Academic literature on the topic 'Industrial corporations Jordan'

The present study aimed at identifying the impact of strategic fit on the marketing performance of the industrial corporations in Jordan. The population consists from all the Jordanian industrial corporations that are listed on Amman Stock Exchange. To be specific, the population consists from 63 companies. A sample was chosen through using the simple random sampling method. It was selected from 54 companies. Questionnaire forms were distributed to marketing, and administrative directors (or the ones holding equivalent positions).  76 questionnaire forms were retrieved (out of 108 questionnaires). All of the retrieved forms are valid for statistical analysis. The response rate is 70.37%. The latter rate is considered a good rate. Several results were concluded. For instance, it was found that the strategic fit has a statistically significant positive impact on the marketing performance of the Jordanian industrial corporations. The researchers recommend providing more attention to the achievement of strategic fit in the industrial corporations. That shall enable those companies to improve their marketing performance.

The purpose and aims of this study is to illustrate the extent use of contemporary management accounting practices MAPs in the Jordanian industrial corporations listed on Amman Stock Exchange ASE, and an attempt to find out the most common practice used. A field study conducted by using a questionnaire distributed to accountants working in 25 different industrial corporations, a total of 75 questionnaires distributed, 52 were valid for analysis purposes. The financial data related to the operational performance were collected for the periods 2013-2016. The study used arithmetic mean and standard deviation to describe the study sample and determine degree of implementation of contemporary MAPs.Multiple regression analysis used to detect the effect of MAPs on each indicator of operational performance.Results of the study showed a moderate use of contemporary MAPs, such as Target costing, Kaizen costing and Just-in-time manufacturing, moreover a least used practices were Activity base costing and Balance scorecard, and analysis revealed a different effect of applied contemporary MAPs on operational performance indicators, an effects on inventory turnover rate is observed, and no statistically effect on operational ratio, receivables turnover and total assets turnover. Worthwhile, the researcher proposed a number of proposals and recommendations, emphasis in reconsideration of application mechanism of contemporary MAPs applied in the corporations, and activate the role of various contemporary MAPs used as an information system, which could assess the corporate managers and decision-makers serving the management's objectives in the industrial corporations.

Due to unstable economic and political conditions, many companies in the Middle East are undergoing various financial distress and decline in profitability. This paper examines the role of earnings management to avoid financial distress and improve profitability in 58 industrial corporations listed on Amman Stock Exchange for a period of 2011 to 2016, which constitutes 89% of the whole population. The total number of observations is 413 for the entire study period. The study uses a cross-sectional Jones model that was modified by (Kothari, Leone, and Wasley, 2005); to measuring discretionary accruals that used as a proxy for earnings management.The empirical results indicate that earning management is not affected by the Altman’s Z-score index, but it has a positive relationship with debt to equity ratio. This study also shows a positive relationship between earnings per share, returns on equity, and earnings management. Regarding the control variable, we found a negative relationship between cash flow from operation and discretionary accruals.

