Search results for: market research

Authors: Maja Martinovic, Valentina Zarkovic, Hrvoje Maljak

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Europe is one of the most popular tourist destinations in the world, in which tourism occupies a significant place among the most relevant economic activities, and this applies to the Republic of Croatia as well. Based on this study, the authors intended to encourage and support the creation of an effective tourism policy in Croatia that would be based on the profiling of certain target groups. Another objective was to compare the results obtained from the customer analysis with the market analysis of the tourism industry in Croatia. The objective is to adapt the current tourist offer according to the identified needs and expectations of a particular tourist group in order to increase the attractiveness of Croatia as a tourist destination and motivate greater attendance of the targeted tourist groups. The current research was oriented towards the Russian market as the target group. Therefore, the authors wanted to encourage a discussion on how to attract more Russian guests. Consequently, the intention of the research was a detailed analysis of Russian tourists, in order to gain a better understanding of their travelling motives and tendencies. Furthermore, attention was paid to the expectations of Russian customers and to compare them with the Croatian tourist offer, and to determine whether there is a possibility for an overlap. The method used to obtain the information required was a survey conducted among Russian citizens about their travelling habits. The research was carried out on the basis of 166 participants of different age, gender, profession and income group. The sampling and distribution of the survey took place between May and July 2016. The results provided from the research indicate that Croatian tourism has certain unrealized potential considering the popularization of Croatia as a tourist destination, and there is a capacity for increasing the revenues within the group of Russian tourists. Such a conclusion is based on the fact that the Croatian tourist offer and the preferences of the Russian guests are compatible, i.e. they overlap in many aspects. The results demonstrate that beautiful nature, cultural and historical heritage as well as the sun and sea, play a leading role in attracting more Russian tourists. It is precisely these elements that form the three pillars of the Croatian tourist offer. On the other hand, the profiling revealed that the most desirable destinations for the Russian guests are Italy and Spain, both of which provide the same main tourist attractions as Croatia. Therefore, the focus of the strategic ideas given in the paper shifted to other tourism segments, such as type of accommodation, sales channels, travel motives, additional offer and seasonality etc., in order to gain advantage in the Russian market, the Mediterranean region and tourism in general. The purpose of the research is to serve as a foundation for analysing the attractiveness of the other tourist destinations in the Russian market, as well as to be a general basis for a more detailed profiling of the various specific target groups of the Russian and other tourist groups.

Keywords: Croatia, Russian market, target groups, tourism, tourist destination

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Authors: Petra Buzkova, Milos Kopa

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Reliability of the credit default swap market had been questioned repeatedly during the EMU debt crisis. The article examines whether this development influenced sovereign EMU CDS prices in general. We regress the CDS market price on a model risk neutral CDS price obtained from an adopted reduced form valuation model in the 2009-2013 period. We look for a break point in the single-equation and multi-equation econometric models in order to show the changes in relations between CDS market and model prices. Our results differ according to the risk profile of a country. We find that in the case of riskier countries, the relationship between the market and model price changed when market participants started to question the ability of CDS contracts to protect their buyers. Specifically, it weakened after the change. In the case of less risky countries, the change happened earlier and the effect of a weakened relationship is not observed.

Keywords: chow stability test, credit default swap, debt crisis, reduced form valuation model, seemingly unrelated regression

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Authors: Mohammed Ibrahim Girei

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Adamawa state is one the major producers of both crop and animals in Nigeria. Agricultural production serves as the major means livelihood of the people in the state. However, the agricultural activities of the farmers in the state are at subsistence level. However integration of these small scale farmers in local, national and international market is paramount importance. The paper was designed to categorize farmers based on market participation among the cattle farmers in Adamawa state, Nigeria. The multistage sampling procedure was employed. To achieve this procedure, structured questionnaires were used to collect data from 400 respondents. The data were analyzed using the descriptive statistics. The result revealed that the majority of market participants were net sellers (78.51 %) (Sales greater than purchase), net buyers were (purchase greater than sales) 12.95 % and only 9% were autarkic (sales equal purchase). The study recommends that Government should provide more effective security services in cattle farming communities, which is very important as the market participants in the study area were net sellers (producers), it will help in addressing the problem of cattle rustling and promote more investment in cattle industry. There is a need to establish a standard cattle market, veterinary services and grazing reserves in the area so that to facilitate the cattle production and marketing system in the area and to meet up with the challenging of livestock development as a result of rapid human population growth in developing countries like Nigeria.

