the importance of study subject, these three hypotheses are made for carrying out this study: H1: H1 Knowledge-based HRM with a mediatory role of human capital impacts the innovative performance of Tehran- District 7 Ministry of Education, Iran. H2: Knowledge-based HRM with a mediatory role of structural capital impacts the innovative performance of Tehran- District 7 Ministry of Education, Iran. H3: Human capital with a mediatory role of structural capital impacts the innovative performance of Tehran- District 7 Ministry of Education, Iran.
  16. 16. 4 Seyed Ali Shahtaheri, Kaveh Teymournejad Figure 1: The study model (after Kianto et al. (2017)). 4. METHOD This study is in the applied form with regard to the study purpose, and it is a descriptive- survey with regard to the study method. In the study, the review also covers Latin and Persian articles, books, and the Internet. A questionnaire has been designed and used to collect data. The study population contains the staff of the District 7 Ministry of Education. 4.1 QUESTIONNAIRE VALIDITY In order to measure the validity of the questionnaire, content reliability has been used. A questionnaire has been handed out among specialists and experts which has asked about the usefulness and uselessness of questions with respect to the variables and purpose of each variable. The completed questionnaires were collected and the validity of content has been given to 12 marketing experts, the content validity has been calculated for the index of identification based on 12 auditors. According to 12 auditors in Table 1, the accepted content validity ratio (CVR) equals 0.56. The numerical calculations results were 0.66 to 1 for each question which illustrated the questions′ validity. Table 1: the content validity of the questionnaire Question Calculated value Question Calculated value Question Calculated value Q1 0.66 Q10 0.84 Q19 1 Q2 0.67 Q11 1 Q20 1 Q3 0.84 Q12 0.66 Q21 1 Q4 1 Q13 1 Q22 1 Q5 1 Q14 1 Q23 0.84 Q6 0.66 Q15 0.84 Q24 1 Q7 0.84 Q16 0.84 Q25 0.67 Q8 0.84 Q17 1 Q9 1 Q18 1 4.2 RELIABILITY OF QUESTIONNAIRE First of all, a primary sample is provided which contains 30 questionnaires before the test, and then SPSS 22 software calculates the reliability with the Cronbach’s alpha method using obtained data. Using SPSS22 software, the alpha amounts have been estimated to be more than 0.827 which shows the questionnaire validity and proper intellectual impression of respondents regarding the content of related variables. Results show that the amount of alpha enjoys the advantage of having the required reliability.
  17. 17. *Corresponding author (Kaveh Teymournejad). Email: kav.teimoornejad@iauctb.ac.ir ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID: 11A05B http://TUENGR.COM/V11/11A05B.pdf DOI: 10.14456/ITJEMAST.2020.82 5 Table 2: coefficient of Cronbach’s alpha No Variable Questions Alpha amount 1 HRM 1-13 0.886 2 Human capital 14-16 0.869 3 Structural capital 17-20 0.827 4 Innovative performance 21-25 0.853 5. FINDINGS In this study, inferential discussions and statistic descriptions have been used to analyze data and test hypotheses. Descriptive statistics contain frequency tables and means, and at inferential level, structured equations have been used including estimation of path coefficient, significance coefficients, and Soyel test. SPSS22 and PLS2 software have been used to analyze data. Respondents′ educational backgrounds: 8.3 percent diploma, 16.7 percent technician, 41.7 percent bachelor, 23.3 percent master’s level, 10.0 percent PhD. Respondents′ ages: 3.3 percent between 25 to 30 years old, 40.0 percent between 31 to 35 years old, 28.3 percent between 36 to 40 years old, 15.0 percent between 41 to 45 years old, 13.3 percent between 46 to 50 years old. The reliability of the index is calculated by measuring factor loads through calculating the amount of indices′ correlation in each structure, and its amount equals and/ or more than 0.7. It proves the fact that reliability is acceptable for the measurement model. Table 3: validity of variables Variables Cronbach alpha Mixed reliability CR˃ 0.7 Shared reliability communality˃ 0.5 HRM 0.904 0.916 0.548 Human capital 0.765 0.864 0.680 Structured capital 0.784 0.860 0.607 Innovative performance 0.802 0.864 0.560 In the present study, indices show that all the questions have factor load of more than 0.7. These results confirm next stages of study. The second validity has been divergent for measurement confirmation and validity which is a complementary criteria. In PLS modeling, two criteria including Fornel Lacker and width loading tests have been used. In the present study, Farnel Laker test is used to investigate known level. On the other hand, each structure has a higher correlation in comparison to other structures. Fornel and Laker results have been presented, the results related to Fornel have been presented in table 4, as you can see, each structure′s load has a higher load in comparison to other structures (factor loads are higher on the main diameter). Therefore, the model′s divergence is confirmed. Table 4: divergent validity of measurement model Main variables 1 2 3 4 HRM 0.740 Human capital 0.651 0.825 Structured capital 0.572 0.591 0.779 Innovative performance 0.626 0.704 0.682 0.748 The obtained results of Table 4 show that there is enough divergent validity among study′s
  18. 18. 6 Seyed Ali Shahtaheri, Kaveh Teymournejad variables. With respect to numbers written on main diameter, the number of figures on each column was less than main diameter. This confirms the level of divergent validity in the study model. 5.1 INVESTIGATING THE STUDY′S INNER MODEL After testing outer model and confirming its validity and reliability (study′s measurement model), inner model or structural model of study is evaluated. Study hypotheses can be dealt by using inner models. Statistic criterion including t, coefficient of determination, and path coefficient are used to evaluate the model. The tested conceptual model has been presented in a standard way or PLS algorithm, and paths′ coefficients (figure 1) and significance coefficients (Figure 2) have been presented. Figure 2: A structural model for determining path coefficients. Figure 3: Structural model for significance coefficients. In Table 5, the rate of R2 impact and structural quality of model which shows the impact of external variables on internal variables, the final amount can be strong in R2 due to this model′s structural state, and independent variables could predict the dependent variable to be strong and it
