Search results for: market basket analysis

Authors: Tan Swee Liang

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This paper estimates bank and stock market efficiency associations with real per capita GDP growth by examining panel-data across three different regions using Panel-Corrected Standard Errors (PCSE) regression developed by Beck and Katz (1995). Data from five economies in ASEAN (Singapore, Malaysia, Thailand, Philippines, and Indonesia), five economies in Asia (Japan, China, Hong Kong SAR, South Korea, and India) and seven economies in OECD (Australia, Canada, Denmark, Norway, Sweden, United Kingdom U.K., and United States U.S.), between 1990 and 2017 are used. Empirical findings suggest one, for Asia-5 high bank net interest margin means greater bank profitability, hence spurring economic growth. Two, for OECD-7 low bank overhead costs (as a share of total assets) may reflect weak competition and weak investment in providing superior banking services, hence dampening economic growth. Three, stock market turnover ratio has negative association with OECD-7 economic growth, but a positive association with Asia-5, which suggest the relationship between liquidity and growth is ambiguous. Lastly, for ASEAN-5 high bank overhead costs (as a share of total assets) may suggest expenses have not been channelled efficiently to income generating activities. One practical implication of the findings is that policy makers should take necessary measures toward financial liberalisation policies that boost growth through the efficiency channel, so that funds are efficiently allocated through the financial system between financial and real sectors.

Keywords: financial development, banking system, capital markets, economic growth

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Authors: Kisik Song, Sungjoo Lee

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Recent years have seen an increasing number of patent disputes due to excessive competition in the global market and a reduced technology life-cycle; this has increased the risk of investment in technology development. While many global companies have started developing a methodology to identify promising technologies and assess for decisions, the existing methodology still has some limitations. Post hoc assessments of the new technology are not being performed, especially to determine whether the suggested technologies turned out to be promising. For example, in existing quantitative patent analysis, a patent’s citation information has served as an important metric for quality assessment, but this analysis cannot be applied to recently registered patents because such information accumulates over time. Therefore, we propose a new technology assessment model that can replace citation information and positively affect technological development based on post hoc analysis of the patents for promising technologies. Additionally, we collect customer reviews on a target technology to extract keywords that show the customers’ needs, and we determine how many keywords are covered in the new technology. Finally, we construct a portfolio (based on a technology assessment from patent information) and a customer-based marketability assessment (based on review data), and we use them to visualize the characteristics of the new technologies.

Keywords: technology assessment, patents, citation information, opinion mining

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Authors: Hala S. Mekawy

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Affordable housing delivery for low and lower middle income families is a prominent problem in many developing countries; governments alone are unable to address this challenge due to diverse financial and regulatory constraints, and the private sector's contribution is rare and assists only middle-income households even when institutional and legal reforms are conducted to persuade it to go down market. Also, the market-enabling policy measures advocated by the World Bank since the early nineties have been strongly criticized and proven to be inappropriate to developing country contexts, where it is highly unlikely that the formal private sector can reach low income population. In addition to governments and private developers, affordable housing delivery systems involve an intricate network of relationships between diverse ranges of actors. Collaboration between them was proven to be vital, and hence, an approach towards partnership schemes for affordable housing delivery has emerged. The basic premise of this paper is that addressing housing affordability challenges in Egypt demands direct public support, as markets and market actors alone would never succeed in delivering decent affordable housing to low and lower middle income groups. It argues that this support would ideally be through local level partnership schemes, with a leading decentralized local government role, and partners being identified according to specific local conditions. It attempts to identify major attributes that would ensure the fulfilment of the goals of such schemes in the Egyptian context. This is based upon evidence from diversified worldwide experiences, in addition to the main outcomes of a questionnaire that was conducted to specialists and chief actors in the field.

Keywords: affordable housing, partnership schemes, housing, urban environments

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Authors: Lemu Abebe Geleta

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In this study, it compare the performance of banks and financial services (operational, financial, and market) across four major regions including Asia, Europe, Africa, and North with the extent of sustainability reporting. We examine how the Environment, Social, and Governance score (ESG) and the three pillars such as Return on Assets, Return on Equity, and Tobin's (Q) affect the performance of banks using data collected from 3450 observations across 40 different nations over ten years of (2011-2020). it also consider implications for governance, macroeconomics, and specific bank attributes. The results indicate a negative correlation between ESG and operational performance (ROA), financial performance (ROE), and market performance (TQ). The inclusion of diverse political and economic contexts lends distinctiveness to this paper. the findings hold significant theoretical implications for global scholars and policymakers. The limited correlation between ESG, its pillars, and the performance of banks and financial services underscores managerial shortcomings within these sectors.

