Search results for: market opportunity

Authors: Sinchul Back, Sun Ho Kim, Jennifer LaPrade, Ilju Seong

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Due to the advantage of using the Internet, cybercriminals can reach target(s) without border controls. Prior research on criminology and crime science has largely been void of empirical studies on journey-to-cybercrime and crime opportunity. Thus, the purpose of this study is to understand more about cyber offender spatial decision making associated with crime opportunity factors (i.e., co-offending, offender-stranger). Data utilized in this study were derived from 306 U.S. Federal court cases of cybercrime. The findings of this study indicated that there was a positive relationship between co-offending and journey-to-cybercrime, whereas there was no link between offender-stranger and journey-to-cybercrime. Also, the results showed that there was no relationship between cybercriminal sex, age, and journey-to-cybercrime. The policy implications and limitations of this study are discussed.

Keywords: co-offending, crime opportunity, journey-to-cybercrime, offender-stranger

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Authors: Arunas Burinskas, Manuela Tvaronavičienė

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Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms.

Keywords: market, structure, simulation, heterogenous firms

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Authors: Cem Ozatalay, Senem Ornek

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The Artprice Contemporary Art Market Annual Report 2014 notices that Istanbul, with its art market volume of $3.6 million has become the first city of the Middle East and North Africa region and the 14th city of the World. Indeed, the period 2004–2014 has been significant in terms of the growth of the art market, during which the majority of contemporary art galleries and museums in Istanbul was inaugurated. This boom means that with the joining of new agents, the structure of the art market has dramatically changed. To use Nathalie Heinich’s terminology, in the current art field, three art genres – namely classical art, modern art and contemporary art – coexist, but in the case of Istanbul, such as many art cities in the world, the latter genre has become increasingly dominant. This presentation aims to show how the power shifts away from the classical art agents to contemporary art agents, and the effects produced by the conflicts between the old and new agents of current art field. Based on the data obtained from an ongoing field research in Istanbul among the art market agents such as art dealers, curators, art critics and artists, it will be shown that even if the agents of different art genres are in conflict with each other, there is, at the same time, a continuum between the three art worlds.

Keywords: contemporary art market, economic sociology of art, Istanbul art market, structure of the art field in Istanbul

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Authors: Patrik Jangl, Milan Mikuláštík

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The objective of the paper is to measure and compare market orientation of Swiss and Czech banks, as well as examine statistically the degree of influence it has on competitiveness of the institutions. The analysis of market orientation is based on the collecting, analysis and correct interpretation of the data. Descriptive analysis of market orientation describe current situation. Research of relation of competitiveness and market orientation in the sector of big international banks is suggested with the expectation of existence of a strong relationship. Partially, the work served as reconfirmation of suitability of classic methodologies to measurement of banks’ market orientation. Two types of data were gathered. Firstly, by measuring subjectively perceived market orientation of a company and secondly, by quantifying its competitiveness. All data were collected from a sample of small, mid-sized and large banks. We used numerical secondary character data from the international statistical financial Bureau Van Dijk’s BANKSCOPE database. Statistical analysis led to the following results. Assuming classical market orientation measures to be scientifically justified, Czech banks are statistically less market-oriented than Swiss banks. Secondly, among small Swiss banks, which are not broadly internationally active, small relationship exist between market orientation measures and market share based competitiveness measures. Thirdly, among all Swiss banks, a strong relationship exists between market orientation measures and market share based competitiveness measures. Above results imply existence of a strong relation of this measure in sector of big international banks. A strong statistical relationship has been proven to exist between market orientation measures and equity/total assets ratio in Switzerland.