  19. 19. *Corresponding author (Kaveh Teymournejad). Email: kav.teimoornejad@iauctb.ac.ir ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID: 11A05B http://TUENGR.COM/V11/11A05B.pdf DOI: 10.14456/ITJEMAST.2020.82 7 has been on average for independent variables. Table 5: The amount of internal and external variables′ impacts Variable R2 Q2 HRM Human capital 0.424 0.287 Structural capital 0.350 0.377 Innovative performance 0.987 0.251 The general model fitting 0.593 As we considered the obtained results, R2 and Q2 show that independent variables were able to predict independent variables on average or above and the general fitting is strong. The outputs of PLS prove the study′s hypotheses which have been shown in table (6). As you can see, study′s hypotheses have been investigated with respect to the statistic amount of 1. Table 6: results of the studied hypotheses. Hypotheses Test statistic Std. Error p-value Hypothesis Results H1 5.76 0.021 <0.001 confirmed H2 2.76 0.103 0.005 confirmed H3 3.18 0.104 0.001 confirmed 6. CONCLUSION In the study, we have dealt with investigating the effect of knowledge-based human resource management methods, on innovative and intellectual capital and a number of results have been reached which are dealt with based on hypothesis: First hypothesis: knowledge-based HRM is effective with mediatory role of human capital on innovative performance of District 7 Ministry of Education in Tehran. Regarding structural model and mediatory effect of human capital, statistic hypothesis H0 has been confirmed and H1 has been rejected between knowledge-based HRM and innovative performance of Ministry of Education because its P-value (<0.001) is less than 0.05. In this study, as knowledge-based HRM affects innovative performance. Based on the effect of all main and side hypotheses, we can conclude that the effectiveness of the mediatory factor related to the social capital on HRM and innovative performance is acceptable, obtained results are consistent with study′s findings of Ino & et al in 2017. Second hypothesis: knowledge-based HRM with mediatory role of structural capital impacts innovative performance of Ministry of Education in Tehran district-7. With respect to the structural model and mediatory role of structural capital, H0 is confirmed and H1 is rejected because P-value equals 0.005 and this amount is less than 0.05. As knowledge-based HRM impacts structural capital and also impacts innovative performance. Generally, there is an impact between HRM and innovative performance, with respect to the effect of all main and side hypotheses, we can conclude that the effect of mediatory role of structural capital and innovative performance is acceptable, obtained results are consistent with study′s findings of Ino et al. in 2017. Third hypothesis: human capital is effective with the mediatory role of structural capital on innovative performance in the Ministry of Education- Tehran district-7. Regarding structural model and mediatory role of structural capital, it is effective between
  20. 20. 8 Seyed Ali Shahtaheri, Kaveh Teymournejad human capital and innovative performance because its P-value equals 0.001 and it is less than 0.05, statistic hypothesis H0 is confirmed and H1 is rejected. In this study, there is an impact between human capital and structural capital, and there is also an impact between structural and innovative performance. In general, there is an impact between human resources and innovative performance. With respect to the impact between main and side hypotheses, we can conclude that the impact of the mediatory factor of structural capital between human capital and innovative performance is acceptable. Obtained results are consistent with findings of Ino et al. (2017). 6. DATA AND MATERIAL AVAILABILITY Information regarding this study is available by contacting the corresponding author. 7. REFERENCES Dastgir, Mohsen; Arab Salehi, Mahdi; Amin Jafari, Razieh; Akhlaghi, Hasanali. (2014). the effect of intellectual capital on company′s financial performance, financial and accounting researches, 6(21), 1-36. Falahi Maman, M.F. (2016). Investigating the effect of strategic procedures of human resources on innovative performance, management and entrepreneurship studies, second review, 3, 212-224. Hosseini, S.M.; Fard, D.H. (2012). The effect of organizational citizenship behavior on knowledge sharing: study of mediatory role of organizational culture; Iran management science periodical, 7(28), 109-130. Jafarpour, M. (2013). The role of gaining knowledge in innovation and flexibility in Gilan broadcast; Master thesis. Rasht Islamic Azad University. Hosseini, K.H. (1998). innovation in organizations: concept, types and processes, research and science magazine of economy and management. 42, 48. Kianto, A., Sáenz, J. & Aramburu, N. (2017). Knowledge-based HRM practices, intellectual capital and innovation, Journal of Business Research. 81 (Supplement C), 11-20. Kianto, A. Vanhala, M. Heilmann, P. (2018). The impact of knowledge management on job satisfaction, Journal of Knowledge Management. 20, 621-636. Khoo, M.M., Torabi, M.M., Loo, K.M. (2015). Investigating the effect of intellectual capital components on different aspects of financial function, state accounting, 1(2), 83-92. Zanjirani, M.D., Elahi, N.Z. (2014). Investigating the effect of intellectual capital on relative efficiency of production cooperatives, case study in Boushehr province, property and funding management, 2(4), 51-74. Navarro, A. Losada, F. Ruzo, E.Diez, J. (2010) Implications of perceived competitive advantages, adaptation of marketing tactics and export commitment on export performance, Journal of World Business, 45(1), 49–58. Navarro, J.G.C, Acosta, P.S., Wensley, A. K. P., (2015) Structured knowledge processes and firm performance: The role of organizational agility, Journal of Business Research. Norouzi, H., Kameli, A., Beigi, R., Mahzabi, M. (2015). investigating the effect of organizational atmosphere on staff organizational performance through social capital (case study: municipality staff of five districts in Rasht city); social capital management, 1, 137- 154. Ramezani, G., Soleymani, J. (2015). identifying indices of knowledge management and its implementation (case study: Koredestan university), knowledge based studies, 2(5), 1-24. Reychav, I., and J. Weisberg. 2010. Bridging intention and behavior of knowledge sharing. Journal of Knowledge Management. 14(2), 285-300.