Keywords: bank specialization, financial crisis, credit risk, difference-in-differences, herfindahl hirschman index

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Authors: Elena Collino, Dario A. Ronzio, Goffredo Decimi, Maurizio Riva

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The rapid increase of renewable energy in Italy is led by wind and solar installations. The 2017 Italian energy strategy foresees a further development of these sustainable technologies, especially solar. This fact has resulted in new opportunities, challenges, and different problems to deal with. The growth of renewables allows to meet the European requirements regarding energy and environmental policy, but these types of sources are difficult to manage because they are intermittent and non-programmable. Operationally, these characteristics can lead to instability on the voltage profile and increasing uncertainty on energy reserve scheduling. The increasing renewable production must be considered with more and more attention especially by the Transmission System Operator (TSO). The TSO, in fact, every day provides orders on energy dispatch, once the market outcome has been determined, on extended areas, defined mainly on the basis of power transmission limitations. In Italy, six market zone are defined: Northern-Italy, Central-Northern Italy, Central-Southern Italy, Southern Italy, Sardinia, and Sicily. An accurate hourly renewable power forecasting for the day-ahead on these extended areas brings an improvement both in terms of dispatching and reserve management. In this study, an operational forecasting tool of the hourly solar output for the six Italian market zones is presented, and the performance is analysed. The implementation is carried out by means of a numerical weather prediction model, coupled with a statistical post-processing in order to derive the power forecast on the basis of the meteorological projection. The weather forecast is obtained from the limited area model RAMS on the Italian territory, initialized with IFS-ECMWF boundary conditions. The post-processing calculates the solar power production with the Analog Ensemble technique (AN). This statistical approach forecasts the production using a probability distribution of the measured production registered in the past when the weather scenario looked very similar to the forecasted one. The similarity is evaluated for the components of the solar radiation: global (GHI), diffuse (DIF) and direct normal (DNI) irradiation, together with the corresponding azimuth and zenith solar angles. These are, in fact, the main factors that affect the solar production. Considering that the AN performance is strictly related to the length and quality of the historical data a training period of more than one year has been used. The training set is made by historical Numerical Weather Prediction (NWP) forecasts at 12 UTC for the GHI, DIF and DNI variables over the Italian territory together with corresponding hourly measured production for each of the six zones. The AN technique makes it possible to estimate the aggregate solar production in the area, without information about the technologic characteristics of the all solar parks present in each area. Besides, this information is often only partially available. Every day, the hourly solar power forecast for the six Italian market zones is made publicly available through a website.

Keywords: analog ensemble, electricity market, PV forecast, solar energy

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Authors: John Akinwumi Makinde

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Nigerian manufacturing industry, particularly the fast moving consumer producing firms play vital roles in Nigerian economy. This sector’s product acceptability is given very little attention along with social media advertising that communicate product information to audience across the globe need to be documented. Procter and Gamble Plc operate in Nigeria with appreciable number of fast moving consumer goods that service Nigerian economy. Social media advertising disposition of the company and product acceptability of the company deserve some elucidations. This study therefore examined the impact of social media advertising on product acceptability of FMCG in Nigerian manufacturing industry, using Procter and Gamble Plc as case study. The study employed the case study type of descriptive survey research design. The population consisted of 235 customers of G&P Plc, which were selected through random sampling method. A total of 235 copies of questionnaires titled 'Social Media Advertising and Product Acceptability (SMA-PA) Questionnaire' was administered and retrieved. Data generated were analysed using frequency distribution and regression analysis at 0.05 level. It was found that social media advertising positively and significantly motivated customers to buy product of P&G Plc (r =.147**, N= 235, p(.000) < .01). Findings also showed that social media advertising has significant impact on product acceptability of FCMG in P&G Plc (F(2,61)=22.250; R2=.629; P(.000) < .05). The study concluded that social media advertising is a determinant factor of consumer decision to accept fast moving consumer goods in Nigerian manufacturing industry. It is recommended that with the growing market of FMCG, there is need to educate the market with the product unique features, standard and quality on social media. Finally, Fast Moving Consumer Goods firms should deploy excellent marketing mix on social media.

Keywords: advertising, fast moving consumer goods, manufacturing industry, product acceptability, social media

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Authors: José Manue Carvalho Vieira, Mariana Magalhães, Elizabeth Serra

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The Port Wine industry is essential to Portugal because it carries a tangible cultural heritage and for social and economic reasons. Positioned as a luxury product, brands need to pay more attention to the new generation's habits, preferences, languages, and sensory perceptions. Healthy lifestyles, anti-alcohol campaigns, and digitalisation of their buying decision process need to be better understood to understand the wine market in the future. The purpose of this study is to clarify the sensory perception gap between Port Wine descriptors promotion and the new generation's perceptions to help wineries to align their strategies. Based on the interpretivist approach - multiple methods and techniques (mixed-methods), different world views and different assumptions, and different data collection methods and analysis, this research integrated qualitative semi-structured interviews, Port Wine promotion contents, and social media perceptions mined by Sentiment Analysis Enginius algorithm. Findings confirm that Port Wine CEOs' strategies, brands' promotional content, and social perceptions are not sufficiently aligned. The central insight for Port Wine brands' managers is that there is a long and continuous work of understanding and associating their descriptors with the most relevant perceptual values and criteria of their targets to reposition (when necessary) and sustainably revitalise their brands. Finally, this study hypothesised a sensory gap that leads to a decrease in consumption, trying to find recommendations on how to transform it into an advantage for a better attraction towards the young age group (18-25).

