Search results for: Labor Market

Authors: Lourenço José, Elsa Melo, Sandra Viera, Ana Pinheiro

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Introduction: People with stroke in Angola face challenges in accessing appropriate healthcare and rehabilitation services. There is a lack of information on the quality of care provided and the development of early intervention plans Methods: Two different methods will be chosen. The exploratory, descriptive, and longitudinal study (E1) to characterize health care for people with stroke, housed in 2 hospitals in Luanda; the quality and transverse study (E2) concerning the development and evaluation of a strategic early intervention plan for a stroke patient. Ethical and deontological principles for an investigation will be proposed. Results: Contributor to the knowledge of the reality of providing care to the person after a stroke, in Angola; Propose and develop an early action plan. Contribute to integration to influence policy makers on the need for assistance with stroke, aiming at their functional, family and social rehabilitation, particularly in the labor market.

Keywords: stroke, functional recovery, quality of life, health

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Authors: Nazli Kazanoglu

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Reconciliation of work and family life has been an area of interest within the academic as well as in the political debate for more than three decades. With the dramatic changes in the extent to which women and men contribute to unpaid domestic work and paid employment, the reconciliation of work and family life issues have become more prominent than ever before. And they have begun to enjoy an increased attention of policy makers both at the EU and national levels. Over the last three decades the EU has initiated numerous equality programs and strategies and roadmaps regarding reconciliation of work and family life, though particularly because of the crisis and increasing willingness of achieving the EUs target of seventy five per cent of men and women in employment by 2020, those programs, strategies and roadmaps emphasized on eradicating womens familial burdens while entering labor market and providing them as equal opportunities as their male counterparts have. Reconciliation of work and family life policies thus bit by bit moved away from the objectives with a strong commitment to ensuring gender equality towards employment objectives. This paper is thus an endeavor to look at the nature of EU reconciliation of work and family life policies from the angle of gender equality. More precisely relying on the feminist literature, this paper rests on the assumption that reconciliation of work and family policies should provide the sufficient measures indeed with a more emphasis on endorsing gender equality rather than economic concerns and prioritizes two inter-related aspects while evaluating the gender equality of reconciliation of work and family life policies. First providing free choice to women in terms of their family and work lives and second challenge the unequal division of labor at home. In that sense, it investigates the nature of the changing uses and meanings of gender equality in reconciliation of work and family life policies in different stages of the EU social policy development particularly after the introduction of European Employment Strategy which gave a tremendous importance to reconciliation of work and family life during their collaborations with other issues on the EU agenda as well as the major rationale behind their development and implementation and locates them in terms of two inter-related parameters mentioned above.

Keywords: European Union, division of unpaid work, gender equality, rhetoric of free choice

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Authors: Naod Mekonnen Anega

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The very objective of this paper was to empirically identify technology tailored determinants to the adoption and adoption intensity (extent of use) of agricultural water management technologies in Meda Welabu Woreda, Oromia regional state, Ethiopia. Meda Welabu Woreda which is one of the administrative Woredas of the Oromia regional state was selected purposively as this Woreda is one of the Woredas in the region where small scale irrigation practices and the use of agricultural water management technologies can be found among smallholders. Using the existence water management practices (use of water management technologies) and land use pattern as a criterion Genale Mekchira Kebele is selected to undergo the study. A total of 200 smallholders were selected from the Kebele using the technique developed by Krejeie and Morgan. The study employed the Logit and Tobit models to estimate and identify the economic, social, geographical, household, institutional, psychological, technological factors that determine adoption and adoption intensity of water management technologies. The study revealed that while 55 of the sampled households are adopters of agricultural water management technology the rest 140 were non adopters of the technologies. Among the adopters included in the sample 97% are using river diversion technology (traditional) with traditional canal while the rest 7% percent are using pond with treadle pump technology. The Logit estimation reveled that while adoption of river diversion is positively and significantly affected by membership to local institutions, active labor force, income, access to credit and land ownership, adoption of treadle pump technology is positively and significantly affected by family size, education level, access to credit, extension contact, income, access to market, and slope. The Logit estimation also revealed that whereas, group action requirement, distance to farm, and size of active labor force negative and significantly influenced adoption of river diversion, age and perception has negatively and significantly influenced adoption decision of treadle pump technology. On the other hand, the Tobit estimation reveled that while adoption intensity (extent of use) of agricultural water management is positively and significantly affected by education, credit, and extension contact, access to credit, access to market and income. This study revealed that technology tailored study on adoption of Agricultural water management technologies (AWMTs) should be considered to indentify and scale up best agricultural water management practices. In fact, in countries like Ethiopia, where there is difference in social, economic, cultural, environmental and agro ecological conditions even within the same Kebele technology tailored study that fit the condition of each Kebele would help to identify and scale up best practices in agricultural water management.