Keywords: market orientation, competitiveness, marketing strategy, measurement of market orientation, relation between market orientation and competitiveness, banking sector

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Authors: Marianna Russo

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Ageing population and youth unemployment are the major challenges that Western Countries – and Italy in particular – are facing in recent years. These phenomena have a significant impact not only on the labour market and the welfare system, but also on the organisational models of work. Therefore, in Italy, in the past few years, there have been some attempts to regulate the management of generational turn-over: intergenerational pacts, early retirement incentives, solidarity contracts, etc. In particular, this paper aims to focus on the expansive solidarity contracts, that were introduced in the Italian legal system for the first time in 1984. Indeed, they have been little used during the thirty years of their lives, so the Legislative Decree no. 148/2015, implementing the so-called Jobs Act, has given them another opportunity. The paper tries to analyse the rules and the empirical data, looking for a sustainable model of generational turn-over management.

Keywords: ageing population, generational turn-over, Italian jobs' act, solidarity contracts

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Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: Sun-Ki Choi

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The U.S. student loan policy was initiated to improve the equality of educational opportunity and help low-income families to provide higher education opportunities for their children. However, with the increase in the average student loan amount, college graduates with student loans experience problems and restrictions in their early-career choices. This study examines the early career labor market choices of college graduates who obtained student loans to finance their higher education. In this study, National Survey of College Graduates (NSCG) data for 2017 and 2019 was used to estimate the effects of student loans on the employment status and current job wages of graduates with student loans. In the analysis, two groups of workers, those with student loans and those without loans, were compared. Using basic models and Mahalanobis distance matching, it was found that graduates who rely on student loans to finance their education are more likely to participate in the labor market than those who do not. Moreover, in entry-level jobs, graduates with student loans receive lower salaries than those without student loans. College graduates make job-related decisions based on their current and future wages and fringe benefits. Graduates with student loans tend to demonstrate risk-averse behaviors due to their financial restrictions. Thus, student loan debt creates inequity in the early-career labor market for college graduates. Furthermore, this study has implications for policymakers and researchers in terms of the student loan policy.

Keywords: student loan, wage differential, unintended consequences, mahalanobis distance matching

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Authors: Jacques Barnard, Magda Huisman, Gunther R. Drevin

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Rapid expansion and development in die mobile technology market has created an opportunity for users to participate in location based games. As a consequence of this fast expanding market and new technology, it is important to be aware of the implications this has on security. This paper measures the impact on the security awareness of games’ participants, as well as on that of students at university level with regards to their various stages of input in years of studying and gamer classification. This serves to provide insight into the matter as to discernible differences in the awareness of the security implications concerning these technologies. The data was accumulated via a web questionnaire that was to be completed yearly by students from respective year groups. Results signify a meaningful disparity in security awareness among students completing the varying study years and research. This awareness, however, does not always impact on gamers.

Keywords: gamer classifications, location based games, location based data, security awareness

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Authors: Daurenbek Kuleimenov, Elmira Otar

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Market institutions extension within transit societies contributes to constituting the new type of middle class and households livelihood strategies. The middle class households as an example of prosperity in many cases encourage the ordinary ones to do the same economic actions. Therefore, practices of using market institutions by middle class households in transit societies, which are mostly characterized by huge influence of traditional attitudes, can carry habitual features for the whole society. Market institutions consumption habit of the middle class households makes them trendsetters of economic habits of other households while adapting to the market economy. Moreover different social-economic positions of households lead them to different consuming results such as worsening or improving household economy due to indebtedness.

Keywords: middle class, households, market institutions, transition

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Authors: Panagiota Koliousi, Natasha Miaouli

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We compare product and labour market liberalization under the two trade union bargaining models: the Right-to-Manage (RTM) model and the Efficient Bargaining (EB) model. The vehicle is a dynamic general equilibrium (DGE) model that incorporates two types of agents (capitalists and workers), imperfectly competitive product and labour markets. The model is solved numerically employing common parameter values and data from the euro area. A key message is that product market deregulation is favourable under any labour market structure while opting for labour market deregulation one should provide special attention to the structure of the labour market such as the bargaining system of unions. If the prevailing way of bargaining is the RTM model then restructuring both markets is beneficial for all agents.

