Journal articles on the topic 'Global market selection'
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Evstigneev, Igor V., Thorsten Hens, and Klaus Reiner Schenk-Hoppé. "MARKET SELECTION OF FINANCIAL TRADING STRATEGIES: GLOBAL STABILITY." Mathematical Finance 12, no. 4 (October 2002): 329–39. http://dx.doi.org/10.1111/j.1467-9965.2002.tb00127.x.
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Nguyen, Nguyet, and Dung Nguyen. "Global Stock Selection with Hidden Markov Model." Risks 9, no. 1 (December 31, 2020): 9. http://dx.doi.org/10.3390/risks9010009.
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Hidden Markov model (HMM) is a powerful machine-learning method for data regime detection, especially time series data. In this paper, we establish a multi-step procedure for using HMM to select stocks from the global stock market. First, the five important factors of a stock are identified and scored based on its historical performances. Second, HMM is used to predict the regimes of six global economic indicators and find the time periods in the past during which these indicators have a combination of regimes that is similar to those predicted. Then, we analyze the five stock factors of the All country world index (ACWI) in the identified time periods to assign a weighted score for each stock factor and to calculate the composite score of the five factors. Finally, we make a monthly selection of 10% of the global stocks that have the highest composite scores. This strategy is shown to outperform those relying on either ACWI, any single stock factor, or the simple average of the five stock factors.
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Ferreiro, Ana M., Enrico Ferri, José A. García, and Carlos Vázquez. "Global Optimization for Automatic Model Points Selection in Life Insurance Portfolios." Mathematics 9, no. 5 (February 25, 2021): 472. http://dx.doi.org/10.3390/math9050472.
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Starting from an original portfolio of life insurance policies, in this article we propose a methodology to select model points portfolios that reproduce the original one, preserving its market risk under a certain measure. In order to achieve this goal, we first define an appropriate risk functional that measures the market risk associated to the interest rates evolution. Although other alternative interest rate models could be considered, we have chosen the LIBOR (London Interbank Offered Rate) market model. Once we have selected the proper risk functional, the problem of finding the model points of the replicating portfolio is formulated as a problem of minimizing the distance between the original and the target model points portfolios, under the measure given by the proposed risk functional. In this way, a high-dimensional global optimization problem arises and a suitable hybrid global optimization algorithm is proposed for the efficient solution of this problem. Some examples illustrate the performance of a parallel multi-CPU implementation for the evaluation of the risk functional, as well as the efficiency of the hybrid Basin Hopping optimization algorithm to obtain the model points portfolio.
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Lihachev, O., and N. Kupriyashina. "Financial Models of the Largest Global Companies in the Global 500 List: Financial Leverage, Return on Equity, Debt Servicing." Auditor 6, no. 2 (March 12, 2020): 30–37. http://dx.doi.org/10.12737/1998-0701-2020-30-37.
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The article is devoted to the analysis of approaches to financing the business activities of large companies of the Fortune Global 500 list, one of the most popular rating lists today. The selection of the optimal financing model is one of the key issues in the development of the modern market.
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Bikowski, Łukasz. "The situation of banking institutions on the Polish market." Oeconomia Copernicana 2, no. 2 (June 30, 2011): 61–74. http://dx.doi.org/10.12775/oec.2011.008.
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The paper aims to present the financial position and condition of banking institutions on Polish market which remain under the direct influence of current trends in global financial markets. It briefly describes the mechanisms leading to a crisis situation and subsequent stages of its progress. Illustrates how the Polish banking system is linked to the global market and what are the implications of these linkages. Referring to the results of the survey describes the level of confidence of the Polish to banks operating in the current global financial crisis. In the consequence can to facilitate the selection of the design guidelines of banking offer and adapt it to their current economic situation and economic, as well as to the expectations of current and potential customers.
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Фролова, Марина, and Marina Frolova. "The Russian Market of Mergers and Acquisitions." Servis Plus 8, no. 1 (March 15, 2014): 76–83. http://dx.doi.org/10.12737/2800.
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The article investigates the trends in the Russian market of mergers and acquisitions (M&A) over the last decade. It provides a list of problematic aspects of the legislation of the Russian Federation in the sphere of state regulation of financial markets, the methodology of evaluation and corporate management affecting the number of transactions and the global market. The article analyses the dynamics in the number and value of deals of the Russian market of mergers and acquisitions in the period from 2003 to 2012. The author compares the value of Russian, USA and European markets during the analyzed period. The comparison involves the dynamics of the share of the Russian market and the market share dynamics in Europe, the USA and other countries in the framework of global mergers and acquisitions market. The article defines the similarities that M&A market trends in Russia, USA and Europe show and the discrepancies between the peak and trough periods for the Russian market value and for the market value of other countries, especially the BRICS countries. The article also researches the Russian market and sample Russian industry markets during the global financial crisis of 2008, in the immediately preceding and the following years. The peculiarities of the Russian market are identified, as well as the trends similar to those identified and described in the American research methodology in markets of mergers and acquisitions, with the research aiming at the selection of target companies that maximize the value of the acquiring company.
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Chambi Condori, Pedro Pablo. "Financial contagion: The impact of the volatility of global stock exchanges on the Lima-Peru Stock Exchange." Economía & Negocios 1, no. 1 (June 24, 2020): 13–27. http://dx.doi.org/10.33326/27086062.2019.1.896.
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What happens in the international financial markets in terms of volatility, have an impact on the results of the local stock market financial markets, as a result of the spread and transmission of larger stock market volatility to smaller markets such as the Peruvian, assertion that goes in accordance with the results obtained in the study in reference. The statistical evaluation of econometric models, suggest that the model obtained can be used for forecasting volatility expected in the very short term, very important estimates for agents involved, because these models can contribute to properly align the attitude to be adopted in certain circumstances of high volatility, for example in the input, output, refuge or permanence in the markets and also in the selection of best steps and in the structuring of the portfolio of investment with equity and additionally you can view through the correlation on which markets is can or not act and consequently the best results of profitability in the equity markets. This work comprises four well-defined sections; a brief history of the financial volatility of the last 15 years, a tight summary of the background and a dense summary of the methodology used in the process of the study, exposure of the results obtained and the declaration of the main conclusions which led us mention research, which allows writing, evidence of transmission and spread of the larger stock markets toward the Peruvian stock market volatility, as in the case of the American market to the market Peruvian stock market with the coefficient of dynamic correlation of 0.32, followed by the Spanish market and the market of China. Additionally, the coefficient of interrelation found by means of the model dcc mgarch is a very important indicator in the structure of portfolios of investment with instruments that they quote on the financial global markets.
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Hudson, Ian. "The Currency Carry Trade: Selection Skill or Behavioral Bias." International Business Research 9, no. 9 (August 29, 2016): 176. http://dx.doi.org/10.5539/ibr.v9n9p176.
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<p>Many attempts have been undertaken to solve the forward premium puzzle with little to no success. The global currency market is considered the most information efficient and transparent of all financial markets since it demonstrates a balance between over and under-reaction to information with remarkable consistency. The Efficient Market Hypothesis espouses investors cannot systematically outperform a benchmark since all investors have access to the same information. Therefore, the expected long-term rate of return for currencies is essentially zero. The Arbitrage Pricing Theory asserts investment returns are random. As such, traders cannot avail themselves of mispriced currencies. The assertion of Uncovered Interest Rate Parity is that bi-national interest rate variance is equal to the expected differential in exchange rates. This paper asks the following questions: does alpha persistence exist in currency carry trade funds or are its excess returns merely a collection of behavioral biases?</p>
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Hanif, Muhammad. "Portfolio selection in Asia/Pacific region-Islamic markets." Journal of Islamic Accounting and Business Research 11, no. 3 (January 8, 2020): 905–28. http://dx.doi.org/10.1108/jiabr-02-2018-0022.
