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Doctorate in Business Administration

2010 Business Research Conference

“Business Development in the Caribbean:  Confronting the Challenges”    

Mona Visitors Lodge  April 23rd – 24th, 2010 

Message from the Principal, University of the West Indies, Mona            

The University of the West Indies (UWI) and its Mona School of Business (MSB), recognized that, in addition to graduates from its Masters programmes, an increase in the pool of trained Caribbean Business Leaders, equipped to extend the boundaries of knowledge through scholarly research, would be necessary for enterprises across the region to cope with the novel and complex challenges of the modern global business environment. One of our many responses to this emerging predicament was the 2008 launch of the Doctorate in Business Administration (DBA) programme. The programme’s overarching objective was to train transformational leaders to undertake rigorous management research in order to provide boundary-spanning insights to contribute to the solution of the myriad business and management problems of our region. We are particularly pleased with the progress of the members of cohort one of this programme. Having successfully completed two-years of seminars and a comprehensive examination, they are now ready to venture into the research phase of the programme. In fulfilment of the programme’s requirements, the cohort has been charged with hosting a conference to present papers on their areas of focus for their dissertation research. The theme chosen for the conference, “Business Development in the Caribbean: Confronting the challenges,” reflects the relevance of their dissertation topics and the four sub themes: National Public Policy; Leadership and Governance; Wealth Creation and Preservation; and Entrepreneurship and SMEs resonates with the contemporary issues that confront the region. I am confident that attendees will be impressed by the students’ demonstrated appreciation of the management problems that the region is grappling with and with the sophisticated analysis they have engaged in to design researchable projects that are geared towards providing useful insights and solutions. I also feel reasonably sure that you will support them in a various ways as they embark on these projects. I extend heartiest congratulations to the members of DBA cohort 1 for attaining this milestone and I look forward to receiving them into the doctoral ranks, upon successful completion of the dissertation phase of their programme.

Prof. the Hon. Gordon Shirley, O.J. Principal, University of the West Indies, Mona Campus

Message from the Executive Director, Mona School of Business, UWI

The DBA Business Development Conference represents a significant milestone in the inexorable march of members of the first cohort towards their doctoral degree with the sense of enthusiasm and mental energy that emanate from their “enlightenment� over the last two years. During this period members of the cohort were engaged in a collaboratively creative environment in which they drew inspiration from intellectual exchanges with faculty and group members in seminars, colloquia, and debates. The primary objective of all of MSB programmes is to equip students to become transformational leaders in shaping the economic future of Jamaica and the wider Caribbean. However, the bar is raised several notches for the DBA programme and students, where the burden is greatly elevated by the need to focus on the creation and interpretation of new knowledge in order to extend the forefront of business management through original research and other advanced scholarly pursuits and in some cases to create human capital as they stimulate the minds of university students. There is no better time for our DBA students to demonstrate their mettle! Our nation and region continue to reel from the residual effects of the protracted world economic crisis and an assortment of home-grown ills and enterprises struggle to meet the demands of operations in this extremely complex business environment that is progressively complicated by uncertainty and equivocality. The hosting of this conference, though a requirement of the programme, demonstrates that the members of this cohort are ready to face the challenges and to contribute solutions to the myriad problems we face. While the programme forces our students to grasp and apply the tenets of rigour in research, their choice of a conference theme and sub-themes, and their own research agendas amply indicate their appreciation of the notion of relevance. Personally, it has been a pleasure to interact with this cohort; their excellent work ethic, intellectual capacity, motivation, maturity and discipline contributes to exhilarating doctoral seminars. I am sure conference attendees will get a sneak preview of their capability, the University will gain some visibility as a result of their efforts, and society at large will benefit from their hard work, ultimately.

Evan W. Duggan, Ph.D. Executive Director and Professor of Management Information Systems Mona School of Business

Message from the Academic Director, DBA Programme, MSB, UWI

The journey continues for the first cohort of DBA students from Mona School of Business (MSB). One of the phases in this journey is the engagement of the minds in an intellectual exposition and practical ways of synthesising and analysing business problems. It is with this in mind, along with the need to address relevant business issues with a critical eye, that an enthusiastic group of doctoral students strive to engage in serious, in-depth and rigorous research. Indeed, they embrace the thoughts expressed by Ludwig Boltzman: "There is nothing so practical as a good theory." They are also aware that business research that is of practical value must be informed by data; consistent with the view of Arthur Conan Doyle (via Sherlock Holmes): "It is a capital mistake to theorize before one has data." I join in congratulating members of cohort one on the planning and delivery of this first Business Development Conference. They are the pace-setters and the die has been cast; future cohorts will have a set of footprints to follow. Excellence demands excellence and I am confident that the various research projects being proposed at this conference are indicative of the high quality expected from our doctoral students. I also believe that the areas of research represent those that must be explored to generate vibrant economic activities in the Caribbean region and beyond. I join in welcoming those who have come to be part of this phase of the journey, tangential or otherwise. Mona School of Business exists to address and solve relevant business problems and cohort one of the DBA students represent part of that solution. Accept my sincere blessings and best wishes for a good, effective and practical-oriented conference.Â