Purpose This study aims to investigate the relationship between different themes of corporate social responsibility (CSR) and companies’ market value (measured by Tobin Q) for Jordanian firms listed on the Amman Stock Exchange (ASE) for the period 2006-2010. Design/methodology/approach The annual reports of 26 companies on the ASE for the years 2006-2010 were selected for this study. Three industrial sectors were chosen: chemical; food and beverage; and pharmaceutical and medical (P&M). The CSR is measured by constructing an index consisting of four themes which are as follows: environmental 9 items; human resources 16 items; community 7 items; and products 7 items. The study adopts Tobin Q as the dependent variable to measure the market value of corporations. Two control variables were included in the regression analysis for their possible effects on the CSR and company’s market value relationship: size and leverage. This study performs a multiple regression analysis model to test the effect of the four CSR themes: environmental, human resources, community and products on the market value measured by Tobin Q. Findings The results revealed that environmental, community and product activities decreased market value in the food and beverage industry, while human resources activities had no effect on market value in the same industry. Moreover, the community theme was found to have a negative effect on market value in the P&M industry, while the three other themes were found to have no effect on market value in the same industry. The four themes had no effect on market value in the chemical industry. Research limitations/implications The current study has a number of limitations, which have implications for future research. First, the study focused only on three industrial sectors (chemical, food and beverage and P&M), which limited the results to only these industries. In addition, the CSR concept and its effect on profitability is an important issue for the financial and services sectors. Hence, it would be beneficial to investigate the CSR impact on profitability for the financial and services sectors. Moreover, the study focused only on one country, Jordan. An extension of this study could be a comparison of the CSR effect on financial performance between Jordan and other countries in the Middle East. Furthermore, the measurement of CSR is subject to criticism because it might generate bias according to subjective judgments about CSR items. The CSR items are equally weighted, which might not be acceptable because their nature and effect differ among industries. However, introducing qualitative measures for CSR that reflect various perspectives about CSR practices and implications is essential. Finally, the period chosen for this study includes the years of global financial crisis as well which had eroded the market value of many firms in different industries, and this may form a prominent limitation of this study. Practical implications The results of this study have given evidence of the role of CSR in Jordan. The investments in the CSR field could negatively affect or could have no effect on market value. Overall, regulators in Jordan should pay attention to the costs and benefits of CSR among companies. Companies will be encouraged to invest in CSR activities if the benefits on their financial performance exceed the costs (cost-benefit theory). Specifically, companies should select types of CSR activities that enhance their competiveness in the society. Social implications The results of this study provide practical implications to several users in the chemical, food and beverage and P&M industries. Managers, investors and other users may pay attention to the impact of CSR strategies on the company’s market value. For example, food and beverage managers may decrease their CSR investments around environmental, community and product activities because these decrease the market value and profitability of the company. However, the CSR investment in human resources does not affect the profitability in this industry. For the chemical industry, managers may not focus on CSR investments in the different activities (environmental, human resources, community and products) because these have no impact on the company’s market value. In regards to the P&M industry, managers may decrease their CSR investments around community activities because this decreases the market value. However, managers may not be concerned with CSR investments in environmental, human resources and products activities because these do not affect the company’s market value. Originality/value The relationship between CSR and a company’s financial performance has been tested broadly in the financial and management fields without any conclusive results. Some explanations for the inconclusive results are discussed. Inoue and Lee (2011, p. 791) noted three main issues that remain unresolved in the studies regarding the relationship between CSR and a company’s performance: using samples for different industries, using cross sectional observations and using aggregate CSR dimensions. The current study overcomes the main problems in the previous discussion. In particular, the study will focus on specific industries (chemical, food and beverage and P&M). In addition, the study will use multidimensional CSR measures. Moreover, financial performance will be measured by a single measure (market value) instead of using different measures of financial performance.

Jordan as one example of Middle Eastern countries suffers from the problem of workers turnover. This paper analyzed this issue numerically and by building a statistical model to find out the main reasons causing this problem as a first step towards the right solution. Five main categories for workers turnover were studied and investigated. The salary, the working environment, the helpfulness and corporation of the management, the worker psychological state and relationships with surrounding environment, and the services provided by the employer to the employee. Statistical analysis of the results showed that the main reason for turnover in industrial cities is the salary.