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Purpose Islamic capital markets, i.e. ICMs, featured as socially responsible investments, less levered and more reflective of the real sector, are a recent development in financial markets showing an impressive growth and offering the potential for portfolio diversification benefits. The purpose of this study is to understand the long-run integration of ICMs in the Asia/Pacific region. Design/methodology/approach This sample includes ICMs of Asia/Pacific region (such as Pakistan, India, China, Japan, Thailand, Malaysia and Indonesia) for 280 weeks between 2011 and 2016. Selected indexes are FTSE Islamic except for Pakistan and Indonesia. Evidence was obtained through the application of correlation, unit root, Johansen cointegration and Granger causality tests. Findings This study documents the results of the integration of ICMs based on developmental stage, geographic location, economic cooperation and shared religious beliefs/civilization. Partial support was observed for all hypotheses: integration of markets based on economic grouping, location, economic treaties and shared civilization. The Japanese market was the most integrated, while the Indian and Malaysian markets are the least. Evidence supports the shift of leadership role from advanced markets to emerging markets. Practical implications Selected diversification opportunities are available for global Islamic as well as conventional investors. This study recommends closer cooperation among Muslim majority countries of the region, as well as the effective use of economic cooperation treaties for joint economic growth and prosperity. Originality/value This study contributes to the literature by providing evidence on the integration of ICMs in an economically important region (Asia/Pacific) that is witnessing an increasing role in the global gross domestic product and international trade.
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Moen, Øystein, and Per Servais. "Born Global or Gradual Global? Examining the Export Behavior of Small and Medium-Sized Enterprises." Journal of International Marketing 10, no. 3 (September 2002): 49–72. http://dx.doi.org/10.1509/jimk.10.3.49.19540.
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Over the past decade, several studies have questioned the stage models of the internationalization process. Many of these studies concentrate on the exporting versus nonexporting factor, identifying an increasing number of firms that are active in international markets shortly after establishment. Limited empirical evidence exists as to whether this actuality indicates simply a reduced time factor in the preexport phase or an important change in the export behavior of firms. Using small and medium-sized exporting firms from Norway, Denmark, and France, the authors focus on the concept of gradual development. The results suggest that export intensity, distribution, market selection, and global orientation are not influenced by the firm's year of establishment or first year of exporting activity. One-third of the firms sampled reported that the time period between establishment and export commencement was less than two years. In terms of export intensity, these firms outperform those that waited several years before exporting. The results indicate that the future export involvement of a firm is, to a large extent, influenced by its behavior shortly after establishment. The results further indicate that the development of resources in support of international market competitiveness may be regarded as the key issue and that the basic resources and competencies of the firm are determined during the establishment phase. The authors review how the management challenges differ depending on the type of firm (age and export involvement) in question.
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Asis, Gonzalo, Anusha Chari, and Adam Haas. "Emerging Markets at Risk." AEA Papers and Proceedings 110 (May 1, 2020): 493–98. http://dx.doi.org/10.1257/pandp.20201007.
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Policymakers would like to predict and mitigate the risks associated with the post-global financial crisis rise in corporate leverage in emerging markets. However, long-standing advanced-economy bankruptcy models fail to capture the idiosyncrasies that impact the solvency of emerging market firms. We study how a machine learning technique for variable selection, LASSO, can improve corporate distress risk models in emerging markets. Exploring the trade-off between model fit and predictive power, we find that larger models forecast distress with more accuracy during periods of economic stress (when global factors gain relevance), while more parsimonious specifications outperform during normal times.
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Negoro, Kazuhiro, and Nobuo Matsubayashi. "Game-theoretic analysis of partner selection strategies for market entry in global supply chains." Transportation Research Part E: Logistics and Transportation Review 151 (July 2021): 102362. http://dx.doi.org/10.1016/j.tre.2021.102362.
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Shen, Leslie. "Global Banking and Firm Financing: A Double Adverse Selection Channel of International Transmission." International Finance Discussion Paper 2021, no. 1323 (August 4, 2021): 1–70. http://dx.doi.org/10.17016/ifdp.2021.1325.
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This paper proposes a "double adverse selection channel" of international transmission. It shows, theoretically and empirically, that financial systems with both global and local banks exhibit double adverse selection in credit allocation across firms. Global (local) banks have a comparative advantage in extracting information on global (local) risk, and this double information asymmetry creates a segmented credit market where each bank lends to the worst firms in terms of the unobserved risk factor. Given a bank funding (e.g., monetary policy) shock, double adverse selection affects firm financing at the extensive and price margins, generating spillover and amplification effects across countries.
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Bal, Gnyana Ranjan, Amit Manglani, and Malabika Deo. "Asymmetric Volatility Spillover between Stock Market and Foreign Exchange Market: Instances from Indian Market from Pre-, during and Post- Subprime Crisis Periods." Global Business Review 19, no. 6 (August 28, 2018): 1567–79. http://dx.doi.org/10.1177/0972150918789986.
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Modern businesses are so inter-twined that a cause in one market affects other markets throughout the Globe. The 2008 subprime crisis is one of such evidences of inter-linkage of global markets. Such type of event motivates many studies to analyse the transmission of volatility from one market to another market. The study aims to analyse the volatility spillover effect between CNX Nifty and exchange rates covering for three different currencies, that is, USD, GBP and yen. GARCH (1,1) and EGARCH (1,1) have been used to identify the spillover effect and asymmetries or leverage effect in the volatility transmission through the estimation of different parameters. The overall findings show that there is spillover between the foreign exchange and the stock market. Among the three exchange rates, the USDR is strongly co-related with the Indian stock market as compared to other rates. Our study will significantly contribute to the existing literature in this context. The findings of the study have greater implications especially for hedgers, arbitrators and other participants in this market. As such type of information regarding transmission of volatility can help them to diversify their overseas risk through an optimal portfolio selection.
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Balladares, Karen, José Pedro Ramos-Requena, Juan Evangelista Trinidad-Segovia, and Miguel Angel Sánchez-Granero. "Statistical Arbitrage in Emerging Markets: A Global Test of Efficiency." Mathematics 9, no. 2 (January 18, 2021): 179. http://dx.doi.org/10.3390/math9020179.
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In this paper, we use a statistical arbitrage method in different developed and emerging countries to show that the profitability of the strategy is based on the degree of market efficiency. We will show that our strategy is more profitable in emerging ones and in periods with greater uncertainty. Our method consists of a Pairs Trading strategy based on the concept of mean reversion by selecting pair series that have the lower Hurst exponent. We also show that the pair selection with the lowest Hurst exponent has sense, and the lower the Hurst exponent of the pair series, the better the profitability that is obtained. The sample is composed by the 50 largest capitalized companies of 39 countries, and the performance of the strategy is analyzed during the period from 1 January 2000 to 10 April 2020. For a deeper analysis, this period is divided into three different subperiods and different portfolios are also considered.
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WIBISONO, ANJAR. "Tinjauan Criteria Supplier-Selection, Integrasi Internal dan Eksternal Supply Chain terhadap Kinerja Perusahaan." BISMA (Bisnis dan Manajemen) 2, no. 1 (June 6, 2018): 11. http://dx.doi.org/10.26740/bisma.v2n1.p11-19.
