IOSR Journal of Business and Management (IOSR-JBM)

Volume 9 - Issue 4

Paper Type : Research Paper
Title : Analysis on Female Workers Productivity among Buginese, Makassarese, and Torajanese Ethnic Groups In Small Industry Sector In Makassar City, South Sulawesi (Study In Food And Beverage Industry)
Country : Indonesia
Authors : Aryati Arfah, M. Pudjihardjo
: 10.9790/487X-0940111      logo

Abstract: This research aims to test and prove empirically: (1) whether individual characteristics, demographic factors, social-economic characteristics, work environment, and government policy have any impact on the productivity of female workers from Buginese, Makassarese and Torajanese ethnic groups in the food and beverage small industry sector in Makassar city; (2) whether there is any difference of productivity among those female workers. The population of this research includes all female workers in the food and beverage small industry sectors, consisting of 812 individuals. The sample of this research is 114 respondents. Sample is taken using simple random sampling method; and data are analyzed using multiple regressions. The findings of this research show that: (1) individual characteristics (health, tenure, work ethic), demographic characteristic (age), social-economic characteristic (wage) and work environment have significant impact on the productivity of female workers from the three ethnic groups in small industry sector in Makassar; meanwhile; demographic characteristics (number of dependant), social-economic characteristic (education), and government policy do not (2) there are significant differences in the productivity of female workers among the Buginese, Makassarese and Torajanese ethnic groups in the food and beverage small industry sectors in Makassar.

Keywords: productivity, female worker, ethnic groups, industry

[1] Guza, 2008. Himpunan Undang -Undang Tenaga Kerja. Penerbit Asa Mandiri Jakarta

[2] Indonesia Statistic/ Badan Pusat Statistik. 2010 Keadaan ketenagakerjaan Indonesia

[3] Indonesia Statistic/ Badan Pusat Statistik 2009 Keadaan Angkatan Kerja 2009

[4] Simanjuntak, Payaman. 2000. Kompensasi Efektif Untuk Produktivitas, Majalah Bagi Manajemen Dan Eksekutif No 139. PT Pustaka Binaan Pressindo ,Jakarta

[5] Bloom, D.E., Canning, D. and Sevilla, J. (2001), The Effect of Health on Economic Growth: Theory and Evidence, working paper no. 8587, National Bureau of Economic Research, Cambridge, MA

[6] Pindus, N., Koralek, R., Maritinson, K. and Trutko, J. (2000), Coordination and Integration ofWelfare and Workforce Development System, The Urban Institute, Washington, DC.

[7] Schultz, T. (2002), "Wage gains associated with height as a form of human capital", american Economic Review, Vol. 92 No. 2, pp. 349-53.

[8] Bloom ,D.E. And Canning, D (2003) The Health and Poverty Of Nation ; From Theory To Practice, Journal Of Human Development Vol 4 No 1, pp 827-55

[9] Llewelyn , (1999) Pengujian Model Regresi Untuk Pengukuran Produktivitas Tenaga Kerja .Kasus Industri Kecil Di Jawa Timur. Jurnal Kewirausahaan Vol 1.,1-11

[10] Setiawati,Rike dan Sophia Amin (2001)., Faktor-faktor yang Mempengaruhi Produktivitas Tenaga Kerja Wanita pada Industri Kecil di Kota Jambi, Jurnal Pemberdayaan Perempuan , Vol.1, No.2, Kantor Menteri Negara Pemberdayaan Perempuan, Jakarta.

Paper Type : Research Paper
Title : Industrial Tourism: An Introduction
Country : India
Authors : Dr.S.Jansirani, Mrs.Mangai ,
: 10.9790/487X-0941214      logo

Abstract: Industrial tourism has become increasingly popular in recent years, particularly in India. From power stations to distilleries and rope makers to chocolate manufacturers, all sorts of sites are opening their doors to the public. The automotive industry in particular is attracting considerable interest with production sites welcoming thousands of visitors every year. This article gives a brief overview of the concept of industrial tourism and lists the benefits. Studies on four different sites are presented, outlining their visitor profiles, economic benefits and marketing activities.

[1]. VisitBritain. Topic Profile Culture and Heritage.

[2]. European Institute for Comparative Urban Research (Euricur). Industrial Tourism: opportunities for city and enterprise. Erasmus University Rotterdam. [

3]. Peumans, D (2006). Economisch-geografische analyse van het Industrieel Toerisme in Limburg. Universiteit Hasselt.


