Search results for: tourism market

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

Procedia PDF Downloads 158

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 280

Authors: Riktesh Srivastava

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Online Shopping have established an astonishing evolution in the last few years. And it is now apparent that B2C architecture is becoming progressively imperative channel for even traditional brick and mortar type traders as well. In this completion knowing customers and predicting behavior are extremely important. More important, when any customer logs onto the B2C architecture, the traces of their buying patterns can be stored and used for future predictions. Such a prediction is called Customer Lifetime Value (CLV). Earlier, we used Net Present Value to do so, however, it ignores two important aspects of B2C architecture, “market risks” and “big amount of customer data”. Now, we use RFM- Recency, Frequency and Monetary Value to estimate the CLV, and as the term exemplifies, market risks, is well sheltered. Big Data Analysis is also roofed in RFM, which gives real exploration of the Big Data and lead to a better estimation for future cash flow from customers. In the present paper, 6 factors (collected from varied sources) are used to determine as to what attracts the customers to the B2C architecture. For these 6 factors, RFM is computed for 3 years (2013, 2014 and 2015) respectively. CLV and Revenue are the two parameters defined using RFM analysis, which gives the clear picture of the future predictions.

Keywords: CLV, RFM, revenue, recency, frequency, monetary value

Procedia PDF Downloads 222

Authors: Tao Zhang

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Job stress appears nearly everywhere especially in the hospitality industry because employees in this industry usually have to work long time and try to meet conflicting demands of their customers, managers, and company. To reduce job stress, employees of casino hotels try to perform leisure activities or tourism. However, casino employees often meet many obstacles or constraints when they plan to travel. Until now, there is little understanding as to why casino hotel employees often face many travel constraints or leisure barriers. What is more, few studies explore the relationship between travel constraints and job stress of casino employees. Therefore, this study is to explore the construct of casino hotel employees' travel constraints and the relationship among job stress, travel constraints, and job satisfaction. Using convenient sampling method, this study planned to investigate 500 front line employees and managers of ten casino hotels in Macau. A total of 500 questionnaires were distributed, and 414 valid questionnaires were received. The return rate of valid questionnaires is 82.8%. Several statistical techniques such as factor analysis, t-test, one-way ANOVA, and regression analysis were applied to analyze the collected data. The findings of this study are as follows. Firstly, by using factor analysis, this study found the travel constraints of casino employees include intrapersonal constraints, interpersonal constraints, and structural constraints. Secondly, by using regression analysis, the study found travel constraints are positively related with job stress while negatively related with job satisfaction. This means reducing travel constraints may create a chance for casino employees to travel so that they could reduce job stress, therefore raise their job satisfaction. Thirdly, this research divided the research samples into three groups by the degree of job stress. The three groups are low satisfaction group, medium satisfaction group, and high satisfaction group. The means values of these groups were compared by t-test. Results showed that there are significant differences of the means values of interpersonal constraints between low satisfaction group and high satisfaction group. This suggests positive interpersonal relationship especially good family member relationship reduce not only job stress but also travel constraints of casino employees. Interestingly, results of t-test showed there is not a significant difference of the means values of structural constraints between low satisfaction group and high satisfaction group. This suggests structural constraints are outside variables which may be related with tourism destination marketing. Destination marketing organizations (DMO) need use all kinds of tools and techniques to promote their tourism destinations so as to reduce structural constraints of casino employees. This research is significant for both theoretical and practical fields. From the theoretical perspective, the study found the internal relationship between travel constraints, job stress, and job satisfaction and the different roles of three dimensions of travel constraints. From the practical perspective, the study provides useful methods to reduce travel constraints and job stress, therefore, raise job satisfaction of casino employees.

Keywords: hotel, job satisfaction, job stress, travel constraints

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Authors: Navid Mohammadzadeh, Huy Truong-Ba, Michael Cholette

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The solar tower (ST) plant is a promising technology to exploit large-scale solar irradiation. With thermal energy storage, ST plant has the potential to shift generation to high electricity price periods. However, the size of storage limits the dispatchability of the plant, particularly when it should compete with uncertainty in forecasts of solar irradiation and electricity prices. The purpose of this study is to explore the size of storage when Rolling Horizon Control (RHC) is employed for dispatch scheduling. To this end, RHC is benchmarked against perfect knowledge (PK) forecast and two day-ahead dispatching policies. With optimisation of dispatch planning using PK policy, the optimal achievable profit for a specific size of the storage is determined. A sensitivity analysis using Monte-Carlo simulation is conducted, and the size of storage for RHC and day-ahead policies is determined with the objective of reaching the profit obtained from the PK policy. A case study is conducted for a hypothetical ST plant with thermal storage located in South Australia and intends to dispatch under two market scenarios: 1) fixed price and 2) wholesale spot price. The impact of each individual source of uncertainty on storage size is examined for January and August. The exploration of results shows that dispatching with RH controller reaches optimal achievable profit with ~15% smaller storage compared to that in day-ahead policies. The results of this study may be applied to the CSP plant design procedure.