  21. 21. *Corresponding author (Kaveh Teymournejad). Email: kav.teimoornejad@iauctb.ac.ir ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID: 11A05B http://TUENGR.COM/V11/11A05B.pdf DOI: 10.14456/ITJEMAST.2020.82 9 Rezaian, A., Karimi, A.H., Azar, A., Dehghanian, H. (2011). Designing a conceptual model of consistent performance in national media (National news channel): communicative researches. 65, 115-142. Sheykh-al-Eslami, M. (2012). the role of human resource management in forming competitive advantage, work and society periodical. 147. Sinaei, H., Haji pour, B., Taheri, K. (2011). investigating the relation between intellectual capital and company′s performance; transformation management research; review 3(5). Wikhamn, W. (2019). Innovation, sustainable HRM and customer satisfaction. International Journal of Hospitality Management. 76, 102-110. Seyed Ali Shahtaheri holds a-Master of Educational Human Resource, Central Tehran Branch, Islamic Azad University, Tehran Iran. He is interested in HRM Management. Ali.shahtaheri96 @ gmail.com. Dr.Kaveh Teymournejad is an Assistant Professor of Management Department, Central Tehran Branch, Islamic Azad University, Tehran Iran. He is interested in Public Administration, Comparative and Development Management, Human Resource Management, Change Management.
  22. 22. *Corresponding author (Mati Ullah). Email: educationistmrn@gmail.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05C http://TUENGR.COM/V11/11A05C.pdf DOI: 10.14456/ITJEMAST.2020.83 1 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies http://TuEngr.com PAPER ID: 11A05C COMPARISON OF PUBLIC, PRIVATE SCHOOLS, AND DEENI MADARIS SECONDARY STUDENTS REGARDING CONFIDENCE AS SOCIAL ADJUSTMENT IN THE SOCIETY Mati Ullaha 1* , Allah Noor Khan 1 1 Institute of Education & Research, Gomal University, Dera Ismail Khan, PAKISTAN. A R T I C L E I N F O A B S T R A C T Article history: Received 06 April 2019 Received in revised form 19 June 2019 Accepted 28 June 2019 Available online 19 December 2019 Keywords: Students’ confidence; Social adjustment; Public School; Academic success; Secondary education; Self-confidence. Adjustment is the interaction between a person and his environment. It is the ability to bring a desirable change in society. Similarly, confidence is the belief about yourself, your abilities and experiences. This is a cross-sectional study wherein all the public, private secondary schools and Deeni Madaris of the southern region of Khyber Pakhtunkhwa, Pakistan was the population of the study. The main purpose of the study was to compare public, private schools and Deeni Madaris students about confidence as a social adjustment in society, using questionnaires as a study tool. The respondents included principals, teachers, students, and parents were a sample of study by applying L.R.Gay Sample Size rule of thumb. The simple random, disproportionate, stratified and convenient sampling was used for a sample collection from respondents. Data were statistically analyzed through frequency and one way ANOVA which provides significant information for the stakeholders and policymakers. The study finds that students from all the institutions whether public, private and Deeni Madaris are confident about their social adjustment in society. Disciplinary: Education Sciences (Secondary Education), Psychology. ©2020 INT TRANS J ENG MANAG SCI TECH. 1. INTRODUCTION Confidence is the belief regarding yourself and your abilities for which wisdom, holistic intelligence with experience, enthusiasm and determination are highly mandatory to achieve desired objectives while living in society (Pepi et al., 2006). Confidence is the tool through which trust with the inner strength of someone is fully ensured and the purpose ought to achieve in the society becomes true (Kleitman & Stankov, 2007). Confidence is the key to unlock the potentials of person and confidence is a feeling of trust in one's qualities, judgment, and capabilities (Eccles & Wigfield, 2002). An individual may pass through different levels of confidence such as low confidence (to govern your behavior based on what other people think; optimal confidence (your belief about your doings to be right even others criticize you for that). In this type of confidence decisions are made ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies
  23. 23. 2 Mati Ullaha, Allah Noor Khan with absolute trust and clarity without any sort of others' approval); Overconfidence (Egotism and stubbornness or in simple words superiority complex) (Lane et al., 2004). The confidence power can be properly developed by adopting the sequence likewise the goal, setting, analysis, creation, action, and evaluation (Greenberg, 2008). When someone identifies the negative thoughts and turns it into positivity, then his confidence level is automatically enhanced and maintenance of positive support networking, complete elimination of negativity from mind, identification of own talent by taking pride in own self, gracefully acceptance of compliments with smiling in the society are all the key factors that enhance the confidence of someone (Bridgeman & Shipman, 1978). Those people who are highly confident are happier, men of strength and capabilities, free of self-doubt, fear, stress, social anxiety and depression (Covassin & Pero, 2004). Confident students act with full vigor and motivation; they enjoy interacting with others and they are successful members of society (Farooq et al., 2011). Confidence is the knowledge someone may do something well by applying skills that are quite essential in almost all aspects of life (Sander & Sanders, 2002). Confident Parents, their children to feel good and satisfactory about yourselves and analyze yourself by focusing more on where you behind are, so that your confidence power may be polished and developed (Aggarwal & Mishra, 2005). Confident students mostly show better academic grades because they believe themselves (Sandra & Ruppert, 2006). They are theoretically and practically genius from all aspects of life and they show better performance in every field where they indulge or where they get in (Al-Hebaish, 2012). 2. LITERATURE REVIEW It is highly mandatory for parents to train and nourish children to have full belief on own abilities, talents, and experiences to enhance own confidential power. The students can ensure their beliefs on themselves in two ways like understanding themselves and overestimating themselves, and a realistic assessment of their abilities is the key to acquire confidence (Ochoa & Sander, 2012). Confident students never make wrong decisions and they are honest and positive thinkers of the society; their feelings, self-esteem, skills, abilities, and experiences are developed (Ziegler & Heller, 2000; Martins et al., 2002). Confident students communicate with others quite effectively, they always speak concisely and with clarity (Purwar, 2002; Koç & Polat, 2006). Confident students always prefer to live with smile and satisfaction in society; they always monitor their progress; they do the right things; they are long term planner; they always follow their abilities, skills, and beliefs; they always do what they are afraid to do (Martin, 2004). They commit themselves to their success; their focus is always on the basics; they first set their goals and then confidently achieve it; unhappy, melancholic and confused the students always show poor academic grades due to the stress and lack of the confidence and lack of confidence negatively influences the social relations, career, achievements, and moods of students (Van-Laar, 2000). The confidence comes from practice and knowledge; a student with more knowledge and practice becomes more confident due to which he/she can easily face new challenges in society due to which they successfully avail different opportunities (Crocker & Luhtanen, 2003). Confidence is the combination of ability, strong feelings of self-esteem as well as self-belief, personal judgment, and power; confident students always feel competency from their inside and outside and they always use their talent and experiences for the achievement of their goal with patience which helps them in
