ACRN Journal of Entrepreneurship Perspectives
Vol. 3, Issue 1, Jan. 2014, ISSN 2224-9729
TABLE OF CONTENTS 
A MANAGEMENT CONTROL PERSPECTIVE OF SUSTAINABILITY REPORTING IN HIGHER EDUCATION: IN SEARCH OF A HOLISTIC VIEWK. Ceulemans 1,3, D. Van Caillie 2, I. Molderez 1, L. Van Liedekerke 3
1 Katholieke Universiteit Leuven, Centre for Economics and Corporate Sustainability (CEDON), Warmoesberg 26, B-1000 Brussels, Belgium
2 Université de Liège, Centre d’Etude de la Performance des Entreprises (CEPE), Rue Louvrex 14, B-4000 Liège, Belgium
3 Katholieke Universiteit Leuven, Centre for Economics and Ethics (CEE), Naamsestraat 69, B-3000 Leuven, Belgium
Abstract. Higher education institutions have been actively attempting to integrate sustainability in their curricula, research, operations, and outreach activities over the last decades. Despite the efforts undertaken, it is currently still challenging for their stakeholders to assess an institution’s sustainability-related activities and the extent of their implementation within the different activities of higher education. Since sustainability reporting in higher education is currently still in its early stages, and because a systemic approach to sustainability integration in higher education is often lacking, this paper researches possible contributions of management control to sustainability reporting and the sustainability integration process in higher education. The paper adheres to a management control approach by applying Simons’ (1995) Levers of Control framework to the field of sustainability in higher education, in search for a framework for integrating sustainability on a strategic level into higher education. The research stresses the need for a holistic approach, including the four types of controls, and for further in-depth study into how sustainability reporting is used in higher education in relation to strategy, in order to assess its potential for organisational learning.
Keywords: Management control, levers of control framework, sustainability in higher education, sustainability reporting, social responsibility, performance management, management control systems.
USE THE RIGHT STRATEGY AND GROWGadaf Rexhepi 1
1 University of Macedonia
Abstract. Selecting the right strategy in the right moment usually can become the best competitive advantage that an enterprise can gain. The purpose of the paper is to achieve this competitive advantage, through understanding the strategy and selecting the right growth strategies typical for different phase of life cycle in which their enterprise is at the moment. In the paper, are presented the growth strategies that small and medium enterprises can gain when it is in the growth stage by using theoretical and practical research. Empirical data which came as a result of 95 enterprises which operate in the growth phase in Macedonia showed that hybrid strategy tends to be the better strategy that enterprises can select when they operate in the growth phase.
Keywords: Entrepreneurial commitment, entrepreneurial motivation, entrepreneurial success, entrepreneurial performance.
“OLD FASHIONED, YET ADMIRABLE”REVISITING BLOOM TO REVOLUTIONIZE BOARD GAMING IN OUR ENTREPRENEURSHIP CLASSROOMS
Rahayu Tasnim 1 and Salleh Yahya 2
1 Faculty of Technology Management and Entrepreneurship, Corresponding author
2 Universiti Teknikal Malaysia Melaka, Jalan Hang Tuah, 73500 Melaka, Malaysia
Abstract: Our paper melds two streams of knowledge, entrepreneurship education and gaming, via Bloom’s Revised Taxonomy of Educational Objectives to develop a conceptual model for board game development. The conceptual development of the board game is specifically tailored for teaching the theories and competencies required for the establishment, survival and growth stages in the entrepreneurial venture process. We began with a discussion on the critical success factors of a board game, focusing mainly on why people appreciate certain board games than the rest. Discussion follows with an overview of Bloom’s and colleagues’ seminal works on learning theories, leading us to hypothetically propose the use of the Taxonomy Table as part of effective game development. Lastly, the importance of identifying the level of objectives of the prospective game is detailed to allow for a more comprehensive planning across a continuum. We conclude with a conceptual model of effective board game development and the prospects of board gaming in our classrooms.
Keywords: Entrepreneurship Education, Board Game Learning, Game-Based Learning, Entrepreneurial Learning, Educational Objectives, Taxonomy Table
ISLAMIC BANKING CHALLENGES LIE IN THE GROWTH OF ISLAMIC ECONOMY DESPITE OF THE FREE INTEREST LOANS POLICY: EVIDENCES FROM SUPPORT VECTOR MACHINE APPROACH Nesrin Benhayoun 1, Ikram Chairi 1, Amina El Gonnouni 1, Abdelouahid Lyhyaoui 1
1Laboratory of Innovative Technologies, Abdelmaklek Essaadi University, Tangier 90000, Morocco
Abstract: The last decade has seen an unprecedented growth in the practice of Islamic banking and finance which has now been recognized as a viable alternative and hopefully it will be the only financial system needed to get out from the current crisis, with the expectation that it will play an increasingly more important role in the years to come; as such, the appeal of this type of finance stems mainly from its underlying fundamental concept of justice as well as from the sharing of risk and prohibition of interest. We intend in this paper to examine the practice of Islamic Finance and its impact on the financial health of companies. Given that a company forms a micro financial system, its good financial health contributes to building a powerful economic engine; this is why we have a greater focus on companies’ financial situation, especially the company's debt situation.Therefore, we have, over 3 years (2009-2011), selected a sample of 20 firms with considerable conventional bank loans. We have also extracted about 40 financial indicators impacting their debt situation in order to set up an intelligent financial solution to measure the impact of interest on the firm’s solvency.Using Linear regression Model and Support Vector Machine Model (SVM), we have proved the high-impact of interest loans on the financial behavior of companies, and we have concluded through our SVM prediction model that interest loans can highly increase unexpected financial crises.
Keywords: Islamic Finance, Ethical Finance, Challenge, Financial crisis, Support Vector Machine, Linear Regression Model.
SOX Section 404 – Costs, benefits and earnings managementBianca Fischer 1, Bernadette Gral 1
1 Controlling, Accounting and Finance at University of Applied Science, Upper Austria
Abstract: Some issues of the Sarbanes Oxley Act of 2002 are still discussed controversially in literature. Thereof, Section 404 concerning internal control over financial reporting is one of the most criticized parts. This article focuses on costs and benefits of the section and impacts on earnings management. Most authors agree that compliance costs of Section 404 far outweigh its benefits. However, long-term benefits are expected. Regarding earnings management, studies show that the section has positive effects such as increased earnings quality and improved internal control systems. Although the section is heavily debated in literature, there is consensus that SOX Section 404 greatly contributed to the improvement of quality of financial reporting and of corporate governance as a whole.
Keywords: Sarbanes Oxley, Section 404, internal control, costs of SOX, benefits of SOX, earnings management, earnings quality