Keywords: solar tower plant, spot market, thermal storage system, optimized dispatch planning, sensitivity analysis, Monte Carlo simulation

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Authors: Olga Biedova, Victoria Steblovskaya, Kai Wallbaum

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In the current capital market environment, investors constantly face the challenge of finding a successful and stable investment mechanism. Highly volatile equity markets and extremely low bond returns bring about the demand for sophisticated yet reliable risk management strategies. Investors are looking for risk management solutions to efficiently protect their investments. This study compares a classic Constant Proportion Portfolio Insurance (CPPI) strategy to a Volatility Target portfolio insurance (VTPI). VTPI is an extension of the well-known Option Based Portfolio Insurance (OBPI) to the case where an embedded option is linked not to a pure risky asset such as e.g., S&P 500, but to a Volatility Target (VolTarget) portfolio. VolTarget strategy is a recently emerged rule-based dynamic asset allocation mechanism where the portfolio’s volatility is kept under control. As a result, a typical VTPI strategy allows higher participation rates in the market due to reduced embedded option prices. In addition, controlled volatility levels eliminate the volatility spread in option pricing, one of the frequently cited reasons for OBPI strategy fall behind CPPI. The strategies are compared within the framework of the stochastic dominance theory based on numerical simulations, rather than on the restrictive assumption of the Black-Scholes type dynamics of the underlying asset. An extended comparative quantitative analysis of performances of the above investment strategies in various market scenarios and within a range of input parameter values is presented.

Keywords: CPPI, portfolio insurance, stochastic dominance, volatility target

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Authors: Frederica Pettit

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Contribution: Stakeholder involvement in CSR is essential to ensuring pro-environmental attitudes and behaviours across multi-stakeholder groups. Despite increased awareness of the benefits surrounding a collaborative approach to sustainability communications, its success is limited by difficulties engaging with active online conversations with stakeholder groups. Whilst previous research defines the effectiveness of sustainability communications; this paper contributes to knowledge through the development of a theoretical framework that explores the processes to achieving pro-environmental attitudes and behaviours in stakeholder groups. The research will also consider social media as an opportunity to communicate CSR information to all stakeholder groups. Approach: A systematic review was chosen to investigate the effectiveness of the types of sustainability communications used in the hospitality and tourism industries. The systematic review was completed using Web of Science and Scopus using the search terms “sustainab* communicat*” “effective or effectiveness,” and “hospitality or tourism,” limiting the results to peer-reviewed research. 133 abstracts were initially read, with articles being excluded for irrelevance, duplicated articles, non-empirical studies, and language. A total of 45 papers were included as part of the systematic review. 5 propositions were created based on the results of the systematic review, helping to develop a theoretical framework of the processes needed for companies to encourage pro-environmental behaviours across multi-stakeholder groups. Results: The theoretical framework developed in the paper determined the processes necessary for companies to achieve pro-environmental behaviours in stakeholders. The processes to achieving pro-environmental attitudes and behaviours are stakeholder-focused, identifying the need for communications to be specific to their targeted audience. Collaborative communications that enable stakeholders to engage with CSR information and provide feedback lead to a higher awareness of CSR shared visions and pro-environmental attitudes and behaviours. These processes should also aim to improve their relationships with stakeholders through transparency of CSR, CSR strategies that match stakeholder values and ethics whilst prioritizing sustainability as part of their job role. Alternatively, companies can prioritize pro-environmental behaviours using choice editing by mainstreaming sustainability as the only option. In recent years, there has been extensive research on social media as a viable source of sustainability communications, with benefits including direct interactions with stakeholders, the ability to enforce the authenticity of CSR activities and encouragement of pro-environmental behaviours. Despite this, there are challenges to implementing CSR, including difficulties controlling stakeholder criticisms, negative stakeholder influences and comments left on social media platforms. Conclusion: A lack of engagement with CSR information is a reoccurring reason for preventing pro-environmental attitudes and behaviours across stakeholder groups. Traditional CSR strategies contribute to this due to their inability to engage with their intended audience. Hospitality and tourism companies are improving stakeholder relationships through collaborative processes which reduce single-use plastic consumption. A collaborative approach to communications can lead to stakeholder satisfaction, leading to changes in attitudes and behaviours. Different sources of communications are accessed by different stakeholder groups, identifying the need for targeted sustainability messaging, creating benefits such as direct interactions with stakeholders, the ability to enforce the authenticity of CSR activities, and encouraging engagement with sustainability information.

Keywords: hospitality, pro-environmental attitudes and behaviours, sustainability communication, social media

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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

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Authors: Mehrdad HassanZadeh Dugoori, Iman Mohammadali Tajrishi

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Since Iran's nuclear program became public in 2002, the International Atomic Energy Agency (IAEA) has been unable to confirm Tehran's assertions that its nuclear activities are exclusively for peaceful purposes and that it has not sought to develop nuclear weapons. The United Nations Security Council has adopted six resolutions since 2006 requiring Iran to stop enriching uranium - which can be used for civilian purposes, but also to build nuclear bombs, which Iran never follow this strategy- and co-operate with the IAEA. Four resolutions have included progressively expansive sanctions to persuade Tehran to comply. The US and EU have imposed additional sanctions on Iranian oil exports and banks since 2012. In this article we reassess the sanction dimensions of Iran and the influences. Then according to the last agreement between P5+1 and Iran in 15 July 2015, we mention reconstruction strategies for oil export markets of Iran and the operational program for one million barrel of crude oil sales per day. These strategies are the conclusion of focus group and brain storming with Iran's oil and gas managers during content analysis.

