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Poor payment discipline has been a constant problem faced by European companies and has only deteriorated with the current global economic crisis. Even though new legislation has been adopted several times on the European level, the situation has not changed in favor of improved payment discipline. This research aims to determine the correlation between ethical culture of the company and how it influences its payments.

The factor structure of Kaptein’s (2008) instrument for measuring ethical culture was analyzed using principal component analysis with varimax rotation. This factor analysis yielded six factors with eigenvalues over 1.00. The reliabilities of the single constructs were as follows: clarity (α = 0.891), feasibility (α = 0.918), discussability (α = 0.955), supportability (α = 0.956), sanctionability (α = 0.879) and transparency (α = 0.801). These six factors explained 78 per cent of the total variance. All six factors were named according to Kaptein’s (2008) proposal, whose factor analysis yielded, in addition to the six factors, the following two factors: “Congruence of supervisors” and “Congruence of management”. Both factors represent the ethical culture dimension that Kaptein (1998) called “Congruence”, which refers to the extent to which superiors’ and managers’ acts are in line with their ethics on the declarative level.

The results showed that two dimensions of ethical culture, sanctionability and feasibility, improve payment discipline.

The results of this study provide an important link between ethical culture and late payments. However, the research has some limitations. The first limitation is the response rate of only 9.1 per cent. The next limitation is geographical location; the results in other European countries could be different. The third limitation of the research arises from the data collection, because ethical culture was evaluated by one person from each enterprise, and the average payment delay was also calculated based only on a sample of invoices. Future research should therefore attempt to confirm the correlation between ethical culture and payment discipline in other European countries. It would be interesting to compare finds among different European countries, to determine whether there are major differences among companies in the field of payment discipline.

Good payment discipline can be defined as settling obligations to the customer on time. Late payments have been one of the biggest problems in many European economies. Trade credit becomes even more important during economic crises (Guariglia and Mateut, 2006), when investments are in decline, trading volume is reduced, bank credit is harder to obtain and interest rates are increased (Vojinović et al., 2013; Lin and Martin, 2010). Because customers do not fulfill their obligations on time, even enterprises with healthy sales growth encounter cash flow problems (Tsai, 2011). This paper’s empirical research has been implemented in Slovenia because it has some of the worst payment disciplines among European countries. Such research is unique in Slovenia as well as wider.

Traces the development of personnel management in Britain over four distinct periods from the late nineteenth century onwards, and identifies the economic, political, social and institutional forces in the growth of the function. Builds up a detailed profile of the personnel practitioner, covering demographic and remunerative data, qualifications, time spending and status in the enterprise. Critically discusses the role of the professional association and its occupational models. Finally examines the conceptual and operational distinctions between personnel management and human resource management in the British context.

The phenomenon of delayed payment to contractors, particularly in the construction industry, is a vital one and has implications for the health of economies of both developing and developed countries. However, the knowledge of this phenomenon seems patchy and scattered. This paper aims to provide a comprehensive overview of the knowledge on the subject matter with directions for future research.

A systematic literature review coupled with a scientometric analysis was used to identify the main strands of delayed payment to contractor research as a basis for qualitative analysis and directions for future investigations.

Current trends of delayed payment to contractor research are categorised into five broad themes, namely: causes, effects, mitigation measures, ethical and law and regulatory issues. On the basis of these themes, directions for future research are proffered.

To the best of the authors knowledge, this is the first attempt at providing a comprehensive and an integrated knowledge on delayed payment to contractor research with pointers for further investigation and policy directions.

The purpose of this paper is to investigate a deposit insurance program for household deposits, which is designed to act as safety net in order to minimize or eliminate the risk of loss of depositors' funds with banks represents a primary element of this reform.

This research paper is scientific investigation aimed at discovering and interpreting facts related to deposit insurance system in Azeri context. The goal of the research process is to produce new knowledge, through the exploratory research, which structures and identifies new problems, and the constructive research, which develops solutions to a problem.

The main finding is that the deposit insurance system in Azeri context as well everywhere provides for the security of funds in the event of bank failure and, thus, contributes substantially to the stability of the financial system in Azerbaijan. The deposit insurance system supports the smooth functioning of the payment system and the credit mechanisms and facilitates the exit of problem banks.

As a result of this research paper some changes may be made in local legislation in order to defend the depositor's rights in the most effective way in the case of bank failures.

The originality of this paper is that it for the first time describes the deposit insurance system of the Republic of Azerbaijan, its advantages and disadvantages. The paper is addressed to the international business community, particularly those involved in all aspects of banking and deposit insurance law.

This chapter is devoted to the issue of ensuring financial stability in the state. The main goal of the research is to determine the role and policy of the National (Central) Bank, which was called up, together with the Government, to ensure financial stability in the Republic of Belarus. The actions of the National Bank for the implementation of monetary policy, macroprudential regulation, and supervision are reviewed. It is noted that the regulation and supervision of banks, nonbank credit and financial organizations, the payment system, the sector of other financial intermediaries (leasing activities, microfinance activities, activities of forex companies) is carried out by the National Bank of the Republic of Belarus. The main practical actions of the Government and the National Bank aimed at maintaining and ensuring financial stability is highlighted: monitoring of financial stability (goals, tasks, objects, monitoring directions are defined); creation of the Financial Stability Board (goals, objectives, representation, personal responsibility); disclosure of information on financial stability is carried out on an ongoing basis – the publication of the analytical review “Financial Stability in the Republic of Belarus.” The research provided a summary of the state of the country's financial sector and presented the achievements of the National Bank and state institutions for ensuring financial stability. The main problems affecting financial stability are highlighted: insufficient efficiency of the activities of large enterprises of the real sector of the economy; high levels of credit risk in banks; high dollarization of bank balance sheets. The directions of development of the financial market of the Republic of Belarus, contributing to ensuring financial stability are presented.