Keywords: port wine, consumer habits, sensory gap analysis, wine marketing

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Authors: Sylwia Frydrych, Jörg Prokop, Michał Buszko

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This study investigates the complex relationship between corporate ESG (Environmental, Social, Governance) performance and stock price risk within the European market context. By analyzing a dataset of 435 companies across 19 European countries, the research assesses the impact of both combined ESG performance and its individual components on various risk measures, including volatility, idiosyncratic risk, systematic risk, and downside risk. The findings reveal that while overall ESG scores do not significantly influence stock price risk, disaggregating the ESG components uncovers significant relationships. Governance practices are shown to consistently reduce market risk, positioning them as critical in risk management. However, environmental engagement tends to increase risk, particularly in times of regulatory shifts like those introduced in the EU post-2018. This research provides valuable insights for investors and corporate managers on the nuanced roles of ESG factors in financial risk, emphasizing the need for careful consideration of each ESG pillar in decision-making processes.

Keywords: ESG performance, ESG factors, ESG pillars, ESG scores

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Authors: Radosław Pastusiak, Anna Kaźmierska, Magdalena Jasiniak

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The impact of Special Economic Zones (SEZs) has been analyzed for many years by researchers. There are lot of theoretical studies proving the SEZs importance for regional development, however, there is lack of empirical studies (and they are mainly focused on China market) that are based on available data. The theoretical studies indicate the various impacts of enterprises operating within SEZs on the economy. The article proves that, in case of Poland, locating SEZs in municipalities is an important part of increasing municipalities’ income. Therefore SEZs have a positive impact on regional development. Municipality income is understood as taxes paid by taxpayers who depend on SEZ companies’ performance. The analysis includes the Corporate Income Tax (CIT), Personal Income Tax (PIT) and real estate tax. The effects of SEZs on regional development were narrowed to a few variables that are most significant for the financial system. The analysis indicates the significant impact of SEZs on the amount of taxes influencing the municipality budget.

Keywords: special economic zone, local finance, municipal finance, government

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Authors: Nana Katsitadze, Tamar Atanelishvili, Mariam Kutateladze, Alexandre Tushishvili

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In the modern world, tourism has emerged as one of the most powerful economic sectors, and due to its high economic performance, it is attractive to the countries with various levels of economic development. The purpose of the present paper, dedicated to discussing the current problems of tourism development, is to find ways which will contribute to bringing more benefits to the country from the sector. Georgia has been successfully developing leisure tourism for the last ten years, and at the next stage of development business, tourism gains particular importance for Georgia as a means of mitigating the negative socio-economic effects caused by the seasonality of tourism and as a high-cost tourism market. Therefore, the object of the paper is to study the factors that contribute to the development of business tourism. The paper uses the research methods such as system analysis, synthesis, analogy, as well as historical, comparative, economic, and statistical methods of analysis. The information base for the research is made up of the statistics on the functioning of the tourism market of Georgia and foreign countries as well as official data provided by international organizations in the field of tourism. Based on the experience of business tourism around the world and identifying the successful start of business tourism development in Georgia and its causing factors, a business tourism development model for Georgia has been developed. The model might be useful as a methodological material for developing a business tourism development concept for the countries with limited financial resources but rich in tourism resources like Georgia. On the initial stage of development (in absence of conventional centers), the suggested concept of business tourism development involves organizing small and medium-sized meetings both in large cities and in regions by using high-class hotel infrastructure and event management services. Relocation of small meetings to the regions encourages inclusive development of the sector based on increasing the awareness of these regions as tourist sites as well as the increase in employment and sales of other tourism or consumer products. Business tourism increases the number of hotel visitors in the non-seasonal period and improves hotel performance indicators, which enhances the attractiveness of investing in the hotel business. According to the present concept of business tourism development, at the initial stage, development of business tourism is based on the existing markets, including internal market, neighboring markets and the markets of geographically relatively near countries and at the next stage, the concept involves generating tourists from other relatively distant target markets. As a result, by gaining experience in business tourism, enhancing professionalism, increasing awareness and stimulating infrastructure development, the country will prepare the basis to move to a higher stage of tourism development. In addition, the experience showed that for attracting large customers, peculiarities of the field require activation of state policy and active use of marketing mechanisms and tools of the state.

Keywords: hotel industry development, MICE model, MICE strategy, MICE tourism in Georgia

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Authors: Yi-Chun Kuo, Jo-Chieh Lin

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The objective of a supply chain strategy is to reduce waste and increase efficiency to attain cost benefits, and to guarantee supply chain flexibility when facing the ever-changing market environment in order to meet customer requirements. Strategy implementation aims to fulfill common goals and attain benefits by integrating upstream and downstream enterprises, sharing information, conducting common planning, and taking part in decision making, so as to enhance the overall performance of the supply chain. With the rise of outsourcing and globalization, the increasing dependence on suppliers and customers and the rapid development of information technology, the complexity and uncertainty of the supply chain have intensified, and supply chain vulnerability has surged, resulting in adverse effects on supply chain performance. Thus, this study aims to use supply chain vulnerability as a moderating variable and apply structural equation modeling (SEM) to determine the relationships among supply chain strategy, supply chain integration, and supply chain performance, as well as the moderating effect of supply chain vulnerability on supply chain performance. The data investigation of this study was questionnaires which were collected from the management level of enterprises in Taiwan and China, 149 questionnaires were received. The result of confirmatory factor analysis shows that the path coefficients of supply chain strategy on supply chain integration and supply chain performance are positive (0.497, t= 4.914; 0.748, t= 5.919), having a significantly positive effect. Supply chain integration is also significantly positively correlated to supply chain performance (0.192, t = 2.273). The moderating effects of supply chain vulnerability on supply chain strategy and supply chain integration to supply chain performance are significant (7.407; 4.687). In Taiwan, 97.73% of enterprises are small- and medium-sized enterprises (SMEs) focusing on receiving original equipment manufacturer (OEM) and original design manufacturer (ODM) orders. In order to meet the needs of customers and to respond to market changes, these enterprises especially focus on supply chain flexibility and their integration with the upstream and downstream enterprises. According to the observation of this research, the effect of supply chain vulnerability on supply chain performance is significant, and so enterprises need to attach great importance to the management of supply chain risk and conduct risk analysis on their suppliers in order to formulate response strategies when facing emergency situations. At the same time, risk management is incorporated into the supply chain so as to reduce the effect of supply chain vulnerability on the overall supply chain performance.

