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nd Proceedings of International Conference on Economics and Social Sciences ICESS-2014 nd International Conference on Economics and Social Sciences ICESS-2014 Proceedings 2nd International Conference on Economics and Social Sciences (ICESS 2014) Bangkok, Thailand Febuaray1-2, 2014 ISSN:2307-7549 Organized by International Foundation for Research and Development (IFRD) i nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) Preface Dear Distinguished Delegates and Guests, The Conference Committee warmly welcomes our distinguished delegates and guests to the second International Conference on Economics and Social Sciences (ICESS 2014) held on February 1-2 in Bangkok, Thailand The ICESS-2014 is organized by International Foundation for Research and Development (IFRD) The conference is aimed at discussing with all of you the wide range of problems encountered economics and social sciences The ICESS-2014 is organized in collaboration with Yildirim Beyazit University, Turkey, Shinawatra International University, Thailand, PERTRE ANDERI of IASI, Romania and National Academy of Management, Ukraine where researchers from around the world presented their work The conference committee is itself quite diverse and truly international, with membership around the world The proceeding records the fully refereed papers presented at the conference The main conference themes and tracks are Economics, Social and Devleopment Sciences The conference aims to bring together researchers, scientists, engineers and practitioners to exchange and share their experiences, new ideas and research results about all aspects of the main conference themes and tracks and discuss the practical challenges encountered and the solutions adopted The main goal of the event is to provide a scientific forum for exchange of new ideas in a number of fields that interact in depth through discussions with their peers from around the world The conference has solicited and gathered technical research submission related to all aspects of major conference themes and tracks All the submitted papers have been peer reviewed by the reviewers drawn from the scientific committee, external reviewers and editorial board depending on the subject matter of the paper Reviewing and initial selection were undertaken electronically After the rigorous peer-review process, the submitted papers were selected based on originality, significance, and clarity for the purpose of the conference The conference program is extremely rich, featuring high-impact presentations The high quality of the program guaranteed by the presence of an unparalleled number of internationally recognized top experts The conference will therefore be a unique event, where attendees will be able to appreciate the latest results in their field of expertise, and to acquire additional knowledge in other fields The program has been strutted to favor interactions among attendees coming from many diverse horizons, scientifically, geographically, from academia and from industry We would like to thank the program chairs, organization staff, and members of the program committee for their work We are grateful to all those who have contributed to the success of ICESS-2014 especially our partners We hope that all participants and other interested readers benefit scientifically from the proceedings and find it stimulating in the process Finally, we would like to wish you success in your technical presentations and social networking We hope you have a unique, rewarding and enjoyable time at ICESS-2014 in Bangkok With our warmest regards, Conference Committee February, 1-2, Bangkok Thailand ii nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) ICESS-2014 Conference Committee Conference Chair John Walsh, Ph D., Shinawatra International University, Bangkok, Thailand Conference Co Chair K R Rao, Ph D, International Foundation for Research & Development Conference Convener Thanet Wattanakul, Ph D., Khon Kaen University, Nong Khai Campus, Thailand Members Sisira R N Colombage, Ph D., Monash University, Victoria, Australia Alexandru Trifu, Ph D., University, Petre Andrei, Iasi, Romania Nek Kamal Yeop Yunus, Ph D., Univerisiti Pendidikan Sultan Idris , Perak, Malaysia Dileep Kumar, M., Ph D., University Utara Malaysia, Malaysia Rishidaw Balkaran, Ph D., Durban University of Technology, South Africa R K Uppal, Ph D., DAV College, Punjab, India Ayhan Kapusuzoglu, Ph D., Yildirim Beyazit University, Turkey Nasina Mat Desa, Ph D., Universiti Sains Malaysia, Penang, Malaysia M Saman Dassanayake, Ph D., University of Colombo, Colombo, Sri Lanka Katalin Jackel, Ph D., Budapest Business School, Budapest, Hungary Wei-Bin Zhang, Ph D., Ritsumeikan Asia Pacific University, Japan Susantha Herath, Ph D., St Cloud State University, USA Somnath Sen, Ph D., University of Birmingham, United Kingdom Kevin Feeney, Ph D., American University in Bulgaria Zulnaidi Yaacob, Ph D., Universiti Sains Malaysia, Penang, Malaysia Johan de Jager, Ph D., Tshwane University of Technology, South Africa José G Vargas-Hernández, Ph D., University of Guadalajara, Mexico Izah Mohd Tahir, Ph D., University Sultan Zainal Abidin, Terengganu, Malaysia Chux Gervase Iwu, Ph D., Cape Peninsula University of Technology, South Africa Pratibha Samson Gaikwad, Ph D, Shivaji University of Pune, India Hamdan Said, Ph D., Universiti Teknologi Malaysia (UTM), Malaysia iii nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) 2nd International Conference on Economics and Social Sciences (ICESS-2014) Table of Contents Description Pages Preface iii Conference Committee iv Table of Contents v Papers vii The Role of State-Trait Anger and Anger Expression Styles Life Satisfaction and Self-Esteem