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Performance measurement reflects the company capability to prepare the customer desired standard when in time it considers lower production and maintenance costs, higher product quality, reduced stock in process, deprived material processing cost, and shorter delivery deadline. The key to improve company performance locates at integrated effectiveness building, internally or externally, through cooperation and coordination begun with supplier-selection criteria between business partners. Supply Chain Management (SCM) requires: internal integration (intra-organization) and external integration (inter-organization). Primary key of Supply Chain Management (SCM) will be having supplier as partner in the company strategy and satisfying the always changing market demand. Therefore, a selection among company strategy options in the global competition really produces a model of dominant integration, coordination, and cooperation in controlling global market, precisely through supply chain as important element to contribute to company performance improvement.
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Sinha, Paresha, Mingyang (Ana) Wang, Joanna Scott-Kennel, and Jenny Gibb. "Paradoxes of psychic distance and market entry by software INVs." European Business Review 27, no. 1 (January 12, 2015): 34–59. http://dx.doi.org/10.1108/ebr-12-2013-0144.
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Purpose – This paper aims to examine the role of psychic distance during the process of international market entry by software international new ventures (INVs) from small, open economies. Specifically, we investigate how home market and global industry contexts influence market-entry strategies, and how psychic distance influences initial then subsequent market-entry choice decisions. Design/methodology/approach – Using Atlas.ti7 software, this paper adopts a qualitative, multi-case analysis of ten software INVs based in New Zealand. Thematic coding of interview and secondary data revealed three core processes: pre-entry considerations, market selection criteria and post-entry evaluation, across the stages of initial and subsequent market entry. Findings – In the context of the global software industry, the key driver of proactive market entry by INVs from small, open economies is market size rather than psychic distance. During the process of market expansion, firms encounter the psychic distance paradox (PDP). A second paradox arises when, despite experiential learning, managerial perceptions of psychic distance increase, making entry into more distant markets less, rather than more, likely and reactive, rather than proactive. Originality/value – This paper addresses contextual differences in software versus more traditional sectors, and the influence of psychic distance on market entry rather than outcomes. Specifically, extending our understanding of the PDP, we find perceptual psychic and cultural distance ignored as criteria for initial market-entry decisions, and initial positive attitudes toward risk-taking become less apparent during subsequent entries.
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Pananond, Pavida. "Motives for foreign direct investment: a view from emerging market multinationals." Multinational Business Review 23, no. 1 (April 20, 2015): 77–86. http://dx.doi.org/10.1108/mbr-02-2015-0008.
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Purpose – The purpose of this paper explains how the framework on motives of foreign direct investment (FDI) needs to be rethought when analyzing emerging market multinational enterprises (EMNEs). It argues that the weak position of emerging market firms and their interdependent relationship with lead firms in global value chains (GVCs) modify the selection of internationalization motives. Design/methodology/approach – The arguments are illustrated through a critical review of the literature on FDI motives and a discussion on how the literature can be extended from looking through the lens of emerging market multinationals, particularly those with early development as suppliers in global value chains. Findings – The weak position of emerging market firms and their interdependent relationship with lead firms in global value chains modify the selection of internationalization motives on two aspects. First, internationalization decisions of EMNEs in GVCs are not undertaken in an independent manner. Rather, decisions are influenced by the initial position along the value chain and the dynamic relationships that these EMNEs have with lead firms. Second, the selection of FDI motives of these EMNEs reflects both their international expansion strategy and the upgrading effort they wish to pursue to undertake higher value-adding activities along the GVCs. Originality/value – These implications addressed in this paper add more nuances to the interpretation of FDI motives. Previously viewed mainly from the perspective of lead firms, FDI decisions are considered as independent alternatives that multinational enterprises (MNEs) can undertake to fulfill their internationalization strategy. Revisiting the FDI motives from the perspective of EMNEs reveals further insights on the interdependent nature of their internationalization, particularly reflecting the weaker position of EMNEs and their interdependent relationship with lead firms in their industry.
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Shapoval, Bohdan. "Assessment MENA countries potential for dairy products export." Ekonomika APK 314, no. 12 (December 28, 2020): 112–20. http://dx.doi.org/10.32317/2221-1055.202012112.
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The purpose of the article is to conduct a thorough analysis of the regions of the Middle East and North Africa that are potentially attractive for the export of dairy products, to highlight promising markets for the export of Ukrainian dairy products. Research methods. The study is based on a systematic approach to assessing the situation that has arisen in the global dairy market. Historical and analytical methods are used in the formation and analysis of analytical materials, as well as a comparative method for evaluating its results. The method of analysis highlighted the types of products imported to certain countries and the level of consumption of the products. Due to this, a general picture of the import and consumption of dairy products in certain countries was formulated. Research results. In the course of the research, potential countries for export of dairy products from the regions of the Middle East and North Africa were selected. The most promising product items for export and strategies for working with two types of buyers have been identified. Scientific novelty. A mechanism for selecting the export market among different countries has been developed. Recommendations for negotiations and business with representatives of the Middle East and North Africa region are developed. Practical significance. The recommendations published in this article are aimed to help to get acquainted with the markets selected for export, and consumers and their product selection criteria. The selection of countries can make it easier for dairy producers to choose an export market and a strategy to enter it. Figs.: 5. Refs.: 20.
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Basak, Ayan, and Kavita Khanna. "A study on the selection criteria of different hotels of Delhi NCR in accordance to the hr policies and market trends." International journal of social sciences and humanities 1, no. 1 (February 19, 2017): 27–38. http://dx.doi.org/10.29332/ijssh.v1n1.13.
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The hotel industry is one of the most booming industry contributing tremendous growth in the global economy. It has never got affected by any kind of recession or economic turmoil, and this happens because of the fact that individuals/ families would need services of hotel industry for various reasons of human activities like business, recreation, pilgrimage educational tour, historical tours, festivals, carnivals, medical assistance trip etc. and so on. The biggest apprehension about this industry is attrition/turnover rate of employees; and to trounce this matter, selection of the right candidate at the right profile for the right post is the way to success. Selection criteria include all the essential and desirable skills, attributes, experience, and education which an organization decides is necessary for a position. Selection criteria help to select the most capable, effective, suited, experienced, qualified, the person for the job. Applicants must demonstrate and prove the ways in which they will be of valued for the job and the organization. Job selection criteria are also known as key selection criteria or KSC. They are designed to help make the most accurate match between the requirements of a position and the skills of an applicant. For selecting the right candidate, perfect for a particular job, selection has to be well planned, tactically accurate and strategically correct, as there is a huge pressure of short listing, filtering and selecting the right candidate, which makes the whole exercise lengthy as well as painstaking.
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Dow, Douglas. "Born global firms and accidental internationalists: Has Hennart (2014) opened a can of worms?" Review of International Business and Strategy 27, no. 3 (September 4, 2017): 286–307. http://dx.doi.org/10.1108/ribs-02-2017-0012.
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Purpose The purpose of this paper is to respond to Hennart’s (2014) challenge to the existing born global literature. In his challenge, Hennart proposes a simpler explanation of why some firms internationalize earlier and more aggressively than others. However, such a parsimonious model of born global firms raises the awkward question of whether born global firms are indeed any different from firms that internationalize more gradually. Design/methodology/approach Using two extensive surveys of Australian exporters, this paper first explores the degree to which a set of six “facilitating factors” that Hennart puts forward are different across born global and non-born global firms. Next, it tests the second aspect of the debate highlighted above – i.e. whether born global firms behave differently from non-born global firms. This is done by testing for differences in the patterns of early market selection for born global and non-born global firms. Findings Support is found for both the role of facilitating factors and for the view that born global firms behave differently from non-born global firms. As a result, it is proposed that the Hennart and the RBV-oriented explanations of born global firms need to be viewed as complementary, rather than competing. Each may represent a necessary but not sufficient condition with respect to born global firms. Originality/value A systematic testing for differences in facilitating factors and market selection patterns across born global and non-born global firms are both issues that have major implications for the born global literature, and yet have been left largely unexplored to date.
