286 10 3494 https://omeka.ibu.edu.ba/files/original/3f29590e16b65e78ecc94f28787b6e23.pdf 038f3557dfbf1ff404d009d299c32189 PDF Text Text 3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo Spreitzer, G. M. (1992). When organizations dare: The dynamics of psychological empowerment in the workplace. UMI Microform Number 3011067. Ann Arbor: Bell & Howell Information and Learning Company Spreitzer, G. M. (1995a). An empirical test of a comprehensive model of intrapersonal empowerment in the workplace. American Journal of Community Psychology, 23 (5): 601629. Spreitzer, G. M. (1995b). Psychological empowerment in the workplace: Dimension, measurement, and validation. Academy of Management Journal, 38(5): 1442-1465. Spreitzer, G.M., & Mishra, A.K. 1997. Giving up control without losing control: Trust and its substitutes’ effects on managers’ involving employees in decision making. Group and Organization Management, 24(2): 155-187. Tabachnick, B.G., & Fidell, L.S. (2001). Using multivariate statistics (4th edn.). Boston: Allyn and Bacon. Thomas, K. W. & Velthouse, B. A. 1990. Cognitive elements of empowerment: An "interpretive" model of intrinsic task motivation. Academy of Management Review, 15: 666681. The Impact Of Information Technology On Human Resource Practices And Competencies Ömer Faruk Ünal1, Mehmet Mete2 1Süleyman Demirel University FEAS Social Work Department 2Dicle University FEAS Department of Management E-mails: omerunal@sdu.edu.tr, mehmetmete@hotmail.com Abstract Information Technology (IT) as a structural factor and instrument transforms architect of organizations, business processes and communication, and is increasingly integrated into human resource management (HRM). While IT has impacts on human resource (HR), at the same time managers, employees, customers and suppliers increase their expectancies for HR functions. The importance of knowledge and human capital make extra suppression on HR functions and new competencies for HR professionals are expected. In this research, the impacts of Information Technology (IT) on HR practices and competencies of HR professionals are studied. 248 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo 1. Human Resource and Information Technology IT assists HR professionals in the delivery of services and affects all HR practices (Hendrickson, 2003: 381-394). Each IT tool can be used by different HR functions. For example, web data bases are used for learning at work, decision making and completing works (Benson et al. 2002: 392-404). 1.1. Human Resource Information System (HRIS) HRM generally uses IT as HRIS. HRIS is an integrated system acquiring and storing data used to make analysis, make decisions in the field of HR (Hendrickson, 2003: 381-394; Luck, 2010). A contemporary HRIS is a dynamic data base about employees’ performance and demographic information. HRIS provides information about employees’ data, employment, application requirement, job characteristics, selection and staffing, procedures of employment, corporate structure, professional and individual improvement, education costs, performance appraisal, personnel planning, organizing ect. And these data are used for many purposes simple or complex (Lippert and Swiercz, 2005, 340–353; Bernik et al. 2007:130133). 1.2. Electronic Human Resource Management (eHRM) eHRM is an IT application for supporting or connecting at least two people or collective actors in participating HR activities (Strohmeier, 2007, 19–37). Today, HRIS is accessible (distance access applications, system intervention, upgrading) for users trough internet (www. comparehris.com/HRIS-overview/). In other word, eHR(M) is a HRIS which HR personnel, managers and other employees access via internet or intranet. 2. Benefits of Information Technology Technology affects organizations and work relations in organizations by enabling to access information and to join people electronically (Ulrich, 1997, 175-179). With new processes and providing some benefits HRIS changes traditional HR processes and it is expected that HRIS will provide functionality for realization of units’ objectives and goals (Hendrickson, 2003: 381-394). Cost decrease: Effects of IT on HR costs appear in several ways. First, IT reduces costs of processes and works. For example, transforming from traditional HR to eHR reduces costs of some HR applications, such as, postal cost, announcement cost and data processing cost (Lin, 2011, 235–257; Hendrickson, 2003: 381-394). Using self service technology reduces the processing costs of HR up to 75%. E-selections and e-recruiting decrease costs of staffing and selections due to reduced employee turnover, reduced staffing costs, and increased hiring efficiency (Strohmeier, 2007, 19–37). Second, using self service HR allows employees to 249 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo perform their own work themselves directly. Thus, HR professionals spend less time on routine tasks (Baloh and Trkman, 2003: 498-505). Saving Time: IT allows HR professionals to spent less time on routine tasks (Gardner et al. 2003: 159–179) and make easier to acquire and analyze information (Bell et al. 2003). For example, researches show that recruiting process shortens twelve days (Baloh and Trkman, 2003: 498-505). Increase in Efficiency: Intense use of IT aromatizes and standardizes routines. HR professionals may focus less on administrative activities and more on interpreting information. HR professionals may spend more time on other aspects of their jobs. Thus, HR professional can access more information, respond the problems in a timely major from managers and employees and evaluate the complex information more effectively (Gardner et al. 2003: 159-179). Comparing with manual processes, reducing data errors, simplifying and fastening processes of HR practices make HRIS more advantageous (Ulrich et al. 2008: 829850; Hendrickson, 2003: 381-394). Enabling communication and collaboration: IT is a tool for effective communication and collaboration. E-mail, messaging, discussion lists, videoconferencing, virtual teams, electronic workgroups, and teleworking have changed the nature of workplace communication and collaboration. These make workplace interactions possible for employees even they are not physically present in the workplace. (Benson et al. 2002: 392-404). IT improves the skills of workers for collaborating, accessing information and decision making (Tafti, 2009). Participative decision making becomes an organization-wide activity. Internet and web based technologies facilitate sharing of decision making responsibility through the organization hierarchy and structure (Benson et al. 2002: 392-404). HRIS as an integrated system also increases the capacity of reporting in the organization. (Dessler, 2008:129). Competency Management: IT tools enable HR professionals both to reach larger candidate pool and make decision making more objective and effective to employ more relevant and competent candidates by means of decision making techniques in the selection and recruiting process. Improving and shortening the recruiting process increases competencies of incumbents and as a result quality of works. At the same time, because of distance access eHR can be used to develop human capital of the organization effectively (Lin, 2011, 235– 257). Knowledge Management: Knowledge management is a systematic process of acquiring, creating, capturing, synthesizing, learning, and using information, insights, and experiences to enhance decision making (Ardichvili, 2002: 451-463). Knowledge management system is a natural extension of HRIS and HR development activities (Hendrickson, 2003: 381-394). HR professionals should integrate traditional HR functions into knowledge management (Hendrickson, 2003: 381-394). Because organizations should acquire and manage organizational knowledge to prevent knowledge looses when employees leave the job. 250 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo Using IT tools such as intranet, virtual collaborations, data storage and data mining can improve skills for knowledge acquisition and distributions (Ardichvili, 2002: 451-463). Knowledge Management tools also facilitate knowledge participation and empower the specific task areas (Tafti, 2009). IT assists HR professionals to access and disseminate information more efficiently (Gardner et al. 2003: 159-179) Structuring Strategic HR: Strategic role of HR focuses on aligning HR activities with HR strategies (Conner and Ulrich, 1996: 38-49). So, HR should work with managers and line managers in collaborations (Ulrich, 1998: 124-134). IT is accepted as an important impetus for strategic HR. IT builds stronger HR units and allows HR to engage in more significant strategic roles. IT solutions free HR from the burden of routine administrative tasks (Haines III and Lafleur, 2008: 525-540). If HR professionals rely on IT, they hold a more strategic role. Because they will have time to interpret information, develop strategies and think about corporal transformation (Gardner et al. 2003: 159-179). 3. New Processes supported by IT Adaptation of IT in HR functions has created new HR processes. These applications are elearning, virtual recruitment, self service HR and portal technologies and new types of working. e-learning: e-training, e-learning (Strohmeier, 2007, 19–37) or web based training is a growing HR application (Hendrickson, 2003: 381-394). IT tools can be used for formal and informal education activities. e-mail, mail lists, dash boards, message systems, web pages, online courses, and media applications are some of BT tools which support learning in workplace (Benson et al. 2002: 392-404). Virtual recruitment: Web based recruitment; virtual interview, CV searching, online psychological test and online job announcements have changed and fastened the recruitment process. These applications also removed the potential obstacles to reach larger candidate pool (Hendrickson, 2003: 381-394; Gardner et al. 2003: 159-179). Self Service HR and portal applications: Employees can perform some of their own HR activities by means of accessing HRIS. This is called self service HR. Self service applications can include 60 percent of all HR activities (Ulrich et al. 2008: 829-850). Employees who use self-services can easily update and verify personal information, have information about internal job vacancies, access corporate handbooks, and receive notices about training programs. Managers can analyze candidate profiles, construct salary models, view benefits programs and monitor absentee trends. Moreover, performance appraisal and career development can be managed (Lippert and Swiercz, 2005, 340–353). This also increases perceived quality of supplied HR services (Ulrich et al. 2008: 829-850). HR portals are complex information technology tools (Ruta, 2005: 35-53). HR portals give the chance for each individual user to arrange or customize his or her own portal according to his or her own job responsibility or preferences (Hendrickson, 2003: 381-394). 251 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo New types of working: Development in information and communication technologies created some new types of working such as teleworking and project based works. Teleworking as a concept changes the accepted geography of work. That means “moving the work to workers instead of moving the workers to work”. By means of IT tools efficient collection of people with similar interest and complementary skills, and their cooperation in short or long-term projects are possible. Teleworking offers significant advantages: higher productivity, lower absenteeism, more satisfaction and lower turnover rate (Baloh and Trkman, 2003: 498-505). 