Keywords: market structure, structural reforms, trade unions, unemployment

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Authors: Kunto Wibowo Agung Prodjonoto

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Occasionally, opportunities occur not due to chances but threats. This, however, is often not realized because a greater threat is perceived to be anything that threatens, endangers, or harms, resulting in bad impacts that are also part of the risk and consequence. As a result, more focus tends to direct towards the bad impacts. Risk, in this case, shall be seen rather as something challenging, which can turn to be an opportunity to tackle an obstacle. Therefore, it does not seem exaggerating if later, risk can be considered as a challenge that presents an opportunity. So as in the context of the threat of natural disasters which gives an idea that opportunities exist. Nature referred to in a fashion as 'natural disasters' captured an expression to picture the 'threats' aspect, which instructively implying a chance of opportunity. This is quite logical, as SWOT (strengths, weaknesses, opportunities, threats) analysis can evaluate the situation at hand related to the analysis of various factors in formulating strategies to deal with natural disaster situations. The analytical method created by Albert Humphrey is indeed not an analytical tool to provide solutions, but certainly 'opportunities and challenges' are discussed therein on a vertical line, where opportunities are posited on the positive axis, and threats are posed on the negative axis. Observing this dynamism, the challenges and threats of disasters are having opportunity relevance to moralizing opportunities, that by quality poses universalism populist characteristics, universalism characteristics, and regional characteristics. Here, universalism appears as an opportunity domain underneath the threats and challenges of natural disasters.

Keywords: universality, opportunities, threats, challenges of natural disasters

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Authors: Iin Mayasari

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This study aims at exploring the influence of aspects of entrepreneurial marketing on a firm’s performance. Entrepreneurs are not only supported by resources control to obtain sustainable competitive advantage, but it should also be supported by intangible resources. Entrepreneurial marketing provides the opportunity for entrepreneurs to proactively find better ways to create value for desired customers, to create innovation, and to build customer equity. Entrepreneurial marketing has the medium between entrepreneurship and marketing, and serves as an umbrella for many of the emergent perspectives on marketing. It has eight underlying dimensions. They are proactiveness, calculated risk-taking, innovativeness, an opportunity focus, entrepreneurial orientation, resource leveraging, customer intensity, and value creating. The research method of the study was a qualitative study by having an interview with 8 small companies in Kudus Region, the Central Java, Indonesia. The interviewees were the owner and the manager of the company that had the scope work of small business enterprise in wood crafting industry. The interview was related to the implementation of the elements of the entrepreneurial marketing. The result showed that the small business enterprises had implemented the elements of entrepreneurial marketing in supporting their daily activities. The understanding based on the theoretical implementation was well executed by the owner and managers. The problems in managing small business enterprises were related to the full support by the government and the branding management. Furthermore, the innovation process should be improved especially the use of internet to promote the product, to expand the market and to increase the firm’s performance.

Keywords: entrepreneurial marketing, innovativeness, risk taking, opportunity focus

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Authors: Azaz Zaman, Mirazur Rahman

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Capital market is a crucial financial market place where companies and the government can raise long-term funds and, at the same time, investors get the opportunity to invest in the listed companies. Capital markets play a vital role not only in shifting the funds from surplus entity to deficit for investment, but also in the overall economic development of any developing country like Bangladesh. Being the first and biggest capital market of Bangladesh, Dhaka Stock Exchange (DSE) is the prime bourse of the country. The differences in the investment preference— among three broad categories of investors in DSE including individual investors, institutional investors, and government— are easily observed. Authors of this article have used five categories of investors such as sponsors or directors of the company, institutional investors, foreign investors, government, and the general public in order to present a comparative analysis of their investment patterns. Obtaining data on the percentage of investment by these five types of investors in different sectors from the DSE website, this study aims to analyze the sector-wise investment preference of these investors using August 2018 data. The study has found that the sponsors or directors of the company have the highest percentage of investment in the textile industry which is close to 16%. The Bangladesh government, as an investor, has the highest percentage of investment in the fuel & power sector, approximately 32%. It has also found that the mutual funds' sector is mostly financed by institutional investors, nearly 28%. Foreign investors have their most investments in the banking sector, which is close to 22%. It has also revealed that the textile sector is mostly financed by the general public, close to 17%. Nevertheless, general public, surprisingly, has the lowest percentage of investment in the telecommunication sector, which is 0.10%.