Keywords: water management technology, adoption, adoption intensity, smallholders, technology tailored approach

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Authors: Xue Junwei

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In the global economy, multinational corporations face challenges due to cultural differences impacting consumer behavior. Understanding these influences is vital for effective business decisions in the Chinese market. This study aims to analyze how cultural differences affect consumer behavior when multinational corporations enter the Chinese market, using cultural dimensions theory to derive marketing mix strategies. The study employs statistical analysis of cultural dimensions to investigate the impact on consumer behavior and derive marketing strategies for multinational corporations entering the Chinese market. Furthermore, this study enhances the study by incorporating qualitative data to complement the statistical analysis, providing a more comprehensive understanding of cultural impacts on consumer behavior. The study reveals significant implications of cultural differences on consumer behavior and provides insights into tailored marketing mix strategies for multinational corporations in the Chinese market. This research contributes to the theoretical understanding of how cultural dimensions influence consumer behavior and provides practical implications for multinational corporations entering the Chinese market. Data on cultural dimensions are collected and analyzed statistically and qualitatively to understand their impact on consumer behavior and derive effective marketing strategies. This study concludes that cultural differences have a profound impact on consumer behavior in the Chinese market, and understanding these nuances is crucial for the success of multinational corporations. Tailored marketing strategies are essential for navigating these cultural challenges.

Keywords: marketing, multinational company, globalization, cultural differences

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Hammad Riaz, Abubakr Saeed

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Environmental Management System (EMS), i.e., ISO 14001 helps to build corporate reputation, legitimacy and can also be considered as firms’ strategic response to institutional pressure to reduce the impact of business activity on natural environment. The financial outcomes of certifying with ISO 14001 are still unclear and equivocal. Drawing on institutional and market learning theories, the impact of ISO 14001 on firms’ market performance is examined for Chinese firms. By employing rigorous event study approach, this paper compared ISO 14001 certified firms with non-certified counterpart firms based on different matching criteria that include size, return on assets and industry. The results indicate that the ISO 14001 has been negatively signed by the investors both in the short and long-run. This paper suggested implications for policy makers, managers, and other nonprofit organizations.

Keywords: ISO 14001, legitimacy, institutional forces, event study approach, emerging markets