Jersey Oil and Gas Unearths Wengen Prospect The Greater Buchan Area (GBA) now has four drill-ready prospects to add to discoveries already slated for development. In a new subsurface evaluation, Jersey Oil & Gas, a British-independent North Sea-focused upstream oil and gas company, has uncovered a new prospect, named Wengen, to complement its Verbier Deep, Cortina NE, and Zermatt drill-ready prospects. The four are estimated to host some 222 million bbl of P50 prospective resources, all in the immediate vicinity of Jersey’s planned GBA production facility. The consolidated Greater Buchan venture comprises Buchan field (80 million bbl), Verbier (c25 million bbl), J2 (c20 million), and Glenn (14 million). The new prospect, located in License P2170, is directly west of the Tweedsmuir field and should host some 62 million bbl of potential resources (P50), with the probabilistic range set at 31 million bbl at P90 (higher confidence) and 162 mil-lion for P10 (lower confidence). Probability of geological success is 22% for the prospect. Contractor Rockflow previously estimated the recoverable resources in the GBA at 94.7 million bbl, including the parts within P2170. In late November, Jersey announced it is taking full ownership of License P2170, which hosts most of the Verbier discovery, as part of the GBA. In March, Jersey told investors the project is fully funded and that it intends to take the project to potential industry partners via a farm-out process. An exploratory drilling campaign is being planned for 2022. Jordan Finds “Promising” Gas Reserves Near Iraq Border Jordan’s majority state-owned National Petroleum Company (NPC) has discovered “promising” natural gas in the Risha gas field along its eastern border with Iraq. Risha makes up nearly 5% of the kingdom’s consumption of natural gas of around 350 MMcf/D for power generation, Jordanian officials said. The flow of new gas supplies will raise the productivity of the gas field and help Jordan cut dependence on oil imports to fuel its power sector and industries. The country, which now imports over 93% of its total energy supplies, is burdened by a $3.5-billion annual bill, comprising almost 8% of Jordan’s GDP. Although British supermajor BP abandoned the eastern desert area in 2014 after investing over $240 million, Jordanian exploration has stepped up since 2019, boosting quantities by at least 70%, Mohammad al Khasawneh, head of NPC, said. An ambitious 10-year energy plan unveiled in 2019 aims to secure nearly half of the country’s electricity generation from local energy sources com-pared to a current 15%, according to Iraq Energy Minister Hala Zawati. The plan is meant to diversify local energy sources by expanding investments in renewable and oil shale to reduce costly foreign fuel imports, Zawati added. ExxonMobil Discovers Hydrocarbons Offshore Suriname ExxonMobil and Petronas have discovered several hydrocarbon-bearing sandstone zones with good reservoir qualities in the Campanian section of the Sloanea-1 exploration well on Block 52 offshore Suriname, adding to ExxonMobil’s finds in the Guyana-Suriname basin. The well was drilled by operator Petronas. ExxonMobil said in November that it is prioritizing near-term capital spending on advantaged assets with the highest potential future value. Maersk Drilling reported in early July that it had secured the Maersk Developer from Petronas subsidiary PSEPBV in a $20.4-million one-well exploration con-tract offshore Suriname. The semisubmersible rig drilled the Suriname-Guyana basin well to a total depth of 15,682 ft. “We are pleased with the positive results of the well,” Emeliana Rice-Oxley, Petronas’ vice president of upstream exploration, said. “It will provide the drive for Petronas to continue exploring in Suriname, which is one of our focus basins in the Americas.” Block 52 covers an area of 1.2 million acres and is located approximately 75 miles offshore north of Paramaribo. The water depths on Block 52 range from 160 to 3,600 ft. ExxonMobil E&P Suriname BV, an affiliate of ExxonMobil, holds 50% interest in Block 52. PSEPBV is operator and holds 50% interest. CNOOC Starts Production on Penglai 25-6 Oil Field Area 3 Project China National Offshore Oil Corporation (CNOOC) announced on 14 December that its Bohai Sea Project - the Penglai 25-6 oil field area 3 - has started production ahead of schedule. The biggest offshore oil field and the second biggest oil field in China, the Penglai is located in the south central Bohai Sea, with average water depth of about 27 m. In addition to fully utilizing the existing processing facilities of Penglai oil fields, the project has built a new wellhead platform and plans 58 development wells, including 38 production wells and 20 water-injection wells. The project is expected to reach its peak production of approximately 11,511 B/D of crude oil in 2023. Six successful appraisal wells were also drilled, which confirmed the presence of hydrocarbons in reservoirs located with-in Miocene, Lower Minghuazhen, and Guantao sandstones. The Penglai 19-3 oil field is located in Block 11/05 of Bohai Bay, approximately 235 km southeast of Tanggu. The production-sharing contract for block 11/05 was signed between CNOOC and ConocoPhillips China (COPC) in December 1994; the field was discovered jointly by CNOOC and COPC in 1999. The oil field was developed in two phases. Phase I production started in December 2002; production from the wellhead platform C, which is