in Predicting Physical Abuse and Emotional Abuse and Neglect, Ayşe Rezan CECEN-EROGUL, Şalibe Bilge TÜRK Assessing the Needs of People with Disabilities in the Emirate of Abu Dhabi, UAE, Eman Gaad Muslim Business Women in an Islamic State: Between Ideals and Reality,Ilhaamie Abdul Ghani Azmi, Mohamed Dahlan Ibrahim Analysis of Passenger Transportation Demand: Case Study of the Customs House, the ThaiLaos Friendship Bridge, Nong Khai Province, Sakkarin Nonthapot, Thanet Wattanakul The Effect of Top Management Support and Internal Control of the Accounting Information Systems Quality and Its Implications on the Accounting Information Quality, Sri Dewi Anggadini Chinese Economic Development and Leadership Strategy: The Challenges of Creating Competitive Advantage,Kinfu Adisu The impact of Climatic Factors on Knowledge Management Effectiveness, case study: Iranian Government Organizations, Abbas Mardani, Ehsan Kish Hazrat Soltan, Mahdi Mohammad Bagheri, Ali Af Asgari, Amir Ali Khalili Multidiscipline Approach to Water Resource Management, Nattakorn BONGOCHGETSAKUL, Pongsak SUTTINON, Kotomi UEMOTO, Seigo NASU Nation-state: What is the good of it?, Ahmet Nuri Yurdusev Rationalizing the Choice of Housing on Cultivable Land: Is Cash-return the only Determinant? Zobayer Ahmed, Pronab Kumar Saha The Impact of Service Delivery Method to Increase the Volume of Sales in Restaurants that Service Fast Food, Marzouq AL-Qeed Spillover Effects on Relative Demand For Skilled Labour In Malaysian Manufacturing Industries, Norhanishah Mohamad Yunus, Rusmawati Said, Wan Azman Saini Wan Ngah Assessing Risk and Risk Mitigation Strategies of Small Coffee Growers: A Study in Kodagu District in Karnataka, India, Deepika M G, Amalendu Jyotishi A Conceptual Framework for Antecedents and Consequence of Organizational Learning Capability, Azharuddin Hashim Determining of Misconceptions by Means of Tree-Tire Test about the Unit Human and Environment, Erol TAŞ, Evşen AYMEN PEKER, Murat ÇETİNKAYA An Examination of the Causal Relationship between Budget Deficit and Inflation: A Case Study of Lao PDR, Phouthanouphet Saysombath, Phouphet Kyophilavong Investigating the Relationship between Assets and Stock Returns of Listed Companies in the Food Industry of Tehran Stock Exchange Market, AlirezaFazlzadeh, Abbas Talebbeydokhti Does ASEAN-Korea FTA Reduce Poverty in Laos? The Roles of FDI and Trade Facilitation Jeong-Soo OH, Phouphet KYOPHILAVONG iv 12 17 22 30 34 42 49 51 60 62 68 80 85 91 96 99 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) One Village One Product (OVOP) in Japan to One Tambon One Product (OTOP) in Thailand: Lessons for Grassroots Development in Developıng Countrıes, Nguyen Thi, Anh Thu The Relationship between Firm Strategy, Capital Structure and Firm Performance, Abbas Talebbeydokhti, Alireza Fazlzadeh Validation of a Turkish Language Version of the Resistance to Change Scale, Aylin Aktaş Alan, Ece Ömüriş, V Rüya Ehtiyar, Cem O Guzeller* Mediating Role of Supply Chain Integration on Relationship between Information Sharing, Knowledge Sharing and Flexibility Performance,Ali Af Asgari, Abu Bakar Abdul Hamid, Azam Haghkhah, Mahdi Mohammad Bagheri, Abbas Mardani, Effect of Volatility Changes on Emerging Stock Markets: The Case of Jordan, Marwan Mohammad Abu Orabi The Opinions of Elementary Students from Different Cultures about the Nature of Science, Mustafa Dogru, Fatih Şeker, Tuna Gencosman Factors Influencing Educational Adjustment among English Medium Students in Kottayam Diocese, Kerala, India: A Path Analytic Study, Parvathy Varma and Marykutty K.L University-Industry Relations and Technological Capabilities Building In Turkish Automotive Industry: A Technological Regime Based Approach, Cem Okan TUNCEL, Çağatan TAŞKIN The Big Five Personality Influences Against Purchasing Impulsive: Survey on Mallvisitors in Bandung city, Raeni Dwi Santy SE., M.Si The difference between consumers’ and manufacturers’ gender classification of perfumes Anna Lindqvist Not working while at work: resistance, adjustment and the in-between, Roland Paulsen Supervisory Support as an Antecedent for Transfer of Training, Vangeli Gamede Analyzing the Characteristics of Spatial Configuration in Rural Villages Using Space Syntax : Focused on Busu Region, Boeun Gun, Korea, Hye-Mi, Woo, Joong-Shuk, Youn, Young Un, Ban, Jong In, Baek, Na Rae, Choi, Yu Mi, Kim Assessing the Impact of Social Networking Sites on the Study Habits of University Students of Bangladesh, Abu Naser Mohammad Saif, Ishpeea Momota Alternative Spatial Layout Plan for Building an Innovation Cluster Using Space Syntax: Focus on Chungbuk Innovation City, Yong Un Ban, Jae Ho Jung, Kyung-Min Han, Jong In Baek, Na-Rae Choi Analyzing the Determinants to Affect the Satisfaction Level of Greenway Users, Han, KyungMin, Kim, Yu-Mi, Ban, Yong-Un Factors Influencing Wheelchair Accessibility in Newly Built and Old Districts, Jong In, Baek, Yu Mi, Kim, Young Un, Ban, Tae Soon, Kim Cultural Dimensions’ Influence on Self Service Technology in Retail Settings of India and Indonesia, Deblina Saha Vashishta, B Balaji Students’ Assessment of B-School Education, Manikandan D, Prithiviraj D Comparison Analysis of Urban Spatial Configuration between Seoul and Pyongyang City Using Space Syntax, Ban Yong Un, Lee Tae Ho, JuGi Hun Development of Transportation Justice Index in Korea, Yong Un, Ban, Cheol Hee, Son, Jong In, Baek, Na Rae, Choi A Study on the Development of Definition and Planning Indicator for Green Industrial Park Ban, Young Un, Jeong, JiHyeong, Lee, Tae Ho, Jeong, Hun Kun Implementation Of Cooperatives’ Principles On Ranked-Cooperatives, East Java 2012, Wıwıek Harwıkı, Ruswıatı Suryasaputra The association between the Socioeconomic Status and the magnitude of HiV/Aids