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    • 簡介:中文3450字,2300單詞,13500英文字符文獻出處ENQVISTJ,GRAHAMM,NIKKINENJTHEIMPACTOFWORKINGCAPITALMANAGEMENTONFIRMPROFITABILITYINDIFFERENTBUSINESSCYCLESEVIDENCEFROMFINLANDJRESEARCHININTERNATIONALBUSINESSBUSINESSCYCLESPROFITABILITY1INTRODUCTIONTHISPAPERINVESTIGATESTHEEFFECTOFTHEBUSINESSCYCLEONTHELINKBETWEENWORKINGCAPITAL,THEDIFFERENCEBETWEENCURRENTASSETSANDCURRENTLIABILITIES,ANDCORPORATEPERFORMANCEEFFICIENTWORKINGCAPITALMANAGEMENTISRECOGNIZEDASANIMPORTANTASPECTOFFINANCIALMANAGEMENTPRACTICESINALLORGANIZATIONALFORMSINACKNOWLEDGEMENTOFTHISIMPORTANCE,THECFOMAGAZINEPUBLISHESANANNUALSTUDYOFCORPORATEWORKINGCAPITALMANAGEMENTPERFORMANCEINMANYCOUNTRIESTHEEXTENSIVELITERATUREINDICATESTHATITIMPACTSDIRECTLYONCORPORATELIQUIDITYKIMETAL,1998ANDOPLERETAL,1999,PROFITABILITYEG,SHINANDSOENEN,1998,DELOOF,2003,LAZARIDISANDTRYFONIDIS,2006ANDUKAEGBU,2014,ANDSOLVENCYEG,BERRYMAN,1983ANDPEELANDWILSON,1994ITISREASONABLETOASSUMETHATECONOMYWIDEFLUCTUATIONSEXOGENOUSTOTHEOPERATIONSOFTHEFIRMPLAYANIMPORTANTROLEINTHEDEMANDFORFIRMS’PRODUCTSANDANYFINANCINGDECISIONKORAJCZYKANDLEVY2003,FORINSTANCE,SUGGESTTHATFIRMSTIMEDEBTOFTHISIMPORTANTWORKINGCAPITAL–PROFITABILITYRELATIONSHIPHITHERTONOACADEMICSTUDYHASEXAMINEDTHEWORKINGCAPITAL–PROFITABILITYRELATIONSHIPINTHENORDICREGION,TOTHEBESTOFOURKNOWLEDGESURVEYSONWORKINGCAPITALMANAGEMENTINTHENORDICREGIONCARRIEDOUTBYDANSKEBANKANDERNSTYOUNGIN2009SHOW,HOWEVER,THATMANYCOMPANIESRATEDTHEIRWORKINGCAPITALMANAGEMENTPERFORMANCEASAVERAGE,WITHAGROWINGFOCUSONOPTIMIZINGWORKINGCAPITALINTHEFUTURETHESURVEYSARE,HOWEVER,SILENTONHOWTHISAVERAGEPERFORMANCEAFFECTEDPROFITABILITYTHISGIVESFURTHERIMPETUSFOROURSTUDYOURRESULTSPOINTTOANUMBEROFINTERESTINGFINDINGSFIRST,WEFINDTHATFIRMSCANENHANCETHEIRPROFITABILITYBYINCREASINGWORKINGCAPITALEFFICIENCYTHISISASIGNIFICANTRESULTBECAUSEMANYNORDICFIRMSFINDITHARDTOTURNGOODPOLICYINTENTIONSONWORKINGCAPITALMANAGEMENTINTOREALITYERNSTANDYOUNG,2009ECONOMICALLY,FIRMSMAYGAINBYPAYINGINCREASINGATTENTIONTOEFFICIENTWORKINGCAPITALPRACTICESOUREMPIRICALFINDING,THEREFORE,SHOULDMOTIVATEFIRMSTOIMPLEMENTNEWWORKPROCESSESASAMATTEROFNECESSITYWEALSOFOUNDTHATWORKINGCAPITALMANAGEMENTISRELATIVELYMOREIMPORTANTINLOWECONOMICSTATESTHANINTHEECONOMICBOOMSTATE,IMPLYINGWORKINGCAPITALMANAGEMENTSHOULDBEINCLUDEDINFIRMS’FINANCIALPLANNINGTHISFINDINGCORROBORATESEVIDENCEFROMTHESURVEYRESULTSINTHENORDICREGIONSPECIFICALLY,THESURVEYRESULTSBYERNSTANDYOUNG2009INDICATETHATTHELARGESTPOTENTIALFORIMPROVEMENTINWORKINGCAPITALCOULDBEFOUNDWITHINTHEOPTIMIZATIONOFINTERNALPROCESSESTHISSUGGESTSTHATTHISAREAISNOTPRIORITIZEDINTIMESOFBUSINESSGROWTHWHICHISTYPICALOFTHEGENERALECONOMICEXPANSIONPERIODSANDISEXPOSEDINECONOMICDOWNTURNSTHEREMAINDEROFTHISPAPERISORGANIZEDASFOLLOWSSECTION2PRESENTSABRIEFREVIEWOFTHELITERATUREPRESENTSTHEHYPOTHESESFOREMPIRICALTESTINGSECTIONS3AND4DISCUSSDATAANDMODELSTOBEESTIMATEDTHEEMPIRICALRESULTSAREPRESENTEDINSECTION5ANDSECTION6CONCLUDES2RELATEDLITERATUREANDHYPOTHESES21LITERATUREREVIEWMANYFIRMSHAVEINVESTEDSIGNIFICANTAMOUNTSINWORKINGCAPITALANDANUMBEROFSTUDIESHAVEEXAMINEDTHEDETERMINANTSOFTHISINVESTMENTFOREXAMPLEKIMETAL1998ANDOPLERETAL1999,CHIOUETAL2006ANDD’MELLOETAL2008FINDTHATTHEAVAILABILITYOFEXTERNALFINANCINGISADETERMINANTOFLIQUIDITYTHUSRESTRICTEDACCESSTO
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    • 簡介:1中文中文5800字,字,3200英文單詞,英文單詞,18萬英文字符萬英文字符文獻出處文獻出處BELOMYTTSEVAO,GRINKEVICHLDIVIDENDPOLICYOFSTATEOWNEDCOMPANIESEVIDENCEFROMTHERUSSIANFEDERATIONM//SPRINGERINTERNATIONALPUBLISHING2017749759DIVIDENDPOLICYOFSTATEOWNEDCOMPANIESEVIDENCEFROMTHERUSSIANFEDERATIONOLGABELOMYTTSEVAANDLARISAGRINKEVICHABSTRACTTHISPAPERANALYZESTHEFEATURESOFTHEDIVIDENDPOLICYOFCOMPANIESINEMERGINGCAPITALMARKETSSTATEOWNERSHIPINTHECAPITALSTRUCTUREOFLARGECORPORATIONSISCONSIDEREDASONEOFTHEMAJORFEATURESTHEPAPERSPECIFIESTHEFEATURESOFTHEDIVIDENDPOLICYANDPROVIDESASTATISTICSANALYSISOFDIVIDENDPAYOUTRATIOANDDIVIDENDYIELDOFRUSSIANSTATEOWNEDJOINTSTOCKCOMPANIESTHERECOMMENDATIONSPRESENTEDINTHESTUDYAPPLYTOGOVERNMENTREGULATIONOFTHEDIVIDENDPOLICYINRUSSIANSTATEOWNEDJOINTSTOCKCOMPANIESKEYWORDSDIVIDENDPOLICYSTATEOWNEDCOMPANIES1INTRODUCTIONDIVIDENDPOLICYISONEOFTHEMOSTCOMPLEXANDCONTROVERSIALASPECTSOFFINANCIALSTUDIESBLACK1976,P510SUPPORTEDASIMILARVIEWWHENSTATEDTHATDIVIDENDPICTURE“SEEMSLIKEAPUZZLE,WITHPIECESTHATDONOTFITTOGETHER”BREALEYETAL2010DESCRIBEDDIVIDENDPOLICYASONEOFTHETOPTENUNSOLVEDPROBLEMSINFINANCECONSEQUENTLY,STUDIESONDIVIDENDPOLICYHAVEPRODUCEDASIGNIFICANTNUMBEROFCONTRADICTORYHYPOTHESES,THEORIESANDIDEASTHEPROBLEMISTHATTHEYMAINLYFOCUSONDEVELOPEDMARKETSANDFAILTOPROVIDEENOUGHKNOWLEDGEONDIVIDENDPOLICYINEMERGINGMARKETSANDTHEIRSEGMENTSTHESCIENTISTSWHOCONDUCTTHEIRRESEARCHINTHEFIELDOFDIVIDENDPOLICYINEMERGINGMARKETSARENOTNUMEROUSGLENETAL1995INVESTIGATEDIVIDENDPOLICYINDIFFERENTEMERGINGMARKETSGUL1999,DIVIDENDPOLICYINCHINESEENTERPRISESAIVAZIANETAL2003,DIFFERENTEMERGINGMARKETSDIVIDENDPOLICYINCOMPARISONWITHAMERICANFIRMSNASERETAL2004,ANDALKUWARI2004,2009,THEDIVIDENDPOLICYOFTHECOUNTRIESOFTHEGULFCOOPERATIONCOUNCILALMALKAWI2007,THEDIVIDENDPOLICYOFTHEJORDANCOMPANIESSIERPINSKASAWICZ2014,DIVIDENDPOLICYOFTHEPOLISHCORPORATIONSWARDHANAANDNUGROHO2014,DIVIDENDPOLICYININDONESIANENTERPRISESAPPARENTLY,DIVIDENDPOLICYOFCOMPANIESINEMERGINGMARKETSHASANUMBEROFDISTINCTIVEFEATURESDUETOTHEFACTORSDETERMININGITSFORMULATION,THEACTIVEROLEOFTHESTATE,EFFICIENCY,POORPREDICTABILITY,ETCWITHTHISINMIND,THEOBJECTIVEOFOURSTUDYISTOINVESTIGATEANDDETERMINETHEFEATURESSPECIFICTOTHEDIVIDENDPOLICYOFRUSSIANSTATEOWNEDCOMPANIESTHESTRUCTUREOFTHEPAPERISASFOLLOWSCHAPTER2PRESENTSALITERATUREREVIEWONDIVIDENDPOLICYOFSTATEOWNEDCOMPANIESINEMERGINGMARKETSCHAPTER3DISCUSSESSPECIFICFEATURESOFEMERGINGMARKETSDIVIDENDPOLICYDIVIDENDPOLICYOFRUSSIANSTATEOWNEDCOMPANIESINCLUDINGDIVIDENDPAYOUTRATIOSTANDARDSANDITSBACKGROUNDISADDRESSEDINCHAP4THECONCLUSIONANDRESEARCHPROSPECTSAREOUTLINEDINTHE3ECONOMIESISEXTREMELYHIGHDIVIDENDSINTHISCASECANBETREATEDASADISCIPLINARYINSTRUMENTITSHOULDBEEMPHASIZEDTHATSTATEOWNERSHIPINTHECAPITALSTRUCTUREHASSOMEADVANTAGESOVEROTHERINVESTORS,INCLUDINGMINORITYSHAREHOLDERSASARESULT,STATEOWNEDCOMPANIESENCOUNTERFEWERDIFFICULTIESINRAISINGFUNDSCONSEQUENTLY,THEYCANAFFORDHIGHERDIVIDENDPAYMENTSBOUBAKRIETAL2009THESAMEVIEWWASEXPRESSEDBYGUL1999WHOSPECIFIEDTHATPRIVATECOMPANIESFINDITMOREDIFFICULTTOOBTAINDEBTFINANCINGANDTHEYAREFORCEDTORELYONRETAINEDEARNINGSFORINVESTMENTSTHESTATECANACTASASAFEGUARDFORTHEMINORITYSHAREHOLDERSBYCONTROLLINGINSIDERSHAREHOLDERSANDPAYINGLARGERDIVIDENDSGLENETAL1995,EFFECTIVELYIMPROVINGCOMPANY’SREPUTATIONINTHEEYESOFFOREIGNINVESTORSNASERETAL2004CONCENTRATIONOFSTOCKOWNERSHIPANDWEAKCORPORATEGOVERNANCETHATLEADTOEXPROPRIATIONOFTHECOMPANY’SRESOURCESFORTHEBENEFITOFINDIVIDUALSHAREHOLDERSACCORDINGTOTHISPOINT,SHAREHOLDERSANDOTHERSTAKEHOLDERSMAYDISTORTINCENTIVESINDECISIONMAKING,WHICHULTIMATELYREDUCESCORPORATEPERFORMANCELOWANDUNSTABLEDIVIDENDPAYMENTSINMOSTCASES,COMPANIESINEMERGINGMARKETSREINVESTMOSTOFTHEPROFITSDIVIDENDPAYMENTSDONOTEXCEED10OFPROFITINTHEBRICSCOUNTRIES,WITHTHEEXCEPTIONOFBRAZIL,WHERETHEDIVIDENDPAYMENTSAMOUNTTO228OFNETPROFITPIROGOVANDKRAVCHUK2011PAYMENTSINTHEUSAAMOUNTTO3253PIROGOVANDKRAVCHUK2011INSTABILITYOFDIVIDENDPAYMENTSCOULDBETREATEDASVOLATILITYASITWASSTATEDBYGLENETAL1995,P9,“DIVIDENDPAYMENTSTENDTOBEMOREVOLATILEINEMERGINGMARKETSTHANINDEVELOPEDCOUNTRIES”DIVIDENDSINEMERGINGMARKETSARECOMMONLYPAIDATTHEENDOFTHEYEAR,WHILEDEVELOPEDMARKETSMOSTLYSHOWINTERIMDIVIDENDSSEVERALSTUDIESDEMONSTRATECORRELATIONBETWEENTHEDIVIDENDAMOUNTSANDTHESIZEOFACOMPANYINEMERGINGMARKETSTHEREFORE,ACCORDINGTOSIERPINSKASAWICZ2014,P240,“THEBIGGESTCOMPANIESTRANSFERMOREOFTHEIRGENERATEDNETPROFITTOSHAREHOLDERS”ALMALKAWI2007HOLDSASIMILAROPINIONINSUFFICIENTTRANSPARENCYANDDISCLOSURELEVELTHETRANSPARENCY–DISCLOSUREINDEXINDEVELOPEDCOUNTRIESIS74OUTOF100,INDEVELOPINGCOUNTRIES66BROCKMANANDUNLU2011THERESEARCHERSPROVETHATGREATERTRANSPARENCYLEADSTOHIGHERDIVIDENDPAYMENTSKOWALEWSKIETAL200731DIVIDENDSINEMERGINGMARKETSONTHEWORLDWIDESCALETHESHAREOFTOTALDIVIDENDSINEMERGINGMARKETSCOMPANIESISQUITEPROMINENTITCONSTITUTESUPTO10–20OFTHETOTALDIVIDENDSOFTHEGLOBALECONOMYBASEDONSTATISTICSFROM2011TABLE691THEREPORTSONDIVIDENDSINEMERGINGMARKETSPRIMARILYREFERTOCHINA,RUSSIA,BRAZILANDINDIA,WITHCHINAHOLDINGTHE10THPOSITIONONTHEGLOBALDIVIDENDPAYOUTLISTOFCOUNTRIESDYNAMICSOFDIVIDENDPAYMENTSINEMERGINGMARKETSISNOTCONSISTENTWITHSIMILARDYNAMICSINDEVELOPEDMARKETS,WHICHISCLEARLYSHOWNINTABLE691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    • 簡介:6300英文單詞,英文單詞,35萬英文字符,中文萬英文字符,中文9950字文獻出處文獻出處BILAUAA,AJAGBEAM,SHOLANKEAB,ETALIMPACTOFEMPLOYEETURNOVERINSMALLANDMEDIUMCONSTRUCTIONFIRMSALITERATUREREVIEWJINTERNATIONALJOURNALOFENGINEERINGRESEARCHEMPLOYEETURNOVERHUMANRESOURCEMANAGEMENTSERVICEORGANIZATIONSCONSTRUCTIONFIRMSNIGERIA1INTRODUCTIONTHEUNIQUENESSOFTHECONSTRUCTIONINDUSTRYESPECIALLYINITSAPPROACHTOWARDSTHEMANAGEMENTOFITSHUMANRESOURCESINAVERYDYNAMICANDCOMPLEXWORKINGENVIRONMENTHASBEENACCLAIMEDBYSEVERALAUTHORS46,22,62THEYARGUEDFURTHERTHATTHISMAYBEBECAUSEDEVELOPINGTHEABILITIESOFHUMANRESOURCESANDRETAININGTHEMOVERAPERIODOFTIMEINANORGANIZATIONISTURNINGTOBEAGREATCHALLENGEFORCONSTRUCTIONINDUSTRIESINTHESMALLANDMEDIUMSIZEDFIRMSSMFSTHISREQUIRESSOUNDANDCOMPETITIVEHUMANRESOURCEMANAGEMENTSUCHASTRAININGANDDEVELOPMENTTOBECARRIEDOUTBYBUSINESSORGANIZATIONSTHISALSOISTOENSURETHEGROWTHOFPERSONNELANDSYSTEMATICALLYREAPINGBENEFITSFROMSKILLEDANDWELLTRAINEDPERSONNELTOENSUREEFFECTIVENESSANDEFFICIENCYINTHECONSTRUCTIONINDUSTRIES44EMPLOYEETURNOVERISTHERATEATWHICHEMPLOYEE’SLEAVEACOMPANYANDHAVETOBEREPLACEDBYNEWOREXISTINGSTAFFBILAU14OPINETHATTHECONSTRUCTIONINDUSTRYISANIMPORTANTSECTORWHICHPLAYSAGREATROLEINTHECOUNTRYTHROUGHTHECREATIONOFEMPLOYMENT,CONTRIBUTINGTOTHEGROSSDOMESTICPRODUCTGDPOFTHECOUNTRYANDPROVISIONOFINFRASTRUCTURESSUCHASHIGHWAYS,RESIDENTIALANDCOMMERCIALCENTERSGEORGEJONES33POSITTHATINTHECONSTRUCTIONINDUSTRY,JOBSATISFACTIONISVERYCRUCIALWHENSTUDYINGHUMANBEHAVIORSANDATTITUDETHEYADDEDTHATJOBSATISFACTIONISTHECOLLECTIONOFFEELINGSANDBELIEFTHATPEOPLEHAVEABOUTTHEIRCURRENTJOBTHEYAREOFTHEOPINIONTHATIFJOBSATISFACTIONSTUDIESAREPROPERLYPLANNEDANDADMINISTERED,ANUMBEROFSIGNIFICANTBENEFITSWILLBEEMPLOYEESISSEENASPARTOFORGANIZATIONALCYCLEANDCONCEPTUALIZEDASUNAVOIDABLELOSESANDWASEXPLAINEDBYHALILANDSELIM36AS?NECESSARYCASUALTIES”EMPLOYEETURNOVERCANBEADVANTAGEOUSINSUCHAWAYTHATOPPORTUNITIESAREPROVIDEDFORTHEORGANIZATIONTOLOSSIT’SLESSPRODUCTIVEEMPLOYEESTHISINTURNRESULTSTOTHERECRUITMENTOFNEWLYANDHIGHLYPRODUCTIVEEMPLOYEES,HENCE,GAININGHUMANCAPITALVALUEINADDITIONTOSAVINGCOSTFORTHEORGANIZATION41,44COSTSTHATCOULDBEINCURREDBYTHEORGANIZATIONISSEPARATIONCOST,REPLACEMENTCOSTANDRETRAININGCOSTSTHELOSSOFSKILLED,RELEVANTANDTALENTEDEMPLOYEESCOULDSTAGNATEORGANIZATIONALPERFORMANCEANDPRODUCTIVITYSOLOMONETAL64ADDEDTHATTHELOSSOFANEMPLOYEETRIGGERSADDITIONALWORKSTRESSANDLOWERSMOTIVATIONFORTHEEMPLOYEESTHATSTAYSBEHINDINORDERWORDS,NEGATIVELYIMPACTINGEMPLOYEES’GROUPMORALEANDORGANIZATIONALMEMBERSHIPVARIOUSSTUDIESHAVESHOWNTHERELATIONSHIPBETWEENEMPLOYEE’STURNOVERANDJOBPERFORMANCEANDALSOTHEEFFECTOFHIGHEMPLOYEETURNOVERRATEONJOBPERFORMANCE64,42THENEXTSECTIONPRESENTSTHETHREETYPESOFEMPLOYEETURNOVERASPRESENTEDINEMPIRICALLITERATURE211VOLUNTARYTURNOVERNOE54POSITTHATWHENEMPLOYEESLEAVEORGANIZATIONSATTHEIROWNDISCRETION,ITISREFERREDTOASVOLUNTARYTURNOVERITISINITIATEDBYTHECHOICEOFANEMPLOYEEASIMILARDEFINITIONISGIVENBYEGAN31STATINGTHATANINSTANCEOFVOLUNTARYTURNOVERREFLECTSANEMPLOYEE’SDECISIONTOLEAVEANORGANIZATION,WHEREASANINSTANCEOFINVOLUNTARYEMPLOYEETURNOVERORADISCHARGEREFLECTSANEMPLOYER’SDECISIONTOTERMINATETHEEMPLOYMENTRELATIONSHIPHOWEVER,CARMELI21EXPLAINSTHATMODELINGTURNOVERINTHISMANNERCANVARYSIGNIFICANTLYFROMANEMPLOYEEVIEWPOINTTOTHATOFTHEEMPLOYERLONGETAL44SUPPORTEDTHATANEMPLOYEEWHOSEPERFORMANCEISBELOWAVERAGEMAYBEFORCEDOUTOFANORGANIZATIONWITHTHREATSOFFIRINGORWITHUNATTRACTIVEHOURSORASSIGNMENTS,YETIFTHEEMPLOYEEINITIATESTHETERMINATIONSHIMSELF,THEYARERECORDEDASVOLUNTARYACCORDINGTOSTAW66,VOLUNTARYEMPLOYEETURNOVERCANBECAUSEDBYLACKOFJOBSATISFACTION,ALTERNATIVEJOBOPPORTUNITIESASWELLASJOBSTRESSWHENLOOKINGATVOLUNTARYTURNOVER,ITISIMPORTANTTOCONSIDERATTRACTIONSSUCHASAVAILABLEALTERNATIVESHOWEVER,VOLUNTARYEMPLOYEETURNOVERCANBEPREDICTEDANDINTURNBECONTROLLED212INVOLUNTARYTURNOVERINVOLUNTARYEMPLOYEETURNOVERACCORDINGTOBOOTHANDHAMER18ISADISCHARGETHATREFLECTSANEMPLOYER’SDECISIONTOTERMINATETHEEMPLOYMENTRELATIONSHIPGRIFFETH34REPORTEDTHATINVOLUNTARYEMPLOYEETURNOVERINCLUDESDEATH,RETIREMENTANDDISMISSALBOXALLANDPURCELL17FURTHEREXPLAINEDTHATTURNOVERINITIATEDBYANEMPLOYEESUCHASRESIGNINGTOTAKECAREOFATERMINALLYILLFAMILYMEMBERSHOULDALSOBECONSIDEREDASINVOLUNTARYTURNOVERSINCEITINVOLVESREASONSOVERWHICHTHEEMPLOYEEHASNOCONTROLCARMELLI21ALSODEFINESINVOLUNTARYTURNOVERASTHENEEDTOCUTCOSTS,DOWNSIZEORRESTRUCTUREDUETOREASONSWHICHAREINDEPENDENTOFTHEAFFECTEDEMPLOYEESTHISREPRESENTSADECISIONORCHOICEMADEBYTHEEMPLOYERCHIUANDFRANCESCO23THINKTHATTHEDISTINCTIONBETWEENVOLUNTARYANDINVOLUNTARYTURNOVERISIMPORTANTBUTNOTSTRAIGHTFORWARDEMPLOYEESLEAVINGORGANIZATIONSMAYWISHNOTTODISCLOSETHEREALREASONSFORLEAVINGASTHEYAREDEPENDENTONTHEORGANIZATIONFORFUTUREREFERENCE18,45213AVOIDABLEANDUNAVOIDABLETURNOVERBUHLER20REPORTEDTHATAVOIDABLETURNOVERRESULTSFROMLIFEDECISIONSTHATEXTENDBEYONDANEMPLOYER’SCONTROL,SUCHASADECISIONTOMOVETOANEWAREAORAJOBTRANSFERFORASPOUSEAVOIDABLETURNOVERISSOMETHINGORGANIZATIONSCANPREVENTBYHIRING,EVALUATINGANDMOTIVATING
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簡介:5100英文單詞,英文單詞,29萬英文字符,中文萬英文字符,中文8800字文獻出處文獻出處CHIDAMBARAMV,RAMACHANDRANAASTUDYONEFFICACYOFEMPLOYEETRAININGREVIEWOFLITERATUREJBUSINESSTHEORYPRACTICE,2012,133275282ASTUDYONEFFICACYOFEMPLOYEETRAININGREVIEWOFLITERATURECHIDAMBARAMVIJAYABANU,RAMACHANDRANAMUDHAABSTRACTTHESUCCESSOFANYORGANIZATIONDEPENDSONAPPROPRIATEUSEOFHUMANASSETSAVAILABLEINTHEORGANIZATIONALLOTHERASSETSCOULDONLYBESUPPLEMENTARYTOHUMANASSETSTOWARDSAUGMENTINGTHEHUMANRESOURCESANDTOCOPEWITHCHANGES–BOTHINTERNALANDEXTERNAL,THEORGANIZATIONHASTOCONCENTRATENECESSARILYONDEVELOPINGTHEABILITY,WISDOMANDSKILLSOFITSWORKFORCEFORTHEDEVELOPMENTOFHUMANASSET,‘TRAINING’BECOMESTHEBASETRAININGISATOOLTOATTAININDIVIDUAL,ORGANIZATIONALNEEDSRELATEDTOTHEJOBSUNDERTAKENANDISALSOINTENDEDTOIMPROVETHEWORKCULTUREOFTHEGROUPINVOLVEDINAGROUPTASKANIDEALTRAININGPROGRAMMECANBEEXPECTEDTOCHANGETHEATTITUDE,SKILLSANDDEVELOPFORWARDVISIONOFTHEPARTICIPANTSTOWARDSTHETASKTHISPAPERSUMMARIZESTHERESULTSOFTHELITERATUREREVIEWONTHEEFFECTIVENESSOFTRAININGPROGRAMMESOFEMPLOYEESFROMDIVERSEPERSPECTIVEKEYWORDSTRAINING,LEARNING,ORGANIZATION,GROUP,INDIVIDUAL,EFFECTIVENESS1INTRODUCTIONTHEWORKERSOREMPLOYEESWORKINGINORFORANORGANIZATIONARENOWBEINGCONSIDEREDAS‘HUMANASSETS’EVENTHOUGHDIFFERENTTERMSLIKE‘STAFF’,‘MANPOWER’,‘PERSONNEL’,ETCARESTILLINCURRENCYTHEEMERGINGTRENDISTOTREATTHEMAS‘HUMANASSETS’OR‘HUMANRESOURCES’THESUCCESSOFANYORGANIZATIONDEPENDSONAPPROPRIATEUSEOFHUMANASSETSAVAILABLEINTHEORGANIZATIONALLOTHERASSETSCOULDONLYBESUPPLEMENTARYTOHUMANASSETSTOWARDSAUGMENTINGTHEHUMANRESOURCESANDTOCOPEWITHCHANGES–BOTHINTERNALANDEXTERNAL,THEORGANIZATIONHASTOCONCENTRATENECESSARILYONDEVELOPINGTHEABILITY,WISDOMANDSKILLSOFITSWORKFORCETHETRAININGEFFECTIVENESSISDEPENDENTONTWOCONSIDERATIONS,1TRAINERSAREFULLYRESPONSIBLEFORTRAININGANDIFTHEEMPLOYEESDONOTSHOWRESULTS,THETRAINERSHOULDBEHELDACCOUNTABLE2TRAININGEFFECTIVENESSDEPENDSONTHEKINDOFATMOSPHEREANDCULTURETHATISPREVALENTBACKATHOMEMEHTA1970TRAININGPROGRAMMESSHOULDFOCUSONCORPORATEPLANNING,ORGANIZATIONALDEVELOPMENTANDPERSONNELMANAGEMENTSRINIVASAN1977CONSTANTCHANGESTAKEPLACEINTHEINTERNALANDEXTERNALLEVELSOFBUSINESSUNITSITISNECESSARYFORTHEORGANIZATIONTORESTRUCTUREANDREINFORCETHEHUMANASSETSTOADAPTITSELFTOCHANGESBUSINESSDOESNOTHAVEUNANIMOUSMETHODOLOGIESFOREVALUATIONANDITDEPENDSONSUITABILITYBIVAINIS,MORKVENAS2008ITISOFPARAMOUNTIMPORTANCETOANYORGANIZATIONTOSTRIVEFORTHEDEVELOPMENTOFITSEMPLOYEESASESTEEMEDMEMBERSOFTHEORGANIZATIONALMANAGEMENTTEAMFORTHEDEVELOPMENTOFHUMANASSET,‘TRAINING’BECOMESTHEBASETRAININGISATOOLTOATTAININDIVIDUAL,ORGANIZATIONALNEEDSRELATEDTOTHEJOBSUNDERTAKENANDISALSOINTENDEDTOIMPROVETHEWORKCULTUREOFTHEGROUPINVOLVEDINAGROUPTASKANIDEALTRAININGPROGRAMMECANBEEXPECTEDTOCHANGETHEATTITUDE,SKILLANDDEVELOPFORWARDVISIONOFTHEPARTICIPANTSTOWARDSTHETASKTHISPAPERSUMMARIZESTHERESULTSOFTHELITERATUREREVIEWONTHEEFFECTIVENESSOFTRAININGPROGRAMMESOFEMPLOYEESFROMDIVERSEPERSPECTIVEFOUNDTRAININGPROGRAMMESLESSEFFECTIVEWITHRESPECTTOTHEIRCONTRIBUTIONSTOJOBPERFORMANCE,THEYDIDENDORSETHEUSEFULNESSOFFORMALTRAININGMAHESWARI1981ASHIFTFROMKNOWLEDGETOATTITUDEISTHEMAINOBJECTIVEOFTRAININGANDIDENTIFIESTHREEAREASOFTRAININGTECHNICAL,SKILLSANDKNOWLEDGEHESUGGESTSTHATTHEEMPHASISONTHESETHREEMUSTVARYACCORDINGTOTHELEVELSOFTHEEMPLOYEESBHATIA1981ASTUDYONGRADUATEENGINEERINGTRAINEESINTHREELARGEPUBLICSECTORORGANIZATIONSFOUNDTHATTHETRAINEESPERCEIVEDBOTHTHEMETHODANDCONTENTSOFTHETRAININGASDEMOTIVATINGANDDISSATISFYINGAGARWAL1982TRAININGFORPERSONNELMANAGERSSHOULDBEDIRECTEDTOWARDSATTITUDESANDBELIEFSUNDERLYINGMANAGERIALPHILOSOPHYANDTHEIRINTERRELATEDNESSSETH1984THENEEDFORBEHAVIOURALINPUTSISVITALINANYTRAININGPROGRAMMEORGANIZEDFORSUPERVISORSGHOSH1984THESTUDYISEVALUATINGMANAGEMENTTRAININGANDDEVELOPMENTDEALSWITHPRETRAININGEVALUATIONTHESTUDYINCLUDESEVALUATIONOFTRAININGCONTEXT,INPUTEVALUATION,POSTTRAININGEVALUATION,TRANSFEROFLEARNINGANDJOBIMPROVEMENTTHESTUDYISSUGGESTEDFORJOBEVALUATIONASAFOLLOWUPAFTERSIXMONTHSTOONEYEARALLTHESEASPECTSHAVEBEENEVALUATEDFORTHEEXECUTIVESTRAININGPROGRAMMEORGANIZEDINTHE‘ADMINISTRATIVESTAFFCOLLEGE’,HYDERABAD,WHICHBRINGSOUTTHEIMPACTOFINSTITUTIONALPROGRAMMESVIRMANI,SETH1985TWOMODELSHAVEBEENSUGGESTEDTOEVALUATETRAININGEFFECTIVENESSFIRSTISTHEEXPECTATIONACHIEVEMENTMODELCONSISTINGOFMATCHINGPOSTTRAININGACHIEVEMENTWITHPRETRAININGEXPECTATIONOFTHEBOSS,PEERS,THESUBORDINATESANDTRAINEEHIMSELFTHESECONDISTHEEXPERIMENTALCONTROLGROUPMODELWHEREAGROUPOFEMPLOYEESWHOHAVEGONETHROUGHTRAININGISCOMPAREDINTERMSOFTHEIRPERFORMANCEWITHTHOSEWHOHAVENOTSIKKA1985THEDATAHAVEBEENCOLLECTEDFROM119MANAGERSINTHESTEELINDUSTRYWHOHADATTENDEDTRAININGINACOMPANYOREXTERNALTRAININGPROGRAMMESAQUESTIONNAIREHASBEENADMINISTEREDANDRESPONSESARETALLIEDMOSTRESPONDENTSWEREFOUNDTOBESATISFIEDWITHTHEINSTRUCTORS,THESIZEOFTRAININGGROUP,THETRAININGDURATION,THEREADINGMATERIALANDTHETRAININGEQUIPMENTTHEYALLTHOUGHTTHATTHEENVIRONMENTDIDHELPINCARRYINGOUTSOMEOFTHELEARNINGTHATTOOKPLACEDURINGTRAININGJAIN1985INTHEWORKEVALUATIONMETHODOLOGYFORTRAININGBASEDONVARIOUSRESEARCHFINDINGSOFFOODANDAGRICULTURALORGANIZATIONSOFUNITEDNATIONS,RECOMMENDEDSYSTEMATICEVALUATIONFOR‘AGRICULTURALTRAINING’PROGRAMMESISORGANIZEDBYAGRICULTUREEXTENSIONAGENCIESANDHRAPRADESHSTATEELECTRICITYBOARDEVALUATEDPARTICULARLYGROWTH,ORGANIZATIONSTRUCTUREANDPROBLEMSINACHIEVINGMANAGERIALPERFORMANCEITHASBROUGHTOUTOBJECTIVESOFTRAININGANDCOURSECONTENT,METHODFOLLOWEDFOREFFECTIVETRAININGINSERVICEUNDERTAKINGBHATNAGAR1987HUMANRESOURCEDEVELOPMENTINPUBLICENTERPRISEDEALTWITHACONCEPTUALANALYSISOFHUMANRESOURCEDEVELOPMENT,ORGANIZATIONALDEVELOPMENT,PERFORMANCEAPPRAISALANDCARRIERDEVELOPMENTOFSTEELAUTHORITYOFINDIALIMITEDBANSAL1991INTHESTUDYONHRDPRACTICESININDIANINDUSTRIESACOMPARATIVESTUDYOFBHELANDNATIONALFERTILIZERSLIMITEDWASMADEWITHVARIOUSHUMANRESOURCEDEVELOPMENTCONCEPTS,OBJECTIVESANDPRACTICESANDCONSIDEREDTRAININGASASUBSYSTEMJAIN1996THEPREVIOUSSTUDIESBASEDONINSTITUTIONALTRAININGPROGRAMMESDONOTEVALUATEHOWTHEYBENEFITTOTHEINDUSTRIESCONCERNEDTHEINSTITUTIONALTRAININGPROGRAMMESDONOTCONCENTRATEONFUTURENEEDSOFINDIVIDUALORGANIZATIONS,WHICHVARYINENVIRONMENTANDPRODUCTIONPROCESSSO,THEENVIRONMENTALCONDITIONAMONGTHECENTERSOFLEARNINGANDAPPLICATIONSOFLEARNINGARENOTHOMOGENEOUSFURTHER,THEIMPACTOFTRAININGDEPENDSONTHECALIBEROFTHEPARTICIPANTS,WHICHVARIESFROMINDIVIDUALTOINDIVIDUAL
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