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Kwon, Young-Il, and Jong-Ku Son. "A Case Study on the Promising Product Selection Indicators for Small and Medium-Sized Enterprises (SMEs)." Journal of Open Innovation: Technology, Market, and Complexity 4, no. 4 (November 22, 2018): 56. http://dx.doi.org/10.3390/joitmc4040056.
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This case study used a technology readiness level (TRL), market attractiveness level (MAL), and customer readiness level (CRL) to measure the prospect of promising products. The TRL, MAL, and CRL were measured using Delphi methods. A TRL is composed of basic research as well as experimental, prototype, practical, and commercial stages. A market attractiveness level is made up of global market size, global market growth rate, and government policy suitability. A customer readiness level was measured using consumer preference. The promising products were mainly selected as information communication and software related products. Among the technologies and products announced by domestic and foreign organizations, products suitable for research and development tasks of small and medium-sized enterprises were selected. The results of this case study are expected to be committed for the enhancement of the success rate of commercialization for small and medium-sized enterprises by being dedicated to the R&D planning of small and medium-sized enterprises in the ICT (Information and Communication Technology)/SW (Software)) field and proposing a direction to pursue the business. The purpose of this paper is to propose an approach to measure the prospect of promising products by using three levels: TRL, MAL, and CRL, which are measured using Delphi methods. This approach aims to enhance the success rate of commercialization for small and medium-sized enterprises (SMEs).
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Kral, Pavol, and Katarina Janoskova. "Consumer perception of global branded products quality." SHS Web of Conferences 74 (2020): 01018. http://dx.doi.org/10.1051/shsconf/20207401018.
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The brand plays the key part in consumer decision-making on products, and it is crucially important to both producer and consumer. The long-term globalization process has significantly influenced international brand policy. A successful brand in the domestic market is not a prerequisite of success in global markets. Successful global brand reflect on the rational as well as emotional customer expectations and desires that may change over time. The consumers generally consider branded product to the significant of quality, and they are likely to opt for the proven brand rather than even considering also the other brands available. The aim of this paper is to evaluate the relationship between selected socio-demographic characteristics (gender, age, education) and the subjective perception of selected global brands (branded products) quality by current consumers using selected mathematical-statistical methods. We realized a large-scale marketing survey was conducted on a sample of consumers (total 2002 respondents) with a minimum age of 15 years in 2018. The analysis results show relationship of different nature and intensity between socio-demographic characteristics of respondents and their attitudes towards quality of branded products. Conclusions and findings of analysis can be considered appropriate to apply to current consumer markets. The findings of the survey proved that effective branding strategies shall respect, inter alia, pursue the also socio-demographic trends consumers markets. The socio-demographic characteristics of consumers shall be considered the reliable selection criterion for determining both attractivity and potential of the brand in terms of the success of the brand.
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Hodnett, Kathleen, and Heng-Hsing Hsieh. "Application Of Cascade-Correlation Neural Networks In Developing Stock Selection Models For Global Equities." International Business & Economics Research Journal (IBER) 11, no. 4 (October 3, 2012): 375. http://dx.doi.org/10.19030/iber.v11i4.7326.
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We investigate the potential of artificial neural networks (ANN) in the stock selection process of actively managed funds. Two ANN models are constructed to perform stock selection, using the Dow Jones (DJ) Sector Titans as the research database. The cascade-correlation algorithm of Fahlman and Lebiere (1990/1991) is combined with embedded learning rules, namely the backpropagation learning rule and the extended Kalman filter learning rule to forecast the cross-section of global equity returns. The main findings support the use of artificial neural networks for financial forecasting as an active portfolio management tool. In particular, fractile analysis and risk-adjusted return performance metrics provide evidence that the model trained via the extended Kalman filter rule had greater strength in identifying future top performers for global equities than the model trained via the backpropagation learning rule. There is no distinguishable difference between the performances of the bottom quartiles formed by both ANN models. The zero-investment portfolios formed by longing the top quartiles and simultaneously shorting the bottom quartiles or the market proxy exhibit statistically significant Jensens alpha and continues to accumulate positive returns over the out-of-sample period for both ANN models. On the other hand, the zero-investment portfolios formed by longing the bottom quartiles and simultaneously shorting the market proxy exhibit statistically significant Jensens alpha and continues to accumulate losses over the out-of-sample period for both ANN models. The implementation of the extended Kalman filter rule in training artificial neural networks for applications involving noisy financial data is recommended.
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Simon, Jean Paul. "The global internet market(s): a reconstruction of the views of the industry." Digital Policy, Regulation and Governance 22, no. 2 (May 18, 2020): 109–33. http://dx.doi.org/10.1108/dprg-10-2019-0092.
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Purpose This paper aims to provide a synthesis of the evolution of the global internet markets through an assessment of their economic strength. It is an attempt to describe the various segments of the internet value chain and the evolution of the markets. It aims at briefly summing up the very dynamics of the sector, of the various subsectors while looking at the business models and the market capitalization. Design/methodology/approach The paper is a descriptive paper, presenting market trends, based on desk research and trade press. It is not meant to provide any theoretical contribution but attempting to reconstruct the views from the industry as documented by trade literature. Hence, the paper relies mostly on industry and consultancy data. The paper builds on a database collected by the author over the past 30 years and the selection of the relevant data to document and identify the trends and offer a synthesis of the views of the industry. Findings The paper shows how over the past 30 years the internet has changed dramatically from both a quantitative (reaching more and more users worldwide and witnessing a dramatic growth of all markets) and qualitative (offering an array of innovative products and services enabled by the deployment of new networks) and the availability of new devices. The paper reveals how each technological wave ushered in a series of innovation and new services, boosted the foundation and the growth of pioneering companies. Research limitations/implications Taking into account the lack of official data, the industry data used should be treated as just signals of potential trends, but sufficient to give an overview of the evolution of the global internet markets. Furthermore, detailed studies should complement this descriptive approach. The approach does have obvious methodological and theoretical limits, not providing a robust methodological framework just offering a reconstruction of the trends as documented by the trade publications. However, it concludes highlighting some of the tensions and contradictions. Practical implications The paper closes with a summary of the main transformations and considers some future developments. The paper draws some lessons from some failures and from the strategies of firms. Social implications The paper hints at the way users developed “unique” behaviors using social media, taking advantage of the new opportunities to exchange with others. The paper hints at some regulatory issues and challenges. Originality/value The paper briefly sums up the very dynamics of the global internet market(s). It attempts to characterize some of the main features of their evolution and of the main segments. If offers a comprehensive overview of available data.
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Bagautdinova, N. G., E. I. Kadochnikova, and A. N. Bakirova. "Predictive autoregressive models using macroeconomic variables: the role of oil prices in the Russian stock market." Accounting 7, no. 7 (2021): 1547–56. http://dx.doi.org/10.5267/j.ac.2021.5.016.
