Dynamic analysis on market structure of China's coal industry

International Nuclear Information System (INIS)

Yang, Qing; Zhang, Lei; Wang, Xin

2017-01-01

According to industrial organization theory, market structure is a crucial factor to market performance. Based on the VAR model and the data from 1994 to 2014, we revealed the dynamic response route of the market structure to these factors and the change process of contribution rate of these factors to the market structure. It shows that market structure is inertial adjustment; technology advance and industry policy have continuous effects on improvement of market concentration ratio; market size and production scale have sustained negative effects on market concentration ratio; fixed capital has barrier effect, which is mainly the entry barrier effect at the beginning, and then the exit barrier effect continues to play a leading role. Therefore, the government has no need to introduce special policies to encourage merger or expansion on the capacity as enterprises would do it spontaneously; it is necessary to make market access system stricter, to improve exit compensation mechanism and to promote technological innovation; all these policies need dynamic adjustment based on the stages of economic cycle. - Highlights: • The adjustment mechanism of China's coal market structure is revealed. • Technology and industry policy are significant factors to optimize the market structure. • The government need not introduce special policy to encourage merger. • The market access system should be stricter. • Policies strength should be dynamically adjusted based on the economic cycle.

Structural change in Europe's gas markets: three scenarios for the development of the European gas market to 2020

International Nuclear Information System (INIS)

Ellis, A.; Bowitz, E.; Roland, K.

2000-01-01

Against the background of the European Union's Gas Directive, and the emergence of new players and markets in Europe's gas sector, this paper explores how company actions could shape the future for the gas industry. Starting with an examination of company strategies this paper develops three scenarios for the future: a 'Gradual Transformation' scenario where a single European gas market develops that is essentially oligopolistic in nature; a 'Vertical Integration' scenario, where upstream and downstream gas companies merge to form a vertically integrated gas supplier; and a 'Pull the Plug' scenario, where the current market structure decomposes into a competitive market. These scenarios are examined in terms of their impact on gas prices, demand and the distribution of gas rent along the supply chain. The paper highlights the fact that the EU's gas Directive is not sufficient for the introduction of competition into Europe's gas markets, but that company actions will be the key determinant, and they may favour alternative market structures. (Author)

Creating New Structures for Marketing Firms: An Experimental Conjoint Study

NARCIS (Netherlands)

Kalogeras, N.; Lans, van der I.A.C.M.; Pennings, J.M.E.; Dijk, van G.

2004-01-01

ABSTRACT As market conditions change rapidly in the 21st century, questions are arising concerning the suitable organizational structures and processes to meet the challenges that these conditions pose. This paper introduces a new model to structure marketing co-operatives (MCs), which is based on

Changes of hierarchical network in local and world stock market

Science.gov (United States)

Patwary, Enayet Ullah; Lee, Jong Youl; Nobi, Ashadun; Kim, Doo Hwan; Lee, Jae Woo

2017-10-01

We consider the cross-correlation coefficients of the daily returns in the local and global stock markets. We generate the minimal spanning tree (MST) using the correlation matrix. We observe that the MSTs change their structure from chain-like networks to star-like networks during periods of market uncertainty. We quantify the measure of the hierarchical network utilizing the value of the hierarchy measured by the hierarchical path. The hierarchy and betweenness centrality characterize the state of the market regarding the impact of crises. During crises, the non-financial company is established as the central node of the MST. However, before the crisis and during stable periods, the financial company is occupying the central node of the MST in the Korean and the U.S. stock markets. The changes in the network structure and the central node are good indicators of an upcoming crisis.

The Formation of Structure of Marketing Department

Directory of Open Access Journals (Sweden)

Darius Dubickis

2014-04-01

Full Text Available In the changing high-level complex environment, it is moreand more important for the companies to focus on the marketand costumer. Or, in other words, the companies supposed toturn their attention to the marketing. Despite the fact that themajor subject of an economy is a company, the analysis of themarket-ing issues on the company level is limited. Meanwhile,both practical and scientific problems are significant. One ofthe most important issues is forming the structure of marketingdepartment. Its functions and the content of implementingmeasures determine that its structure supposed to consist ofthe market research and segmentation, development of businessstrategy, strategic planning as well as advertising and realizationof production.

Information transfer across intra/inter-structure of CDS and stock markets

Science.gov (United States)

Lim, Kyuseong; Kim, Sehyun; Kim, Soo Yong

2017-11-01

We investigate the information flow between industrial sectors in credit default swap and stock markets in the United States based on transfer entropy. Both markets have been studied with respect to dynamics and relations. Our approach considers the intra-structure of each financial market as well as the inter-structure between two markets through a moving window in order to scan a period from 2005 to 2012. We examine the information transfer with different k, especially k = 3, k = 5 and k = 7. Analysis indicates that the cases with k = 3 and k = 7 show the opposite trends but similar characteristics. Change in transfer entropy for intra-structure of CDS market precedes that of stock market in view of the entire time windows. Abrupt rise and fall in inter-structural information transfer between two markets are detected at the periods related to the financial crises, which can be considered as early warnings.

Features of the Institutional Structure of the Polish Stock Market under Conditions of Transformational Changes in the Global Financial Environment

Directory of Open Access Journals (Sweden)

Goncharenko Nataliia I.

2017-03-01

Full Text Available Under modern conditions of transformational changes in the global financial environment, the international stock market acquires stable features of activization of investment activity, formation of a large network of professional participants in the stock market and its multi-level institutional structure, expansion of the range of trade in securities, access of economic entities of different countries to financial resources and diversification of mechanisms of concentration, etc. There conducted a study of peculiarities of the institutional structure of the Polish stock market in the context of transformational changes in the global economic system. The factors influencing the volume of capitalization of the Warsaw Stock Exchange are analyzed; the dependence of the capitalization of the Exchange on foreign portfolio investments in shares of Polish issuers is revealed. Based on the results of own calculations of multiple correlation coefficients, the level of dependence between capital stock market indicators and assets of such financial institutions in Poland as investment and open pension funds, insurance companies is determined, and a significant interconnection of assets of investment and open pension funds and insurance companies is revealed. The obtained results can become a basis for institutional investors in the process of making effective decisions on expanding the range of trading in securities.

Market structures in international telecommunications

DEFF Research Database (Denmark)

Henten, Anders

1998-01-01

Paper dealing with the internationalisation of telecommunications and the developing market structures.......Paper dealing with the internationalisation of telecommunications and the developing market structures....

The new capitalists: a structural change from the stock market economy to the free market economy

Science.gov (United States)

Khoshyaran, M.

2004-12-01

In this paper an alternative mechanism to the stock market is proposed. Two elements are taken away: (1) middlemen, and (2) shareholder lack of involvement. Structural elements are identified. Equilibrium-stability conditions are defined. A measures of effectiveness is suggested.

Speed of adjustment and market structure

International Nuclear Information System (INIS)

Lanza, A.

1991-01-01

This paper studies the relationship between changes in costs and prices in the gasoline market in the Federal Republic of Germany for the period 1980-90. We shall use an econometric model, and distinguish two stages in the transmission of cost changes to prices. The first is the adjustment of gasoline prices ex-refinery to changes in the price of crude oil, and the second is the adjustment of gasoline price (net of taxes) at the pump to ex-refinery prices. The study of price adjustments to cost changes involves the analysis of two inter-related but different phenomena. The first is the speed of adjustment, defined here as the mean of the length of the time periods required for the transmission of the full effect of an exogenous shock from the independent to the dependent variable of the econometric model used in the analysis. The second relates to possible asymmetries in the response of prices to increases and decreases in costs. Both phenomena are closely related to the structure of the market. The common assumption is that the first is negatively correlated to the degree of competition, and that the second is an indication of the prevailing market structure. The main findings of this paper are as follows: (a) at the refinery level there is only weak evidence of asymmetrical reaction; the average lag in case of crude price increases or decreases is about three months; (b) at the consumers' level, the speed of adjustment was lower when the ex-refinery price was declining than when it was rising; the adjustment lag was about 6.07 months when ex-refinery prices were declining and 5.37 months when they were rising. (author)

International Good Market Segmentation and Financial Market Structure

OpenAIRE

Basak, Suleyman; Croitoru, Benjamin

2003-01-01

While financial markets have recently become more complete and international capital flows well liberalized, markets for goods remain segmented. To investigate how more complete security markets may relieve the effects of this segmentation, we examine a series of two-country economies with internationally segmented good markets, distinguished by the available financial securities. We show that, under heterogeneity within countries, the financial structure matters: even with internationally co...

Solidarity as an Engine for Economic Change – The Impact of Swedish and US Political Ideology on Wage Differentials and Structural Change

DEFF Research Database (Denmark)

Wulfgramm, Melike

This paper investigates the impact of interindustry wage distribution on structural change in the Swedish and US manufacturing sector in the 1970s. Structural change in the centralized Swedish labour market reacts far more positive to market pressures towards wage changes than structural change...... in the decentralized US labour market. Support for the Rehn-Meidner model of solidarity wages and structural change is found. It is shown how opposing ideologies and policy making influence not only the wage pattern but also industry structures of economies....

Ownership structure in agrifood chains: the marketing cooperative.

NARCIS (Netherlands)

Hendrikse, G.; Bijman, J.

2002-01-01

Globalization, technological developments, and consumer concerns press farmers and food producers to enhance product innovation and to seek more efficient production and distribution structures. These changes in agrifood markets shift the relative importance of the investments by different chain

Does competitive entry structurally change key marketing metrics?

NARCIS (Netherlands)

Kornelis, M.; Dekimpe, de M.G.; Leeflang, P.S.H.

