Search results for: street markets

Authors: Zain Ul Abideen

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The study examines the potentially dark and bright parts of behavioral biases in investors’ investment decisions in the Pakistani equity market. These biases, directly and indirectly, play a comprehensive role in controlling and deciding the investor’s investment decisions. Stock market anomalies are used as a mediator, while financial literacy is used as a moderator to check the mentioned relationship. The sample consisted of investors who have trading experience of more than two years in the stock market. The result indicates that calendar anomalies do not mediate between overconfidence bias and investment decisions. However, the study investigates the mediating role of fundamental and technical anomalies between overconfidence bias and investment decisions. Furthermore, calendar anomalies play a significant role between the disposition effect and investment decisions. Calendar anomalies also mediate between herding bias and investment decisions. Financial literacy significantly moderates between behavioral biases and stock market anomalies. This research would be beneficial for individual and professional investors in their investment decisions. They should be financially literate, consequently less biased and have no market anomalies. Investors in emerging and developed economies can make optimal decisions in their respective stock markets.

Keywords: behavioral biases, financial literacy, stock market anomalies, investment decision

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Authors: Jie Zhang, Chaomin Zhang, Jihua Zhang, Haitong Li

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Using the theory of optimal distinctiveness, this study examines the effects of conformity and differentiation within corporate social responsibility (CSR) practices on capital market performance. Analysing data from Chinese A-share listed firms from 2007 to 2022, this paper demonstrates that when firms conform to the expected scope of CSR, such behaviour enhances investor attention and market acceptance, thereby boosting stock liquidity. Conversely, emphasising differentiation in CSR practices more effectively mitigates stock price crash risk by addressing principal–agent problems and decreasing information asymmetry. This paper also investigates how organisational and environmental factors moderate the relationship between conformity and differentiation in CSR practices and their impact on capital market performance. The results also show that the influence of conformity on stock liquidity is accentuated in smaller firms and environments with stringent legal oversight. By contrast, the benefits of differentiation in reducing stock price crash risk are amplified in firms with robust corporate governance and markets characterised by high uncertainty.

Keywords: corporate social responsibility, social responsibility practices, capital market performance, optimal distinctiveness

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Authors: Ozioma Beauty Nwaodu, Adebowale E Salako, Omolara Mabel Akinyemi, Nkechi Uche, Isuama Isu, Uchechi Jane Elechi

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Goats form an integral part of livestock production in the tropics. Meat potential is determined subjectively by resource poor livestock keepers, using hand to measure the rump width (RW). Objective evaluation of meat potential in different breads of goats can overcome problems associated with subjective evaluation. Hence, the objectives were to predict meatiness in Red Sokoto (RS), Sahel and the West African Dwarf (WAD) goats, using product of the body length (BL), wither height (WH) and (RW) and to indicate the inherent size of each breed, using WH: BL ratio. These three parameters were used because they are less environmentally sensitive. A total of 2849 goats were sampled purposefully from the Akinyele and Oranyan markets in Ibadan, Oyo State Nigeria. RS showed no significant difference for BL and WH but different from the RW of both sexes (p < 0.01). Similarly WAD showed no significant difference for the BL and WH, but differed (p < 0.01) between sexes for RW. Using the ANOVA, BL:WH ratio showed no significant difference between the breeds. WAD goats have the highest mean for BL:WH ratio. Western meat livestock is primarily identified using BL:WH. The combinations of these body parameters as indicator for meat type in meat animals showed that WAD goat has more potential to lay down meat, than RS and Sahel.

Keywords: quantitative, morphologial traits, descriptive analysis, goats

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Authors: Yanping He-Ulbricht, Marc Oliver Rieger

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Based on survey data collected from people with Chinese roots living in Germany, this paper examines the impact of assimilation degree and language priming (Chinese or German) on individuals’ perceived fairness of economic and social differences and their attitude towards these. The results show that both the language used and the length of time spent in a foreign culture have a significant impact. Subjects who had spent less than 10 years in Germany demonstrated a higher readiness to accept government intervention in markets with price limits than those who had lived there longer. Subjects who were asked and answered in German perceived the current economic situation as less fair and were also less inclined to accept inequality, even when it leads to a Pareto improvement. While the difference in fairness perception of inequality was a cultural effect, the difference in attitudes towards government intervention was rather a result of learning process. The findings imply that both learning processes of individuals and culture play an important role in perception and preferences regarding social and economic differences.

