Search results for: niche market
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3327

Search results for: niche market

3327 Exploring the Possibility of Islamic Banking as a Viable Alternative to the Conventional Banking Model

Authors: Lavan Vickneson

Abstract:

In today’s modern economy, the conventional banking model is the primary banking system used around the world. A significant problem faced by the conventional banking model is the recurring nature of banking crises. History’s record of the various banking crises, ranging from the Great Depression to the 2008 subprime mortgage crisis, is testament to the fact that banking crises continue to strike despite the preventive measures in place, such as bank’s minimum capital requirements and deposit guarantee schemes. If banking crises continue to occur despite these preventive measures, it necessarily follows that there are inherent flaws with the conventional banking model itself. In light of this, a possible alternative banking model to the conventional banking model is Islamic banking. To date, Islamic banking has been a niche market, predominantly serving Muslim investors. This paper seeks to explore the possibility of Islamic banking being more than just a niche market and playing a greater role in banking sectors around the world, by being a viable alternative to the conventional banking model.

Keywords: bank crises, conventional banking model, Islamic banking, niche market

Procedia PDF Downloads 240
3326 Hominin Niche in the Times of Climate Change

Authors: Emilia Hunt, Sally C. Reynolds, Fiona Coward, Fabio Parracho Silva, Philip Hopley

Abstract:

Ecological niche modeling is widely used in conservation studies, but application to the extinct hominin species is a relatively new approach. Being able to understand what ecological niches were occupied by respective hominin species provides a new perspective into influences on evolutionary processes. Niche separation or overlap can tell us more about specific requirements of the species within the given timeframe. Many of the ancestral species lived through enormous climate changes: glacial and interglacial periods, changes in rainfall, leading to desertification or flooding of regions and displayed impressive levels of adaptation necessary for their survival. This paper reviews niche modeling methodologies and their application to hominin studies. Traditional conservation methods might not be directly applicable to extinct species and are not comparable to hominins. Hominin niche also includes aspects of technologies, use of fire and extended communication, which are not traditionally used in building conservation models. Future perspectives on how to improve niche modeling for extinct hominin species will be discussed.

Keywords: hominin niche, climate change, evolution, adaptation, ecological niche modelling

Procedia PDF Downloads 153
3325 Niche Authorities and Social Activism: Interrogating the Activities of Selected Bloggers in Ghana

Authors: Akosua Asantewaa Anane

Abstract:

Social media and its networking sites have become beneficial to society. With the advent of Web 2.0, many people are becoming technologically savvy and attracted to internet-based activities. With the click of a button, users are now sharing more information on topics, events and issues than before. A new phenomenon in the Ghanaian journalism sphere is the advent of blogger and citizen journalism, some of whom have become niche authorities. Niche authorities have emerged through the habitual and persistent curation of news on specific topics, resulting in the steady growth and emergence of valuable contributions to news sharing. Minimal studies have been conducted on niche authorities and their role in social activism in Ghana. This study, anchored on Cialdini’s Six Principles of Persuasion (reciprocation, consistency, social proof, liking, authority and scarcity), explores the features of niche authorities, their areas of expertise, as well as their authoritative voices in the curation of news stories. Using qualitative content analysis, cyber ethnography and thematic analysis of purposively sampled social media posts of five niche authorities, the study interrogates how these niche authorities employ the six principles of persuasion on their platforms to spark conversations on development, social inclusion and gender-based issues in the country. The study discusses how niche authorities deploy the principles in social activism and further recommends nurturing and mentoring communication strategies to progressively guide the youth to become future niche authorities in news curation and news sharing.

Keywords: social activism, cialdini’s six principles of persuasion, news curation, niche authorities

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3324 Second Order Journalism: A Study of Selected Niche Authorities on Facebook and Twitter

Authors: Yvonne Dedzo

Abstract:

Social media has become a powerful tool in bridging the distance between individuals regardless of their location. It has become a convenient platform for public discussion and, consequently, generated the phenomenon of citizen journalists who have become both proactive and reactive participants in the dissemination of news, information and other epochal and historical events. This phenomenon has fueled the growth of niche authorities who deliver exceptional democratically consequential information online. This study, therefore, investigates how some selected niche authorities maintain their status on social media. Using the selective processes theory, the study further interrogates the information shared by niche authorities and further analyses the extent to which a public interest-altruistic motive or personal interest-self-serving motive drives their agenda of new sharing and usage. Through cyber-ethnography and, qualitative content analysis and semi-structured interviews, data was gathered and analysed from the posts of two purposely selected niche authorities on Facebook and Twitter. The findings indicate that niche authorities maintain their status by being consistent, prompt, informative, resourceful and interactive in their postings on the social media platform. The study also discovered that even though niche authorities are motivated by both public interest-altruism and interest-self-serving, the latter had a higher of motivation than the former.