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Authors: Sudeshna Sengupta

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Women’s work lives weave a complex fabric of myriad work relations and complex structures. Lives, when seen from the lens of work, is a saga of conjugated oppression by intertwined structures that are vertically and horizontally interwoven in a very complex manner. Women interact with multiple institutions through their work. The interactions and interplay of institutions shape their organization of work. They intersperse productive work with reproductive work, unpaid economic activities with unpaid care work, and all kinds of activities with leisure and self-care. The proposed paper intends to understand how women working as home-based workers in the National Capital Region (NCR) of India are organizing their everyday work, and how the organization of work is influenced by the interplay of structures. Situating itself in a multidisciplinary theoretical framework, this paper brings out how the gendering of work is playing out in the political, economic and social domain and shaping the work-life within the family, and in the paid workspace. The paper will use a primary data source, which is qualitative in nature. It will comprise 15 qualitative interviews of women home-based workers from the National Capital Region. The research uses a life history approach. The sampling was purposive using snowballing as a method. The dataset is part of the primary data (qualitative) collected for the ongoing Ph.D. work in Gender Studies at Ambedkar University Delhi. The home-based workers interviewed were in “non-factory” wage relations based on piece rates with flexible working hours. Their workplaces were their own homes with no spatial divide between living spaces and workspaces. Home-based workers were recognized as a group in the domain of labor economics in the 1980s. When menial work was cheaper than machine work, the capital owners preferred to outsource work as home-based work to women. These production spaces are fragmented and the identity of gender is created within labor processes to favor material accumulation. Both the employers and employees acknowledged the material gain of the capital owner when work was subcontracted to women at home. Simultaneously the market reinforced women’s reproductive role by conforming to patriarchal ideology. The contractors played an important role in implementing localized control on workers and also in finding workers for fragmented, gendered production processes. Their presence helped the employers in bringing together multiple forms of oppression that ranged from creating a structure to flout laws by creating shadow employers. It created an intertwined social and economic structure as well as a workspace where the line between productive and reproductive work gets blurred. The state invisibilized itself either by keeping the sector out of the domain of laws or by not implementing its own laws regulating working conditions or social security. It allowed the local hierarchy to function and define localized working conditions. The productive reproductive continuum reveals a labor control that influenced both the productive and reproductive work of women.

Keywords: informal sector, paid work, women workers, labor processes

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Authors: Sasitorn Chetanont

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The objectives of this study are to find out the approaches to promote healthy recreation activities for elderly tourists and develop Bang Nam Phueng Floating Market to be a health tourism attraction. The research methodology was to analyze internal and external situations according to MP-MF and the MC-STEPS principles. As for the results of this study the researcher found that the healthy recreational activities for elderly tourists could be divided in 7 groups; travelling Bang Nam Phueng Floating Market activity, homestay relaxation, arts center platform activity, healthy massage activity, paying homage to a Buddha image activity, herbal joss-stick home activity, making local desserts and food activity.

Keywords: elderly tourists, recreation activities, Bang Nam Phueng Floating Market, health tourism

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Authors: D. Tloczynski

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The main aim of this article is to present a balance of the decade of Polish air transport market in the European Union having taking into account selected entities of the aviation market. This article analyzes the functioning of the Polish air transport market after the Polish accession to the European Union. During the study two main areas were pointed: shipping activity and activity of the airports. The most important benefits of integration and the benefits of introducing of the open sky policy were indicated. The last part of the article presents the perspectives of development of air traffic.

Keywords: air transport, airports, development air transport, European Union, Poland

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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Authors: Chaiwat Kongsom, Vitoon Panyakul

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The objective of this study was to assess the production and market of certified organic products in Thailand. A purposive sampling technique was used to identify a sample group of 154 organic entrepreneurs for the study. A survey and in-depth interview were employed for data collection. Also, secondary data from organic agriculture certification body and publications was collected. Then descriptive statistics and content analysis technique were used to describe about production and market of certified organic products in Thailand. Results showed that there were 9,218 farmers on 213,183.68 Rai (83,309.2 acre) of certified organic agriculture land (0.29% of national agriculture land). A total of 57.8% of certified organic agricultural lands were certified by the international certification body. Organic farmers produced around 71,847 tons/year and worth around THB 1,914 million (Euro 47.92 million). Excluding primary producers, 471 operators involved in the Thai organic supply chains, including processors, exporters, distributors, green shops, modern trade shops (supermarket shop), farmer’s markets and food establishments were included. Export market was the major market channel and most of organic products were exported to Europe and North America. The total Thai organic market in 2014 was estimated to be worth around THB 2,331.55 million (Euro 58.22 million), of which, 77.9% was for export and 22.06% was for the domestic market. The largest exports of certified organic products were processed foods (66.1% of total export value), followed by organic rice (30.4%). In the domestic market, modern trade was the largest sale channel, accounting for 59.48% of total domestic sales, followed by green shop (29.47%) and food establishment (5.85%). To become a center of organic farming and trading within ASEAN, the Thai organic sector needs to have more policy support in regard to agricultural chemicals, GMO, and community land title. In addition, appropriate strategies need to be developed.