Keywords: categories, cattle, farmers, market, participation

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Authors: Qiang Ren

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A growing number of states are improving domestic law to better protect and promote foreign investment by changing/upgrading the existing law. However, inconsistency occurs because the new law is different from the ‘old’ law. For example, China has issued an unprecedented Foreign Investment Law and several regulations allowing comprehensive market access for foreign investment in most energy sectors since 2020. However, some laws, rules, regulations, etc. enacted previously remain valid, and the provisions regulating foreign investment do not grant full market access to foreign investment as such. The inconsistency above makes it necessary to investigatehow the international investment treaty law and dispute settlement practice respond to the ‘inconsistency and conflict’ in municipal law andwhat remedy foreign investors can seek under international law if the investment is denied due to inconsistency. Ultimately, it aims to examine how international tribunals should balance the gradually developing legal system of host states and the protection of foreign investors and investments if the host states cannot provide consistency during such a transition period of law development. The research seeks to answer these questions by making a comparative analysis of domestic law on market access to foreign investment, international investment treaties, and dispute arbitral practice. The objective is to examine how international investment treaty law and international investment dispute settlement practice evaluate the conflicts in the municipal law of host states in the admission of foreign investment. It also explores the possibility of harmonisation among them.

Keywords: municipal law, protect and promote foreign investment, international law, host states

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Authors: Ahmad Haidar

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Modern economic systems are characterized by growing complexity, and addressing their challenges requires innovative approaches. This study examines the implications of artificial intelligence (AI) on unemployment in Europe from a macroeconomic perspective, employing data modeling techniques to understand the relationship between AI integration and labor market dynamics. To understand the AI-unemployment nexus comprehensively, this research considers factors such as sector-specific AI adoption, skill requirements, workforce demographics, and geographical disparities. The study utilizes a panel data model, incorporating data from European countries over the last two decades, to explore the potential short-term and long-term effects of AI implementation on unemployment rates. In addition to investigating the direct impact of AI on unemployment, the study also delves into the potential indirect effects and spillover consequences. It considers how AI-driven productivity improvements and cost reductions might influence economic growth and, in turn, labor market outcomes. Furthermore, it assesses the potential for AI-induced changes in industrial structures to affect job displacement and creation. The research also highlights the importance of policy responses in mitigating potential negative consequences of AI adoption on unemployment. It emphasizes the need for targeted interventions such as skill development programs, labor market regulations, and social safety nets to enable a smooth transition for workers affected by AI-related job displacement. Additionally, the study explores the potential role of AI in informing and transforming policy-making to ensure more effective and agile responses to labor market challenges. In conclusion, this study provides a comprehensive analysis of the macroeconomic implications of AI on unemployment in Europe, highlighting the importance of understanding the nuanced relationships between AI adoption, economic growth, and labor market outcomes. By shedding light on these relationships, the study contributes valuable insights for policymakers, educators, and researchers, enabling them to make informed decisions in navigating the complex landscape of AI-driven economic transformation.

