Journal articles on the topic 'Share price responses'
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Brennand, Garry J. "Asymmetric fuel share responses to relative price movements." OPEC Review 16, no. 3 (September 1992): 309–25. http://dx.doi.org/10.1111/j.1468-0076.1992.tb00435.x.
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Kichko, Sergey. "Competition, land prices and city size." Journal of Economic Geography 20, no. 6 (December 3, 2019): 1313–29. http://dx.doi.org/10.1093/jeg/lbz037.
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Abstract Larger cities typically give rise to two opposite effects: tougher competition among firms and higher production costs. Using an urban model with substitutability of production factors and pro-competitive effects, I study product market responses to an increase in city population, land-use regulations and commuting costs. I show that those responses depend on the land intensity in production. If the input share of land is low, a larger city attracts more firms setting lower prices, whereas for an intermediate land share, city expansion increases both the mass of firms and product prices. For a high land share, the mass of firms decreases with city size while product price increases. Softer land-use regulations and/or lower commuting costs reinforce pro-competitive effects, making city residents better-off via lower product prices and broader diversity.
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Yanuar, Nyoman Suprastha,. "Exchange Rate And Asean Share Price: An Analysis Of Asimmetry Response." Jurnal Manajemen 23, no. 1 (March 25, 2019): 68. http://dx.doi.org/10.24912/jm.v23i1.445.
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The purpose of this study is to examine whether these markets react differently to market upturns and market downturns of markets using VAR models. This study finds that following:. First, in line with many studies on international interdependencies of equity prices,. Second, the evidence strongly suggests significant responses of the ASEAN markets to the US exchange rate downturns Third, the pattern of responses based on impulse response functions further substantiate asymmetric responses of these markets to positive and negative shocks in the US exchange rate. Practical implications, suggest that the benefits of international portfolio diversification. The originality of study is exchange rates US have an impact on ASEAN stock market integration.
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Lambert, David K., and Jian Gong. "Dynamic Adjustment of U.S. Agriculture to Energy Price Changes." Journal of Agricultural and Applied Economics 42, no. 2 (May 2010): 289–301. http://dx.doi.org/10.1017/s1074070800003461.
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Energy prices increased significantly following the first energy price shock of 1973. Agricultural producers found few short run substitution possibilities as relative factor prices changed. Inelastic demands resulted in total expenditures on energy inputs that have closely followed energy price changes over time. A dynamic cost function model is estimated to derive short and long run adjustments within U.S. agriculture between 1948 and 2002 to changes in relative input prices. The objective is to measure the degree of farm responsiveness to energy price changes and if this responsiveness has changed over time. Findings support inelastic demands for all farm inputs. Statistical results support moderate increases in responses to energy and other input price changes in the 1980s. However, demands for all inputs remain inelastic in both the short and long run. Estimation of share equations associated with a dynamic cost function indicates that factor adjustment to input price changes are essentially complete within 1 year.
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Höhler, Julia, and Julia A. Schreiner. "Unfair milk prices? Lessons from a split-sample choice experiment." British Food Journal 122, no. 2 (November 23, 2019): 515–30. http://dx.doi.org/10.1108/bfj-04-2019-0298.
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Purpose In times of “milk price crises”, “fair” milk prices are repeatedly demanded. Various studies indicate an increased willingness to pay (WTP) for the additional attribute of price fairness. Nevertheless, market shares have been low so far. The purpose of this paper is to discuss three possible reasons for this: low reference prices, socially desirable responses in choice experiments and the lack of justification of the claim “fair” by further attributes. Design/methodology/approach In a split sample, one group facing alternatives with a higher price range and the other with a lower price range, the consumer’s choices are examined. This study uses a social desirability scale for controlling biases in the stated WTP. In addition, the claim “fair” is complemented with a guaranteed price, grazing, regional production and CO2-reduction. A random parameter logit model specified in WTP space is employed to estimate milk consumers’ (n=480) preferences for “fair” milk. Furthermore, a latent class approach reveals information about the source of preference heterogeneity for fair milk attributes among the two groups of the split sample. Findings This study finds statistically significant differences between the two price ranges. In the low price range, additional attributes can trigger an additional WTP. In the high price range, there is no statistically significant additional WTP. WTP’s dependence on price levels could explain why the market share for “fair” milk has so far been low. Originality/value This paper contributes to the study of the effect of split samples in choice experiments. In addition, it promotes the understanding of price fairness in milk and its determinants.
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O'NEILL, T. J., J. H. W. PENM, and R. D. TERRELL. "THE SEQUENTIAL ESTIMATION OF SUBSET VAR WITH FORGETTING FACTOR AND INTERCEPT VARIABLE." International Journal of Theoretical and Applied Finance 07, no. 08 (December 2004): 979–95. http://dx.doi.org/10.1142/s0219024904002803.
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In this paper we propose a forward time update algorithm to recursively estimate subset vector autoregressive models (including an intercept term) with a forgetting factor, using the exact window case. The proposed recursions cover, for the first time, subset vector autoregressive models (VAR) with a forgetting factor and an intercept variable. We then present two applications. In the first application we apply the proposed estimation algorithm to the quarterly aluminium prices on the London Metal Exchange. The findings show that the proposed algorithm can improve the forecasting performance. In the second application a bivariate system investigates the relationship between the Australian's All Ordinaries Share Price Index (SPI) futures and BHP share price (BHP). The proposed algorithm also introduces the Monte Carlo Integration approach into the proposed algorithm to generate error bands for the impulse responses. These results confirm that the SPI Granger causes BHP, but not vice versa.
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Eickmeier, Sandra, and Markus Kühnlenz. "CHINA'S ROLE IN GLOBAL INFLATION DYNAMICS." Macroeconomic Dynamics 22, no. 2 (September 28, 2016): 225–54. http://dx.doi.org/10.1017/s1365100516000158.
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We apply a structural dynamic factor model to a large quarterly data set covering 38 countries between 2002 and 2011 to analyze China's role in global inflation dynamics. We identify Chinese supply and demand shocks and examine their contributions to global price dynamics and the transmission mechanism. Our main findings are as follows: (i) Chinese supply and demand shocks affect prices in other countries significantly. Demand shocks matter slightly more than supply shocks. Producer prices tend to be more strongly affected than consumer prices by Chinese shocks. The overall share of international inflation explained by Chinese shocks is notable (about 6 percent on the average over all countries but not more than 13 percent in each region). (ii) Direct channels (via import and export prices) and indirect channels (via greater exposure to foreign competition and commodity prices) both matter. (iii) Differences in trade and in commodity exposure help explain cross-country differences in price responses.
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Soon, Byung Min, and Jarrett Whistance. "Seasonal Soybean Price Transmission between the U.S. and Brazil Using the Seasonal Regime-Dependent Vector Error Correction Model." Sustainability 11, no. 19 (September 26, 2019): 5315. http://dx.doi.org/10.3390/su11195315.
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Soybean production and trade in the U.S. and Brazil are seasonal. Our research question is whether the seasonal tendencies cause the price relationship between U.S. and Brazilian soybean prices. Therefore, the objective is to test for seasonality in the price transmission between the U.S. and Brazil soybean prices using the seasonal regime-dependent vector error correction model (VECM). Our results show that the speed of the adjustment for the U.S. soybean price in the first half of the year is greater than the speed of the adjustment for the Brazilian soybean price. However, the pattern of their responses becomes the reverse in the second half of the year. The component share calculated by the result of the VECM with seasonal effects indicates that the U.S. dominates the world soybean market during the second half of the year while Brazil is dominant in the soybean market in the first half of the year. These results give us an important finding that we could not find using the VECM without seasonal effects. Finally, our results imply that the seasonal pattern of production in the U.S. and Brazil could cause the sustainability of the supply chain in the world soybean market.
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Min, Jae Hoon. "Information Spillover and Demand Shock Effect of the IPOs on the Stock Price of the Competitors: Evidence From the Korean Stock Market." International Journal of Financial Research 11, no. 5 (September 22, 2020): 1. http://dx.doi.org/10.5430/ijfr.v11n5p1.
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This paper examines the impact of IPOs on the stock prices of competing companies in the same industry in the Korean stock market. By observing the stock price responses of competitors at the time of IPO announcement and listing, this study attempts to separately examine the effect of IPO's information transfer and its impact on the stock demand of competitors. Before and after the IPO announcement, the stock prices of competitors did not change significantly. On the other hand, during the period surrounding the IPO stock listing, the stock price of competitors showed a significantly negative decline. This suggests that as the IPO stock related information was revealed through the public offering process, it negatively affected the stock price of competing companies. Also, the listing of IPO stocks seems to have adversely affected the stock demand for competing companies. In particular, among the effects of information transfer, the competitive effect is overwhelming, and the factors that influence relative competitiveness in the industry between competitors and an IPO company, such as operating profitability and R&D investment, are found to have a substantial influence on the share price of competitors.