Keywords: supply chain integration, supply chain performance, supply chain vulnerability, structural equation modeling

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Authors: András Medve, Katalin Szabad, István Patkó

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According to the International Energy Association the previous principles of the energy sector should be reassessed, in which renewable energy sources have a significant role. We might witness the exchange of roles of countries from importer to exporter, which look for the main resources of market needs. According to the World Energy Outlook 2013, the duration of high oil prices is exceptionally long in the history of the energy market. Forecasts also point at the expected great differences between the regional prices of gas and electric energy. The energy need of the world will grow by its third. two thirds of which will appear in China, India, and South-East Asia, while only 4 per cent of which will be related to OECD countries. Current trends also forecast the growth of the price of energy sources and the emission of glasshouse gases. As a reflection of these forecasts alternative energy sources will gain value, of which geothermic energy is one of the cheapest and most economical. Hungary possesses outstanding resources of geothermic energy. The aim of the study is to research the environmental effects of geothermic energy and the opportunities of its exploitation in Hungary, related to „Horizon 2020” project.

Keywords: sustainable energy, renewable energy, development of geothermic energy in Hungary

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Authors: Despina Yiakoumi, Agathe Rouaix

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Laboratory experiments were run to investigate the impact of different design characteristics of the auctions, which have been implemented to procure capacity in the UK’s reformed electricity markets. The experiment studies competition among bidders in procurement multi-unit discrete descending clock auctions under different feedback policies and pricing rules. Theory indicates that feedback policy in combination with the two common pricing rules; last-accepted bid (LAB) and first-rejected bid (FRB), could affect significantly the auction outcome. Two information feedback policies regarding the bidding prices of the participants are considered; with feedback and without feedback. With feedback, after each round participants are informed of the number of items still in the auction and without feedback, after each round participants have no information about the aggregate supply. Under LAB, winning bidders receive the amount of the highest successful bid and under the FRB the winning bidders receive the lowest unsuccessful bid. Based on the theoretical predictions of the alternative auction designs, it was decided to run three treatments. First treatment considers LAB with feedback; second treatment studies LAB without feedback; third treatment investigates FRB without feedback. Theoretical predictions of the game showed that under FRB, the alternative feedback policies are indifferent to the auction outcome. Preliminary results indicate that LAB with feedback and FRB without feedback achieve on average higher clearing prices in comparison to the LAB treatment without feedback. However, the clearing prices under LAB with feedback and FRB without feedback are on average lower compared to the theoretical predictions. Although under LAB without feedback theory predicts the clearing price will drop to the competitive equilibrium, experimental results indicate that participants could still engage in cooperative behavior and drive up the price of the auction. It is showed, both theoretically and experimentally, that the pricing rules and the feedback policy, affect the bidding competitiveness of the auction by providing opportunities to participants to engage in cooperative behavior and exercise market power. LAB without feedback seems to be less vulnerable to market power opportunities compared to the alternative auction designs. This could be an argument for the use of LAB pricing rule in combination with limited feedback in the UK capacity market in an attempt to improve affordability for consumers.

Keywords: descending clock auctions, experiments, feedback policy, market design, multi-unit auctions, pricing rules, procurement auctions

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Authors: Mohammed Saleem Tariq

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The enthusiasm for gluten avoidance in a growing market is met by improvements in sensitive detection methods for analysing gluten content. Paradoxically, manufacturers employ no such systems in the production process but continue to market their product as gluten free, a significant risk posed to an undetermined coeliac population. The paper resonates with an immunological response that causes gastrointestinal scarring and villous atrophy with the conventional description of personal injury. The current developing regime in the UK however, it is discussed, has avoided creating specific rules to provide an adequate level of protection for this type of vulnerable ‘characteristic’. Due to the struggle involved with identifying an appropriate cause of action, this paper analyses whether a claim brought in misrepresentation, negligence and/or under the Consumer Protect Act 1987 could be sustained. A necessary comparison is then made with the approach adopted by the Americans with Disability Act 1990 which recognises this chronic disease as a disability. The ongoing failure to introduce a level of protection which matches that afforded to those who fall into any one of the ‘protected characteristics’ under the Equality Act 2010, is inconceivable given the outstanding level of legal vulnerability.

