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  • The International Journal of

    Nepalese Academy of Management

    Guest Editor Prof. G.D. Sardana Professor, Operations Management Editor, South Asian Journal for Business and Management Cases Chairman, Bimtech Centre for Business and Management Cases Birla Institute of Management Technology, Greater Noida, India. Chief Editor Prof. Dr. Dev Raj Adhikari Founding President - Nepalese Academy of Management Dean- Faculty of Management Tribhuvan University, Nepal Managing Editor Dhruba Kumar Gautam, Ph.D. Associate Professor Tribhuvan University, Faculty of Management Founding Secretary - Nepalese Academy of Management P.O. Box 12719, Kathmandu, Nepal

    The International Journal of Nepalese Academy of Management

    Volume 2, Number 1, 2014 Kathmandu

    ISSN: 2091-2471 (Print) ISSN: 2091-248X (Online)

  • Administrative Assistants Prativa Sharma, Nepalese Academy of Management SumanPaudel, Nepalese Academy of Management Krishna Pokhrel, Nepalese Academy of Management International Editorial Advisory Board Prof. Dr. Chris Brewster, Henley Business School, University of Reading, UK.

    Prof. Dr. Garry D. Bruton, Neeley School of Business, USA.

    Prof. Dr. Farok J. Contractor, Rutgers Business School, USA

    Prof. Dr. Rajneesh Narula, John H. Dunning Center for International Business, UK

    Prof. Dr. Tony Fang, Stockholm University, School of Business, Sweden

    Prof. Dr. Michael J. Morley, Kemmy Business School, Univ. of Limerick, Ireland

    Prof. Dr. Katsuhiko Hirasawa, Nihon University, College of Commerce, Tokyo, Japan

    Prof. Dr. Stephan Laske, Dept. of HRM, University of Innsbruck, Austria

    Prof. Dr. R. SatyaRaju, Dept. Com. & Mgmt. Andhra University, India

    Prof. Dr. Geoffrey Wood, University of Warwick, UK

    Prof. Dr. Yutaka Takakubo, Nihon University, College of Commerce, Tokyo, Japan

    Prof. Dr. G. D. Sardana, Birala Institute of Management and Technology, India

    Prof. Dr. Roy J. Adams, Ariel F. Sallows, University of Sankatchewan, Canada

    Prof. Dr. Marc Goergen, Cardiff Business School and ECGI, UK

    Prof. Dr. Jyotsna Bhatnagar, Management Development Institute Gurgaon, India

    Prof. Dr. Anne Cox, University of Wollongong, Australia

    Prof. Dr. Wang Guo-An, Zhejiang Gongshang University in Hangzhou, China

    Prof. Dr. Subarna K. Samanta, School of Business, The College of New Jersey, USA

    Prof. Dr. Felicity Wood, University of Fort Hare, South Africa

    National Editorial Advisory Board Prof. Dr. Prem Raj Pant Prof. Dr. Puskar Bajracharya Prof. Dr. Govinda Ram Agrawal Prof. Dr. Kundan Datta Koirala Prof. Dr. Bishwombhar Pyakurel Prof. Dr. Madan Kumar Dahal Prof. Dr. Sri Ram Paudel Prof. Dr. Radheshyam Pradhan Prof. Dr. Puspa Kandel

  • Contents 1. Guest Editorial 1

    G. D. Sardana

    2. Do Multinational Enterprises Foster Wage Spillovers? The case of the Italian Manufacturing Sector 7

    Rosanna Pittiglio Filippo Reganati Edgardo Sica

    3. Factors Effecting Employees Willingness to Stay in Information Technology Industry 30

    Harold Andrew Patrick Bhaskar Raghu. K. Vishwanath

    4. Financial Ratios, Discriminant Analysis and the Prediction of Corporate Failure 50

    Surendra Mahato

    5. Implementation of Balanced Scorecard for the EBINA General Hospital 64

    Kazunori Ito Masaki Iijima

    6. Joint Operation of a Special Economic Zone by Enemies: The case of Kaesong Industrial Complex 80

    John Walsh

    7. Business Sustainability of Small and Medium Scale Enterprises: A Case Study based on Bottled Water Industry in Sri Lanka 93