in Kinshasa Christian Ayikwa, Johan W De Jager, 3Ben J van Rensburg Statistical models for Mobile telephony growth in Oman, Ahmad, M I*, Alsaadi, M K, Almamri, A Unexpected Quarterly Earnings Announcements, Firm Size, and Stock Price Reaction, Sana Tauseef v 105 111 120 127 131 136 144 153 158 163 164 165 171 177 180 189 197 203 210 214 223 232 239 246 251 256 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) Sustainable Local Economic Development: The Role of Informatics in Determining Municipal Revenue Management, Michael Twum-Darko Advertisement Reading Manner: A Reception Study, Atılım Onay Status of Divine Word Colleges in Region 1, Philippines , Maria Veronica,Callanta-Fontanilla, Ed D Natural Disasters, Family Expenditures and Food Demand, Eny Sulistyaningrum, Ian Walker, Kwok Tong Soo A Public Sector Recruitment Policies: Efficiency, Effectiveness and Consequences, Obianuju E Okeke-Uzodike, Pepukayi Chitakunye Global Governance and Turkey’s Position in the Post-Global Crisis Period,Zehra Vildan SERİN, Beyza Oktay Good Agricultural Practises in Turkey and Consumer Behaviours: Logit Regression Analysis O.Karkacıer, Akdeniz, S Karabaş, O Sav,Akdeniz Entrepreneurship Aspects of Teaching and Learning: Levels of Practice Instilled by Lecturers and Existing Achievements of Students in Private Institutes of Higher Learning, Rosima Alias, Nora Dato’ Yahya Hybrid input-output model for water management, Pongsak Suttinon, Seigo Nasu, Takeo Ihara, Nattakorn Bongochgetsakul, Kotomi Uemoto The Impacts of Liberalization in Casino-based Economy: The Case of Macao, Pi-Feng Hsieh, SuMan Wang Level of Development and Size of Government Spending: The Impact on Entrepreneurial Entry of Opportunity-driven and Necessity-driven Female vs Male Entrepreneurship, Thanyaporn Soontornthum vi 264 272 276 280 289 295 301 305 311 316 322 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) 2nd International Conference on Economics and Social Sciences (ICESS-2014) PAPERS vii nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) The Role of State-Trait Anger and Anger Expression Styles Life Satisfaction and Self-Esteem in Predicting Physical Abuse and Emotional Abuse and Neglect *Ayşe Rezan CECEN-EROGUL1, Şalibe Bilge TÜRK2 1Mugla Sıtkı Kocman University, İstanbul, 2Abdurrahman Köksaloglu Ortaokulu, MEB rezancecen@mu.edu.tr Abstract: Child maltreatment is a common problem for all societies all over the world The aim of the study to investigate the role of state-trait anger and anger expression styles life satisfaction and self-esteem in predicting physical abuse and emotional abuse and neglect The sample consisted of 450 adolescents and to collect data “Childhood Trauma Questionnaire”, “ State-Trait Anger Expression Inventory”, “Rosenberg Self Esteem Scale” “Satisfaction of Life Scale” have been applied to the students The findings of this study indicated that there were moderate positive significant correlations between physical abuse, emotional abuse- neglect and trait anger, anger in, anger out and significant negative correlations between physical abuse, emotional abuse-neglect and anger control life satisfaction, self-esteem The stepwise regression analysis results indicated that life satisfaction, trait anger, self-esteem and anger in scales scores contributed meaningfully and anger out, anger control scores did not contributed meaningfully to physical abuse The results revealed that life satisfaction was the best predictor of physical abuse and it’s scores account for 17% total variance F (1, 450) = 94.414; p Government tax before 2002 o: Government tax after 2002 = Government tax before 2002 p: Based on Negative Ranks q: Two tailed significance levels N 0a 11b 0c 11 0d 11e 0f 11 0g 11h 0i 11 0j 11k 0l 11 0m 11n 0o 11 Mean Rank 5.5 Sum of Rank 60.5 5.5 60.5 5.5 60.5 5.5 60.5 5.5 60.5 Z-value P-valueq -2.803p 005 -2.803p 005 -2.805p 005 -2.803p 005 -2.803p 005 The forecasting of economic performance: Liberalization is demonstrated to be beneficial to the casino-based economy in the first part of this study The next question is: how long and how strong will this positive effect last? According to the information from American Gambling Association, gambling and gambling revenues started to decrease in 2008 Revenue in the national commercial 318 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) casino sector dropped about 4.7% compared to 2007 Gross gaming revenues went down every month since February 2008 compared to the same month of the previous year, and as the recession got worse, monthly revenue decreases have become more significant (Horváth & Paap, 2012) To test the continuing influences of gambling industry liberalization, this study predicts the GDP per capita in Macao from 2013 to 2015 based on the data from 2008 to 2012 Grey Model (Deng, 1982) is applied to forecast under uncertainty The following illustration details the method used to construct the model adopted herein by creating a sequence of one order linear moving GM (1, 1) (Deng, 2000) Table 3: Economic indicators from 2008 to 2012 Year GDP per capita Population Land Gambling tax Government total tax 2008 2009 2010 38,552 39,761 52,918 543.1 533.3 540.6 29.2 29.5 29.7 5,237 5,539 8,597 6,385 7,205 11,061 2011 2012 67,247 76,615 557.4 582.0 29.9 29.9 12,457 14,172 15,372 18,124 Source: Statistics and Census Service of the Macao Special Administrative Region, 2013 Macao primitive sequence x x ( 0) 0  is constructed based on GDP per capita from 2008 to 2012 in Table That is  38,552, 39,761 52,918 67,247, 76,615 1 One order AGO sequence of x (1)  38,552 78,313, 131,231 198,278, x 275,093 is derived as In addition, matrix B and constant vector yn are accumulated as  78,313  1   58,432.5 131,231    104,772 ，   yn     198,478    