Keywords: coeliac, litigation, misrepresentation, negligence

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Authors: Bhakti Chitale

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Mumbai city, which is the business capital of India and one of the most crowded cities in the world, holds the biggest slum in Asia. The Mumbai Metropolitan Region (MMR) occupies an area of 4035 sq.km. with a population of 22.8 million people. This population is mostly urban with 91% of this population living in areas of Municipal Corporations and Councils. Another 3% live in Census Towns. The region has 9 Municipal Corporations, 8 Municipal councils, and around 1000 villages. On the one hand MMR reflects the highest contribution to the Nations overall economy and on the other hand it shows the horrible and intolerable picture of about 2 million people, who are living in slums/without even slum with totally unhygienic conditions and with total loss of hope. The generations are about to get affected adversely if the solution is not worked out. This study is an attempt towards working out the solution. Mumbai Metropolitan Region Development Authority (MMRDA) is state government's authority, specially formed to govern the development of MMR. MMRDA is engaged in long term planning, promotion of new growth centres, implementation of strategic projects and financing infrastructure development. While preparing the master plan for MMR for next 20 years MMRDA conducted a detail study regarding Housing scenario in MMR and possible options for improvement. The author was the in charge officer for the said assignment. This paper puts light on the interesting outcomes of the research study, which ranges from the adverse effects of government policies, automatic responses of housing market, effects on planning processes, and overall changing needs of housing patterns in the world due to changes in the social mechanism. It alarms the urban planners who usually focus on smart infrastructure development, about allied future dangers. This housing study will explain the complexities, realities and needs of innovations in the housing policies all over the world. The paper will explain further few success stories and failure stories of government initiatives with reasons. It gives the clear idea about the differences in needs of housing for people from different economic groups and direct and indirect market pressures on low cost housing. Magical phenomenon came in front like a large percentage of vacant houses is present in spite of the huge need. Housing market gets affected by the developments or any other physical and financial changes taking place in the nearby areas or cities, also by changes in cities which are located far from the region and also by the international investments or policy changes. Instead of just depending on governments actions in case of generation of affordable housing, it becomes equally important to make the housing markets automatically generate such stock and still make them sustainable is the aim of all the movement. In summary, we may say that the paper will sequentially elaborate the complete dynamics of housing in one of the most crowded urban area in the world that is Mumbai Metropolitan Region, with a lot of data, analysis, case studies, and recommendations.

Keywords: Mumbai India, slum housing, region planning, market recommendations

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Authors: Yi-Hsuan Gloria Lo

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The educational objective of vocational high schools (VHSs) is to equip VHS students with practical skills and knowledge that can be applied in the job-related market. However, with the increasing number of technological universities over the past two decades, the majority of VHS students have chosen to receive higher education rather than enter the job market. VHS English education has been confronting a dilemma: Should an English for specific purposes (ESP) approach, which aligns with the educational goal of VHS education, be taken or should an English for general purposes (EGP) approach, which prepares VHS students for advanced studies in universities, be followed? While ESP theorists proposed that that ESP can be taught to secondary learners, little was known about VHS students’ perspective on this ESP-versus-EGP dilemma. Scant research has investigated different facets of students’ needs (necessities, wants, and lacks) for both ESP and EGP in terms of the four language skills and the factors that contribute to any differences. To address the gap in the literature, 100 VHS students responded to statements related to their necessities, wants, and lacks in learning ESP and EGP on a 6-point Likert scale. Six VHS students were interviewed to tap into the reasons for different facets of the needs for learning EGP and ESP. The statistical analysis indicates that at this stage of learning English, VHS subjects believed that EGP was more necessary than ESP; EGP was more desirable than ESP. However, they reported that they were more lacking in ESP than in EGP learning. Regarding EGP, the results show that the VHS subjects rated speaking as their most necessary skill, speaking as the most desirable skill, and writing as the most lacking skill. A significant difference was found between perceived learning necessities and lacks and between perceived wants and lacks. No statistical difference was found between necessities and wants. In the aspect of ESP, the results indicate that the VHS subjects marked reading as their most necessary skill, speaking as the most desirable skill, and writing as the most lacking skill. A significant difference exists between their perceived necessities and lacks and between their wants and lacks. However, there is no statistically significant difference between their perceived lacks and wants. Despite the lack of a significant difference between learning necessities and wants, the qualitative interview data reveal that the reasons for their perceived necessities and wants were different. The findings of the study confirm previous research that demonstrates that ‘needs’ is a multiple and conflicting construct. What VHS students felt most lacking was not necessarily what they believed they should learn or would like to learn. Although no statistical difference was found, different reasons were attributed to their perceived necessities and wants. Both theoretical and practical implications have been drawn and discussed for ESP research in general and teaching ESP in VHSs in particular.

Keywords: vocational high schools (VHSs), English for General Purposes (EGP), English for Specific Purposes (ESP), needs analysis

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Authors: Silke Bustamante, Andrea Pelzeter, Andreas Deckmann, Rudi Ehlscheidt, Franziska Freudenberger

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Against the background of demographic changes and the need for motivated and talented employees, companies have a growing interest in being perceived as an attractive employer and gain a competitive edge in the market for talents. Research indicates that corporate social responsibility plays an important role employer choice. This is assumed to be particularly true for the cohorts of the so-called generations y younger applicants born later. Several studies identified cultural, educational and generational differences in CSR preferences. However, until now literature that links preferences for employers’ responsibility with the individual value orientation of the job applicant is scarce. This paper seeks to close this gap and analyzes the preference structure of 500 German university graduates for CSR-related and non-CSR-related employer attributes contingent on their value orientation. In a first step, we identified 17 CSR related attributes in five CSR dimensions (ecology, community, workplace, governance, and market) as well as 11 traditional attributes such as salary, reputation, personal development etc. based on literature review and focus groups. We then used an adapted Conjoint Analysis framework in order to understand the relative preference of each attribute for each participant. Additionally, we surveyed the value orientation of participants based on the European Social Survey (ESS) 21-item human values scale that allow a differentiation of participants into clusters of value orientation. The results allow us not only to operationalize preferences for CSR and other important employer attributes, but – more importantly – to answer the question how different values structures play together with CSR preferences of potential employees. They hereby allow companies to customize employee directed messages to their respective target group and design their employer brand accordingly.