2008-01-01

To what extent does competitive entry create a structural change in keymarketingmetrics? New players may just be a temporal nuisance to incumbents, but could also fundamentally change the latter's performance evolution, or induce them to permanently alter their spending levels and/or pricing

Research on market power and market structure: A direct measure of market power of internet platform enterprises

Directory of Open Access Journals (Sweden)

Baowen Sun

2017-09-01

Full Text Available Purpose – This paper aims to clear whether the monopoly structure of the internet industry has produced market power and discussed the welfare change of the internet industry monopoly. Design/methodology/approach – By using new empirical industrial organization methods and taking the e-commerce market as an example, the authors measured market power and economies of scale of the internet platform companies. Findings – Internet platform enterprises have formed scale economy, but it has not had market power, and the industry still maintains high levels of competition; also, the emergence of large enterprises may increase the welfare of consumers. Originality/value – The conclusion of this paper clarified actual competition status of internet industry and provided a new foothold for regulation and ideas for the traditional industry to crack the Marshall Conflict.

Marketing and social change: the parallels.

Science.gov (United States)

Da Cunha, G

1995-01-01

Social marketing became respectable only in the late 1970s in places like Indonesia, Brazil, Egypt, Honduras, and Gambia. In practice social change and marketing are both about modifying group behavior. Social change provides opportunities for marketing, which is the process that identifies the unmet consumer need and satisfies it at a profit. Social research and production technologies are involved in market segmentation, target group selection, pricing, distribution, selling, and promotion. The crucial, people-centered and community-based characteristic of marketing is its social relevance. Marketing is a neutral methodology and social marketing is its adaptation to social imperatives. Among a set of underlying ideas related to marketing is the primacy of the consumer in all marketing decisions. Marketing clusters are a way of analyzing a situation, making a product, and pricing and distributing it. Demand is the driving force behind marketing with the components of price, performance, and decision. The benefit obtained from the product must justify the price. Advertising is commercial mass persuasion, the centerpiece of promotion; it is also needed for marketing communications. Promotional tools include special price offers, merchandizing, and dealer incentive schemes. Straightforward information rarely causes lasting behavioral changes. In a Bangladeshi community, 90% of women could have correct knowledge about oral rehydration salts, yet only 8% of them might actually use them correctly. Information that is resisted does not work, yet huge amounts of money go into producing manuals, leaflets, radio programs, and posters. The issues of distribution and competition are often neglected in social marketing programs. Other deficiencies are failure to monitor, evaluate, and innovate. To be successful, social marketing must aim at a 100% conversion of the market actors. Some successes of the social marketing approach include: a nutrition education and behavior change

How has sovereign bond market liquidity changed? : an illiquidity spillover analysis

OpenAIRE

Schneider, Michael; Lillo, Fabrizio; Pelizzon, Loriana

2016-01-01

Amid increasing regulation, structural changes of the market and Quantitative Easing as well as extremely low yields, concerns about the market liquidity of the Eurozone sovereign debt markets have been raised. We aim to quantify illiquidity risks, especially such related to liquidity dry-ups, and illiquidity spillover across maturities by examining the reaction to illiquidity shocks at high frequencies in two ways: a) the regular response to shocks using a variance decomposition and, b) the ...

Airline network structure in competitive market

Directory of Open Access Journals (Sweden)

Babić Danica D.

2014-01-01

Full Text Available Airline's network is the key element of its business strategy and selected network structure will not have influence only on the airline's costs but could gain some advantage in revenues, too. Network designing implies that an airline has to make decisions about markets that it will serve and how to serve those markets. Network choice raises the following questions for an airline: a what markets to serve, b how to serve selected markets, c what level of service to offer, d what are the benefits/cost of the that decisions and e what is the influence of the competition. We analyzed the existing airline business models and corresponding network structure. The paper highlights the relationship between the network structures and the airline business strategies. Using a simple model we examine the relationship between the network structure and service quality in deregulated market.

Market structure in the US electricity industry: a long-term perspective

International Nuclear Information System (INIS)

Kamerschen, D.R.

2005-01-01

We estimate changes in market structure in the US electric power industry during the last three decades using two independent approaches. First, we estimate an industry-wide conjectural-variations parameter. We find that industry concentration was generally rising during the 1970s but has been gradually and consistently falling since the early 1980s. To check the robustness of these results, we then use a translog production function to estimate the Lerner Index. The results confirm that the industry was becoming less concentrated during the 1980s, though the Lerner Index tended to fluctuate during the late 1980s and early 1990s. Our results suggest that the current state of the electricity industry may have more to do with long-term changes in market structure than recent attempts to establish competitive wholesale electricity markets. (author)

Equilibrium with arbitrary market structure

DEFF Research Database (Denmark)

Grodal, Birgit; Vind, Karl

2005-01-01

. The complete market predicted by this theory is clearly unrealistic, and Radner [10] formulated and proved existence of equilibrium in a multiperiod model with incomplete markets. In this paper the Radner result is extended. Radner assumed a specific structure of markets, independence of preferences...

Model of the electric energy market in Poland. Assumptions, structure and operation principles

International Nuclear Information System (INIS)

Kulagowski, W.

1994-01-01

Present state of works on model of electric energy market in Poland with special consideration of bulk energy market is presented. The designed model based on progressive, evolutionary changes is so elastic, that when keeping general structure and fundamentals the particular solutions can be verified or corrected. The changes in the electric energy market are considered as an integral part of existing restructuring process of Polish electric energy sector. The rate of those changes and the mode of their introduction influence on introduction speed of the new solutions. (author). 14 refs, 4 figs

Market redesign and regulatory change : how companies doing business in Alberta's power markets will be affected

International Nuclear Information System (INIS)

Runge, C.

2003-01-01

The Power Pool of Alberta (PPA) began its operations in 1996 based on a model with a single price set based on day ahead offers/bids and real time dispatch. The Electric Utilities Act was amended in 1998 and direct sales were permitted in 1999. The Power Purchase Arrangement Auction was implemented in 2000. Significant events took place in 2001, including: (1) retail competition, (2) PPAs began operations, (3) restrictions on direct sales were removed, (4) forward exchange operation, and (5) ancillary services market. In 2002, the Market Achievement Plan II was implemented and government industry structure was reviewed. There are several considerations regarding market redesign, such as day ahead market, capacity market, congestion management, and Northwest Regional Transmission Organization (RTO West). The role of the International Standard Organization (ISO) was discussed, with reference to the Independent System Operator, Independent Market Operator, and Transmission and Market Planner. Redesign must involve all participants and include informed, phased in changes

Structural changes in the German pharmaceutical market: price setting mechanisms based on the early benefit evaluation.

Science.gov (United States)

Henschke, Cornelia; Sundmacher, Leonie; Busse, Reinhard

2013-03-01

In the past, free price setting mechanisms in Germany led to high prices of patented pharmaceuticals and to increasing expenditures in the pharmaceutical sector. In order to control patented pharmaceutical prices and to curb increasing pharmaceutical spending, the Act for Restructuring the Pharmaceutical Market in Statutory Health Insurance (AMNOG) came into effect on 1st January 2011. In a structured dossier, pharmaceutical manufacturers have to demonstrate the additional therapeutic benefit of the newly approved pharmaceutical compared to its appropriate comparator. According to the level of additional benefit, pharmaceuticals will be subject to price negotiations between the Federal Association of Statutory Health Insurance Funds and the pharmaceutical company concerned (or assigned to a reference price group in case of no additional benefit). Therefore, the health care reform is a first step to decision making based on "value for money". The process of price setting based on early benefit evaluation has an impact on the German as well as the European pharmaceutical markets. Therefore, these structural changes in Germany are of importance for pricing decisions in many European countries both from a political point of view and for strategic planning for pharmaceutical manufacturers, which may have an effect on insured patients' access to pharmaceuticals. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

75 FR 28667 - Market Structure Roundtable

Science.gov (United States)

2010-05-21

... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-62115; File No. 4-602] Market Structure... views of investors, issuers, exchanges, alternative trading systems, financial services firms, high frequency traders, and the academic community regarding the current securities market structure. The...

Market structure, market strategy and customer satisfaction

DEFF Research Database (Denmark)

Eskildsen, Jacob Kjær; Kristensen, Kai; Steensen, Elmer Fly

2007-01-01

The popularity of customer satisfaction measurements has grown considerably over the last few years but we know very little about how the structure of the individual markets with respect to the transparency of products and services as well as how consumer preferences affect customer satisfaction....... Here a total of 14540 customers have evaluated their preferred supplier with respect to banking, property insurance, supermarkets and mobile telecom. The analysis shows that market structure has a profound effect on customer satisfaction measurements and that this effect differs from industry...... to industry. The paper concludes with an evaluation of the implications of the findings in relation to the use of results from customer satisfaction studies....

Assessing market structures in resource markets. An empirical analysis of the market for metallurgical coal using various equilibrium models

Energy Technology Data Exchange (ETDEWEB)

Lorenczik, Stefan; Panke, Timo [Koeln Univ. (Germany). Inst. of Energy Economics

2015-05-15

The prevalent market structures found in many resource markets consist of a high concentration on the supply side and a low demand elasticity. Market results are therefore frequently assumed to be an outcome of strategic interaction between producers. Common models to investigate the market outcomes and underlying market structures are games representing competitive markets, strategic Cournot competition and Stackelberg structures taking into account a dominant player acting first followed by one or more followers. Besides analysing a previously neglected scenario of the latter kind, we add to the literature by expanding the application of mathematical models by applying an Equilibrium Problem with Equilibrium Constraints (EPEC), which is used to model multi-leader-follower games, to a spatial market. We apply our model by investigating the prevalent market setting in the international market for metallurgical coal between 2008 and 2010, whose market structure provides arguments for a wide variety of market structures. Using different statistical measures and comparing model with actual market outcomes, we find that two previously neglected settings perform best: First, a setting in which the four largest metallurgical coal exporting firms compete against each other as Stackelberg leaders, while the remainders act as Cournot followers. Second, a setting with BHPB acting as sole Stackelberg leader.