164,854.5 1     1 275,093  236,785.5 aˆ is acquired as a    0.2066027  aˆ       b  29960.64891 The forecast model of GDP in Macao is acquired by substituting a and b into forecasting equation to obtain the following: xˆ 0  k   145,015.759654e 0.2066027k 1 1  e 0.2066027 (1) By substituting k=2,3,4,5 into equation (1), the total forecast values of GDP per capita in Macao is obtained as 38,552, 42,128, 51,796, 63,683 and 78,297 from 2008 to 2012, respectively The sequence of reduction is:  ( 0) x  38,552 42,128 51,796 63,683 78,279 The forecast value, actual value and residual error can be obtained by substituting x 0  k  and x 0  k  , k  2,3,4,5 into forecasting equation separately Given k=6,7,8 from forecasting equation, this research forecasts the GDP per capita in Macro from 2013 to 2015 to be 96,266, 118,359, and 145,521, respectively Table shows the forecast value, real value and the residual error of GDP per capita in Macao The average residual error is 3.89%, and the average of accuracy is 96.11% These statistics suggests the good predictive ability of this model Table 4: Forecast value, real value and residual error of GDP per capita in Macao Year k Real value Forecast value 2008 38,552 38,552 2009 39,761 42,128 2010 52,918 51,796 2011 67,247 63,683 2012 76,615 78,297 2013 96,266 2014 118,359 2015 145,521 Residual (%) 5.95 2.12 5.30 2.20 - Repeating the foregoing steps, the data of population, land, gambling tax, and government total tax are operated to construct the predictive formulas as the followings: Population: xˆ 0  k   17,051.485451e0.0296199k 1 1  e0.0296199 .(2) Land: xˆ 0  k   6,241.8857144e0.0046995k 1 1  e0.046995 (3) Gambling tax: xˆ 0  k   14,584.272321e0.2793356k 1 1  e0.2793356 (4) Government tax: xˆ 0  k   19,100.112793e0.2769051k 1 1  e02769051 (5) 319 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) Given k=6,7,8 from forecasting equation, population, land, gambling tax, and government total tax from 2013 to 2015 are forecasted and shown in Table5 The average residual error of GDP per capita, population, land, gambling tax, and government total tax are 3.89%, 7.40%, 1.69%, 7.90%, 6.7%, respectively, suggesting the good predictive ability of this model Table 5: The forecast value and real value of economic indicators in Macao 2009 2010 2011 2008 (k=1) (k=2) (k=3) (k=4) Real value 38552 39761 52918 67247 GDP Forecast value 38552 42128 51796 63683 per capita Deviation (%) 0.0595 0.0212 0.053 Real value 543.1 533.3 540.6 557.4 POP Forecast value 543.1 528.94 544.85 561.23 Deviation (%) 0.0082 0.0079 0.0069 Real value 29.2 29.5 29.7 29.9 Land Forecast value 29.2 29.541 29.68 29.82 Deviation (%) 0.0014 0.0007 0.0027 Real value 5237 5539 8597 12457 Game Forecast value 5237 6387.4 8445.8 11167 Deviation (%) 0.1532 0.0176 0.1035 Real value 6385 7205 11061 15372 Gov Forecast value 6385 8130.8 10725 14147 Deviation (%) 0.1285 0.0304 0.0797 2012 (k=5) 76615 78297 0.022 582 578.1 0.0067 29.9 29.96 0.002 14172 14766 0.0419 18124 18660 0.0296 2013 (k=6) 2014 (k=7) 2015 (k=8) 96266 118359 145521 595.48 613.38 631.82 30.101 30.243 30.385 19525 25816 34136 24613 32466 42824 Economic indicators are predicted to keep increasing after the recession in 2008 Gambling tax expands the most of 32.23% Secondly, government tax increases 31.90%, and then GDP per capita increases 22.95% Conclusion, limitation, and future research This research examines the economic impacts stimulated by the gambling liberalization in terms of GDP per capita, population, lands, gambling tax, government total tax, and finds the statically significant growth in every economic indicator The research results is in line with Zheng & Hung (2012)’s study in evaluating the economic impacts of Casino liberalization in Macao Zheng & Hung propose that the decision to end casino gambling monopoly immediately set off an exponential growth in GDP Even in 2008 when the global economy was heavily struck by the financial tsunami, the Macao economy still recorded a 10.7% increase in GDP per capita Our studies further make the statistic test to proof the positive effects on economic performance by gambling liberalization Besides, to evaluate the continuing influences of liberalization, the economic performance after recession of 2008 is forecasted Research results demonstrate that all the economic indicators keep growing even during and after the economic recession This is different from the research of Horváth & Paap (2012) examining the influence of the business cycle on expenditures of gambling activities in the United States and find that economic recession negatively affects the gambling expenditure The future research is suggested to understand the reasons why the case in the East is different from that in the West The limitation of this study is based on the data collection Some more economic indicators like employment (Giacopassi et al., 1999; Long, 1996; Pizam & Pokela, 1985), migrant workers (Loi & Woo, 2009; Zheng & Hung, 2012), and price (Zheng & Hung, 2012; Shaw & Coles, 2007) can be included to describe the economic performance more completely Besides, the economic spillover and positive multiplier effect created by gambling industry (Agarwal, 2012; Vong, 2008; Garrett, 2004) can be considered to provide a stronger illustration and implication to the research findings Reference Agarwal, S (2012) Resort Economy and Direct Economic Linkages Annals of Tourism Research, 39(3), 1470-1494 Balsas, C.J.L (2013) Gaming Anyone? 