Keywords: corporate social responsibility, employer attractiveness, employer brand, recruiting, values

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Authors: Mihaela Munteanu (Pila), Silvius Stanciu

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This paper presents the aspects of the official control of fishery in the Republic of Moldova. Currently, the regulations and the activity of national institutions with responsibilities in the field of food quality are in a process of harmonization with the European rules, aiming at European integration, quality improvement and providing a higher level of food safety. The National Agency for Food Safety is the main national body with responsibilities in the field of food safety. In the field of fishery products, the Agency carries out an intensive activity of informing the citizen and controlling the products marketed. The paper presents the dangers related to the consumption of fish and fishery products traded on the national market, the sanitary-veterinary inspections conducted by the profile institution and the improper situations identified. The national market of fishery products depends largely on imports, mainly focused on ocean fish. The research carried out has shown that during the period 2011-2018, following the inspections carried out on fishery products traded on the national market, a number of inconsistencies have been identified. Thus, indigenous products were frequently detected with sensory characteristics unfit for consumption, and being commercialized in inappropriate locations or contaminated with chemical pollutants. On import products controlled, the most frequent inconsistent situations have been represented by inconsistent sensory aspects and by parasite contamination. Taking into account the specific aspects of aquatic products, including the high level of alterability, special conditions of growth, marketing, culinary preparation and consumption are necessary in order to decrease the risk of disease over the population. Certificates, attestations and other documents certifying the quality of batches, completed by additional laboratory examinations, are necessary in order to increase the level of confidence on the quality of products marketed in the Republic. The implementation of various control procedures and mechanisms at national level, correlated with the focused activity of the specialized institutions, can decrease the risk of contamination and avoid cases of disease on the population due to the consumption of fishery products.

Keywords: fishery products, food safety, quality control, Republic of Moldova

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Authors: Assefa Mitike Janko, Gosa Alemu

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The review of supply and marketing of floriculture in Ethiopia was conducted to analyses the production potential and to know the marketing share of the country. The data was collected from secondary and primary. Ethiopia has been operating in the floriculture industry for over 20 years. As is the case in many developing countries, the major export items of Ethiopia are dominated by few agricultural products that earn very small amounts in the international market. Moreover, most of the exports are destined to only few countries. Given the highly capital intensive nature of production and processing, rose farming is not a smallholder activity. It is also important to note the extremely tightly controlled time dimension of the logistics process, given the product attributes desired and the fragility and perishability of the roses. Another characteristic of the Ethiopian floriculture sector is the lack of domestically produced inputs that flower producers can access. The export volume and value of cut-flowers accounts for a small proportion of the total exports of Ethiopia. In recent years the sector is showing improvements in terms of the quality and quantity of exports to the international market.

Keywords: roses, production, value chain, floriculture, supply

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Authors: Zeljana Aljinovic Barac, Marina Granic, Tina Vuko

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Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analysed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.

Keywords: annual report, Croatian companies, disclosure index, voluntary disclosure

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Authors: Helee Dave

Abstract:

Globalization has helped in the growth and change of the Indian economy to a great extent. The purchasing power of Indians has increased. IT Infrastructure has considerably improved in India. There is an increase in the usage of smartphones. The smartphones facilitate all sorts of work now a day, from getting groceries to planning a tour; it is just one click away. Similar is the case with equity trading. The traders in equity market can now deal with their stocks through mobile applications eliminating the middle man. The traders do not have an option but to open a dematerialization account with the banks which are compulsory enough irrespective of their mode of transaction that is online or offline. Considering that India is a young country having more than 50% of its population below the age of 25 and 65% of its population below the age of 35; this youth is comfortable with the usage of smartphones. The banking industry is also providing a virtual platform supporting equity market industry. Yet equity trading through online applications is at an infant stage. This paper primarily attempts to understand challenges and opportunities faced by equity trading through mobile apps in India.

Keywords: BPO, business process outsourcing, de-materialization account, equity, ITES, information technology enabled services

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Authors: Sayed Kifayat Shah, Tang Zhongjun, Arfa Tanveer

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This study explores the significant heatwave effect on stock return and volatility. Using an ARCH/GARCH approach, it examines the relationship between the heatwave of Karachi, Islamabad, and Lahore on the KSE-100 index. It also explores the impact of heatwave on returns of the pharmaceutical and electronics industries. The empirical results confirm that that stock return is positively related to the heat waves of Karachi, negatively related to that of Islamabad, and is not affected by the heatwave of Lahore. Similarly, pharmaceutical and electronics indices are also positively related to heatwaves. These differences in results can be ascribed to the change in the behavior of the residents of that city. The outcomes are useful for understanding an investor's behavior reacting to weather and fluxes in stock price related to heatwave severity levels. The results can support investors in fixing biases in behavior.