4. Human Resource Competencies Competencies are defined as an individual’s demonstrated knowledge, skills or abilities (Ulrich et al. 1995: 473-495). Competencies are personal characteristics about people; who they are, what they know and what they do, or personal characteristics cause superior performance (Yeung, 1996: 119-131). Dynamic trends in the external business environment that companies face, and nature of HR demand that HR professionals develop new capabilities and competencies (Quinn and Brockbank, 2006: 477-494). In this context development of technologies in work place, internet and web based IT have very important impact on HR professionals and affects their functions and activities (Benson et al. 2002: 392-404). To respond new role expectations HR professionals must learn and develop new skills (Gardner et al. 2003: 159–179). Technological Competencies: Computer literacy became a prerequisite job skill in HR. Organizations want HR professional to keep up with development in HRIS and to effectively implement and manage HR information technology (Kaufman, 1996: 540-548). So HR professionals need to learn new skills in areas of IT that they do not already have. (Gardner et al. 2003: 159–179). These are necessities to challenge in the dynamic and competitive environment (Lin, 2011, 235–257; Meisinger, 2005: 189-194). HR professionals use IT for acquiring data and must have competencies to transform these data into strategically valuable knowledge. HR professional should determine technology needs, mange technology supplier and mobilize technology to evaluate and support HR functions (Bell et al. 2003). According to Schoonover HR professional should not relay on IT departments to purchase technologies (Schoonover, 2003). Because, IT experts may focus on technology design and application rather than business success (Ulrich et al. 2008: 829-850). Leveraging technology HR professional should use web based/eHR to add value effectively to organizations (Ulrich, 1997: 175-197; Brockbank et al. 2003). Business knowledge: eHR plays an important role for HR professionals to focus on strategic partnership (Bell et al. 2003). Some HR professional can be unsuccessful to adopt technology to business although they know HR technology. (Ulrich et al. 1995: 473-495). So in order to be an important player in organizations and add value for organizations HR professionals must understand the business, industry and business strategies. They need to know about finance, marketing, supply chain management, manufacturing, logistic, customers, 252 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo competitors, financial markets and globalization (Quinn and Brockbank, 2006: 477-494). The competencies of HR professionals in business do not necessitate the ability to do all the business functions, but the ability of understanding businesses (Ulrich at al., 1995: 473-495). Change management: Adaptation of new IT in firms changes corporal routines, business processes and business habits (Tafti, 2009). If HR professionals have the competencies of change management they can help organization members to manage change and add value to their organization (Ulrich et al. 1995: 473-495). For example, HR professionals must manage cultural transformation to support self service HR system in the organizations (Bell et al. 2003). 5. Evaluation Beside IT is an important instrument for realizations of HR functions, widely use of IT in the HR functions affects HR management in many aspects. Traditional HR functions: Use of IT within the HR functions increases effectiveness and efficiency of HR practices, decreases time and costs. Moreover, IT facilitates distributions of information along the organizational hierarchy, it empowers organizational decision making and knowledge management. New HR process: Self service HR, e-learning and e-recruiting are new processes. These are possible only with IT tools. These new processes regarding effectiveness, efficiency and cost create more value than traditional HR processes do for the organization New types of working: Widely use of IT in the business creates new types of works such as teleworking and web based project contracts. Strategic impact: IT is a very important force for the transformation of HR functions. IT decrease transactional burden on the HR functions. So HR professionals devote more time for the strategic issues to be a strategic partner. New Competencies: Transforming HR management from administrative functions to strategic focus defines new competencies of successful HR professionals. These competencies are business knowledge, change management and technological competencies. HR professionals can be unsuccessful in adaptation of IT in business although they know about technology. In order to be an important player in an organization and to create value for the organization HR professionals need to know about business and its environment. Adaptation of IT also changes the routines, business processes and work habits. So HR professionals need to have the competencies of change management. HR mangers need also new competencies on IT and more knowledge on facilities of IT before they had in the past. As a result, applications of IT in the HR functions both affect HR practices and make HR professionals develop new competencies. REFERENCES 253 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo Ardichvili, A. (2002) Knowledge Management, Human Resource Development, and Internet Technology, Advances in Developing Human Resources, 4/4, 451-463. Baloh, P. and Trkman, P. (2003) Influence of Internet and Information Technology on Work and Human Resource Management, Informing Science, June, 498-505. Bell, B.S., Lee, S.W. and Young, S.K. (2006) The Impact of eHR on Professional Competence in HRM: Implications for the Development of HR Professionals, Working Paper Series, Cornell University School of Industrial and Labor Relations Center for Advances Human Resource Studies, http://digitalcommons.ilr.cornell. edu/cgi/viewcontent. cgi?article=1402&context=cahrswp, (05. 06. 2010). Benson, A.D., Johnson, S.D. and Kuchinke, K.P. (2002) The Use of Technology in the Digital Workplace: A Framework for Human Resource Development, Advances in Developing Human Resources, 4/4, 392-404. Bernik, M., Florjancic, J., Crnigoj, D. and Bernik, I. (2007) Using Information Technology for Human Resource Management Decisions, Proceedings of the 8th WSEAS Int. Conference on Mathematics and Computers in Business and Economics, Vancouver, Canada, June 19-21, 130-133. Brockbank, W. Ulrich, D. and Yakanich, D. (2003) The New HR Agenda: 2002 Human Resource Competency Study (HRCS) Executive Summary, http://webuser.bus.umich. edu/Programs/hrcs/HRCS2002ExecutiveSummary. pdf, (11. 27. 2010) Conner, J. and Ulrich, D. (1996) Human Resource Roles: Creating Value, Not Rhetoric, Human Resource Planning, 19/3, 38-49. Dessler, G. (2008) Human Resource Management, Pearson Prentice Hall, New Jersey. Gardner, S.D., Lepak, D.P. and Bartol, K.M. (2003) Virtual HR: The Impact of Information Technology on the Human Resource Professional, Journal of Vocational Behavior, 63/2, 159179. Haines III, V.Y. and Lafleur, G. (2008) Information Technology Usage and Human Resource Roles and Effectiveness, Human Resource Management, 47/3, 525-540. Hendrickson, A. R. (2003) Human Resource Information Systems: Backbone Technology of Contemporary Human Resources, Journal of Labor Research, 24/3, 381-394. Kaufman, B. E. (1996) Transformation of the Corporate HR/IR Function: Implications for University Programs, Labor Law Journal, August, 540-548. Lin, L. H. (2011) Electronic Human Resource Management and Organizational Innovation: the Roles of Information Technology and Virtual Organizational Structure, The International Journal of Human Resource Management, 22/2, 235–257. Lippert, S.K. and Swiercz, P.M. (2005) Human Resource Information Systems (HRIS) and technology trust, Journal of Information Science, 31/5, 340-353. 254 �3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo Luck, B. (2010) Innovation of Technology: Business for a New Century, www. scribd. com/doc/27947709/Innovation-of-Technology-in-Business-Slides, (01. 01. 2012). Meisinger, S.R. (2005) The Four Cs of the HR Profession: Being Competent, Curious, Courageous, and Caring About People, Human Resource Management, 44/2, 189-194. Quinn, R.W. and Brockbank, W. (2006) The Development of Strategic Human Resource Professionals at BEA System, Human Resource Management, 45/3, 477-494. Ruta, C. D. (2005), The Application of Change Management Theory to HR Portal Implementation in Subsidiaries of Multinational Corporations”, Human Resource Management, 44/1, 35-53. Schoonover, S.C. (2003) Human Resource Competencies for the New Century, www. schoonover. com/pdf/HR_Competencies_for_the_New_ Century_Final. pdf, (11. 28. 2010). Strohmeier, S. (2007) Research in e-HRM: Review and Implications, Human Resource Management Review, 17, 19-37. Tafti, A., Mithas, S and Krishnan, M.S. (2009) Complementarities Between Information Technology and Human Resource Practices in Knowledgework, WISE 2009. Ulrich, D. (1997) HR of the Future: Conclusions and Observations, Human Resource Management, 36/1, 175-197. Ulrich, D. (1998) A New Mandate for Human Resources, Harvard Business Review, JanuaryFebruary, 124-134. Ulrich, D., Brockbank, W., Yeung, A.K. and Lake, D.G. (1995) Human Resource Competencies: An Empirical Assessment, Human Resource Management Journal, 34, 473495. Ulrich, D., Younger, J. and Brockbank, W. (2008) The Twenty-First Century HR Organization, Human Resource Management, 47/4, 829-850. www. comparehris. com/HRIS-overview/, (24. 01. 2012). Yeung, A.K. (1996) Competencies for HR Professionals: An Interview with Richard E. Boyatzis, Human Resource Management, 35/1, 119-131. 255 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1122 Title A name given to the resource The Impact Of Information Technology On Human Resource Practices And Competencies Author Author Ömer , Faruk Ünal Abstract A summary of the resource. Information Technology (IT) as a structural factor and instrument transforms architect of organizations, business processes and communication, and is increasingly integrated into human resource management (HRM). While IT has impacts on human resource (HR), at the same time managers, employees, customers and suppliers increase their expectancies for HR functions. The importance of knowledge and human capital make extra suppression on HR functions and new competencies for HR professionals are expected. In this research, the impacts of Information Technology (IT) on HR practices and competencies of HR professionals are studied. Date A point or period of time associated with an event in the lifecycle of the resource 2012-05-31 Keywords Keywords. Conference or Workshop Item PeerReviewed H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/354232f211bf5518f857a5f025d1c914.pdf c221ae7bc81d93daf3e28f50cf2a45b3 PDF Text Text International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo The Impact of Infrastructure Investments on Regional Economic Performance: A Meta-Analysis Mehmet Akif Kara Kahramanmaras Sütçü İmam University, Kahramanmaraş, Turkey akifkara@hotmail.com Serkan Ada Kahramanmaras Sütçü İmam University, Kahramanmaraş, Turkey ada13126@gmail.com Today, the notion of regional competition shapes regional economic policies, and these policies improve regions’ competitive power, in addition to channelizing the resources into the underdeveloped regions and supporting some of the activities in underdeveloped regions. Infrastructure investments, which can be evaluated as among these policy instruments, can be a determining factor in the choice of the facility location and can increase the output as well as private sector investments through increase in private capital and labour productivity. Furthermore, increase in public infrastructure investment expenditures will promote the demand through the multiplier impact in the short term and price decreases caused by the productivity improvement in infrastructure investments in the long term; this demand impact will cause an increase in the whole production and employment. At the same time, public infrastructure investments afford cities, regions, and nations the opportunity to improve their competitive structures, due to the fact that they are able to decrease transportation and production costs. Gramlich (1994: 1177) defines infrastructure investments as natural monopolies that require large capital intensity, such as highway and other transportation means, water and drainage lines, and communication systems and also alternatively defines and stresses that it is necessary to focus on the tangible capital stock possessed by the public sector. The expanded version of this definition also includes human capital as well as research and development investments. These types of infrastructure investments enable public policies to influence the long-term growth and productivity at the regional level. Particularly following the study of Aschaur (1989), many studies have been done in order to determine the impacts of different infrastructure types on national and regional economic growth by using various ways and methods. Some of these studies, that 195 �International Conference on Economic and Social Studies, 10-11 May, 2013, Sarajevo were done particularly since 1990s, mentioned that economic and social infrastructure investments directly impact (or indirectly impact through externalities) regional output, private sector investments, costs, and employment. Studies also showed that these investments increased the competitive power of regions. In this study, the impact of infrastructure investments on regional economic performance has been investigated by using the meta-analysis methodology. Meta-analysis is a method used for quantitatively aggregate primary research studies in a particular field. A large collection of primary studies from a particular body of literature is surveyed in accordance with predefined coding protocols and procedures. Studies included in a metaanalysis need to be empirical and should examine similar and/or same constructs and relationships. In the current study, we have examined the relationship between infrastructure investments and regional economic performance thus included the studies that examined this relationship. In order to identify the sample of primary studies, we have initially searched the bibliography of previously published review studies on the same topic. We have also searched online databases for identifying the sample papers. This process yielded 87 numbers of studies, which were then reduced to 70 due to the inadequate data. The papers will be coded based on certain study characteristics, and then the data analysis will be done using SPSS statistical software package. Keywords: Public Infrastructure Investments, Private Investments, Regional Income, Regional Economic Performance, Meta-Analysis. 