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Güntner, Jochen H. F. "HOW DO INTERNATIONAL STOCK MARKETS RESPOND TO OIL DEMAND AND SUPPLY SHOCKS?" Macroeconomic Dynamics 18, no. 8 (June 7, 2013): 1657–82. http://dx.doi.org/10.1017/s1365100513000084.
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Building on Kilian and Park's (2009) structural VAR analysis of the effects of oil demand and supply shocks on the U.S. stock market, this paper focuses on the differences and commonalities of stock price responses in oil exporting and importing economies in 1974–2011. Structural oil price shocks add to our understanding of the 2008 stock market crash. I find that unexpected reductions in world oil supply do not affect stock returns in any of six OECD countries. Although an increase in global aggregate demand consistently raises oil prices and cumulative real stock returns, the effect is more persistent for oil exporters. Other, e.g., precautionary oil demand shocks have a detrimental impact on stock markets in oil-importing countries, a statistically insignificant effect for Canada, and a significantly positive effect for Norway. Oil price shocks account for a larger share of the variation in aggregate international stock returns than in national stock returns.
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Senteney, David L., Grace H. Gao, and Mohammad S. Bazaz. "ADR Accounting Principles Choice And The Market Reaction To Form 20-F." Journal of Applied Business Research (JABR) 30, no. 2 (February 27, 2014): 453. http://dx.doi.org/10.19030/jabr.v30i2.8417.
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In this study, we conjecture that non-U.S. firms, choosing to be listed on the major U.S. exchanges, will incur the added costs associated with the supplemental disclosure requirements in order to get that information impounded in the home country equity share price via the ADR share price in the manner described by Fishman and Hagerty (1989). More specifically, we evaluate the equity share response to U.S.-listed ADR Form 20-F filing in a manner similar to Chen and Sami (2009, 2008) anticipating that the incremental disclosures will prompt ADR and equity security share responses. Unlike prior studies, we investigate whether the Form 20-F filings prompt U.S. dominant cross-market information flows from the ADR share market back to the home country equity share market proportional to the incremental Form 20-F information. We employ bivariate and single equation models of the cross-market ADR and equity security share response to the filing, controlling for the firm-specific Form 20-F accounting principles choice. Preliminary results indicate that both ADR and equity security share markets respond to the Form 20-F filing. There is a strong indication that the U.S. ADR share market response dominates the cross-market information flow driving the home country equity share market response. Furthermore, we find that the cross-market response to ADR Form 20-F filing is not equal across the three available accounting principle choices in either the ADR share market or the home country equity share market. Our results are consistent with U.S. GAAP conveying the most of new price relevant information, IFRS, and local accounting standards being informative but not to the same extent.
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Al-Baidhani, A. M., A. Abdullah, M. Ariff, F. F. Cheng, and Y. Karbhari. "Earnings response coefficient: Applying individual and portfolio methods." Corporate Ownership and Control 14, no. 3 (2017): 188–96. http://dx.doi.org/10.22495/cocv14i3c1art4.
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This paper reports new findings from applying portfolio method, which shows a much bigger earnings impact on share prices (ERC) compared to the erstwhile reports of ERC using individual events, averaged over the sample. We estimate cumulative abnormal returns, CAR, across a test window for each quarterly earnings announcement event across one accounting year. The CARs are then regressed against earnings changes of individual firms and portfolios. The findings show a significant positive CAR when earnings increases; and a negative CAR if earnings declines. The ERC is very small in the test period of 2001-14, which is consistent with published results for years before 2000. The ERC size magnifies substantially due to the grouping effect used through portfolio formation. What is significant is that the use of portfolio method, by removing the idiosyncratic errors, show a price response very close to the size of earnings. The last evidence supports strongly the value relevance accounting theory that has not seen much support from averaging the price responses of individual event responses.
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Miller, J. Isaac, and Shawn Ni. "LONG-TERM OIL PRICE FORECASTS: A NEW PERSPECTIVE ON OIL AND THE MACROECONOMY." Macroeconomic Dynamics 15, S3 (November 2011): 396–415. http://dx.doi.org/10.1017/s1365100511000265.
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We examine how future real GDP growth relates to changes in the forecasted long-term average of discounted real oil prices and to changes in unanticipated fluctuations of real oil prices around the forecasts. Forecasts are conducted using a state-space oil market model, in which global real economic activity and real oil prices share a common stochastic trend. Changes in unanticipated fluctuations and changes in the forecasted long-term average of discounted real oil prices sum to real oil price changes. We find that these two components have distinctly different relationships with future real GDP growth. Positive and negative changes in the unanticipated fluctuations of real oil prices correlate with asymmetric responses of future real GDP growth. In comparison, changes in the forecasted long-term average are smaller in magnitude but are more influential on real GDP. Persistent upward revisions of forecasts in the 2000s had a substantial negative impact on real GDP growth, according to our estimates.
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Dewianawati, Dwi. "PENARIKAN MEREK PRODUK: EFEK INDUSTRI, STRATEGI PENARIKAN DAN BAHAYA PADA KEKAYAAN PEMEGANG SAHAM." Media Mahardhika 18, no. 3 (May 22, 2020): 521–35. http://dx.doi.org/10.29062/mahardika.v18i3.214.
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The purpose of this paper is to provide insight into the impact of product recalls on manufacturing company shareholders in various supply chains. Previous research investigating this phenomenon was dominated by sectoral units and/or did not recognize threat interactions, policy recalls and sectors. Using the case study process, the study explored investor responses to key market product recall characteristics, recall policies and hazard levels, in a cross-industry survey of 295 product recall notices. The findings revealed a strong negative response from the share price to product recalls and a significant variation between the type of business and its level of danger. More controlled and tighter supply chains, such as the car and pharmaceutical markets, have shown statistically substantial share price declines. The findings suggest that the business sector and the level of harm associated with defective goods are major factors affecting the shareholders of manufacturing companies. Contrary to some reports, the effects of the recall policy have not been verified, although the recall campaign has proactively, in some cases, contributed to the rise in the share price. This study will further benefit from a more thorough investigation of recall strategies on business assessments in certain industries, especially those vulnerable to regular and expensive product recalls.
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Nageri, Kamaldeen Ibraheem. "Evaluating Good and Bad News During Pre and Post Financial Meltdown: Nigerian Stock Market Evidence." Studia Universitatis Babes-Bolyai Oeconomica 64, no. 3 (December 1, 2019): 1–22. http://dx.doi.org/10.2478/subboec-2019-0012.
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Abstract The Nigerian stock market, prior to the 2007-09 global financial crisis witnessed growth but the market encountered sharp reversal from 2007 due to the global financial crisis. This study evaluates good and bad news on the Nigerian stock market with regards to the policy responses as a result of the meltdown. The study used the TGARCH, EGARCH and PGARCH models under three error distributional assumptions for data covering January 2010 to December 2016 using the All Share Index to generate the return series. Findings shows that good news impact return more than negative news of the same magnitude before the meltdown while bad news insignificantly impact return more than positive news after the meltdown. The study concludes that there is information asymmetry in the Nigerian stock market. Thus, it is recommended that on-line real time access to share price movement for investors should be introduced to improve liquidity level and enhance free flow of relevant securities information.
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Park, Jin, and Jungwon Suh. "Premiums and Stock Price Responses in Equity-Stake Purchase Deals in Korea’s Stock Market." Korean Journal of Financial Studies 49, no. 5 (October 31, 2020): 709–40. http://dx.doi.org/10.26845/kjfs.2020.10.49.5.709.
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In this study, we examine a sample of 160 equity-stake purchase deals between companies listed on Korea’s stock market during 2009~2017. The sample comprises deals in which acquiring firms buy at least 5% of the target’s common stock but excludes mergers or acquisitions of the target’s entire equity. The deal premium is measured by the difference between the deal price and the target’s share price a day or a week before the deal’s announcement. We find that although the deal premium tends to increase with the size of the equity stake in the target, it is negative in about half of the sample and its median value is close to zero. Moreover, the deal premium is positively associated with the won value of the deal size relative to acquiring firms’ assets but negatively associated with their quality (measured by operating profitability) and size of insider ownership. We also analyze stock price responses to deal announcements. For acquiring firms, the mean cumulative abnormal return over (-2, 2) (i.e., CAR (-2, 2)) is not statistically significant but CAR (-2, 2) increases with deal premium and the target’s operating performance. For target firms, the mean CAR (-2, 2) is significantly positive (approximately 1.6%) but we cannot identify factors that are systematically associated with their CAR (-2, 2).