Keywords: stock market investment, Dhaka stock exchange, capital market, Bangladesh

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Authors: Lavdosh Lazemetaj

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The labor market in W.B. Countries presents problems and challenges, this is dictated by different risk factors. The levels of unemployment in the region are high and the rates of its reduction are a challenge. This paper presents these challenges and problems that the countries face. of the BP region. The region as a whole and the countries in their particularity are analyzed, according to the specifics, the development trends related to the labor market are looked at. Conclusions are also given that emerge from the analysis of the labor markets prior to the monitoring done by the EU and the World Bank.

Keywords: Economic Development, European Union, Economic Growth, Labor Market

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Authors: M. Khoshab, M. J. Sedigh

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Dynamic systems, which in mathematical point of view are those governed by differential equations, are much more difficult to study and to predict their behavior in comparison with static systems which are governed by algebraic equations. Economical systems such as market are among complicated dynamic systems. This paper tries to adopt a very simple mathematical model for market and to study effect of supply and demand function on behavior of the market while the supply side experiences a lag due to production restrictions.

Keywords: dynamic system, lag on supply demand, market stability, supply demand model

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Authors: Muyatdinova Aigul, Aitkaliyeva Madina

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The article deals with the evaluation of the quality of medical services on the basis of quality indicators. For this purpose allocated initially the features of the medical services market. The Features of the market directly affect on the evaluation process that takes a multi-level and multi-stakeholder nature. Unlike ordinary goods market assessment of medical services does not only market. Such an assessment is complemented by continuous internal and external evaluation, including experts and accrediting bodies. In the article highlighted the composition of indicators for a comprehensive evaluation

Keywords: health care market, quality of health services, indicators of care quality

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Authors: Hiroki Yoshikai, Shin’ichi Arakawa, Tetsuya Takine, Masayuki Murata

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API (Application Programming Interface) economy is expected to create new value by converting corporate services such as information processing and data provision into APIs and using these APIs to connect services. Understanding the dynamics of a market of API economy under the strategies of participants is crucial to fully maximize the values of the API economy. To capture the behavior of a market in which the number of participants changes over time, we present a time-evolving market model for a platform in which API providers who provide APIs to service providers participate in addition to service providers and consumers. Then, we use the market model to clarify the role API providers play in expanding market participants and forming ecosystems. The results show that the platform with API providers increased the number of market participants by 67% and decreased the cost to develop services by 25% compared to the platform without API providers. Furthermore, during the expansion phase of the market, it is found that the profits of participants are mostly the same when 70% of the revenue from consumers is distributed to service providers and API providers. It is also found that when the market is mature, the profits of the service provider and API provider will decrease significantly due to their competition, and the profit of the platform increases.

Keywords: API economy, ecosystem, platform, API providers

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Authors: Atiwat Khatpibunchai, Taweesak Kritjaroen