Assessing market structures in resource markets. An empirical analysis of the market for metallurgical coal using various equilibrium models

International Nuclear Information System (INIS)

Lorenczik, Stefan; Panke, Timo

2015-01-01

The prevalent market structures found in many resource markets consist of a high concentration on the supply side and a low demand elasticity. Market results are therefore frequently assumed to be an outcome of strategic interaction between producers. Common models to investigate the market outcomes and underlying market structures are games representing competitive markets, strategic Cournot competition and Stackelberg structures taking into account a dominant player acting first followed by one or more followers. Besides analysing a previously neglected scenario of the latter kind, we add to the literature by expanding the application of mathematical models by applying an Equilibrium Problem with Equilibrium Constraints (EPEC), which is used to model multi-leader-follower games, to a spatial market. We apply our model by investigating the prevalent market setting in the international market for metallurgical coal between 2008 and 2010, whose market structure provides arguments for a wide variety of market structures. Using different statistical measures and comparing model with actual market outcomes, we find that two previously neglected settings perform best: First, a setting in which the four largest metallurgical coal exporting firms compete against each other as Stackelberg leaders, while the remainders act as Cournot followers. Second, a setting with BHPB acting as sole Stackelberg leader.

Modern structure of marketing communications complex

Directory of Open Access Journals (Sweden)

Hrebenyukova Elena

2015-08-01

Full Text Available The article presents the results of the desk research, in which the current structure of the marketing communications complex was analyzed. According to the results of the content analysis of scientific and educational literature in marketing it was proved that there is a certain structural asymmetry in today's complex of marketing communication: the rejection of impersonal tools and actualization of those which make possible personalized communication with the consumer.

A Time Series Analysis to Asymmetric Marketing Competition Within a Market Structure

OpenAIRE

Francisco F. R. Ramos

1996-01-01

As a complementary to the existing studies of competitive market structure analysis, the present paper proposed a time series methodology to provide a more detailed picture of marketing competition in relation to competitive market structure. Two major hypotheses were tested as part of this project. First, it was found that some significant cross- lead and lag effects of marketing variables on sales between brands existed even between differents submarkets. second, it was found that high qual...

Market structure and market definition: the case of small market banks and thrifts

OpenAIRE

Andrew Cohen

2004-01-01

This paper introduces a simple method to test between two general approaches to defining bank and thrift product markets. I estimate two models that endogenize market structure using data on banks and thrifts from 1,884 rural markets for the year 2000. The first model assumes that banks and thrifts are in "independent product markets," i.e., that bank profitability depends only on competition from other banks and that thrift profitability depends only on competition from other thrifts. An alt...

Structural Change and Economic Development in China and India

Directory of Open Access Journals (Sweden)

Vittorio Valli

2009-06-01

Full Text Available The comparison of the periods of rapid economic growth in China since 1978 and India since 1992 markedly show different patterns of development and structural change. However, both countries experienced some advantages of "relative economic backwardness" and some aspects of the "fordist model of growth". China had an anticipated and deeper structural change, spurred mainly by economic reforms and the growth of the internal market in the 1980s, and, since the mid-1990s, by a very rapid penetration of its industrial products in the world market. However, a substantial part of China's exports in medium and high tech sectors are due to joint-ventures with foreign multinationals. India had a more balanced structural change and a slower insertion in the world market, although some sectors, such as software, steel, automotive and pharmaceuticals are recently increasing their share in the world markets. Owing to the huge number of micro-enterprises and the great size of the informal sector, India benefited much less than China from the economies of scale and from the third wave of the "fordist model of growth". Both countries, but in particular China, experienced negative externalities of this recent phase of rapid growth, such as higher inequalities, pollution and urban congestion.

Is a National Pork Marketing Cooperative Viable? A Case Study of Pork America within the Context of Structural Change in the US Pork Industry

OpenAIRE

Gehrke, Brad C.; Matson, James

2000-01-01

After World War II, livestock slaughter decentralized and livestock producers increased direct sales to packers. As a result, livestock producers have been less likely than other agricultural producers to use cooperatives to market their farm production. Between 1994 and 1998, less than 15 percent of livestock and wool production was marketed through cooperatives compared with 80 percent of milk production and 40 to 50 percent of grains and oilseeds. Recent structural change in the livestock ...

Changing patterns of competition in European gas markets

International Nuclear Information System (INIS)

Heren, P.

1996-01-01

Despite a period of statism in the European natural gas market, the author argues that economic, political and regulatory pressures are approaching which will force dramatic change in the market, and identifies factors relating to pipeline capacity, competition, prices and market changes and fuel use which will drive the changes. A historical perspective is used as a framework to explain the inevitability of these changes. (UK)

75 FR 3593 - Concept Release on Equity Market Structure

Science.gov (United States)

2010-01-21

... Structure 2. Other Measures B. High Frequency Trading 1. Strategies a. Passive Market Making b. Arbitrage c... trend from a market structure with primarily manual trading to a market structure with primarily... Part III Securities and Exchange Commission 17 CFR Part 242 Concept Release on Equity Market...

Marketing Cooperatives and Financial Structure

NARCIS (Netherlands)

Hendrikse, G.W.J.; Veerman, C.P.

1995-01-01

The relationship between the financial structure of marketing cooperatives and the requirement of the domination of control by the members of the cooperative is analysed with an emphasis on incomplete contracts and system complementarities. It is argued that the disappearance of shortage markets in

A survey on technical efficiency, marketing and market structure of saffron crop, Iran

Directory of Open Access Journals (Sweden)

Mahmoud Shaban

2014-03-01

Full Text Available The current study attempted to determine technical efficiency as well as study the marketing and market structure of Saffarn crop in Iran. To access the research goals 140 farms, 25 retailers and 14 wholesalers randomly selected. The necessary data collected through interview and filling questionarie. Apart from this, some agricultural Expert from selected cities of Razavi province have been chosen to interview. To determine the market time-series data for the period of 1995-12 was used. To determine technical efficiency DEA method, to calculate marketing margins Digbi method and to find market structure concentration ratio and Herfindal index were used. The results indicated that, the average technical efficiency was 63.49 and minimum and maximum technical efficiency respectively 19.04 and 100, retailer margin mean of Saffron was more than wholesale margin mean and average marketing cost coefficient of Saffron was about 14.78. It means that, marketing factors share in final price is 14.78. Address to the results the Saffaran’s market structure is oligopoly.

Market Structure and Competitive Strategy in Market Square

Institute of Scientific and Technical Information of China (English)

PENG Juanjuan

2007-01-01

Market Square shopping center contains several restaurants and cafés providing a diverse range of Asian foods and delicacies and this area is known by locals and Griffith University students as a great location for 'eating out'. Then, what is the market structure in this shopping mall and what kind of competitive strategies should be used to maximize profits according to the characteristics in this shopping center?

Research on energy stock market associated network structure based on financial indicators

Science.gov (United States)

Xi, Xian; An, Haizhong

2018-01-01

A financial market is a complex system consisting of many interacting units. In general, due to the various types of information exchange within the industry, there is a relationship between the stocks that can reveal their clear structural characteristics. Complex network methods are powerful tools for studying the internal structure and function of the stock market, which allows us to better understand the stock market. Applying complex network methodology, a stock associated network model based on financial indicators is created. Accordingly, we set threshold value and use modularity to detect the community network, and we analyze the network structure and community cluster characteristics of different threshold situations. The study finds that the threshold value of 0.7 is the abrupt change point of the network. At the same time, as the threshold value increases, the independence of the community strengthens. This study provides a method of researching stock market based on the financial indicators, exploring the structural similarity of financial indicators of stocks. Also, it provides guidance for investment and corporate financial management.

DOES MARKET TIMING DRIVE CAPITAL STRUCTURE? EMPIRICAL EVIDENCE FROM AN EMERGING MARKET

Directory of Open Access Journals (Sweden)

Sibel Çelik

2013-01-01

Full Text Available The purpose of this study is to test how equity market timing affects capital structure from the perspective of IPO (Initial Public Offering event in ISE for the period between 1999-2008. Our dataset comprises of all firms (75 firms that went public from the period of January 1999 to December 2008 in Turkey that are available in ISE database. We analyse the market timing theory by applying cross sectional regression method. For this purpose, first, we test the impact of market timing on the amount of equity issued by IPO firms. Second we examine the impact of market timing on capital structure. We conclude that market timing theory is not valid for Turkey.

The wood pellet market in Austria: A structural market model analysis

International Nuclear Information System (INIS)

Kristöfel, Christa; Strasser, Christoph; Schmid, Erwin; Morawetz, Ulrich B.