  24. 24. *Corresponding author (Mati Ullah). Email: educationistmrn@gmail.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05C http://TUENGR.COM/V11/11A05C.pdf DOI: 10.14456/ITJEMAST.2020.83 3 increasing their confidence on themselves (Ross & Broh, 2000). Confident students utilize their energies and determinations in the best way resulting in better and quality work; confident students have positive controlled behaviors and emotions; they always motivate others to do the right things boldly without any fear; they are highly mature and professional minded due to which they show better performance in the society as well as in academics (Legum & Hoare, 2004). Confident students always accept themselves as they are and they start their day with a smile; they believe in trial and error; they always think positively. They are not anxious, they are highly optimistic; they maintain their self-esteem and their personalities are quite social in society (Freih & Owayed,2005). Confident students spend most of the time with confident people and the majority of students are better sportsmen as they follow a competitive approach in life (Levy et al., 2010). Confidence does not come when you have all answers but it comes when you are ready to face all questions but show better performance in academics because of talent and confidence to do and show performances (Huang et al., 2001). This study examines and compares the confidence of public, private & Madaris secondary students as the social adjustment. 3. RESEARCH METHODOLOGY This study applied a statistical tool to analyze and compare students’ confidence as obtained from questionnaire respondents. All principals, teachers, students, and parents of public, private secondary schools and Deeni Madaris of Southern divisions (Kohat, Bannu, and D.I.Khan) consisting six districts (Kohat, Karak, Bannu, Lakki Marwat, D.I.Khan, and Tank) Khyber Pakhtunkhwa, Pakistan were the studied populations, see Table 1. This study collects the primary data from the total 1500 respondents were taken as samples as per L.R.Gay sample size rule of thumb. Districts were selected through the judgmental sampling technique from each category as in Table 1. Table 1: Target population and sample of this study. Study statistics Public Schools Private Schools Deeni Madaris Principals Teachers Students Parents Principals Teachers Students Parents Principals Teachers Students Parents Population 322 5511 77227 65935 232 4428 43909 34215 752 2702 89794 80930 Total 148995 82784 174178 Sample 20 90 300 90 20 90 300 90 20 90 300 90 Total 500 500 500 The questionnaire is a six-point Likert scale having options Strongly Agree, Agree, Slightly Agree, Slightly Disagree, Disagree and Strongly Disagree carrying values 6, 5, 4, 3, 2 and 1 respectively. 4. RESULT The split-half reliability was used to analyze and assess the internal consistency of the research instrument thereby using Cronbach’s alpha to determine the internal consistency among the different measures of the study. The Cronbach’s alpha result is reliable and acceptable, see Table 2.
  25. 25. 4 Mati Ullaha, Allah Noor Khan Table 2: Reliability statistic. Cronbach’s alpha N of Items 0.886 16 The data were statistically analyzed through frequency and one-way ANOVA by using SPSS. The frequency table provides the variation in responses of the respondents about the confidence as the social adjustment of the students in the societies from different dimensions like the public schools, private schools, and Deeni Madaris. Table 3: Confidence in Students (Frequency). Statement Respondents Responses of Respondents SubTotal Total Institutions/ Schools StronglyAgree Agree SlightlyAgree SlightlyDisagree Disagree Strongly disagreed OurStudentsareConfident. Principals Public School 2 8 3 4 2 1 20 60Private School 3 6 2 4 2 3 20 Deeni Madaris 4 7 2 1 3 3 20 Teachers Public School 10 36 15 13 9 7 90 270Private School 16 31 12 16 8 7 90 Deeni Madaris 8 18 14 15 20 15 90 Parents Public School 23 35 16 9 5 2 90 270Private School 18 40 14 9 7 2 90 Deeni Madaris 20 29 19 10 8 4 90 Students Public School 47 156 35 36 16 10 300 900Private School 35 175 40 31 11 8 300 Deeni Madaris 39 121 34 38 29 39 300 Total 225 662 206 186 120 101 1500 1500 Table 3, the overall, 887 respondents provide agree and strongly agree on responses, while 221 gives disagree and strongly disagree responses about the statement regarding “confidence in students”. Table 2 is self-explanatory and a decision can be made in a variation of the responses wherein the majority of the respondents have shown their agreement with the statement that their students are confident and able to adjust socially in the society. Table 4: Confidence in Students (ANOVA). Variables Sum of Squares df Mean Square F Sig. Principals Between Groups 33.652 5 6.730 11.464 <0.001 Within Groups 877.092 1494 .587 Total 910.744 1499 Teachers Between Groups 8.455 5 1.691 3.076 0.009 Within Groups 821.195 1494 .550 Total 829.650 1499 Parents Between Groups 93.587 5 18.717 42.424 <0.001 Within Groups 659.157 1494 .441 Total 752.744 1499 Students Between Groups 67.790 5 13.558 24.787 0.027 Within Groups 817.194 1494 .547 Total 884.983 1499 Table 4 reveals that the mean value of parents is maximum i.e. 18.717 with the significant value (.000) and after that the mean value of students i.e., 13.558 with the significant value (.027), then principals 6.730 with the significant value (<0.001) and at last teachers i.e. 1.691 with
  26. 26. *Corresponding author (Mati Ullah). Email: educationistmrn@gmail.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05C http://TUENGR.COM/V11/11A05C.pdf DOI: 10.14456/ITJEMAST.2020.83 5 significant value (0.009). So it is clear from the findings that the perceptions of parents regarding their children studied in public, private schools and Deeni Madaris having significant influence in the society. Overall results elaborate that the p-value is less than 0.05 for all four groups under study which means that there is a significant group mean the difference in responses of the respondents about the statement related to the social adjustment of the students in society. So it is interpreted that these results are generalizable. 5. CONCLUSION This study highlighted and further explored the significant issue of the students' confidence from different perspectives like the principals, teachers, parents, and students hailing from the public, private and Deeni Madaris. The application of the frequency tabulation and ANOVA provide significant information in deciding and reaching the conclusion. Likewise, the majority of the respondents have shown their agreement that the students from all the institutions whether public, private and Deeni Madaris are confident about their social adjustment in the society which is also validated over the group mean differences by using the application of variance. This confirmed that there is a significant group means different concerning the confidence of the students which further helps them to adjust socially in society. The main reason behind this is the motivation and inspiration of the principals, teachers and parents towards the students in nurturing their confidence and to adjust to the society to become a social individual in the community. These motivation and encouragement inspire the students to focused upon their main objectives of achieving their academic and social status in the institution as well as in society. 