Keywords: assimilation, bilingualism, cross-cultural comparison, income inequality, language priming, price fairness

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Authors: Nadia Adnan, Muhammad Mohsin Raza, Latha Ravindran

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Based on the principles above, the study presents an economic model of food waste for consumers, intermediaries, and producers. We discriminate between purchasing and selling, purchases versus customers consumption, and gross output versus sales for each intermediary. To compensate for waste at each level of the supply chain, agents must charge higher sales prices. The research model can produce more accurate predictions about how actions (public regulations or private efforts) to reduce food waste impact markets, including indirect (cascading) effects. With a formal model, researchers demonstrate the uniqueness of these interaction effects and simulate an empirical model calibrated to market characteristics and waste rates in Saudi Arabia. Researchers demonstrate that the effects of waste reduction differ per commodity, depending on supply and demand elasticities, degree of openness to international commerce, and the beginning rates of food loss and waste at each level of the value chain. Because of the consequential effects related to the supply chain, initiatives to minimize food waste will be strengthened in some circumstances and partially countered in others.

Keywords: food loss, food waste, supply chain management, Saudi Arabia, food supply

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Authors: Tara Panday, Despina Learmonth

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Sex work is often constructed as being an interaction between male clients and female sex workers. As a result, street-based male sex workers are continuously overlooked in the South African literature. This qualitative study explored male sex workers’ subjective experiences and constructions of their male clients’ identities and the client-sex worker relationship. This research was conducted from a social-constructionist perspective, which allowed for a deeper understanding of the reasons and context driving the choices and actions of male sex workers. Semi-structured face-to-face interviews were conducted with 10 South African men working as sex workers in Cape Town. Data was analysed through thematic analysis. The findings of the study construct the client-sex worker relationship in terms of a professional relationship, constrained choice, sexual identity and need, as well as companionship for pay, potentially highlighting underlying reasons for supply and demand. The data which emerged around the client-sex worker relationship and the clients’ identities also served to illuminate the power-dynamics in the client-sex worker relationship. This data increases insight into the exploitation and disempowerment experienced by male sex workers through verbal abuse, physical and sexual violence, and unfairly enforced laws and regulations. The findings of this study suggest that, in the context of South Africa, male sex workers' experiences of the client-sex worker relationship cannot be completely understood without considering the intersectionality of the triple stigmatisation of: the criminality of sex work, race, and the lack of economic power, which systematically maintains marginalization. Motivating for the Law Reform Commission to continue to review all emerging research may assist with guiding related policy and thereby, the provision of equal human rights and adequate health and social interventions for all sex workers in South Africa.

Keywords: human rights, prostitution, power relations, sex work

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Authors: Albena Ivanova, Jill Kurp, Austin Hampe

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Cereal products in the US contain rich information on the front of the package (FOP) as well as point-of-purchase (POP) summaries provided by the store. These summaries frequently are confusing and misleading to the consumer. This study explores the relationship between perceived quality, objective quality, price, and value in the cold cereal industry. A total of 270 cold cereal products were analyzed and the price, quality and value for different summaries were compared using ANOVA tests. The results provide evidence that the United States Department of Agriculture Organic FOP/POP are related to higher objective quality, higher price, but not to a higher value. Whole grain FOP/POP related to a higher objective quality, lower or similar price, and higher value. Heart-healthy POP related to higher objective quality, similar price, and higher value. Gluten-free FOP/POP related to lower objective quality, higher price, and lower value. Kid's cereals were of lower objective quality, same price, and lower value compared to family and adult markets. The findings point to a disturbing tendency of companies to continue to produce lower quality products for the kids’ market, pricing them the same as high-quality products. The paper outlines strategies that marketers and policymakers can utilize to contribute to the increased objective quality and value of breakfast cereal products in the United States.

Keywords: cereals, certifications, front-of-package claims, consumer health.

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Authors: Awdhesh Yadav, P. S. Saravanamurthy, Shaikh Tayyaba, Uma Shah, Ashok Agarwal