[5]. [6]. TEA/ERA Themed Entertainment Association and Economics Research Associates Post International Theme Park Numbers for 2008.

Paper Type : Research Paper
Title : A Case Study on Customer Acquisiton and Retention on the Airline Service Industry
Country : India
Authors : Dr. Lalita Shukla
: 10.9790/487X-0941533      logo

Abstract: This report provides an analysis on customer acquisition and retention on the airline industry. This research has been done because of the rapid increasing of airline service usage. In today's time where the competition is strict, knowing how to acquire and retained customers is very important. Hence, these project objectives are to find out what are the factors that affect customer's satisfaction and provide recommendations for better customers' acquisition, repetition and recommendation for airline service. First of all, the airline industry background has been analyzed by Porter's five forces model. Based on the analysis, it shows that the power of suppliers and competition between existing firms in airline service industry is high. While, the threats of substitutes, power of buyer and threats of new entrants are relatively low. Moreover, in order to help airline companies to survive this strict competition, several important attributes have been provided to achieve the objectives. This includes Customer acquisition, Customer retention, Customer Satisfaction and loyalty, Service Recovery and Management and Training. Next, this project use primary quantitative research method which is distributing survey and use several journal and books as a secondary research method to support the thesis. The sample size of the survey is 80 respondents. The data will be analyzed using XLD Data analyst. Based on the result, it shows several factors that affect customer's satisfaction which lead to acquisition, repetition and recommendations in purchasing airline service

Keywords: Customer Acquisition, Customer Acquisition, Customer Satisfaction, Airline.

[1]. Baran, G. Galka, R. and Strunk, D., 2008. Principles of Customer Relationship Management. Mason: Thompson South-Western. [2]. Berman, B. and Evans, J.R., 2010. Retail Management: a strategic approach. 11th ed. New Jersey: Prentice Hall.
[3]. Burns, A. C. and Bush, R.F., 2005. Marketing Research: Online Research Applications. 4th ed. New Jersey: Pearson Education, Inc.
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[5]. Byars, L.L. and Rue, L.W., 2003. Human Resource Management. 7th ed. New York: McGraw-Hill Companies, Inc.
[6]. Cheng, P.L.K., 2000. Strategic Customer Management Enhancing Customer Retention and Service Recovery. 4 Pang Seng Road Singapore: BusinessCraft Consultancy.
[7]. Churchill, G.A. and Brown, T.J., 2007. Basic Marketing Research. 6th ed. Ohio: Thompson South-Western.
[8]. Collis, D.J. and Montgomery, C.A., 1997. Corporate Strategy Resources and the scope of the Firm. Chicago: McGraw-Hill Irwin.
[9]. Coulter, M., 2008. Strategic Management in Action. 4th ed. New Jersey: Pearson Education Inc.
[10]. Hanan, M., 2003. Consultative Selling. 7th ed. New York: Amacom

Paper Type : Research Paper
Title : A Study On Hrm Practices And Its Impact On Globalisation Of Indian Business.
Country : India
Authors : Dr. C. Jothi Baskara Mohan
: 10.9790/487X-0943436      logo

Abstract: The rapidly changing business environment in India and abroad brings many challenges and some top of the mind business issues for companies. Today work force is undergoing radical change as a result of powerful global forces. This research paper, though exploratory in nature aims to help companies to understand the global and regional talent trends. Detailed research may be undertaken to equip the Indian organizations with knowledge to benchmark their talent management practices, identify the gaps in their programme, develop a road map for execution and generate innovative solutions to attract, engage , develop and retain their talent.

Keywords :- Business environment, talent management, global and regional trend.

[1]. A. Monappa and M Engineer "Liberalisation and Human Resource Management", Response books, New Delhi (1999).
[2]. VSP Rao, Human Resource Management, Excel books, New Delhi (2009).
[3]. D. Ulrich,"A new mandate for Human Resources", Harvard Business Review, Jan-Feb 1998.
[4]. N. Papalexandris,"Downsizing and Outplacement:the Role of HRM, The International Journal of Human Resource Management.
[5]. B.H. Hravey, " Technology, Diversity and Work Culture: Key trends in the Next Millennium", HR magazine, July 2000.