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Leung, Daniel, and Megan Tsou. "The impact of incentive framing format and language congruency on readers’ post-reading responses to email advertisements." International Journal of Contemporary Hospitality Management 31, no. 8 (August 12, 2019): 3037–57. http://dx.doi.org/10.1108/ijchm-06-2018-0514.
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Purpose This paper aims to examine how incentive framing format and language congruency interactively influence readers’ post-reading responses to hotel-related email advertisements. Design/methodology/approach A 2 (incentive framing format: amount-off versus percentage-off) × 2 (language congruency: use of readers’ native language versus use of readers’ foreign language) between-subject experiment was conducted with 233 bilingual speakers from China. Findings The findings unveil that readers are more likely to be enticed to search for more information about the promoted hotel restaurant, click the call-to-action button and share the promotional message with friends and families if an email advertisement presents the incentive of a price promotion in the form of amount-off (versus percentage-off). The indirect impact of language congruency is also verified. Specifically, the impact of incentive framing format on readers’ post-reading response is more salient when information is communicated using readers’ native (versus non-native) language. Practical implications The findings provide actionable clues for hoteliers to optimize their email marketing campaigns. If hotels want to publicize a price promotion for their high-priced service (e.g. hotel restaurant dining) via email advertisements, marketers should present the incentive in the form of amount-off. Hotels should also personalize the language used in the email advertisements according to readers’ native language. Originality/value This study enriches the literature on email marketing by explicating how hoteliers can improve the efficacy of email marketing via personalizing the incentive framing format and language used in the email advertisement according to the readers’ preferences.
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Wang, Ya-Hui, and Chien-Tai Wu. "The Share Price Responses and Determinants of Strategic Alliances in Taiwan's High-Tech Industry: A Quantile Regression Approach." Review of Pacific Basin Financial Markets and Policies 07, no. 03 (September 2004): 355–78. http://dx.doi.org/10.1142/s0219091504000184.
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This article investigates share price responses to strategic alliances in Taiwan's high-tech industry from 1996 to 1999. We analyze the determinants of abnormal returns caused by strategic alliances using a quantile regression estimation procedure. Our empirical findings show that the wealth effect for a strategic alliance is positive, with no evidence of a wealth transfer between alliance partners. In addition, intra-industry alliances show significantly higher abnormal returns than inter-industry alliances. The horizontal and vertical alliances both have significantly positive abnormal returns, but the positive effect of vertical alliances primarily comes from downstream buyers. On the other hand, results from a quantile regression model show that the P/B ratio, director and supervisor shareholding ratios, and R&D ratio are important determinants of abnormal returns of strategic alliance announcements. Our empirical findings are consistent with the argument that the organizational flexibility offered by alliances is valuable to the high-tech industry which needs to cope with a fast-changing environment.
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Szép, Tekla, Mohammad Jaber, and Mohammad Kashour. "Changing European Energy Policy : The Challenge of the Energy Price Storm." Theory, Methodology, Practice 18, no. 2 (2022): 69–82. http://dx.doi.org/10.18096/tmp.2022.02.04.
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This paper examines the roots of the European energy crisis within the period of 2021–2022, the reasons for the European gas shortage, the effect of the Russian invasion of Ukraine, and the potential EU responses. The current crisis is a result of several factors, starting from the Covid-19 pandemic in 2020 and amplified severely by the current conflict between Russia and Ukraine. In addition, five reasons were identified as worsening the EU energy situation. These include market-based gas prices, external dependency, global imbalances, the EU's climate policies, and low European energy stocks. The Russian invasion of Ukraine put pressure on the oil and gas supplies to the EU. This situation led the EU to introduce sanctions and measures that target increasing the share of renewable energy while reducing the dependence on Russian gas. Finally, we shed light on the energy transition as an opportunity to deal with climate change and limited energy resources while also showing the challenges that would hinder a just transition.
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Deef, Alaa, and Mohamed Sami Radi. "Adopting IFRS as a Moderating Variable on the Relationship Between Accounting Information and Market Responses." International Journal of Customer Relationship Marketing and Management 13, no. 1 (January 1, 2022): 1–15. http://dx.doi.org/10.4018/ijcrmm.308467.
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The purpose of this paper is to examine the impact of adopting International Financial Reporting Standards (IFRS) on the relationship between accounting information and market responses. We investigate the impact of the IFRS adoption on financial statements quality and whether this impact, if any, has a positive implication of the capital market (especially, market liquidity and equity value). Data were collected from 147 non- financial firms listed on the Saudi exchange for the period 2015-2019. The findings show that disclosure quality has increased because of IFRS adoption. Moreover, the results find that the adoption of IFRS improves market liquidity and increases the share price of firms listed on the Saudi exchange. Our findings show that adopting IFRS have positive economic implications on the Saudi business environment.
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M.O., Oladejo, and Adedokun R.A. "Value Relevance and Users Confidence in Post International Financial Reporting Standards Adoption Era of Nigerian Banks." Journal of Advance Research in Business Management and Accounting (ISSN: 2456-3544) 3, no. 12 (December 31, 2017): 01–18. http://dx.doi.org/10.53555/nnbma.v3i12.46.
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Conclusions from the existing studies on IFRS adoption and value relevance were characterized by conflicting results and mixed findings. This study attempts to evaluate the impact of adoption of International Financial Reporting Standards (IFRS) on the value relevance of financial information of Nigerian Deposit Money Banks. A mixed research approach was adopted for this study. To analyze the secondary data correlational research design was employed using Edward, Bells and Olhson (EBO) model. Primary data through structured questionnaire administered on a sample of 200 randomly selected preparers and users of banks financial statements was also used to provide alternative evidence. Data were analyzed using descriptive and econometric approaches. General least square (GLS) multiple regression analyses were employed to analyze the panel data based on random effect model using SPSS 17 statistical tool.The results from data analysis showed r calculated of 0.69 indicating a significant relationship between adoption of IFRS variables and value relevance indexes in the NDMBs, from the analysis of questionnaire responses. The relationship, using EBO model, between the variables used for post IFRS adoption analysis shows that share price (SP) is positively correlated with earning per share (EPS), change in earnings per share (CEPS) and book value per share (BVPS) at 0.368, 0.096 and 0.103 respectively meaning that SP and EPS have higher positive relationship but lower with CEPS and BVPS. Invariably, higher earnings attract higher SP which automatically enhances the confidence of investors in the financial statements after the adoption. The pre-IFRS R-squared is 0.35 while post-IFRS R-squared is 0.16 showing that post IFRS financial information has a weak value relevance. However, the elements that made up financial information are not value relevant in post IFRS adoption thereby giving a low cumulative relationship to share price. The study suggests concerted efforts by banks to strengthen the value relevance and improve users’ confidence of their financial reports since IFRS adoption has been made mandatory.
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Tai, Pham Duc, Malcolm Ringland Anderson, Truong Ton Hien Duc, Tung Quang Thai, and Xue-Ming Yuan. "Strategic information sharing in supply chain with value-perceived consumers." Industrial Management & Data Systems 122, no. 4 (March 22, 2022): 841–63. http://dx.doi.org/10.1108/imds-03-2021-0190.
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PurposeInformation sharing is one of essential collaboration methods for building effective system-level disruption responses and communication for supply chain resilience. However, supply chain members are often reluctant to share the members' business information for fear of losing competitiveness. To facilitate the cooperation among these members, the supply chain members' should be made aware of the value of information. As a result, the purpose of this paper is to quantify the benefit of information sharing and evaluate its magnitude under various factors.Design/methodology/approachIn this paper, information sharing is measured in a two-stage supply chain containing a manufacturer and a retailer. A demand function is constructed as a linear combination of a first-order autoregressive [AR(1)] process, the retail and reference prices. The values of information sharing are quantified for four scenarios: (1) no information sharing, (2) full information sharing, (3) limited information sharing and (4) partial information sharing. Based on the four scenarios, the conditions for valuable information sharing are determined. In addition, the impact of several demand parameters on the usefulness of information sharing is analyzed.FindingsWhen the demand function is a pure AR(1) process (i.e. there is no impact from the retail and reference prices), information sharing is always valuable regardless of the autoregressive coefficient. Under the influence of the retail price and consumer behavior via the reference price, information sharing is not always beneficial. The boundaries for useful information sharing are analytically constructed. In addition to full information sharing, this study also quantifies the value of information under a partial sharing scheme. The results indicate that the information is more valuable as long as the information is inducible.Originality/valueThis study highlights several specific conditions for a beneficial information sharing agreement in consideration of consumer behaviors. These conditions enable supply chain members to design a sustainable partnership.
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Thanasuta, Kandapa. "Thai consumers’ purchase decisions and private label brands." International Journal of Emerging Markets 10, no. 1 (January 19, 2015): 102–21. http://dx.doi.org/10.1108/ijoem-02-2011-0016.