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This article evaluates the relationship of macroeconomic variables of the domestic market with the stock index on the Moscow exchange and selects forecast specifications based on an integrated autoregressive model - the moving average. The methods used are included in an integrated autoregressive-moving average model with exogenous variables and seasonal component, Box and Jenkins approach, auto.arima in R function, Hyndman and Athanasopoulos approach, and maximum likelihood method. The results demonstrate that the inclusion of external regressors in the one-dimensional ARIMAX model improves its predictive characteristics. Time series of macro-indicators of the domestic market – the consumer price index, the index of output of goods and services for basic activities are not interrelated with the index of the Moscow exchange, with the exception of the dollar exchange rate. The positive correlation between the Moscow exchange index and macro indicators of the world economy - the S&P stock index, the price of Brent oil, was confirmed. In models with minimal AIC, a rare presence of the MA component was found, which shows that the prevailing dependence of the stock market yield on previous values of the yield (AR component) and thus, better predictability of the yield. It has shown that for stock market forecasting, "manual" selection of the ARIMA model type can give better results (minimum AIC and minimum RMSE) than the built-in auto.arima algorithm in R. It is shown that from a practical point of view, when selecting forecast models, the RMSE criterion is more useful for investors, which measures the standard error of the forecast in points of the stock index. For the scientific novelty, using Russian financial data for the period from March 2000 to March 2018 to measure the connection of macro indicators of domestic and global markets with the Moscow exchange stock index, considering seasonality can be noticed. The comparison of the forecast model’s accuracy of the ARIMA type obtained by automatic and "manual “selection by AIC and RMSE is performed in favor of "manual" selection. It could be noted that the main conclusions of the article can be used in scientific and practical activities in the stock markets as a practical significance.
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Kim, Eun-chong, Han-wook Jeong, and Nak-young Lee. "Global Asset Allocation Strategy Using a Hidden Markov Model." Journal of Risk and Financial Management 12, no. 4 (November 6, 2019): 168. http://dx.doi.org/10.3390/jrfm12040168.
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This study uses the hidden Markov model (HMM) to identify the phases of individual assets and proposes an investment strategy using price trends effectively. We conducted empirical analysis for 15 years from January 2004 to December 2018 on universes of global assets divided into 10 classes and the more detailed 22 classes. Both universes have been shown to have superior performance in strategy using HMM in common. By examining the change in the weight of the portfolio, the weight change between the asset classes occurs dynamically. This shows that HMM increases the weight of stocks when stock price rises and increases the weight of bonds when stock price falls. As a result of analyzing the performance, it was shown that the HMM effectively reflects the asset selection effect in Jensen’s alpha, Fama’s Net Selectivity and Treynor-Mazuy model. In addition, the strategy of the HMM has positive gamma value even in the Treynor-Mazuy model. Ultimately, HMM is expected to enable stable management compared to existing momentum strategies by having asset selection effect and market forecasting ability.
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Boloș, Marcel-Ioan, Ioana-Alexandra Bradea, and Camelia Delcea. "A Fuzzy Logic Algorithm for Optimizing the Investment Decisions within Companies." Symmetry 11, no. 2 (February 5, 2019): 186. http://dx.doi.org/10.3390/sym11020186.
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As companies operate in a competitive environment, where the struggle for survival on the market is rather tough, the top management face new challenges to identify methods, and even techniques, which allows it to select from the market those assets that provide an optimal ratio between the acquisition cost and the economic performance. In this context, a fuzzy logic managerial decision tool for the assets acquisition is proposed with the paper. The algorithm has three main components: the matrix of the membership degree of the existing bids to asset selection criteria, using fuzzy triangular numbers; the vector of the global membership degree of the bids to the selection criteria and the maximum of the global membership degree as an inference operator for establishing the validated bids by the algorithm. Two scenarios of asset acquisition were tested. After simulations, it was determined that the proposed fuzzy logic managerial decision tool combines, with very good results, the acquisition cost of the assets with their economic performance.
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Lee, Dong Hyeon, Ok-kyung Lim, Wooseok Ok, and Sang Hwa Song. "A study on the factors for the market selection criteria in the global power plant EPC industry." Korean Journal of EU Studies 22, no. 2 (December 31, 2017): 117–40. http://dx.doi.org/10.38158/kjeus.22.2.5.
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Zinov, V. G., N. G. Kurakova, and O. V. Cherchenko. "The Problem of selection of indicators, reflecting the proportion of high-tech products in the global market." Economics of Science 2, no. 4 (2016): 276–92. http://dx.doi.org/10.22394/2410-132x-2016-2-4-276-292.
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Zinov, V. G., N. G. Kurakova, and O. V. Cherchenko. "THE PROBLEM OF SELECTION OF INDICATORS, REFLECTING THE PROPORTION OF HIGH-TECH PRODUCTS IN THE GLOBAL MARKET." Economics of Science 3, no. 2 (January 1, 2017): 105–15. http://dx.doi.org/10.22394/2410-132x-2017-3-2-105-115.
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Human, Christopher James, and Geoff Bick. "BOS Brands: challenges of internationalisation." Emerald Emerging Markets Case Studies 6, no. 4 (November 21, 2016): 1–32. http://dx.doi.org/10.1108/eemcs-05-2016-0061.
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Subject area This teaching case focuses on the field of marketing, particularly, the situation of building a global brand as small and medium-sized enterprises (SME) internationalizing from an emerging market. Study level/applicability It is recommended for postgraduate and post-experience students, for example, in MBA programmes and executive education courses. Case overview This teaching case focuses on the field of marketing, particularly, the situation of building a global brand as SME internationalizing from an emerging market. It is recommended for postgraduate and post-experience students, for example, in MBA programmes and executive education courses. BOS Brands provides an interesting case on the internationalisation experience of a Born Global firm, particularly from an emerging market context. This medium-sized South African business develops, distributes and markets Rooibos-based beverages in Southern Africa and Europe, with eyes on a broader global presence. The case provides insights into the strategic decisions required to successfully take a medium-sized business into competitive foreign markets without the capital and support enjoyed by many larger multinational corporations. Among other issues, BOS Brands provides fertile ground to explore the selection of target country and entry mode, overcoming cultural and physical distance, opportunity recognition and the roles of networks and innovation. Expected learning outcomes The expected learning outcomes are to: analyse the decision-making process of the internationalising SME in terms of internationalisation factors, timing and phases and evaluation of potential target countries and entry mode options and launch marketing approach; understand the complexities of marketing in a foreign cultural and business context (including cultural and physical distance); and develop alternative marketing strategies for an entrepreneurial SME to grow internationally given limited resources. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 8: Marketing.
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Contractor, Farok J., and Sumit K. Kundu. "Franchising versus Company-Run Operations: Modal Choice in the Global Hotel Sector." Journal of International Marketing 6, no. 2 (June 1998): 28–53. http://dx.doi.org/10.1177/1069031x9800600207.
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Franchising is already an important component of global strategy in many service sectors such as hotels. This article asks, “Given a choice between a company-run and a franchised operation, what factors will tip the strategic selection toward franchising, for a particular hotel property?” The modal choice is influenced by both the environment or conditions in the market in which the hotel property is located— as well as the characteristics and strategy of the global hotel firm that is to decide whether to franchise, or run the property themselves. The propensity to franchise is shown to reflect a mix of factors, including: level of development of the intended foreign market; the extent of globalization and international experience of the firm; and strategic factors such as the degree of investment in its global reservations system and brand, as well as the size of its overall operations.
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Hajibaba, Homa, Bettina Grün, and Sara Dolnicar. "Improving the stability of market segmentation analysis." International Journal of Contemporary Hospitality Management 32, no. 4 (October 23, 2019): 1393–411. http://dx.doi.org/10.1108/ijchm-02-2019-0137.
