Pravaha 2018-06-12T14:16:33+00:00 Dr. Jitendra Upadhyay Open Journal Systems A multidisciplinary double-blinded peer-reviewed research journal published by the Nepal Commerce Campus, Tribhuvan University, New Baneshwor, Kathmandu, Nepal. Editorial Vol.24(1) 2018-06-12T14:14:33+00:00 Jitendra Prasad Upahdyay <p>Not available.</p><p align="left"><strong>Pravaha</strong> Vol. 24, No. 1, 2018, page : V</p> 2018-06-12T14:14:32+00:00 ##submission.copyrightStatement## A Study of Perks-II Distribution via Bayesian Paradigm 2018-06-12T14:14:36+00:00 A. K. Chaudhary <p>In this paper, the Markov chain Monte Carlo (MCMC) method is used to estimate the parameters of Perks-II distribution based on a complete sample. The procedures are developed to perform full Bayesian analysis of the Perks-II distributions using Markov Chain Monte Carlo (MCMC) simulation method in OpenBUGS, established software for Bayesian analysis using Markov Chain Monte Carlo (MCMC) methods. We have obtained the Bayes estimates of the parameters, hazard and reliability functions, and their probability intervals are also presented. We have also discussed the issue of model compatibility for the given data set. A real data set is considered for illustration under gamma sets of priors.</p><p align="left"><strong>Pravaha</strong></p><p align="left">Vol. 24, No. 1, 2018,page: 1-17</p><p> </p> 2018-06-12T14:14:36+00:00 ##submission.copyrightStatement## Total Quality Management Practices on Employees’ Job Involvement in Nepalese Manufacturing Industry 2018-06-12T14:14:40+00:00 Bhupindra Jung Basnet <p>The purpose of this paper is to examine the impact of total quality management practices on employees’ job involvement in Nepalese manufacturing industry. Structural questionnaire are used. Data was analyzed by employing correlation and sample regression analysis. The result of this study revealed that customer focus, training and education, teamwork, and organizational culture are positively associated with employees’ job involvement. This study contributes for advancing the TQM research literature to a better understanding of the association between TQM practices and employees’ job involvement within Nepalese manufacturing industry.</p><p align="left"><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 18-30</p> 2018-06-12T14:14:40+00:00 ##submission.copyrightStatement## Relationship among Trust, Justice and Organizational Commitment at Hospitals in Nepal 2018-06-12T14:14:46+00:00 Binod Education Ghimire <p>The main purpose of this research is to examine the relationships among trust, justice and organizational commitment at hospitals in Nepal. The success of an organization is closely relatedto its employees’ perception of trust, and justice within the organization. This study is based on the effect of perceptions of trust in management and organizational commitment among the nurses working in different hospital at Kathmandu Valley. This study includes the design and distribution of a self-administered questionnaire to 465 nurses belonging to different hospitals working on different basic pay scales.This paper is useful to academicians and organizations to understand the level of relationship that will help them to manage the organization in accordance with its objectives. Improved treatment of organizational and developing mutual trust and understanding between management and workers lead to the organizational commitment.</p><p align="left"><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 31-38</p> 2018-06-12T14:14:46+00:00 ##submission.copyrightStatement## Generic Strategies and sustainability of Financial Performance of Nepalese Enterprises 2018-06-12T14:14:53+00:00 Dhundi Bhattarai <p>The purpose of this paper is to examine the relationship between firm strategy and sustainability of financial performance of Nepalese Enterprises. The research design adopted in this study consists of descriptive and causal-comparative research designs to deal with the various issues raised in this study. Secondary data has been used for this study which was collected from annual audit report of concerned organization of manufacturing and hotel industrities from fiscal year 2000/01 to 2014/15. Factor analysis, descriptive statistics, correlation analysis, and regression analysis are different statistical tool that has been used for this study. Cost leadership and differentiation strategies has been constructed from selling, general, and administrative expenses divided by sales; sales divided by cost of goods sold; capital expenditure on property, plant, and equipment divided by sales, and net book value of plant and equipment; divided by sales variables through factor analysis. By regressing return on assets of future period against on return on assets, interaction of cost leadership strategy with return on assets, interaction of differentiation strategy with return on assets variables. The analysis shows that the enterprises adopting higher selling, general and administrative expenses in association with higher gross profit margin are pursuing differentiation strategy whereas, higher investment on property, plant and equipment along with their existing higher book value of plant and equipment indicates that they are following cost leadership strategy. When organization is following cost leadership and differentiation strategy both positive effect on sustainability of financial performance of Nepalese enterprises. Out of cost leadership and differentiation strategy, cost leadership is better than differentiation strategy to increase financial performance of Nepalese enterprises.