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Objectives: HIV interventions in India has leveraged Self-Help Group (SHG) as one of the key strategies under structural intervention to empower female sex workers (FSW) to reduce their risk exposure and vulnerability to STI/HIV. Understanding the role of SHGs in light of the evolving dynamics of sex work needs to be delved into to strategize HIV interventions among FSWs in India. This paper aims to study the HIV program outcome among the FSWs associated with SHGs and FSWs not associated with SHGs in Thane, Maharashtra. Study Design: This cross-sectional study, was undertaken from the Behavioral Tracking Survey (BTS) conducted among 503 FSWs in Thane in 2015. Two-stage probability based conventional sampling was done for selection of brothel and bar based FSWs, while Time Location Cluster (TLC) sampling was done for home, lodge and street-based sex workers. Methods: Bivariate and multivariate logistic regression were performed to compare and contrast between FSWs associated with SHG and those not associated with SHG with respect to the utilization of HIV related services by them. ‘Condom use’, ‘consistent condom use’, ‘contact with peer-educators’, ‘counseling sessions’ and ‘HIV testing’ were chosen as indicators on HIV service utilization. Results: 8% (38) of FSWs are registered with SHG; 92% aged ≥ 25 years, 47% illiterate, and 71% are currently married. The likelihood of utilizing HIV services including, knowledge on HIV/AIDS and its mode of transmission (OR:5.54; CI: 1.87-16.60; p < 0.05),accessed drop-in Centre (OR: 6.53; CI: 2.15-19.88; p < 0.10), heard about joint health camps (OR: 4.71; CI:2.12-10.46); p < 0.05), negotiated or stood up against police/broker/local goonda/clients (OR: 2.26; CI: 1.08-4.73; p < 0.05), turned away clients when they refused to use condom during sex (OR: 3.76; CI: 1.27-11.15; p < 0.05) and heard of ART (OR; 4.55; CI: 2.18-9.48; p < 0.01) were higher among FSWs associated with SHG in comparison to FSWs not associated with SHG. Conclusions: Considering the improved HIV program outcomes among FSWs associated with SHG; HIV interventions among FSWs could consider facilitating the formation of SHGs with FSWs as one of the key strategies to empower the community for ensuring better program outcomes.

Keywords: empowerment, female sex workers, HIV, Thane, self-help group

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Authors: Davood Karimipour

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Since long ago, Russia has been one of the most influential actors in regional equations in South West Asia. The geographic affinity of its vital interests with Western Asia has caused Moscow to have a high sensitivity to the balance of power in the Middle East, as its role in the Syrian crisis clearly demonstrated the importance. In recent years, Moscow has tried to use the energy diplomacy tool in maintaining the balance of power between the major powers in the region. The paper, based on the qualitative case study method, investigates how Russia’s energy diplomacy plays a role in the balance of regional forces in the Middle East, studying the country’s conduct towards Iran, Saudi Arabia, Turkey, and Israel. The hypothesis presented that Russia, using energy tools, is trying to push the regional powers toward cooperation in order to increase the influence in the region, increase power in global markets, and controlling the US to restore power balance in the region. Its cooperation in the Iranian gas industry, the country’s relations with Saudis in the framework of OPEC, cooperation with the Turkish Kurds and the presence in the Israeli gas industry are an example of these Russian energy diplomacy initiatives in West Asia, which is the common point of the Moscow approach to South West Asia.

Keywords: Russia, balance of power, energy diplomacy, Middle East

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Authors: Sebastiana Viphindratin, Silvi Asna

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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

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Authors: Rafiu Babatunde Ibrahim, Richard Oluseyi Taiwo, Abiodun Toheeb Akintunde

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The relationship between road transport infrastructure and commercial activities in Nigeria has been a topical issue and identified as one of the crucial components for economic development in the country. This study examines road transport infrastructure and commercial activities along selected roads in Ede, Nigeria. The study assesses the characteristics of the selected roads, the condition of road infrastructure, the degree of road network connectivity, maintenance culture for the road infrastructure as well as commercial activities along identified roads in the study area. Stratified Sampling Techniques were used to partition the study area into core, Intermediate and Suburb Township zones. Roads were also classified into Major, Distributor and Access Roads. Field observation and measurement, as well as a questionnaire, were used to obtain primary data from 246 systematically sampled respondents along the roads selected, and they were analyzed using descriptive and inferential statistics. The study revealed that most of the roads were characterized by an incidence of potholes. A total of 448 potholes were observed, where Olowoibida Road accounted for (19.0%), Federal Polytechnic Road (17.4%), and Back to Land Road (16.3%). The majority of the selected roads have no street lights and are of open drainage systems. Also, the condition of road surfaces was observed to be deteriorating. Road network connectivity of the study area was found to be poorly connected with 11% using the alpha index and 40% of Gamma index. It was found that the tailoring business (39) is predominant on major roads and Distributor Roads, while petty trading (35) is dominant on the access road. Results of correlation analysis (r = 0.242) show that there is a low positive correlation between road infrastructure and commercial activities; the significant relationships have indeed explained how important it is in influencing commercial activities across the study area. The study concluded by emphasizing the need for the provision of more roads and proper maintenance of the existing ones. This will no doubt improve the commercial activities along the roads in the study area.