2016-01-01

EU bioenergy policies and oil price hikes have resulted in a significant increase of installed pellet boilers for residential heating. Hence, European demand for wood pellets has been growing faster and more steadily than supply leading to rising market prices in recent years. This article presents an econometric analysis of demand and supply of wood pellets in the residential heating sector in Austria, one of the most dynamic markets for residential pellets. Annual and monthly time series data between 2000 and 2014 are used in a two-stage least-squares (2SLS) regression to estimate supply and demand elasticities of wood pellets. In all model specifications, pellets demand is found to be inelastic (from −0.66 to −0.76) and pellets supply unit-elastic (from 1.03 to 1.18). Thus, consumers are highly exposed to price changes resulting from supply shocks. Policies which support investments in pellet boilers will shift the demand of wood pellets and likely leading to higher prices for consumers. - Highlights: • Characterisation of the European pellet market. • A structural market model for wood pellets in Austria. • Estimation of supply and demand price elasticities using a two-stage least-squares (2SLS) regression. • Pellets demand is found to be inelastic and pellets supply unit-elastic in the short run. • Policies stimulating demand will likely increase pellet and sawmill by-product prices.

Market Strategies for Climate Change

Energy Technology Data Exchange (ETDEWEB)

Kolk, A.; Pinkse, J. [Business School, University of Amsterdam, Amsterdam (Netherlands)

2004-06-01

The issue of climate change has attracted increasing business attention in the past decade. Whereas companies initially aimed primarily at influencing the policy debate, corporate strategies increasingly include economic responses. Existing classifications for climate change strategies however still reflect the political, non-market components. Using empirical information from the largest multinational companies worldwide, this article examines current market responses, focusing on the drivers (threats and opportunities) and the actions being taken by companies to address climate change. It also develops a typology of climate strategies that addresses the market dimensions, covering both the aim (strategic intent) and the degree of cooperation (form of organisation). The aim turns out to be either innovation or compensation, while the organisational arrangements to reach this objective can be oriented at the company level (internal), at companies' own supply chain (vertical) or at cooperation with other companies (competitors or companies in other sectors - horizontal). The typology can assist managers in deciding about the strategic option(s) they want to choose regarding climate change, also based on the insights offered by the paper about the current state of activities of other companies worldwide.

EU SINGLE FINANCIAL MARKET – PROSPECTS FOR CHANGES

Directory of Open Access Journals (Sweden)

Małgorzata Mikita

2012-04-01

Full Text Available The global financial crisis has revealed the weaknesses of the European financial market, which triggered the European Union (EU work on further integration of this market. The aim of this article is to present the direction of changes concerning the integration of the EU financial market. These changes are mainly related to the issue of supervising the EU financial market, regulating the institutions operating in this market, protecting customers, improving the effectiveness of the market, its transparency and liquidity, as well as improving management in crisis situations.

Spanish generation market: structure, design and results

International Nuclear Information System (INIS)

Agosti, L.; Padilla, A. J.; Requejo, A.

2007-01-01

This paper provides an overview of the structure, design and outcome of the Spanish generation market from 1998, when the market was liberalised, to date. More precisely, this paper reviews the history of the liberalisation process; describes the structure of the generation market and its evolution over time; analyses the existence of market power; and evaluates the outcome of the liberalisation process from the viewpoint of its impact on al locative efficiency, productive efficiency and dynamic efficiency. The paper concludes with a brief summary of recent regulatory reforms. (Author)

Gold-Stock Market Relationship: Emerging Markets versus Developed Markets

Directory of Open Access Journals (Sweden)

Jalal Seifoddini

2017-09-01

Full Text Available We perform a comparative study on the gold-stock market relationship in U.S. stock market as a developed market and in Iran stock market as an emerging market. By considering appropriate variables for emerging markets and by providing a more proper methodology, we improve earlier studies. According to our findings, the relationship between stock market returns and gold price returns does not follow any specific regimes and that this relationship changes in short and long term returns. It is necessary to mention that in the present research, we did not consider this relationship in major structural changes in the economies and instead considered usual economic circumstances that investors are regularly faced with in their investment decisions.

Estimating market probabilities of future interest rate changes

OpenAIRE

Hlušek, Martin

2002-01-01

The goal of this paper is to estimate the market consensus forecast of future monetary policy development and to quantify the priced-in probability of interest rate changes for different future time horizons. The proposed model uses the current spot money market yield curve and available money market derivative instruments (forward rate agreements, FRAs) and estimates the market probability of interest rate changes up to a 12-month horizon.

The interplay between money market development and changes in monetary policy operations in small European countries, 1980 - 2000

OpenAIRE

Forssbæck, Jens; Oxelheim, Lars

2007-01-01

We study the interplay between money market development and changes in monetary policy operating procedures in 11 European countries from c. 1980 up to the launch of EMU. Aspects of money market development such as the size and structure of different market segments, and institutional and regulatory changes, are addressed. We recount and empirically examine the extent of reorientation of monetary policy instruments away from quantitative direct control instruments toward indirect market-based...

Changes in the Medicare home health care market: the impact of reimbursement policy.

Science.gov (United States)

Choi, Sunha; Davitt, Joan K

2009-03-01

The Balanced Budget Act of 1997 introduced 2 new reimbursement structures, the Interim Payment System (IPS, 1997-2000) and the Prospective Payment System (PPS, begun October 2000) for Medicare home health agencies (HHAs) under the fee-for-service program. This article describes and compares the impact of these changes on the Medicare home health market from a period before the BBA through the IPS and PPS in relation to agency characteristics. A secondary analysis of 1996, 1999, and 2002 Provider of Services data was conducted on all Medicare-certified HHAs. Frequencies and rates of change were calculated by agency characteristics to describe changes in the number of active agencies through those years. Logistic regression models were used to compare factors associated with market exits under different payment systems. The results indicate dramatic but disproportional changes in response to the IPS and the PPS among Medicare home health care agencies. Agency closures were greater and market entries fewer during the IPS, but more branch offices/subunits were closed during the PPS. Proprietary and freestanding agencies experienced greater volatility throughout, with the greatest number of closures seen in Region VI (Dallas). These results demonstrate the direct impact of policy changes on the home health care market and highlight the need to evaluate policy changes to understand both intended and unintended impacts on health markets. Future research should analyze the effect of these policy changes on other healthcare providers and systems and their impact on health outcomes for Medicare beneficiaries.

Changing health behaviors with social marketing.

Science.gov (United States)

Suarez-Almazor, M E

2011-08-01

Social marketing uses marketing techniques to promote healthy attitudes and behaviors. As in traditional marketing, the development and implementation of social marketing programs is based on the four P's: product, price, place, and promotion, but it also incorporates the partnership and participation of stakeholders to enhance public health and engage policy makers. The "product" in social marketing is generally a behavior, such as a change in lifestyle (e.g., diet) or an increase in a desired health practice (e.g., screening). In order for people to desire this product, it must offer a solution to a problem that is weighed with respect to the price to pay. The price is not just monetary, and it often involves giving something up, such as time (e.g., exercising) or a wanted, satisfying behavior (e.g., smoking). In its development phase, social marketing incorporates qualitative methods to create messages that are powerful and potentially effective. The implementation of the programs commonly involves mass campaigns with advertisement in various media. There have been a few social media campaigns targeting bone health that have been disseminated with substantial outreach. However, these have not been systematically evaluated, specifically with respect to change in behavior and health outcomes. Future campaigns should identify target behaviors that are amenable to change such as bone mass measurement screening or exercise. Audience segmentation will be crucial, since a message for young women to increase peak bone mass would be very different from a message for older individuals who have just experienced a fracture. Campaigns should involve key stakeholders, including policy makers, health providers, and the public. Finally, success must be carefully evaluated, not just by the outreach of the campaign, but also by a change in relevant behaviors and a decrease in deleterious health outcomes.

WELFARE IMPLICATIONS OF TIMBERLAND OWNERSHIP CHANGES IN THE U.S. TIMBER MARKETS

Directory of Open Access Journals (Sweden)

Mohammad Mahfuzur Rahman

2016-07-01

Full Text Available In the last two decades, many forest product firms in the U.S. either divested their timberlands to timber investment management organizations (TIMOs and conservation organizations or converted their corporate structures from C corporations to real estate investment trusts (REITs. All landowners sold smaller timberland tracts for nonforestry uses. Reduced timber supplies from conservation organizations and timberland loss to other nonforestry uses have consequences on producer and consumer surpluses in the U.S. timber markets. Equilibrium displacement model has been employed to evaluate the welfare changes in U.S. timber markets attributed to timberland ownership changes. Net reduction of timber supply contributed to the reduction of social surplus by $43 million in 2006. Compared to the $33 billion plus U.S. timber markets, this welfare reduction was small. Overall, this article explains the shifts of economic surpluses among producers and net surplus reduction for the society attributed to timberland ownership changes in the United States.

Beyond Needs Assessments: Marketing as Change Agent.

Science.gov (United States)

Piland, William E.

1984-01-01

Views marketing techniques as agents of change providing valuable assistance to community college decision makers. Discusses the importance of a balance among the four P's of marketing (i.e., promotion, price, place, and product); and seven procedural steps in developing a sound marketing strategy. (DMM)

From a fuel supplier to an active participant: Shell's view of the opportunities offered by a changing power market

International Nuclear Information System (INIS)

Nyhan, J.