Keywords: certified organic products, production, market, Thailand

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Authors: Carlo Gozzelino

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Since the early 2000s, the phenomenon of the two-sided markets has been of growing interest in academic literature as such kind of markets differs by having cross-side network effects and same-side network effects characterizing the transactions, which make the analysis different when compared to traditional seller-buyer concept. Due to such externalities, pricing strategies can be based on subsidizing the participation of one side (i.e. considered key for the platform to attract the other side) while recovering the loss on the other side. In recent years, several players of the Italian financial intermediation industry moved from an integrated landscape (i.e. selling their own products) to an open one (i.e. intermediating third party products). According to academic literature such behavior can be interpreted as a merchant move towards a platform, operating in a two-sided market environment. While several application of two-sided market framework are available in academic literature, purpose of this paper is to use a two-sided market concept to suggest a new framework applied to financial intermediation. To this extent, a model is developed to show how competitors behave when vertically integrated and how the peculiarities of a two-sided market act as an incentive to disintegrate. Additionally, we show that when all players act as a platform, the dynamics of a two-sided markets can allow at least a Nash equilibrium to exist, in which platform of different sizes enjoy positive profit. Finally, empirical evidences from Italian market are given to sustain – and to challenge – this interpretation.

Keywords: financial intermediation, network externalities, two-sided markets, vertical differentiation

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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This paper is a concise introduction of the risk management on the water derivatives market. Water, a new commodity in the market, is one of the most important commodity on earth. As important to life and planet as crops, metals, and energy, none of them matters without water. This paper presents a brief overview of water as a tradable commodity via a new first of its kind futures contract on the Nasdaq Veles California Water Index (NQH2O) derivative instrument, TheGeneralised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be the used to measure the water price volatility of the instrument and its performance since it’s been traded. describe the main products and illustrate their usage in risk management and also discuss key challenges with modeling and valuation of water as a traded commodity and finally discuss how water derivatives may be taken as an alternative asset investment class.

Keywords: water derivatives, commodity market, nasdaq veles california water Index (NQH2O, water price, risk management

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Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

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This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

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Authors: Chih Chin Yang

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The paper proposed a new theory of intellectual capital (so called IC) and a value approach in associated with production and market. After an in-depth review and research analysis of leading firms in this field, a holistic intellectual capital model is discussed, which involves transport, delivery supporting, and interface and systems of on intellectual capital. Through a quantity study, it is found that there is a significant relationship between the product value and infrastructure in a company. The product values are transferred from intellectual capital elements which includes three elements of content and the enterprise includes three elements of infrastructure in its market and product values of enterprise.

Keywords: enterprise, product value, intellectual capital, market and product values

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Authors: Yinglisong, Jingge Chen, Jingxuan Chen, Yan Wang, Hui Huang, Jing Zhnag, Qianqian Zhang, Zhenzhen Zhang, Ji Zhang

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Purpose: The study aims to establish a nomogram prediction model for postpartum hemorrhage (PPH) in vaginal delivery. Patients and Methods: Clinical data were retrospectively collected from vaginal delivery patients admitted to a hospital in Zhengzhou, China, from June 1, 2022 - October 31, 2022. Univariate and multivariate logistic regression were used to filter out independent risk factors. A nomogram model was established for PPH in vaginal delivery based on the risk factors coefficient. Bootstrapping was used for internal validation. To assess discrimination and calibration, receiver operator characteristics (ROC) and calibration curves were generated in the derivation and validation groups. Results: A total of 1340 cases of vaginal delivery were enrolled, with 81 (6.04%) having PPH. Logistic regression indicated that history of uterine surgery, induction of labor, duration of first labor, neonatal weight, WBC value (during the first stage of labor), and cervical lacerations were all independent risk factors of hemorrhage (P <0.05). The area-under-curve (AUC) of ROC curves of the derivation group and the validation group were 0.817 and 0.821, respectively, indicating good discrimination. Two calibration curves showed that nomogram prediction and practical results were highly consistent (P = 0.105, P = 0.113). Conclusion: The developed individualized risk prediction nomogram model can assist midwives in recognizing and diagnosing high-risk groups of PPH and initiating early warning to reduce PPH incidence.

