https://www.um.edu.mt/library/oar/handle/123456789/42925 Sat, 04 Apr 2026 16:33:45 GMT 2026-04-04T16:33:45Z https://www.um.edu.mt/library/oar/handle/123456789/43126 Title: Value formation of innovative product : a way to commercialization Authors: Popova, Lyudmila V.; Maslova, Irina A.; Korostelkina, Irina A.; Dedkova, Elena G.; Maslov, Boris G.; Lozhkina, Svetlana L. Abstract: Purpose: The issues of studying the value formation process of an innovative product, from the idea to the prototype to the commercialization of the output from the production line, depending on the type of innovations, are the aims of this article. Design/Methodology/Approach: The conceptual framework of "value" and "innovations" is explored and the theoretical basis of the value approach is revealed at the beginning of the article. The definition of an innovative product is given and the development process and the mechanism of its value formation at each development phase are revealed. Findings: The value-added elements are specified, from the idea generation to the commercialization of the innovative product. The expenses for the calculation items and the development phases of the innovative product are estimated. Practical Implications: Categories of the innovation-based economy development, as "innovation", "innovative product", and "value" are not sufficiently studied. Intensive discussions are taking place in the scientific community regarding what an innovative product is and how its value is formed. A specific result of intellectual activity, at the initial stage of its formation represents an idea that is difficult to be estimated. Originality/Value: The problematics for further research of value formation of innovative products depending on their specific nature is put. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/43126 2019-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/43079 Title: The efficiency based costing method – using a sawmill as example Authors: Bariska, Mihaly; Pasztory, Zoltan; Koloszar, Laszlo Abstract: Purpose: Generally in a factory it is not straight forward to discern the true, individual manufacturing costs. Thus, the necessity arouse for a calculation method that would collect and include relevant technical details along the way of each product. Design/Methodology/Approach: The data received could then get associated with the pertinent book-keeping records. An equation has been developed which combines the technical details of the production process with the relevant accounting data. The method is called Efficiency Based Costing (EBC). Findings: The EBC method, which incorporated essential processing details - such as product recovery, production rate, volume flow velocity through the production line, man-hour input, the physical size of the products, and, of course, overheads – delivered significantly differing manufacturing costs per unit volume for the individual products. Also, the exact value of wastes has been determined. Practical Implications: The efficiency based cost calculation (EBC) is a powerful tool in searching for the true individual processing costs. With the suggested equation it is possible to combine important technical details of the production process with the accounting data. Originality/Value: Using the EBC method, the minimum product selling price at any point of the production process can be computed. Product portfolio decisions and next year´s planning shall rely on more truthful data. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/43079 2019-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/43077 Title: The dark side of paternalistic leadership : employee discrimination and nepotism Authors: Erden, Pinar; Otken, Ayse Begum Abstract: Purpose: Paternalistic leadership is a prevailing leadership style in environments characterized by high power distance, collectivism, and uncertainty avoidance and is a general aspect of family businesses. With this in mind, the purpose of this study is to investigate paternalistic leadership in Turkish business environment and test the relationship between paternalistic leadership and employee discrimination and nepotism. Design/Methodology/Approach: Data were collected by a questionnaire from 183 employees working in family owned companies located in Turkey. Convenience sampling was used. Findings: Findings indicate that benevolent and moral paternalistic leadership is negatively related to perceived discrimination in human resources practices like recruitment, hiring, promotion, assignments, delegation, evaluation, payment, rewards, training and working conditions. Finding of the study shows that when the leader behaves in an authoritarian way, employees specifically perceive nepotism in the hiring process. Practical Implications: This study sheds light on leadership literature by focusing on a leadership style that is viewed negatively in Western societies, but is found to be a socio-cultural characteristic of India, Pakistan, China and Turkey. It provides an important insight about Turkish culture and a prevailing leadership style which is paternalistic leadership. Originality/Value: The study is a unique one that combines paternalistic leadership, discrimination and nepotism in a research model. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/43077 2019-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/43076 Title: Spillover effect of Islamic stock markets in Asia Authors: Silvia, Ani; Zulpahmi; Sumardi Abstract: Purpose: The aim of this study is to investigate correlation and the spillover effect between the Islamic stock index in Indonesia and other Asian emerging markets including Malaysia, Thailand, India, China and Taiwan. Design/Methodology/Approach: The time series data used is from daily returns from May 13, 2011 to October 17, 2017 with 1395 observations. Using Pearson Correlation, the multivariate VAR model and the Granger Causality test, the study found low correlation across markets. Findings: The fluctuation of the Indonesian Islamic stock index is substantially dominated by local information and creates a spillover effect in all markets in Asia. It also reveals a bidirectional relationship between the Indonesian market and the Thailand, Indian and Taiwanese markets, but only a unidirectional relationship between Indonesian market and Malaysian and Chinese markets. Practical Implications: The research is able to examine the integration of conventional stock markets between Indonesian and Asian markets quite well to investigate the spillover effect in the region. Originality/Value: The Indonesian market creates an essentially dominant spillover effect on all Asian market investigated. Using Islamic stock market, this study complements studies conducted by other researchers. Tue, 01 Jan 2019 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/43076 2019-01-01T00:00:00Z