Session

Management, Business and Economics

Description

Financial crises are very damaging and costly. They can spread easily from one country to another. The most apparent example was the crisis of 2008, which took global dimensions. The entire world was affected by the crisis and many countries are still suffering the consequences, such as: economic decline, failure of banks or financial institutions, price fluctuations, etc. The main factors that cause shocks in the financial sector can be grouped as follows: inappropriate macroeconomic policies, the weakness of the financial system, global financial conditions, the difference of exchange rates and political instability. These factors, create the conditions for the crisis to occur, and precisely these factors will be the theme element of our study. This study, which analyzes the elements that changed corporate governance after the crisis of 2008, will also focus on the impact that these structural changes had in the level of job satisfaction of employees, given the extent of the layer, that represent people who have suffered the most severe economic shock of this crisis. The collected data of the employees of a company in Albania was analyzed through the T-test, which aims to compare how elements of job satisfaction vary from one period to another, and how statistically the differences are significant. The salary and the level of commitment were associated with the level of satisfaction of the employees during the economic crisis of 2008, and then compared with the period after, through the Chi- square test, to verify the presence of a correlation between them.

Keywords:

financial crisis, corporate, work satisfaction, employee

Session Chair

Ylber Limani

Session Co-Chair

Armend Muja

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-34-9

First Page

8

Last Page

19

Location

Durres, Albania

Start Date

7-11-2014 3:15 PM

End Date

7-11-2014 3:30 PM

Included in

Business Commons

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Nov 7th, 3:15 PM Nov 7th, 3:30 PM

The impact of the financial crises in the management of the corporates

Durres, Albania

Financial crises are very damaging and costly. They can spread easily from one country to another. The most apparent example was the crisis of 2008, which took global dimensions. The entire world was affected by the crisis and many countries are still suffering the consequences, such as: economic decline, failure of banks or financial institutions, price fluctuations, etc. The main factors that cause shocks in the financial sector can be grouped as follows: inappropriate macroeconomic policies, the weakness of the financial system, global financial conditions, the difference of exchange rates and political instability. These factors, create the conditions for the crisis to occur, and precisely these factors will be the theme element of our study. This study, which analyzes the elements that changed corporate governance after the crisis of 2008, will also focus on the impact that these structural changes had in the level of job satisfaction of employees, given the extent of the layer, that represent people who have suffered the most severe economic shock of this crisis. The collected data of the employees of a company in Albania was analyzed through the T-test, which aims to compare how elements of job satisfaction vary from one period to another, and how statistically the differences are significant. The salary and the level of commitment were associated with the level of satisfaction of the employees during the economic crisis of 2008, and then compared with the period after, through the Chi- square test, to verify the presence of a correlation between them.