Paper Type : Research Paper
Title : Online Banking System-Its Application in Some Selected Private Commercial Banks in Bangladesh
Country : Bangladesh.
Authors : Muhammad Abdus Sattar Titu, Md. Azizur Rahman
: 10.9790/487X-0943744      logo

Abstract: The outcome of the study is based on both the primary and secondary data and information. The primary data were collected from a total number of 50 customers (25 big and 25 mid level customers) from 10 Private Commercial Banks (PCBs). Again, a total number of 50 bankers taking 5 from each sample banks were also selected as the respondents. Both the banks and customers were selected using convenient sampling for easy and smooth collection of data and information

Keywords: Online Banking System, Private Commercial Bank, Debit & Credit card, ATM, and SWIFT.

[1] ACNielsen Online. AC Nielsen Online Taiwan online banking report. Available at: 2001

[2] Ahsan, AFM Mainul :"E-commerce in Bangladesh", The Financial Express, Bangladesh, January 12, 2009

[3] Alanazi et al , "On the Module of Internet Banking System" JOURNAL OF COMPUTING, 2 (5) 2010,133-143 [4] Baten and Kamil, "E-Banking of Economical Prospects in Bangladesh" Journal of Internet Banking and Commerce, 15 (2 )2010,

[5] Hamill,, J. . The internet and international marketing. International Marketing Review, 14(5) 2010,.300-323

[6] Hamid, M. R. A., et al. A comparative analysis of Internet banking in Malaysia and Thailand. Journal of Internet Business(4) 2007,1-19.

[7] Hamadi Chakib, the impact of quality of online banking on customer commitment, IBIMA publishing,2010

[8] Hoque & Ismat Ara (2000), "Assessment of Customer Services-A Comparative Study of some Nationalized and Private Banks in Bangladesh, Bureau of Business Research, Chittagong University,2000, 2-17.

[9] Kalakota, R., & Whinston, A. E-commerce: A manager‟s guide, Addison Wesley, Reading, MA, 1997.

[10] Malydri, P., " Customer services in Commercial Banks:Strategic Maneuvers", Management and Development, Excel Books, New Delhi, 1998, 288.

Paper Type : Research Paper
Title : Working Capital Trends and Liquidity Analysis of Fmcg Sector in India
Country : India
Authors : Shweta Mehrotra
: 10.9790/487X-0944552      logo

Abstract: Management of Working Capital is one of the most important functions of corporate management. Every organization whether public or private, profit oriented or not, irrespective of its size and nature of business, needs adequate amount of working capital. The efficient working capital management is most crucial factor in maintaining survival, liquidity, solvency and profitability of the any business organization. A company needs sufficient finance to carry out purchase of raw materials, payment of day-to-day operational expenses and funds to meet these expenses are collectively known as working capital. Keeping in view the significance of working capital management as a gray area of corporate finance function, an attempt has been made to examine the working capital trends and practices particularity in FMCGs sector in India by selecting five FMCGs companies (named as Hindustan Unilever Limited, Nestle India Limited, Britannia Industries, Procter & Gamble and ITC). The FMCG sector in India is at present, the fourth largest sector with a total market size in excess of USD 13 billion as of 2012. This sector is expected to grow to a USD 33 billion industry by 2015. This industry primarily includes the production, distribution and marketing of consumer packaged goods, that is those categories of products which are consumed at regular intervals. The study is based on secondary data i.e. Annual Reports of the selected companies. The period of study is five years and traditional method of data analysis and ratio analysis as tools of financial statement analysis for examine the degree of efficiency of working capital management has been adopted.

Keywords: Current Assets, Financial Ratios, FMCG sector, Liquidity analysis, Working capital management.

[1]. M. Anand, Working Capital performance of corporate India: An empirical survey, Management & Accounting Research, 2001, Vol. 4(4), pp. 35-65
[2]. H. Bhattacharya, Working Capital Management: Strategies and Techniques, 2001, Prentice Hall, New Delhi
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[4]. A. Bhunia , A trend analysis of liquidity management efficiency in selected private sector Indian steel industry,2010, International Journal of Research in Commerce and Management, 1: 9–21
[5]. F. Chittenden, Poutziouris and N. Michaelas, Financial Management and Working Capital Practices in UK SMEs, 1998, Manchester, Manchester Business School
[6]. D. Deloof, Does Working Capital Management affect Profitability of Belgian Firms"? Journal of Business Finance and Accounting, 2003, Vol 30 No. 3 & 4 pp. 573 – 587
[7]. R. K. Jain, Working capital management of state enterprises in India.1988, Jaipur, National Publishing House
[8]. P. V. Joshi, Working Capital Management under Inflation, 1995,Anmol Publishers, Delhi
[9]. K. Padachi, Trends in working capital management and its impact on firms performance: an analysis of Mauritian small manufacturing firms, International Review of Business Research Papers, 2006, 2: 45–58
[10]. R.K.S. Rao, Fundamentals of Financial Management. Macmillan Publishers, 1989, 550–644