Keywords: artificial intelligence, unemployment, macroeconomic analysis, european labor market

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Authors: Rute Abreu, Fátima David, Liliane Cristina Segura

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The Deposit Guarantee Fund (DGF) and its communication with the Society, in general, and with the deposit client of Financial Institutions, in particular, is discussed through the challenges of the accounting and financial report. The Bank of Portugal promotes the Portuguese Deposit Guarantee Fund (PDGF) as a financial institution that enhanced the market confidence and stability on the deposit-insurance system. Due to the nature of their functions, it must be subject to regulation and supervision that provides a first line of defense against adversely affect confidence on the Portuguese financial market. First, this research provides evidence of the effectiveness of the protection mechanisms on the deposit insurance system, which provides high and equal protection to all stakeholders. Second, it emphasizes the need of requirements of rigorous accounting process and effective financial report to reduce the moral hazard implications. Third, this research focuses on the need of total disclosure of the financial information which gives higher transparency and protection to deposit client of financial institutions.

Keywords: deposit guarantee fund, Portugal, accounting, financial report

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Authors: Saeidreza Radpour, Md. Ahiduzzaman, Amit Kumar

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Alberta’s mining sector consumed 871.3 PJ in 2012, which is 67.1% of the energy consumed in the industry sector and about 40% of all the energy consumed in the province of Alberta. Natural gas, petroleum products, and electricity supplied 55.9%, 20.8%, and 7.7%, respectively, of the total energy use in this sector. Oil sands mining and upgrading to crude oil make up most of the mining energy sector activities in Alberta. Crude oil is produced from the oil sands either by in situ methods or by the mining and extraction of bitumen from oil sands ore. In this research, the factors affecting oil sands production have been assessed and a framework has been developed for market penetration of new efficient technologies in this sector. Oil sands production amount is a complex function of many different factors, broadly categorized into technical, economic, political, and global clusters. The results of developed and implemented statistical analysis in this research show that the importance of key factors affecting on oil sands production in Alberta is ranked as: Global energy consumption (94% consistency), Global crude oil price (86% consistency), and Crude oil export (80% consistency). A framework for modeling oil sands energy technologies’ market penetration (OSETMP) has been developed to cover related technical, economic and environmental factors in this sector. It has been assumed that the impact of political and social constraints is reflected in the model by changes of global oil price or crude oil price in Canada. The market share of novel in situ mining technologies with low energy and water use are assessed and calculated in the market penetration framework include: 1) Partial upgrading, 2) Liquid addition to steam to enhance recovery (LASER), 3) Solvent-assisted process (SAP), also called solvent-cyclic steam-assisted gravity drainage (SC-SAGD), 4) Cyclic solvent, 5) Heated solvent, 6) Wedge well, 7) Enhanced modified steam and Gas push (emsagp), 8) Electro-thermal dynamic stripping process (ET-DSP), 9) Harris electro-magnetic heating applications (EMHA), 10) Paraffin froth separation. The results of the study will show the penetration profile of these technologies over a long term planning horizon.

Keywords: appliances efficiency improvement, diffusion models, market penetration, residential sector

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Authors: Vidya Nimkar Tayade

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Introduction: Intellectual capital of an organization is a key factor to success. Many companies invest a huge amount in their Research and development activities. Any innovation is helpful not only to that particular company but also to many other companies, industry and mankind as a whole. Companies undertake innovative changes for increasing their capital profitability and indirectly increase in pay packages of their employees. The quality of human capital can also improve due to such positive changes. Employees become more skilled and experienced due to such innovations and inventions. For increasing intangible capital, the author has referred to a couple of books and referred case studies to come to a conclusion. Different charts and tables are also referred to by the author. Case studies are more important because they are proven and established techniques. They enable students to apply theoretical concepts in real-world situations. It gives solutions to an open-ended problem with multiple potential solutions. There are three different strategies for undertaking intellectual capital increase. They are: Research push strategy/ Technology pushed approach, Market pull strategy/ approach and Open innovation strategy/approach. Research push strategy, In this strategy, research is undertaken and innovation is achieved on its own. After invention inventor company protects such invention and finds buyers for such invention. In this way, the invention is pushed into the market. In this method, research and development are undertaken first and the outcome of this research is commercialized. Market pull strategy, In this strategy, commercial opportunities are identified first and our research is concentrated in that particular area. For solving a particular problem, research is undertaken. It becomes easier to commercialize this type of invention. Because what is the problem is identified first and in that direction, research and development activities are carried on. Open invention strategy, In this type of research, more than one company enters into an agreement of research. The benefits of the outcome of this research will be shared by both companies. Internal and external ideas and technologies are involved. These ideas are coordinated and then they are commercialized. Due to globalization, people from the outside company are also invited to undertake research and development activities. Remuneration of employees of both the companies can increase and the benefit of commercialization of such invention is also shared by both the companies. Conclusion: In modern days, not only can tangible assets be commercialized, but also intangible assets can also be commercialized. The benefits of such an invention can be shared by more than one company. Competition can become more meaningful. Pay packages of employees can improve. It Is a need for time to adopt such strategies to benefit employees, competitors, stakeholders.