</p><p> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, page: 39-49</p> 2018-06-12T14:14:53+00:00 ##submission.copyrightStatement## Entrepreneurial Process: A Case of Deep Jyoti Family Resort and Restaurant Pvt. Ltd 2018-06-12T14:15:19+00:00 Dhruba Raj Pokharel <p>This paper carries the empirical as well as conceptual review regarding the entrepreneurial process and attempts to explore the entrepreneurial process in the tourism and hospitality enterprise creation in semi-urban area of Nepal.</p><p> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 50-57</p> 2018-06-12T14:15:18+00:00 ##submission.copyrightStatement## Tourism Demand Analysis Using Probabilistic Travel Model: A Study In Pokhara 2018-06-12T14:15:22+00:00 Dila Ram Bhandari <p>Tourism is now one of the largest industries in the world that has developed alongside the fascinating concept of eco-tourism. Nepal Tourism Policy 2009 identifies tourism sector as an important vehicle for economic and social development. Revenue from tourism sector is observed from foreign currency exchange made by tourists and tourism industries as proxy of income. According to Tourism Towards 2030, the number of international tourist arrivals worldwide is expected to increase by an average of 3.3% a year over the period 2010 to 2030. At the projected rate of growth, international tourist arrivals worldwide are expected to reach 1.4 billion by 2020, and 1.8 billion by the year 2030. Nepal aims to transform its tourism sector into one of the largest foreign exchange earners in 2016 by attracting 2.5 million high spending tourists. Tourism was ranked as the fifth largest source of foreign exchange earnings in 2012 and third largest in 2013 contributing 5.2 percent to total foreign earnings of the country. This study shows the tourism infrastructure as well as seasonal arrival of tourists in Nepal and to develop the probabilistic travel model on the basis of tourist perception which will help the tourism department for the further economic development of the area. R-Studio based on data from the sample period from 2008 to 2016. The formula presented in this study can be used by policy makers to calculate future foreign exchange earnings, employment, arrivals and prices related to tourism in Nepal.</p><p> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 58-63</p> 2018-06-12T14:15:21+00:00 ##submission.copyrightStatement## Stock Market Responses to Macroeconomic Dynamics: Testing for Long-Run Equilibrium in Nepal 2018-06-12T14:15:29+00:00 Dipendra Education Karki <p>This study empirically examines the macro-economic factors of the stock market performance in Nepal. It considers the annual data of four macroeconomic variables; real GDP, inflation, interest rate and broad money supply from 1994 to 2016 and attempts to reveal the relative influence of these variables on stock prices represented by ‘NEPSE Index’ of the Nepalese capital market. Empirical results reveal that the performance of stock market is found to respond positively to real GDP, inflation and money supply, and negatively to interest rate. More importantly, cointegrating evidence cannot be found between macroeconomic variables and stock market index which suggests that stock price movements in Nepal are not explained by the macroeconomic variables. It supports random walk hypothesis in Nepalese stock market.</p><p align="left"><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 64-82</p> 2018-06-12T14:15:29+00:00 ##submission.copyrightStatement## Tax evasion in Nepal: An Inquiry 2018-06-12T14:15:35+00:00 Jit Bahadur K.C. <p><strong>Purpose: </strong>This article analyses the degree of relationship between tax evasion, total tax revenue and economic growth in Nepal.</p><p><strong>Methodology: </strong>This empirical study adopts secondary data from various journals, books, reports, booklets, and the websites in order to obtain objective results between the research variables (i.e., tax evasion, total tax revenue and economic growth) applying both research tools of correlation and linear regression analysis.