Paper Type : Research Paper
Title : The Footwear Online Shopping Experience: Word of Mouse Tell How e-Service Quality Enhance Customer Satisfaction and Loyalty
Country : Indonesia
Authors : Nanis Susanti, Surachman, Djumilah Hadiwidjojo, Fatchur Rohman
: 10.9790/487X-0945361      logo

Abstract: This study reveals and illustrates how online store customer's perspective about e-Service Quality, e-Satisfaction and e-Loyalty, as expressed in online customer reviews. The discussion associated with the online shopping phenomenon for the search good and experience good category in apparel product lines - especially shoes. Using data from's customer reviews, interpretive analysis which focused on customer evaluations of the service quality, and how the customer connect it to satisfaction and loyalty. Data with review depth of more than 15 lines within 18 months period (January 2011 - March 2012) was used to reveal the customer's perspective of the studied dimensions.

Keywords - Customer Satisfaction, Customer Loyalty, Online Shopping, Service Quality, Word of Mouse.

[1] Nielsen, A Global Consumer Report: Trends in Online Shopping, February 2008, 1-7. [Online] Available:
[2] Nielsen, The Digital Media Habits and Attitudes of Southeast Asian Consumer, October 2011, 1-18. [Online] Available:


[5] George, J.F., Influences on the Intent to Make Internet Purchases, Internet Research: Electronic Networking Applications and Policy, 12 (2), 2002, 165-180.

[6] Zeithaml, V.A., A. Parasuraman and Arvind Malhotra, Service Quality Delivery Through Web Sites: A Critical Review of extant Knowledge, Journal of the Academy of Marketing Science, 30 (4), 2002, 362-375.

[7] Rodgers, W., Solomon Negash and Kwanho Suk, The Moderating Effect of On-line Experience on the Antecedents and Consequences of On-Line Satisfaction, Psychology & Marketing 22 (4), 2005, 313-331.

[8] Yang, H., Assessing the Effects of e-Quality and e-Satisfaction on Website Loyalty, International Journal of Mathematics and Computers in Simulation 1 (3) , 2007, 288-294.

[9] Wang, Ming, Assessment of e-Service Quality via e-Satisfaction in e-Commerrce globalization, The Electronic Journal on Information Systems in Developing Countries 11 (10), 2003, 1-4 .

[10] Li, Hongxiu and Reima Suomi, A Proposed Scale for Measuring E-service Quality, International Journal of u- and e-Service, Science and Technology 2 (1), 2009, 1-10.

Paper Type : Research Paper
Title : Relationship between leadershipand employee productivity in an organization
Country : Nigeria
Authors : Oladipo KolapoSakiru, Jemilah Othman ,Aliyuyero, Mohammed Abdullahi,Narges Kia
: 10.9790/487X-0946266      logo

Abstract: Thispaperexaminesthe relationship thatexistsbetweenleadershipand employee productivity in an organization. Itdescribestheinterplaybetweeneffective leadership and elegance, properusage ofemployee'sabilityandmotivationeffectsin organizationalproductivity. Leadershipoccupiesa reallysensitivepositionin almost any effective-driven modernorganization. Thispaperobservesthatamong thelabor forcein Nigeria, you will findemployeesendowedrich inabilityandwhosevaluesandcontributionshave to beutilizedand enhanceduponfor topproductivity. Itchallengesleadershipinorganizationto completelyuse them incommerciallyhighproductivityandnationaleconomicdevelopment. Thepaper implicates among others, the lack ofeffectiveleadershipandefficientmanagementstylesparticularly intodayof effective-driven productioneconomy.Itunderscoresthe requirement forefficientorganizational ideas ingrained withpracticalleadershipandspiritualcapitalfor the establishmentandimplementationof organizational andsustainableproductivity among the employee in the organization.