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Purpose – Private label brands have achieved double-digit growth in the Thai market. To expand market share, private label brands need to identify clearly what triggers consumer purchases. The purpose of this paper is to investigate the relationship between consumer decision-making styles and actual purchases of private label products in a Thai market context, using price consciousness, quality consciousness, brand consciousness, value consciousness, and risk perception as factors for investigation. Design/methodology/approach – Responses from a total of 240 respondents from four product categories were collected through mall intercepts in five hypermarkets and supermarkets in Bangkok, and a regression-based model was employed to identify the associations. Findings – The results indicate a significant relationship between price-conscious and brand-conscious consumers, and private label purchases and show that the relationship between quality-conscious, value-conscious, and risk-adverse consumers and private label purchases is insignificant. It concludes that price-conscious consumers are the ones most likely to purchase private label products in low-differentiation categories. An opposite relationship prevails for consumers who are brand conscious in low-differentiation, high-risk, and low-risk categories. Research limitations/implications – The outcomes of this research suggest that private label brands should maintain a low-price strategy while striving for continuous improvement in quality to capture additional quality- and value-conscious consumers. It also suggests that national brands invest in brand-building strategies rather than competing on price. Originality/value – This study enhances an understanding of consumer decision-making characteristics for actual private label purchases rather than the intention to purchase and is useful in suggesting an alternative to socio-economic factors as a method of identifying private label purchasers.
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Moncarz, Pedro Esteban, and Sergio Victor Barone. "Rising commodity prices and welfare in Brazil." International Journal of Emerging Markets 15, no. 5 (December 16, 2019): 1029–60. http://dx.doi.org/10.1108/ijoem-02-2019-0091.
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Purpose Brazil, a large developing economy whose main exports consist of primary commodities, benefited greatly from the boom in commodity prices during the first decade of the current century. However, with a large share of its population with low and very low incomes, there is a potential for some adverse redistributive effects. The purpose of this paper is to address this issue by simulating the ex ante effects using a mixed endogenous–exogenous social accounting matrix (SAM) price model. Design/methodology/approach The methodology consists of two parts. First, using a mixed endogenous–exogenous SAM price model, the authors obtain the elasticities of domestic prices (goods, services and factors) in response to the increase in international prices of three types of commodities: agricultural, oil/gas and minerals. Second, the authors run micro-simulations at the household level on welfare effects, as well as on some distributive indices. Analysis at the regional level is also carried out. Findings Following increases in the international prices of primary commodities, the responses of internal prices (goods, services and factors) mean a welfare loss all over the entire distribution of household per capita expenditure; the least affected are those households at the low end and around the median of the distribution. However, the differences among households are not very important. Moreover, once we take into account government transfers and payments from social security, the magnitude of the effects reduces even further. Also, inequality indices and poverty rates show little responsiveness to the simulated shocks. Finally, poorer regions are the most likely to be affected, but also the distribution of effects across households shows differences between regions. Originality/value Economies with comparative advantages in the production of primary commodities can benefit at a macro-level from the increase in the international prices of such commodities. However, when a large part of the population spends a high proportion of its income on goods whose prices may be affected by the increase in commodity prices, there is a room for some undesirable effects from a redistributive standpoint. This study provides valuable results about such potential effects for Brazil, a large developing economy.
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Chowdhury, Mahzabin, Khan Salam, and Richard Tay. "Consumer preferences and policy implications for the green car market." Marketing Intelligence & Planning 34, no. 6 (September 5, 2016): 810–27. http://dx.doi.org/10.1108/mip-08-2015-0167.
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Purpose The purpose of this paper is to understand consumer preferences for green vehicles with low fuel consumption and emission. It will examine six important vehicle attributes, including fuel efficiency and CO2 emissions, and determine the impacts of increasing demand for green attributes on the domestic car industry in Sweden. Design/methodology/approach Responses to an adaptive choice-based conjoint experiment from a sample of 100 residents in Northern Sweden were analyzed using monotone regression and market simulation. Findings The authors found that consumer preferences were sensitive to changes in fuel efficiency and emission levels. However, engine power was the most important attribute for existing owners whereas price was the most important one for potential customers, while both market segments valued emission more than fuel efficiency. Also, the domestic producer will benefit from both an increase in market size and market share if all new vehicles have higher fuel efficiency but its market share will decrease if all new vehicles have lower CO2 emissions. Social implications Although promoting green vehicle purchase is beneficial for the environment, policy makers also need to balance this benefit against any potential adverse effect on the domestic industry and the economy. This study will provide evidence-based recommendations to increase the share of green cars in new vehicle purchase, and thus contribute to improving the environment. Moreover, it will also predict the changes in the market shares of different vehicles, and the potential impact on the domestic automobile manufacturing sector and the economy. Originality/value This study will contribute significantly to the understanding of consumer preferences by exploring the preferences of a sample of consumers from a country with a well-established alternative fuel and green car market but has adverse weather and driving conditions and a domestic automobile manufacturing industry. It will also examine the differences in preference between existing owners and potential green car buyers. Finally, it will simulate the effects of changing fuel efficiency and emission levels on consumer utility and preference shares to predict changes in market share of different vehicles, and thus the potential impact on the domestic automobile manufacturing sector and the economy.
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Chen, Juan, Anna Tikina, Robert Kozak, John Innes, Peter Duinker, and Bruce Larson. "The efficacy of forest certification: Perceptions of Canadian forest products retailers." Forestry Chronicle 87, no. 05 (October 2011): 636–43. http://dx.doi.org/10.5558/tfc2011-070.
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A nation-wide survey of wood products retailers was conducted to examine their perceptions related to forest certification and its impacts in the market place. Four widely accepted forest certification standards were taken into account: International Organisation for Standardization (ISO) 14001, Forest Stewardship Council (FSC), Sustainable Forestry Initiative (SFI), and the Canadian Standards Association (CSA) Z809 Standard. The survey inquired about the economic impacts of forest certification, namely wood purchasing policies and the potential for price premiums on certified wood products. The responses indicated that most retailers had no particular purchasing policies for certified products. However, they reported up to a 20% price premium on certain certified products, although the number of consumers who request certified wood products was small (less than 10%). The retailers also indicated that the most important reasons for buying or selling certified forest products revolved around improved company image, being an environmental leader in the field, and maintaining or increasing market share. Finally, respondents felt that forest certification had minimal impacts on the social aspects of forest management, while the environmental and economic aspects of forest management were perceived to be subject to more marked changes.
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Amanda, Annisa Lutvy, Desi Efrianti, and Bintang `Sahala Marpaung. "Analisis Pengaruh Kandungan Informasi Komponen Laba Dan Rugi Terhadap Koefisien Respon Laba (Erc) Studi Empiris Pada Perusahaan Manufaktur Sektor Industri Dasar Dan Kimia Yang Terdaftar Di Bursa Efek Indonesia (Bei)." Jurnal Ilmiah Manajemen Kesatuan 7, no. 1 (May 16, 2019): 188–200. http://dx.doi.org/10.37641/jimkes.v7i1.212.
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The income statement can be a reliable decision-making material, if the income statement has a valuable information content. Profit (loss) information is said to be valuable if the information contained in the income statement causes the movement of market reaction. The market reaction is indicated by a change in the price of the relevant securities which is typically measured using the stock return as the value of the change. Return or share price in response to earnings information can be measured using earnings response coefficient or ERC (Earnings Responses Coeffficient).
The purpose of this research is to analyze the influence of each independent variable that is PEPS, LEPS, PORD, LORD, POP, LOP, PFIN, LFIN, PEXT, LEXT, TAX and Book Value control variable to dependent variable that is Coefficient of Profit Response (ERC) . This research was conducted on 33 companies manufacturing basic industry sectors and chemicals in 2012 until 2015. Supporting data used are financial statements obtained from www.idx.co.id in the year 2012-2015. From the research that has been done show that the variables of PEPS, PORD, POP, PEXT have information content that influence to earnings response coefficient (ERC) while LEPS, LORD, LOP, PFIN, LFIN, LEXT, TAX do not have information content that influence to coefficient Profit response (ERC).
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Filbeck, Greg, and Xin Zhao. "Supply Chain Disruptions." International Journal of Information Systems and Supply Chain Management 13, no. 3 (July 2020): 78–108. http://dx.doi.org/10.4018/ijisscm.2020070105.