</p><p><strong>Findings: </strong>The study found an inverse relationship between the variables (i.e., tax evasion and total tax revenue (-0.678) and tax evasion and economic growth (-0.666)) under correlation analysis. Similarly, it found negative influence of the tax evasion on total tax revenue and economic growth under the regression analysis. The examination of the influence of tax evasion on the total tax revenue showed that, other elements of the taxes kept constant, an increase in tax evasion by 1 unit led to a decrease in value of tax revenue by 34.037. In the same way, study of the influence of the tax evasion on the economic growth (at current price) showed that, other things being constant, an increase in tax evasion by 1 unit led to a decrease in the economic growth by the value of 147.440. Thus, tax evasion has an inverse relationship with economic growth, and tax revenue.</p><p><strong>Originality: </strong>This paper provides an explicit new result on association and influence between and on the research variables (i.e., tax evasion between and on the total tax and economic growth) in Nepal for the duration of 9 years. Thus, this study furnishes the new knowledge in the literature of the research variables.</p><p> </p><p align="left"><strong>Pravaha</strong></p><p> Vol. 24, No. 1, 2018, page: 83-95</p> 2018-06-12T14:15:35+00:00 ##submission.copyrightStatement## Higher Education in Nepal 2018-06-12T14:15:41+00:00 Jitendra Prasad Upadhyay <p><strong>Background </strong>- Higher education is very important for the development of the nation. It is recognized today as a capital investment and is of paramount importance for economic andsocial development of the country. Quality higher education is a source of great potential for the socio economic and cultural development of the country. The nation can be transformed into a developed nation within the life time of a single generation.</p><p><strong>Purpose </strong>– The purpose of the study is to study about the effectiveness of higher education of Nepal.</p><p><strong>Methodology </strong>– Due to the specific nature of the research objectives, descriptive cum analytical research design has been used.</p><p><strong>Findings </strong>– Higher Education in Nepal is satisfactory and every stakeholders of the Nepal have been satisfied with the performance of the higher education of Nepal.</p><p><strong>Practical Implications </strong>- This study has widely tested the effectiveness of the higher education in Nepal. It helps to improve the quality of higher education in Nepal.</p><p align="left"><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, page: 96-108</p> 2018-06-12T14:15:41+00:00 ##submission.copyrightStatement## Risk and Return Analysis of Commercial Banks of Nepal (with reference to NABIL and NIBL) 2018-06-12T14:15:45+00:00 Laxman Raj Kandel <p>This paper analyze the risk and return on common stock investment of Nepalese stock market and it is focused on common stock of two commercial banks listed in Nepal stock exchange Limited. Investors have varying perception towards risk and enterprising activities. They invest in those opportunities which have certain degree of risk associated with it. This research study found that there is a positive relationship between risk and return. Most of the investors are risk averter. It suggest to construct appropriate portfolio instead of investment in a single security which would be able to reduce unsystematic or diversifiable risk. The secondary data which was collected from NEPSE website (, previous studies, NRB publications and publication of selected commercial banks, website of security board of Nepal (SEBO), Journals and internet. Both quantitative and qualitative analysis has been analyzed by using scientific methods. After the analysis of risk and return of sample bank and based on the past data of their last five fiscal years i.e. (FY-2012/13 to FY-2016/17), it is concluded that all the commercial banks are very much risky with fluctuated rate of return. From the findings of beta coefficient of each sample bank, the C.S. of NABIL is seems very much volatile than NIBL stock. It was also found that both selected bank have a high proportion of unsystematic risk.</p><p align="left"><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 109-119</p> 2018-06-12T14:15:45+00:00 ##submission.copyrightStatement## Microfinance Position and Indebtedness: Empirical Evidence from Microfinance Institutions in Nepa 2018-06-12T14:15:51+00:00 Nischal Risal <p>The paper has been built up with the aim of analyzing the microfinance institutions status and indebtedness in Nepal. Initially, the paper starts with the thematic review based on etymological, ontological, epistemological dimensions then the status of microfinance institutions and indebtedness in Nepal have been presented in the second part. The descriptive analytical research design has been adopted to analyze and interpret the population data. The fifty three microfinance institutions' data have been reviewed, tabulated and analyzed