Keywords: innovation, protection, management, commercialization

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Authors: Khizar Z. Choudhrya, Richard Coles, Salman Qureshi, Robert Ashford, Salim Khan, Rabia R. Mir

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Abstract: The majority of existing landscape research has been derived by conducting heuristic evaluations, without having empirical insight of real participant visual response. In this research, a modern multimodal measurement approach (using narratives and eye tracking) was applied to investigate visual behaviour in perceiving naturalistic and urban environments. This research is unique in exploring gaze behaviour on environmental images possessing different levels of saliency. Eye behaviour is predominantly attracted by salient locations. The concept of methodology of this research on naturalistic and urban environments is drawn from the approaches in market research. Borrowing methodologies from market research that examine visual responses and qualities provided a critical and hitherto unexplored approach. This research has been conducted by using mixed methodological quantitative and qualitative approaches. On the whole, the results of this research corroborated existing landscape research findings, but they also identified potential refinements. The research contributes both methodologically and empirically to human-environment interaction (HEI). This study focused on initial impressions of environmental images with the help of eye tracking. Taking under consideration the importance of the image, this study explored the factors that influence initial fixations in relation to expectations and preferences. In terms of key findings of this research it is noticed that each participant has his own unique navigation style while surfing through different elements of landscape images. This individual navigation style is given the name of ‘visual signature’. This study adds the necessary clarity that would complete the picture and bring an insight for future landscape researchers.

Keywords: human-environment interaction (HEI), multimodal measurement, narratives, eye tracking

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Authors: Donald Zullick, Cihan Varol

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This research paper begins with a look at current work in business continuity as it relates to the cloud and small to medium business (SMB). While cloud services are an emerging paradigm that is quickly making an impact on business, there has been no substantive research applied to SMB. Seeing this lapse, we have taken a fusion of continuity and cloud research with application to the SMB market. It is an initial reflection with base framework guidelines as a starting point for implementation. In this approach, our research ties together existing work and fill the gap with an SMB outlook.

Keywords: business continuity, cloud services, medium size business, risk assessment, small business

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Authors: Maléne Maria Magdalena Campbell, Jeremiah Mholo

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Low-income households earning less than 3,500 ZAR (about 175 GBP) per month can apply to the South African government, through the National Housing Subsidy, for fully subsidised houses. An objective of this subsidy is to enable low-income households’ participation in the formal housing market; however, the beneficiaries received houses without title deeds. As such, if the beneficiaries did not have a secured tenure at the time of their death then surviving family may face possible eviction. Therefore, an aim of this research was to determine how these beneficiaries interpret tenure security. The research focused on government subsidised housing in the Dithlake settlement of a rural hamlet named Koffiefontein, in the Letsemeng Local Municipality of South Africa. Quantitative data on the beneficiaries were collected from the local municipality, while qualitative data were collected from a sample of 45 beneficiaries.