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This study expands the work on contagion effects caused by supply chain disruptions beyond the impacted firm and competitors to its customers and suppliers. Using hand-collected data, we analyze the news announcements to determine those that resulted in disruptions in supply, demand, production, inventory, distribution, or transportation at one or more stages of a supply chain across different types of disruptions and across six market segments. Using event study methodology and regression analysis, we find statistically significant negative share price responses to announcement of supply chain disruptions for the affected firm and its competitors, but not for consumer and supplier firms. Competitors in more concentrated industries, with higher growth prospects, or with higher debt ratios, are more impacted by disruptions by peer firms. Customers firms in less competitive industries, who exhibit higher risk, or have overall lower sales react more negatively to disruption announcements.
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Deal, Philip T., and David A. Sabatini. "An assessment of penetration for pay-to-fetch water kiosks in rural Ghana using the Huff gravity model." Journal of Water, Sanitation and Hygiene for Development 10, no. 4 (October 22, 2020): 670–79. http://dx.doi.org/10.2166/washdev.2020.034.
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Abstract Safe water enterprises across the developing world are attempting to meet demand for higher levels of water service. Existing, often free, water sources can make it difficult for these businesses to convince consumers to use a better-quality source or capture sufficient revenue for cost recovery. For this reason, it is imperative to develop a realistic understanding of penetration for small-scale water utilities. A cross-sectional assessment of 60 rural communities was used to evaluate the market share of a private service provider in Ghana. Household survey responses were used to identify the most attractive qualities of available water sources. Distance, taste, appearance, and affordability were found to be the most common motivational drivers. Using this information, a Huff gravity model was developed to assess the actual and potential market penetration and market share for the company in each community. The model and actual results agreed that about 38% of respondents would be regular customers at the given price. Even if water were free, the model predicted that the attractiveness of other sources would make it difficult to capture more than 58% of the sampled households. This illustrates the complexity of the water service ecosystem in a developing, rural context.
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Grubel, Herbert G. "The Making of Canadian Economists - Results of a Survey of Graduate Students." Canadian Journal of Higher Education 21, no. 3 (December 31, 1991): 1–23. http://dx.doi.org/10.47678/cjhe.v21i3.183108.
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The responses to questions by 155 students revealed the following, most important facts. The students predominantly came from families with high incomes. They have leftist political leanings, though through their training, more have turned right than left. The students share most strongly the views on fundamental propositions in economics held by U.S. graduate students and less those held by Canadian and U.S. professionals. Students from different Canadian universities hold very similar views on price-theoretic propositions but rather widely differing views on some important issues of macro-economics and income distribution. The most important finding is that, like their U.S. colleagues, Canadian graduate students believe that for professional success it is more important to learn technical skills rather than about institutions, history and policy. As a result they end up poorly prepared for work on economic policy issues and their research tends to lack real world relevance, even though real world and policy problems attracted them to the graduate programs.
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Chen, I.-Fen, and Shao-Chi Chang. "The intra business group effects of alliance network extensions." Management Decision 54, no. 6 (July 11, 2016): 1420–42. http://dx.doi.org/10.1108/md-06-2015-0223.
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Purpose – The purpose of this paper is to better understand the influence of business group membership by exploring how actions by a member firm influence other firms in the business group. Specifically, the authors ask two questions in this study: when a member firm forms strategic alliances with partners outside of the business group, how does the alliance influence other members in the business group? Moreover, which types of member firms are more affected than others? Design/methodology/approach – The authors employ standard event-study methodology to examine the stock price responses for the focal and member firms on the announcement of an alliance. Moreover, the authors employ the cross-sectional regression analyses to test hypotheses concerning the impact of alliance, group, and firm characteristics on the cumulative abnormal returns of non-announcing members. All regressions are estimated using ordinary least squares. Findings – The results show that, on average, alliance-announcing member firms experience significantly positive share price responses to announcements of strategic alliances. Moreover, the impact of alliance formation spillover to other non-announcing members in the business group. The authors also find that the influences on the non-announcing members are dissimilar. The non-announcing members are more strongly affected when they are in different industries from the non-member partner, and when the ownership of the business group is more concentrated. Originality/value – This study is to extend the resource complementarities perspective, which may help firms to more effectively configure their network portfolios in order to develop synergies among related network resources. The study thus extends the alliance portfolio literature to the literature on business groups. Since the inter-firm networks within business groups are more complex than those in alliance portfolios, the authors are able to study how the structure of a business, such as ownership concentration, can influence the intra-network effect.
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Kim, Youngju, SunAh Kim, and Neeraj Arora. "GMO Labeling Policy and Consumer Choice." Journal of Marketing 86, no. 3 (February 23, 2022): 21–39. http://dx.doi.org/10.1177/00222429211064901.
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Most scientists claim that genetically modified organisms (GMOs) in foods are safe for human consumption and offer societal benefits such as better nutritional content. However, many consumers remain skeptical about their safety. Against this backdrop of diverging views, the authors investigate the impact of different GMO labeling policy regimes on the products consumers choose. Guided by the literature on negativity bias, structural alignment theory, and message presentation, and based on findings from four experiments, the authors show that consumer demand for GM foods depends on the labeling regime policy makers adopt. Both absence-focused (“non-GMO”) and presence-focused (“contains GMO”) labeling regimes reduce the market share of GM foods, with the reduction being greater in the latter case. GMO labels reduce the importance consumers place on price and enhance their willingness to pay for non-GM products. Results indicate that specific label design choices policy makers implement (in the form of color and style) also affect consumer responses to GM labeling. Consumer attitudes toward GMOs moderate this effect—consumers with neutral attitudes toward GMOs are influenced most significantly by the label design.
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Harahap, Tetty Rahmiati, Riana Sitio, and Hidayatul Mazidah. "The Influence of Ease of Use, Social Media, Price, and Consumer Trust on Purchase Intentions Using the TikTok Shop by Labuhanbatu Students." Daengku: Journal of Humanities and Social Sciences Innovation 2, no. 6 (December 8, 2022): 886–94. http://dx.doi.org/10.35877/454ri.daengku1360.
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The era of digitalization is undoubtedly very influential on people's lifestyles. Digitalization affects all lines of people's lives in this modern era, including social media. Social media is a place for users to get entertainment while being able to interact online via the internet. One of the most famous social media at the moment is tiktok. Tiktok is a social media where users share videos on this platform. Along with the increasing number of tiktok users, application developers have added the tiktokshop feature which is useful for buying and selling through the tiktok application. It turns out that the addition of this feature has received positive responses from tiktok users who enjoy buying and selling and can interact directly with sellers through live broadcasts. This study wants to analyze the factors that can increase consumer buying interest in using Tiktokshop to shop online. Based on literature studies and literature analysis conducted by researchers, several predictor variables were obtained that were believed to influence consumer buying interest using the tiktok shop application, predictor variables namely ease of use, social media, price and trust. This research was conducted in Labuhanbatu and the criteria for respondents were Labuhanbatu students who had used the Tiktoksho application to shop online. The results showed that all predictor variables had a positive and significant effect on the buying interest of Labuhanbatu students using the Tiktokshop application.
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Ahmed, Ather Maqsood, and Rizwana Siddiqui. "Supply Response in Pakistan with "Endogenous" Technology." Pakistan Development Review 33, no. 4II (December 1, 1994): 871–88. http://dx.doi.org/10.30541/v33i4iipp.871-888.
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Considering the significance of agriculture sector in Pakistan's economy, one of the major objectives of agricultural policy has been to raise the level of real income of the farmer by stabilising the agricultural output through a system of price support programme. In the recent past, a number of studies have confirmed that Pakistani farmers respond to changes in output prices.! The prime objective of these studies was to estimate price, acreage or yield elasticities based on the Nerlovian Adjustment Model under alternative expectation schemes. Naqvi and Burney (1992) estimated output supply and input demand functions based on the profit function approach.2 Surprisingly, the single-equation supply model has been used extensively for policy analysis without noticing the fact that such a model does not guarantee that the harvested share of each crop will always be non-negative and the sum of shares of all crops will be unity. Similarly, models which are based on applied duality theory do not take into account the actual decision-making at the farm level. The sequence of events is such that farmer first allocates area across crops and then chooses the input levels conditioned on the allocation of area across crops. Mundlak (1988) has shown that the optimisation model in this case will have to be modified to provide for sequential solution for area allocation and input use. This model clearly distinguishes the changes in optimal input and output combinations for each crop from changes in the quasi-fixed inputs across crops.
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Stampa, Ekaterina, Katrin Zander, and Ulrich Hamm. "Insights into German Consumers’ Perceptions of Virtual Fencing in Grassland-Based Beef and Dairy Systems: Recommendations for Communication." Animals 10, no. 12 (December 1, 2020): 2267. http://dx.doi.org/10.3390/ani10122267.