Key word: leadership, organization, employee productivity

[1]. Maley, D. 1995. Leadership and mobilizing potentia, Human Resource Management, 10(1):8-16.
[2]. Charlton (2000). A Study to improve Organizational Performance: A View from SHRM. Journal American Academic Business, 4: 289-294.
[3]. HellriegletB. (2004) Organization Theory: Structure, Decision and Application. New Jessy: Prentice-Hall International Inc.
[4]. Bass, B.M. (1997) Does the transactional-transformational leadership paradigm transcend organizational and national boundaries? American Psychologist, 52: 130-139.
[5]. Iheriohanma, E.B.J. (2006) Perceiving Worker's Interest in Participatory Management: Issues and Challenges. International Journal of Social Sciences, 5, 113 -129.
[6]. Mbogu, G. C. (2001) ‗Implications of Leadership Styles of Administrators on Job Performance in Two Selected Organizations in Owerri, Imo State' Unpublished Thesis. Calabar: University of Calabar . Nigerian Institute of Social and Economic Research (NISER) (1998) ‗Capacity Building Indicators in Public and Private Sectors'. NISER Annual Monitoring Research Project (NAMRP). Ibadan .
[7]. Akunyili, D.N. (2008) The Contemporary Nigerian Organization and its Leadership Challenges for Women Managers. Management in Nigeria: Journal of Nigerian Institute of Management, 44 (2), 14-21.
[8]. Iheriohanma, E.B.J. (2002) Contemporary Issues in Organization Theory and Management . 2nd edition. Owerri: CREMD Publishers.
[9]. Ezuluke R.E. (2001) ‗An Appraisal of Manpower Development Practice in Agricultural Institution: A Case Study'. Benin Journal of Social Sciences, 2 (2), 99 – 109.
[10]. Boisot, M.H. (1998) Knowledge Assets. New York : Oxford University Press.

Paper Type : Research Paper
Title : Relationship Between Entrepreneurshipand Employability Among Nigerian Tertiary Institution Graduates
Country : Malaysia
Authors : Oladipo kolaposakiru, Gafar Olanrewaju yusuf ,Mohammed Abdullahi, Aliyu yero, Narges Kia
: 10.9790/487X-0946770      logo

Abstract: Many graduatesin Nigeria areunemployed, regardless oftheirqualifications, they're employable yetthey aren'temployed. The lack ofabilityfrom thegreatereducational facilitiesto meetthe requirements ofthosegraduatesin addition topromotionof monetaryselfrelianceandself sufficiency hasresultedinto youths joblessness (unemployment). Thesehaveput intorise in restiveness among Nigerian youths. Thestudy looks into the relationship between entrepreneurship and employability among Nigerian graduates. Thepaper, talked aboutthe idea ofentrepreneurshipand employability. Since employability is theactionof gettingqualificationthat allowsanyone toemployed, the studyalsochecked outthe fundamentalabilitieswhich will makeone employable andsimultaneouslybecomingselfsufficient.Alsotalked aboutare methodsforwardinmarketingentrepreneurshipamong Nigerian youths and just howteachingofcreativenessandproblemfixingabilitiesmight help reposition Nigerian graduates.

Key word : employability, entrepreneurship, Nigerian graduates, youth.

[1]. Diajomal .U. and Orimolade .W. (1991).Unemployment in Nigeria, Economic Analysis of Scope, Trends and Policy Issues.
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Paper Type : Research Paper
Title : Customer Retention Strategies by mobile phone Service providers in Zimbabwe: Case of Masvingo City
Country : Zimbabwe
Authors : MoyoTalak, Makore Albert
: 10.9790/487X-0947182      logo

Abstract: Customer retention is the hallmark of Relationship Marketing, which is the current buzz word and it is the basis of sustainable competitive advantage. In the context of heightening global competition, customer retention is the way to hedge a firm's market from competition. It is five times cheaper to market to retained customers than to acquire new customers. The purpose of this research is to analyze the retention strategies used by the Zimbabwean mobile phone service providers and determine factors that cause customer retention for Zimbabwean mobile service providers. A survey was conducted on 120 subscribers from the three mobile network subscribers using structured questionnaires

Keywords: Customer, customer retention, strategies, mobile phone providers

[1]. Adeleke, A., and Aminu, S.A. (2012), "The Determinants of Customer Loyalty in Nigeria's GSM Market", International journal of Business and Social Science, Vol.3 No.14, pp.209-222.
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[5]. Buttle, F. (2008), Customer Relationship Management Concepts and Technologies Second edition, Butterworth, USA.
[6]. Crossby, L.A., Evans, K.R.and Cowles, D. (1990),"Relationship quality in Services: An interpersonal influence perspective. The Journal of Marketing, Vol.54 pp.68-81.
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[9]. Gummesson, E. (2008) Total Relationship Marketing management, relationship strategy, CRM and a new dominant logic for the value –creating network. Third Edition, Butterworth, UK.
[10]. Gustafsson, A., M. D. J and Roos,I. (2005), "The effects of customer satisfaction, relationship commitment dimensions, and triggers on customer retention‟. Journal of Marketing, 69, pp.210–218.