Keywords: vaginal delivery, postpartum hemorrhage, risk factor, nomogram

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Authors: Mohit Kumar, Mayur Betharia

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Healthcare domain, with the emergence of Electronic Medical Record (EMR), collects a lot of data which have been attracting Data Mining expert’s interest. In the past, doctors have relied on their intuition while making critical clinical decisions. This paper presents the means to analyze the Medical workflows to get business insights out of huge dumped medical databases. Market Basket Analysis (MBA) which is a special data mining technique, has been widely used in marketing and e-commerce field to discover the association between products bought together by customers. It helps businesses in increasing their sales by analyzing the purchasing behavior of customers and pitching the right customer with the right product. This paper is an attempt to demonstrate Market Basket Analysis applications in healthcare. In particular, it discusses the Market Basket Analysis Algorithm ‘Apriori’ applications within healthcare in major areas such as analyzing the workflow of diagnostic procedures, Up-selling and Cross-selling of Healthcare Systems, designing healthcare systems more user-friendly. In the paper, we have demonstrated the MBA applications using Angiography Systems, but can be extrapolated to other modalities as well.

Keywords: data mining, market basket analysis, healthcare applications, knowledge discovery in healthcare databases, customer relationship management, healthcare systems

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Authors: Chanpen Meenakorn

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This research aims to study; (1) behavior of the tourists affecting the satisfaction level of tourism at the Amphawa floating market in Samut Songkhram province, (2) to study the satisfaction level of tourism at the Amphawa floating market. The research method will use quantitative research; data was collected by questionnaires distributed to the tourist who visits the Amphawa floating market for 480 samples. Data was analyzed by SPSS software to process descriptive statistic including frequency, percentage, mean, standard deviation and inferential statistic is t-test, F-test, and chi-square. The results showed that the behavior of tourists had known tourist attractions in the province comes from the mouth of relatives and friends suggested that he come here before and the reasons to visit is to want to pay homage to the various temples for the frequency to visit travel an average of 2-4 times and  the satisfaction of the tourists in the province found that the satisfaction level of tourists in the province at the significant level of the place, convenient  and services have a high level of satisfaction.

Keywords: amphawa floating market behavior of the tourists, satisfaction level, sustainable tourism, Samut Songkhram province

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Authors: Elbert S. Moyon, Edsel Matt O. Morales, Jaymer M. Jayoma, Kent C. Espejon, Jayson C. Dollete, Mark Phil B. Pacot

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This research paper focuses on the potential of using Web-GIS technology in prioritizing farm-to-market road projects by the Philippines’ Department of Agriculture (DA). The study aimed to explore the benefits of Web-GIS in addressing the limitations faced by the DA in terms of Farm to Market Road profiling and project prioritization, which include a lack of access to updated data, limited spatial analysis capabilities, and difficulties in sharing information between stakeholders. The research methodology involves a comprehensive literature review and a case study of a Web-GIS application developed for the DA, which was used to profile and prioritize farm-to-market road projects in the Philippines. The results showed that the Web-GIS technology provides the DA with an effective tool for analyzing and visualizing data, which can help in profiling and prioritizing road projects based on various criteria such as economic, social, and environmental impacts. The study also showed that Web-GIS technology could help in reducing the time and effort required for road project prioritization and improve communication between stakeholders.