Keywords: social medida, citizen journalist, niche authorities, selective processes theory

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3323 Comparative Analysis of Medical Tourism Industry among Key Nations in Southeast Asia

Authors: Nur A. Azmi, Suseela D. Chandran, Fadilah Puteh, Azizan Zainuddin

Abstract:

Medical tourism has been associated as a global phenomenon in developed and developing countries in the 21st century. Medical tourism is defined as an activity in which individuals who travel from one country to another country to seek or receive medical healthcare. Based on the global trend, the number of medical tourists is increasing annually, especially in the Southeast Asia (SEA) region. Since the establishment of Association of Southeast Asian Nations (ASEAN) in 1967, the SEA nations have worked towards regional integration in medical tourism. The medical tourism in the SEA has become the third-largest sector that contributes towards economic development. Previous research has demonstrated several factors that affect the development of medical tourism. However, despite the already published literature on SEA's medical tourism in the last ten years there continues to be a scarcity of research on niche areas each of the SEA countries. Hence, this paper is significant in enriching the literature in the field of medical tourism particularly in showcasing the niche market of medical tourism among the SEA best players namely Singapore, Thailand, Malaysia and Indonesia. This paper also contributes in offering a comparative analysis between the said nations whether they are complementing or competing with each other in the medical tourism sector. This then, will increase the availability of information in SEA region on medical tourism. The data was collected through an in-depth interview with various stakeholders and private hospitals. The data was then analyzed using two approaches namely thematic analysis (interview data) and document analysis (secondary data). The paper concludes by arguing that the ASEAN countries have specific niche market to promote their medical tourism industry. This paper also concludes that these key nations complement each other in the industry. In addition, the medical tourism sector in SEA region offers greater prospects for market development and expansion that witnessed the emerging of new key players from other nations.

Keywords: healthcare services, medical tourism, medical tourists, SEA region, comparative analysis

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3322 Homogeneity among Diversity

Authors: Yu Guang

Abstract:

“Case studies are the preferred strategy when ‘how’ or ‘why’ questions are being posed.” Therefore, the study is based on two cases: strategy performed in JingNan War and by NIKE. The two samples are chosen as they are of comparability. Data are gathered and PEST and SWOT are used as analysis models to examine their strategic employment in order that the answer to brilliant strategies in variety is found. The niche strategy has been used in the past and present, in the battle fields and business. The homogeneity among diversity is the skill of performing strategies.

Keywords: challenger, homogeneity, managing diversity, niche strategy

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3321 Precursor Muscle Cell’s Phenotype under Compression in a Biomimetic Mechanical Niche

Authors: Fatemeh Abbasi, Arne Hofemeier, Timo Betz

Abstract:

Muscle growth and regeneration critically depend on satellite cells (SCs) which are muscle stem cells located between the basal lamina and myofibres. Upon damage, SCs become activated, enter the cell cycle, and give rise to myoblasts that form new myofibres, while a sub-population self-renew and re-populate the muscle stem cell niche. In aged muscle as well as in certain muscle diseases such as muscular dystrophy, some of the SCs lose their regenerative ability. Although it is demonstrated that the chemical composition of SCs quiescent niche is different from the activated niche, the mechanism initially activated in the SCs remains unknown. While extensive research efforts focused on potential chemical activation, no such factor has been identified to the author’s best knowledge. However, it is substantiated that niche mechanics affects SCs behaviors, such as stemness and engraftment. We hypothesize that mechanical stress in the healthy niche (homeostasis) is different from the regenerative niche and that this difference could serve as an early signal activating SCs upon fiber damage. To investigate this hypothesis, we develop a biomimetic system to reconstitute both, the mechanical and the chemical environment of the SC niche. Cells will be confined between two elastic polyacrylamide (PAA) hydrogels with controlled elastic moduli and functionalized surface chemistry. By controlling the distance between the PAA hydrogel surfaces, we vary the compression forces exerted by the substrates on the cells, while the lateral displacement of the upper hydrogel will create controlled shear forces. To establish such a system, a simplified system is presented. We engineered a sandwich-like configuration of two elastic PAA layer with stiffnesses between 1 and 10 kPa and confined a precursor myoblast cell line (C2C12) in between these layers. Our initial observations in this sandwich model indicate that C2C12 cells show different behaviors under mechanical compression if compared to a control one-layer gel without compression. Interestingly, this behavior is stiffness-dependent. While the shape of C2C12 cells in the sandwich consisting of two stiff (10 kPa) layers was much more elongated, showing almost a neuronal phenotype, the cell shape in a sandwich situation consisting of one stiff and one soft (1 kPa) layer was more spherical. Surprisingly, even in proliferation medium and at very low cell density, the sandwich situation stimulated cell differentiation with increased striation and myofibre formation. Such behavior is commonly found for confluent cells in differentiation medium. These results suggest that mechanical changes in stiffness and applied pressure might be a relevant stimulation for changes in muscle cell behavior.

Keywords: C2C12 cells, compression, force, satellite cells, skeletal muscle

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3320 Disruptive Innovation in Low-Income Countries: The Role of the Sharing Economy in Shaping the People Transportation Market in Nigeria

Authors: D. Tappi

Abstract:

In the past decades, the idea of innovation moved from being considered the result of development to being seen as its means. Innovation and its diffusion are indeed keys to the development and economic catch-up of a country. However, the process of diffusing existing innovation in low income countries has demonstrated dependent on inadequate infrastructures and institutions. The paper examines the role of disruptive innovation in bridging the technology gap between high- and low-income countries, overcoming the lack in infrastructures and institutions. In particular, the focus of this paper goes to the role of disruptive innovation in people transportation in Nigeria. Uber, Taxify, and Smartcab are covering a small and interesting market that was underserved, between the high-end private driver markets, the personal car owners and the low-priced traditional cab and the Keke (tricycle). Indeed the small Nigerian middle class and international community have found in the sharing people transportation market a safe, reasonably priced means of transportation in Nigerian big cities. This study uses mainly qualitative data collection methods in the form of semi-structured interviews with major players and users and quantitative data analysis in the form of a survey among users in order to assess the role of these new transportation modes in shaping the market and even creating a new niche. This paper shows how the new sharing economy in people transportation is creating new solutions to old problems as well as creating new challenges for both the existing market players and institutions. By doing so, the paper shows how disruptive innovations applied to low income countries, not only can overcome the lacking infrastructure problem but could also help bridge the technology gap between those and high income countries. This contribution proves that it is indeed exactly because the market presents these obstacles that disruptive innovations can succeed in countries such as Nigeria.

Keywords: development, disruptive innovation, sharing economy, technology gap

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3319 A Long Tail Study of eWOM Communities

Authors: M. Olmedilla, M. R. Martinez-Torres, S. L. Toral

Abstract:

Electronic Word-Of-Mouth (eWOM) communities represent today an important source of information in which more and more customers base their purchasing decisions. They include thousands of reviews concerning very different products and services posted by many individuals geographically distributed all over the world. Due to their massive audience, eWOM communities can help users to find the product they are looking for even if they are less popular or rare. This is known as the long tail effect, which leads to a larger number of lower-selling niche products. This paper analyzes the long tail effect in a well-known eWOM community and defines a tool for finding niche products unavailable through conventional channels.

Keywords: eWOM, online user reviews, long tail theory, product categorization, social network analysis

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3318 Electricity Market Categorization for Smart Grid Market Testing

Authors: Rebeca Ramirez Acosta, Sebastian Lenhoff

Abstract:

Decision makers worldwide need to determine if the implementation of a new market mechanism will contribute to the sustainability and resilience of the power system. Due to smart grid technologies, new products in the distribution and transmission system can be traded; however, the impact of changing a market rule will differ between several regions. To test systematically those impacts, a market categorization has been compiled and organized in a smart grid market testing toolbox. This toolbox maps all actual energy products and sets the basis for running a co-simulation test with the new rule to be implemented. It will help to measure the impact of the new rule, based on the sustainable and resilience indicators.