Keywords: road transport, infrastructure, commercial activities, maintenance culture

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Authors: Luqman Afolabi

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This paper measures the impacts of trade and institutions on environmental quality in Sub-Saharan Africa (SSA). To examine the direction and the magnitude of the effects, the study employs the pooled mean group (PMG) estimation technique on the panel data obtained from the World Bank’s World Development and Governance Indicators, between 1996 and 2018. The empirical estimates validate the environmental Kuznets curve hypothesis (EKC) for the region, even though there have been inconclusive results on the environment – growth nexus. Similarly, a positive coefficient is obtained on the impact of trade on the environment, while the impact of the institutional indicators produce mixed results. A significant policy implication is that the governments of the SSA countries pursue policies that tend to increase economic growth, so that pollutants may be reduced. Such policies may include the provision of incentives for sustainable growth-driven industries in the region. In addition, the governance infrastructures should be improved in such a way that appropriate penalties are imposed on the pollutants, while advanced technologies that have the potentials to reduce environmental degradation should be encouraged. Finally, it is imperative from these findings that the governments of the region should promote their trade relations and the competitiveness of their local industries in order to keep pace with the global markets.

Keywords: environmental quality, institutional quality sustainable development goals, trade

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Authors: Andrey Matyukhin

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Russian official statistics have been showing a steady decline in residential real estate prices for several consecutive years. Price risk in real estate markets is thus affecting various groups of economic agents, namely, individuals, construction companies and financial institutions. Potential use of property derivatives might help mitigate adverse consequences of negative price dynamics. Unless a sustainable price indicator is developed, settlement of such instruments imposes constraints on counterparties involved while imposing restrictions on real estate market development. The study addresses geographical and classification heterogeneity in real estate prices by means of variance analysis in various groups of real estate properties. In conclusion, we determine optimal sample structure of representative real estate assets with sufficient level of price homogeneity. The composite price indicator based on the sample would have a higher level of robustness and reliability and hence improving liquidity in the market for property derivatives through underlying standardization. Unlike the majority of existing real estate price indices, calculated on country-wide basis, the optimal indices for Russian market shall be constructed on the city-level.

Keywords: price homogeneity, property derivatives, real estate price index, real estate price risk

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Authors: A. Elbaz, K. Spang

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Infrastructure projects are often subjected to delays and cost overruns and mistakenly described as unsuccessful projects. These projects have many peculiarities such as public attention, impact on the environment, subjected to special regulations, etc. They also deal with several stakeholders with different motivations and face unique risks. With this in mind we need to reconsider our approach to manage them, define their success factors and implement these success factors. Infrastructure projects are not only lacking a unified meaning of project success or a definition of success factors, but also a clear method to implement these factors. This paper investigates this gap and introduces a concept to implement success factors in an efficient way, taking into consideration the specific characteristics of infrastructure projects. This concept consists of six enablers such as project organization, project team, project management workflow, contract management, communication and knowledge transfer and project documentations. These enablers allow other success factors to be efficiently implemented in projects. In conclusion, this paper provides project managers as well as company managers with a tool to define and implement success factors efficiently in their projects, along with upgrading their assets for the coming projects. This tool consists of processes and validated checklists to ensure the best use of company resources and knowledge. Due to the special features of infrastructure projects this tool will be tested in the German infrastructure market. However, it is meant to be adaptable to other markets and industries.

Keywords: infrastructure projects, operative success factors, project success, success factors, transportation projects

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Authors: M. Fernández, T. Gómez, J. Fleta

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Although firm innovation is a crucial factor for enhancing their competitive advantage in the current context of globalization, achieving innovations poses a significant challenge because of the degree of expertise required and the associated financial costs. Firms affiliated with business groups can choose whether their purchases of intermediate inputs are domestic (i.e., national source) or from foreign markets (i.e., international source) and whether the supplier firms are affiliated (i.e., internal source) or non-affiliated (i.e., external source). This has led to studies investigating the role of different sources of intermediate inputs in promoting innovation performance. The present study seeks to fill this gap by exploring the relationship between the source of intermediate inputs and innovation performance in firms belonging to Spanish non-MNE groups. For this purpose, we will distinguish among three intermediate input sources, international sourcing, domestic external sourcing, and internal sourcing, as their choice could be induced by different causes and have different consequences. Finally, it is analyzed radical and incremental innovation as innovation performance because they are closely related to the concept of technological development and reflect different innovation behavior. The paper includes a sample of around 4,100 firm-year observations of manufacturing firms (non-MNE) belonging to groups located in Spain between 2006 and 2020.

Keywords: intermediate input source, innovation performance, business group affiliated firms, Spain

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Authors: Tsietsi J. Pilusa, Tumisang G. Seodigeng

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This study evaluates the benefits of advanced waste management practices in unlocking waste-to-energy opportunities within the solid waste industry. The key drivers of sustainable waste management practices, specifically with respect to packaging waste-to-energy technology options are discussed. The success of a waste-to-energy system depends significantly on the appropriateness of available technologies, including those that are well established as well as those that are less so. There are hard and soft interventions to be considered when packaging an integrated waste treatment solution. Technology compatibility with variation in feedstock (waste) quality and quantities remains a key factor. These factors influence the technology reliability in terms of production efficiencies and product consistency, which in turn, drives the supply and demand network. Waste treatment technologies rely on the waste material as feedstock; the feedstock varies in quality and quantities depending on several factors; hence, the technology fails, as a result. It is critical to design an advanced waste treatment technology in an integrated approach to minimize the possibility of technology failure due to unpredictable feedstock quality, quantities, conversion efficiencies, and inconsistent product yield or quality. An integrated waste-to-energy approach offers a secure system design that considers sustainable waste management practices.