Keywords: GIS, web application, farm-to-market road, FMR prioritization, Django, GeoServer

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Authors: Golamhassan Ghahramani Aghdam, Pedram Bavili Tabrizi

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The aim of this research is to investigate the relationship between accounting information and the value of the companies accepted in Tehran Exchange Market. The dependent variable in this research is the value of a company that is measured by price coefficients, and the independent variables are balance sheet information, profit and loss information, cash flow state information, and profit quality characteristics. The profit quality characteristic index is to be related and to be on-time. This research is an application research, and the research population includes all companies that are active in Tehran exchange market. The number of 194 companies was selected by the systematic method as the statistics sample in the period of 2018-2019. The multi-variable linear regression model was used for the hypotheses test. The results show that there is no relationship between accounting information and companies’ value (stock value) that can be due to the lack of efficiency of the investment market and the inability to use the accounting information by investment market activists.

Keywords: accounting information, company value, profit quality characteristics, price coefficient

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Authors: Emiko Suzuki

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Although some claim that we are in a post-feminist society, the word “postfeminism” still raises questions to many. In postfeminist media, as a British sociologist Rosalind Gill points out, on the one hand, it seems to promote an empowering image of women who are active, positively sexually motivated, has free will to make market choices, and have surveillance and discipline for their personality and body, yet on the other hand, such beautiful and attractive feminist image imposes stronger surveillance of their mind and body for women. Similar representation, which is that femininity is described in a contradictive way, is seen in Japanese media as well. This study tries to capture how post-feminist Japanese media is, contrary to its ostensible messages, encouraging women to join the obedience to the labor system by affirming the traditional image of attractive women using sexual objectification and promoting values of neoliberalism. The result shows an interesting insight into how Japanese media is creating a conflicting ideal representation of women through repeatedly exposing such images.

Keywords: postfeminism, Japanese media, sexual objectification, embodiment

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Authors: Zakir Hossain

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Nowadays reading e-books on laptops, smartphones, and tablets have become a new leisure activity for Vietnamese youth. Since 2011 the copyrighted e-book market began to develop in Vietnam with the participation of five local enterprises. Over the last five years, thousands of e-books were published including the first online early education book series for children from 0 to 6 years old. Research shows that 61% Vietnamese find reading e-books is comfortable, and 45% feel convenient buying books online. More than half of the Vietnamese consider reading online far better than buying printed books, and surprisingly people over age 30 desire reading online while those under 18 prefer reading printed books. Hence with a market of more than 40 million regular internet users including 22 million smartphone users, Vietnam has ample opportunities to develop the e-book market and contribute a great deal to the diversity of the local reading culture which is essential for Building a Lifelong Learning Society, a state ambition of Vietnam by 2020. However, the e-book market in Vietnam is still in its infancy and is growing far too slowly than e-book producers had expected. All five e-book enterprises are facing numerous challenges. While the big profit that e-book technology can bring has been clearly recognised in other countries, e-books in Vietnam only make up less than 1% share of the book market. The objective of the study is to identify the difficulties and barriers to the development of the e-book market in Vietnam through an extensive literature review available in English. The study revealed that illegal e-books due to copyright infringement and an inconvenient payment system to purchase e-books are the major obstacles. The great potential of e-books in Vietnam is a reality but requires government enforcement of copyright protection laws, a new area of focus for the e-book market. Furthermore, Vietnamese readers should change their habits from using free and illegal e-books to develop the e-publishing industry in Vietnam.

Keywords: copyright, e-book, e-book reading, e-publishing, Vietnam

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Authors: Abderrazek Ben Maatoug, Ibrahim Fatnassi, Wassim Ben Ayed

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In this paper we investigate the issue of market risk quantification for Middle East and North Africa (MENA) Islamic market equity. We use Value-at-Risk (VaR) as a measure of potential risk in Islamic stock market, for long and short position, based on Riskmetrics model and the conditional parametric ARCH class model volatility with normal, student and skewed student distribution. The sample consist of daily data for the 2006-2014 of 11 Islamic stock markets indices. We conduct Kupiec and Engle and Manganelli tests to evaluate the performance for each model. The main finding of our empirical results show that (i) the superior performance of VaR models based on the Student and skewed Student distribution, for the significance level of α=1% , for all Islamic stock market indices, and for both long and short trading positions (ii) Risk Metrics model, and VaR model based on conditional volatility with normal distribution provides the best accurate VaR estimations for both long and short trading positions for a significance level of α=5%.