Keywords: co-simulation, electricity market, smart grid market, market testing

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3317 A Historical Overview of the General Implementation of the European Union Market Abuse Directive in the United Kingdom before the Brexit and Its Future Implications

Authors: Howard Chitimira

Abstract:

The European Union (EU) was probably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its member states. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonised the insider trading ban among the EU member states. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all the forms of market abuse in the EU’s securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the British exit (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK.

Keywords: market abuse, insider trading, market manipulation, European Union, United Kingdom

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3316 Sustainable Tourism and Tourism Product Development Conference - Praga

Authors: Ana Rita Conde, Pilar Mota, Tânia Botelho, Carlos Rodrigues, Osvaldo Silva, Áurea Sousa, Suzana Caldeira, Isabel Rego, Jéssica Pacheco

Abstract:

Families with children with ASD are interested in traveling but end up not traveling due to the obstacles they face and not finding inclusive traveling offers. This study will identify the needs of families with children with ASD, to develop the products targeted to their tourist needs. 137 families from different countries answered a questionnaire about their travel experiences, needs and preferences. Based on the results, guidelines are presented for the development of products specially aimed for this market niche.

Keywords: inclusive tourism, sustainability, autism spectrum disorder, children, families

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3315 Price Regulation in Domestic Market: Incentives to Collude in the Deregulated Market

Authors: S. Avdasheva, D. Tsytsulina

Abstract:

In many regulated industries over the world price cap as a method of price regulation replaces cost-plus pricing. It is a kind of incentive regulation introduced in order to enhance productive efficiency by strengthening sellers’ incentives for cost reduction as well as incentives for more efficient pricing. However pricing under cap is not neutral for competition in the market. We consider influence on competition on the markets where benchmark for cap is chosen from when sellers are multi-market. We argue that the impact of price cap regulation on market competition depends on the design of cap. More specifically if cap for one (regulated) market depends on the price of the supplier in other (non-regulated) market, there is sub-type of price cap regulation (known in Russian tariff regulation as ‘netback minus’) that enhance incentives to collude in non-regulated market.

Keywords: price regulation, competition, collusion

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3314 A Comparative Synopsis of the Enforcement of Market Abuse Prohibition in Australia and South Africa

Authors: Howard Chitimira

Abstract:

In Australia, the market abuse prohibition is generally well accepted by the investing and non-investing public as well as by the government. This co-operative and co-ordinated approach on the part of all the relevant stakeholders has to date given rise to an increased awareness and commendable combating of market abuse activities in the Australian corporations, companies, and securities markets. It is against this background that this article seeks to comparatively explore the general enforcement approaches that are employed to combat market abuse (insider trading and market manipulation) activity in Australia and South Africa. In relation to this, the role of selected enforcement authorities and possible enforcement methods which may be learnt from both the Australian and South African experiences will be isolated where necessary for consideration by such authorities, especially, in the South African market abuse regulatory framework.

Keywords: insider trading, market abuse, market manipulation, regulation

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3313 Differentiating Morphological Patterns of the Common Benthic Anglerfishes from the Indian Waters

Authors: M. P. Rajeeshkumar, K. V. Aneesh Kumar, J. L. Otero-Ferrer, A. Lombarte, M. Hashim, N. Saravanane, V. N.Sanjeevan, V. M. Tuset

Abstract:

The anglerfishes are widely distributed from shallow to deep-water habitats and are highly diverse in morphology, behaviour, and niche occupancy patterns. To understand this interspecific variability and degree of niche overlap, we performed a functional analysis of five species inhabiting Indian waters where diversity of deep-sea anglerfishes is very high. The sensory capacities (otolith shape and eye size) were also studied to improve the understanding of coexistence of species. The analyses of fish body and otolith shape clustered species in two morphotypes related to phylogenetic lineages: i) Malthopsis lutea, Lophiodes lugubri and Halieutea coccinea were characterized by a dorso-ventrally flattened body with high swimming ability and relative small otoliths, and ii) Chaunax spp. were distinguished by their higher body depth, lower swimming efficiency, and relative big otoliths. The sensory organs did not show a pattern linked to depth distribution of species. However, the larger eye size in M. lutea suggested a nocturnal feeding activity, whereas Chaunax spp. had a large mouth and deeper body in response to different ecological niches. Therefore, the present study supports the hypothesis of spatial and temporal segregation of anglerfishes in the Indian waters, which can be explained from a functional approach and understanding from sensory capabilities.

