Name Email-Id Text

IJGMSP (v1:n3)

Volume 1, Number 3


Does a Futures Contract Size Matter? Kumar.
The Attraction and Retention of Lower-Level Mexican Workers. Gonzalez.
A GARCH Analysis of Volatility in Country Indices. Brigida
Usability Evaluation of Game-based E-Learning Systems. Chandra and Theng.


Does a Futures Contract Size Matter? Yogesh Kumar

Indian Business School
Hyderbad, India


National Stock Exchange (NSE) revised Nifty futures contract market lot from 100 to 50 and introduced Mini Nifty futures contract on February 2007and on January 2008 respectively. This paper empirically examines the effects of two events on market quality of Nifty futures contract. We used volume and price volatility as measurements of market quality. Our empirical results suggest that two measurements of market quality of the original index futures (trading volume and price volatility) is positively impacted following revision of Nifty futures market lot and introduction of Mini Nifty futures contract does not have significant impact on market quality of Nifty futures contract which suggests that the Mini futures contract have successfully attracted smaller investors to the equity index futures market.

The Attraction and Retention of Lower-Level Mexican Workers
Melissa N. Gonzalez, Ph.D.

Associate Professor of Management
School of Business
University of Houston-Clear Lake
2700 Bay Area Blvd.
Houston, TX 77058


The attraction and retention of quality employees is an integral part of organizational human resources efforts and has been linked to organizational success. As companies begin increasingly realizing that human resources is one of their most important assets, the role of recruitment and retention in human resources management (HRM) needs to be in line with the firm's strategy formulation in identifying the people-related issues the organization encounters. The importance of recruitment and retention of employees applies not only to domestic organizations but to international companies as well. Despite of the economy, the turnover rate has been historically high especially with individuals of Hispanic background. The key may lie in effectively attracting the workers and keeping that attraction high to minimize turnover. An exploratory study using one-on-one interviews with Mexican workers was utilized to gather critical information in order for organizations to effectively attract and retain the lower-level Mexican workers.

Keywords: Maquiladoras, Mexican workers, attraction & retention, international human resources, international business management

A GARCH Analysis of Volatility in Country Indices
Matthew D. Brigida

Clarion University of Pennsylvania
840 Wood St., Still Hall 318
Clarion, PA 16214


This paper estimates the coefficients of the Heston-Nandi GARCH(1,1) model of the distribution of log-returns, for each country with an MSCI index as of 1996. These parameters are compared across developing and developed nations. I also test whether these parameters are affected by the level of governance in each country. I find that total risk, adjusted for kurtosis, is a significant predictor of whether the country is developed or developing. Further, I find that relative total volatility, between developed and developing nations, varies over time. Further, there is no constant relationship between governance indicators and the skewness or kurtosis of log-returns in the country indices. These results imply that financial analyses which rely on the distribution of returns, particularly derivative pricing and value-at-risk, may be implemented in the same fashion across developed and developing markets so long as the analyses account for differing first and second moments.

Usability Evaluation of Game-based E-Learning Systems
Shalini Chandra

Nanyang Technological University, Singapore
Yin Leng Theng
Nanyang Technological University, Singapore


The user-centered design for information systems exploits the capabilities of technology to address users' needs and preferences. This results in increased usability of the designed systems. In e-learning systems, in addition to being user-centric, they must be designed so that the learners are motivated to learn. This has resulted in merging learning with the motivation of games, and this trend of 'learning with fun' is becoming quite widespread so as to retain the learner's interest.

We propose 'Extended Reeves Heuristics for Evaluating Game based E-learning Systems', and evaluate three sampled e-learning software, taking care of usability, learnability and game-like features for effective 'learning outcomes'.

Keywords: Usability, e-learning, heuristic evaluation, learnability, playability, game-based learning