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A social enterprise is the innovative hybrid organizations where its ultimate goal is to generate revenue and use it as a fund to solve the social and environmental problem. Although the evidence shows the clear value of economic, social and environmental aspects, the limitations of most of the social enterprises are the expanding impact of social and environmental aspects through the normal market mechanism. This is because the major sources of revenues of social enterprises derive from the business advocates who merely wish to support society and environment by using products and services of social enterprises rather than expect the satisfaction and the distinctive advantage of products and services. Thus, social enterprises cannot reach the achievement as other businesses do. The relevant concepts from the literature review revealed that dynamic capability is the ability to sense, integrate and reconfigure internal resources and utilize external resources to adapt to changing environments, create innovation and achieve competitive advantage. The objective of this research is to study the influence of dynamic capability that affects competitive advantage and sustainable performance, as well as to determine important elements of dynamic capability. The researchers developed a conceptual model from the related concepts and theories of dynamic capability. A conceptual model will support and show the influence of dynamic capability on competitive advantage and sustainable performance of social enterprises. The 230 organizations in South-East Asia served as participants in this study. The results of the study were analyzed by the structural equation model (SEM) and it was indicated that research model is consistent with empirical research. The results also demonstrated that dynamic capability has a direct and indirect influence on competitive advantage and sustainable performance. Moreover, it can be summarized that dynamic capability consists of the five elements: 1) the ability to sense an opportunity; 2) the ability to seize an opportunity; 3) the ability to integrate resources; 4) the ability to absorb resources; 5) the ability to create innovation. The study recommends that related sectors can use this study as a guideline to support and promote social enterprises. The focus should be pointed to the important elements of dynamic capability that are the development of the ability to transform existing resources in the organization and the ability to seize opportunity from changing market.

Keywords: dynamic capability, social enterprise, sustainable competitive advantage, sustainable performance

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Authors: Panupong Chanplin, Wilailuk Mepracha, Sathapath Kilaso

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The aims of this research were twofold: 1) to logo design of Huay Kon Border Market, Chaloemphrakiat District, Nan Province and 2) to study the level of tourist satisfaction towards logo design of Huay Kon Border Market, Chaloemphrakiat District, Nan Province. Tourist satisfaction was measured using four criteria: a unique product identity, ease of remembrance, product utility, and beauty/impressiveness. The researcher utilized a probability sampling method via simple random sampling. The sample consisted of 30 tourists in the Huay Kon Border Market. Statistics utilized for data analysis were percentage, mean, and standard deviation. The results suggest that tourist had high levels of satisfaction towards all four criteria of the logo design that was designed to target them. This study proposes that specifically logo designed of Huay Kon Border Market could also be implemented with other real media already available on the market.

Keywords: satisfaction, logo, design, Huay Kon border market

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Authors: Ketevan Goletiani

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MMultimodal transport is Europe-Asia’s rational decision of the XXI century. Success prerequisite of this form of cargo carriage is not technologic decision, but the comprehensive attitude towards it. Integration of the transport industry must refer to both technical and organizational-economic fields. Support of the multimodal’s must be the priority of the transport policy in different organizations of Europe and Asia. The method of approach to the transport as a unified system has been changed to a certain extent in the market conditions. Nowadays the competition between the different kinds of transport is not to be considered as a competition of one kind of transport towards another one, but is to be considered as a stimulator of the transport development. Basically, transport logistic, as the recent methodology and organization of the rationally flow of cargos at the specialized logistic centres during their procession provides effective rise of such flow of cargos, decreases non-operating expenses and gives the opportunity to the transport companies to come along with the time, to meet market clients’ requirements. It is apparent that the advanced transport-forwarding and logistic firms are being analized.

Keywords: transport systems, multimodal transport, competition, transport logistics

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Authors: Stacie Nelson Colling, Adele Cummings

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The United States Supreme Court recently announced that it is unconstitutional to sentence a child to life without parole for non-homicide offenses, and that each child so situated must be afforded a meaningful opportunity for release from prison in his lifetime. The Court also declared that it is unconstitutional to impose a mandatory sentence of life without parole on a child for homicide offenses. Across the United States, attorneys and advocates continue to litigate issues surrounding the implementation of these legal principles. Some states have held that any sentence to a finite term of years, no matter how long, is not the same as ‘life’ and therefore does not violate the constitution. Other states have held that a sentence to a term of years that is less than the expected life of that particular child is not unconstitutional. In Colorado, the courts have routinely looked to life expectancy estimates from governmental organizations to determine how long a particular child is expected to live. They then compare that the date that the child is expected to be eligible for parole, and if the child is expected to still be living when he is eligible for parole, the sentence is deemed constitutional. This paper argues that it is inappropriate, reckless, unconstitutional and not scientifically sound to use such estimates in determining whether a child will have a meaningful opportunity for release from prison and life outside of prison before he dies. This paper argues that the opportunity for release must mean more than a probability that a child will be released before his death, and that it must include an opportunity for a meaningful life outside of prison (not just the opportunity to be released and then die on the outside). The paper further argues that life expectancy estimates cannot guide a court or a legislature in determining whether a sentence is or is not constitutional.