Keywords: functional traits, otoliths, niche overlap, fishes, Indian waters

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3312 The Link between Money Market and Economic Growth in Nigeria: Vector Error Correction Model Approach

Authors: Uyi Kizito Ehigiamusoe

Abstract:

The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth.

Keywords: economic growth, investments, money market, money market challenges, money market instruments

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3311 Heterogeneous Intelligence Traders and Market Efficiency: New Evidence from Computational Approach in Artificial Stock Markets

Authors: Yosra Mefteh Rekik

Abstract:

A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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3310 Relationship between Creative Market Actor and Traditional Market Vendor toward a Sustainable Market Model in Jakarta, Indonesia

Authors: Galuh Pramesti

Abstract:

In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market.

Keywords: creative economy, market sustainability, traditional market, urban resilience

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3309 Mind Your Product-Market Strategy on Selecting Marketing Inputs: An Uncertainty Approach in Indian Context

Authors: Susmita Ghosh, Bhaskar Bhowmick

Abstract:

Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirms the number of factor retention using an alternative factor retention criterion, ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation.

Keywords: uncertainty, market, orientation, competitor, demand

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3308 A Probabilistic Theory of the Buy-Low and Sell-High for Algorithmic Trading

Authors: Peter Shi

Abstract:

Algorithmic trading is a rapidly expanding domain within quantitative finance, constituting a substantial portion of trading volumes in the US financial market. The demand for rigorous and robust mathematical theories underpinning these trading algorithms is ever-growing. In this study, the author establishes a new stock market model that integrates the Efficient Market Hypothesis and the statistical arbitrage. The model, for the first time, finds probabilistic relations between the rational price and the market price in terms of the conditional expectation. The theory consequently leads to a mathematical justification of the old market adage: buy-low and sell-high. The thresholds for “low” and “high” are precisely derived using a max-min operation on Bayes’s error. This explicit connection harmonizes the Efficient Market Hypothesis and Statistical Arbitrage, demonstrating their compatibility in explaining market dynamics. The amalgamation represents a pioneering contribution to quantitative finance. The study culminates in comprehensive numerical tests using historical market data, affirming that the “buy-low” and “sell-high” algorithm derived from this theory significantly outperforms the general market over the long term in four out of six distinct market environments.

Keywords: efficient market hypothesis, behavioral finance, Bayes' decision, algorithmic trading, risk control, stock market

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3307 The Development of Chinese Film Market as Factor of Change in Global Hollywood

Authors: Marcin Adamczak

Abstract:

The growth of Chinese film market and its dynamic incomparable to any other historical phenomenon has already made China the second world market and potential future leader in 2-3 years period. The growing power of Chines box-office and its future prospects is then the crucial and potentially disturbing factor for persistence of global Hollywood reality. The paper is based on market statistical data. The main findings of the analysis are defining of essential obstacles for the development of Chinese market and its foreign expansion. However, the new strategies employed by the industry (acquisitions of cinema chains abroad, blockbuster made with the involvement of figures from Hollywood star system, coproduction ties within Pacific basin) could be a successful remedy for current shortcomings. The main factor for development will be wider economical framework and maintenance of growth pace. The future state of Chinese film market will be one of the main factors shaping global film culture and film market in following decades of XXI century.

Keywords: production studies, film market, Chinese film market, distribution

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3306 Analytical Approach to Reinsurance in Algeria as an Emerging Market

Authors: Nesrine Bouzaher, Okba Necira

Abstract:

The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore the national economy needs to develop the insurance market in order to support the investments, externally and internally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance; market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.

Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market

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3305 Consumer Market for Georgian Hazelnut and the Strategy to Improve Its Competitiveness

Authors: M. Chavleishvili

Abstract:

The paper presents the trends of Georgian hazelnut market development and analyses the competitive advantages which will help Georgia to enter international hazelnut market using modern technologies. The history of hazelnut crop development and hazelnut species in Georgia are discussed. For hazelnut supply analysis trends in hazelnut production are considered, trends in export and import development is evaluated, domestic hazelnut market is studied and analysed based on expert interviews and initial accounting materials. In order to achieve and strengthen its position in international market, potential advantages and disadvantages of Georgian hazelnut are revealed, analysis of export and import possibilities of hazelnut is presented. Recommendations are developed based on the conclusions, which are made through identifying the key factors that hinder development of Georgian hazelnut market.