Keywords: value-at-risk, risk management, islamic finance, GARCH models

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Authors: Mahmoud Hassan

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Understanding the impact of market- and non-market-based environmental policy instruments on renewable energy consumption (REC) is crucial for the design and choice of policy packages. This study aims to empirically investigate the effect of environmental policy stringency index (EPS) and its components on REC in 27 OECD countries over the period from 1990 to 2015, and then use the results to identify what the appropriate environmental policy mix should look like. By relying on the two-step system GMM estimator, we provide evidence that increasing environmental policy stringency as a whole promotes renewable energy consumption in these 27 developed economies. Moreover, policymakers are able, through the market- and non-market-based environmental policy instruments, to increase the use of renewable energy. However, not all of these instruments are effective for achieving this goal. The results indicate that R&D subsidies and trading schemes have a positive and significant impact on REC, while taxes, feed-in tariff and emission standards have not a significant effect. Furthermore, R&D subsidies are more effective than trading schemes for stimulating the use of clean energy. These findings proved to be robust across the three alternative panel techniques used.

Keywords: environmental policy stringency, renewable energy consumption, two-step system-GMM estimation, linear dynamic panel data model

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Authors: Marc S. Paolella, Pawel Polak

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The paper proposes a framework for large-scale portfolio optimization which accounts for all the major stylized facts of multivariate financial returns, including volatility clustering, dynamics in the dependency structure, asymmetry, heavy tails, and non-ellipticity. It introduces a so-called risk fear portfolio strategy which combines portfolio optimization with active risk monitoring. The former selects optimal portfolio weights. The latter, independently, initiates market exit in case of excessive risks. The strategy agrees with the stylized fact of stock market major sell-offs during the initial stage of market downturns. The advantages of the new framework are illustrated with an extensive empirical study. It leads to superior multivariate density and Value-at-Risk forecasting, and better portfolio performance. The proposed risk fear portfolio strategy outperforms various competing types of optimal portfolios, even in the presence of conservative transaction costs and frequent rebalancing. The risk monitoring of the optimal portfolio can serve as an early warning system against large market risks. In particular, the new strategy avoids all the losses during the 2008 financial crisis, and it profits from the subsequent market recovery.

Keywords: comfort, financial crises, portfolio optimization, risk monitoring

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Authors: Seyi Olalekan Olawuyi, Abbyssiania Mushunje

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The potential benefits of agricultural production to improve the welfare condition of smallholder farmers in developing countries is no more a news because it has been widely documented. Yet majority of these farming households suffer from shortfall in production output to meet both the consumption needs and market demand which adversely affects output market participation and by extension welfare condition. Therefore, this study investigated the impacts of output market participation on households’ welfare of cassava-based farmers in Oyo State, Nigeria. Multistage sampling technique was used to select 324 sample size used for this study. The findings from the data obtained and analyzed through composite score and crosstab analysis revealed that there is varying degree of output market participation among the farmers which also translate to the observed welfare profile differentials in the study area. The probit model analysis with respect to the selection equation identified gender of household head, household size, access to remittance, off-farm income and ownership of farmland as significant drivers of output market participation in the study area. Furthermore, the treatment effect model of the welfare equation and propensity score matching (PSM) technique were used as robust checks; and the findings attest to the fact that, complimentarily with other significant variables highlighted in this study, output market participation indeed has a significant impact on farming households’ welfare. As policy implication inferences, the study recommends female active inclusiveness and empowerment in farming activities, birth control strategies, secondary income smoothing activities and discouragement of land fragmentation habits, to boost productivity and output market participation, which by extension can significantly improve farming households’ welfare.