    SWSB Dasanayaka GD Sardana Gayan Wedawatta

    8. Human Resource Management and Globalization in Nepal: A Framework for Future Research 108

    Dhruba Kumar Gautam

  • Manuscript Submission The Editorial Board invites manuscripts of all aspects of management, business environment, entrepreneurship and economics. Enquiries should be directed to the managing editor. Write to the managing editor- The International Journal of Nepalese Academy of management, P.O. box 12719, Kathmandu, Nepal. Website: E-mail:

    The International Journal of Nepalese Academy of Management, its Editorial Board, Editorial Advisory Board, Chief Editor, Guest Editor and Managing Editor, and Publisher disclaim responsibility and liability for any statement of facts and opinion made by the contributors. The responsibility for permission to use any copy right material is exclusively of the contributors concerned. Copyright at Nepalese Academy of Management. All rights reserved. Reproducing any material published in The International Journal of Nepalese Academy of Management requires prior permission of the managing Editor.

    Submission Guideline • Manuscripts should be between 3000 to 5000 words (including illustration,

    graphs, and charts)in ONE document created in Word format in which cover page must include author’s name an abridged resume of the author, title of the article and the abstract with key words. The author page must not contain the name of the author.

    • Submitted papers must be in English, original, and not previously published in any journal either in printed or in any other forms.

    • Manuscripts should be submitted in “double spaced format” with wide margins, 200-300 word abstract, using 12 point font.

    • The selection of papers for publication will be based on their relevance, clarity, topicality, and originality; the extent to which they advance knowledge, understanding, and application; and their likely contribution towards inspiring further development and research.

    • Manuscript not considered or not accepted for publication will not be sent back.

    • Place the references at the end of the manuscript. The list should mention only those sources which have been actually cited in the text or notes. References should be complete in all respect and alphabetically arranged. Current A.P.A citation (e.g. Adhikari, D. R. & Gautam, D. K. (2010). Labor Legislations for Improving Quality of Work Life in Nepal. International Journal of Law and management, 52: 1, 40-53.

    • Manuscript should be submitted electronically with attachments to the Managing Editor- the International Journal of Nepalese academy of Management: nepaleseacademy@gmail.comAll material and editorial correspondence to the editorial team should be addressed to: Nepalese Academy of management, P. O. Box 12719, Kathmandu, Nepal.

    • The decision of the Editors will be final.

  • The International Journal of Nepalese Academy of Management

    Volume 2, Number 1, 1-6, 2014 Kathmandu, Nepal

    Guest Editorial ________________________________

    G .D. Sardana Professor, Operations Management

    Editor, South Asian Journal for Business and Management Cases Chairman, Bimtech Centre for Business and Management Cases

    Birla Institute of Management Technology, Greater Noida, India.

    Concepts of globalization, international trade, liberalization are often bunched together when it comes to discussing their role in the contemporary world of business and the future scenario. International trade in simple terms conveys disposal of surplus produce to distant lands or finding better returns for your products and services, than what could be available from the neighbouring community or in an extended way to carry out imports and exports. International trade is not new; it has existed since civilization and long before land got divided into geographical boundaries to create nations. The trade took foundations: there are evidences of trade in times immemorial of merchants from the present day India, China, Egypt, Himalayan territories of Nepal, Afghanistan, Kazakhstan, Turkmenistan, Tibet taking long travel to sell their produce in far off lands. The first lessons of business management of what we learn in B-Schools today came naturally to our human genes .Man recognised early that he had to compete on cost and quality. The driving factor of time got added to the list soon thereafter as the man realized the importance of timely delivery to meet the needs of medicines arising from sickness, food from famines, luxuries from festivals and celebrations, and the departures of the caravans for journeys. It can be stated that competitiveness has always been a part of the human activity since very early days of human civilization when agriculture, hunting, fishing, mining were the early vocations. To produce more from the inputs or to get a better quality to demand a better barter or price were always the concerns. Man developed his own ingenuity. He would work for longer hours, create teams to finish work in shorter time, find ways to increase fertility of the land he tilled, use animal muscle power for several operations including preparing the land for sowing and transportation of the harvest. Design of tools for agriculture, fishing, and hunting played a significant role .The metal currency gave a big push to the concept as it provided a measure of economic performance. Competitiveness was developing as a science.

  • 2 The International Journal of Nepalese Academy of Management

    The human society entered a second stage of its civilization when it took up warfare as an organized vocation. Out of greed, compulsi