1998-01-01

In the last 10 years, the power generation market has seen radical changes. The coming years will see yet more change. Although the pace of change may be uneven across Europe, it is clear that the old reference points for the power generation market are no longer valid. Along with other market players, Shell has re-evaluated the role it wishes to play in the power generation market. Although it has long operated large generation capacity on its own sites, Shell's role has been that of a fuel supplier to monopoly power generation and distribution organizations, which were largely state controlled . Privatization and liberalization have been followed by changing market structures tending to push risk towards the producer. This evolution presents challenges for the normal IPP structure, where market risk is transferred and offers an opportunity for the active participation of the fuel supplier in meeting these challenges. In 1996, Shell decided to embrace the changes in power generation market. Already, significant steps have been taken in markets in Asia, Latin America and in Europe. The differing requirements of each of these markets means there are no standard solutions and requires Shell to devise flexible frameworks which meet the customer's needs. Shell is bringing its significant strengths to the power generation market and looks forward to participating on a world wide scale in the industry at this exciting phase in its development

A global assessment of market accessibility and market influence for global environmental change studies

Energy Technology Data Exchange (ETDEWEB)

Verburg, Peter H [Institute for Environmental Studies, Amsterdam Global Change Institute, VU University Amsterdam, De Boelelaan 1087, 1081 HV Amsterdam (Netherlands); Ellis, Erle C [Department of Geography and Environmental Systems, University of Maryland, Baltimore County, Baltimore, MD 21250 (United States); Letourneau, Aurelien, E-mail: Peter.Verburg@ivm.vu.nl [UMR 5175 Centre d' Ecologie Fonctionnelle and Evolutive, Centre National de la Recherche Scientifique, 1919 Route de Mende, 34293 Montpellier cedex 5 (France)

2011-07-15

Markets influence the global patterns of urbanization, deforestation, agriculture and other land use systems. Yet market influence is rarely incorporated into spatially explicit global studies of environmental change, largely because consistent global data are lacking below the national level. Here we present the first high spatial resolution gridded data depicting market influence globally. The data jointly represent variations in both market strength and accessibility based on three market influence indices derived from an index of accessibility to market locations and national level gross domestic product (purchasing power parity). These indices show strong correspondence with human population density while also revealing several distinct and useful relationships with other global environmental patterns. As market influence grows, the need for high resolution global data on market influence and its dynamics will become increasingly important to understanding and forecasting global environmental change.

A global assessment of market accessibility and market influence for global environmental change studies

Science.gov (United States)

Verburg, Peter H.; Ellis, Erle C.; Letourneau, Aurelien

2011-07-01

Markets influence the global patterns of urbanization, deforestation, agriculture and other land use systems. Yet market influence is rarely incorporated into spatially explicit global studies of environmental change, largely because consistent global data are lacking below the national level. Here we present the first high spatial resolution gridded data depicting market influence globally. The data jointly represent variations in both market strength and accessibility based on three market influence indices derived from an index of accessibility to market locations and national level gross domestic product (purchasing power parity). These indices show strong correspondence with human population density while also revealing several distinct and useful relationships with other global environmental patterns. As market influence grows, the need for high resolution global data on market influence and its dynamics will become increasingly important to understanding and forecasting global environmental change.

A global assessment of market accessibility and market influence for global environmental change studies

International Nuclear Information System (INIS)

Verburg, Peter H; Ellis, Erle C; Letourneau, Aurelien

2011-01-01

Markets influence the global patterns of urbanization, deforestation, agriculture and other land use systems. Yet market influence is rarely incorporated into spatially explicit global studies of environmental change, largely because consistent global data are lacking below the national level. Here we present the first high spatial resolution gridded data depicting market influence globally. The data jointly represent variations in both market strength and accessibility based on three market influence indices derived from an index of accessibility to market locations and national level gross domestic product (purchasing power parity). These indices show strong correspondence with human population density while also revealing several distinct and useful relationships with other global environmental patterns. As market influence grows, the need for high resolution global data on market influence and its dynamics will become increasingly important to understanding and forecasting global environmental change.

Structural change in developing countries: has it decreased gender inequality?

OpenAIRE

Michelle Rendall

2012-01-01

This paper examines the evolution of female labor market outcomes from 1987 to 2008 by assessing the role of changing labor demand requirements in four developing countries: Brazil, Mexico, India and Thailand. The results highlight the importance of structural change in reducing gender disparities by decreasing the labor demand for physical attributes. The results show that India, the country with the greatest physical labor requirements, exhibits the largest labor market gender inequality. I...

Institutional change in European natural gas markets and implications for energy security: Lessons from the German case

International Nuclear Information System (INIS)

Westphal, Kirsten

2014-01-01

This article focuses on institutional change in the German gas market driven by EU internal market and climate policies. It argues that institutional change has functional externalities for energy security. The German gas market provides a useful case study, as Germany is the biggest continental gas market, a major hub and transport country which has largely privatised, unbundled and separated its natural gas undertakings. Transition is ongoing, tending towards an internal market. Inter/national natural gas economics is in flux. Institutional evolution has repercussions for corporate and market structures, the operating of the system and the realization of transactions. Changes in the institutional framework crucially affect energy security, which is often associated with institutional stability. On the basis of this case study, it is argued herein that the security of natural gas supplies should be reexamined in the context of the developments described above, since overall the institutional changes in natural gas security lag behind the EU’s internal natural gas market development. - Highlights: • EU natural gas market regulation primarily aims to establish competitive markets. • German/EU regulatory approach has externalities for supply security. • Institutional changes and breaks with path dependencies take place in Germany/the EU. • Institutional change results in increasing uncertainty and complexity. • Subsequent change in perceptions and expectations may destabilise trade relations

Structure of Maiduguri cattle market, Borno State, Nigeria | Bila ...

African Journals Online (AJOL)

Market structure is an important factor that influences the performance and efficiency of a market. The study aimed at determining the structure of Maiduguri cattle market. Primary data were collected, from questionnaires randomly administered to the respondents. Descriptive statistics was used to analyse product ...

Determinants of Market Structure and the Airline Industry

Science.gov (United States)

Raduchel, W.

1972-01-01

The general economic determinants of market structure are outlined with special reference to the airline industry. Included are the following facets: absolute size of firms; distributions of firms by size; concentration; entry barriers; product and service differentiation; diversification; degrees of competition; vertical integration; market boundaries; and economies of scale. Also examined are the static and dynamic properties of market structure in terms of mergers, government policies, and economic growth conditions.

Multifractal structures for the Russian stock market

Science.gov (United States)

Ikeda, Taro

2018-02-01

In this paper, we apply the multifractal detrended fluctuation analysis (MFDFA) to the Russian stock price returns. To the best of our knowledge, this paper is the first to reveal the multifractal structures for the Russian stock market by financial crises. The contributions of the paper are twofold. (i) Finding the multifractal structures for the Russian stock market. The generalized Hurst exponents estimated become highly-nonlinear to the order of the fluctuation functions. (ii) Computing the multifractality degree according to Zunino et al. (2008). We find that the multifractality degree of the Russian stock market can be categorized within emerging markets, however, the Russian 1998 crisis and the global financial crisis dampen the degree when we consider the order of the polynomial trends in the MFDFA.

Economic Growth, Structural Change and Productive Employment Linkages in India

DEFF Research Database (Denmark)

Aggarwal, Aradhna

2018-01-01

This article presents a quantitative analysis of growth, structural change and employment linkages at the aggregate level and by sector under the state- and market-led regimes in India. The underlying objectives are: (a) to understand how economic liberalization has affected the economic and labour...... intervention to broad base structural change for generating productive employment, which is at the core of poverty reduction....

Changes in the International Wine Market

OpenAIRE

Vlahović, Branislav; Puškarić, Anton; Tomašević, Dejan

2013-01-01

Knowing international market is a basis for segmentation and making right and timely marketing decisions regarding wine export. In this piece, we have analized the international wine market, and determined changes in international turnover, with largest importers and exporters for the period of 2001 - 2011. The average wine export in the world was 8,4 tons, with a growth tendency of 5,0% per year. Converted in money, the average export amounted to 22 billion US Dollars, which makes wine one o...

Market structure and the incentives to innovate in the Norwegian music industry

OpenAIRE

Engstrand, Andreas Prestegaard

2013-01-01

In this thesis, I study market structure and incentives to innovate in the Norwegian music industry. The industry has gone through significant changes since the year 2000. Every part of the value chain has been disrupted by technology, and the barriers to entry have decreased. However, major labels seem to have kept their market share. I define product and process innovation as respectively the release of a new artist and the release of a subsequent album. A product innovation ...

Structural changes in the minimal spanning tree and the hierarchical network in the Korean stock market around the global financial crisis

Science.gov (United States)

Nobi, Ashadun; Maeng, Seong Eun; Ha, Gyeong Gyun; Lee, Jae Woo

2015-04-01

This paper considers stock prices in the Korean stock market during the 2008 global financial crisis by focusing on three time periods: before, during, and after the crisis. Complex networks are extracted from cross-correlation coefficients between the normalized logarithmic return of the stock price time series of firms. The minimal spanning trees (MSTs) and the hierarchical network (HN) are generated from cross-correlation coefficients. Before and after the crisis, securities firms are located at the center of the MST. During the crisis, however, the center of the MST changes to a firm in heavy industry and construction. During the crisis, the MST shrinks in comparison to that before and that after the crisis. This topological change in the MST during the crisis reflects a distinct effect of the global financial crisis. The cophenetic correlation coefficient increases during the crisis, indicating an increase in the hierarchical structure during in this period. When crisis hits the market, firms behave synchronously, and their correlations are higher than those during a normal period.

Responsiveness of Higher Education to Changing Job Market Demand in Bangladesh

Science.gov (United States)

Dutta, Bipasha; Islam, Kazi Maruful

2017-01-01

Bangladesh economy has been transforming towards a market-based economy from a state-dominated centrally planned economy since the early 1980s, the pace of transformation has been slow though. The aim of this article is to see how the higher education system responds to the changes in the structure of the economy. The article argues that the…

Exploratory market structure analysis. Topology-sensitive methodology.