Keywords: low-income families, subsidised housing, titling, housing market

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Authors: Akshata Patel, Reenu Singh

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This paper focuses on current and upcoming fashion trends and global impact on the fashion industry due to the COVID-19 pandemic. The pandemic has had a major impact on the fashion industry worldwide. At the same time, the fashion market also faces challenges in consumer demand. As the supply chain and distribution channels are interconnected, this outbreak has a global impact due to travel restrictions and raw materials shortages. Given that this particular period represents an unprecedented market situation with almost no prior research on how the industry will recover from such a crisis and mold back to its original form, this research aims to propose new possibilities by evaluating the framework of specific segments. Based on the analysis and extensive literature review, the study develops a conceptual model that will illustrate the various connections among the different segments of the fashion industry. The findings provide actionable considerations for fashion industry pupils when implementing appropriate strategies to prevent unfavourable outcomes during times of crisis, such as the COVID-19 outbreak.

Keywords: COVID-19, fashion industry, global impact, new possibilities, pandemic

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Authors: Bhawat Chiamjinnawat

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The agri-food market transformation has implied market growth for the fruit industry in Thailand. This article focuses on analysis of farmer competence and farm resources which affect market strategies used by fruit farmers in Chanthaburi province of Thailand. The survey data were collected through the use of face-to-face interviews with structured questionnaires. This study identified 14 drivers related to farmer competence and farm resources of which some had significant effect on the decision to use either high-value markets or traditional markets. The results suggest that farmers who used high-value markets were better educated and they had longer experience and larger sized business. Identifying the important factors that match with the market transformation provides policy with opportunities to support the fruit farmers to increase their market power. Policies that promote business expansion of agricultural cooperatives and knowledge sharing among farmers are recommended to reduce limitations due to limited knowledge, low experience, and small business sizes.

Keywords: farmer competence, farm resources, fruit industry, high-value markets, Thailand

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Authors: Pia Moschall, Kathrin Sackmann

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Considering a purchasing volume of around two trillion Euros per year, which equals about 14% of the European Union’s gross domestic product, European public authorities have significant market power. Making use of this market power by prioritizing the procurement of green products and services offers a great potential to contribute to the Green New Deal. The market demand that is created by Green Public Procurement (GPP) sets incentives for European producers to design and develop Green Products and Eco-Innovations. However, most procurement still does not consider environmental criteria. The goal of the work is to encourage the adaptation of GPP in the European Union. To this end, the drivers for the adaptation were investigated over different case studies. The paper analyzes good-practice cases from European authorities from 2010 to 2020 that were provided by the European Commission. This analysis was guided by Philipp Mayring’s method of qualitative content analysis, whereby the inductively formed categories led to the identification of nine major drivers. The most important ones are ‘use of official guidelines and standards, ‘political support and requirements as well as ‘market research and involvement.’ Further, the paper discusses mutual dependencies between several drivers and how to exploit them. A supporting infrastructure was identified as a crucial factor for the successful adaption of green public procurement. In the next step, the work aims to examine on which administrative level the single drivers can be implemented most effectively. Practical implications of this research are recommendations on how to create a supporting structure on a municipal, federal and national level, including training for the responsible staff, support tools, as well as guidelines and standards for involved stakeholders.

Keywords: content analysis, green public procurement, public authorities, sustainable procurement

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Authors: Juliana Osman, David Gilbert, Caroline Tan