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Purpose Data-driven market segmentation is heavily used by academic tourism and hospitality researchers to create knowledge and by data analysts in tourism industry to generate market insights. The stability of market segmentation solutions across repeated calculations is a key quality indicator of a segmentation solution. Yet, stability is typically ignored, risking that the segmentation solution arrived at is random. This study aims to offer an overview of market segmentation analysis and propose a new procedure to increase the stability of market segmentation solutions derived from binary data. Design/methodology/approach The authors propose a new method – based on two independently proposed algorithms – to increase the stability of market segmentation solutions. They demonstrate the superior performance of the new method using empirical data. Findings The proposed approach uses k-means as base algorithm and combines the variable selection method proposed by Brusco (2004) with the global stability analysis introduced by Dolnicar and Leisch (2010). This new approach increases the stability of segmentation solutions by simultaneously selecting variables and numbers of segments. Practical implications The new approach can be adopted immediately by academic researchers and industry data analysts alike to improve the quality of market segmentation solutions derived from empirical tourist data. Higher quality market segmentation solutions translate into competitive advantage and increased business or destination performance. Originality/value The proposed approach is newly developed in this study. It helps industry data analysts and academic researchers to reduce the risk of deriving random segmentation solutions by analyzing the data in a systematic way, then selecting the most stable solution using the segmentation variables contributing to this most stable solution only.
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Kabaja, Bartłomiej. "Product packaging communication in the global market – the analysis of consumer behaviour." SHS Web of Conferences 92 (2021): 06015. http://dx.doi.org/10.1051/shsconf/20219206015.
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Research background: Business activities of international companies primarily focus on the use of marketing instruments to shape global markets. The basic tactic tools employed are those related to the product and its brand. The changes in lifestyle observed in global society have led to an increase in the importance of packaging and labelling as a means of conveying information from the manufacturer to the consumer. Purpose of the article: The aim of the study was to analyze consumer behavior related to the selection of canned carbonated drinks offered by various producers, operating on the global and local market. The research material comprised 10 packages of canned carbonated drinks. In terms of the variety of flavors, the products belonged to two different groups: orange-flavored and lemon-flavored. Methods: Eye tracking was the method used in the study. Eye tracking is a research tool consisting in tracking the visual activity of the examined person. Carbonated drinks evaluations were performed using Tobii X2-30 Eye-tracker. Sixty subjects participated in the test. Findings & Value added: The conducted research shows that consumers are more likely to choose the products of global brands than the local ones. In the first part of the study, the respondents focused on graphical elements representing fruit. In the second part, the subjects more often focused on the verbal elements that had been removed from the first part of the test. These findings suggest that verbal elements are very important in the purchasing behavior of consumers.
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Lynn Childs, Michelle, and Byoungho Jin. "Is Uppsala model valid to fashion retailers? An analysis from internationalisation patterns of fast fashion retailers." Journal of Fashion Marketing and Management 18, no. 1 (March 4, 2014): 36–51. http://dx.doi.org/10.1108/jfmm-10-2012-0061.
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Purpose – Uppsala internationalisation theory is highly utilised due to its simplicity and applicability. However, there are contrasting results on its assumption that firms follow a gradual internationalisation process. Literature shows that firm strategies (e.g. targeting a niche market) and firm resources (e.g. brand image and asset specificity) may decrease barriers of entry. Global fashion retailers possess these characteristics and may not follow a gradual internationalisation pattern. Therefore, the purpose of this paper is to examine whether fashion retailers that target a niche market, have a strong brand image and asset specificity will follow a gradual internationalisation pattern suggested by Uppsala. Design/methodology/approach – Two aspects of internationalisation (speed of internationalisation and market selection) were analysed. Market selection was measured by three aspects of distance (geographic distance, economic distance, and culture distance). Data were collected utilising secondary sources and internationalisation patterns were calculated using existing formulas. Findings – Overall, results provided partial support for Uppsala model. After cautious expansion early in internationalisation, fashion retailers experience a period where rapid expansion exists. During initial internationalisation, geographically and economically close markets were chosen, which mirror the Uppsala model. However, no incremental patterns were observed thereafter. In addition, after initially moving to culturally close countries, firms moved to countries with close cultural proximity to each other rather than close to home market. Research limitations/implications – The findings are based on three cases of fast fashion retailers; thus, for further generalisation, if the findings will be applicable to other fashion firms which have different strategies and resources needs to be examined. Originality/value – This study is one of the first attempts to research the applicability of Uppsala model to fashion retailers. By investigating fashion retailers that target niche markets, have strong brand image and asset specificity; the paper adds additional empirical evidence of situations where internationalisation does not follow the linear pattern that Uppsala model argues.
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Buchanan, Frederick Robert, and Syed Zamberi Ahmad. "Business in developing countries: globalization of a large emerging market bank." Emerald Emerging Markets Case Studies 4, no. 6 (November 20, 2014): 1–16. http://dx.doi.org/10.1108/eemcs-07-2013-0133.
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Subject area Business Management, Global Marketing Strategy, Strategic Management, International Business, International Management. Study level/applicability The case is suitable for undergraduate and post-graduate business and management students. The case is based on secondary data collection and all the facts are real. Expected learning outcomes The expected learning outcomes include the selection of a foreign market; the determinants of the foreign mode of entry strategy; the process of integrating an internationalization strategy; how to choose the most appropriate partner; and the monitoring of international markets. The case provides a space to think about practice and help learners, therefore, to connect theory and practice. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Pechová, Jana. "Personnel trends in a globalised world." SHS Web of Conferences 74 (2020): 01024. http://dx.doi.org/10.1051/shsconf/20207401024.
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The labour market is the main external condition for personnel management and is influenced by population development, immigration policy of the state, globalization of the labour market and trends in the content of work activities. Human resources as grown in importance and value in the third millennium. Transforming human capital is a fundamental factor in the success of business in global markets. The development of economics leads to an increasing need for adaptability and flexibility of workers, a creative approach and, last but not least, the ability to acquire, choose, and retain talented workers from all over the world. Personnel trends in a globalised world is oriented towards a modern method of selection or development of workers with an emphasis on the criterion of creativity. The contribution represents the usual course of VAC with the standard criteria and offers a new VAC design in relation to the key competency of the 21st century which is creativity. The practical part of the contribution is a case study conducted qualitative research with representatives of Generation X and Y and respects the stated objective: to create a new VAC design with the selection or development criterion of creativity.
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Prestemon, Jeffrey P. "Evaluation of U.S. southern pine stumpage market informational efficiency." Canadian Journal of Forest Research 33, no. 4 (April 1, 2003): 561–72. http://dx.doi.org/10.1139/x02-198.
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The literature on informational efficiency of southern timber markets conflicts. Part of this conflict is because of differences in how efficiency was tested. In this paper, price behavior tests are based on deflated ("real") southern pine (Pinus spp.) sawtimber stumpage prices, using some of the same data and tests used in previous research and some new data and tests. Here, different results are found in many cases regarding price behavior, as compared with the existing literature. Using a valid and consistent data-based model selection procedure, augmented DickeyFuller tests cannot reject a null of a unit root for most deflated monthly and all quarterly southern pine timber price series evaluated. Regressions of long-term deflated timber price ratios on their own lags lead to results similar to those offered by other authors when not corrected for bias but produce fewer similarities when bias is addressed. The results of those regressions support a contention that most of the monthly series contain nonstationary as well as stationary components and that quarterly prices tested in this framework using data through 2001 are closer to pure nonstationary processes. These results have implications for harvest timing approaches that depend on serial dependence of timber prices, provide support for certain kinds of policy and catastrophic shocks modeling procedures, and address the validity of statistical approaches best suited to evaluating interconnections among timber markets.
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de Aguillar Pinho, Maria Luiza Carvalho, Angela Maria Cavalcanti da Rocha, Celso Roberto de Aguillar Pinho, and Cristiane Junqueira Giovannini. "“Monica and Friends”: the challenge to internationalize." Emerald Emerging Markets Case Studies 7, no. 2 (June 22, 2017): 1–26. http://dx.doi.org/10.1108/eemcs-06-2016-0139.