OpenAIRE

Mazanec, Josef

1999-01-01

Given the recent abundance of brand choice data from scanner panels market researchers have neglected the measurement and analysis of perceptions. Heterogeneity of perceptions is still a largely unexplored issue in market structure and segmentation studies. Over the last decade various parametric approaches toward modelling segmented perception-preference structures such as combined MDS and Latent Class procedures have been introduced. These methods, however, are not taylored for qualitative ...

Betting and Belief: Modeling the Impact of Prediction Markets on Public Attribution of Climate Change

Science.gov (United States)

Gilligan, J. M.; Nay, J. J.; van der Linden, M.

2016-12-01

Despite overwhelming scientific evidence and an almost complete consensus among scientists, a large fraction of the American public is not convinced that global warming is anthropogenic. This doubt correlates strongly with political, ideological, and cultural orientation. [1] It has been proposed that people who do not trust climate scientists tend to trust markets, so prediction markets might be able to influence their beliefs about the causes of climate change. [2] We present results from an agent-based simulation of a prediction market in which traders invest based on their beliefs about what drives global temperature change (here, either CO2 concentration or total solar irradiance (TSI), which is a popular hypothesis among many who doubt the dominant role of CO2). At each time step, traders use historical and observed temperatures and projected future forcings (CO2 or TSI) to update Bayesian posterior probability distributions for future temperatures, conditional on their belief about what drives climate change. Traders then bet on future temperatures by trading in climate futures. Trading proceeds by a continuous double auction. Traders are randomly assigned initial beliefs about climate change, and they have some probability of changing their beliefs to match those of the most successful traders in their social network. We simulate two alternate realities in which the global temperature is controlled either by CO2 or by TSI, with stochastic noise. In both cases traders' beliefs converge, with a large majority reaching agreement on the actual cause of climate change. This convergence is robust, but the speed with which consensus emerges depends on characteristics of the traders' psychology and the structure of the market. Our model can serve as a test-bed for studying how beliefs might evolve under different market structures and different modes of decision-making and belief-change. We will report progress on studying alternate models of belief-change. This

Competing in changing energy markets

International Nuclear Information System (INIS)

Hannell, M.D.

1995-01-01

This paper presents two perspectives: first, that of a successful exporter of energy products into world markets and second, that of a producer and seller of energy to consumers in South Australia and New South Wales - a large proportion of whom are privately and publicly owned trading organisations. It looks at Santos' experience in winning export markets for its liquid products; provides an overview of the changes - occurring and prospective to the Australian energy sector; and finally, discusses the outlook for Santos' South Australian gas business. The Australian energy-supply sectors have entered a period of unprecedented change. With energy being a contributor, and in many cases accounting for a large share of a traded good's cost, the impact of the emerging developments in the energy sector are of considerable significance

Impact of monetary policy changes on the Chinese monetary and stock markets

Science.gov (United States)

Tang, Yong; Luo, Yong; Xiong, Jie; Zhao, Fei; Zhang, Yi-Cheng

2013-10-01

The impact of monetary policy changes on the monetary market and stock market in China is investigated in this study. The changes of two major monetary policies, the interest rate and required reserve ratio, are analyzed in a study period covering seven years on the interbank monetary market and Shanghai stock market. We find that the monetary market is related to the macro economy trend and we also find that the monetary change surprises both of lowering and raising bring significant impacts to the two markets and the two markets respond to the changes differently. The results suggest that the impact of fluctuations is much larger for raising policy changes than lowering changes in the monetary market on policy announcing and effective dates. This is consistent with the “sign effect”, i.e. bad news brings a greater impact than good news. By studying the event window of each policy change, we also find that the “sign effect” still exists before and after each change in the monetary market. A relatively larger fluctuation is observed before the event date, which indicates that the monetary market might have a certain ability to predict a potential monetary change, while it is kept secret by the central bank before official announcement. In the stock market, we investigate how the returns and spreads of the Shanghai stock market index respond to the monetary changes. Evidences suggest the stock market is influenced but in a different way than the monetary market. The climbing of returns after the event dates for the lowering policy agrees with the theory that lowering changes can provide a monetary supply to boost the market and drive the stock returns higher but with a delay of 2 to 3 trading days on average. While in the bear market, the lowering policy brings larger volatility to the market on average than the raising ones. These empirical findings are useful for policymakers to understand how monetary policy changes impact the monetary and stock markets

Structural imbalances as a key factor of unemployment in the Russian labor market

Directory of Open Access Journals (Sweden)

I V Trotsuk

2015-12-01

Full Text Available In recent years, the problems of the Russian labor market, especially the scale and characteristics of youth unemployment, get very emotional and negative coverage in the scientific and journalistic discourses. The authors seek to show without any emotional evaluations what are the objective macroeconomic causes of the current situation with unemployment, especially youth unemployment. First, the authors identify the main challenges the labor market faces today in terms of the interaction of its key actors (workers, owners of the means of production, educational institutions and various intermediaries, including the state regulating the features of labor recruitment. Second, the article shows the main trends of the last decade that change the structure of employment of the economically active population. Third, the authors name the basic structural imbalances in the Russian labor market, primarily structural and professional imbalance between the demand for labor, the demand for vocational training and offer of educational services, which is quite evident, albeit in different ways, in all spheres of the economy. Fourth, the article describes the specific features of the youth labor market as both affected and contributing to the structural imbalances. Finally, the authors propose a methodology of macroeconomic forecasting that may reduce the problems the Russian society faces in the field of employment.

Study on the Chinese Goods Market Structure and Related Integrated Marketing Strategy

OpenAIRE

Qishen Zhou; Mingxing Yang

2013-01-01

This study aims to investigate the Chinese goods market structure and related integrated marketing strategy. In recent years, it is becoming more and more popular for Chinese consumers to go on luxury consuming in a variety of large cities in China, showing the increasing demand of luxury for Chinese people possessed relatively high fortune. Further, dozens of international famous luxury brands are pouring into the Chinese market such as LVMH and Gucci, recognizing the huge consumption demand...

Analysis of Changes in Market Shares of Commercial Banks Operating in Turkey Using Computational Intelligence Algorithms

OpenAIRE

Amasyali, M. Fatih; Demırhan, Ayse; Bal, Mert

2014-01-01

This paper aims to model the change in market share of 30 domestic and foreign banks, which have been operating between the years 1990 and 2009 in Turkey by taking into consideration 20 financial ratios of those banks. Due to the fragile structure of the banking sector in Turkey, this study plays an important role for determining the changes in market share of banks and taking the necessary measures promptly. For this reason, computational intelligence methods have been used in the study. Acc...

The impact of modern technology on changing marketing actions in organisations. Marketing 4.0

OpenAIRE

Świeczak Witold

2017-01-01

The article presents the theory that modern technologies are changing the way in which marketing is organised and that they will transform the prevailing composition of the market, while enterprises should come to terms with the act that having a market share will no longer suffice to maintain the market leader position. The aim of this paper is to provide an overview of the key challenges generated by technological innovations and to identify the opportunities for marketing in light of the n...

LENDING STRUCTURE AND MARKET RISK EXPOSURES: THE MALAYSIAN CASE

Directory of Open Access Journals (Sweden)

Aisyah Abdul Rahman

2009-01-01

Full Text Available This study addresses the linkages between lending structure and market risk exposure. The influence of lending structure is analysed by four measures: the real estate lending, the specialisation index, the short-term lending stability, and the medium-term lending stability. Our findings show that lending structure to some extent affects the market risk exposure to some extend. At the same time, listed bank holding companies showed higher levels of market risk during and after the 1997 Asian financial crisis. Meanwhile, the desired effect of bank mergers in terms of reducing market risk exposure did not materialise in this study. Thus, the findings of this study posits at least two implications; (1 policy makers should react accordingly in the decision-making process towards achieving the expected result of the monetary policy transmission mechanism, and (2 banks and investors should account the impact of lending structures in addition to the significance effect of loan expansion and management efficiency when determining market risk exposure of bank holding companies.

Hierarchical structure of stock price fluctuations in financial markets

International Nuclear Information System (INIS)

Gao, Ya-Chun; Cai, Shi-Min; Wang, Bing-Hong

2012-01-01

The financial market and turbulence have been broadly compared on account of the same quantitative methods and several common stylized facts they share. In this paper, the She–Leveque (SL) hierarchy, proposed to explain the anomalous scaling exponents deviating from Kolmogorov monofractal scaling of the velocity fluctuation in fluid turbulence, is applied to study and quantify the hierarchical structure of stock price fluctuations in financial markets. We therefore observed certain interesting results: (i) the hierarchical structure related to multifractal scaling generally presents in all the stock price fluctuations we investigated. (ii) The quantitatively statistical parameters that describe SL hierarchy are different between developed financial markets and emerging ones, distinctively. (iii) For the high-frequency stock price fluctuation, the hierarchical structure varies with different time periods. All these results provide a novel analogy in turbulence and financial market dynamics and an insight to deeply understand multifractality in financial markets. (paper)

Structure, conduct and performance of Plantain Marketing in Edo ...

African Journals Online (AJOL)

Structure, conduct and performance of Plantain Marketing in Edo State, Nigeria. ... marketing system, assess its performance and estimate the cost and returns in plantain marketing. ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

Optimizing the structure of the natural gas market using an agent-based modeling framework

Energy Technology Data Exchange (ETDEWEB)

Van Benthem, M.