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Opportunity-based and necessity- based entrepreneurship; Female Entrepreneurship; Government Spending; Institutions Introduction Recently, women entrepreneurial activities have outpaced significantly the male activities across in the developed and developing countries (Minniti and Naudé 2010) However, the stylized facts point out that women still own and manage significantly fewer businesses than men approximately one-third of the world’s entrepreneurs (Allen et al 2008), and the female shares vary across countries from 26.1 percent in Peru to 1.4 per cent in Latvia I try to present that part of the reason for fewer female entrepreneurs is due to the quality of local institutional context faced by economic agents And the success of some countries having a high rate of female entrepreneurs is due to country’s ability to manage the right institutional context for both male and female entrepreneurship to flourish by reducing the cost of engaging in entrepreneurial activities This is supported by several studies38 that find diverse prevalence of entrepreneurship across countries.‎ The last period of development aid and policy has not been rewarded with success in economic performance and development Part of this is probably because the focus on macro approaches and policies, which did not emphasize the local institutional context faced by economic agents The recent development in entrepreneurship research is put forward by Casson (1982) and Wennekers & Thurik (1999) to explain the probability of becoming entrepreneur from institutional perspectives However, scholars suggest that research on gender difference is understudied (e.g., Brush 2006; Minniti and Naude 2010), and there are few studies drawing from institutional economics to study gender aspect of entrepreneurship (e.g., Verheul et al., 2006) Built upon Aidis, Estrin & Mickiewicz (2007) and Estrin & Mickiewicz (2009), this study discusses into gender difference of entrepreneurship by linking Kirzner’s concept39 of entrepreneurial alertness (1973) with institutional context in the different level of development to explain entrepreneurial entry of opportunity- and necessity- based female entrepreneurship versus those of male entrepreneurship The major purpose is to understand whether the female and male entrepreneurial activities response differently to institutions across levels of development This study therefore frames two sets of research question as follows: 1) Does institutional context have more pronounce effect on female entrepreneurs rather than male entrepreneurs? And what is the different effect across three levels of economic development? 2) Does institutional context have more pronounced effect on opportunity-based female entrepreneurs rather than that of male entrepreneurs? And what is the distinct impact across three levels of economic development? Literature review and theory Opportunity-necessity entrepreneurship ratio: Reynolds et al (2002) distinguish the entrepreneurial motives as either opportunitybased or necessity-based Opportunity-based entrepreneurship refers to entrepreneurs who involves in start-up to take advantage of opportunity; meanwhile, entrepreneurs who identify no better option available for work are classified as necessity entrepreneurs (Hechavarria & Reynolds, 2009) The cross-country comparison reveals that necessity-motive entrepreneurs are often found in developing countries while entrepreneurship in advanced countries is often opportunity-driven (Reynolds et al., 2002; Bosma et al., 2008) However, non-opportunity entrepreneurs are not likely to have an effect on the restructuring of the poor economies (e.g., Hausmann & Rodrik, 2003; Rodrik, 2007) Verheul et al (2010) suggest the distinct characteristics between them such as style of managing business may lead to different contribute to economic development Acs et al (2008) suggest that opportunity-necessity entrepreneurship ratio is basically an indicator of economic development “as more and more of the population becomes involved in opportunity entrepreneurship and as more and more people leave necessity entrepreneurship (self-employment) the more we see rising levels of economic development” We thus expect that using the opportunity-necessity entrepreneurship ratio as dependent variable will capture the effect of institutions on economic development via the entrepreneurial activities The diverse prevalence of entrepreneurship across countries point to influence of level of development (e.g., Wennekers, van Stel, Thurik, & Reynolds, 2005; Acs, Desai, & Hessels, 2008) and institutions (e.g., Baumol, 1990; Levie & Autio, 2008; Aidis, Estrin & Mickiewicz, 2009) on entrepreneurship 38 Traditional views of entrepreneurship are shaped by Schumpeter, Kirzner and Knight Schumpeter emphasizes the inherent disequilibrium nature of market dynamics which see entrepreneurial activity as innovation activity pushing the economy out of equilibrium Kirzner stresses alertness to exploit opportunities of entrepreneurs which have two functions as providers of entrepreneurial inputs and receivers of a return for bearing risk Knight explains entrepreneurs in two functions which are to exercise responsible control and secure the owner of productive services against uncertainty in their incomes 39 322 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) Institutions and female vs male entrepreneurship: Baumol (1990) observes that features of incentive structure in economy have impact through entrepreneurial activities He argues that institutions affect quality of entrepreneurial activities in economy because entrepreneurs model their strategies to fit opportunities and limitations in institutional setting (North, 1990) Therefore institutions provide indirect effect on people’s alertness to economic opportunities (Harper, 2003) Sobel (2008) empirically tests Baumol's conjecture and confirms that areas with better institutions have more productive entrepreneurship and less unproductive