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The share of cattle grazing on grassland is decreasing in many European countries. While the production costs of intensive stall-based beef and dairy systems are usually lower per kg product, grazing-based systems provide more ecosystem services that are valued by consumers. Innovative grazing systems that apply virtual fencing technology can improve animal welfare, optimize grassland use as pasture, and contribute to biodiversity conservation. Although consumer demand for pasture-raised products could promote animal-friendly practices, consumer perception of virtual fencing remains unknown. To address this gap in research, this study developed information brochures with different lines of argumentation and tested the responses of German consumers using concurrent think aloud protocols. The results demonstrated ambivalence in consumers’ attitudes to virtual fencing. The participants supported the idea of cattle pasturing to promote animal welfare and foster biodiversity declaring a willingness to contribute not only by paying price premiums for pasture-raised products but also through seeking other possibilities of action and participation. However, participants raised concerns about the effects on animal welfare and the social ramifications of the technology. The study offers recommendations for addressing these issues in communication and further contributes to the understanding of consumers’ perceptions of innovation in animal production.
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Scharpf, Fritz W. "The viability of advanced welfare states in the international economy. Vulnerabilities and options." European Review 8, no. 3 (July 2000): 399–425. http://dx.doi.org/10.1017/s106279870000497x.
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The paper presents a preliminary and partial analysis of the information collected in a comparative 12-country study of the adjustment of national employment and social-welfare policies to the increasing internationalisation of product and capital markets. After the postwar decades, when national governments were still able to control their economic boundaries, the first international challenge came in the form of the oil-price crisis of 1973/74, which confronted industrial economies with the double threat of cost-push inflation and demand-gap unemployment. It could be met if countries were able to achieve a form of ‘Keynesian agreement’ in which expansionary monetary and fiscal policies would defend employment while union wage restraint could be relied on to fight inflation. For this solution, ‘corporatist’ industrial-relations institutions were a necessary, but not a sufficient, condition. Since the second oil-price crisis of 1979–80 was met by restrictive monetary and expansionary fiscal policies in the United States, the steep increase of real interest rates in the international capital markets forced other central banks to raise interest rates accordingly. As a consequence, employment-creating investments could only be maintained if the share of profits in the national product was significantly increased. Under the pressure of rapidly rising unemployment, unions in most countries were forced to accept this massive redistribution from labour to capital. In the 1990s, finally, the international integration of product and capital markets has been constraining private sector employment as well as the financial viability of the welfare state. Now, however, institutional differences among different types of revenue systems, welfare states and employment systems – Scandinavian, Anglo-Saxon and Continental – are creating important differences in vulnerability that can no longer be met by standardised responses. This paper concludes with an examination of the specific problems faced by, and the solutions available to, the different countries included in the study.
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Azis, Yusuf, Emy Rahmawati, and A. Yousuf Kurniawan. "Efisiensi Pemasaran Cabai Rawit Hiyung Di Kecamatan Tapin Tengah Kabupaten Tapin-Kalimantan Selatan." Journal of Agricultural Socio-Economics (JASE) 2, no. 1 (August 24, 2021): 8. http://dx.doi.org/10.33474/jase.v2i1.13035.
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The purpose of this study is to determine the marketing of Hiyung cayenne pepper, calculate the share price, cost, margin, and profit earned by producers/farmers and each marketing agency, and examine the level of marketing efficiency of Hiyung cayenne pepper. This study took place in the Tapin Tengah Subdistrict of the Tapin Regency of South Kalimantan Province. The Snowball Sampling approach was used to pick merchant responses. Primary and secondary data are both required. The findings revealed that Hiyung's cayenne pepper marketing channel is divided into two sections: Channel IA (Farmers – Collector Traders – Retailers at the Keraton Market – Consumers), Channel B (Farmers – Collecting Traders – Retailers at Binuang Market – Consumers), and Channel II (Farmers at the Binuang Market – Consumers). - Wholesalers – Collecting Merchants). The greatest marketing cost is Rp. 2,834,39/kg in channel II, and the lowest cost is Rp. 1,967,80 in channel IA with the marketing area in the Keraton market. In channel II, the highest margin is Rp.13,500,00./kg. Meanwhile, the smallest margin, Rp. 4,000.00/kg, is found in channel IA at the Keraton Market Retailer level. The highest marketing profit in channel II is Rp. 17,678.00/kg, whereas the highest profit is Rp. 7,999,46 in channel IA in the Keraton Market area. Channel IA Pasar Keraton has the highest percentage of farmers at 77.44 percent, while channel II has the lowest percentage of farmers at 62.59 percent. The largest profit share for wholesalers is 37.00 percent in channel II, while the lowest is 22.56 percent in channel 1 in the Keraton Market region. The most efficient marketing channel is channel IA, which serves the Keraton market. Its economic efficiency is superior to that of channels IB and II, and its technical efficiency is superior to that of the Keraton market. This translates to lower distribution costs and more acceptability by major institutions.
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Kaur, Puneet, Amandeep Dhir, Shalini Talwar, and Karminder Ghuman. "The value proposition of food delivery apps from the perspective of theory of consumption value." International Journal of Contemporary Hospitality Management 33, no. 4 (February 4, 2021): 1129–59. http://dx.doi.org/10.1108/ijchm-05-2020-0477.
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Purpose The theory of consumption values (TCV) has successfully explained much consumer choice behavior, but few studies have investigated the values that drive food-delivery application (FDA) use. This study aims to bridge this gap by extending the TCV to the FDA context to examine food consumption-related values and interpreting and rechristening generic consumption values to adapt the TCV to the FDA context. Design/methodology/approach An explorative mixed-method research approach was taken to conduct focus group discussions with 20 target users to develop the questionnaire and then administer it for a cross-sectional survey (pen and pencil) to FDA users aged 22–65 years; 423 complete responses so received were analyzed using structural equation modeling. Findings The findings show that epistemic value (“visibility”) is the chief driver of purchase intentions toward FDAs, followed by conditional (“affordances”), price (part of functional value) and social value (“prestige”). Food-safety concerns and health consciousness (proposed as part of functional value) did not share any statistically significant association with purchase intentions toward FDAs. Research limitations/implications The findings of this study are insightful for FDA service providers competing for higher shares in the market by helping them understand ways to influence consumer choices and purchase intentions. Originality/value It is the first study that combines FDAs 2014 an online service that it is attracting a lot of investment 2014and TCV which has continued to be one of the most relevant theories of consumer behavior. It extends the TCV by adapting it to the FDA context with food-consumption-related values. Thus, it adds to the relatively scant literature on FDAs on the whole which is essential, as FDAs represent the business model of new economy, i.e. online-to-offline (O2O). Finally, this study formulates a conceptual framework that may serve as the basis of future research.
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Herbes, Carsten, Johannes Dahlin, and Peter Kurz. "Consumer Willingness To Pay for Proenvironmental Attributes of Biogas Digestate-Based Potting Soil." Sustainability 12, no. 16 (August 9, 2020): 6405. http://dx.doi.org/10.3390/su12166405.
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Biogas from anaerobic digestion has become an important element in the renewable energy portfolio of many countries. In anaerobic digestion, digestate is produced as a byproduct. This could be used to produce fertilizers and potting soils for home gardeners substituting mineral fertilizers or peat-based products. However, this depends on consumer willingness to pay (WTP) for such products, which we investigate in this study. To this end, we conducted a discrete choice experiment (DCE) with 507 private consumers. From the 6084 decisions made, we derived Bayesian part-worth utilities using a preference share model and so calculated the WTP for different proenvironmental attributes of potting-soil products. We also assessed the influence of proenvironmental attitudes on the WTP. We discovered five distinct consumer groups in our respondents. Some show a significant WTP for proenvironmental attributes such as “organic”, “peat free”, and “without guano”. Three descriptions of digestate as a “renewable resource”, a “fermentation residue”, or a “biogas residue” elicited three markedly different WTP responses across all classes, with “renewable resource” garnering the highest WTP and “biogas residue” the lowest. Consumers with a stronger proenvironmental attitude exhibited a higher WTP for proenvironmental attributes. Our results can help marketers of digestate-based potting soils discover suitable price points for their products and design differentiated pricing strategies across consumer groups.
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Xu, Jin Qiu. "Research on the Interactive Transmission Mechanism of House Price in China - Based on a Mixed VAR Model." Advanced Materials Research 108-111 (May 2010): 513–18. http://dx.doi.org/10.4028/www.scientific.net/amr.108-111.513.
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In order to study the interactive relationships between house price with marc-economy in China and reveal the transmission mechanism, this paper specifies a six dimensional VAR model to identify the forces driving house prices fluctuations in China over the period 1999-2009. By employing quarterly time series for real house prices, gross domestic product, money, consumer price index, market capitalization of tradable shares and labor remuneration of persons employed in all units, the author found that: (1) there is a stable and significant relationship of mutual causality between house price with these three factors including GDP, M2, CPI. (2) house price is quickly responses to the growth or falling of market capitalization of tradable shares .in other words ,it is a single causal relationship between them (3) There is not a significant causal relation between house price with labor remuneration .It may appear surprising. Yet this phenomenon accurately reflects the real estate bubble today. This paper deeply study the transmission mechanism of house price.