Keywords: post-sanction, oil market, reconstruction, marketing, strategy

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Authors: Aimen Batool Bint-E-Rashid, Syed Muhammad Dawood Ali Shah, Muhammad Usman Farooq, Mahgul Anwar

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As the world is progressing, the needs and demands of the consumer market are also changing. Nowadays the trends of consumer purchase decisions are dependent upon multiple factors. This study aims to identify the influential impact of country of origin over the perception and devotion towards daily personal care products specifically in reference to the knowledge and awareness regarding that particular brand in Pakistan. To corroborate this study, a 30-item brand origin questionnaire has been used with 300 purchase decision makers belonging to different age groups. To illustrate this study, a model has been developed based on brand origin, brand awareness and brand loyalty. Correlation and regression analysis have been used to find out the results which conclude the findings on the perspective of Pakistan’s consumer market as that brand origin has a direct relationship with brand loyalty provided that the consumer has a positive brand awareness. Support for the fact that brand origin impacts brand loyalty through brand awareness has been presented in this study.

Keywords: brand awareness, brand loyalty, brand origin, personal care products, P&G, Unilever

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Authors: Nariman O. Kandil, Ehab K. Abou-Elkheir, Amr M. Kotb

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Effective IT governance guarantees the strategic alignment of IT and business goals, risk mitigation control, and better IT and business performance. This study seeks to examine empirically the extent of IT governance implementation within the firms listed on the Egyptian stock exchange (EGX30) and its determinants. Accordingly, 18 semi-structured interviews face to face, phone, and video-conferencing interviews using various tools (e.g., WebEx, Zoom, and Microsoft Teams) were undertaken at the interviewees’ offices in Egypt between the end of November 2019 and the end of August 2020. Results suggest that there are variances in the extent of IT Governance (ITG) implementation within the firms listed on the Egyptian stock exchange (EGX30), mainly caused by the industry type and internal and external triggers. The results also suggest that the organization size, the type of auditor, the criticality of the industry, the effective processes & KPIs, and the information intensity expertise of the CIO have a significant impact on IT governance implementation within the firms.

Keywords: effective IT governance, Egyptian market, information security, risk controls

Procedia PDF Downloads 171

Authors: Z. Giagkazoglou, D. Loukovitis, C. Gubili, A. Imsiridou

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Along with the increase in human population, demand for seafood has increased. Despite the strict labeling regulations that exist for most marketed species in the European Union, seafood substitution remains a persistent global issue. Food fraud occurs when food products are traded in a false or misleading way. Mislabeling occurs when one species is substituted and traded under the name of another, and it can be intentional or unintentional. Crustaceans are one of the most regularly consumed seafood in Greece. Shrimps, prawns, lobsters, crayfish, and crabs are considered a delicacy and can be encountered in a variety of market presentations (fresh, frozen, pre-cooked, peeled, etc.). With most of the external traits removed, products as such are susceptible to species substitution. DNA barcoding has proven to be the most accurate method for the detection of fraudulent seafood products. To our best knowledge, the DNA barcoding methodology is used for the first time in Greece, in order to investigate the labeling practices for crustacean products available in the market. A total of 100 tissue samples were collected from various retailers and markets across four Greek cities. In an effort to cover the highest range of products possible, different market presentations were targeted (fresh, frozen and cooked). Genomic DNA was extracted using the DNeasy Blood & Tissue Kit, according to the manufacturer's instructions. The mitochondrial gene selected as the target region of the analysis was the cytochrome c oxidase subunit I (COI). PCR products were purified and sequenced using an ABI 3500 Genetic Analyzer. Sequences were manually checked and edited using BioEdit software and compared against the ones available in GenBank and BOLD databases. Statistical analyses were conducted in R and PAST software. For most samples, COI amplification was successful, and species-level identification was possible. The preliminary results estimate moderate mislabeling rates (25%) in the identified samples. Mislabeling was most commonly detected in fresh products, with 50% of the samples in this category labeled incorrectly. Overall, the mislabeling rates detected by our study probably relate to some degree of unintentional misidentification, and lack of knowledge surrounding the legal designations by both retailers and consumers. For some species of crustaceans (i.e. Squila mantis) the mislabeling appears to be also affected by the local labeling practices. Across Greece, S. mantis is sold in the market under two common names, but only one is recognized by the country's legislation, and therefore any mislabeling is probably not profit-motivated. However, the substitution of the speckled shrimp (Metapenaus monoceros) for the distinct, giant river prawn (Macrobranchium rosenbergii), is a clear example of deliberate fraudulent substitution, aiming for profit. To our best knowledge, no scientific study investigating substitution and mislabeling rates in crustaceans has been conducted in Greece. For a better understanding of Greece's seafood market, similar DNA barcoding studies in other regions with increased touristic importance (e.g., the Greek islands) should be conducted. Regardless, the expansion of the list of species-specific designations for crustaceans in the country is advised.