tied back temporarily to the production facilities of Phase I, began in June 2007. Since June 2020, CNOOC has announced five production startups: the Jinzhou 25-1 oilfield 6/11 area project, the Liuhua 16-2 oilfield/ 20-2 oil-field joint development project, the Nan-bao 35-2 oilfield S1 area project, the Luda 21-2/16-3 regional development project, and the Qinhuangdao 33-1S oilfield phase-I project. In Q3 2020, CNOOC achieved a total net production of 131.2 million BOE, which the company said represented an increase of 5.1% year over year. Production from China was said to have increased by 10.4% year over year to 88.6 million BOE. In November, CNOOC revealed that the Liuhua 29-1 gas field had begun production; in September, the company said the Bozhong 19-6 condensate gas field pilot area development project had also begun. Operator CNOOC holds 51% interest while COPC holds 49% interest in the Penglai 25-6 oilfield area 3 project. Equinor’s Snorre Expansion Project Starts Ahead of Schedule, Below Cost Work began in December on the Snorre Expansion Project in the southern part of the Norwegian Sea. This increased-oil-recovery project will add almost 200 million bbl of recoverable oil reserves and help extend the productive life of the Snorre field through 2040. The expansion project is proposed in blocks 34/4 and 34/7 of the Tampen area, approximately 124 miles west of Florø in the Norwegian North Sea. “I am proud that we have managed to achieve safe startup of the Snorre Expansion Project ahead of schedule in such a challenging year as 2020. In addition, the project is set to be delivered more than NOK 1 billion below the cost estimate in the plan for development and operation,” Geir Tungesvik, Equinor’s executive vice president for technology, projects, and drilling, said. Originally scheduled to come onstream in the first quarter of 2021, the project comprises 24 new wells divided into six subsea templates, drilled to recover the new volumes. Bundles connecting the new wells to the platform have been installed, in addition to new risers. The project also includes a new module and modifications on Snorre A. In December 2017, Equinor submitted a modified plan for development and operation of the field. With the expansion, the recovery factor will increase from 46 to 51%, representing significant value for a field with 2 billion bbl of recoverable oil reserves. Wind power will supply about 35% of the power requirement for the Snorre and Gullfaks fields. The Hywind Tampen project, featuring 11 floating wind turbines, should start up in Q3 2022. The investments in the expansion project total NOK 19.5 billion (2020 value). The project has had substantial spin-off effects for the supply industry in Norway, particularly in eastern Norway and in Rogaland. The Snorre field partnership comprises Equinor (operator) 33.27%, Petoro 30%, Vår Energi 18.55%, Idemitsu 9.6%, and Wintershall Dea 8.57%. Petrobras To Sell Entire Stake in Onshore Field of Sergipe Petrobras on 11 December signed a contract with Energizzi Energias do Brasil to sell its entire stake in the onshore field of Rabo Branco, located south of the Carmópolis field in the Sergipe-Alagoas Basin, Sergipe state. The Rabo Branco field is part of the BT-SEAL-13 concession. The $1.5-million sale is in line with Petrobras’ strategy to cut costs and improve its capital allocation, to focus its resources increasingly on deep and ultradeep waters. The average oil production of the field, from January to October 2020, was 138 B/D. Energizzi Energias do Brasil will own 50% stake in the Rabo Branco field; operator Produção de Óleo e Gás (Petrom) holds the remaining 50%. On 10 December, Petrobras closed the divestiture of its full ownership in four onshore fields at the Tucano Basin site in the state of Bahia. Petrobras sold its entire interest to Eagle Exploração de Óleo e Gás (Eagle). Petrobras earned $2.571 million from this sale, in addition to the $602,000 that the company received at the time of signing the sale contract, for a total of $3.173 million. BP, Reliance Announce First Gas From Asia’s Deepest Project Oil-to-telecom conglomerate Reliance Industries Limited (RIL) and BP have started production from India’s first ultradeepwater gas project, the first of three such projects in the KG D6 block. The R Cluster gas field is located off the east coast of India, about 60 km from the existing KG D6 control-and-riser platform (CRP), and comprises a subsea production system tied back to the CRP via a subsea pipeline. It is the deepest offshore gas field in Asia at a depth greater than 2000 m. The companies’ next project, the Satellites Cluster, is expected to come on stream this year, followed by the MJ project in 2022. These projects will utilize the existing hub infrastructure in the KG D6 block. “Growing India’s own production of cleaner-burning gas to meet a significant portion of its energy demand, these three new KG D6 projects will support the country’s drive to shape and improve its future energy mix,” BP Chief Executive Bernard Looney said. The R Cluster field is expected to reach plateau gas production of about 12.9 million standard cubic meters per day (MMscm/D) in 2021. Peak gas production from the three fields should be 30 MMscm/D (1 Bcf/D) by 2023, about 25% of India’s domestic production, and will help reduce the country’s dependence on imported gas. RIL is the operator of KG D6 with a 66.67% interest; BP holds a 33.33% participating interest.