2010-01-14

The overall research question guiding this study is as follows: what is the optimal structure of the natural gas market, considering both the degrees of affordability and supply security resulting from this structure? The sub-questions are: How can the concepts of supply security and affordability be usefully defined? (Chapter 2); What should a modeling framework for analyzing the natural gas market with regard to these concepts look like? (Chapters 3 and 4); What general conclusions can be drawn on the basis of this framework? (Chapter 5); What is the effect of liberalization on the Dutch natural gas market? (Chapter 6); What are the possible effects of current trends unfolding in the Dutch natural gas market? (Chapter 7). The framework constructed in this study implicitly contains the necessary elements for deriving a sustainability indicator too. However, to limit the scope of the study, sustainability will not be analyzed explicitly. Chapter 2 provides an introductory description of the natural gas market. Starting from a description of the natural gas value chain, the process of liberalization is described as a change in the organization of the value chain. In addition, the concepts of affordability and supply security are discussed and appropriate quantitative indicators for both objectives are identified. In Chapter 3, a survey of existing gas market models is performed. On the basis of this survey, a classification system for natural gas market models is developed. Furthermore, the characteristics of a modeling framework fit for the purpose of this study are derived. In Chapter 4, a general, quantitative framework for natural gas market modeling is developed on the basis of agent-based computational economics. The model's structure, its dynamics, output and data requirements are described. Furthermore, the properties of each agent are explored, and the possibilities for model verification and validation are outlined. Chapter 5 provides a number of

Optimizing the structure of the natural gas market using an agent-based modeling framework

International Nuclear Information System (INIS)

Van Benthem, M.

2010-01-01

The overall research question guiding this study is as follows: what is the optimal structure of the natural gas market, considering both the degrees of affordability and supply security resulting from this structure? The sub-questions are: How can the concepts of supply security and affordability be usefully defined? (Chapter 2); What should a modeling framework for analyzing the natural gas market with regard to these concepts look like? (Chapters 3 and 4); What general conclusions can be drawn on the basis of this framework? (Chapter 5); What is the effect of liberalization on the Dutch natural gas market? (Chapter 6); What are the possible effects of current trends unfolding in the Dutch natural gas market? (Chapter 7). The framework constructed in this study implicitly contains the necessary elements for deriving a sustainability indicator too. However, to limit the scope of the study, sustainability will not be analyzed explicitly. Chapter 2 provides an introductory description of the natural gas market. Starting from a description of the natural gas value chain, the process of liberalization is described as a change in the organization of the value chain. In addition, the concepts of affordability and supply security are discussed and appropriate quantitative indicators for both objectives are identified. In Chapter 3, a survey of existing gas market models is performed. On the basis of this survey, a classification system for natural gas market models is developed. Furthermore, the characteristics of a modeling framework fit for the purpose of this study are derived. In Chapter 4, a general, quantitative framework for natural gas market modeling is developed on the basis of agent-based computational economics. The model's structure, its dynamics, output and data requirements are described. Furthermore, the properties of each agent are explored, and the possibilities for model verification and validation are outlined. Chapter 5 provides a number of

Interbank Market Structure and Accurate Estimation of an Aggregate Liquidity Shock

OpenAIRE

Isakov, A.

2013-01-01

It's customary among money market analysts to blame interest rate deviations from the Bank of Russia's target band on the market structure imperfections or segmentation. We isolate one form of such market imperfection and provide an illustration of its potential impact on central bank's open market operations efficiency in the current monetary policy framework. We then hypothesize that naive (market) structure-agnostic liquidity gap aggregation will lead to market demand underestimation in so...

Does social marketing provide a framework for changing healthcare practice?

Science.gov (United States)

Morris, Zoë Slote; Clarkson, Peter John

2009-07-01

We argue that social marketing can be used as a generic framework for analysing barriers to the take-up of clinical guidelines, and planning interventions which seek to enable this change. We reviewed the literature on take-up of clinical guidelines, in particular barriers and enablers to change; social marketing principles and social marketing applied to healthcare. We then applied the social marketing framework to analyse the literature and to consider implications for future guideline policy to assess its feasibility and accessibility. There is sizeable extant literature on healthcare practitioners' non-compliance with clinical guidelines. This is an international problem common to a number of settings. The reasons for poor levels of take up appear to be well understood, but not addressed adequately in practice. Applying a social marketing framework brings new insights to the problem." We show that a social marketing framework provides a useful solution-focused framework for systematically understanding barriers to individual behaviour change and designing interventions accordingly. Whether the social marketing framework provides an effective means of bringing about behaviour change remains an empirical question which has still to be tested in practice. The analysis presented here provides strong motivation to begin such testing.

BASIC FACTORS OF MARKET CONCENTRATION

OpenAIRE

V. Fyliuk

2013-01-01

The paper systemizes factors which reinforce trends towards market concentration in all economic systems. These factors include factors related to the general changes in economic environment such as globalization of the world economy, state structural and taxation policies, cycle of economic development and changes in consumer demand. They also include factors related to competition (intensification of competition, companies’ desire to monopolize market and present market structure) and scien...

Endogenous Market Structures and Contract Theory. Delegation, principal-agent contracts, screening, franchising and tying

OpenAIRE

Etro Federico

2010-01-01

I study the role of unilateral strategic contracts for firms active in markets with price competition and endogenous entry. Traditional results change substantially when the market structure is endogenous rather than exogenous. They concern 1) contracts of managerial delegation to non-profit maximizers, 2) incentive principal-agent contracts in the presence of moral hazard on cost reducing activities, 3) screening contracts in case of asymmetric information on the productivity of the managers...

Can social marketing approaches change community attitudes towards leprosy?

Science.gov (United States)

Brown, Wendy

2006-06-01

This essay explores how the concept of social marketing can be employed to change attitudes towards leprosy. Firstly, the concept of social marketing is discussed, then the attitudes that people have about leprosy, the stigma that people with leprosy and their families may face, and the detrimental effects that this can have on their lives. The effect of knowledge and education on attitudes towards leprosy is discussed, as this can be a key component of social marketing campaigns. Various methods of social marketing used to change attitudes and reduce stigma are examined, such as mass media campaigns, school based education, methods which involve community leaders, and the integration and improvement of leprosy services. Principles of social marketing which can lead to the success of campaigns such as incorporating local beliefs are emphasized. The success of the social marketing campaign in Sri Lanka is described, which aimed to remove the fear of leprosy, and to encourage patients to seek and comply with treatment. Finally, it is argued that social marketing, used correctly, can be highly effective at changing community attitudes towards leprosy, reducing stigma and improving the lives of patients, who become able to seek treatment sooner as they lose their fear of stigmatization.

Capacity mechanisms and effects on market structure

International Nuclear Information System (INIS)

Elberg, Christina; Kranz, Sebastian

2014-01-01

Liberalized electricity markets are characterized by fluctuating priceinelastic demand of non-storable electricity, often defined by a substantial market share held by one or few incumbent firms. These characteristics have led to a controversial discussion concerning the need for and the design of capacity mechanisms, which combine some form of capacity payments with price caps in the spot market. The purpose of this study is to understand the effects of capacity mechanisms on the market structure. We consider a model with dominant firms and a competitive fringe and investigate the impact of price caps and capacity payments on investment incentives and market concentration. While lower price caps reduce the potential for the exercise of market power in static models, we find that in the dynamic model with endogenous investments, lower price caps result in an increase in market concentration, the frequency of capacity withholding and the profits of the dominant firms.

MARKET STRUCTURE AND PERFORMANCE OF TUNISIAN BANKS

Directory of Open Access Journals (Sweden)

Ines Ayadi

2013-04-01

Full Text Available The objective of this research is to examine the relationship between market structure and the performance of the Tunisian banking system over the period 1990-2009. The Data Envelopment Analysis (DEA method was used to assess the scores of x-efficiency and scale efficiency, the hypotheses of the market power theory and those of the efficient structure theory were tested. Our Results have shown that x-efficiency has had a positive and significant effect on the performance of the Tunisian commercial banks as well as the hypothesis of x-efficiency.

Dynamic international oil markets

International Nuclear Information System (INIS)

van der Linde, C.

1992-01-01

Dynamic International Oil Market Developments and Structure 1860-1990 discusses the logic of changing market structures of the international oil industry. The market structures have, in the course of time, oscillated between competition and oligopoly, as the oil market expanded, matured, stagnated, and expanded again. This book provides a dynamic interpretation of the intensifying struggle among producer, and consumer governments, and oil companies, over the distribution of economic rents and profits. In particular, it shows the shifting fortunes of the governments and companies as they try to control the recurring capacity constraints between the upstream and downstream sectors, generated by the instability of the oil market. The first part of the book examines market conditions and developments between 1860 and 1990; the second part analyzes market structures after 1945

The development of market power in the Spanish power generation sector: Perspectives after market liberalization

International Nuclear Information System (INIS)

Ciarreta, Aitor; Nasirov, Shahriyar; Silva, Carlos

2016-01-01

This paper provides a comprehensive analysis of the market power problem in the Spanish power generation sector and examines how and to which extent the market has developed in terms of market power concerns after the market liberalization reforms. The methodology applied in this study includes typical ex-post structural and behavioral measures employed to estimate potential for market power, namely: concentration ratios (CR) (for the largest and the three largest suppliers), the Herfindahl–Hirschman Index (HHI), Entropy, Pivotal Supply Index, the Residual Supply Index and Residual Demand Elasticity (RDE). The results are presented for the two largest Spanish generating companies (Endesa and Iberdrola) acting in the Iberian Electricity Market (MIBEL), and in the Spanish Day-ahead electricity market. The results show evidence that these companies have behaved much more competitively in recent periods than in the beginning of the market liberalization. In addition, the paper discusses important structural and regulatory changes through market liberalization processes in the Spanish Day-ahead electricity market. - Highlights: •Competition and regulation in the Spanish electricity market. •The methodology applied in this study: ex-post structural and behavioral measures. •Key dominant companies behaved more competitively in recent periods. •Important structural and regulatory changes in the Spanish electricity market.