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Subject area International business or International marketing. Study level/applicability The case is recommended for undergraduate and graduate courses in the fields of international business and international marketing. The aim is to show students the problems that a family business in the animation industry faces while growing and internationalizing. Specifically, the case discusses the entry mode selection and market selection challenges faced by an emerging market company in the comic book and animation industry to operate overseas and compete with entertainment giants such as Disney and DC Comics. The case enables the instructor to discuss international market selection theories and evaluate entry modes. For graduate students, the international market selection can be further developed by using more robust concepts such as psychic and cultural distance. Case overview This case examines the trajectory of a pioneering company in the comic book and animation industries, and in the licensing of trademarks in Brazil. Mauricio de Sousa Productions was founded in 1959 and is considered to be one of the most successful cultural producers in the country. According to a leading Brazilian public opinion research agency, 97 per cent of Brazilian children and 96 per cent of their parents are familiar with the Monica and Friends characters. As one of the main players in the publishing market, with 86 per cent of market share, Mauricio de Sousa Productions has a product portfolio that goes beyond Monica and Friends comic strips: the company’s show on the Cartoon Network ranks third in audience viewing in the country and the company has produced animated movies, books, shows and games. However, despite its experience in publishing comic books in several countries, Mauricio de Sousa Productions (MSP)’s worldwide operations have not been as profitable and sustainable as expected. Aiming at expanding its global presence, MSP’s top management decided in 2014 to review the company’s internationalization strategy and operations to enhance the firm’s performance. Expected learning outcomes The case highlights the key factors facing firms when expanding from an emerging markets. Students are expected to discuss and evaluate options, thus developing their knowledge and decision processes related to family-owned business challenges and opportunities, international market selection theories and international market entry mode. Developing strategies to face challenges as those presented by competitors such as Disney should bring opportunities to students to think outside models and weigh risks. Finally, the case gives students opportunity to base their decision processes and evaluations on logistics problems as well as psychic and cultural distances. It also compels the students to appreciate the various challenges involved in exploiting international market with animation content and intellectual properties as a service. Supplementary materials Company presentation to use in the discussion introduction can be found in: www.monicaandfriends.com/content/video.php Subject code CSS 5: International business.
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Bekkers, René. "Global Giving." Journal of Trial and Error 1, no. 1 (December 2, 2020): 72–100. http://dx.doi.org/10.36850/rga2.
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Why do citizens in some countries take more responsibility for the well-being of others than in other countries? This project seeks to understand the genesis of prosociality, investigating its biological foundations, the influence of cultural traditions, and effects of political, economic and legal structure. The dominant theory in economics views philanthropy as a solution to social illnesses that the market and the state are not solving, a view complementary to political science theory on preferences for government provision. Sociologists focus on social norms emerging from religious traditions. Cultural evolutionary theory highlights the instrumental value of trust. Still other theories have suggested a role for natural selection of genes. However, these theories have not been tested stringently nor simultaneously. Also the project includes a very important factor largely ignored thus far: political, legal and economic institutions also affect the level of giving as well as who gives to which causes. Therefore, the objectives of Global Giving are (1) to map country differences in the size and nature of philanthropy across the world; (2) to develop and test multidisciplinary theories explaining these differences; (3) to facilitate international collaboration across disciplinary boundaries in research on philanthropy. The research draws upon 200 surveys recently harmonized by the PI and on new data on philanthropy to be collected among large samples in 145 countries across all continents. Collaboration with international networks of academics safeguards the validity of the questionnaires and experiments. Appropriate multilevel regression models will be used, the lack of which caused biases in previous research. An integrated understanding of philanthropy is useful not only for theory development, but also for government policy makers and practitioners in nonprofit organizations seeking to mobilize philanthropic contributions and make them more effective. The application in practice is ensured through collaboration with a large network of practitioners.
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Sudorgin, Oleg, Andrey Strygin, and Ekaterina Karelina. "Selection of Optimal Forms of Corporate Governance Model: Genesis and Trends of Selection in the Conditions of Post-Coronavirus Recovery of Economic Potential." SHS Web of Conferences 93 (2021): 03013. http://dx.doi.org/10.1051/shsconf/20219303013.
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Global macroeconomic changes in the growth rates of the world's leading countries in the 21st century are undergoing significant changes due to the obvious advantages of Asian forms of corporate governance models of the leading BRICS countries, including the Russian Federation. At the same time, based on the short, in comparison with developed market economies, experience of using corporate governance methods in the country, it seems expedient in the process of restoring the national economic potential to its pre-coronavirus level, to use a combination of Asian and a set of European-American models of corporate governance in the near future, what is motivated in this publication, based on the genesis of the formation, transformation and development of corporate governance in Russia.
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Tadić, Snežana, Mladen Krstić, Violeta Roso, and Nikolina Brnjac. "Dry Port Terminal Location Selection by Applying the Hybrid Grey MCDM Model." Sustainability 12, no. 17 (August 27, 2020): 6983. http://dx.doi.org/10.3390/su12176983.
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Globalization and decentralization of production generate the intensive growth of goods and transport flows, mostly performed by the maritime transport. Ports, as the main nodes in the global logistics networks, are becoming congested, space for their expansion limited, and traffic in their hinterland congested. As a solution to these and many other hinterland-transport-related problems stands out the development of dry port (DP) terminals. Selection of their location is one of the most important strategic decisions on which depends their competitiveness in the market and the functionality of the logistics network. Accordingly, the evaluation and selection of locations for the development of the DP in accordance with the requirements of various stakeholders is performed in this paper, as a prerequisite for the establishment of an ecological, economic, and socially sustainable logistics network in the observed area. To solve this problem, a new hybrid model of multi-criteria decision-making (MCDM) that combines Delphi, AHP (Analytical Hierarchy Process), and CODAS (Combinative Distance-based Assessment) methods in a grey environment is developed. The main contributions of this paper are the defined model, the problem-solving approach based on finding a compromise solution, simultaneous consideration of the environmental, economic, and social sustainability of the DP concept and its implementation in the regional international markets. The applicability of the approach and the defined MCDM model is demonstrated by solving a real-life case study of ranking the potential DP locations in the Western Balkans region. Based on the obtained results, it is concluded that in the current market conditions, it would be most realistic to open three DP terminals, in Zagreb, Ljubljana, and Belgrade.
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Wu, Renchao, and Athanasios A. Pantelous. "POTENTIAL GAMES WITH AGGREGATION IN NON-COOPERATIVE GENERAL INSURANCE MARKETS." ASTIN Bulletin 47, no. 1 (October 17, 2016): 269–302. http://dx.doi.org/10.1017/asb.2016.31.
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AbstractIn the global insurance market, the number of product-specific policies from different companies has increased significantly, and strong market competition has boosted the demand for a competitive premium. Thus, in the present paper, by considering the competition between each pair of insurers, an N-player game is formulated to investigate the optimal pricing strategy by calculating the Nash equilibrium in an insurance market. Under that framework, each insurer is assumed to maximise its utility of wealth over the unit time interval. With the purpose of solving a game of N-players, the best-response potential game with non-linear aggregation is implemented. The existence of a Nash equilibrium is proved by finding a potential function of all insurers' payoff functions. A 12-player insurance game illustrates the theoretical findings under the framework in which the best-response selection premium strategies always provide the global maximum value of the corresponding payoff function.
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Reddy, Y. V., and Subhash S. Naik. "Determinants of Goan SME Firms Going Global: Theoretical and Empirical Approach." Vikalpa: The Journal for Decision Makers 36, no. 2 (April 2011): 45–58. http://dx.doi.org/10.1177/0256090920110204.