Keywords: COI gene, food fraud, labelling control, molecular identification

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Authors: Shimaa Mahmoud Ali Ahmed, Boshra Tawfek El-Shreef

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Sustainable development has become an important concern worldwide, and climate change has become a global threat. Some of these affect how we approach environmental issues — and how we should approach them. Environmental aspects have an important impact on the built environment, that’s why knowledge about Green Building and Green Construction become a vital dimension of urban sustainable development to face the challenges of climate change. There are several levels of green buildings, from energy-efficient lighting to 100% eco-friendly construction; the concept of green buildings in Egypt is still a rare occurrence, with the concept being relatively new to the market. There are several projects on the ground that currently employing sustainable and green solutions to some extent, some of them achieve a limit of success and others fail to employ the new solutions. The market and the cost as well, are great factors. From the last century, green architecture and environmental sustainability become a famous trend that all the researchers like to follow. Nowadays, the trend towards green has shifted to housing and real estate projects. While the environmental aspects are the key to achieve green buildings, the economic benefits, and the market forces are considered as big challenges. The paper assumes that some appropriate environmental treatments could be added to the applied prototype of the governmental social housing projects in Egypt to achieve better environmental solutions. The aim of the research is to get housing projects in Egypt closer to the track of sustainable and green buildings, through making a local future proposal to be integrated into the current policies. The proposed model is based upon adding some appropriate, cheap environmental modifications to the prototype of the Ministry of Housing, Infrastructure, and New Urban Communities. The research is based on an analytical, comparative analytical, and inductive approach to study and analyze the housing projects in Egypt and the possibilities of integrating green techniques into it.

Keywords: green buildings, urban sustainability, housing projects, sustainable development goals, Egypt 2030

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Authors: Syahira Ibrahim, Herlina Abdul Rahim

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The amylose content is an essential element in determining the texture and taste of rice grains. This paper evaluates the use of VIS-SWNIRS in estimating the amylose content for seven varieties of rice grains available in the Malaysian market. Each type consists of 30 samples and all the samples are scanned using the spectroscopy to obtain a range of values between 680-1000nm. The Savitzky-Golay (SG) smoothing filter is applied to each sample’s data before the Principal Component Regression (PCR) technique is used to examine the data and produce a single value for each sample. This value is then compared with reference values obtained from the standard iodine colorimetric test in terms of its coefficient of determination, R2. Results show that this technique produced low R2 values of less than 0.50. In order to improve the result, the range should include a wavelength range of 1100-2500nm and the number of samples processed should also be increased.

Keywords: amylose content, diffuse reflectance, Malaysia rice grain, principal component regression (PCR), Visible and Shortwave near-infrared spectroscopy (VIS-SWNIRS)

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Authors: Marius Nygaard, Ona Flindall

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The Palisaden student housing project was completed in August 2013 and was, with its eight floors, Norway’s tallest timber building at the time of completion. It was the first time cross-laminated-timber (CLT) was utilized at this scale in Norway. The project was the result of a concerted effort by a newly formed management company to establish CLT as a sustainable and financially competitive alternative to conventional steel and concrete systems. The introduction of CLT onto the student housing market proved so successful that by 2017 more than 4000 individual student residences will have been built using the same model of development and construction. The aim of this paper is to identify the key factors that enabled this breakthrough for CLT. It is based on an in-depth study of a series of housing projects and the role of the management company who both instigated and enabled this shift of CLT from the margin to the mainstream. Specifically, it will look at how a new building system was integrated into a marketing strategy that identified a market potential within the existing structure of the construction industry and within the economic restrictions inherent to student housing in Norway. It will show how a key player established a project model that changed both the patterns of cooperation and the information basis for decisions. Based on qualitative semi-structured interviews with managers, contractors and the interdisciplinary teams of consultants (architects, structural engineers, acoustical experts etc.) this paper will trace the introduction, expansion and evolution of CLT-based building systems in the student housing market. It will show how the project management firm’s position in the value chain enabled them to function both as a liaison between contractor and client, and between contractor and producer. A position that allowed them to improve the flow of information. This ensured that CLT was handled on equal terms to other structural solutions in the project specifications, enabling realistic pricing and risk evaluation. Secondly, this paper will describe and discuss how the project management firm established and interacted with a growing network of contractors, architects and engineers to pool expertise and broaden the knowledge base across Norway’s regional markets. Finally, it will examine the role of the client, the building typology, and the industrial and technological factors in achieving this breakthrough for CLT in the construction industry. This paper gives an in-depth view of the progression of a single case rather than a broad description of the state of the art of large-scale timber building in Norway. However, this type of study may offer insights that are important to the understanding not only of specific markets but also of how new technologies should be introduced in big and well-established industries.