using MSExcel. The microfinance institutions have been found efficient in saving and credit services. The microfinance credit service has not been utilized as per the need of the people and capacity of the institutions. The loan recovery, interest recovery, clients awareness/activeness have been found effective. Overall, microfinance institutions status has been found sound. Only few institutions are below the satisfaction level. The microfinance services in terms of micro loan are not uniform among microfinance institutions. The indebtedness challenge have found at bottom level in the microfinance industry. It is recommended to all the microfinance institutions to come up with policies, strategies and regulatory framework to benchmark the level of tolerance to indebtedness, so that the microfinance institutions may sustain by achieving the objectives of poverty alleviation through microfinance services.</p><p><em> </em></p><p align="left"><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 120-136</p> 2018-06-12T14:15:51+00:00 ##submission.copyrightStatement## Study on Internet Marketing Practices of Tourism Industry by Travel Agency of Nepal 2018-06-12T14:15:56+00:00 Omprakash Prasad Yadav <p>Nepal is famous destination for international travelers through tour started only after sixties. Nepal within two decades became successful to have it significant position in world tourism scenario. Tourism in Nepal becomes a strong contributor in National economy after it boomed in eighties. It has become important foreign export being major source of foreign exchange. A part from this, it has been contributing in creating direct &amp; indirect employment opportunities. Realizing the importance of tourism sector to uplift national economy, Nepal government has formulated various policies plan, and strategies to develop tourism as sustainable industry. Tourism master plan 1972 was an important step in policy formulation Nepal Tourism Board (NTB) was established in 1999 with the principle of Public Private Partnership (PPP) with the Principle of Public Private Partnership (PPP) approach. Since then, NTB has been marketing "Nepal as an enchanting holiday destination in world tourism market. It has adopted various strategies and undertaken different activities in order to promote Nepal as a must visit destination. We have abundant resources for which the country enjoys competitive advantages. Tourism represent one among such sectors which could rebuild the image of the country bringing back multifaceted benefit to the country and the people at large it also emerged as an exemplary model for the Nepalese economy and represent around 4% to the country GDP and is also a major source of employment, it has developed as an independent sector of the economy heavily involving the Nepalese private sector. Travel agencies are among such private sector wings which are responsible to bring or has contributed to great extent to invite lots of tourist from all over the world. So to great extent promotion of tourism by these travel agencies has direct correlation with the inflow of tourist in Nepal. In order to find the perception of travel agencies regarding internet marketing prospect practiced in tourism sector.</p><p align="left"> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 137-146</p> 2018-06-12T14:15:56+00:00 ##submission.copyrightStatement## Challenges and Scopes of Pottery Industry 2018-06-12T14:16:03+00:00 Prakash Shrestha <p>Pottery is unique art of making artifacts from clay. It produces different kinds of clay and ceramics items such as flowerpots, water and grain storage jars, large vessels for distilling rice spirits called rakshi, cooking pots, tableware, stoneware cups, bowls, and plates, stoneware pitcher and mug, etc. This research aims to examine challenges faced by the pottery industries and to examine scopes of the pottery industries in Nepal. This research is based on the descriptive method. The results show that there is good scope in the this industry but the people involved in this industry are facing different kinds of challenges or problems like shortage of raw materials, manpower, and lack of space to dry the formed pottery, firing pottery, to store the finished goods along with the different raw materials. The sales of the product in the national and international markets are being increased. This industry is being affected by the change in lifestyle and different substitute products. The intermediaries get good profits but they face the problem of getting the products damaged, demand dependent on the festive occasion, problem of transportation, etc. Study shows that there is a huge demand for Nepali handmade ceramic products in the international market due to their improved quality. Buyers are willing to pay a premium for handmade goods, which are propelling exports.