Keywords: hazelnut market, hazelnut export and import, competitiveness of hazelnut

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3304 Analytical Approach to Reinsurance in Algeria as an Emerging Market

Authors: Necira Okba, Nesrine Bouzaher

Abstract:

The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore, the national economy needs to develop the insurance market in order to support the investments, externally and intern ally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area.

Keywords: Algerian reinsurance data, demand trend of Algerian reinsurance, reinsurance, reinsurance market

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3303 Microeconomic Consequences of the Housing Market Deformation in the Selected Region of the Czech Republic

Authors: Hana Janáčková

Abstract:

Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side.

Keywords: housing, housing market, microeconomic consequences, deformation

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3302 Mean and Volatility Spillover between US Stocks Market and Crude Oil Markets

Authors: Kamel Malik Bensafta, Gervasio Bensafta

Abstract:

The purpose of this paper is to investigate the relationship between oil prices and socks markets. The empirical analysis in this paper is conducted within the context of Multivariate GARCH models, using a transform version of the so-called BEKK parameterization. We show that mean and uncertainty of US market are transmitted to oil market and European market. We also identify an important transmission from WTI prices to Brent Prices.

Keywords: oil volatility, stock markets, MGARCH, transmission, structural break

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3301 Testing the Weak Form Efficiency of Islamic Stock Market: Empirical Evidence from Indonesia

Authors: Herjuno Bagus Wicaksono, Emma Almira Fauni, Salma Amelia Dina

Abstract:

The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient.

Keywords: efficient market hypothesis, Indonesia sharia stock index, random walk, weak form efficiency

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3300 Stock Market Developments, Income Inequality, Wealth Inequality

Authors: Quang Dong Dang

Abstract:

This paper examines the possible effects of stock market developments by channels on income and wealth inequality. We use the Bayesian Multilevel Model with the explanatory variables of the market’s channels, such as accessibility, efficiency, and market health in six selected countries: the US, UK, Japan, Vietnam, Thailand, and Malaysia. We found that generally, the improvements in the stock market alleviate income inequality. However, stock market expansions in higher-income countries are likely to trigger income inequality. We also found that while enhancing the quality of channels of the stock market has counter-effects on wealth equality distributions, open accessibilities help reduce wealth inequality distributions within the scope of the study. In addition, the inverted U-shaped hypothesis seems not to be valid in six selected countries between the period from 2006 to 2020.

Keywords: Bayesian multilevel model, income inequality, inverted u-shaped hypothesis, stock market development, wealth inequality

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3299 The Market Structure Simulation of Heterogenous Firms

Authors: Arunas Burinskas, Manuela Tvaronavičienė

Abstract:

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

Keywords: market, structure, simulation, heterogenous firms

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3298 The Culex Pipiens Niche: Assessment with Climatic and Physiographic Variables via a Geographic Information System

Authors: Maria C. Proença, Maria T. Rebelo, Marília Antunes, Maria J. Alves, Hugo Osório, Sofia Cunha, João Casaca

Abstract:

Using a geographic information system (GIS), the relations between a georeferenced data set of Culex pipiens sl. mosquitoes collected in Portugal mainland during seven years (2006-2012) and meteorological and physiographic parameters such as: air relative humidity, air temperature (minima, maxima and mean daily temperatures), daily total rainfall, altitude, land use/land cover and proximity to water bodies are evaluated. Focus is on the mosquito females; the characterization of its habitat is the key for the planning of chirurgical non-aggressive prophylactic countermeasures to avoid ambient degradation. The GIS allow for the spatial determination of the zones were the mosquito mean captures has been above average; using the meteorological values at these coordinates, the limits of each parameter are identified/computed. The meteorological parameters measured at the net of weather stations all over the country are averaged by month and interpolated to produce raster maps that can be segmented according to the thresholds obtained for each parameter. The intersection of the maps obtained for each month show the evolution of the area favorable to the species through the mosquito season, which is from May to October at these latitudes. In parallel, mean and above average captures were related to the physiographic parameters. Three levels of risk could be identified for each parameter, using above average captures as an index. The results were applied to the suitability meteorological maps of each month. The Culex pipiens critical niche is delimited, reflecting the critical areas and the level of risk for transmission of the pathogens to which they are competent vectors (West Nile virus, iridoviruses, rheoviruses and parvoviruses).

Keywords: Culex pipiens, ecological niche, risk assessment, risk management

Procedia PDF Downloads 498