Keywords: cross-laminated-timber (CLT), industry breakthrough, student housing, timber market

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Authors: Magdi Elmessiry, Adel Elmessiry

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The fashion industry represents a significant portion of the global gross domestic product, however, it is plagued by cheap imitators that infringe on the trademarks which destroys the fashion industry's hard work and investment. While eventually the copycats would be found and stopped, the damage has already been done, sales are missed and direct and indirect jobs are lost. The infringer thrives on two main facts: the time it takes to discover them and the lack of tracking technologies that can help the consumer distinguish them. Blockchain technology is a new emerging technology that provides a distributed encrypted immutable and fault resistant ledger. Blockchain presents a ripe technology to resolve the infringement epidemic facing the fashion industry. The significance of the study is that a new approach leveraging the state of the art blockchain technology coupled with artificial intelligence is used to create a framework addressing the fashion infringement problem. It transforms the current focus on legal enforcement, which is difficult at best, to consumer awareness that is far more effective. The framework, Crypto CopyCat, creates an immutable digital asset representing the actual product to empower the customer with a near real time query system. This combination emphasizes the consumer's awareness and appreciation of the product's authenticity, while provides real time feedback to the producer regarding the fake replicas. The main findings of this study are that implementing this approach can delay the fake product penetration of the original product market, thus allowing the original product the time to take advantage of the market. The shift in the fake adoption results in reduced returns, which impedes the copycat market and moves the emphasis to the original product innovation.

Keywords: fashion, infringement, blockchain, artificial intelligence, textiles supply chain

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Authors: Hsuan Yu Lai, Hsuan Hsuan Chang

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The consumer decision process steps through problems by weighing evidence, examining alternatives, and choosing a decision path. Currently, the COVID 19 made the tourism industry encounter a huge challenge and suffer the biggest amount of economic loss. It would be very important to reexamine the decision-making process model, especially after the pandemic, and consider the differences among different generations. The tourism industry has been significantly impacted by the global outbreak of COVID-19, but as the pandemic subsides, the sector is recovering. This study addresses the scarcity of research on travel decision-making patterns among generations in Taiwan. Specifically targeting individuals who frequently traveled abroad before the pandemic, the study explores differences in decision-making at different stages post-outbreak. So this study investigates differences in travel decision-making among individuals from different generations during/after the COVID-19 pandemic and examines the moderating effects of social media usage and individuals' perception of health risks. The study hypotheses are “there are significant differences in the decision-making process including travel motivation, information searching preferences, and criteria for decision-making” and that social-media usage and health-risk perception would moderate the results of the previous study hypothesis. The X, Y, and Z generations are defined and categorized based on a literature review. The survey collected data including their social-economic background, travel behaviors, motivations, considerations for destinations, travel information searching preferences, and decision-making criteria before/after the pandemic based on the reviews of previous studies. Data from 656 online questionnaires were collected between January to May 2023 and from Taiwanese travel consumers who used to travel at least one time abroad before Covid-19. SPSS is used to analyze the data with One-Way ANOVA and Two-Way ANOVA. The analysis includes demand perception, information gathering, alternative comparison, purchase behavior, and post-travel experience sharing. Social media influence and perception of health risks are examined as moderating factors. The findings show that before the pandemic, the Y Generation preferred natural environments, while the X Generation favored historical and cultural sites compared to the Z Generation. However, after the outbreak, the Z Generation displayed a significant preference for entertainment activities. This study contributes to understanding changes in travel decision-making patterns following COVID-19 and the influence of social media and health risks. The findings have practical implications for the tourism industry.

Keywords: consumer decision-making, generation study, health risk perception, post-pandemic era, social media

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Authors: Eli Avraham

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The Arab Spring was widely covered in the global media and the number of Western tourists traveling to the area began to fall. The goal of this study was to analyze which media strategies marketers in Middle Eastern countries chose to employ in their attempts to repair the negative image of the area in the wake of the Arab Spring. Several studies were published concerning image-restoration strategies of destinations during crises around the globe; however, these strategies were not part of an overarching theory, conceptual framework or model from the fields of crisis communication and image repair. The conceptual framework used in the current study was the ‘multi-step model for altering place image’, which offers three types of strategies: source, message and audience. Three research questions were used: 1.What public relations crisis techniques and advertising campaign components were used? 2. What media policies and relationships with the international media were adopted by Arab officials? 3. Which marketing initiatives (such as cultural and sports events) were promoted? This study is based on qualitative content analysis of four types of data: 1) advertising components (slogans, visuals and text); (2) press interviews with Middle Eastern officials and marketers; (3) official media policy adopted by government decision-maker (e.g. boycotting or arresting newspeople); and (4) marketing initiatives (e.g. organizing heritage festivals and cultural events). The data was located in three channels from December 2010, when the events started, to September 31, 2013: (1) Internet and video-sharing websites: YouTube and Middle Eastern countries' national tourism board websites; (2) News reports from two international media outlets, The New York Times and Ha’aretz; these are considered quality newspapers that focus on foreign news and tend to criticize institutions; (3) Global tourism news websites: eTurbo news and ‘Cities and countries branding’. Using the ‘multi-step model for altering place image,’ the analysis reveals that Middle Eastern marketers and officials used three kinds of strategies to repair their countries' negative image: 1. Source (cooperation and media relations; complying, threatening and blocking the media; and finding alternatives to the traditional media) 2. Message (ignoring, limiting, narrowing or reducing the scale of the crisis; acknowledging the negative effect of an event’s coverage and assuring a better future; promotion of multiple facets, exhibitions and softening the ‘hard’ image; hosting spotlight sporting and cultural events; spinning liabilities into assets; geographic dissociation from the Middle East region; ridicule the existing stereotype) and 3. Audience (changing the target audience by addressing others; emphasizing similarities and relevance to specific target audience). It appears that dealing with their image problems will continue to be a challenge for officials and marketers of Middle Eastern countries until the region stabilizes and its regional conflicts are resolved.