entrepreneurship This findings influence policy perspective toward institutional development which enhances economic development through building a capacity for individuals to harness new ideas and enter market as productive entrepreneurs Estrin & Mickiewicz (2009) point that gender difference and discrimination arises between female and male entrepreneurs because behavioral consistent from informal institutions at embeddedness or cultural level The ineffective institutions can be maintained mainly because of influence of path dependence from cultural institutions Elam & Terjesen (2010) also argue that the difference between female and male entrepreneurship is rooted at the level of tradition which is institutionalized in the form of practices and eventually influence the implementation of laws and regulations Aidis et al (2007, p.19) emphasize that male and female entrepreneurs “are different in deeply rooted in cultural patterns, which are slow to change” Such ineffective institutions can be maintained mainly because of influence of path dependence from cultural institutions Institutions therefore determine economic behavior (North, 1990) and economic transactions (Williamson, 1998; 2000) of male and female entrepreneurs differently, and their change may give different implication for female and male entrepreneurs Minniti & Naude (2010) also argue that this constrains possibly affect women more than men Minniti (2010) evidently shows that there is significantly stable difference between men and women entrepreneurship across countries Participating rates of men tend to be 50 per cent higher than those of women and, interestingly, countries with higher rates of male entrepreneurs are likely to have higher percentages of female entrepreneurs In this sense, female and male entrepreneurs may be facing different institutional problems that impede them to fully participate in economic activities Levie & Autio (2008) suggest that analyzing male and female entrepreneurship rate separately might show different institutional conditions that matter for males and females Level of Development, institutions and entrepreneurial activities: Female versus male entrepreneurship: Fogel, Hawk, Morck & Yeung (2006) and Acs et al (2008) offer a link between institutions and level of development in entrepreneurship research They argue that better system in developed economy generate more entrepreneurial activities, and those entrepreneurs can contribute more to economic development Advanced economy is believed to be favorable for economic development due to more favorable institutions facilitates individuals/entrepreneurs with perceived opportunities (Aidis et al., 2007) Similarly, Audretsch & Thurik (2004) report high rates of entrepreneurial activities in developed economies, which is a switch from a managed toward entrepreneurial economy Carree, van Stel, Thurik, & Wennekers (2002) and Wennekers et al (2005) report a U-shaped relationship between the country’s rate of entrepreneurship and its level of development They also report that the U-shaped relationship is held for opportunity-based entrepreneurship Meanwhile, the institutional failures in developing countries delay development of economy because such economies generates low rate of opportunity-driven entrepreneurs (e.g., Reynolds et al., 2002; Naude, 2010; Stam & van Stel, 2009) We can thus expect that, as countries develop into more advanced economy, opportunity-based entrepreneurship (female and male) is more likely than necessity-based entrepreneurship to start entrepreneurial activities Therefore level of development has profound influence on opportunity-based entrepreneurship and the development of economy as a consequence Acs et al (2008) emphasis the difference in entrepreneurial contributions among countries depended on institutions which affect other characteristics such as quality of governance, access to resource and entrepreneurial perception This aligns with Baumol (1990) who argues that features of incentive structure in economy have impact through entrepreneurial activities because, as North (1990) observed, individuals model their strategies to fit opportunities and limitations in institutional setting Sobel (2008) also found better institutions have more productive entrepreneurship and less unproductive entrepreneurship Similarly, Aidis et al (2007) find a stronger effect of institutions on opportunity-driven entrepreneurship in more developed economies We can thus expect that creating enable institutional environment is a means to enhance economic development as this build a capacity for individual to harness new ideas and enter market as productive entrepreneurs Aidis et al (2007) push forward by providing evidence showing that there is a stronger effect of institutions on opportunity-necessity entrepreneurship ratio in more developed economies Correspondingly, Gries & Naude (2010) argue that institutional changes create opportunity-driven entrepreneurship Their findings confirms the notion that institutions are prerequisites for promoting entrepreneurship (e.g., Valliere & Peterson, 2009; Stam &Van Stel, 2009), and poor institutions discourage opportunity-based entrepreneurs (Aidis et al., 2007) Once developing countries stepping into middle income economy, there are more employment opportunities for women, and female entrepreneurs tend to quit if better jobs available (Allen et al., 2007) Meanwhile, Neumark and McLennan (1995) found that at the high end of economic development, women are able to exploit opportunities and start businesses even their employment opportunities are stable and open.