196 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1651 Title A name given to the resource The Impact of Infrastructure Investments on Regional Economic Performance: A Meta-Analysis Author Author AKIF KARA, Mehmet ADA, Serkan Abstract A summary of the resource. Today, the notion of regional competition shapes regional economic policies, and these policies improve regions’ competitive power, in addition to channelizing the resources into the underdeveloped regions and supporting some of the activities in underdeveloped regions. Infrastructure investments, which can be evaluated as among these policy instruments, can be a determining factor in the choice of the facility location and can increase the output as well as private sector investments through increase in private capital and labour productivity. Furthermore, increase in public infrastructure investment expenditures will promote the demand through the multiplier impact in the short term and price decreases caused by the productivity improvement in infrastructure investments in the long term; this demand impact will cause an increase in the whole production and employment. At the same time, public infrastructure investments afford cities, regions, and nations the opportunity to improve their competitive structures, due to the fact that they are able to decrease transportation and production costs. Gramlich (1994: 1177) defines infrastructure investments as natural monopolies that require large capital intensity, such as highway and other transportation means, water and drainage lines, and communication systems and also alternatively defines and stresses that it is necessary to focus on the tangible capital stock possessed by the public sector. The expanded version of this definition also includes human capital as well as research and development investments. These types of infrastructure investments enable public policies to influence the long-term growth and productivity at the regional level. Particularly following the study of Aschaur (1989), many studies have been done in order to determine the impacts of different infrastructure types on national and regional economic growth by using various ways and methods. Some of these studies, that were done particularly since 1990s, mentioned that economic and social infrastructure investments directly impact (or indirectly impact through externalities) regional output, private sector investments, costs, and employment. Studies also showed that these investments increased the competitive power of regions. In this study, the impact of infrastructure investments on regional economic performance has been investigated by using the meta-analysis methodology. Meta-analysis is a method used for quantitatively aggregate primary research studies in a particular field. A large collection of primary studies from a particular body of literature is surveyed in accordance with predefined coding protocols and procedures. Studies included in a metaanalysis need to be empirical and should examine similar and/or same constructs and relationships. In the current study, we have examined the relationship between infrastructure investments and regional economic performance thus included the studies that examined this relationship. In order to identify the sample of primary studies, we have initially searched the bibliography of previously published review studies on the same topic. We have also searched online databases for identifying the sample papers. This process yielded 87 numbers of studies, which were then reduced to 70 due to the inadequate data. The papers will be coded based on certain study characteristics, and then the data analysis will be done using SPSS statistical software package. Keywords: Public Infrastructure Investments, Private Investments, Regional Income, Regional Economic Performance, Meta-Analysis. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-10 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 https://omeka.ibu.edu.ba/files/original/22f20275ee3f24b30dbf4be35aacf478.docx 6c151e3692bc52094f93bf9369d77d4f https://omeka.ibu.edu.ba/files/original/cfcba9f34d3b08d2ef1dec1fc6f88b9b.pdf c1f8b7bee5ef2d4d978137aaa6480c10 PDF Text Text The Impact of Job Satisfaction in Academic Job Advertisements in Turkish State Funded Universities, the Case of Ege University AhmetSalihİkiz MuğlaSıtkıKoçman University Turkey ahmet@mu.edu.tr Abstract: Academic recruitment is one of the main element works of University Boards. This policy matches the departmental academic staff needs. And also increases internationality recognition of universities with qualified staff. The academic position calls plays a vital role in this process. Advertisement process monitored and organized by University Rectors in State Universities in Turkey. That enables candidates to apply proper positions in Faculties. That in turn improves their job satisfaction in organization. Ege University is one of the biggest and oldest Universities in Turkey located in Izmir. In this study we first explain the academic staff advertisement process in Ege University than explain job satisfaction of applicants according to the findings of our survey. We applied a questionnaire to randomly chosen recently appointed assistant professors in short interviews in order to evaluate their satisfaction after the recruitment as academician in Ege University. The main aim was to see and observe how much they satisfied in post appointment process in their academic life. The main findings ensured that significant number of the sample group has satisfied with academic environment after the recruitment. In this study findings of those questionnaires are clearly explained. That gave us insights about academic staff advertisements and appointments impact on job satisfaction after the recruitment. Keywords: Academic staff advertisement, Ege University. 188 � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 2541 Title A name given to the resource The Impact of Job Satisfaction in Academic Job Advertisements in Turkish State Funded Universities, the Case of Ege University Author Author Ahmet, SALIHİKIZ Abstract A summary of the resource. Academic recruitment is one of the main element works of University Boards. This policy matches the departmental academic staff needs. And also increases internationality recognition of universities with qualified staff. The academic position calls plays a vital role in this process. Advertisement process monitored and organized by University Rectors in State Universities in Turkey. That enables candidates to apply proper positions in Faculties. That in turn improves their job satisfaction in organization. Ege University is one of the biggest and oldest Universities in Turkey located in Izmir. In this study we first explain the academic staff advertisement process in Ege University than explain job satisfaction of applicants according to the findings of our survey. We applied a questionnaire to randomly chosen recently appointed assistant professors in short interviews in order to evaluate their satisfaction after the recruitment as academician in Ege University. The main aim was to see and observe how much they satisfied in post appointment process in their academic life. The main findings ensured that significant number of the sample group has satisfied with academic environment after the recruitment. In this study findings of those questionnaires are clearly explained. That gave us insights about academic staff advertisements and appointments impact on job satisfaction after the recruitment. Keywords: Academic staff advertisement, Ege University. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2014-04-24 Keywords Keywords. Article PeerReviewed Identifier An unambiguous reference to the resource within a given context ISSN 2303-4564 H Social Sciences (General) Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1036 Title A name given to the resource The Impact of Literature On Linguistics: ″A rabbit, an elf, and some horrorshow droogs″ Author Author Milak , Eldin Baştuğ, Harun Abstract A summary of the resource. Main goal of the article is the establishment of common ground between two fields of language study; Linguistics and Literature, since the common links that connect these branches not only exist, but are strongly present in many areas of each field. However, they are misconstrued and underestimated, which leads to an incomplete understanding of both. We have used three main arguments, from a certain point of view, to gradually form a strong proof of the interdependency which governs the relation: contribution of Literature to the theory of Linguistics, contribution of Literature to specific branches, and contribution of Literature to Language. Using a considerate amount of written evidence, as well as exploring the history of both fields, it should be evident that the relationship which exists requires a different approach to studies. Saussure’s demarcation might be idealized, as the synchronic primacy might not uphold in the present, as everyday written records are becoming closer to the level that spoken language has in the linguistic development process. This area may require more exploration. The result might be general, and need to be specified, so that it can be used in the field of ELT, as a manner of teaching foreign languages. Date A point or period of time associated with an event in the lifecycle of the resource 2012-05 Keywords Keywords. Conference or Workshop Item PeerReviewed P Philology. Linguistics https://omeka.ibu.edu.ba/files/original/d80b0f2939694a2a47bddace6cdd974b.docx fcb0d8bdb99c483f6d27cb1c033c527d https://omeka.ibu.edu.ba/files/original/630f88a1ecf98af7429b74e8c06c1ee6.pdf 2492590d0e4cb251d4b2498a66a9b276 PDF Text Text The Impact of Literature On Linguistics: ″A rabbit, an elf, and some horrorshow droogs″ Milak , Eldin and Baştuğ, Harun (2012) Abstract Main goal of the article is the establishment of common ground between two fields of language study; Linguistics and Literature, since the common links that connect these branches not only exist, but are strongly present in many areas of each field. However, they are misconstrued and underestimated, which leads to an incomplete understanding of both. We have used three main arguments, from a certain point of view, to gradually form a strong proof of the interdependency which governs the relation: contribution of Literature to the theory of Linguistics, contribution of Literature to specific branches, and contribution of Literature to Language. Using a considerate amount of written evidence, as well as exploring the history of both fields, it should be evident that the relationship which exists requires a different approach to studies. Saussure’s demarcation might be idealized, as the synchronic primacy might not uphold in the present, as everyday written records are becoming closer to the level that spoken language has in the linguistic development process. This area may require more exploration. The result might be general, and need to be specified, so that it can be used in the field of ELT, as a manner of teaching foreign languages. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 3242 Title A name given to the resource The Impact of Literature On Linguistics: ″A rabbit, an elf, and some horrorshow droogs″ Author Author BASTUG, Harun MILAK, Eldin Abstract A summary of the resource. Main goal of the article is the establishment of common ground between two fields of language study; Linguistics and Literature, since the common links that connect these branches not only exist, but are strongly present in many areas of each field. However, they are misconstrued and underestimated, which leads to an incomplete understanding of both. We have used three main arguments, from a certain point of view, to gradually form a strong proof of the interdependency which governs the relation: contribution of Literature to the theory of Linguistics, contribution of Literature to specific branches, and contribution of Literature to Language. Using a considerate amount of written evidence, as well as exploring the history of both fields, it should be evident that the relationship which exists requires a different approach to studies. Saussure’s demarcation might be idealized, as the synchronic primacy might not uphold in the present, as everyday written records are becoming closer to the level that spoken language has in the linguistic development process. This area may require more exploration. The result might be general, and need to be specified, so that it can be used in the field of ELT, as a manner of teaching foreign languages. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2016 Keywords Keywords. Article PeerReviewed PE English,PR English literature https://omeka.ibu.edu.ba/files/original/f8eb06a01cf315bd9472696d8c54256c.pdf 42a74922c571b4bfc89b486398f30cd1 Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource IT Senior Design Projects Description An account of the resource The IT Senior Design Projects (SDPs) category showcases innovative and practical final-year capstone projects developed by undergraduate and graduate students in the field of Information Technology. These projects represent the culmination of students' academic and technical expertise, demonstrating their ability to solve real-world problems through software and hardware solutions. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource THE IMPACT OF LOW-CODE PLATFORMS ON TRADITIONAL AND AGILE SOFTWARE DEVELOPMENT TEAMS Author Author Emina Dedić Abstract A summary of the resource. The adoption of Low-Code/No-Code (LCNC) platforms is increasing in the software development industry, promising to modernize the development process. While these platforms are often known for their accessibility and efficiency, there is still discussion about their effects on software development teams. This research aims to investigate the effects of LCNC platform adoption, focusing on changes to team dynamics, roles, and productivity. A sample project is implemented across different LCNC platforms, allowing for a direct comparison of the development process, time, and challenges encountered. Keywords Keywords. Low-Code/No-Code platforms, software development, team dynamics, traditional development, productivity, adoption impact, skill set, project timelines, collaboration. sdp traditional development https://omeka.ibu.edu.ba/files/original/4be75717cdae3f73a26e1ccce7288e2e.pdf db533fc2b3c2da2584291fe0d1caa99a PDF Text Text Journal of Economic and Social Studies The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina Mohammad HAMAD Management Department International Burch University Sarajevo, Bosnia and Herzegovina Alkuds16@hotmail.com Abstract The effective design and delivery of micro-credits is difficult under all circumstances. However, in conflict-affected societies, the task of microcredit institutions that seek to provide financial stability to its most impoverished members is more complicated. This paper aims to investigate the role and the impact of the microcredit industry in Bosnia and Herzegovina. Data for this study were gathered from both microcredit institutions and recipients of microcredit funds using both qualitative and quantitative techniques. The research results show that refugees, internally displaced persons and returnees are less likely to get loans compared to those with stable incomes, meaning the population with stable incomes has benefited more from these credits in improving their living conditions. Most of the targeted populations of the interest free microcredit foundation (MCF) that was taken as a case study in this research expressed their satisfactions with the loans and service provided by the particular MCF. From a policy perspective, it is important to focus attention on the most affected population groups, those least able to pull themselves out of poverty. Microcredit foundations should find a balance between being non-profit based and achieving their full sustainability. KEYWORDS Microcredit program, Bosnia and Herzegovina, Microcredit Foundations, Microcredit Institutions, Interest rate, Poverty, Debt, Borrowing. ARTICLE HISTORY Submitted: 22 February 2011 Resubmitted: 27 March 2011 Resubmitted: 4 May 2011 Accepted: 4 July 2011 Jel Code: G21 Volume 2 Number 1 Spring 2012 69 �Mohammad HAMAD Introduction This paper explores whether microcredit (MC) programs have any effect on alleviating poverty and restoring livelihoods for the targeted populations in Bosnia and Herzegovina (BH). Doyle, who conducted a comprehensive review on the general impact of MC in helping refugees, returnees and IDPs in improving their living conditions and restoring their livelihoods, seems to believe so (Doyle, 1998 & 2008). As a mechanism that has a stated directive and the objective of targeting the most impoverished groups of society, the role of microfinance in BH deserves much more attention and serious exploration. Bosnia and Herzegovina is a country that endured a devastating war from 19921995. The traditional best-practice paradigms of microfinance are inapplicable in war and conflict-affected situations because of the instability of the governmental and financial institutions, and the lack of communal and social trust among individuals. Within these post-war environments, refugees, returnees and internally displaced populations (IDPs) are among the most marginalized and helpless of the affected groups. Providing microfinance to them is then perhaps the most challenging problem facing practitioners and MC institutions engaged in this kind of relief and development work. Various micro-financial institutions have been active in Bosnia-Herzegovina since 1996 and struggle with providing services in such a challenging environment. An insight into their work promises to uncover strategies that may be employed with the problems and successes of such endeavors. Therefore, this paper will shed light on the work of these organizations and their effectiveness. 70 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina The following relevant research questions are addressed in this study: Research question number one: How do micro-credits affect the livelihoods of the targeted groups, and to what extent do refugees, internally displaced persons and returnees have access to micro-credits in Bosnia and Herzegovina? Research question number two: What are the objectives of the microcredit programs, and what are the most requested loans in Bosnia and Herzegovina? Research question number three: What are the perspectives of the beneficiaries of micro-credits in Bosnia and Herzegovina regarding this service and its impact on them? There is a big debate and doubts about the certain impact of the MC industry in BH both at the local and international levels. The reports from the World Bank, Microfinance Information Exchange (MIX) and the Association of Microfinance Institutions in Bosnia and Herzegovina (AMFI) show that; among peers in Kosovo and in the Balkans (Albania, Croatia, Macedonia, Montenegro, Serbia) in general, as well as peers similar in size and market outreach from Eastern Europe and Central Asia (ECA), the Bosnian MFIs are some of the most highly leveraged, more than 70 percent of all funding to MFIs in BH during 2007 came from foreign lenders. In 2007, most Bosnian MFIs showed high growth rates in active borrowers and especially loan portfolio. More than half of the non-bank MFIs grew by more than 50 percent in outreach. On the other hand, others like Karnani (2007a) suggested that governments, businesses and civil society should work together to reallocate their resources away from microfinance and instead support larger enterprises in labour intensive industries. A strong critique comes from Bateman (2007a) ‘new wave commercial microfinance’ where he asks whether microfinance can actually undermine medium-term economic development because it supports inefficient activities. Bateman found that there is little solid evidence to confirm that commercial microfinance facilitates sustain economic and social development. However, this paper might provide some evidence as to whether the MCI in BH, with it’s both commercial and non-profit institutions, helps in alleviating poverty and promots economic and social development. Volume 2 Number 1 Spring 2012 71 �Mohammad HAMAD Literature Review Origin and Philosophy of Microcredit Micro-credits, as a viable tool of development, began in 1976 when Bangladeshi economist and social reformer Muhammad Yunus began lending small amounts of money to rural poor women of Jobra village to start or expand their businesses. That initial and modest foray into microcredit eventually culminated in the formal establishment in 1983 of the Grameen Bank based on principles of group-based lending of small-sized loans with zero collateral. (Yunus, 2004) Focusing specifically on the agency, entrepreneurial skills and innovation of the marginalized and poverty-stricken populations in developing countries, the “greatest triumph of microfinance was the demonstration that poor households could be reliable bank customers” (Cull, 2008). Moreover, Yunus utilized microfinance to directly mitigate a significant and core problem in development economics: that the poor remain poor because they do not have access to productive capital to grow their way out of poverty (Kanishka, 2009). Historically, microfinance programs have been developed and targeted to address the concerns and needs of poor households that markets and governments fail to adequately confront. More specifically, according to Heen (2004), the client-base of microfinance institutions includes: female heads of households, pensioners, displaced persons, retrenched workers, small farmers, and micro-entrepreneurs, each of whom fall into one of four poverty levels: destitute, extreme poor, moderate poor, and vulnerable non-poor. These programs typically offer a wide range of financial services such as: deposits, loans, savings, payment services, money transfers, and insurance to the poor and low-income households and their micro-enterprises who are excluded from the formal financial systems (Swain, Ranjula, Nguyen, & Vo Tuan, 2008). According to Legerwood (1999), microfinance institutions may also provide social intermediation services such as: group formation, development of self confidence, and training in financial literacy and management capabilities among members of a group. Thus, microfinance is more than simple banking; it is a development tool as she asserts (Legerwood, 1999, p. 1). In BH a Center for Financial and Credit Counseling (known by its Bosnian acronym CFKS) opened its doors in Tuzla in 2010 and aims to offer debt mediation and financial education to borrowers. 72 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina The most successful of the microfinance development philosophy is evidenced by reports of the top micro lenders which boast repayment rates of 98 percent or higher, all achieved without securing any collateral for the loans. This success is attributed, by Cull, Demirguc-Kunt, & Morduch (2008), to “new lending practices, especially “group lending” (also called “joint liability” lending). Authors described this model in which customers were typically formed into small groups and required to guarantee each others’ loan repayments, aligning their incentives with those of the bank. This practice was rarely used in Bosnia and Herzegovina, due to lack of the trust between groups and society as a direct consequence of the recent war. Rhyne (2001) best summarizes the common philosophies and goals driving the current microfinance movement as follows: using the client’s character rather than collateral as the primary loan security, streamlining the administrative processes to lower costs, responding rapidly to late payments, providing positive incentives for repayment, charging interest rates that approach or cover costs, and emphasizing the long-term sustainability of the lending organization (Rhyne, 2001, p. 7). However, this is not to say that microfinance has been credited as an unprecedented success. Microfinance programs are also weakened by a serious and well-acknowledged lack of comprehensive and tough impact evaluations. Morduch (1998) explained this very fact in his book The Microfinance Promise. In his summary of the problems confronting the microfinance industry he argued that the promise of microfinance was founded on innovation: new management structures, new contracts, and new attitudes. The leading programs came about by trial and error. Once the mechanisms worked reasonably well, standardization and replication became top priorities, with continued innovation only around the edges. As a result, most programs are not optimally designed nor necessarily offering the most desirable financial products. Such weaknesses and difficulties facing the MC industry in BH are easily noticed since 2009 till today. Many critics, articles and analysis have been published locally and overseas tackling issues like: indebtedness of MC clients, high profit generated by MCFs, lack in pricing transparency regarding interest rates, skyrocketing