Keywords: emerging markets, evaluation tool, interventions, waste treatment technologies

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Authors: Abdelhamid Nechad, Ahmed Maghni, Khaoula Zahir

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Energy transition is one of Morocco's key sustainable development issues and is at the heart of the 2030 National Sustainable Development Strategy. On the one hand, it reflects the Moroccan government's determination to reduce the negative impact of energy consumption on the environment, and on the other, its determination to rely essentially on renewable energies to meet its energy needs. With this in mind, several tools are being implemented, including green bonds designed to finance projects with a high environmental or climate impact. Thus, since 2015, several green bonds have been issued for a cumulative total of $0.4 Billion . This article aims to examine the impact of green bonds on Morocco's energy transition. Through the Granger causality and cointegration test, this article examines the existence of a short- and long-term causal relationship between green bond issuance and investment in renewable energy projects on the one hand, and between green bond issuance and CO₂ emission reductions on the other. The results suggest that there is no short-term causal relationship between green bond issuance and renewable energy investments on one hand and CO₂ emissions reduction on the other hand. However, in the long run, there is a relationship between green bond issuance and CO₂ emissions reduction in Morocco.

Keywords: climate impact, CO₂ emissions, energy transition, green bonds, Morocco

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Authors: Saira Tajdar, Sajad Ahmad

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The pharmaceutical market of Pakistan showed a mixed trend since 1947. In these six decades various local and foreign pharmaceutical companies entered the market with their highly researched based formulas and brands for various diseases. It also created a very competitive market between local and foreign companies and brands. But this intense competition does not clear the picture that whether the customers (Doctors) are preferring/prescribing foreign or local brands more frequently. Previous research has been done in various markets for different brands that whether the customers in that industry prefer foreign or local brands. However, the pharmaceutical industry in this regard has been ignored by the researchers. Generally people don't know that for prescription brands of medicines what the preferences of customers (Doctors) are. Therefore, this study is conducted in two departments of Pharmaceutical industry by selecting the top recommended formulas in those departments that for those formulas whether the customers (Doctors) are prescribing either foreign brands or local brands. Secondary data has been collected from previous studies on the country of origin (COO), ethnocentrism and factors influencing brands preferences from authentic sources. Primary data was also collected through 100 self administered questionnaires from top five hospitals of Peshawar. The results of the study were analyzed through SPSS which shows that in some categories of pharmaceutical products the COO is very important but not for all.

Keywords: customer prescription, country of origin, empirical study, foreign versus local brands, pharmaceutical industry, Pakistan

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Authors: Martin Hewing, Katharina Hölzle

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Organizations increasingly use environmental stimuli and ideas from users within participatory innovation processes in order to tap new sources of knowledge. The research presented in this article focuses on users who shape the distant edges of markets and currently are not using products and services from a domain– so called potential users. Those users at the peripheries are perceived to contribute more novel information, by which they better reflect shifts in needs and behavior than current users in the core market. Their contributions in collaborative and creative problem-solving processes and how they generate ideas for discontinuous innovations are of particular interest. With an experimental design, we compare ideas from potential and current users and analyze the effects of cognitive distance in collaboration and the utilization of explicit and tacit knowledge. We find potential users to generate more original ideas, particularly when they collaborate with someone experienced within the domain. Their ideas are most obviously characterized by an increased level of surprise and unusualness compared to dominant designs, which is rooted in contexts and does not require technological leaps. Collaboration with potential users can therefore result in new ways to leverage technological competences. Furthermore, the cross-fertilization arising from cognitive distance between a potential and a current user is asymmetric due to differences in the nature of their utilized knowledge and personal objectives. This paper discusses implications for innovation research and the management of early innovation processes.