Keywords: Arab spring, cultural events, image repair, Middle East, tourism marketing

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Authors: Mohammad Azam

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The purpose of this study is to investigate risk and real excess portfolio returns using inflation adjusted risk-free rates, a measuring technique that focuses on the momentum augmented Fama-French six-factor model and use monthly data from 1994 to 2022. With the exception of profitability, the data show that market, size, value, momentum, and investment factors are all strongly associated to excess portfolio stock returns using ordinary lease square regression technique. According to the Gibbons, Ross, and Shanken test, the momentum augmented Fama-French six-factor model outperforms the market. This technique discovery may be utilised by academics and professionals to acquire an in-depth knowledge of the Pakistan Stock Exchange across a broad stock pattern for investing decisions and portfolio construction.

Keywords: real excess portfolio returns, momentum augmented fama & french five-factor model, GRS-test, pakistan stock exchange

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Authors: Alimshan Faizulayev, Eralp Bektas, Abdul Ghafar Ismail, Bezhan Rustamov

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This paper performs empirical analysis on determinants of profitability in Islamic and Conventional Banks. The main focus of this study is to evaluate and measure of financial performance of Islamic banking firms operating in Egypt, Iran, Malaysia, Pakistan, Turkey, UAE in contrast to Conventional ones in those countries. To evaluate empirically performance of the banks, various financial ratios are employed. We measure performance in terms of liquidity, profitability, solvency, and efficiency. In this work, t-test, F-test, and OLS analysis are used to make hypothesis tests. Our findings reveal that there are similarities and differences in profitability determinants of Islamic and Conventional banking firms. The cost to revenue ratio has inverse relationship with profitability indicators in both banking systems. However, there are differences in financial performances between Conventional Banks and Islamic banks which are found in overall picture of all banks in terms of net income margin.

Keywords: Islamic banking, conventional banking, GDP growth, emerging market economies

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Authors: A. Yakub AbdurRaheem

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Urban violence in the form of ethnic and religious conflicts have been on the increase in many African cities in the recent years of which most of them are the result of intense and bitter competition for political power, the control of limited economic, social and environmental resources. In Nigeria, the emergence of the Boko Haram insurgency in most parts of the northeastern parts have ignited violence, bloodshed, refugee exodus and internal migration. Not only do the persistent attacks of the sect create widespread insecurity and fear, but it has also stifled normal processes of trade and investments most especially real property investment which is acclaimed to accelerate the economic cycle, thus the need to evolve strategies for an improved property market in such areas. This paper, therefore, examines the impact of this social crisis on effective and efficient utilization of real properties as a resource towards the development of the economy, using a descriptive analysis approach where particular emphasis was based on trends in residential housing values; volume of estimated property transactions and real estate investment decisions by affected individuals. Findings indicate that social crisis in the affected areas have been a clog on the wheels of property development and investment as properties worth hundreds of millions have been destroyed thereby having great impact on property values. Based on these findings, recommendations were made to include the need to strategically continue investing in property during such times, the need for Nigerian government to establish an active conflict monitoring and management unit for the prompt response, encourage community and neighborhood policing to ameliorate security challenges in Nigeria.

Keywords: social crisis, economy, resources, property market

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Authors: Chih-Ping Chen

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Today, technology does not necessitate change; rather, social media has afforded a new arena and digital tools for users/individuals to be symbolized and marketed in meaningful exchanges of digital identities. We argue that these symbolic interactions may afford individuals the ability to create and present less restricted Line person-to-person (P2P) chats than would be possible in face-to-face communications. Individuals can select flexible influence strategies to market themselves, which enables them to create and present their digital identities and impressions in alternative ways within a dynamic sociocultural context. Therefore, this paper aims to explore the novel phenomenon of how individuals market themselves to manage their digital identities and impressions to connect with other users through the symbolic interactions created by new digital tools (e.g., stickers). A netnographic approach was developed by applying a triangulated methodology consisting of user self-diary reports, in-depth interviews, and observations. Totally, 20 participants (10 females and 10 males) were of Taiwanese origin, and their ages ranged from 20–47 years old. The findings of this research showed that individuals on Line P2P social media where traditional cultural gender norms have shifted. Both male and female participants market their modern digital identities by adopting a combination of flexible influence tactics/strategies when using digital stickers. Some findings showed that their influence tactics/strategies often flouted Taiwanese cultural gender norms or skirted traditional rules to fit individual or P2P needs. Finally, these findings potentially contributed to the literature regarding the consumer culture theory and symbolic interaction theory in digital marketing and social media fields.