AT the request of the Director‐General of the International Labour Office Mr. Petre Lupu, Rumania's Minister of Labour, has described the benefits brought to his country through setting up a Management Development Centre.

The objective was to increase earnings of the city of Prievidza from waste disposal fee by proactive communication – reminder (a letter) and leaflets with targeted framing. The quasi-experiment aims to find out which type of leaflet framing (an injunctive social norm or public good) causes the most effective change in the debtors' behaviour.

The article presents the results of a behavioural quasi-experiment, carried out on a local government level. The effectiveness of the intervention was tested in a quasi-experiment with the sample size 712, which is 35% of all waste disposal fee debtors in Prievidza.

The intervention that has proven to be the most effective was a reminder together with an injunctive social norm leaflet. It resulted in a 1.7 times higher probability for the debt to be paid. The results also indicate that a reminder is significantly more effective if targeted at debtors who only owe one payment–this group was three times more likely to pay their debt after being exposed to the intervention.

Public policy recommendation is to primarily target the group of debtors who owe one payment.

Another testing and replication of this experiment design is highly important. Nonetheless, the first testing (field quasi-experiment) shows the potential of using the notification as well as social norm framing. It also appears that self-governments should use notifications to primarily address debtors without a long history of non-payment.

The functioning of the international monetary system as institutionalised under the Articles of Agreement of the International Monetary Fund after World War II began to deteriorate after 1957. By that date many European countries had sufficiently recovered or improved their competitive positions in world markets to enable them to replenish their external reserves and make their currencies convertible. Up to that point their acquisitions of gold and US dollars must be viewed as a healthy redistribution of international reserves, But thereafter dollar surpluses replaced the alleged dollar shortages of earlier years on international markets. Recurring runs on the dollar appeared, vying with the periodic runs on sterling as threats to the stability of the system.

The purpose of this paper is to explore the data available and their use by Kenyan secondary school teachers and head teachers.

Using a qualitative case study design, this study utilised interviews and documentary evidence to explore the data available and their use within Kenyan schools.

The data available in Kenyan schools were similar except for context data which had slight variations between schools. Head teachers mainly used school-level data to monitor school functioning, plan and develop school-level policies which mainly focused on school and curriculum improvement but little on teacher improvement. Teacher improvement attempts were mostly via benchmarking. The results also show that Kenyan head teachers hide inspection reports from teachers and that some head teachers used data creatively than others. For example, one head teacher used data to start a feeding programme to support economically disadvantaged students. Teachers, however, mostly used classroom-level data to plan lessons and monitor students’ progress.

The study results may be used for data use comparative studies between developing and developed countries.

Based on the findings, data use training is needed to help Kenyan schools use data to improve teachers and teaching.

Accountability and data use are at the centre of many school improvement efforts the world over. The last two decades, for example, show pressure on schools to account for the resources invested and for the education they provide to children mainly in the form of data. Regrettably, studies pay little attention to data use in schools within developing countries such as Kenya.

The research aims to find and highlight the process, procedures, and practices at AirAsia that deem to fit the characteristics of simplicity and discipline in the original model for creating value in the forms of lower operations costs, which ultimately translates into lower ticket price for Airasia's customers.

A case study method is used in this study. It is appropriate as; the model has not been applied to a service organization. In exploring the concept of simplicity and discipline and how they create values, at a set of the best practices and procedures utilized by AirAsia are being scrutinized. Four employees at the executive and managerial level were interviewed. The author spent approximately two hours with the senior manager of Network Management Centre as all operations fall under his jurisdiction. Besides him, this study also took information from a technical service manager and two executives. The information collected from the staff is complementary to each other, ensuring the internal validity of the method. The secondary information was taken primarily from AirAsia's website: AirAsia.com.

It is suggested that excellent practices and procedures done at Airasia characterize both concepts of simplicity and discipline, which in return help AsiaAsia in creating value for its customers. For example, the company decision to use one type of aircraft ensures its easy maintenance and training of staffs. The use of IT at the company helps the company plan the unplanned changes. The clever use of IT has enabled the control filter, as specified by Correa and Gianesi to function properly. It simplifies the booking, sales and checking-in procedures. Furthermore, the company has locked a partnership with its IT vendors for mutual benefits where AirAsia can constantly improve their system while the IT vendor learns to create innovative products according to customer requirements.

The result does not indicate that that Airasia's operational success is due to these concepts. Rather this article suggests that the concepts of simplicity and discipline, as proven to be successfully applied to manufacturing sector, could also be potentially applied to service organizations to helps firms create value, in this company in the form of low price ticket for affordable travel.

Managers in a similar service industry could use the principles and practices proposed to potentially enhance its operations flexibility.

This research is important as for one to understand the main topics of operations flexibility in services sector.