Keywords: user collaboration, co-creation, discontinuous innovation, innovation research

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Authors: Ofri Earon

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This article is about a growing focus in the city of Copenhagen – the edge zone between the private space inside the residential building and the public space out at the residential street. A slow transition between the private living room and the public urban space creates a mutual benefit. The urban space benefits from an insertion of a homey atmosphere by the extended performance of living rooms to the exterior. The dwelling benefits from belonging to a liveable neighborliness, which means an extension of the private home to a collective home (= the neighborhood). Grounded by this reciprocal value of the edge zone, through the article, it is argued that a wide generosity of the edge zones is of interest among both planners and residents. The article introduces the idea of the edge zone and its possible implications in the development of the liveable residential city. Three examples of ongoing projects at Arkitema Architects are bought to illustrate the challenges and potentials of a generous edge zone. Every example represents a specific dwelling typology in a particular urban context: (1) multi-family residential building in a previous industrial area in the city (2) new courtyard building in the city’s outskirt (3) low and dense residential area out in the suburbia. Throughout these examples, the article seeks to discuss the significance of the edge zone in forthcoming residential areas in Denmark. The analysis of the Danish examples raises the question of why a social behavior that happens spontaneously in the south of Europe has to be carefully implemented in the architecture of north of Europe. In this light, the article ends with a discussion on how to create edge zones that are not designed for a particular usage, but rather as an architectural invitation for varied social behaviors that spontaneously occur in different moments of time by different people. Finally, the article ends with a list of recommendations for the development of the generous edge zone as an open invitation for diverse usage over time.

Keywords: dwelling, edge zone, generosity, livability, urban space

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Authors: Mohammad Saber Rohi, Saghar Heidari

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In this paper, we studied the pricing problem of American options under a regime-switching model with the possibility of a non-optimal exercise policy (early or late exercise time) which is called an irrational strategy. For this, we consider a Markovmodulated model for the dynamic of the underlying asset as an alternative model to the classical Balck-Scholes-Merton model (BSM) and an intensity-based model for the irrational strategy, to provide more realistic results for American option prices under the irrational behavior in real financial markets. Applying a partial differential equation (PDE) approach, the pricing problem of American options under regime-switching models can be formulated as coupled PDEs. To solve the resulting systems of PDEs in this model, we apply a finite element method as the numerical solving procedure to the resulting variational inequality. Under some appropriate assumptions, we establish the stability of the method and compare its accuracy to some recent works to illustrate the suitability of the proposed model and the accuracy of the applied numerical method for the pricing problem of American options under the regime-switching model with irrational behaviors.

Keywords: irrational exercise strategy, rationality parameter, regime-switching model, American option, finite element method, variational inequality

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Authors: Ojinime E. Ojiakor, Allen N. Adum

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We report on bed scenes allurement as entertainment and selling point in Nigeria’s Nollywood movie industry. In recent times, there has been an increase in the portrayal of bed scenes in Nollywood movies. Before now, Nigerian film producers have been very conservative when it comes to showing sex and nudity. This appears to have changed in line with global trends. Movie industries all over the world appear a haven for delectable women who glamorize our screens, not only with their beauty but also their acting skills. At Hollywood, Bollywood, Ghollywood and the like, pretty actresses with sensuous endowments engage in bed scenes which allure the minds of viewers. The idea that, a ravishing beauty on cast is as good as a box office hit apparently drives Nigerian film producers to incorporate bed scenes in their movies. In this era of sex crusade where what sells is sex and maybe a little bit of violence, there is the suggestion that producers believe that if the talent of an actress doesn’t do the trick, the sexiness she exudes is bound to get attention. Against this backdrop, our study examined bed scenes depiction by Nollywood films, in an attempt to establish if their allurement influences the choice of movie and purchase decisions of target markets. We assessed Nollywood films and viewer preference using the mixed method approach. Our findings reveal that bed scenes, as portrayed in Nigerian movies are a significant determinant of which films to watch and which films to purchase among the respondents studied.

Keywords: allurement, bed scenes, nollywood, selling point

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Authors: Neeraj Gupta, Jitendra Mahakud

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The banking system plays a major role in the Indian economy. Banking system is the payment gateway of most of the financial transactions. Banking has gone a major transition that is still in progress. Recent banking reforms after liberalization in 1991 have led to the establishment of the foreign banks in the country. The foreign banks are not listed in the Indian stock markets and have increased the competition leading to the capture of the significant share in the revenue from the public sector banks which are still the major players in the Indian banking sector. The performance of the banking sector depends on the internal (bank specific) as well as the external (market specific and macroeconomic) factors. Profitability in banking sector is affected by numerous factors which can be internal or external. The present study examines these internal and external factors which are likely to effect the profitablilty of the Indian banks. The sample consists of a panel dataset of 64 commercial banks in India, consisting of 1088 observations over the years from 1998 to 2016. The GMM dynamic panel estimation given by Arellano and Bond has been used. The study revealed that the variables capital adequacy ratio, deposit, age, labour productivity, non-performing asset, inflation and concentration have significant effect on performance measured.