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Innovation capability is recognized as a critical factor that contributes to promoting firm growth and wealth creation. While studies on innovation are in abundance, few empirical studies have been undertaken to examine the relationships of intellectual capital with innovation capability, and research investigating the combinations of strategic orientation dimensions is limited and virtually nothing in regard to the Malaysian context. This research investigates the impact of intellectual capital and three strategic orientations on the innovation capability and firm performance of Malaysian ICT SMEs. Data was collected from 213 firms relating to intellectual capital and the three strategic orientations; market orientation, learning orientation and technology orientation. Using partial least squares structural equation modelling (PLS-SEM) to analyse the data, results indicate that while market orientation has a direct negative relationship to firm performance, it is positively related to performance through the mediating effect of innovation capability. Learning orientation and technology orientation are mediated by innovation capability, while intellectual capital was found to be partially mediated by innovation capability. Findings indicate that firm performance is positively and significantly related to innovation capability and that market orientation, learning orientation, technology orientation and intellectual capital are all significant and positively related to innovation capability. The developed model indicates that Malaysian ICT SMEs would perform better with greater emphasis on developing innovation capability through enhancement of intellectual capital and the strategic orientations measured in this study.

Keywords: innovation capability, intellectual capital, strategic orientations, PLS-SEM

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Authors: Marin Mandić, Elis Sutlović, Tonći Modrić, Luka Stanić

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With the restructuring and deregulation of the power system, storage owners, generation companies or private producers can offer their multiple services on various power markets and earn income in different types of markets, such as the day-ahead, real-time, ancillary services market, etc. During the COVID-19 pandemic, electricity prices, as well as ancillary services prices, increased significantly. The optimization of the energy storage operation was performed using a suitable model for simulating the operation of a pumped storage hydropower plant under market conditions. The objective function maximizes the income earned through energy arbitration, regulation-up, regulation-down and spinning reserve services. The optimization technique used for solving the objective function is mixed integer linear programming (MILP). In numerical examples, the pumped storage hydropower plant operation has been optimized considering the already achieved hourly electricity market prices from Nord Pool for the pre-pandemic (2019) and the pandemic (2020 and 2021) years. The impact of the electricity market prices during the COVID-19 pandemic on energy storage operation is shown through the analysis of income, operating hours, reserved capacity and consumed energy for each service. The results indicate the role of energy storage during a significant fluctuation in electricity and services prices.

Keywords: electrical market prices, electricity market, energy storage optimization, mixed integer linear programming (MILP) optimization

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Authors: Adeolu O. Dairo

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Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.

Keywords: geospatial, geo-analytics, self-organizing map, customer-centric

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Authors: Trisiladi Supriyanto

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

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

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Authors: Hammad Riaz, Abubakr Saeed

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

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

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Authors: D. Tloczynski

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

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

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Authors: Alexander Marx

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

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

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Authors: Athena Johnson

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Veganism has seen a rapid increase in members over recent years. Understanding the mechanisms of social change associated with these dietary practices in relation to gender is significant as these groups may seem small, but they have a large impact as they influence many and change the food market. This research article's basic methodology is primarily a deep article research literature review with empirical research. The research findings show that the popularity of veganism is growing, in large part due to the extensive use of social media, which dispels longstanding gendered connotations with food, such as the correlations between meat and masculinity.

Keywords: diversity, gender roles, social media, veganism

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Authors: Li-hsing Shih, Wei-Jen Hsu

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Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

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Authors: Chaiwat Kongsom, Vitoon Panyakul

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

Keywords: certified organic products, production, market, Thailand

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Authors: Carlo Gozzelino

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

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

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Authors: Joanna Smoluk-Sikorska, Władysława Łuczka

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Organic farming is an important element of sustainable agriculture. It has been developing very dynamically in Poland, especially since Poland’s accession to the EU. Nevertheless, properly functioning organic market is a necessary condition justifying development of organic agriculture. Despite significant improvement, this market in Poland is still in the initial stage of growth. An important element of the market is distribution, especially retail, which offers specified product range to consumers. Therefore, there is a need to investigate retail outlets offering organic food in order to improve functioning of this part of the market. The inquiry research conducted in three types of outlets offering organic food, between 2011 and 2012 in the 8 largest Polish cities, shows that the majority of outlets offer cereals, processed fruit and vegetables as well as spices and the least shops – meat and sausages. The distributors mostly indicate unsatisfactory product range of suppliers as the reason for this situation. The main providers of the outlets are wholesalers, particularly in case of processed products, and in fresh products – organic farms. A very important distribution obstacle is dispersion of producers, which generates high transportation costs and what follows that, high price of organics. In the investigated shops, the most often used price calculation method is a cost method. The majority of the groceries and specialist shops apply margins between 21 and 40%. The margin in specialist outlets is the highest, in regard to the qualified service and advice. In turn, most retail networks declare the margin between 0 and 20%, which is consistent with low-price strategy applied in these shops. Some lacks in the product range of organics and in particular high prices cause that the demand volume is rather low. Therefore there is a need to support certain market actions, e.g. on-farm processing or promotion.