Keywords: life without parole, life expectancy, juvenile sentencing, meaningful opportunity for release from prison

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Authors: Jose Gonzalez, Fai Cheng, Ivy Fan

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Shipping has a mature and ever expanding worldwide market. The future of the marine industry itself is not only irrevocably linked with the global economic, social, and political landscape; it is also subject to the technological developments in different fields. Some of them may have never been linked to the marine industry before. Companies in the marine sector are getting more dependent on technologies to achieve competitive advantage in an increasing open market. Technologies can be fused across different business functions and geopolitical influences. A successful marine business should be prepared to embrace such potential changes that lie ahead. The present paper intends to articulate long-term marine technology strategies from an industrial perspective. Methodology and current development are introduced. The paper will also provide insight into future technological trends demand for major commercial ship types. It may also assist different stakeholders in tailoring their long-term strategies to achieve a Sea Change and to uncap opportunity.

Keywords: commercial sector, marine, trends, technology

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Authors: Temitope Faloye

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The absence of equity and transparency in Nigeria's economic system has resulted in unemployment. Women’s unemployment rate remains higher because women's range of jobs is often narrower due to discriminatory attitudes of employers and gender segregation in the labor market. Gender inequality is one of the strong factors of unemployment, especially in developing countries like Nigeria, where the female gender is marginalized in the labor force market. However, gender equality in terms of labor market access and employment condition has not yet been attained. Feminist theory is considered as an appropriate theory for this study. The study will use a mixed-method design, collecting qualitative and quantitative data to provide answers to the research questions. Therefore, the research study aims to investigate the present situation of gender inequality in the Nigerian labor market.

Keywords: unemployment, gender inequality, gender equality, labor market, female graduate

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Authors: Mohsin Sadaqat, Hilal Anwar Butt

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Following the stock selection guidelines provided by the Sharia Board (SB), we segregate the firms listed at Pakistan Stock Exchange (PSX) into Sharia Compliant (SC) and Non-Sharia Compliant (NSC) stocks. Subsequently, we form portfolios within each group based on market capitalization and volatility. The purpose is to analyze and compare the performance of these two groups as the SC stocks have lesser diversification opportunities due to SB restrictions. Using data ranging from January 2004 until June 2016, our results indicate that in most of the cases the risk-adjusted returns (alphas) for the returns differential between SC and NCS firms are positive. In addition, the SC firms in comparison to their counterparts in PSX provides excess returns that are hedged against the market, size, and value-based systematic risks factors. Overall, these results reconcile with one prevailing notion that the SC stocks that have lower financial leverage and higher investment in real assets are lesser exposed to market-based risks. Further, the SC firms that are more capitalized and less volatile, perform better than lower capitalized and higher volatile SC and NSC firms. To sum up our results, we do not find any substantial evidence for opportunity loss due to limited diversification opportunities in case of SC firms. To optimally utilize scarce resources, investors should consider SC firms as a candidate in portfolio construction.

Keywords: diversification, performance, sharia compliant stocks, risk adjusted returns

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Authors: J. Gochermann

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German energy market is under historical change. Turning-off the nuclear power plants and intensive subsidization of the renewable energies causes a paradigm change from big central energy production and distribution to more local structures, bringing the energy production near to the consumption. The formerly big energy market with only a few big energy plants and grid operating companies is changing into a disperse market with growing numbers of small and medium size companies (SME) generating new value-added products and services. This change in then energy market, in Germany called the “Energiewende”, inverts also the previous innovation system. Big power plants and large grids required also big operating companies. Innovations in the energy market focused mainly on big projects and complex energy technologies. Innovation in the new energy market structure is much more dispersed. Increasing number of SME is now able to develop energy production and storage technologies, smart technologies to control the grids, and numerous new energy related services. Innovation is now regional distributed, which is a remarkable problem for the old big energy companies. The paper will explain the change in the German energy market and the paradigm change as well as the consequences for the innovation structure in the German energy market. It will show examples how SME participate from this change and how innovation systems, as well for the big companies and for SME, can be adapted.