salaries and privileges of MCF managers. The harshest criticism came from Milford Bateman during a round table conference in September 2011 when he concluded that the MC industry in BH is a failed experiment. Volume 2 Number 1 Spring 2012 73 �Mohammad HAMAD Microfinance in Post-War/Conflict Environments The fundamental point according to Doyle (1998, 2008) is that of microfinance being viewed as a tool that can serve multiple goals. Predominantly, it remains an economic development strategy that focuses on rebuilding and restarting local economies by providing needed financial services for enterprise creation, but there is also consideration of its use as a relief and survival strategy in the immediate wake of disaster, and as a tool for peace and reconciliation. At the same time, Heen (2004) believes that just because microfinance programs focus on marginalized groups in a given society does not mean that microfinance automatically avoids the broader problems and risks of development and that microfinance products and programs may, in fact, create conflicts in a number of ways. According to her, microfinance programs may cause conflicts in two ways; first, by reinforcing or creating new social divisions through client or geographical targeting, and second, by causing conflicts among clients especially if group lending mechanisms are used and one member of the group is unable to repay, and the whole group suffers as a consequence (Heen, 2004, p. 12-13). Uvin (1999) argues that a purely economic-technical approach to development may help to lay the groundwork for further inequality and mal-development, as well as structural, and eventually acute, violence. This point is only further underscored by Doyle (2008) when she writes that microfinance professionals in conflict-affected environments must understand the dual imperative of being proactive as well as careful. While, doing nothing or retreating could result in prolonged human suffering and the need for more extensive, costly, and difficult involvement down the road, acting hastily or unwisely could create unintended, potentially severe repercussions (Doyle, 2008, p. 1). Most of the above mentioned unfavorable consequences could occur in BH as well. Essential and Preferred Conditions of Microfinance in Post-Conflict Areas Keeping the primacy of good preparation in mind, Doyle lists several essential conditions that must be in place to institute microfinancial activities in a conflict-affected area. She then goes on to list several preferred conditions which while not entirely necessary, are still entirely desirable (Doyle, 2008, p. 7-11). 74 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina Essential Conditions include: low intensity of conflict, reopening of markets and long-term displacement (18 months or longer). In the case of BH the long term repatriation process is one of the biggest concerns for both politicians and individuals, so this could be considered an important condition to be taken into consideration by the MC industry. Preferred Conditions include; relatively dense population, enabling legislation for microfinance (MF) institutions, a skilled and educated workforce, social capital, and trust in the local currency and financial institutions. In the case of BH the legislations for MF started late in 2006 and were officially applied in 2008. This delay could be one of the root causes of current problems that both clients and MC industry have been facing since 2009. However, keeping in mind the obstacles, and the critical need to be careful as well as proactive, Doyle notes several steps to be undertaken before embarking on microfinance refugee programs. These include; first, investigating the current political situation to learn whether refugees are likely to be repatriated within the next 12 months. Second, ensuring that there are activities that can gradually integrate refugees into the local markets and in a nonthreatening way. Third, asking refugees what sort of financial services or non-financial services they need most now, then building a program around the existing situation. Fourth, instilling confidence in the permanence of the microfinance services as long as refugees are in their current location to ensure repayment, and implement the program with a longer-term vision. Microfinance for Refugees, Internally Displaced and Returnees Even before counting the challenges that would be inevitable to the implementation of a microfinance program for refugees, returnees and internally displaced populations, it is valuable to discuss some more general constraints on the economic lives of these groups. Jacobsen (2005), writes in her book that the abilities of refugees and internally displaced persons in camps to engage in viable economic activities that go beyond subsistence is determined by their access to productive assets such as arable land, economic infrastructure such as mills and storage facilities and perhaps most importantly, credit. Jacobsen goes onto list several factors which restrict access to these productive assets, one of which being freedom of movement in and out of camps in order to pursue these economic activities. Moreover, she writes, “refugees in protracted situations must also cope with shifts in attitude from the host community, Volume 2 Number 1 Spring 2012 75 �Mohammad HAMAD which can affect both the willingness of authorities to implement restrictions, and refugees’ economic activities” (Jacobsen, 2005, p. 31). This is very true in the case of returnees in BH, as the unwillingness of the dominant majorities and restrictions created by authorities are some of the biggest obstacles facing MCFs in targeting this vulnerable group of the population. In light of the above, in the world of post-conflict reconstruction and development evaluating, designing and implementing a microfinance program for refugees, returnees and internally displaced populations presents an additional layer of difficulty and complexity. Bartsch (2005) outlines some of these difficulties. First, microfinance is oftentimes founded on the notion of group solidarity to replace the conventional banking requirement of material or monetary collateral. It is exactly this group solidarity which is most absent from refugee populations. Second, microfinance as an industry is more closely related to the principles of banking than to relief and will need to seriously review and also perhaps check its measures of success. Third, while the provision of relief is supposed to benefit the poorest and most affected populations, microfinance in its current form, is bound to benefit only people already endowed with business acumen and, often enough, sufficient resources to sustain themselves. Fourth, to be successful microfinance must be implemented as one strategy amoung an entire array of relief and development strategies such as business training and, most importantly, an enabling environment. In post-war countries like BH assuring a smooth approach from relief to development strategies in MC is very crucial in order to avoid or minimize the consequences of immediate shifting or jumping from the relief and emergency phase to the development phase without considering or going through the rehabilitation phase. The MC industry should apply and adopt a rehabilitation strategy before moving further in the development phase, and this could be considered one of the main root causes of the current crisis facing the industry since 2009. Debt Capacity and Repayment Suspension One of the reasons for the popularity of micro-credits is the performance on loan recovery where anything below 95 percent is considered unsatisfactory by donor organizations (Harper, 2007a, p. 39). However, loan recovery does not give any indication of whether people are able to pay back the loans without suffering additional destitution, something that has become much clearer during the current global economic crisis 76 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina which has affected the debt recovery of large number of borrowers in Bosnia and Herzegovina. In other words, debt recovery relies heavily on the debt capacity of the borrowers which was defined by Von Pischke (1991, p. 177) as follows; lenders are able to recover loans on schedule only when the repayment capacity of the borrower equals or exceeds debt services which consist of principal and interest due for payment. Borrowers are able to repay their loans on time without suffering hardship only when their repayment capacity equals or exceeds the debt service due according to the loan contract. In order to be consistent with the Microcredit Foundations (MCFs) aim to serve as a catalyst for economic development, the repayment capacity should exceed the debt service by a considerable margin. However, according to the available data on most of MCFs’ websites and reports in BH, this is commonly not the case. And early warning signals sent by a few local practitioners as a result of their internal surveys and observations were not taken seriously nor could they prevent the sudden explosion of the current crisis that the industry is facing since 2009. In spite of this, the lack of debt capacity, repayment suspension is granted only in very exceptional circumstances as Rutherford (2002) stated. As Mareen (2008, p. 402) state: “Even during major disasters, such as the 1998 and 2004 floods in Bangladesh, payments were at best postponed until flood waters had receded”. While in Bosnia and Herzegovina since the 2009 global economic crises, the loans reconstructing (rescheduling) technique was used to overcome the delay on repayments, such approach guaranteed borrowers longer periods but loaded them with extra interest charges. MCFs Organizational Structures and Loan Recycling Organizational Structure; According to Wood and Sharif (1997), and Hulme and Moseley (1996), in many MCFs the “discretionary power” to grant a stay of payment does not rest with the fieldworker or the branch manager but rather with managers higher up in the hierarchy. This is important as hierarchical decision making and operational autonomy notably affects the ability of borrowers to cope with and recover from emergencies both in positive and negative terms. The same could be said for the MCF that will be used as a case study in this paper as well as all other MCFs in Bosnia and Herzegovina. Loan Recycling; According to Yunus (2002); “once half the outstanding loan is repaid, clients are allowed to take out a second loan to help pay off the previous loan”. Loan recycling has become a common practice in many MCFs in Bosnia and Her- Volume 2 Number 1 Spring 2012 77 �Mohammad HAMAD zegovina, as this has been approved by the Federal Banking Agency (FBA) which controls the activities of all MCFs since June 2008. But in the case of Bosnia and Herzegovina, the practice of loan recycling has been applied regardless of the above condition mentioned by Yunus. MCFs varied in initiating conditions to secure getting back their money from borrowers; some of them asked borrowers to only have guarantors who are working in governmental sectors, while others asked for additional interest or offered larger loans and longer repayment periods with conditions to close the whole amount of the previous loan immediately. Alleviating Poverty and Pricing Transparency The extra liquidity was intended for daily expenses during the crisis, as well as for productive investment. However, handing out more money on credit should never be a solution in itself as over time it can change attitudes and erode cautiousness according to Nagarajan (1998), Dichter (2007) and Allen (2007). Microcredit is generally most appropriate where ongoing economic activity and sufficient household cash flow already exist as explained by (CGAP, 2005, p. 8). In spite of MCFs having long been highly transparent in some areas, due to the complications of market conditions and lack of regulation, the true price of loan products has never been accurately measured or reported. This is a serious weakness in the industry, although there has been a serious effort made since 2008 regarding the transparent pricing issue, even though this still listed prominently in all consumer protection efforts currently underway. Elizabeth Littlefield (2009), the former CEO of CGAP, stated: “MF Transparency aims at giving microfinance institutions information to offer better value to customers. And it will give investors and others the information they need to put pressure on those institutions that may be charging unreasonably high fees or hiding the full cost of their services. We applaud the effort.” Social and Economic Stagnation in Bosnia and Herzegovina The social and economic situation of many people living in Bosnia and Herzegovina is difficult, particularly for the IDPs and returnees. Many IDPs still live in collective accommodation, while the returnees are suffering from an extremely high unemployment rate in majority dominated areas, the