Keywords: Consumer culture theory, Digital sticker, Self-marketing, Impression, Symbolic interaciton

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Authors: V. M. Mmbengwa, J. R. M. Mabuso, C. P. Du Plooy, S. Laurrie, H. D. van Schalkwyk

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Sweet potato products are necessary for the provision of essential nutrients in every household, regardless of their poverty status. Their consumption appears to be highly influenced by socio-economic factors, such as malnutrition, food insecurity and unemployment. Therefore, market availability is crucial for these cultivars to resolve some of the socio-economic factors. The aim of the study was to investigate market availability of sweet potato cultivars in the North West Province. In this study, both qualitative and quantitative research methodologies were used. Qualitative methodology was used to explain the quantitative outcomes of the variables. On the other hand, quantitative results were used to test the hypothesis. The study used SPSS software to analyse the data. Cross-tabulation and Chi-square statistics were used to obtain the descriptive and inferential analyses, respectively. The study found that the Blesbok cultivar is dominating the markets of the North West Province, with the Monate cultivar dominating in the Bojanala Platinum (75 %) and Dr Ruth Segomotsi Mompati (25 %) districts. It is also found that a unit increase in the supply of sweet potato cultivars in both local and district municipal markets is accompanied by a reduced demand of 28 % and 33 % at district and local markets, respectively. All these results were found to be significant at p<0.05. The results further revealed that in four out of nine local municipality markets, the Blesbok cultivar seems to be solely available in those four local municipal markets of North West Province. It can be concluded that Blesbok, relative to other cultivars, is the most commercialised sweet potato variety and that consumers across this Province are highly aware of it. For other cultivars to assume market prominence in this Province, a well-designed marketing campaign for creating awareness may be required. This campaign may be based on nutritional advantages of different cultivars, of which Blesbok is relatively inferior, compared to orange-fleshed sweet potato varieties.

Keywords: cultivar, malnutrition, markets, sweet potato

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Authors: Patrick Andrew McCoy

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The intense fascination with ancient Egypt has persisted for thousands of years and across cultures globally, known popularly as Egyptomania,’ ‘Tutmania,’ ‘Mummymania,’ and ‘Orientalism. A review of the literature indicates psychological themes for its behavior are curiosity, escapism, existentialism, religiosity and spirituality, and cultural, racial, and ethnic identity. A mixed-methods study is initiated with established tools to explore these themes and discover additional motivators. Objectives: The purpose of the study is to explore the themes underlying the intense fascination of ancient Egypt. The abstract themes of the fascination of ancient Egypt are cross-cultural phenomena that motivate people in their interactions with other cultures. These interactions have both been beneficial and combative. Methodology: A mixed methods research study is designed where quantitative (QUAN) survey of participants’ strong fascination with ancient Egypt, within psychological themes derived from a review of the literature. The qualitative (QUAL) survey consists of open-ended questions to explore participants’ exposure to ancient Egypt that may have influenced their fascination and their behaviors resulting from the phenomenon. The themes are explored in QUAN data and QUAL data to discover what themes are established and inferred the psychological motivations of the phenomenon. Main Contributions: This study will provide more information on several scientific disciplines, including psychology, anthropology, Egyptology, and tourism. This study seeks to benefit the tourism industry for not only in Egypt but hopefully with generalizability of cultural tourist industries in other countries.

Keywords: cross-cultural psychology, international psychology, mixed-methods, identity, ancient Egypt, phenomenology, escapism, curiosity, existentialism, religiosity, spirituality

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Authors: Dharamvir Mangal

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Supply chain management has increasingly become an inevitable challenge to most companies to continuously survive and prosper in the global chain-based competitive environment. The current challenges of the Indian automotive world, their implications on supply chain are summarized and analyzed in this paper. In this competitive era of ‘LPG’ i.e. Liberalization, Privatization and Globalization, modern marketing systems, introduction of products with short life cycles, and the discriminating expectations of customers have enforced business enterprises to invest in and focus attention on their Supply Chains (SCs) in order to meet out the level of customer’s satisfaction and to survive in the competitive market. In fact, many of trends in the auto industry are reinforcing the need to redefine supply chain strategies layouts, and operations etc. Many manufacturing operations are designed to maximize throughput and lower costs with modest considerations for the crash on inventory levels and distribution capabilities. To improve profitability and efficiency, automotive players are seeking ways to achieve operational excellence, reduce operating cost and enhance customer service through efficient supply chain management.

Keywords: automotive industry, supply chain, challenges, market potential

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Authors: Muhamad Afiq Faisal, Yahaya, Mohd Faizal, Hamzah

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Genetic modification technology allows scientists to alter the genetic information of a particular organism. The technology allows the production of genetically modified organism (GMO) that has the enhanced property compared to the unmodified organism. The application of such technology is not only in agriculture industry, it is now has been applied extensively in biopharmaceutical industry such as transgenic vaccines. In Malaysia, Biosafety Act 2007 has been enacted in which all GMO-based products must be labeled with adequate information before being marketed. This paper aims to determine the awareness level amongst Malaysian consumers on the GM products available in the market and the efficiency of information supplied in the GM product labeling. The result of the survey will serve as a guideline for Malaysia government agency bodies to provide comprehensive yet efficient information to consumers for the purpose of GM product labeling in the near future. In conclusion, the efficiency of information delivery plays a vital role in ensuring that the information is being conveyed clearly to Malaysian consumers during the selection process of GM products available in the market.