Keywords: changing energy markets, disperse innovation, new value-added products and services, SME

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Authors: Rosdyana Mangir Irawan Kusuma, Wei-Chun Kao, Ho-Thi Trang, Yu-Yen Ou, Kai-Lung Hua

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Stock market prediction is still a challenging problem because there are many factors that affect the stock market price such as company news and performance, industry performance, investor sentiment, social media sentiment, and economic factors. This work explores the predictability in the stock market using deep convolutional network and candlestick charts. The outcome is utilized to design a decision support framework that can be used by traders to provide suggested indications of future stock price direction. We perform this work using various types of neural networks like convolutional neural network, residual network and visual geometry group network. From stock market historical data, we converted it to candlestick charts. Finally, these candlestick charts will be feed as input for training a convolutional neural network model. This convolutional neural network model will help us to analyze the patterns inside the candlestick chart and predict the future movements of the stock market. The effectiveness of our method is evaluated in stock market prediction with promising results; 92.2% and 92.1 % accuracy for Taiwan and Indonesian stock market dataset respectively.

Keywords: candlestick chart, deep learning, neural network, stock market prediction

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Authors: Benjamin Blat Belmonte, Stephan Rinderknecht

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The transition to electric vehicles (EVs) stands at the forefront of innovative strategies designed to address environmental concerns and reduce fossil fuel dependency. As the number of EVs on the roads increases, so too does the potential for their integration into energy markets. This research dives deep into the transformative possibilities of using electric vehicle fleets, specifically electric bus fleets, not just as consumers but as active participants in the energy market. This paper investigates the feasibility and grid effects of electric vehicle fleet operators in the energy market. Our objective centers around a comprehensive exploration of the sector coupling domain, with an emphasis on the economic potential in both electricity and balancing markets. Methodologically, our approach combines data mining techniques with thorough pre-processing, pulling from a rich repository of electricity and balancing market data. Our findings are grounded in the actual operational realities of the bus fleet operator in Darmstadt, Germany. We employ a Mixed Integer Linear Programming (MILP) approach, with the bulk of the computations being processed on the High-Performance Computing (HPC) platform ‘Lichtenbergcluster’. Our findings underscore the compelling economic potential of EV fleets in the energy market. With electric buses becoming more prevalent, the considerable size of these fleets, paired with their substantial battery capacity, opens up new horizons for energy market participation. Notably, our research reveals that economic viability is not the sole advantage. Participating actively in the energy market also translates into pronounced positive effects on grid stabilization. Essentially, EV fleet operators can serve a dual purpose: facilitating transport while simultaneously playing an instrumental role in enhancing grid reliability and resilience. This research highlights the symbiotic relationship between the growth of EV fleets and the stabilization of the energy grid. Such systems could lead to both commercial and ecological advantages, reinforcing the value of electric bus fleets in the broader landscape of sustainable energy solutions. In conclusion, the electrification of transport offers more than just a means to reduce local greenhouse gas emissions. By positioning electric vehicle fleet operators as active participants in the energy market, there lies a powerful opportunity to drive forward the energy transition. This study serves as a testament to the synergistic potential of EV fleets in bolstering both economic viability and grid stabilization, signaling a promising trajectory for future sector coupling endeavors.