Keywords: organic food, retail, product range, supply sources

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Authors: Bita Mashayekhi, Azadeh Maddahi, Arash Tahriri

Abstract:

The purpose of this paper is developing a model for audit quality, with regard to the contextual and environmental attributes of the audit profession in Iran. For this purpose, using an exploratory approach, and because of the special attributes of the auditing profession in Iran in terms of the legal environment, regulatory and supervisory mechanisms, audit firms size, and etc., we used grounded theory approach as a qualitative research method. Therefore, we got the opinions of the experts in the auditing and capital market areas through unstructured interviews. As a result, the authors revealed the determinants of audit quality, and by using these determinants, developed an Integrated Audit Quality Model, including causal conditions, intervening conditions, context, as well as action strategies related to AQ and their consequences. In this research, audit quality is studied using a systemic approach. According to this approach, the quality of inputs, processes, and outputs of auditing determines the quality of auditing, therefore, the quality of all different parts of this system is considered.

Keywords: audit quality, integrated audit quality model, demand for audit service, supply of audit, grounded theory

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Authors: Vithaya Intaraphimol

Abstract:

This research investigates the effect of financial accounting information and non-financial accounting reports on corporate credibility via strength of board of directors and market environment volatility as moderating effect. Data in this research is collected by questionnaire form non-financial companies listed on the Stock Exchange of Thailand. Multiple regression statistic technique is chosen for analyzing the data. The empirical results find that firms with greater financial accounting information reports and non-financial accounting information reports will gain greater corporate credibility. Therefore, the corporate reporting has the value for the firms. Moreover, the strength of board of directors will positively moderate the financial and non-financial accounting information reports and corporate credibility relationship. Whereas, market environment volatility will negatively moderate the financial and nonfinancial accounting information reports and corporate credibility relationship.

Keywords: corporate credibility, financial and non-financial reports, firms performance, economics

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Authors: Okupe Temitope Oluwaseun

Abstract:

Purpose: The paper determines the existing position of attitudes to disability in a Nigerian organisation. It further assessed the progress that has been made in relation to employment matters as an indication of the Nigerian employment market. Design/methodology/approach: The paper discusses an investigative study which adopted survey research-based approach involving a Nigerian Management Agency. Findings: The paper finds that, although there have been some steps forward, not much has been done with regard to disability equality in the Nigerian employment market. Lack of education, lack of implementing and enforcing the law, inadequate awareness process and international culture have contributed to the current situation. International culture, in particular, is one of the major attributes to lack of disability equality. For example, in the rural areas, the majority of people believe that disability is a form of witchcraft. This paper argues that these traditions, attitudes, and beliefs make it difficult for an organisation to recruit people with disability. Practical Implications: This paper provides a deeper understanding of how organisations can address attitudes to disability within the workplace in Nigeria. The research findings give a fresher perspective on some of the issues associated with disability in this country. This increased understanding has potential to improve the education and training of staff in this area. Originality/value: A paper which human resources managers in Nigerian organisation and the rest of the world can reflect upon in order to assess their own organisation attitudes to the employment of staff with a disability.

Keywords: disability, international culture, Nigeria, attitudes

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

Abstract:

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

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

Procedia PDF Downloads 136