Keywords: banks in India, bank performance, bank productivity, banking management

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Authors: Prama Mukhopadhyay

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Starting from transport to food, today’s world platform economy and digital markets have taken over almost every sphere of consumers’ lives. Sellers and buyers are getting connected through platforms, which is acting as an intermediary. It has made consumer’s life easier in terms of time, price, choice and other factors. Having said that, there are several concerns regarding platforms. There are competition law concerns like unfair pricing, deep discounting by the platforms which affect the consumer welfare. Apart from that, the biggest problem is lack of transparency with respect to the business models, how it operates, price calculation, etc. In most of the cases, consumers are unaware of how their personal data are being used. In most of the cases, they are unaware of how algorithm uses their personal data to determine the price of the product or even to show the relevant products using their previous searches. Using personal or non-personal data without consumer’s consent is a huge legal concern. In addition to this, another major issue lies with the question of liability. If a dispute arises, who will be responsible? The seller or the platform? For example, if someone ordered food through a food delivery app and the food was bad, in this situation who will be liable: the restaurant or the food delivery platform? In this paper, the researcher tries to examine the legal concern related to platform economy from the consumer protection and consumer welfare perspectives. The paper analyses the cases from different jurisdictions and approach taken by the judiciaries. The author compares the existing legislation of EU, US and other Asian Countries and tries to highlight the best practices.

Keywords: competition, consumer, data, platform

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Authors: Dena Alhaloul

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The Middle East and North Africa (MENA) region is characterized by diverse cultures, economies, and social structures. Fertility rates in MENA have seen significant changes over time, with variations among countries and subregions. Understanding fertility patterns in this region is essential due to its impact on demographic dynamics, healthcare, labor markets, and social policies. Rising or declining fertility rates have far-reaching consequences for the region's socioeconomic development. The main thrust of this study is to comprehensively examine fertility rates in the Middle East and North Africa (MENA) region. It aims to understand the distribution, determinants, and temporal trends of fertility rates in MENA countries. The study seeks to provide insights into the factors influencing fertility decisions, assess how fertility rates have evolved over time, and potentially develop statistical models to characterize these trends. As for the methodology of the study, the study uses descriptive statistics to summarize and visualize fertility rate data. It also uses regression analyses to identify determinants of fertility rates as well as statistical modeling to characterize temporal trends in fertility rates. The conclusion of this study The research will contribute to a deeper understanding of fertility dynamics in the MENA region, shedding light on the distribution of fertility rates, their determinants, and historical trends.

Keywords: fertility, distribution, modeling, regression

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Authors: Mario Gómez, Won Ho Kim, Ángel Licona, José Carlos Rodríguez

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This article analyzes innovation activity in Mexico and South Korea. It develops an econometric model to test for structural breaks in the number of patent applications filed by residents and nonresidents in these countries during the period of 1965 to 2012. These changes may suggest that firms’ innovative capabilities have changed because of implementing different science, technology and innovation (STI) policies in Mexico and South Korea. Two important features characterize this research from others already developed by these authors. First, the theoretical research framework in this research is the debate between the assimilation view of growth and the accumulation view of growth. This characteristic suggests that trade liberalization should be accompanied by an adequate STI policy to boost competitiveness among indigenous firms. Second, the analysis in this research stresses the importance of key actors (e.g. governments) to successfully develop innovation capabilities among indigenous firms. Therefore, the question conducting this research is how STI policies in Mexico and South Korea contributed to develop firms’ innovation capabilities in these countries during last decades? The results from this research suggests that STI policy in South Korea was more suitable to boost innovation firms to compete in markets. Data to develop this research was released by the World Intellectual Property Organization (WIPO).

Keywords: innovation, Mexico, South Korea, science, technology and innovation policy

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Authors: Clarinda V. Nhangumbe, Ercília Sousa

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Weather Derivatives are financial instruments used to cover non-catastrophic weather events and can be expressed in the form of standard or plain vanilla products, structured or exotics products. The underlying asset, in this case, is the weather index, such as temperature, rainfall, humidity, wind, and snowfall. The complexity of the Weather Derivatives structure shows the weakness of the Black Scholes framework. Therefore, under the risk-neutral probability measure, the option price of a weather contract can be given as a unique solution of a two-dimensional partial differential equation (parabolic in one direction and hyperbolic in other directions), with an initial condition and subjected to adequate boundary conditions. To calculate the price of the option, one can use numerical methods such as the Monte Carlo simulations and implicit finite difference schemes conjugated with Semi-Lagrangian methods. This paper is proposed two explicit methods, namely, first-order upwind in the hyperbolic direction combined with Lax-Wendroff in the parabolic direction and first-order upwind in the hyperbolic direction combined with second-order upwind in the parabolic direction. One of the advantages of these methods is the fact that they take into consideration the boundary conditions obtained from the financial interpretation and deal efficiently with the different choices of the convection coefficients.