6. DATA AND MATERIAL AVAILABILITY Information regarding this study is available by contacting the corresponding author. 6. REFERENCES Aggarwal, A., & Mishra, A.K. (2005). Impact of Parent Child Relationship on Self-Confidence. Indian Journal Psycho-Education, 36, 146-152. Al-Hebaish, S. M. (2012). Correlation between General Self-Confidence and Academic Achievement in the Oral Presentation Course. Theory and Practice in Language Studies, 2(1), 60-65. Alves-Martins, M., Peixoto, F., Gouveia-Pereira, M., Amaral, V., & Pedro, I. (2002). Self-Esteem and Academic Achievement among Adolescents. Educational Psychology, 22(1), 51-62. Bridgeman, B., & Shipman, V.C. (1978). Preschool Measures of Self-Esteem and Achievement Motivation as Predictors of Third-Grade Achievement. Journal of Educational Psychology, 70(1), 17-28. Covassin, T., Pero, S. (2004). Relationship between Self-Confidence, Mood State, and Anxiety among Collegiate Tennis Players. Journal of Sport Behavior, 27(3), 230- 242. Crocker, J., & Luhtanen, R.K. (2003). Level of Self-Esteem and Contingencies of Self-Worth: Unique Effects on Academic Social, And Financial Problems in College Students. Personality and Social Psychology Bulletin, 29(6), 701-712. Eccles, J. S. & Wigfield, A. (2002). Self-Concept, Domain Values, and Self-Esteem: Relations and Changes at Early Adolescence. Journal of Personality, 57 (2), 283-310. Farooq, M. S., Chaudhary, H. A., Shafiq, M. & Berhanu, G. (2011). Factors Effecting Students Quality of Academic Performance: A Case of Secondary School Level. Journal of Quality and Technology Management, 2 (7), 1-14.
  27. 27. 6 Mati Ullaha, Allah Noor Khan Freih, Owayed, E. (2005). Academic Achievement and Its Relationship with Anxiety, Self-Esteem, Optimism, and Pessimism in Kuwaiti Students. Social Behavior and Personality, 33(1), 95-103. Greenberg J (2008). Understanding the Vital Human Quest for Self-Esteem. Perspectives on Psychological Science, 3, 48-55. Huang, Penelope, M., Brainard., & Suzanne, G. (2001). Identifying Determinants of Academic Self- Confidence among Science, Math, Engineering, and Technology Students. Journal of Women and Minorities in Science and Engineering, 7(4), 315-37. Kleitman, S., & Stankov, L. (2007). Self-Confidence and Metacognitive Processes. Learning and Individual Differences, 17, 161-173. Koç, M., & Polat, Ü. (2006). Üniversite ö÷rencilerinin ruh sa÷lÕ÷Õ. ønsan Bilimleri Dergisi, 3(2), 1- 22. Lane, J., Lane, A.M, Kyprianu, A. (2004). Self-Efficacy, Self-Esteem and Their Impact on Academic Performance. Social Behavior & Personality, 32(3), 247-256. Legum, H.L., & Hoare, C.H. (2004). Impact of a Career Intervention on At-Risk Middle School Students’ Career Maturity Levels, Academic Achievement, and Self-Esteem. Professional School Counseling, 8(2), 148-155. Levy, A. R., Nicholls, A. R., Polman, C. J. (2010). Pre-Competitive Confidence, Coping, and Subjective Performance in Sport. Scandinavian Journal of Medicine and Science in Sport, 21, 721-729. Martin, G.N. (2004). Estimates of Emotional and Psychometric Intelligence: Evidence for Gender- Based Stereotypes. Sri Nagar Journal of Social Psychology, 144 (2), 149-162. Ochoa, A. R. A, & Sander, P. (2012). Contrasting Academic Behavioral Confidence in Mexican and European Psychology Students. Journal of Research in Educational Psychology, 10(2), 813-838. Pepi, A., Faria, L., & Alesi, M. (2006). Personal Conceptions of Intelligence, Self-Esteem, and school Achievement in Italian and Portuguese Students. Adolescence, 41(164), 615-631. Purwar, M. (2002). Self-Confidence, Intelligence, and Level of Aspiration among Urban and Rural Scheduled Cast Boys and Girls. Journal of Psycho-Cultural Dimensions, 18(2), 111-114. Ross, C.E. & Broh, B.A. (2000). The Roles of Self-Esteem and the Sense of Personal Control in the Academic Achievement Process. Sociology of Education, 73(4), 270-284. Sander, P. & Sanders, L. (2002). Understanding Academic Confidence. The British Psychological Society, 1(12), 29-4. Sandra, S., & Ruppert, C. (2006). Factor Affecting Students’ Quality of Academic Performance: Journal of Quality and Technology Management, 24 (2), 1-4. Van-Laar, C. (2000). The Paradox of Low Academic Achievement but High Self-Esteem in African American Students: An Attribution Account. Educational Psychology Review, 12(1), 33- 61 Ziegler, A., & Heller, K. A. (2000). Conditions for Self-Confidence among Boys and Girls Achieving Highly in Chemistry. Journal of Secondary Gifted Education, 11(3), 144-51. Mati Ullah is a PhD Scholar at Institute of Education & Research, Gomal University, Dera Ismail Khan, Khyber Pakhtunkhwa, Pakistan. He is interested in Teaching and Learning. Dr. Allah Noor Khan is an Assistant Professor at the Institute of Education & Research, Gomal University, Dera Ismail Khan, Khyber Pakhtunkhwa, Pakistan. He got his PhD Degree from Institute of Education & Research, Gomal University. His research is Email: noormarwat2@yahoo.com
  28. 28. *Corresponding author (Masood Akhtar). Email: soodi4u@live.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05D http://TUENGR.COM/V11/11A05D.pdf DOI: 10.14456/ITJEMAST.2020.84 1 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies http://TuEngr.com PAPER ID: 11A05D IMPACTS OF QWL (PROMOTION & WORK ENVIRONMENT) ON DOCTORS’ PERFORMANCE IN PUBLIC SECTOR HOSPITALS OF PAKISTAN Masood Akhtar 1 , Qamar Afaq Qureshi 1 1 Department of Public Administration, Gomal University, D.I. Khan, PAKISTAN. A R T I C L E I N F O A B S T R A C T Article history: Received 22 July 2019 Received in revised form 29 November 2019 Accepted 12 December 2019 Available online 23 December 2019 Keywords: Quality of Work Life (QWL); Individual Work Performance; Doctors’ work performance; Hospitals’ performance. This study investigated the relationship between promotion, work environment and performance. The survey approach was used. Cross- sectional data were collected and used in the analysis. The descriptive and inferential statistics such as mean, standard deviation, correlation, regression, exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and Cronbach’s alpha were used. SPSS®25 and AMOS-SEM18 were used for statistical analysis. The findings revealed that all the scales were reliable, valid and all the variables are significantly and positively related to each other. It is concluded that promotion is the most significant and dominant variable in the model for improving the performance of employees. This research is helpful in bringing valuable information to the government of Pakistan by considering this concept/variable as a tool for enhancing the doctors’ performance in the above-mentioned context. Disciplinary: Management Sciences, Healthcare Management. ©2020 INT TRANS J ENG MANAG SCI TECH. 1 INTRODUCTION For modern organizations to be successful, they need to be more flexible so that they are equipped to develop their workers and enjoy their commitment. A workforce that is well equipped and highly committed is more likely to be very effective which is very important for every organization. The Quality Work Life (QWL) is related to organizational conditions and practices that aim at promoting the employee’s mental and physical health, safety and satisfaction (Almalki et al., 2012). A high QWL is essential for organizations to continue to attract and retain high performing employees. The importance of healthcare institutions in any country, particularly developing countries like Pakistan cannot be overestimated. The health care system exerts a direct influence on productive capacities of country. Sustainable development in healthcare sector is not possible without the contribution of high performing doctors who serve hospitals (Hsu & Kernohan, 2006). ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies
  29. 29. 2 Masood Akhtar, Qamar Afaq Qureshi It is, therefore, necessary to conduct studies that are intended to inform and assist decision- makers in hospitals in identifying the key workplace issues that would help in developing the strategies to address and improve the performance of doctors in public sector hospitals. Researchers observed that a high quality of work life (QWL) is essential for organizations to achieve high performance (Azril et al., 2010; Deb, 2006). The way doctors who work in hospitals perceive their work environment influences their level of performance. Although improving the QWL is important to the well-being and development of employees, it has not attracted adequate attention in developing like Pakistan. This study presents addressed these concepts by providing new and valuable information thereby conducting the field study on the quality of the work life and individual (doctors) work performance of the hospitals in Pakistani (Khyber Pakhtunkhwa) context by generalizing the findings. 2 LITERATURE REVIEW 2.1 QWL Generally, QWL has been defined as opinions and impressions regarding employees' organizations working conditions. The majority of the literature on the nature of QWL of work life shows that the concept is latent, multidimensional in nature, and need-based. Sirgy et al. (2001) conceptualize QWL as need-based categorizing QWL into higher-order needs and the lower order needs (Schaubrock & Ganster, 1991). Lower order needs are comprised of the health/safety needs, and economic /family needs (Tabachnick & Fidell, 2002). The higher-order needs are comprised of the social needs, esteem needs and self-actualization needs, knowledge needs, and aesthetic needs. 2.1.1 PROMOTION Some employees like equality at the work, some like benefits provided by their job, or others satisfied with the degree to which they have the power to take the initiatives at their workplace during the job. In this research, we will study the effect or influence of promotion upon doctors’ work Performance. Promotion is worker recognition efforts and his commitment to work (Borman & Motowidlo, 1993). Getting higher and higher promotion is the ultimate desire of each person working in any sort of organization. Promotion is a Shifting of an employee for a job of higher significance and higher compensation. The movement of an employee upward in the hierarchy of the organization, typically that leads to enhancement of responsibility and the rank and an improved compensation package is a promotion (Koopmans et al., 2011). 2.1.2 WORK ENVIRONMENT QWL is a process by which the organizations’ personnel and stakeholders learn how to work better together to simultaneously improve staff quality of life and individual work performance and thus improving organizational productivity. An attractive and supportive work environment is critical to the employees’ task performance (Almalki et al., 2012). The work environment can be grouped into three distinct forms. These are the physical work environment (an environment that deals with the physical or tangibles at the setting where the job is performed), psychological work environment (a set of characteristics of work environment that affect how the worker feels (Hamid, 2012). The psychological work environment provides a good description of the mental activities that a worker undertakes during working hours or at the post) and social work environment (deals
  30. 30. *Corresponding author (Masood Akhtar). Email: soodi4u@live.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05D http://TUENGR.COM/V11/11A05D.pdf DOI: 10.14456/ITJEMAST.2020.84 3 with relations at job settings. It includes communication styles, the relationship between superiors and subordinates. It includes the relationship among coworkers, the readiness of others to assist and teamwork (Awan, 2014). 2.2 INDIVIDUAL WORK PERFORMANCE Individual work performance is an issue that has not only grasped companies all over the world but also fueled a great deal of research in fields of management, occupational health, and work and organizational psychology. Numerous studies on individual work performance have been conducted (Viswesvaran & Ones, 2000). Still, diverse approaches to studying individual work performance circulate in recent literature. Whereas the field of management has primarily occupied itself with how one can make an employee as productive as possible, the field of occupational health has focused on how to prevent productivity loss due to a certain disease or health impairment (Vandewalle, 1995). Work and organizational psychologists, on the other hand, have an interest in the influence of determinants like work engagement, satisfaction, and personality, on individual work performance. 2.3 QWL AND INDIVIDUAL WORK PERFORMANCE The conclusion that can be drawn from the literature on the link between the EWL and the work performance is that QWL has a positive association with work performance. Rossmiller (1992) found that QWL positively influenced the respect accorded to teachers, teacher participation in decisions affecting work, professional collaboration and interaction, use of skills and knowledge and the teaching-learning environment. Madlock (2008) argued that interpersonal communication (respecting others, working together, believing others and sharing information) does have a positive impact on the employees'satisfaction and work performance. A study by Azril et al. (2010) also found that nine aspects of work life studied have significant and positive relationships with work performance where the highest relationship occurred between individual and family life with work performance. It is thus hypothesized that H1: Doctors Perceived (QWL) is positively related to their work performance. 3 RESEARCH METHOD Researcher collected the data by using the survey as it is a most feasible, common and easy way to collect large amounts of data from big populations in less time and cost. All the district public sector hospitals from Khyber Pakhtunkhwa were included in the population. In hospitals, only doctors were the target population. A nonprobability convenience sampling technique was used for sampling. All the instruments were adopted from previous research and then modified some items, statements to ensure clarity of items for the respondents. Now, instruments are adapted. At initial stage, pilot testing was conducted to ensure reliability and validity of the scales. Initially, 30 respondents were contacted after getting ethical permission from the management of hospitals. Questionnaires along with a cover letter explaining the aim of the study were distributed in respondents. In addition, respondents were ensured that their names and data would be kept confidential. The researcher distributed 300 questionnaires out of 300, 235 were received back in which 11 were incomplete so those questionnaires were discarded from analysis and 224 were used in analysis yielding a response rate of 74.6%.