Paper Type : Research Paper
Title : Failure Factors of ERP Projects in an Iranian Context
Country : Malaysia
Authors : Malahat Pouransafar ,Maral Cheperli, Mohammad Reza Faraj Tabrizi
: 10.9790/487X-0948387      logo

Abstract: Implementing an information technology project is a very challenging task that needs several preparations such as assigning a professional project manager, receiving top management support , employee engagement ,etc. Same studies have been conducted about the success and failure factors of the enterprise resource planning (ERP) projects and several researchers concluded that the ERP projects are very vulnerable.This qualitative research is an attempt to summarize the most common failure factors of the ERP projects in Iranian manufacturing industries.

key words: ERP failure Factor, IT project Management .

[1] D. O'Leary, "Enterprise Resource Planning Systems: Systems, Life Cycle, Electronic Commerce, and Risk," Cambridge University Press, 2000.

[2] C. Koch, D. Slater and E. Baatz, "The ABCs of ERP," CIO, London, 2001.

[3] R. Malhotra and C. Temponi, "Critical decisions for ERP integration: small business issues," International Journal of Information Management, pp. 28-37, 2010.

[4] T. Davenport, "Putting the enterprise into the enterprise system," Harvard Business Review, p. 4, 1998.

[5] M. Al-Mashari, "Constructs of process change management in ERP context: a focus on SAP R/3," Proceedings of the Sixth Americas Conference on Information Systems, Long Beach, CA, 2000.

[6] V. Kumar, B. Maheshwari and U. Kumar, "An investigation of critical management issues in ERP implementation: emperical evidence from Canadian organizations," Technovation, p. 793–808, 2003.

[7] P. Soja, "Difficulties in enterprise system implementation in emerging economies: insights from an exploratory study in Poland," Information Technology for Development, p. 31–51, 2008.

[8] Z. Huang and P. Palvia, "ERP implementation issues in advanced and developing countries," Business Process Management Journal, p. 276–284, 2001.

[9] Y. Xue, "ERP implementation failures in China: case studies with implications for ERP vendors," International Journal of Production Economics, p. 279–295, 2005.

[10] E. Umble, R. Haft and M. Umble, "Enterprise resource planning: implementation procedures and critical success factors," European Journal of Operational Research, p. 241–257, 2003.

Paper Type : Research Paper
Title : The free risk rate of return and factors that affect its assessment
Country : Republic of Macedonia
Authors : Diana Boskovska
: 10.9790/487X-0948892      logo

Abstract: The cost of capital is a key variable in the financial analysis because it provides adequate assessment of the value of capital, and the value of individual securities. Hence, the important question is how to determine the cost of capital. Initial basis for determining the cost of capital is a determining risk free rate of return that is subject of research in the paper. Risk free rate of return exists when the expected rate of return is known with certainty, that means that realized proceeds of an asset is equal to the expected yields of the same asset. Rate of return on that asset is characterized as risk-free rate of return. To be able to adequately determine the risk free rate of return is necessary to determine the factors affecting its value, such as the currency in which it is expressed risk free rate of return and inflation. Therefore, the paper explored the reasons that may lead to inadequate assessment of the risk free rate of return due to inadequate treatment of the impact of currency and inflation in the analysis.

Keywords - securities, cost of capital, free risk rate of return, currency, inflation.

[1] Reilly F. K., Brown K. C., Investment analysis and portfolio management, 7 (South-Western/Thomson Learning, Cincinnati Ohio, 2002).

[2] Damodaran A., Into the Abyss: What if nothing is risk free? SSRN, New York University - Stern School of Business, July, 2010.

[3] Damodaran A., What is the riskfree rate? A Search for the Basic Building Block, New York University -Stern School of Business, December, 2006.


[5] and

[6] Damodaran A., The dark side of valuation: valuing young, distressed and complex businesses, 2 (FT Press, Upper Saddle River, N.J., 2010).

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