</p><p> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 147-158</p> 2018-06-12T14:16:03+00:00 ##submission.copyrightStatement## Management Praxis at Nepalese Manufacturing and Non-Manufacturing Firms 2018-06-12T14:16:09+00:00 Raj Kumar Bhattarai <p>This paper ascertains management praxis at Nepalese manufacturing and non-manufacturing firms that are shaping the firms’ decisions and actions in due course of their managerial process activities. In-depth interviews with selected executives from among the respondents and discourse analysis thereof indicate a varied form of managerial practices. The discourse in the areas of organizational change and management praxis concentrated on the adaptation to their environment. It focuses on the role of executives, culture, environmental change, organizational and business legacy in consideration of discontinuity, innovation and social adaptation. Chisquare test of independence and Kendall’s tau-b have been instrumental in interpretation of the associations and relationships of the principal actors of change makers in organizations and businesses.</p><p align="left"><em> </em><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 159-174</p> 2018-06-12T14:16:09+00:00 ##submission.copyrightStatement## City Marketing in Local Governance in Nepalese Perspectives: A Comparative Study between Chagunarayan and Suryabinayak Municipality 2018-06-12T14:16:13+00:00 Rajeshwor Neupane <p>This Paper discusses city marketing in local governance in Nepalese perspectives and gives an overview of the city marketing technique and how it is used in various marketing research designed and applications. A basic outline of how the technique works and its criteria, including its main assumptions are discussed as well as when it should be used in various geographical locations. City marketing is promoted to enlighten readers on how place marketing strategies works, an example of how to run city marketing on municipalities is provided. This will allow readers to develop a better understanding of when to employ city marketing and how to interpret the role of city marketing in the output. By keeping a view of this reality, this study tries to identify the difference between city marketing in local governance on the basis of gender and household size of Changunarayan and Suryabinayak municipalities.</p><p> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, page: 175-180</p> 2018-06-12T14:16:13+00:00 ##submission.copyrightStatement## Students’ Perception towards Master of Business Studies (MBS) Semester System: A Case Study of Nepal Commerce Campus 2018-06-12T14:16:18+00:00 Rewan Kumar Dahal <p>The study sought to understand and analyze students’ perception towards MBS semester system taking a case of Nepal Commerce Campus with regard to (a) academic resources, (b) course organization and planning, (c) physical resources, (d) governance and image, and (e) overall perception of students. It followed descriptive research design with using questionnaire survey instrument. The population of this study comprised all 668 MBS semester students and the sample consisted 246 students selected through random sampling techniques. The survey questionnaire was set in seven sections with 30 questions of various types to collect data. Collected data were analyzed with the help of SPSS software (version 23). The research result revealed that the perception of the students towards all aspects is quite satisfactory except toilets and canteen facilities of Nepal Commerce Campus. The study drew some feedback and suggestions from students for the betterment of the college. It covered those students who were studying MBS semester system since the last five out of 48 month’s course cycle therefore it didn’t cover the aspects of semester system. It enhances the understanding of stakeholders about the issues of semester system at master’s level.</p><p><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 181-195</p><p align="left"> </p> 2018-06-12T14:16:18+00:00 ##submission.copyrightStatement## A Survey on Capital Structure Decision of Nepalese Non-Financial Firm 2018-06-12T14:16:23+00:00 Shanker Dhodary <p>The study aims at examining the views of capital structure in Nepalese non-financial enterprises. The study is based on primary data. A descriptive research design has been adopted for the study. Different descriptive statistical measures such as minimum, maximum, percentage, average, standard deviation and coefficient of variation have been used to analyze. This study is directed towards examining the capital structure policy of Nepalese non- financial firms. The primary information required for the said purpose has been collected through the survey of opinions of board of directors, company secretary, executives, chief finance officers and other line managers through administering the well structure multi- part questionnaire. For the purpose of field survey, 90 questionnaires were distributed among the respondents located in Kathmandu using non probabilistic sampling. The survey result shows that preference toward maturity structure of borrowing varied among the Nepalese non-financial firms, and majority of Nepalese firms do not consider interest rate and practice of matching between asset and liabilities structure while they go for borrowing. As proper matching between assets and liabilities structure is required, companies should pay attention towards this aspect. Outside security analysts and comparative industry have only a minimal effect on the development of these targets.