loss of a social assurance system, poor health care, education and infrastructure facilities. Furthermore many families lost their main breadwinner and are therefore being confronted with poverty that they did 78 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina not know before the war. Bosnia and Herzegovina has not yet managed to overcome economic stagnation. The market is still split because of a federal fragmentation and non-standardized regulations; there is no uniform economic, tax or legal policy. The transformation from a socialist to capitalist economy has exacerbated the social situation, which is already precarious in the aftermath of the war. Fifteen years after the war, many young people are leaving the country to search for work and better living conditions as they can no longer see their future in Bosnia and Herzegovina. Table 1 and table 2 show general statistics on Bosnia and Herzegovina that reflects the multi-ethnic composition of the country, and how much it is crucial for those who offer such services to be very sensitive and careful in regards to neutrality and impartiality. It is also crucial to target the host community in addition to returnees, refugees and IDPs. In order for the host community not to feel disadvantaged by the presence of these vulnerable groups, and in order not to obstruct the services that are offered to them, it is very crucial that the host community, in one way or another, gets benefits from the same services that the other target groups are enjoying. The table also shows that almost more than one million IDPs and refugees have been resettled in their prewar houses, something which is very important to remember when comparing this (in the next sections of this study) to the accessibility of these groups to micro-credits. Table 1. General statistics on BOSNIA AND HERZEGOVINA according to 1991 census Indicators FBH Surface area in km2 / % RS 26.110,5 (%51) 24.605,7 (%48,0) % of population by territory %62,1 BD Total 493 (%1,0) 51.209,2 %2,0 %100 %35,9 Source: Statistics on BOSNIA AND HERZEGOVINA (ISSN 1512-5106) Table 2. General statistics on BOSNIA AND HERZEGOVINA according to 1991 census Ethic Population Bosniaks Croats Serbs Yugoslavs Others Total Population by ethnicity/% 1.902.956 (%43,5) 760.852 (%17,4) 1.366.104 (%31,2) 242.682 (%5,5) 104439 (%2,4) 4.377.03 (%100) Returnees from1996-2006 630.730 129.612 249.020 - 8.071 1.017.43 Source: Statistics on BOSNIA AND HERZEGOVINA (ISSN 1512-5106) Volume 2 Number 1 Spring 2012 79 �Mohammad HAMAD Table 3 shows different human development indicators taken from the UNDP 2009 annual report, which reflects the need for more efforts to improve the quality peoples’ lives. Around 20% of the population of Bosnia and Herzegovina are definitely poor or on the edge of poverty, while Bosnia and Herzegovina is ranked 76th out of 177 countries in human development index. The encouraging figures coming from life expectancy where Bosnia and Herzegovina is ranked 51st and in adult literacy is ranked 39th with rate of 96.7%. Table 3. Human Development Indicators of BOSNIA AND HERZEGOVINA Human Development Index “HDI” (rank/rate), 76. (out of 182) / %81,2 Life expectancy at birth (rank/year) 51./ 75,1 years Under 5 mortality rate (per 1,000 live births) 18 Adult literacy for ages 15 and above (rank/rate) 39. / %96,7 People not using an improved water source (rank/rate) 27. / %1 GDP per capita (rank/PPP US$) 92. / 7,764 % of Poverty level - definitely poor, on the edge of poverty, not definitely poor %11,3, %7,8, %73,9 Population below poverty line during 2009, 2010, 2011( rank/rate) 88. 86. 106 (%25, %25, %18,6) Conflict Background and History The signing of the Dayton Peace Agreement (DPA) in December 1995 ended the conflict and established Bosnia and Herzegovina as a federal state made up of two entities: the (mainly Bosnian Serb) Republic of Srpska (RS) and the (mainly Bosniak and Croat) Federation of Bosnia and Herzegovina (FBH). According to the DPA each entity has its own government, president, parliament and police, and until 2005, each had its own army. The north-eastern Brčko district (BD) is a self-governing administrative unit with territory in both (FBH) and (RS). In the aftermath of the war, the international community set out to establish a peaceful, multi-ethnic state by: stabilizing the country militarily, promoting the return of displaced people and by reforming national institutions. The DPA provided for a strong internation- 80 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina al presence including a North Atlantic Treaty Organization (NATO)-led military force, and the Office of the High Representative (OHR) to oversee the civil implementation of the DPA. Specific to refugees and internally displaced people, the DPA focused on the right of the displaced to return to their homes and reclaim their properties. As of June 2008, the number of internally displaced persons estimated by United Nations High Commissioner for Refugees (UNHCR) and the Ministry of Human Rights and Refugees (MHRR) had dropped from 1,200,000 to around 125,000 (UNHCR, June 2008 citing government figures), indicating that over one million refugees and IDPs had returned to their pre-war residences. Research Methodology The research methodology of this paper considered a combination of qualitative and quantitative research methods and identified the use of content analysis and questionnaires as the most appropriate. The primary data mostly from the questionnaires is complemented by secondary data from the reports of various institutions in Bosnia and Herzegovina. The primary was data collected in March 2010 by an interest-free MCF in Bosnia and Herzegovina that was chosen as a case study in this paper and kept anonymous upon the request of the organization. In one questionnaire, 458 borrowers expressed their perspectives about the impact of microcredit on their lives, while 50 borrowers in another questionnaire expressed their perspectives about interest-free and interest-based loans. The surveys covered 40 towns within five Cantons in the FBH, RS and BD. The breakdown of these towns according to identities and Cantons is given in Table 4. Table 4. Survey Region and Towns in Bosnia and Herzegovina Regions Towns Central Bosnia Canton Vitiz, Travnik, Novi Travnik, Gornji Vakuf, Donji Vakuf Fojnica Tuzla, Gradacac, Srebernik, Sapna, Teocak, Ugljevik, Zevinica, Teslic, Kalesija, Celic, Gracanica, Lukavac, Banovic Tuzla Canton Zenica-Doboj Canton Doboj-Istok, Tesanj, Kakanj, Zenica, Vares, Visoko, Zavidovic, Zepce Podrinje Canton: Gorazde, Ustikolina Brcko District: Brcko Republic of Srpska: Bijelina, Milici, Zvornic, Bratunac, Srebrenica, Voca, Visegrad, Zepa. Volume 2 Number 1 Spring 2012 81 �Mohammad HAMAD The primary data also includes: five one-to-one interviews with senior managers of MCFs and a number of borrowers, many field visits and meetings with loan officers and the general population, and observations on the microcredit industry in Bosnia and Herzegovina over the past five years. Secondary data includes the data and reports of the Association of Microfinance Institutions (AMFI) in Bosnia and Herzegovina, statistics from the “Bureau of Statistics of the Federation of Bosnia and Herzegovina”, websites of MCFs in Bosnia and Herzegovina, and the 2009 annual report of the MCF that has been taken as a case study. Analysis of Results This analysis aims to outline what has been compiled from data and information related to the three questions that this paper is addressing. The findings below in table 5 are related to the first research question and show that only 3% of employment has been created, 89% of borrowers were willing to get another loan, 96% solved their problems through getting loans, while 41% of them have problems in making their repayments. Table 5. Borrowers perspectives about the impact of MICROCREDIT on their lives Items Yes (Number/%) No (Number/%) Solved problem with loan 441/ 96% 17 / 4% Improved life standard 443 / 97% 15 / 3% Created new employment 15 / 3% 443 / 97% Have problems with repayment 186 / 41% 272 / 59% Willing to get another loan 406 / 89% 52 / 11% Total number of questionnaires 458 82 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina The findings in the table below (Table 6) related to the second part of the first research question show that only 3% of returnees and 2% of IDPs have access to microcredit, despite the fact that more than one million refugees and IDPs have managed to return and settle to their pre-war houses. Table 6. The accessibility of returnees, refugees, and IDPs to microcredit in Bosnia and Herzegovina % of loans disbursed to IDPs % of loans disbursed to returnees 2% 3% % of loans disbursed to refugees No evidence The results of both primary and secondary data show that overall objective of microcredit organizations in Bosnia and Herzegovina is alleviating poverty by improving the livelihoods of the poorest people. Microcredit organizations state that the following are objectively verifiable indicators of achievements: increase in the income of borrowers; improvements in the standards of living; improvements in housing standards; improvements in family health; improvements in the overall quality of life and improvements in the quality of education. Research results further state that the main purpose of microcredit programs in Bosnia and Herzegovina is to empower and assist returnees and IDPs to return to their pre-war houses. Other objectives include reconstructing destroyed houses, starting small businesses, assisting socially disadvantaged persons, improving the living conditions of the poor and assisting poor students to afford a good education. Microcredit organizations use a number of indicators to measure their achievements. These include: the number of businesses started and expanded through microcredit programs, the sustainability and profit level of these businesses, the decline in the poverty level of beneficiaries, the number of people moving into proper houses, the number of returnees settled in their pre-war houses, the number of returnees employed, the number of jobs created, and the number of children that continue their education in communities. The findings in Table 7 are related to the second part of research question number two, showing that the following percentages of types of loans have been disbursed: 32% housing loans; provided to help rebuilding and renovating destroyed homes; 37% business loans, helping in establishing of small businesses; 5% orphans loans, given to families carrying for an orphan; 18% social loans, provided in most cases to socially endangered population and 8% educational loans, provided to students in order to assist them to continue their education. Volume 2 Number 1 Spring 2012 83 �Mohammad HAMAD Table 7. Percentage of the type of loans disbursed in Bosnia and Herzegovina Business loans Housing loans Social loans Educational loans Orphans loans 37% 32% 18% 8% 5% In regards to the interest issue, the findings from the secondary data show that there are two kinds of loans; Interest-Based and Interest-Free Loans: There are 25 MCFs in BH, from which 13 are members of the Association of Microfinance Institutions in Bosnia and Herzegovina (AMFI). Only one of them is interest-free and the others are interest-based. Interest-Based Loan: Most of the interest based MCFs began their activities in 1996. According to the 2010 first quarterly report of the AMFI these MCFs have a portfolio of around 825 million BAM, around 325.000 active loans, a gained amount of 95.535.126 BAM net profit in 2009, while their annual interest rates differ from 15% up to 36%. Interest-Free Loans: The interest-free MCFs began their activities in 2001. According to their annual report in 2009 they have portfolio in the amount of around three million BAM, less than 1800 active loans, gained no profit but did have losses, and charged up to 7.5% as admin fees for their services. Finally, the findings from Table 8 show that 88% of borrowers expressed their readiness to seek loans from interest-free MCFs even if they are more expensive than interest-based ones. When answering the question “Why did you seek a loan from an interest-free MCF rather than any other MCFs?” 52% said that it was due to its compliance with Shariah, while 48% said it was due to cheaper cost. Table 8. Borrowers’ perspectives about interest-free and interest-based loans Questions Yes No Number (%) Number (%) 1. Were there any other loans available to you when you received the loan from the interest-free MCF? 45 (90%) 1 (2%) 2. Why did you seek a loan from interest-free rather than any other MCFs? - - 44(88%) 6 (12%) 3. Would you seek loans from interest-free MCF even if it is more expensive than interest-based loans? 4. Do you feel there is an extra obligation to repay because Interest-free is in compliance with Shariah? 