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Hirsto, Heidi, Merja Koskela, and Kaisa Penttinen. "Cooperative Orientation in Earnings Calls." Fachsprache 44, no. 1-2 (April 29, 2022): 59–79. http://dx.doi.org/10.24989/fs.v44i1-2.1860.
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Financial communication refers to the meaning-making practices by which listed companies interact with their publics to exchange information about issues that may have an effect on the share price. An important site for financial communication is the so-called earnings call, where companies present their quarterly or yearly results and engage in dialogue with analysts and other interested parties. In this paper, we analyze earnings calls from the perspective of the cooperative principle presented by Grice. Our aim is to shed light on how the maxims of cooperation are enacted by expert members of the business community in order to construct joint understanding in the potentially conflicting setting of the earnings call. The empirical data consists of the transcripts of four earnings calls held by globally operating stock-listed companies. Our analysis indicates that earnings calls rely on particularized conversational implicatures, whereby participants may strategically breach the cooperative maxims on the formal level while at the same time orienting to each other’s practical goals and performing as a cooperative team of professionals in a strictly regulated context. One recurring way of doing this is by asking questions that cannot be answered directly but prompt responses with incremental or “soft” information. We argue that the specialized practices of cooperation are linked to the nature of the earnings call as a public performance where participants need to orient to self-presentational and relational concerns as well as regulative restrictions.
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Angulo, Pedro, Jonathan Passmore, and Hazel Brown. "Distinctions in coaching practice between the island of Ireland and the rest of Europe." Coaching Psychologist 15, no. 1 (June 2019): 36–46. http://dx.doi.org/10.53841/bpstcp.2019.15.1.36.
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This research article sought to identify distinctions in the coaching practice between coaches in the island of Ireland (Republic of Ireland and Northern Ireland) and those in the rest of Europe by reviewing and analysing the Irish coaching data provided by The State of Play in European Coaching & Mentoring (2017) and The State of Play in Irish Coaching (2018) research reports. The article also draws a number of useful conclusions and recommendations for coaching psychology practitioners and coaches in general to improve their coaching practice and for accreditation bodies to further promote the professional development of coaching.A survey design was adopted, with a snowball sampling strategy generating 133 respondents. Eight surveyed aspects of coaching practice produced distinctive responses from coaches within Ireland compared with respondents from other European nations: They are more likely to be members of a professional coaching body; spend a higher amount of their working time engaged in coaching; tend to command higher hourly fee rates from corporate coaching assignments; are more likely to use formal supervision with a qualified coach; make greater use of the cognitive behavioural and psychodynamic methods; are slightly more thorough in the range of topicsthey cover when contracting; are less likely to share their code of ethics with their coachees; and believe that the coach’s experience and his/her professional qualifications, as opposed to price or membership of a professional body, are the most important factors when people commission coaching support.Recommendations are made for future analytical research to identify causal factors for these distinctions.Keywords:Coaching; Ireland; Europe; national distinctions.
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Salisu, Afees Adebare, and Idris A. Adediran. "The U.S. Shale Oil Revolution and the Behavior of Commodity Prices." Econometric Research in Finance 3, no. 1 (September 3, 2018): 27–53. http://dx.doi.org/10.33119/erfin.2018.3.1.2.
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The United States is committed to technological improvements in horizontal drilling and hydraulic fracturing in its drive of toppling the world's leading oil producers by the mid-2020s and evolving into a net oil exporter by 2030. Consequently, these technological innovations revolutionized the U.S. oil sector and the international oil market with increasing relevance of the shale oil and attendant shock spillovers to financial and commodity markets. Upon these attractions and consistent with evidence in the literature, we trace the oil price and commodity price dynamics to the shale oil revolution using a recursive structural VAR model of the shale supply shocks. In line with the standard practice of ensuring sensitivity of results, we conduct analyses such as impulse responses, forecast-error variance decomposition, and historical decompositions to accommodate energy and nonenergy commodity components. We show, in addition to the popular view in the extant literature, that the shale oil revolution is not only associated with the recent oil price plunge, but also responsible for the tumble in the total energy-based commodity prices with crude oil price being just a component.
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Chang, H., P. Thiers, N. R. Netusil, J. A. Yeakley, G. Rollwagen-Bollens, S. M. Bollens, and S. Singh. "Relationships between environmental governance and water quality in a growing metropolitan area of the Pacific Northwest, USA." Hydrology and Earth System Sciences 18, no. 4 (April 9, 2014): 1383–95. http://dx.doi.org/10.5194/hess-18-1383-2014.
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Abstract. We investigate relationships between environmental governance and water quality in two adjacent growing metropolitan areas in the western US. While the Portland, Oregon and Vancouver, Washington metro areas share many common biophysical characteristics, they have different land development histories and water governance structures, providing a unique opportunity for examining how differences in governance might affect environmental quality. We conceptualize possible linkages in which water quality influences governance directly, using monitoring efforts as a metric, and indirectly by using the change in the sale price of single-family residential properties. Governance may then influence water quality directly through riparian restoration resulting from monitoring results and indirectly through land use policy. We investigate evidence to substantiate these linkages. Our results showed that changes in monitoring regimes and land development patterns differed in response to differences in growth management policy and environmental governance systems. Our results also showed similarities in environmental quality responses to varying governance systems. For example, we found that sales prices responded positively to improved water quality (e.g., increases in DO and reductions in bacteria counts) in both cities. Furthermore, riparian restoration efforts improved over time for both cities, indicating the positive effect of governance on this land-based resource that may result in improved water quality. However, as of yet, there were no substantial differences across study areas in water temperature over time, despite an expansion of these urban areas of more than 20 % over 24 years. The mechanisms by which water quality was maintained was similar in the sense that both cities benefited from riparian restoration, but different in the sense that Portland benefited indirectly from land use policy. A combination of long-term legacy effects of land development, and a relatively short history of riparian restoration in both the Portland and Vancouver regions, may have masked any subtle differences between study areas. An alternative explanation is that both cities exhibited combinations of positive indirect and direct water quality governance that resulted in maintenance of water quality in the face of increased urban growth. These findings suggest that a much longer-term water quality monitoring effort is needed to identify the effectiveness of alternative land development and water governance policies.
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Timalsina, Keshab Prasad. "Threats in Livelihoods among Adult." International Research Journal of MMC 2, no. 1 (February 23, 2021): 75–83. http://dx.doi.org/10.3126/irjmmc.v2i1.35133.
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This is a study entitled "threats in livelihood among adult". A major purpose of this study is to assess the level of the threats of livelihood in the near future among the adults. The study was carried out among the Facebook users who were connected with the researcher's account having at least +2 completed. This is a quantitative study and used cross-sectional descriptive research design to answer research question. Among the users, 113 were selected randomly and survey form prepared in google form share to them for data collection. Researcher succeeded in gathering data from 100 respondents with a 88.5 percent response rate. Collected data were analysed through quantitative methods like; frequency distribution, diagrams, etc. and Mann-Whitney U test and Chi-square test are applied to test the hypothesis formulated in the study. The study found the highest responses from age group 20-24 which consists of 38 percent. Similarly, the study found the highest percentage (54%) in the Brahmin group in the caste/ethnic character of the population and Hindu group in religious characteristics. About 84 percent population used the Nepali language as a mother tongue. Furthermore, about 35 percent study population found completion of Master's level education and about 47 percent population reported that work problem is the major reason for not involving a further higher level of education. From the study, it is found that all the individuals of the study population has threats of livelihood in the near future. That treats found high in the factor of increasing the price of goods and services but in all the factors threats of livelihood found the medium. The statistical test proved that there is no significant association between threats in livelihood and caste/ethnicity of the study population. Similarly, the study also found that the average level of threats in livelihood does not vary by male and female.
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Hossain, Mohammad Alamgir, Shams Rahman, Tamgid Ahmed Chowdhury, Caroline Chan, Xiaoyan Yang, and Qingxin Su. "How signaling mechanisms reduce “lemons” from online group buying (OGB) markets? A study of China." International Journal of Physical Distribution & Logistics Management 48, no. 7 (August 6, 2018): 658–81. http://dx.doi.org/10.1108/ijpdlm-02-2017-0113.