</p><p> <strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 196-205</p> 2018-06-12T14:16:23+00:00 ##submission.copyrightStatement## An Analysis of the Impact of Real Effective Exchange Rate on Economic Growth of Nepal 2018-06-12T14:16:28+00:00 Sujan Koirala <p>This article is designed to assess the impact of real effective exchange rate (REER) on economic growth of Nepal. The study uses annual time series data for the period of 1975 to 2015. Engle- Granger residual based test and error correction model have been used to detect the impact of REER on real GDP of Nepal. The explanatory variables used in the study are real effective exchange rate, broad money supply, trade openness and gross fixed capital formation. The results of the study reveal that real effective exchange rate has positive impact on the real GDP of Nepal. Based on the findings, the study concludes that the transmission mechanism of REER through aggregate demand hold in case of Nepal and this result is compatible with the traditional approach to exchange rate. Finally, it is recommended that broad money supply continues to be relevant monetary policy for Nepal. Moreover, Nepal must use the real exchange rate as one of the macroeconomic policies.</p><p align="left"><em> </em><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, page: 206-216</p><p align="left"> </p> 2018-06-12T14:16:28+00:00 ##submission.copyrightStatement## Balancing Work Life and Family Life: Problems and Remedies 2018-06-12T14:16:33+00:00 Tej Narayan Prasad Nepali <p>Work- family balance” is a term that refers to an individual’s perceptions of the degree to which s/he is experiencing positive relationships between work and family roles, where the relationships are viewed as compatible and at equilibrium with each other. Like a fulcrum measuring the daily shifting weights of time and energy allocation between work and family life, the term, “workfamily balance,” provides a metaphor to countervail the historical notion that work and family relationships can often be competing, at odds, and conflicting.</p><p>There was a time when the boundaries between work and home were fairly clear. Today, however, work is likely to invade our personal life — and maintaining work-life balance is no simple task. Family work balance is a complex issue that involves financial values, gender roles, career path, time management and many other factors. Every person and couple will have their own preferences and needs. The problem of maintaining a balance between work life and family life is not a new one. But in the recent few years social scientists have started paying more attention to it. Now there is growing concern in Nepal and experts are of the view that a constant struggle to balance both sets of life will have serious implications on the health of an employee.</p><p>The seriousness of this problem increases many times in the cases of women workers in our society which is a traditional one and where women are still supposed to have greater family responsibilities. They are expected to look after their children, entertaining the guest, taking care of their parents, in laws and other elderly members of their families as also managing kitchen and other household affairs. Neglecting any of these responsibilities for the sake of discharging work in office or in other institutions where they are employed is not tolerated by their husbands and other male members of the society. We talk of women empowerment but we fail to understand the problems which working women are facing in the tradition bound society like of ours. The study is a pioneering work to investigate into this problem. It is a modest attempt to understand the manner in which women workers try to maintain balance between their work and family lives. The study also explores the ways and means by which female workers can be enabled to maintain proper balance between the two sets of their lives. The findings of this study may be of great use to employers, and business executives as well, who have now come to realize that the responsibility to maintain a healthy work life balance rests on both the organisation and employee.</p><p align="left"><em> </em><strong>Pravaha</strong></p><p align="left"> Vol. 24, No. 1, 2018, Page: 217-232</p> 2018-06-12T14:16:33+00:00 ##submission.copyrightStatement##