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Choice of entry mode has been widely recognized as one of the critical decisions in a firm's internationalization. However, most of the research primarily focuses upon Western multinational enterprises rather than Indian state small-medium sized enterprises (SMEs). In the past, several major theories have been proposed but none of them is able to explain the choice from the complete set of entry modes. The purpose of this research is to understand the various entry modes, improve the selection decision, and explain the entry mode strategies of Goan SME firms in the international markets. A firm can deploy a variety of arrangements (entry modes) like wholly-owned subsidiaries, joint ventures, contracts, and export modes to implement its product market strategies in foreign countries. Each of these arrangements entails decisions about the location of production facilities and⁄or marketing operations, and the type of ownership of these operations. This study examines the internationalization behaviour of 200 randomly selected Goan SME firms. It examines the factors associated with each theory and seeks to integrate them to gain a better understanding of how SME businesses succeed in the international marketplace. The determinants under examination are also substantiated with the identification of several international SME entry mode models. The nine groups of determinants are: International planning experience, firm size, R&D intensity, competitive advantage, degree of standardization, demand intensity, economic development, regulation, and political risk. The proposed framework is an effort to fill the gap between theory and practice of entry mode choice. The framework is broader in scope than the extant theories because it transcends across industries and nationalities of firms. The primary objectives of the study are: (a) to identify the descriptive determinants that have been strongly associated with SME internationalization entry behaviour; and (b) to determine if the propensity of Goan SME firms will be significantly predicted using specific empirical analysis. Data for the study were obtained through a questionnaire used in numerous previous theories. The study used multivariate logistic regression analysis. The results from the hypothetical foreign market entry situation strongly support the propositions that firm-specific resources and host country factors, viewed as a source of sustainable competitive advantage, encourage involvement in foreign markets. One broad implication for managers is the importance of both analysing the characteristics of the chosen product market and critically examining the firm's capabilities in order to focus on what it does best, build upon it and, where necessary, complement this through collaboration with others.
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Komarova, Natalia V., and Sergey I. Slav. "Strategy for increasing the competitiveness of the Russian company in the global satellite communications market." Revista Amazonia Investiga 10, no. 41 (June 29, 2021): 177–87. http://dx.doi.org/10.34069/ai/2021.41.05.18.
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The article shows the relevance of work on developing a strategy for increasing the competitiveness of Russian Satellite Communications Company (RSCC) and degree of development of the problem. The logical structure of the research was formed, including such components as the object, subject, initial hypothesis, goal, methodological foundations and practical significance of the research. The mission of the studied RSCC is presented. The essence of the process of strategic planning for increasing competitiveness is investigated and the possibilities of determining the goals and structure of the company are revealed. The reasons for the low economic efficiency of using a standing point in a geostationary orbit for Russian companies are revealed and possible solutions to these problems are identified. There is the system of indicators by which the company loses to its competitors. The market segmentation by frequency resource is presented. The technology of selection of the frequency range by the client is shown. The key factors of the company's success in the global market have been identified and compared using these factors with the main competitors.
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Tsaur, Ruey-Chyn, Chien-Liang Chiu, and Yin-Yin Huang. "Fuzzy Portfolio Selection in COVID-19 Spreading Period Using Fuzzy Goal Programming Model." Mathematics 9, no. 8 (April 12, 2021): 835. http://dx.doi.org/10.3390/math9080835.
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While the international lockdown for the COVID-19 pandemic has greatly influenced the global economy, we are still confronted with the dilemma about the economy recession when the stock market hits record highs repeatedly. As we know, since portfolio selection is often affected by many non-probabilistic factors, it is of not easiness to obtain the precise probability distributions of the return rates. Therefore, fuzzy portfolio model is proposed for solving the efficient portfolio when the economy environment remains in vagueness for the future. To manage such an investment, we revise the Chen and Tsaur’s fuzzy portfolio model by using fuzzy goal programming model. Then, two numerical examples are illustrated by the proposed model which shows that the portfolio selection can be solved by the linguistic imprecise goal of the expected return. With different linguistic descriptions for the imprecise goal of expected return for the future stock market, the optimal portfolio selection that can be solved under different investment risks which is considered better than Chen and Tsaur’s model in real world situations. The sensitivity analysis with some parameter groups can be provided for more invested risk selection in the portfolio analysis.
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BALDACCHINO, GODFREY. "ISLAND ENTREPRENEURS: INSIGHTS FROM EXCEPTIONALLY SUCCESSFUL KNOWLEDGE-DRIVEN SMES FROM 5 EUROPEAN ISLAND TERRITORIES." Journal of Enterprising Culture 13, no. 02 (June 2005): 145–70. http://dx.doi.org/10.1142/s0218495805000100.
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Developing successful, indigenously-owned, small scale, export-oriented, manufacturing firms from small island locations is difficult but not impossible. This paper describes key outcomes of a research project which is reviewing a selection of such successful firms from 5 European island territories. Operating in the information and communication technology sector allows small island firms to compete successfully in export markets. They often do so by depending on the wide, 'extra-island' contacts and experiences of their 'global-local' entrepreneurial founder-owners, who often leverage start-up funds from private and personal sources. The absence of notable local market opportunities induces island entrepreneurs to 'export or perish', obliging a competitive strategy from inception.
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Banerjee, Rupa, Feng Hou, Jeffrey G. Reitz, and Tingting Zhang. "Evaluating Foreign Skills: Effects of Credential Assessment on Skilled Immigrants’ Labour Market Performance in Canada." Canadian Public Policy 47, no. 3 (September 1, 2021): 358–72. http://dx.doi.org/10.3138/cpp.2021-014.
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Formal educational qualification is increasingly built into immigrant selection systems in many countries, but in a global context, the transferability and portability of such qualifications has been questioned. In 2013, Canada introduced the requirement for a formal assessment of educational credential equivalence for applicants in the skilled worker category. In this study, we use a Canadian national immigration database and difference-in-differences methodology to investigate whether requiring formal Educational Credential Assessment (ECA) as part of the selection process for skilled immigrants has improved labour market outcomes. Our results indicate that the ECA requirement is positively related to early employment rates and earnings for both men and women. However, this effect is limited to those with no previous employment experience in Canada. We also find that, even with the ECA requirement, significant differences in the earnings of immigrants from different source regions remain. Implications and recommendations are discussed.
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Asgari, Moloud sadat, Abbas Abbasi, and Moslem Alimohamadlou. "Comparison of ANFIS and FAHP-FGP methods for supplier selection." Kybernetes 45, no. 3 (March 7, 2016): 474–89. http://dx.doi.org/10.1108/k-09-2014-0195.
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Purpose – In the contemporary global market, supplier selection represents a crucial process for enhancing firms’ competitiveness. This is a multi-criteria decision-making problem that involves consideration of multiple criteria. Therefore this requires reliable methods to select the best suppliers. The purpose of this paper is to examine and propose appropriate method for selecting suppliers. Design/methodology/approach – ANFIS and fuzzy analytic hierarchy process-fuzzy goal programming (FAHP-FGP) are new methods for evaluating and selecting the best suppliers. These methods are used in this study for evaluating suppliers of dairy industries and the results obtained from methods are compared by performance measures such as Mean Squared Error, Root Mean Squared Error, Normalized Root Men Squared Error, Mean Absolute Error, Normalized Root Men Squared Error, Minimum Absolute Error and R2. Findings – The results indicate that the ANFIS method provides better performance compared to the FAHP-FGP method in terms of the selected suppliers scoring higher in all the performance measures. Practical implications – The proposed method could help companies select the best supplier, by avoiding the influence of personal judgment. Originality/value – This study uses the well-structured method of the fuzzy Delphi in order to determine the supplier evaluation criteria as well as the most recent ANFIS and FAHP-FGP methods for supplier selection. In addition, unlike most other studies, it performs the selection process among all available suppliers.