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PurposeA major transformation in retail logistics over the few years is backed by enormous improvements in internet technologies. It is now easy for e-retailers to entertain delivery progression, or consumers can share use-experience with future customers and thereby reducing information asymmetry. The purpose of this paper is to investigate the effect of different signals on consumer behavior in the presence of information asymmetry, in the context of online group buying (OGB) markets in China.Design/methodology/approachBased on the lemon market theory (LMT) and signaling theory, the study develops a research model of the OGB consumers’ context in China, which is validated using data from an online survey. A total of 528 responses are used for data analysis applying structural equation modeling technique.FindingsThe findings of the study show that perceived vendor quality (PVQ) and perceived product quality (PPQ) have significantly positive effects on intention to purchase from OGB websites. PVQ is associated with perceived reputation and perceived trustworthiness (PT) of vendor, and the determinants of PPQ are quality assurance information of products, and information about mer-chants. Further, PT has a mediating effect, while asymmetry of information has a moderating effect.Research limitations/implicationsThe research model is valid as a generic OGB model that can be investigated in other contexts to understand the generalizability of the findings. Future research is needed to incorporate additional relevant factors (e.g. price, advertising activity/investments) that may help increase the acceptability of the model to a wide range of e-commerce contexts. Two of the control variables (gender and prior internet experience) were found to be significant; this could be further examined in future studies to determine the relative impact on each causal relationship.Originality/valueWhereas prior studies in the domain of consumer service proposed different signaling mechanisms that were believed to eliminate information asymmetry from a market, the study sheds light on the effectiveness of the signals in the OGB context. This is a unique effort that applies and extends LMT and signaling theory in OGB context by theorizing the associated dimensions and their causal effects.
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Pathak, Dr Disha, and Dr Komal Nagrani. "STOCK PRICE RESPONSE TO BONUS SHARE ANNOUNCEMENT- EVIDENCE FROM NSE, INDIA." BSSS Journal of Management 13, no. 1 (June 30, 2022): 50–59. http://dx.doi.org/10.51767/jm1305.
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Corporate events have considerable effect on the movement of stock price that attracts lots of research. Likewise, Bonus share is one of the significant events in company and brings volatility to the stocks. The present study focuses on response of stock price movement to the announcement of bonus share. A study focused on 4 selected stocks having bonus share announcement between October 2019 to March 2021. A standard event study methodology was used to analyze the response of bonus share announcement on abnormal returns (AR) for the sample stocks surrounding forty one days of the announcement date (including announcement date). Average abnormal returns (AAR) and cumulative average abnormal returns (CAAR) were computed. Paired t-test was used for analyzing significance of bonus share announcement on AAR. From the study, it can be inferred that bonus share announcement has shown negative significant impact on AAR.
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Algarvio, Hugo, and Fernando Lopes. "Bilateral Contracting and Price-Based Demand Response in Multi-Agent Electricity Markets: A Study on Time-of-Use Tariffs." Energies 16, no. 2 (January 5, 2023): 645. http://dx.doi.org/10.3390/en16020645.
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Electrical energy can be traded in liberalized organized markets or by negotiating private bilateral contracts. Competitive markets are central systems where market players can purchase and sell electrical energy. Bilateral contracting consists typically in a private negotiation of power over several months or years between two parties. Price-based demand response considers the active participation of consumers in electricity markets. Consumers adopt demand response programs when responding to market prices or tariffs, as they change over time. Those tariffs can be proposed by retailers by considering their load shape goals, influencing consumers to change their behavior. Consumers may adopt strategies from two different groups, namely by curtailing energy at times of high prices (e.g., peak and intermediate periods) and rescheduling energy away from those times to other times (shifting). This article considers bilateral contracting in electricity markets with demand response. It investigates how curtailment and shifting affect the energy quantity and energy cost of consumers that adopt a time-of-use tariff involving three block periods (i.e., base, intermediate and peak periods). The results indicate that consumers respond to changes in energy price according to their consumption flexibility, while retailers do not always change energy price in response to consumers’ efforts to change their consumption patterns. On average, by considering a 5% consumption reduction in the intermediate and peak periods by a consumer agent, a retailer agent reduces the energy price only by 1.5%.
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Senteney, Michael H., David L. Senteney, and Mohammad S. Bazaz. "Equity Market Response to Form 20-F Disclosures for ADR Firms." International Journal of Economics and Finance 9, no. 3 (February 22, 2017): 233. http://dx.doi.org/10.5539/ijef.v9n3p233.
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Non-U.S. companies may list securities in U.S. stock exchanges, provided that they file a set of audited financial statements as well as comply with extensive SEC disclosure requirements. We speculate that non-U.S. firms who choose to be listed in the major U.S. exchanges will comply with the supplemental disclosure requirements in order to have the supplemental disclosures impounded in the home country equity share price via the ADR share price in the manner described by Fishman and Hagerty (1989). We investigate the information content of non-U.S. firm’s earnings released vis-à-vis the SEC Form 20-F filings in both ADR and home country equity share markets. We employed models of the ADR and equity security share earnings release date abnormal returns controlling for the incremental firm-specific SEC Form 20-F disclosures required of exchange listed ADRs. Our results suggest that both ADR and home country equity share markets exhibit abnormal returns associated with the earnings release date. Particularly noteworthy, however, is the association between magnitudes of U.S. GAAP earnings and magnitudes of SEC Form 20-F filing date. Abnormal returns are significantly larger than the association between magnitudes of reported earnings and earnings report date abnormal returns in both the ADR and home country equity share markets. Our results seemingly suggest that the U.S. ADR share market’s response dominates the cross-market information flow, driving the home country equity share market response in a manner consistent with the notion that U.S. GAAP conveys price relevant information beyond reported earnings for non-U.S. firms.
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Hammond, Jef M., Badi Maulidi, and Nina Henning. "Targeted FMD Vaccines for Eastern Africa: The AgResults Foot and Mouth Disease Challenge Project." Viruses 13, no. 9 (September 14, 2021): 1830. http://dx.doi.org/10.3390/v13091830.
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As one of the most infectious livestock diseases in the world, foot and mouth disease (FMD) presents a constant global threat to animal trade and national economies. FMD remains a severe constraint on development and poverty reduction throughout the developing world due to many reasons, including the cost of control measures, closure of access to valuable global FMD-free markets for livestock products, production losses through reduced milk yield, reduced live weight gain, and the inability of infected livestock to perform traction. FMD virus infects a variety of cloven-hoofed animals, including cattle, sheep, goats, swine, all wild ruminants, and suidae, with high morbidity in adult animals. High mortality can occur in young animals due to myocarditis. FMD is endemic in Africa, most of Asia, the Middle East, and parts of South America. The global clustering of FMD viruses has been divided into seven virus pools, where multiple serotypes occur but within which are topotypes that remain mostly confined to that pool. Three pools cover Europe, the Middle East, and Asia; three pools cover Africa; and one pool covers the Americas. The highly infectious nature of FMDV, the existence of numerous continually circulating serotypes and associated topotypes, the potential for wildlife reservoirs, and the frequent emergence of new strains that are poorly matched to existing vaccines all serve to compound the difficulties faced by the governments of endemic countries to effectively control and reduce the burden of the disease at the national and regional levels. This clustering of viruses suggests that if vaccination is to be a major tool for control, each pool could benefit from the use of tailored or more specific vaccines relevant to the topotypes present in that pool, rather than a continued reliance on the currently more widely available vaccines. It should also be noted that, currently, there are varying degrees of effort to identify improved vaccines in different regions. There are relatively few targeted for use in Africa, while the developed world’s vaccine banks have a good stock of vaccines destined for emergency outbreak use in FMDV-free countries. The AgResults Foot and Mouth Disease (FMD) Vaccine Challenge Project (the “Project”) is an eight-year, US $17.68 million prize competition that supports the development and uptake of high-quality quadrivalent FMD vaccines tailored to meet the needs of Eastern Africa (EA). The Project targets the following Pool Four countries: Burundi, Ethiopia, Kenya, Rwanda, Tanzania and Uganda. The Project is being run in two phases: a development phase, which will encourage the production of regionally relevant vaccines, and a cost-share phase, designed to help to reduce the price of these vaccines in the marketplace to the end users, which is hoped will encourage broader uptake. Manufacturers can submit quadrivalent FMD vaccines containing serotypes A, O, SAT1, and SAT2, which will be assessed as relevant for use in the region through a unique component of the Project requiring the screening of vaccines against the Eastern Africa Foot and Mouth Disease Virus Reference Antigen Panel assembled by the World Reference Laboratory for FMD (WRLFMD), at the Pirbright Institute, UK, in collaboration with the OIE/FAO FMD Reference Laboratory Network. To be eligible for the Project, sera from vaccinated cattle will be used to evaluate serological responses of FMD vaccines for their suitability for use in Eastern African countries. If they pass a determined cut-off threshold, they will be confirmed as relevant for use in the region and will be entered into the Project’s cost-share phase.