Keywords: electric vehicle fleet, sector coupling, optimization, electricity market, balancing market

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Authors: Irina Bondarenko, Olga Vandina

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The theory of evolutionary economics is the basis for preparation and application of methods forming the stock market infrastructure development concept. The authors believe that the basis for the process of formation and development of the stock market model infrastructure in Russia is the theory of large systems. This theory considers the financial market infrastructure as a whole on the basis of macroeconomic approach with the further definition of its aims and objectives. Evaluation of the prospects for interaction of securities market institutions will enable identifying the problems associated with the development of this system. The interaction of elements of the stock market infrastructure allows to reduce the costs and time of transactions, thereby freeing up resources of market participants for more efficient operation. Thus, methodology of the transaction analysis allows to determine the financial infrastructure as a set of specialized institutions that form a modern quasi-stable system. The financial infrastructure, based on international standards, should include trading systems, regulatory and supervisory bodies, rating agencies, settlement, clearing and depository organizations. Distribution of financial assets, reducing the magnitude of transaction costs, increased transparency of the market are promising tasks in the solution for questions of services level and quality increase provided by institutions of the securities market financial infrastructure. In order to improve the efficiency of the regulatory system, it is necessary to provide "standards" for all market participants. The development of a clear regulation for the barrier to the stock market entry and exit, provision of conditions for the development and implementation of new laws regulating the activities of participants in the securities market, as well as formulation of proposals aimed at minimizing risks and costs, will enable the achievement of positive results. The latter will be manifested in increasing the level of market participant security and, accordingly, the attractiveness of this market for investors and issuers.

Keywords: institutional infrastructure, financial assets, regulatory system, stock market, transparency of the market

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Authors: Sebastiana Viphindratin, Silvi Asna

Abstract:

The under ground economy phenomenon is exist in Indonesia. There are some factors which affect the existence this underground economy activity. One of them is a hierarchy power structure that handles the underground economy existence. The example of the existence of underground economy is the occurring informal market in Indonesia. Malang city is one of the city which has this kind of market. Junk night market (JNM) as an underground economy activity is arising in that city. The JNM is located in Gatot Subroto Sidewalk Street. The JNM is a illegal market which sell thrift, antique, imitation and black market goods. The JNM is interesting topic to be discussed, because this market is running in long time without any policy from local government. The JNM activity has their own “power” that run the market rules. Thus, it is important to analyze how the existence and power structure of JNM actors community are in Malang city. This research using qualitative method with phenomenological approach where we try to understand the phenomenon and related actors deeply. The aim of this research is to know the existence and power structure of JNM actors community in Malang. In JNM, there is no any entry barriers and tax charge from Malang government itself. Price competition also occurs because the buyer can do a bargain with the seller. In maintaining buyer loyalty, the JNM actors also do pre-order system. Even though, this market is an illegal market but the JNM actors also give the goods guarantee (without legal contract) as a formal market. In JNM actor’s community, there is no hierarchy and formal power structure. The role in JNM is managed by informal leaders who come up from the trading activity problems that are sidewalk and parking area dividing. Therefore, can be concluded that even the JNM is illegal market but it can survive with natural market pattern. In JNM development, JNM has positive and negative impact for Malang city. The positive impact of JNM is this market can open a new employment but the negative impact is there is no tax income from that market. Therefore, suggested that the government of Malang city should manage and give appropriate policies in this case.

Keywords: junk night market (JNM), Malang city, underground economy, illegal

Procedia PDF Downloads 388

Authors: Nadia Sghaier

Abstract:

In this paper, we examine the influence of the COVID-19 pandemic on the performance of the Tunisian stock market and 12 sectors over a recent period from 23 March 2020 to 18 August 2021, including several waves and the introduction of vaccination. The empirical study is conducted using cointegration techniques which allows for long and short-run relationships. The obtained results indicate that both daily growth in confirmed cases and deaths have a negative and significant effect on the stock market returns. In particular, this effect differs across sectors. It seems more pronounced in financial, consumer goods and industrials sectors. These findings have important implications for investors to predict the behavior of the stock market or sectors returns and to implement hedging strategies during the COVID-19 pandemic.

Keywords: Tunisian stock market, sectors, COVID-19 pandemic, cointegration techniques

Procedia PDF Downloads 179