  31. 31. 4 Masood Akhtar, Qamar Afaq Qureshi 4 ANALYSIS RESULT Co-linearity happens when all the independent variables are highly correlated with each other. This effects beta values and researcher inferences about sample and population got affected. So first researchers have checked multicollinearity, this can be checked by the VIF variance inflation factor and it should be less than 10 and Tolerance T value it should be higher than 0.10. All the values of VIF and T were in the specified range. When data is collected by using the same survey, same scale and same time its validity is questionable. For this purpose, the researchers suggested to checked common method bias (CMB) by using Harman Single-factor analysis. It was run and found that the first factor was explaining variance less than 50% it means that CMB is not a major issue in this study. From the analysis, results revealed that there are 224 respondents participated in the study. From the analysis, it is revealed that there were 164 (73.2%), male respondents, while 60 (26.8%) were females participated in this study. Further analysis of results also revealed that majority of the respondents belongs to age group of 20-30 years i.e. 84 (37.5%) followed by age group of 51-60 years i.e. 77 (34.4%), likewise 49 respondents belong to the age group of 31-40 years i.e. (21.9%) and minimum number of respondents belongs to age group of 41-50 years (6.3%). Similarly, the majority of respondents were holding MPhil degrees i.e. 161 (71.9%) followed by 42 (18.8%) were holding master degrees and only 21 doctors were having doctoral degrees (9.4%). In the analysis, it was identified that the majority of the respondents were assistant professors i.e. 72 (32.1%) while followed by associate professors 59 (26.3%) and lecturers were 45 (20.1%) number of professors were identified as 48 (21.4%). 152 (67.9%) respondents had the experience of 1-10 years, followed by the respondents having experience of 20 years i.e. 52 (23.2%) and only 20 respondents were having experience of 20-30 years i.e. 8.9%. there were 131 local respondents and 93 nonlocal respondents. Same data for married and single respondents, see Table 1 and Figure 1. Table 1: Demographic Information S# Variables Characteristics N Percentage 1 Gender Male 164 73.2 Female 60 26.8 2 Age 20-30 84 37.5 31-40 49 21.9 41-50 14 6.3 51-60 77 34.4 3 Education Master 42 18.8 MPhil 161 71.9 PhD 21 9.4 4 Designation Lecturer 45 20.1 Assistant Professor 72 32.1 Associate Professor 59 26.3 Professor 48 21.4 5 Experience 1-10 152 67.9 1-20 52 23.2 21-30 20 8.9 6 Domicile Local 131 58.5 Non Local 93 41.4 7 Marital Status Married 131 58.5 Single 93 41.4
  32. 32. *Corresponding author (Masood Akhtar). Email: soodi4u@live.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05D http://TUENGR.COM/V11/11A05D.pdf DOI: 10.14456/ITJEMAST.2020.84 5 Table 2: Reliability and Validity N Variables Items Mean SD ITC Alpha KMO Variance EFA AVE CR 1 Promotion Item 1 3.22 1.47 0.713 0.775 0.733 54.0% 0.882 0.540 0.850 Item 2 3.36 1.16 0.657 0.831 Item 3 3.08 1.08 0.610 0.782 Item 4 3.51 1.17 0.448 0.605 Item 5 3.28 1.24 0.354 0.505 2 Work Environment Item 1 3.53 1.15 0.628 0.760 0.782 74.5% 0.847 0.720 0.928 Item 2 3.67 1.11 0.664 0.824 Item 3 3.50 1.05 0.650 0.820 Item 4 3.48 0.97 0.621 0.783 Item 5 3.27 1.02 0.134 0.959 3 Performance Item 1 3.54 1.11 0.362 0.736 0.720 58.3% 0.439 0.363 0.844 Item 2 3.51 1.16 0.214 0.654 Item 3 3.36 1.18 0.193 0.458 Item 4 3.47 1.05 0.335 0.430 Item 5 3.55 1.09 0.343 0.458 Item 6 3.22 1.47 0.577 0.802 Item 7 3.36 1.16 0.553 0.759 Item 8 3.08 1.08 0.522 0.718 Item 9 3.51 1.17 0.508 0.630 Item 10 3.51 1.10 0.366 0.525 It was necessary to report reliable and valid instruments. For this purpose mean and standard deviation criteria was set. Those items having S.D<0.3 were decided to exclude from the analysis. Table-2 shows item summaries of promotion variable it is noted that highest mean is recorded for item4 i.e. Mp4= 3.51, SDp4= 1.17, followed by item 2 Mp2= 3.36, SDp2= 1.16, while lowest mean score was identified for item 3, Mp3= 3.08, SDp3= 1.08. The same criteria were set for the work environment. Highest mean was identified for item 2 Mwe2= 3.67, SDwe2= 1.11, followed by item1 Mwe1=3.53, SDwe1= 1.15, lowest means core for work environment was recorded for item 5 Mwe5=3.27, SDwe5= 1.02. For individual performance variables same criteria were set. Highest mean for item 5 MPer5=3.55, SDper5=1.09, while lowest mean was recorded for item 8, MPer8= 3.08, SDper8= 1.08, from the above analysis it was concluded that all items for promotion, work environment and performance met set criteria. All items were retained for further analysis. Further reliability analysis was run to check inter item correlations through Item Total Correlation (ITC) and Cronbach’s alpha. Cronbach’s alpha is accepted at 0.7, while 0.8 is considered good and 0.9 is considered as excellent. While for ITC criteria is 0.3-0.4 as per the existing literature. For promotion, all items have ITC values higher than 0.3 and the overall alpha value is 0.775, for work environment all items met criteria except for item 5 but it was not excluded as overall alpha is higher than 0.7 i.e. 0.760. for performance two items, items 2 and 3 have ITC less than 0.3 so these variables can be excluded to increase alpha value but still alpha for performance is 0.736 still acceptable. Instruments and scales for Quality of work life (promotion & work environment) and performance are found reliable. Kaiser Mayer Olkin (KMO) is used to check the sampling adequacy. It was found KMO = 0.733 for promotion, KMO= 0.782 for the work environment, and for performance KMO= 0.720. It is recommended that KMO values should be greater than 0.50, in this study KMO for all variables is higher than 0.5, oblique rotation and the Promax method was sued for rotation and criteria for factor loadings were set at 0.40. it is noted that Table-2 all the factor loadings for all items of promotion and work environment and performance are higher than 0.4. Average variance extracted (AVE) for promotion is =0.540, and Construct Reliability (CR)