Keywords: ARCH/GARCH model, heat wave, KSE-100 index, stock market return

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Authors: Numtana Ladplee, Cherif Haberih

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The value of service evaluation depends critically on guests’ understanding of the evaluation objectives and their roles. The present research presents a three-phase investigation of the impact of evaluating participants’ theories about their roles: (a) identifying the theories, (b) testing the process consequences of participants’ role theories, and (c) gaining insights into the impact of participants’ role theories by testing key moderator/s. The findings of this study will hopefully indicate that (a) when forewarned of an upcoming evaluation task, consumers tend to believe that the evaluation objective is to identify aspects that need improvement, (b) this expectation produces a conscious attempt to identify negative aspects, although the encoding of attribute information is not affected, and (c) cognitive load during the evaluation experience greatly decreases the negativity of expected evaluations. The present study can be applied to other market research techniques and thereby improve our understanding of consumer inputs derived from market research. Such insights can help diminish biases produced by participants’ correct or incorrect theories regarding their roles.

Keywords: fulfillment, hotel guests, service, Thailand

Procedia PDF Downloads 275

Authors: Gizem İntepe, Eti Mizrahi

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Investment and financing decisions are influenced by various economic features. Detailed analysis should be conducted in order to make decisions not only by companies but also by governments. Such analysis can be conducted either at the company level or on a sectoral basis to reduce risks and to maximize profits. Sectoral disaggregation caused by seasonality effects, subventions, data advantages or disadvantages may appear in sectors behaving parallel to BIST (Borsa Istanbul stock exchange) Index. Proposed logistic indices could serve market needs as a decision parameter in sectoral basis and also helps forecasting activities in import export volume changes. Also it is an indicator of logistic activity, which is also a sign of economic mobility at the national level. Publicly available data from “Ministry of Transport, Maritime Affairs and Communications” and “Turkish Statistical Institute” is utilized to obtain five logistics indices namely as; exLogistic, imLogistic, fLogistic, dLogistic and cLogistic index. Then, efficiency and reliability of these indices are tested.

Keywords: economic activity, export trade data, import trade data, logistics indices

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Authors: Jing-Ma

Abstract:

Digital transformation (DT) is an important way for manufacturing enterprises to shape new competitive advantages, and how to choose an effective DT strategy is crucial for enterprise growth and sustainable development. Rooted in strategic change theory, this paper incorporates the dimensions of managers' digital cognition, organizational conditions, and external environment into the same strategic analysis framework and integrates the dynamic QCA method and PSM method to study the antecedent grouping of the DT strategy mode of manufacturing enterprises and its impact on corporate profitability based on the data of listed manufacturing companies in China from 2015 to 2019. We find that the synergistic linkage of different dimensional elements can form six equivalent paths of high-level DT, which can be summarized as the proactive change mode of resource-capability dominated as well as adaptive response mode such as industry-guided resource replenishment. Capacity building under complex environments, market-industry synergy-driven, forced adaptation under peer pressure, and the managers' digital cognition play a non-essential but crucial role in this process. Except for individual differences in the market industry collaborative driving mode, other modes are more stable in terms of individual and temporal changes. However, it is worth noting that not all paths that result in high levels of DT can contribute to enterprise profitability, but only high levels of DT that result from matching the optimization of internal conditions with the external environment, such as industry technology and macro policies, can have a significant positive impact on corporate profitability.

Keywords: digital transformation, strategy mode, enterprise profitability, dynamic QCA, PSM approach

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Authors: Marinko Maslaric, Maja Jokic

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When searching for fast and long term responses, sustainable logistics and supply chain applications have developed irrefutable theories and hypotheses towards market requirements. Nevertheless, there are certain misunderstandings on how the implementation of sustainability principles (social, economical, and environmental) and concepts should work in practice, more specifically, within a humanitarian supply chain management context. This paper will focus on the review and analysis of risk management concepts in humanitarian supply chain in order to identify their compliance with sustainable principles. In this direction, the study will look for strategies that suggest: minimization of environmental impacts throughout the reduction of resources consumption, depreciation of logistics costs, including supply chain ones, minimization of transportation and service costs, elaboration of quality performance of supply chain and logistics, and reduction of supply chain delivery time. On the side of meeting all defense, trades and humanitarian logistics needs, the research will be aligned to UN Sustainable Development Goals, standards, and performances. It will start with relevant strategies for identification of risk indicators and it will end with suggestion of valuable strategic approaches for their minimization or total prevention. Finally, a content analysis will propose a suitable methodological structure for the creation of most sustainable strategy in risk management of humanitarian supply chain. Content analysis will accompany thorough, consistent and methodical approach of literature review for potential disaster risk management plan. Thereupon, the propositions of this research will look for contemporary literature gaps, with respect to operate the literature analysis and to suggest the appropriate sustained risk low master plan. The indicated is here to secure the high quality of logistics practices in hazardous events.