Keywords: incomplete markets, numerical methods, partial differential equations, stochastic process, weather derivatives

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Authors: Tianyu Zhang

Abstract:

China has become one of the markets with the biggest potential for UK exporters, but it remains difficult for outsiders to explore Chinese media’s inner workings due to a lack of access. Having worked in Chinese media, the author conducted six month’s participant-observation in China Central Television (CCTV) and three independent production companies. This paper mainly explores how TV production ethics were implemented in the casting process of three Chinese reality shows that are well-known within the country. The three production teams had issues in common: unorganised management, subjective casting standards and lack of production ethics. Casting directors, who were multitasking, could only rely on their professional experience and ad-hoc demands from the management. More concerning phenomena such as borderline corruption, passive-aggressiveness, and blame cultures were prevalent during the entire production, especially during casting. The casting process also often involved the celebrity status of the many ‘ordinary’ participants who were not that ‘ordinary’ as they claimed. Many of these participants were professional talents who were not famous enough but worked as many other well-known celebrities who had their own employees. On the other hand, as comprehensive production and ethics guidelines were missing, junior television practitioners struggled between their ideal professional standards and real-life events that fell into grey areas – telling white lies, bribery, shifting blame, and lack of employee training. Although facing challenges, many practitioners came up with self-management solutions and worked with positivity.

Keywords: production studies, ethics, television production, ethnography, reality TV, Chinese TV

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Authors: Laila Ozola, Evita Straumite

Abstract:

Celiac disease is a permanent enteropathy caused by the ingestion of gluten, a protein occurring in wheat, rye and barley. The only way of the effective daily treatment is a strict gluten-free diet. From the investigation of products available in the local market, it was found that Latvian producers do not offer gluten-free products. The aim of this research was to study and analyze changes of celiac patient’s attitude to gluten-free product quality and availability in the Latvian market and purchasing habits. The survey was designed using website www.visidati.lv, and a questionnaire was sent to people suffering from celiac disease. The first time the respondents were asked to fill in the questionnaire in 2011, but now repeatedly from the beginning of September 2013 till the end of January 2014. The questionnaire was performed with 75 celiac patients, respondents were from all Latvian regions and they answered 16 questions. One of the most important questions was aimed to find out consumers’ opinion about quality of gluten-free products, consumption patterns of gluten-free products, and, moreover, their interest in products made in Latvia. Respondents were asked to name gluten-free products they mainly buy and give specific purchase locations, evaluate the quality of products and necessity for products produced in Latvia. The results of questionnaire show that the consumers are satisfied with the quality of gluten-free flour, flour blends, sweets and pasta, but are not satisfied with the quality of bread and confectionery available in the Latvian markets.

Keywords: consumers, gluten-free products, quality, survey

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Authors: Felix Olajide Ibikunle

Abstract:

Introductory Statement: Sustainable participation of teenagers in sport requires deliberate and concerted plan and managerial policy rooted in the “philosophy of catch them young”. At risk, teenagers need proper integration into societal aspiration: This direction will go a long way to streamline them into the security breach and attractive nuisance free lifestyles. Basic Methodology: The population consists of children within 13-19 years old. A proportionate sampling size technique of 60% was adopted to select seven zones out of 11 geo-political zones in the Ibadan metropolis. Qualitative information and interview were used to collect needed information. Majority of the teenagers were out of school, street hawkers, motor pack, touts, and unserious vocation apprentices. These groups have the potentials of security breaches in the metropolis and beyond. Five hundred and thirty-four (534) respondents were used for the study. They were drawn from Ojoo, Akingbile, and Moniya axis = 72, Agbowo, Ajibode, and Apete axis = 74; Akobo, Basorun, and Idi-ape axis 79; Wofun, Monatan, and Iyana-Church axis = 78; Molete, Oke-ado and Oke-Bola axis = 75; Beere, Odinjo, Elekuro axis = 77; Eleyele, Ologuneru, and Alesinloye axis = 79. Major Findings: Multiple regression was used to analyze the independent variables and percentage. The respondents average age was 15.6 years old, and with 100% male. The instrument(questionnaire) used yielded; sport preference (r = 0.72); intervention (r = 0.68) and the sustainable participation (r = 0.70).The relative contributions of sport preference on participation of at risk teenagers was (F-ratio = 1.067); Intervention contribution of sport on participation of at risk teenagers = produced (F-ratio of 12.095) was significant while sustainable participation of at risk teenager produced (F-ratio = 1.062) was significant. Closing Statement: The respondents’ sport preference stimulated their participation in sport. The intervention exposed at risk-teenagers to coaching, which activated their interest and participation in sport. While sustainable participation contributed positively to evolve at risk teenagers participation in their preferred sport.

Keywords: sport, preference, intervention, teenagers, sustainable, participation and risk teenagers

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