Keywords: genetic modification technology, genetically modified organisms, genetically modified organism products labeling, Biosafety Act 2007

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Authors: Nikita Koradia

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Hyundai Motor Company, which started off as a small fish in a big sea, paved its way out successfully and established itself as an independent group from the conglomerate. Hyundai, with its officious power across the globe and particularly in South Korea in the automobile industry, has one the most complex yet fascinating governance structure. Being the second largest contributor to the Gross Domestic Product of South Korea after Samsung and having a market share of 51.3% domestically in automobile industry, Hyundai has faced its part of criticism owing to its anti-labor union approach and owing to its internalization of supply chain management. The censure has been coming from across jurisdictions like China, India, Canada, the EU, etc. The paper focuses on the growth of Hyundai and its inward and outward investment structure. The paper questions the ability of Hyundai to become a mini-state in itself by focusing on its governance structure. The paper further elaborates on its compliance and disclosure regime in the field of Corporate social responsibility and explores how far the business structure adopted by Hyundai works in its favor to become one of the leading automobile contenders in the market.

Keywords: compliance regime, disclosure regime, Hyundai motor company, supply-chain management

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Authors: Mengxin Feng, Feng Xu, Zhiyong Lai

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As a typical representative of the countryside, traditional Chinese villages are rich in cultural landscape resources and historical information, but they are still in continuous decline. The problems of people's weak protection awareness and low cultural recognition are still serious, and the protection of cultural heritage is imminent. At the same time, with the rapid development of rural tourism, its cultural value has been explored and paid attention to again. From the perspective of tourists, this study aimed to explore people's perception and identity of cultural landscape resources under the current cultural tourism development background. We selected eleven typical landscape elements of Lingshui Village, a traditional village in Beijing, as research objects and conducted a questionnaire survey with two scales of perception and identity to explore the characteristics of people's perception and identification of landscape elements. We found that there was a strong positive correlation between the perception and identity of each element and that geographical location influenced visitors' overall perception. The perception dimensions scored the highest in location, and the lowest in history and culture, and the identity dimensions scored the highest in meaning and lowest in emotion. We analyzed the impact of visitors' backgrounds on people's perception and identity characteristics and found that age and education were two important factors. The elderly had a higher degree of perceived identity, as the familiarity effect increased their attention. Highly educated tourists had more stringent criteria for perception and identification. The above findings suggest strategies for conserving and optimizing landscape elements in the traditional village to improve the acceptance and recognition of cultural information in traditional villages, which will inject new vitality into the development of traditional villages.

Keywords: traditional village, tourist perception, landscape elements, perception and identity

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Authors: Pitimanus Bunlue

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The objectives of this study were to identify the unique characteristics of Salaya Old market, Phutthamonthon, Nakhon Pathom and develop the effective video media to promote the homeland awareness among local people and the characteristic features of this community were collectively summarized based on historical data, community observation, and people’s interview. The acquired data were used to develop a media describing prominent features of the community. The quality of the media was later assessed by interviewing local people in the old market in terms of content accuracy, video, and narration qualities, and sense of homeland awareness after watching the video. The result shows a 6-minute video media containing historical data and outstanding features of this community was developed. Based on the interview, the content accuracy was good. The picture quality and the narration were very good. Most people developed a sense of homeland awareness after watching the video also as well.

Keywords: audio-visual, creating homeland awareness, Phutthamonthon Nakhon Pathom, research and development

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Authors: Carlos Tapia Cortez, Serkan Saydam, Jeff Coulton, Claude Sammut

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Strategic mineral commodities (SMC) both energetic and metals have long been fundamental for human beings. There is a strong and long-run relation between the mineral resources industry and society's evolution, with the provision of primary raw materials, becoming one of the most significant drivers of economic growth. Due to mineral resources’ relevance for the entire economy and society, an understanding of the SMC market behaviour to simulate price fluctuations has become crucial for governments and firms. For any human activity, SMC price fluctuations are affected by economic, geopolitical, environmental, technological and psychological issues, where cognition has a major role. Cognition is defined as the capacity to store information in memory, processing and decision making for problem-solving or human adaptation. Thus, it has a significant role in those systems that exhibit dynamic equilibrium through time, such as economic growth. Cognition allows not only understanding past behaviours and trends in SCM markets but also supports future expectations of demand/supply levels and prices, although speculations are unavoidable. Technological developments may also be defined as a cognitive system. Since the Industrial Revolution, technological developments have had a significant influence on SMC production costs and prices, likewise allowing co-integration between commodities and market locations. It suggests a close relation between structural breaks, technology and prices evolution. SCM prices forecasting have been commonly addressed by econometrics and Gaussian-probabilistic models. Econometrics models may incorporate the relationship between variables; however, they are statics that leads to an incomplete approach of prices evolution through time. Gaussian-probabilistic models may evolve through time; however, price fluctuations are addressed by the assumption of random behaviour and normal distribution which seems to be far from the real behaviour of both market and prices. Random fluctuation ignores the evolution of market events and the technical and temporal relation between variables, giving the illusion of controlled future events. Normal distribution underestimates price fluctuations by using restricted ranges, curtailing decisions making into a pre-established space. A proper understanding of SMC's price dynamics taking into account the historical-cognitive relation between economic, technological and psychological factors over time is fundamental in attempting to simulate prices. The aim of this paper is to discuss the SMC market cognition hypothesis and empirically demonstrate its dynamic-cognitive capacity. Three of the largest and traded SMC's: oil, copper and gold, will be assessed to examine the economic, technological and psychological cognition respectively.

Keywords: commodity price simulation, commodity price uncertainties, dynamic-cognition, dynamic systems

Procedia PDF Downloads 466