Keywords: humanitarian logistics, sustainability, supply chain risk, risk management plan

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Authors: Y. N. Fung, R. Liu, T. M. Choi

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Over the past decades, previous studies have explored different consumers’ attitudes towards sustainable fashion and how these attitudes affect consumer behaviors. Researchers have attempted to provide solutions for product suppliers (e.g., retailers, designers, developers, and manufacturers) through studying consumers’ attitudes towards sustainable fashion. However, based on the studies of consumer attitudes, investigations on the sales and market share of sustainable sportswear products remain under-explored. Gaps may exist between the consumers’ expectations and the developed sustainable sportswear products. In this study, a novel study has been carried out to examine the attitude gaps existing between the sustainable sportswear suppliers’ (SSSs) and the sustainable sportswear consumers (SSCs). This study firstly identifies the key attitudes towards sustainable sportswear product development. It analyses how sustainable attitudes affect the products being developed, as well as the effects of the attitude’s difference between the SSSs and the SSCs on the consumers’ satisfaction towards sportswear product consumption. A gap analysis research framework is adopted with the use of collected questionnaire survey data. The results indicate that a significant difference exists between SSSs and SSCs’ attitudes towards sustainable design, manufacture, product features, and branding. Based on in-depth interviews, the major causes of the difference in attitudes are studied to provide managerial insights for sustainable sportswear product management and business development.

Keywords: sustainability, sportswear, attitude, gap analysis, suppliers, consumers

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Authors: R. Henry, H. Andriamboavonjy, J. B. Paulin, S. Drahy, R. Gourichon

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During past decade, Chinese monetary policy has been to maintain stability of exchange rate CNY/USD by creating parity between the two currencies. This policy, against market equilibrium, impacts the exchange rate in having low Yuan currency, and keeping attractiveness of Chinese industries. Using macroeconomic and statistic approach, the impact of such policy onto CNY/USD exchange rate is quantitatively determined. It is also pointed out how Chinese banks respect Basel III ratios, in particular the foreign exchange ratio. The main analysis is focusing on how Chinese banks will respect these ratios in the future.

Keywords: macroeconomics models, yuan floating exchange rate, basel iii, china banking system

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Authors: Sandra Maria Cerqueira Da Silva

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The construction of the material world involves a series of social power relations. These relations, in a way, can dictate, shape, judge and drive the profiles of so-called ‘ideal’ individuals. Gender relations, as power relations, are defined based on hierarchies, obediences and inequalities, and male domination seems, with few exceptions, to be rooted in every society around the world. The profile of the Brazilian woman, beyond patriarchal and market determinations, is strongly subjected to media products. Women are, numerically, the majority in Brazilian society. The social indicators point to slight advances in terms of years of study and professional qualification, as well as access to the job market; yet, differences in opportunity and conditions — often explained though the ‘unquestionable’ cultural rancidness argument — still hinder women’s ability to reach and keep job positions. These unequalities are also visible in everyday interactions and in gender relations, and they become greater once race is added to the analysis. For a black woman, her racial origins may play a part in determining the construction of her gender roles. In these terms, there is need to investigate the racial character of the sexual differences within a larger social proccess of naturalization and justification of cultural hierarchies. Thus, the goal of this study is to identify and discuss the media-built image of black women in Brazil. Furthermore, it is necessary to seek views different than those of the ruling classes. The study uses a qualitative approach based on the feminist standpoint, which intends to hold women’s experiences as central. The body of the research — images taken from the Internet — was treated through critical content analysis. The results show that in Brazil the profile of black women, beyond the machist and sexist generalizations, objectifies them or sees them as servants, always at the disposal of non-blacks. It is necessary to overcome the history of this nation, always considering the contribution of these women to the growth and development of places and societies. This can be done through the acknowledgement and highlighting of the few black women who were able to overcome the many barriers in their path and reach leadership position in the country. There are still many important challenges in the way of finding affirmative policies and reaching a more equal society in terms of gender and race; a serious and firm political commitment seems sine qua non.

Keywords: black woman, feminist standpoint, markings, objectification

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Authors: Abebaw Assaye, Seiichi Sakurai, Marutama Atsush, Dawit Alemu

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Rice is considered as a strategic agricultural commodity targeting national food security and import substitution in Ethiopia and diverse measures are put in place a number of initiatives to ensure the growth and development of rice sector in the country. This study assessed factors that influence smallholder farmers' level of rice commercialization in Ethiopia. The required data were generated from 594 randomly sampled rice producers using multi-stage sampling techniques from four major rice-producing regional states. Both descriptive and econometric methods were used to analyze the data. We adopted the ordered probit model to analyze factors determining output commercialization in the rice market. The ordered probit model result showed that the sex of the household head, educational status of the household head, credit use, proportion of irrigated land cultivated, membership in social groups, and land dedicated to rice production were found to influence significantly and positively the probability of being commercial-oriented. Conversely, the age of the household, total cultivated land, and distance to the main market were found to influence negatively. These findings suggest that promoting productivity-increasing technologies, development of irrigation facilities, strengthening of social institutions, and facilitating access to credit are crucial for enhancing the commercialization of rice in the study area. Since agricultural lands are limited, intensified farming through promoting improved rice technologies and mechanized farming could be an option to enhance marketable surplus and increase level of rice market particicpation.

Keywords: rice, commercialization, Tobit, ordered probit, Ethiopia

Procedia PDF Downloads 81