  33. 33. 6 Masood Akhtar, Qamar Afaq Qureshi =0.850. for work environment AVE=0.720 and CR=0.928, for performance=0.363, CR=0.844 though AVE for performance is less than 0.40 but CR is higher than 0.7 so ITC is acceptable no issue of validity. All the items and variables and their scales are found reliable and valid (Hillsdale et al., 1993). Figure 1: Measurement Model Confirmatory Factor Analysis (P: Promotion; WE: Work Environment; PERF/PR: Performance). AMOS-SEM 18 was used for confirmatory factor analysis (CFA). Criteria for factor loadings for set at 0,50. But criteria for other goodness of fit such as goodness of fit index (GFI), Bollen's Incremental Fit Index (IFI), Comparative fit index (CFI), Tucker-Lewis Index (TLI), Normed Fit Index (NFI); Relative Fit Index (RFI), are set >0.90, and for Root Mean Square Error of Approximation (RMSEA) <0.08 for chi-square less than 3. Figure 3 shows that all the items of promotion, work environment, and performance have factor loadings greater than 0.5 but two items were deleted from promotion because of low factor loadings, one item was excluded from work environment and eight items were deleted from the performance. RMSEA= 0.06 <0.08, GFI=0.955>0.90, IFI=0.970>0.090, CFI=0.970>0.90, TLI=0.953, NFI=0.944, RFI=0.912 all are greater than 0.90. Chi-square/df =2.072. Therefore, the above model is found fit for the present research and context in highlighting the issue and measure. These indicate the model fitness in the entire procedure. 4.1 CORRELATION ANALYSIS As this data was normally distributed, so Pearson correlation as used. Correlation 0.1 to 0.4 is considered weak, 0.5-0.6 is the moderate and 0.7 and 0.9 is considered high. Pearson correlation is used to check the relationship amid promotion, work environment and performance. Table 3: Pearson Correlation Matrix. Promotion Work Environment Performance Promotion 1 Work Environment .664** 1 Performance .858** .625** 1 **. Correlation is significant at the 0.01 level (2-tailed). It was found that the relationship between promotion and work environment is r = 0.664, p<0.01, it means that flexible promotion policies increase the environment at the workplace and there is a friendly and supportive environment developed by doctors and colleagues in the hospitals. While the relationship between promotion and performance is r = 0.858, p<0.01 it means that when
  34. 34. *Corresponding author (Masood Akhtar). Email: soodi4u@live.com ©2020 International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies. Volume 11 No.5 ISSN 2228-9860 eISSN 1906-9642 CODEN: ITJEA8 Paper ID:11A05D http://TUENGR.COM/V11/11A05D.pdf DOI: 10.14456/ITJEMAST.2020.84 7 doctors got flexible promotion opportunities then their performance will increase. Similarly, the relationship between work environment and performance is r = 0.625, p<0.01. it means that when there is a friendly work environment, the performance of doctors will be enhanced and they become productive members of the organizations. 4.2 REGRESSION ANALYSIS There are three types of regression, multiple regressions, stepwise and hierarchical multiple regressions. In this study, multiple regressions are used. Before regressions analysis data must fulfill certain assumptions, including a minimum observation number 15-20; data must be normally distributed; there must be no multicollinearity and no heteroscedasticity problems. Table 4: Regression Analysis D.V I.V R R2 Adj R2 F β t p Collinearity T VIF Performance Constant 0.861 0.742 0.739 317.350 12.33 <0.001 Promotion 0.793 17.341 <0.001 0.559 1.79 WE 0.098 2.140 0.003 0.55 1.79 Figure 2: Heteroscadasticity. Our data fulfills all assumptions so the researcher may proceed for regressions analysis. In this study promotion and work environment are predictors and performance is the criterion. Table-4 shows regression analysis results. It was found that promotion and work environment shows variance upon performance i.e. R2 =0.742, which means 74.2% variance is explained by promotion and work environment. The goodness of fit index or model fitness is checked by F Statistics F = 317.350, p<0.01. Further analysis of results revealed that for performance, promotion shows βp= 0.793, p<0.01, it means that one unit change in promotion policies could bring a 79.3% change in performance of employees this means that performance could be enhanced by offering flexible promotion policies and opportunities in the healthcare organizations. For performance work environment shows βwe= 0.098, p<0.05. This means that a 9.8% variance is explained by the work environment upon the performance of employees. t statistics are also found significant and it is also identified that there is no issue of colinearity in Table-4. As T statistics are higher than 0.1 and VIF values are less than 10. There is no issue of heteroscedasticity in Figure 3. 5 DISCUSSION Aim of this study is to find the relationship between promotion, work environment and performance. For this purpose data was collected from healthcare organizations’ professionals

×