‎Terjesen & Amoros (2010) found the Ucurve relationship between income level and opportunity-based female entrepreneurship using time-series countries level data of Latin America countries Interestingly, as pointed out by Verheul et al (2006), while the U-shaped relationship is obvious for female entrepreneurial activity rate, there is no such pattern for the male entrepreneurial activity We thus can expect that institutional environment and its change may give different impact and implication for female and male entrepreneurs Hypothesis development Government spending as fundamental institutions: Fundamental institutions that have been argued to influence female and male differently are property rights, corruption, business regulations and size of state sector (Estrin & Mickiewicz, 2009) and financial development (Korosteleva and Mickiewicz 2011) Based on the previous study, the institutional variable employed this study is the size of government spending I conjecture that government spending can be seen as fundamental institutions in that a large government budget directly affects the collection of taxes from the return of entrepreneurial investment, and reflects strong institutions that may cause weak protection of property rights, corruption behaviors, and consequently more barriers to entrepreneurs Contrast to the institutional logic above, some believe that government spending is means to create entrepreneurs in economies Thus it is worth to investigate into the effect of size of government spending in order to lessen reluctant implication for entrepreneurship policy, and understand how such impact gives different implication for female and male entrepreneurship 323 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) Government spending and opportunity-based entrepreneurship: As discussed above, government spending reflects the high spending of government budget Government spending may lessen the opportunity-based entrepreneurship It is found that the high level of unemployment support (Koellinger & Minniti, 2009), welfare support, and state-owned enterprises has been agued to increase entrepreneurs’ opportunity cost and reduce net expected return (Parker, 2004) The low rate of entrepreneurial activities may occur as a consequent e.g., Sweden (Henrekson, 2005) Similarly, Henrekson (2007) argues that high taxes may spur self-employment but reduce productive entrepreneurship Moreover, high tax rates encourage entrepreneurship in the black market and evasive entrepreneurship such as the production of legal services helping productive entrepreneurs to lower their effective tax rate Hypothesis 1: Opportunity-based (female and male) entrepreneurs are less likely than necessity-based entrepreneurs to start entrepreneurial activities in countries where the size of government spending is larger.(-) Level of development and opportunity-necessity entrepreneurship ratio: Aidis et al (2007) argue that more favorable institutions are linked with perceived opportunities and facilitate opportunity-based entrepreneurship This argument is supported by the higher ratio of opportunity-necessity entrepreneurship in high-income countries rather than in middle and low income countries (Acs et al., 2005) As discussed earlier, the opportunity entrepreneurship tends to be more prevalent in high-income countries, while necessity entrepreneurs are more common in the low-income countries This is because the favorable institutions in high-income economy facilitates more on opportunity-based entrepreneurship (Aidis et al., 2007), meanwhile the institutional failures in developing countries delay development of economies via generating low rate of opportunity-driven entrepreneurs (e.g., Reynolds et al., 2002; Naude, 2010; Stam & van Stel, 2009) Thus we could expect that more developed economies have greater effect on the opportunity-necessity entrepreneurship ratio Additionally, institutions should have greater effect on the opportunity-necessity entrepreneurship ratio in more developed economies as well Hypothesis 2: Opportunity-based (female and male) entrepreneurs are more likely than necessity-based entrepreneurs to start entrepreneurial activities in more developed economies.(+) Allen et al (2007) found that once countries develop into middle-income stage there are more employment opportunities for women in companies or manufacturing; consequently, women entrepreneurs tend to decrease Neumark and McLennan (1995) found that at the high end of economic development, women are able to exploit opportunities and start businesses even their employment opportunities are stable and open When taking entrepreneurial motives into account, previous GEM reports (e.g., Minniti et al., 2006; Allen et al., 2008) and Verheul et al (2006) confirm the high rates of necessity-based entrepreneurship in low- and middle- income countries, especially in women entrepreneurship; meanwhile, more developed countries have higher shares in opportunity-driven women entrepreneurs (Allen et al., 2008) Therefore it seems that there is a relationship between the levels of development and the rate of entrepreneurial activities for women entrepreneurial activities Terjesen & Amoros (2010) confirm the U-curve relationship between income level and opportunity-based female entrepreneurship using time-series countries level data of Latin America countries Interesting, as pointed out by Verheul et al (2006), while the U-shaped relationship is obvious for female entrepreneurial activity rate, there is no such pattern for the male entrepreneurial activity rate Therefore, we would expect that the effect of level of development is more pronounced for the opportunity-necessity entrepreneurship of female ratio than the male ratio Hypothesis 2a: Level of development has more pronounced effects on the opportunity-necessity ratio of female entrepreneurship than that of male