Dr. Lawrence A. Nicholson Academic Director, DBA

Message The Jamaica Stock Exchange congratulates the University of the West Indies and the Mona School of Business in particular, on the organization of your Conference under the theme “Business Development in the Caribbean:

Confronting the Challenges”. The Conference is timely, given the turmoil, not only in the Caribbean, but also in the international marketplace, brought about by the global financial meltdown. It is very important that our brightest minds get together in order to find solutions in order to confront the problems facing the Caribbean. The Caribbean’s problems are many and some are unique to us. It is in this framework that it is important for us to seek our own solutions. As usual, the University has brought together a distinguished panel in order to chart the way forward for the Caribbean and this is heartening. The discourse should be fruitful and ongoing. It is important that the solutions, when identified, are brought to the relevant authorities so that the Caribbean can be spurred into action instead of waiting for outside assistance. No doubt there will be a plan of action for implementation and the wider dissemination of information to the general public to allow for buying into the solutions. I am confident that that this Conference will be of the highest standard and participants should be the better for attending. The Stock Exchange takes pleasure in endorsing this Conference, which is another milestone in the history of the University. --------------------------------------------------------Mrs. Marlene Street Forrest General Manager, Jamaica Stock Exchange

MESSAGE BY MRS. SANCIA BENNETT-TEMPLER PRESIDENT, JAMAICA TRADE & INVEST (JAMPRO) I would like to take this opportunity, on behalf of Jamaica Trade and Invest (JAMPRO) to congratulate the Mona School of Business for their significant work in research in the business sector. The caliber of this work, which is groundbreaking in many instances, has augured well for the growth and development of business in Jamaica and by extension the wider Caribbean. The staging of this conference has come at an opportune time, as Jamaica seeks to increase its efforts to emerge from the global financial crisis with renewed energy and perspective. In keeping with the theme’s thrust to confront challenges, I have no doubt that this event will offer new and inventive ideas for stimulating business and boosting the economy. Jamaica Trade and Invest has a critical role to play in facilitating business, and continued association with the Mona School of Business, will undoubtedly allow for the further achievement of the organization’s objective of creating an enabling business environment through advocacy and research. A review of the best practices among global Investment Promotion Agencies highlights the significant role of research in attracting investment. Similarly, such research is also critical in facilitating an increase in trade through product development and a comprehensive understanding of target markets. In light of this, our ability to forge strong partnerships with organizations such as the Mona School of Business is important in harnessing an increased understanding of trends and opportunities within a constantly evolving global market, and using this knowledge in the further creation and promotion of opportunities for Jamaican business. Let me once again take this opportunity to congratulate the Mona School of Business in the staging of this conference and we look forward to the ferment of ideas and discussion that we are confident will open new pathways for boosting business and investments in Jamaica. SANCIA BENNETTBENNETT- TEMPLER TEMPLER President, Jamaica Trade & Invest (JAMPRO)

The Jamaica Employers’ Federation (JEF) congratulates Cohort 1 of the Doctorate in Business Administration (DBA) programme of Mona School of Business on this important presentation of your body of research as set out



seminar “Business



the Caribbean Confronting


Challenges”. Within

the Caribbean space there are similarities and differences in the depth, breath and scope of the challenges to business development and the timeliness of the seminar is quite appropriate. The span of the research topics makes us hopeful of the future as the conversion of research to application is anticipated.   We at JEF stand ready to further support the work and achievements of Cohort 1 thus far and look forward to the outcome not merely as another series for research documents to gather dust on a shelf but rather as learning that is practical and applicable. The business environment needs solid research as this is critical to improving our roles as entrepreneurs and employers.   We wish for you continued success and congratulate you on this initiative “Business Development in the Caribbean Confronting the Challenges”.    Yours sincerely  Wayne Chen  President  Jamaica Employers’ Federation 

2A Ruthven Road Kingston 10  Jamaica W.I.   Telephone: 926-6762/5524/6908   Fax: 968-4576  Email:  Website:

Since its inception the Mona School of Business has poised itself as an institution of quality through its rigorous academic programmes and the high standards of its staff. Cohort 1 of the Doctoral programme in Business Administration, as beneficiaries of the Schools’ standards, are the pioneers who must continue to blaze the trail of high achievement and success for which the School of Business has come to be recognised. As the first group of students participating in the Doctorate in Business Administration (DBA) you have the opportunity to help Jamaica and, indeed the region to strategically reposition itself as an emerging trade bloc. The doctoral programme can be a truly transformative experience in which you must assume the responsibility for creating knowledge, not just disseminating it. If at the end of the programme you have not created a new product and contributed new bodies of knowledge, then you have failed. The challenges to business development have not really changed much over the years; what must change now is if Jamaica is to become a globally competitive, you must step up to the plate. Opportunities for growth abound in the different economies in the region. Your chance to change the Caribbean landscape is now. Do not lose the opportunity. All the very best in your inaugural business leaders’ conference.

Carolyn Hayle, Ph.D. Executive Director HEART Trust/NTA

Doctorate in Business Administration  Business Development Conference  “Business Development in the Caribbean: Confronting the challenges” Friday April 23 & Saturday, April 24, 2010  Mona Visitors Lodge     


8:15 a.m. – 8: 45 a.m. 

8:45 a.m. – 8:50 a.m. 

Moderator’s Opening Remarks 

Dr. William Lawrence 

8:50 a.m. – 9:20 a.m. 


Prof. the Hon. Gordon Shirley 

9:20 a.m. – 9:50 a.m. 

Keynote Speaker 

Mr. Joseph M. Matalon 

9:50 a.m. – 10:05 a.m. 

COFFEE BREAK (15 mins)  Presentations – National Policy Perspectives  “Success factors for international development projects in  small developing countries: with special reference to  Jamaica”  “Does a high level of public domestic debt negatively affect  growth and business development?  The case of Jamaica”  “Foreign direct investment in the tourism industry;  Drivers  and impact on employment and SMEs in Jamaica”  “Contribution of SMEs to economic development in  Jamaica” 


10:05 a.m. – 10:30 a.m.  10:30 a.m. – 10:55 a.m.  10:55 a.m. – 11:20 a.m.  11:20 a.m. – 11:45 a.m.  11:45 a.m. – 12:10 p.m.  


12:10 p.m. – 1:10 p.m. 

Charmaine Nelson  Archibald Campbell  Dwight Shelly  Leroy Paul  Prof. Brian Meeks 

LUNCH (1 hr) 

Guest Speaker:   Mr. Peter Moses 

Presentations – Wealth Creation and Preservation   1:10 p.m. – 1:35 p.m.  1:35 p.m. – 2:00 p.m.  2:00 p.m. – 2:25 p.m. 

“Financial market openness and monetary control”  "Intellectual Capital ‐ recognition, measurement and  disclosure in a Caribbean context"   “Does industry or firm specific factors determine the value  of public traded firms in Jamaica?” 

Dr. Delroy Hunter   (University of South Florida)  Denis Gray   Winston Butler 

2:25 p.m. – 2:50 p.m. 

“Hedging in non financial firms in the Caribbean”  

Ravi Rambarran 

2:50 p.m. – 3:05 p.m. 

COFFEE BREAK (15 mins)  “Turnaround in the age of turbulence – The empirical effect  of ERM performance on the extent of corporate turnaround”   “The impact of IT investments on firm’s productivity in  Jamaica”  

Yvette Johns   

3:05 p.m.  – 3:30 p.m.  3:30 p.m. – 3:55 p.m. 

Donald Farquharson 

3:55 p.m. – 4:20 p.m. 

“Strategies  for managing  corporate turnaround” 

Jackie Leckie‐Johnson 

4:20 p.m. – 4:45 p.m.  


Dr. Brian Langrin 

4:45 p.m. – 5:00 p.m. 

Moderator’s Closing Remarks 

Dr. William Lawrence 

Doctorate in Business Administration  Business Development Conference  “Business Development in the Caribbean: Confronting the challenges” Friday April 23 & Saturday, April 24, 2010  Mona Visitors Lodge     

DAY 2 PROGRAMME 8:00 a.m. – 8: 15 a.m.  8:15 a.m. – 8:25 a.m. 

REGISTRATION  Moderator’s Opening Remarks 

Presentations – Leadership and Corporate Governance  “Increasing creativity and innovation in organisations:  8:25 a.m. – 8:50 a.m.  Implications for leaders”  “Codes of good corporate governance: a Caribbean  8:50 a.m. – 9:15 a.m.  perspective”   “Globalisation and the Caribbean:  Defining the profile of  9:15 a.m. – 9:40 a.m.  effective resort industry leadership”  “The relationship between the dimensions of corporate  9:40 a.m. – 10:05 a.m.  governance and bank performance”  10:05 a.m. – 10:30 a.m.    Discussant    10:30 a.m. – 10:45 a.m.  COFFEE BREAK (15 mins)  Presentations – Entrepreneurship  and  the SME  “Organisational ambidexterity and  firm performance: An  10:45 p.m. – 11:10 a.m.  examination of the role of owner‐managers and employees”  “The role of business incubation in entrepreneurial  11:10 a.m. – 11:35 p.m.  development in Jamaica” 

Dr. Lawrence Nicholson  Dr. Donna Cooke   (Florida Atlantic University)  Marjorie Campbell  Paul Gardner  Sherry‐Ann Crooks    Prof. Edwin Jones    Silburn Clarke  Vanetta Skeete 

11:35 a.m. – 12:00 p.m. 

“Critical success factors for small businesses in Jamaica” 

Dawn‐Marie Ebanks 

12:00 p.m. – 12:25 p.m. 

“The role of strategic networks in SMEs’  internationalization” 

Cheralee Morgan   

12:25 p.m. – 12:50 p.m. 


12:50 p.m. – 2:00 p.m. 


2:00 p.m. – 2:20 p.m. 

Conference Closing Remarks 

Prof. Rosalea Hamilton  Guest Speaker:  Mr.  Earl Jarrett  Prof. Evan Duggan 

                                                                                            Social Mixer  3:00 p.m. – 6:00 p.m.     

Meet and Greet 

Senior Common Room    


Wealth Creation and Preservation

Dr. Delroy Hunter

Dr. Hunter earned his Ph.D. from the University of Warwick, U.K., a Master’s from the University of Florida, and a B.Sc. from the University of the West Indies, Jamaica. Prior to joining the faculty at USF in 2001, Dr. Hunter taught at Bentley College, the University of the West Indies, and the University of Warwick. He has taught a wide range of courses at the undergraduate, MBA, Executive MBA, and doctoral levels. His research, which focuses primarily on Investments, International Finance, and Empirical Asset Pricing, has been published in the Journal of Business, Journal of International Money and Finance, Journal of Banking and Finance, Journal of Financial Research, Journal of Fixed Income, and other journals. His research has won the prestigious Goldman Sachs Quant award for the best paper in Investments at the 2005 Western Finance Association conference and has been included in the top 10 most frequently downloaded papers in International Finance (2002, 2004) and Financial Institutions and Markets (2004) on the Social Science Research Network. In addition, Dr. Hunter has presented his research at top regional, national, and international academic conferences and is the recipient of the USF College of Business Administration Research Achievement Award for 2005 and a competitive Summer Research Grant for 2006.

“Business Development in the Caribbean:  Confronting the Challenges”   


Leadership and Corporate Governance

Dr. Donna K Cooke

Dr. Donna K Cooke is the Associate Dean at the College of Business at the Florida Atlantic University and an Associate Professor. Dr. Cooke earned her PhD from the University of Miami with a major in Organisational Psychology. Her current teaching and research interests include organizational commitment, entrepreneurship, cross-cultural management and OB aspects of technology. Her recent publications include “Contemporary issues in the development of Caribbean economies: A comprehensive analysis”, “Social Interaction and Coordination: Management and Organizational Behavior in Virtual Communities” and “AfricanAmerican business ownership: Strength in numbers, but where?”

“Business Development in the Caribbean:  Confronting the Challenges”   

SPONSORS _________________________________________________________________________________________________________________________________________________________________________________________

The Conference Planning Committee acknowledges the invaluable contribution of our sponsors without whom this conference would not be possible.




Intertrade Finance











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Document Access: Conference presentations may be viewed at :

Cohort Website :

DBA 2010 Conference Planning Committee   Jacqueline Leckie-Johnson:

Chair, Secretariat

Charmaine Nelson:

Chair, Programmes

Elicif Arthurs:

Chair, Facilities

Dawn-Marie Ebanks:

Chair, Finance

Cheralee Morgan:

Chair, Media & Brochure

Denis Gray:


Archibald Campbell:


Silburn Clarke:

Technology, Brochure, Media

Handout - DBA 2010 Conference  

Printed version of conference handout

Handout - DBA 2010 Conference  

Printed version of conference handout