Keywords: Cassava market participation, households' welfare, propensity score matching, treatment effect model

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Authors: Ly Nguyen, Vidit Munshi

Abstract:

During the Covid-19 recession, the United States government has implemented several instruments to mitigate the impacts and revitalize the economy. This paper explores the effects of the various government policy decisions on stock returns, housing prices, and investor psychology during the pandemic in the United States. A numerous previous literature studies on this subject, yet very few focus on the context similar to what we are currently experiencing. Our monthly data covering the period from January 2019 through July 2021 were collected from Datastream. Utilizing the VAR model, we document a dynamic relationship between the market and policy actions throughout the period. In particular, the movements of Unemployment, Stock returns, and Housing prices are strongly sensitive to changes in government policies. Our results also indicate that changes in production level, stock returns, and interest rates decisions influence how investors perceived future market risk and expectations. We do not find any significant nexus between monetary and fiscal policy. Our findings imply that information on government policy and stock market performance provide useful feedback to one another in order to make better decisions in the current and future pandemic. Understanding how the market responds to a shift in government practices has important implications for authorities in implementing policy to avoid assets bubbles and market overreactions. The paper also provides useful implications for investors in evaluating the effectiveness of different policies and diversifying portfolios to minimize systematic risk and maximize returns.

Keywords: Covid-19 recession, United States, government policies, investor psychology, housing prices, stock market returns

Procedia PDF Downloads 172

Authors: Mehdi Seifbarghy, Zahra Nasiri

Abstract:

Competitive location problem deals with locating new facilities to provide a service (or goods) to the customers of a given geographical area where other facilities (competitors) offering the same service are already present. The new facilities will have to compete with the existing facilities for capturing the market share. This paper proposes a new model to maximize the market share in which customers choose the facilities based on traveling time, waiting time and attractiveness. The attractiveness of a facility is considered as a parameter in the model. A heuristic is proposed to solve the problem.

Keywords: competitive location, market share, facility attractiveness, heuristic

Procedia PDF Downloads 523

Authors: Olivia Rybak-Karkosz

Abstract:

Art forgery is a serious problem present in the art market in every country despite its scale and experience. In the Polish art market, this problem has existed since its beginnings. The market expansion in recent years attracted new buyers, which led to growing prices of polish art. And that attracted deceitful sellers who supply the market with forgeries. Moreover, there are many new types of buyers, many of whom are art non-specialists. But even the most experienced collectors must be cautious when purchasing a piece of art. In this paper, the author would like to discuss legal acts in Polish law that criminalize the forgery of a piece of art and compare them with similar regulations from four European countries - the Italian Republic, Kingdom of the Netherlands, French Republic, and the Federal Republic of Germany. The author wants to verify if any solutions could inspire Polish legislators to implement them in domestic law to help reduce this crime and improve the criminal procedure of art forgery. The paper contains a concluding statement to implement a similar solution used in one of the presented countries.

Keywords: art forgery, comparative law, criminal law, criminal liability, protection of works of art

Procedia PDF Downloads 89

Authors: Yong-Heng Shi, Peng Hao, Bai-Chen Xie

Abstract:

Solar prosumers are playing increasingly prominent roles in the power system. However, its uncertainty affects the outcomes and functions of the power market, especially in the asymmetric information environment. Therefore, an important issue is how to take effective measures to reduce the impact of uncertainty on market equilibrium. We propose a two-level stochastic differential game model to explore the Cournot decision problem of prosumers. In particular, we study the impact of punishment and cooperation mechanisms on the efficiency of the Cournot game in which prosumers face uncertainty. The results show that under the penalty mechanism of fixed and variable rates, producers and consumers tend to take conservative actions to hedge risks, and the variable rates mechanism is more reasonable. Compared with non-cooperative situations, prosumers can improve the efficiency of the game through cooperation, which we attribute to the superposition of market power and uncertainty reduction. In addition, the market environment of asymmetric information intensifies the role of uncertainty. It reduces social welfare but increases the income of prosumers. For regulators, promoting alliances is an effective measure to realize the integration, optimization, and stable grid connection of producers and consumers.

Keywords: Cournot games, power market, uncertainty, prosumer cooperation

Procedia PDF Downloads 107