entrepreneurship (Female>Male) Government spending and female and male entrepreneurship: Following the Estrin and Mickiewicz’s line of reasoning (2009), it can be argued that difference between female and male entrepreneurial activities is linked to social structure which women are more responsive to trade-offs between domestic work and employment; consequently, women should respond more strongly to additional expense when abilities of state to provide basic supports/ services are low, and more negatively response to the larger size of government spending For instance government expenditure affects them via higher taxes Unlike women, men are in more gender advantage position in dealing with state while women are strongly affected than men because of a gender specific pecking order within family Hypothesis 3: Size of government spending has more pronounced negative effects on the opportunity-necessity ratio of female entrepreneurship than that of male entrepreneurship (-) Illustration of framework Institutional context: Size of government spending (H: Female>Male) Level of development: (H3: Opp>Nec) (H2: Opp>Nec) (H2a:Female>Male) The opportunitynecessity ratio of FEMALE entrepreneurship The opportunitynecessity ration of MALE entrepreneurship Low-income level (-) Transition (-) Data and methods High-income level (+) 324 nd Proceedings of International Conference on Economics and Social Sceinces (ICESS-2014) Size of government spending and GDP pc ppp are collected from Economic Freedom Index 2006 (Heritage Foundation 40) and World Bank-World Development Indicators (WB-WDI)41 respectively The size of government spending (institutional variable) is transformed to natural logarithms for better distribution GDP is group by level of development42 This measure is used by Wennekers et al (2005) as one of the main measures of economic development and Minniti (2010) in study of female activities and economic development Entrepreneurship data by opportunity and necessity motives are collected from Global Entrepreneurship Monitor (GEM) 43 The GEM questionnaires inquired if the start-up initiative was voluntary or necessity; for example, the question used for interview is quoted as follow: “Are you involved in this new business to take advantage of a business opportunity or because you had no better choices for work?” If the respondents stated they involved in start-up to take advantage of opportunity, they are categorized as opportunity entrepreneurs If they indicated no better option for work, they are classified as necessity entrepreneurs Opportunity-necessity ratio of female and male at country level from 42 GEM nations in 2006 are used as dependent variable in this gender comparative study because this study involves institutions that take long time to change and is more interesting in comparative perspective (Estrin & Mickiewicz, 2009) Moreover, GEM data is useful to capture informal entrepreneurial activities (Stam & van Stel, 2009) which are expected as significant entrepreneurial activities in transition and developing economies of this study To test hypotheses, we compare the impact of determinants on opportunity-necessity entrepreneurship ratio of both genders We regress several model specifications with OLS regression to deal with possible multicollinearity, and then utilize seemingly unrelated regression (SUR) for robustness check Additionally, we regress the opportunity-based and necessity-based entrepreneurship on the same determinants to obtain deeper analysis We include size of informal finance as control variables Moreover, our model allows the possibility of different effects for development levels which are normally treated as control variables in other studies In addition, our model tests the effect of institutions by different levels of development using interacting variables Empirical results Our core models are model and model (Table 1) which produce (adjusted) R = 0.3877 and 0.4291 respectively in explaining the female ratio; however, the same set of variables in model and can explain the male ratio only 14.06% and 19.36% respectively To test hypothesis and 2a, we analyze the regression results in table There is a positive relationship between GDP and the opportunitynecessity ratio of both female and male entrepreneurship at 0.05 significant level; however, the effect is very small (0.0001 more unit, See model 2) This is perhaps because the effect of GDP pc is included in the effect of size of government spending We therefore make a further analysis by replacing GDP with dummies of development levels (model 1) Irrespective of significant level, there is indication of an interesting relationship between development levels and the female ratio from the coefficients of development levels in model 1(almost U-shaped with the short tail in low-income level and very high tail in highincome level) The female ratio is considered as moderate in low-income countries, but it is lower in transition countries, and the ratio turns up to be very high in high-income group For the male ratio, the relationship seems to be the same pattern but the overall male ratio is lower than the female ratio for every level of development This empirically confirms that level of development has a greater effect on the opportunity-necessity female ratio than the men ratio, and Hypothesis 2a is confirmed Nevertheless, the results make us reluctant to confirm Hypothesis as low-income countries have higher opportunity-necessity entrepreneurship ratio than transition countries This indicates that the relationship between level of development and the opportunity-necessity ratio may be non-linear For hypothesis and 1a, the effect of government spending in Model (Table 1) negatively influences the female ratio at p