34 (68%) Total number of questionnaires 50 84 14(28%) Other answers Number (%) 4 no answer (8%) 26 Compliance with shariah (52%) 24 Low admin costs (48%) 2 no answer (4%) Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina Discussion This section of the paper discusses the overall findings of this study, and determines the answer to each of the three research questions. In regards to the first question (How does microcredit affect the livelihoods of the targeted groups, and to what extent do refugees, internally displaced persons and returnees have access to microcredits in Bosnia and Herzegovina?) the findings are very modest: only 3% of jobs have been created, the reason could be better understood if one realizes that only 37% of loans were taken for creating or developing businesses, this means that most of the taken business loans were used for self employment and improving the living conditions of borrowers, but not for expanding businesses and creating new jobs. The findings also show that only 3% of returnees and only 2% of IDPs had access to MC, although more than one million of refugees and IDPs have managed to return and settle. Obviously, it could be understood that this vulnerable group has benefited the least from MC programs in Bosnia and Herzegovina. Regarding the second question (What are the objectives of the microcredit programs, and what are the most requested loans in Bosnia and Herzegovina?) the findings from the case study carried by one MCFs (interest-free) operating in more than 64 municipalities in Bosnia and Herzegovina during 2009, concluded that only 37% of the disbursed loans were used in a productive manner (business loans), such as livestock/poultry rearing, trading and farming, agriculture, handicrafts, etc, while 32% have been used for renovating and reconstructing houses (housing loans), 18% have been used to cover social needs such as food, medication, etc (social loans), 8% have been used for educational purposes, such as paying university fees, buying books, computers, etc, (educational loans), and 5% have been used to support families caring for orphans (orphans loans). This shows that despite the fact that 15 years have passed since the war ended in Bosnia and Herzegovina, there is still a need for reconstruction and renovation of devastated houses. The findings also show that enough funds, from different donors and investors including the World Bank, are available for the interest-based MCFs, as they have portfolios of around 825 million BAM and around 325.000 BAM in active loans. While the interest-free ones have limited funds with a portfolio of around 3 million BAM, as they have no access to banks and international funds and investors due to Shariah restrictions that forbid taking or giving interest under any circumstances. On the other hand, the interest-free MCFs seem to have two advantages; the first one is that they are much cheaper than other MCFs, and the second advantage is the willingness of the majority of the target population, who are Muslims, to comply with Shariah in regards to the issue of the interest. Volume 2 Number 1 Spring 2012 85 �Mohammad HAMAD In relation to the third question (What are the perspectives of the beneficiaries of micro-credits in Bosnia and Herzegovina regarding this service and its impact on them?) the findings from the previously mentioned case study reflect the need of MCFs to continue operating in Bosnia and Herzegovina, as more than 95% expressed that MCs solved their problems and improved their living standards. On the other hand, by analyzing the figures of at risk portfolios (9,7%) and write offs loans (9,8%), and the 41% of borrowers who expressed having problems with their repayments, it seems that MCFs, in one way or another, had encouraged borrowers to get more loans, thus burdening them with more debts. Another meaningful finding from the same case study is that even though 41% of borrowers have problems with repayment, 89% expressed their willingness to get more loans, something that has a positive side and a negative side. The positive side reflects the feeling of people that, with the passing of time, they can rely on getting more loans to develop their business and solve their financial problems, while the negative side is that they might become overloaded with loans and find themselves sinking deeper and deeper into poverty. Conclusion As a conclusion, the findings reflect the meaningful objectives that were set out by MCFs in Bosnia and Herzegovina, and the direct impact of MC on the population’s life, as most of them expressed their satisfaction with getting loans as a solution to their daily problems. In practice, it seems that MC in Bosnia and Herzegovina has contributed mostly by helping people who have regular income to cover their loans, more than helping those without stable income. The findings also suggest that despite the long existence and wide availability of micro-credits in Bosnia and Herzegovina, many people do not generate enough income to become self-sufficient, and the number of jobs created is very modest. The statement of a senior manager in one MCF is insightful in this respect: “Even though microfinance may meet the varied and immediate needs of many people, meeting those needs does not mean that microfinance is lifting them out of poverty”. Therefore many clients often fail to break out of income poverty and many even get caught up in an increasing debt-burden syndrome and slide further into poverty. While interviewing a number of borrowers, many of them stated that they had been encouraged and facilitated to get many loans from same MCF; one of them admitted that he/she got more than 20 active loans from only one MCF. The demographic of returnees, refugees, and IDPs have the least access to MC, and those who do have access are those who have the greatest difficulties with their 86 Journal of Economic and Social Studies �The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina repayments. This emphasizes that these categories should be much more targeted, with much better facilities, which current MCFs in Bosnia and Herzegovina may not be able to offer. Most of MCFs in Bosnia and Herzegovina are interest-based and have qualified human resources and adequate financial resources as well, something that led some of them to consider transitioning to banking institutions. Also, some of them have won international awards, confirming that it is possible for MC in Bosnia to record its contribution to the development of this industry at the international level. In contrast, there are very few interest-free MCFs, with very limited human and financial resources. However, this study has shown that these types of institutions have the acceptance of a large segment of the Bosnian Muslim society, as the findings affirm the willingness of the target population to adhere to Islamic rules related to the interest issue. But in order for these kinds of institutions to attract more donors and investors and to deliver a better service, they should: allocate much more funds, advocate on behalf of the poorest population and initiate new techniques to reach and target them, end suspicions as whether charging administration fees on a percentage basis is compliant with Shariah or not, have a qualified shariah board, or shariah consultant to supervise and give directions to the work in the field, and adopt new techniques “even if they are not fully lawful by shariah” to secure their funds and to avoid the delay issue in repayments. It is wise to remember and adopt the Shariah principle that rules: Choosing the lesser of two evils. The findings also show that the MC industry in Bosnia and Herzegovina seems to not be cheap enough, as the interest rates in most of MCFs are pretty high and might not be transparent enough; while advertizing relatively lower rates, extra expenses will be paid by the client in many other forms, such as: application fees, loan monitoring, etc. During one-to-one interviews and discussions with several senior managers of MCFs, one of them admitted that the annual interest rate comes up to 36%. Another senior manager explained the success of his/her organization, where the annual net profit exceeded one million Euros. The findings also reflect that despite the fact that more than 15 years have passed since the war ended, there is still a need for the reconstruction and renovation of devastated houses, as large scale of loans have been taken for this purpose. Finally, the limitation of this paper is that it mostly reflects the perceptions of the clients of only one interest free MCF which was taken as a case study in this research. This confirms the need for more comprehensive future studies on the MC industry in Bosnia and Herzegovina; particularly the interest based ones, in order to explore the real impact of these institutions on the local economy and peoples’ lives, and to serve as a guide and reference for the industry. Volume 2 Number 1 Spring 2012 87 �References Allen, H. (2007). Finance begins with savings, not loans, in Dichter, T. and Harper, M. (Eds), What’s Wrong with Microfinance? Practical Action Publishing, Rugby, pp. 49-60. Bartsch, D. (2005). Microfinance and refugees, UNHCR, Issue briefNo. FMR 20. Retrieved from http:/www.fmreview.org/FMRpdfs/FMR20. Microfinance Information Exchange (MIX) and the Association of Microfinance Institutions in Bosnia and Herzegovina (AMFI). (2009). Bosnia Microfinance Analysis and Benchmarking Report, 2008. Consultative Group to Assit the Poor (CGAP). (2005). Microcredit: one of many intervention strategies. Paper presented at CGAP Direct PowerPoint, Donor Information Resource Centre, Retrieved from: www.cgap.org/ direct/docs/presentations/MicrocreditInter.ppt Cull, R., Demirguc-Kunt, A., & Jonathan, M. (2008). Microfinance Meets the Market, Working paper No. 4630. Development Research Group, the World Bank, 3-4. Retrieved from http://www.worldbank.org Doyle, K. (1998). Microfinance in the Wake of Conflict: Challenges and Opportunities. Retrieved from URLhttp://www.microfinancegateway.com/files/27399_ file_Final_IA_Report_v._14.pdf Doyle, K. (2008). Microfinance Best Practices Project. Retrieved from URLhttp:// www.microfinancegateway.com/files/27399_file_Final_IA_Report_v._14.pdf Dichter, T. (2007). Can microcredit make an already slippery slope more slippery?, in Dichter, T. and Harper, M. (Eds), What’s Wrong with Microfinance?. Practical Action Publishing, Rugby, pp. 9-17. Elizabieth, L. (2009). Promoting Transparent Pricing in the Microfinance Industry. Retrieved from http://www.zdravo.org/Dokumenti/Microfinance_transparentncy_31_march_09.pdf Harper, M. (2007a). What’s wrong with groups?, in Dichter, T. and Harper, M. (Eds), What’s Wrong with Microfinance?. Practical Action Publishing, Rugby, pp. 35-48. 88 Journal of Economic and Social Studies �Heen, S. (2004). Microfinanc and Conflict: Toward a conflict-Sensetive Approach. Diss. Tufts University, Boston, MA: The Fletcher School, 1. Hulme, D., & Moseley, P. (1996). Finance against Poverty, Vol. 1, London. Karen, J. (2005). The Economic Life of Refugees, Kumarian Press, Paperback, 1565492048, 31. Kanishka, B. (2009). Does microfinance affect refugee’s livelihoods? A study of Bosnia and Herzegovina in 2001, B.A. Washington, D.C. Legerwood, J. (1999). Micro finance Handbook. An Institutional and Financial Perspective. Publication No. Sustainable Banking with the Poor. The World Bank. Washington DC: The World Bank, 1. Maurer, K., & Pytkowska, J. (2010). Indebtedness of Microcredit Clients in Bosnia and Herzegovina. Retrieved from http://www.microfinancegateway.org/p/ site/m/template.rc/1.9.53356/ Mareen, G. S. (2008). Poverty alleviation or poverty traps? Microcredits and vulnerability in Bangladesh. Disaster Prevention and Management. Vol. 17 No. 3, pp. 396-409 Milford, B. (2011). Microcredit in Bosnia- a Flawed or a Failed Experiment? Round table conference, International Burch University. Mujkovic, A. (2010). Microcrediting in Bosnia and Herzegovina; What went wrong? Retrieved from http://www.microfinancegateway.org/p/site/m/template.rc/ Morduch, J. (1998). Does Microfinance Really Help the Poor? New Evidence from Flagship Programs in Bangladesh. Working paperNo. Department of Economics and HHID, Harvard University. Nagarajan, G. (1998). Microfinance in the Wake of Natural Disasters: Challenges and Opportunities, Development Alternatives International Inc. Microfinance Best Practices, Bethesda, MD. Otero, M. (1999). Bringing Development Back into Microfinance. Rep.No. Accion International. Accion International, 1. Otero, M. (2000). Bringing Development Back into Microfinance. Rep.No. Accion International. Accion International, 1. Volume 2 Number 1 Spring 2012 89 �MicroFinance Transparency Org. Pilot Project on Pricing Transparency in Peru and Bosnia & Herzegovina. 325 N West End Ave, Lancaster, PA 17603 USA. Retrieved from http:/ www.mftransparency.org Rhyne, E. (2001). Mainstreaming Microfinance: How Lending to the Poor Began, Grew, and Came of Age in Bolivia, Bloomfield, CT: Kumarian Press, 7. Rutherford, S. (2002). Money talks: conversations with poor households in Bangladesh and managing money. Working Paper No. 45, Finance and Development Research Programme, University of Manchester, Manchester. Bosnia and Herzegovina, Federation of Bosnia and Herzegovina, Federal of Statistics Office. (2008). Statistical Bulletin (May 2008). ISSN 1512-5106. Retrieved from http:/ www.fzs.ba Swain, R., Nguyen, S., & Tuan V. (2008). Micro finance and Poverty Reduction in the Mekong Delta in Vietnam, African and Asian Studies, 191-215. Uvin, P. (1999). Development Aid and Structural Violence. The Case of Rwanda, Development 42, 3. United Nations Development Programme (UNDP). (2009). Human Development Report (2009). Country Fact Sheets, Bosnia and Herzegovina. Retrieved from http://hdrstats.undp.org/en/countries/country_fact_sheets/cty_fs_BIH.html Von Pischke, J.D. (1991). Finance at the Frontier: Debt Capacity and the Role of Credit in the Private Economy. World Bank Publications, Washington, DC. Wood, G.D. & Sharif, I.A. (Eds). (1997). Who Needs Credit? Poverty and Finance in Bangladesh, UPL, Dhaka. Yunus, M. (2002). Grameen Bank At a Glance. Retrieved from http://www.grameen info.org/index.php?option=com_content&task=view&id=26&Itemid=0 Yunus, M. (2004). Grameen Bank At a Glance. Retrieved from http://www.grameen info.org/index.php?option=com_content&task=view&id=26&Itemid=0 90 Journal of Economic and Social Studies � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1067 Title A name given to the resource The Impact of Microcredit Programs in Alleviating Poverty and Restoring Livelihoods of the Targeted Populations in Bosnia And Herzegovina Author Author HAMAD, Mohammad Abstract A summary of the resource. The effective design and delivery of micro-credits is difficult under all circumstances. However, in conflict-affected societies, the task of microcredit institutions that seek to provide financial stability to its most impoverished members is more complicated. This paper aims to investigate the role and the impact of the microcredit industry in Bosnia and Herzegovina. Data for this study were gathered from both microcredit institutions and recipients of microcredit funds using both qualitative and quantitative techniques. The research results show that refugees, internally displaced persons and returnees are less likely to get loans compared to those with stable incomes, meaning the population with stable incomes has benefited more from these credits in improving their living conditions. Most of the targeted populations of the interest free microcredit foundation (MCF) that was taken as a case study in this research expressed their satisfactions with the loans and service provided by the particular MCF. From a policy perspective, it is important to focus attention on the most affected population groups, those least able to pull themselves out of poverty. Microcredit foundations should find a balance between being non-profit based and achieving their full sustainability. Publisher An entity responsible for making the resource available International Burch University Date A point or period of time associated with an event in the lifecycle of the resource 2012-01 Keywords Keywords. Article PeerReviewed H Social Sciences (General),HB Economic Theory,HG Finance https://omeka.ibu.edu.ba/files/original/c119db31893fc7113ab8126332c40687.docx ff8df3a913e5dbc1b9c3100e75d75b52 https://omeka.ibu.edu.ba/files/original/a238601bb26ef3fc68f2100cf8e14cac.pdf 19ac04977f0e4c80b47570a395543d62 PDF Text Text The Impact of Musical Component on Vocabulary Acquisition George Shaduri International Black Sea University/ Tbilisi, Georgia Key words: suggestopaedia, vocabulary, musical session, jazz ABSTRACT The teaching method of suggestopaedia, which originated in the 1970s owing to the efforts of Bulgarian psychotherapist Georgi Lozanov, has already been applied in the framework of studies dealing with ELT. In practice the method consists of several stages, the central of which represents intonation reading against appropriate musical background. Unconscious or not fully conscious psychical activity linked to the concept of “concert pseudopassivity” is critical at that stage. There have been a number of studies conducted in Georgia with the use of this method. This paper is a modest attempt to contribute to this relatively new and exciting field of pedagogy. The author conceived to conduct the experiment, while using the 20 century music during the phase of concert pseudopassivity. It should be mentioned that suggestopaedia generally uses classical music to create the concert pseudopassivity. The author, however, experimented with two genres of the 20th century: blues and jazz. Thus, the experiment was broken down into two parts. In the first part, the author aimed at investigating whether applying blues poetry as means for intonation reading, combined with the blues music as an audio-mirror of the read verse, influences the degree of acquisition of the vocabulary at the advanced level. The (first part of) experiment conducted showed positive result which allows of further investigation in the area. In the second part of the experiment, the author conducted twelve academic sessions, of which eight (8) went on using traditional way of teaching vocabulary, and four (4) were done with the elements of suggestopaedia, with the use of jazz music. The experiment has proven that with the use of suggestopaedia the academic outcome of the students increased by 20%, which can definitely be qualified as methodological success, which can be used as an auxiliary tool in the course of teaching. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1770 Title A name given to the resource The Impact of Musical Component on Vocabulary Acquisition Author Author SHADURI, George Abstract A summary of the resource. Key words: suggestopaedia, vocabulary, musical session, jazz ABSTRACT The teaching method of suggestopaedia, which originated in the 1970s owing to the efforts of Bulgarian psychotherapist Georgi Lozanov, has already been applied in the framework of studies dealing with ELT. In practice the method consists of several stages, the central of which represents intonation reading against appropriate musical background. Unconscious or not fully conscious psychical activity linked to the concept of “concert pseudo-passivity” is critical at that stage. There have been a number of studies conducted in Georgia with the use of this method. This paper is a modest attempt to contribute to this relatively new and exciting field of pedagogy. The author conceived to conduct the experiment, while using the 20 century music during the phase of concert pseudo-passivity. It should be mentioned that suggestopaedia generally uses classical music to create the concert pseudo-passivity. The author, however, experimented with two genres of the 20th century: blues and jazz. Thus, the experiment was broken down into two parts. In the first part, the author aimed at investigating whether applying blues poetry as means for intonation reading, combined with the blues music as an audio-mirror of the read verse, influences the degree of acquisition of the vocabulary at the advanced level. The (first part of) experiment conducted showed positive result which allows of further investigation in the area. In the second part of the experiment, the author conducted twelve academic sessions, of which eight (8) went on using traditional way of teaching vocabulary, and four (4) were done with the elements of suggestopaedia, with the use of jazz music. The experiment has proven that with the use of suggestopaedia the academic outcome of the students increased by 20%, which can definitely be qualified as methodological success, which can be used as an auxiliary tool in the course of teaching. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 3610 Title A name given to the resource THE IMPACT OF PERSONAL BACKGROUND AND ENVIRONMENTAL FACTORS ON ENTREPRENEURIAL INTENTION OF WOMEN IN THE NORTHERN MONTENEGRO: MEDIATING ROLE OF PERSONALITY TRAITS Author Author HADŽIĆ, Minela Abstract A summary of the resource. Entrepreneurs are imperative for the long-term economic growth of every country. Researchers are trying to explain how important entrepreneurial intention is by taking different factors in considerations. This paper will discuss three most important groups of factors affecting entrepreneurial intention of unemployed women in the northern Montenegro. Based on literature review, those factors are personal background, personality traits and environmental groups of factors. In this study, focus will be on four factors from each group which are perceived as most important according to researchers. The study will provide new framework in this field. While some studies found that personal background and environmental factors affect entrepreneurial intention, this study assumes mediation effect of personality traits. The main research focus will be on women since majority of unemployed people in the north of the country is women whose small proportion is entrepreneur. Keywords: Entrepreneurs, Entrepreneurial intention, Unemployed Women, Montenegro Date A point or period of time associated with an event in the lifecycle of the resource 2016 Keywords Keywords. Thesis NonPeerReviewed H Social Sciences (General) https://omeka.ibu.edu.ba/files/original/df3b7a6a14a58c0199834fb613dee785.docx 4418fbc7a6e1983ec8196b247e5ae641 https://omeka.ibu.edu.ba/files/original/e28ed226f15666f18cc8c3cc5520314b.pdf 466d815671eac0c55c818bd11223de98 PDF Text Text The Impact of Reflective Writing Practice on Pre-Service Teachers' Vocabulary Teaching Beliefs Kenan Dikilitaş & İsmail Zeki Dikici Gediz University/ Muğla Sıtkı Koçman University/ Turkey Key words: vocabulary, pre-service teachers, cognition, beliefs, reflection ABSTRACT Vocabulary teaching has been one of the most complex issues in language teaching as natural depth and breadth of vocabulary knowledge poses challenges on the teaching process. This study analyses pre-service teachers' cognition about vocabulary teaching. For the purpose of the study, 10 pre-service teachers were asked to write their plans on how they would teach vocabulary to young learners once they start their professional teaching. Their responses will be qualitatively analysed and emerging beliefs will then be categorised in order to design a short training that aims to provide the pre-service teachers with an opportunity to reflect on their vocabulary teaching beliefs. After the training another set of reflective writing will be collected based on Kirkpatrick and Kirkpatrick's (2008) four levels of impact (Level 1-Reaction, Level 2-Learning Level, Level 3-Behaviour, Level 4-Results). The study will particularly provide detailed information about the impact of this short training on beliefs with reference to these four levels. Through such reflective practices, the researchers aim to show that pre-service teachers' beliefs can be influenced and their knowledge about vocabulary teaching methodology can be developed. � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Extent The size or duration of the resource. 1830 Title A name given to the resource The Impact of Reflective Writing Practice on Pre-Service Teachers' Vocabulary Teaching Beliefs Author Author DIKILITAS, Kenan DIKICI, İsmail Zeki Abstract A summary of the resource. Key words: vocabulary, pre-service teachers, cognition, beliefs, reflection ABSTRACT Vocabulary teaching has been one of the most complex issues in language teaching as natural depth and breadth of vocabulary knowledge poses challenges on the teaching process. This study analyses pre-service teachers' cognition about vocabulary teaching. For the purpose of the study, 10 pre-service teachers were asked to write their plans on how they would teach vocabulary to young learners once they start their professional teaching. Their responses will be qualitatively analysed and emerging beliefs will then be categorised in order to design a short training that aims to provide the pre-service teachers with an opportunity to reflect on their vocabulary teaching beliefs. After the training another set of reflective writing will be collected based on Kirkpatrick and Kirkpatrick's (2008) four levels of impact (Level 1-Reaction, Level 2-Learning Level, Level 3-Behaviour, Level 4-Results). The study will particularly provide detailed information about the impact of this short training on beliefs with reference to these four levels. Through such reflective practices, the researchers aim to show that pre-service teachers' beliefs can be influenced and their knowledge about vocabulary teaching methodology can be developed. Publisher An entity responsible for making the resource available IBU Publishing Date A point or period of time associated with an event in the lifecycle of the resource 2013-05-03 Keywords Keywords. Article PeerReviewed