AbstractSince the Industrial Revolution, management has relied on hierarchy to control assets and employees. The negative impact of that hierarchical control on employee performance has long been recognized, yet in spite of expert and scholarly attempts to solve these problems hierarchical control generally continues to dominate management theory and practices. This article argues that is because these problems are rooted not in hierarchy, but rather in organizational expectations of hierarchy. Hierarchy emphasizing “liberating servant leadership” (Dr. Isaac Getz of the ESCP Business School in Paris introduced the term “liberating leadership,” the French equivalent of which “entreprise libérée” has become a household term in France. Max De Pree suggested the leader must become a servant in Leadership is an Art. This combines the two concepts.) instead of controlling employees can produce extraordinary business results. Eighteen innovative CEOs (The innovative CEOs and their successful companies in alphabetical order are Bill Gore, W.L. Gore Company; Bob Beyster, Science Applications International Corporation; Bob Davids, Radica Games & Sea Smoke Vineyard and Winery; Bob Koski, Sun Hydraulics; Bob Townsend, AVIS; David Kelley, IDEO; Garry Ridge, WD-40; Gordon Forward, Chaparral Steel; Harry Quadracci, Quad/Graphics; Herb Kelleher, Southwest Airlines; Jeff Westphal, Vertex; Ken Iverson, Nucor Steel; Kim Jordan, New Belgium Brewing; Max De Pree, Herman Miller; Paul Staley, PQ Corporation; Rich Teerlink, Harley Davidson; Robert McDermott, USAA Insurance; and Stan Richards, The Richards Group. Additional details about each leader can be found in the books Freedom, Inc. by Brian Carney and Isaac Getz and Questioning Corporate Hierarchy by Paul Staley and Bill Nobles.) whom I have studied discovered this by trial and error while trying to take advantage of Douglas McGregor’s Theory Y. Their leadership changed the design of their organizations. Believing that individuals can drive themselves more effectively than managers can, these CEOs sought to create conditions in which associates committed themselves to organizational objectives, and satisfied their ego and self-development needs. The CEOs relied on hierarchy to control financial assets, but fundamentally changed the human dimension. The organizational roles traditionally called “middle managers” responsible for controlling employees became “liberating servant leaders” responsible for ensuring that associates had everything needed to freely self-control and self-coordinate their efforts. The resulting self-motivated, creative employees played key roles in each CEO’s company being extraordinarily successful. These experiences provide a foundation for transforming the human role of hierarchy in organizational design.

The purpose of this analytical study is to determine the degree of application of Total Quality Management (TQM) philosophy and practices in the industrial corporations in Jordan. Through detailed examination of primary and secondary empirical data from these corporations, the study examines the link between TQM and labour productivity. The population of the study consists of all Jordanian shareholding corporations listed under the industrial category in Amman Stock Exchange. In late 1998, this consisted of a total of 90 companies. Both quantitative and qualitative data were collected and analysed in investigating the relationship between TQM implementation and labour productivity. Detailed survey responses from 76 participating companies were classified into two groups: high-level TQM implementation and low-level TQM implementation. About 60% of these companies were classified as companies with high-level TQM. Descriptive analysis of the survey responses plus company report data found that mean labour productivity measurements for companies with high-level TQM were significantly higher than for those with low-level TQM over the years (1993-1998). Also mean growth rates of labour productivity measurements for companies with high-level TQM were higher than for those with low-level of TQM during this period. Regression analysis demonstrated a statistically significant positive relationship between TQM and labour productivity. This relationship showed a high positive slope in companies with ISO 9000 certification, and considerably lower (but still positive) slope in companies without ISO 9000 certification.
Doctor of Philosophy (PhD)