Multifractal structure in Latin-American market indices

International Nuclear Information System (INIS)

Zunino, Luciano; Figliola, Alejandra; Tabak, Benjamin M.; Perez, Dario G.; Garavaglia, Mario; Rosso, Osvaldo A.

2009-01-01

We study the multifractal nature of daily price and volatility returns of Latin-American stock markets employing the multifractal detrended fluctuation analysis. Comparing with the results obtained for a developed country (US) we conclude that the multifractality degree is higher for emerging markets. Moreover, we propose a stock market inefficiency ranking by considering the multifractality degree as a measure of inefficiency. Finally, we analyze the sources of multifractality quantifying the contributions of two factors, the long-range correlations of the time series and the broad fat-tail distributions. We find that the multifractal structure of Latin-American market indices can be mainly attributed to the latter.

A global assessment of market accessibility and market influence for global environmental change studies

NARCIS (Netherlands)

Verburg, P.H.; Ellis, E.C.; Letourneau, A.

2011-01-01

Markets influence the global patterns of urbanization, deforestation, agriculture and other land use systems. Yet market influence is rarely incorporated into spatially explicit global studies of environmental change, largely because consistent global data are lacking below the national level. Here

An Analysis of Current Labor Market Developments and Structures in European Union – in Correlation with Labor Market Flexicurity Requirements

Directory of Open Access Journals (Sweden)

Alina Ştefania CHENIC (CREŢU

2012-03-01

Full Text Available Althougt at first sight the crisis appears as a disturbance of the regular course of economic, social and organizational, this is a necessary step that turns old structures and relations to some superior functional. Under these conditions, hawever, it is absolutely necessary that the situation be properly evaluated by an analysis of developments and labour market structures and be taken right decision for the purposes of proper management of existing and potential recovery so far underused resources: people, values and strategies. The impact of the economic crisis on labour markets displays significant variation from one country to another. Employment rates and unemployment rates will be compared between European countries and for different groups of workers. Some countries have succeeded in keeping employment levels up and unemployment levels down through recourse to employmentpreservation and employment-creation measures combined with an expansion of active labour market policies. Moreover, certain labour market groups or categories have been particularly hard hit by the crisis. These include men, temporary workers, youth and migrant workers. In the EU Member States, crossing the crisis period was marked by changes in the sense orientation flexibleworking time and conservation work, a strategy that ensures rapid and reversible adaptation to the needs ofproduction entities present.

Structural change and agricultural diversification since China’s reforms

Directory of Open Access Journals (Sweden)

Lihua Li

2017-01-01

Full Text Available Structural change is considered the major engine in fostering a country’s growth. In the agricultural sector, diversification is the commonly used development strategy to increase rural sector’s flexibility, and to respond to improving technologies and market conditions. This study examined agricultural development and transformation during China’s socio-economic reforms. In particular, it empirically investigated whether the change of China’s agricultural structure is consistent with structural change theory and observed outcomes from other countries. The degree of agricultural diversification was quantitatively measured at a regional scale using the Herfindahl index. An underdeveloped province in northwest China was studied to provide insights into the interaction among structural change, agricultural diversification, and implemented development policies. Aggregate-level analyses suggest that China’s agricultural transformation pattern is consistent with those of other developing countries. A specific provincial-level analysis shows that environmentally and economically disadvantaged regions are slower to diversify their economy than better endorsed regions.

Health marketing and behavioral change: a review of the literature.

Science.gov (United States)

Chichirez, Cristina-Mihaela; Purcărea, Victor Lorin

2018-01-01

Health marketing as a part of social marketing, must influence individuals, voluntarily, through various social programmes, in order to accept, reject, modify or abandon a behavior in favour of a healthier lifestyle. Acting on individual behavior change, social marketing can influence the behaviour of those who decide public policies, with positive effects in social change. In time, in order to understand and predict a behavior, a number of theories, models and tactics were developed with the aim to identify factors and mechanisms with the greatest impact in the changing process. Cognitive- social theories proved to be more effective, because they offer guidelines for conducting research in behavioral change.

Health marketing and behavioral change: a review of the literature

Science.gov (United States)

Chichirez, Cristina-Mihaela; Purcărea, Victor Lorin

2018-01-01

Health marketing as a part of social marketing, must influence individuals, voluntarily, through various social programmes, in order to accept, reject, modify or abandon a behavior in favour of a healthier lifestyle. Acting on individual behavior change, social marketing can influence the behaviour of those who decide public policies, with positive effects in social change. In time, in order to understand and predict a behavior, a number of theories, models and tactics were developed with the aim to identify factors and mechanisms with the greatest impact in the changing process. Cognitive- social theories proved to be more effective, because they offer guidelines for conducting research in behavioral change. PMID:29696059

Organizational Structure and Product Market Competition

OpenAIRE

Jung Hur; Yohanes E. Riyanto

2007-01-01

We analyze an interaction between a firm’s choice of organizational structure and competition in the product-market. Two organizational structures are considered, namely a centralized-organization, whereby formal authority is retained by a principal, and a decentralized-organization, whereby formal authority is delegated to an agent. We show that the choice of organizational structure hinges on a trade-off between operating-profit and managerial effort. The principal may prefer to choose an o...

Durability of capital goods: taxes and market structure

Energy Technology Data Exchange (ETDEWEB)

Raviv, A [Carnegie-Mellon Univ., Pittsburgh; Zemel, E

1977-04-01

This paper examines the durability of capital goods produced under different market structures when tax considerations are included. Since investment tax credit and depreciation allowances are realized by the owner of the durable good, the durability of products produced by an industry which sells its output differs from that of an industry which rents. For each of these two commercial forms, both monopolistic and competitive market structure are considered. Potential gains from different forms of regulation are discussed.

Change Implementation in Emerging Markets

DEFF Research Database (Denmark)

Thomsen, Jeanette; Sundgaard, Elin

2010-01-01

firm (new Danish C.E.O. and Danish production managers) and establishment of administration at a new production site lead to changes in the sub-systems elements of both machines and people and also the changes in the metarules (new authority system) and values and norms.......  This paper seeks to identify the types of development changes taking place in Danish subsidiaries in Baltic countries in the accounting function. A longitudinal case study is used. The paper uses Laughlin's ‘colonizing‘ model of organizational change to understand the driving forces for change....... The knowledge of change in the Danish subsidiaries in an institutional context can help managers in subsidiaries to gain a better understanding of the overall situation and make more appropriate decisions in change implementation in subsidiaries in emerging markets. The environmental disturbance in the case...

Finding the core : Network structure in interbank markets

NARCIS (Netherlands)

in 't Veld, Daan; van Lelyveld, Iman

2014-01-01

This paper investigates the network structure of interbank markets. Using a dataset of interbank exposures in the Netherlands, we corroborate the recent hypothesis that the core periphery model is a 'stylised fact' of interbank markets. We find a core of highly connected banks intermediating between

Forward projections of energy market competitiveness rankings

International Nuclear Information System (INIS)

2008-01-01

By July 2007, the provisions of the second Internal Market Directives for Electricity and Gas had been implemented in the majority of EU Member States. These fundamental changes in market opening, ownership structures and network access conditions, together with the increasing maturity of liberalised trading and retail markets, can be expected to affect the behaviour of existing and potential market participants, consequently affecting the energy market competitiveness of alternative countries. While the UK was the most competitive of the EU and G7 energy markets in 2006, the dynamic effect of the liberalisation programme across Continental Europe may challenge that position in the future. This report assesses how competitiveness rankings may evolve in the future, identifying changes that could take place in the UK and the rest of the EU from 2007 to 201 1. It goes on to explore the potential risk that the competitiveness of the UK's energy markets will decline relative to those of other countries in the EU and G7, to the extent that the PSA target will not be met. A detailed analysis of the potential changes in the UK markets is undertaken, including the development of upside and downside scenarios showing the positive and negative effects of changes in market structure and behaviour on the UK's competitiveness score. Changes in market structures required for energy markets in both the 2006 comparator group and the rest of the EU to become as competitive as the UK are then assessed, along with the plausibility of these changes given the current and future market, legislative and regulatory environments

Structure of the poultry meat market in Ukraine

Directory of Open Access Journals (Sweden)

Iryna Salkova

2017-12-01

Full Text Available The purpose of this paper is to carry out a marketing research of the state and structure of the poultry meat market in Ukraine; to identify the factors that hold back and stimulate the development of the poultry market and potential opportunities for growth. The competitive advantages of producers are determined and the main trends in the poultry meat market are characterized. The balance of supply and demand for meat and meat products in Ukraine has been studied. The Herfindahl-Hirschman index was used to determine the level of competition in the chicken meat market, which showed the disadvantages of competition in the market. The market is monopolistic, which poses a threat to the development of competition. The constraining factors of poultry meat market development are determined. Based on the conducted research, potential opportunities for the development of the industry and the competitiveness of the Ukrainian poultry meat producer in the external and internal market are identified.

Regulatory assessment of brand changes in the commercial tobacco product market.

Science.gov (United States)

Wayne, G Ferris; Connolly, G N

2009-08-01

Regulatory oversight of tobacco product design has gained momentum in the US and internationally. Appropriate standards for assessing commercial brands and characterising product features must be considered a priority. An area of potential concern is in-market design changes adopted within a single commercial brand over time. Internal tobacco industry documents were identified and used to assess internal discussion of product guidelines and practices regarding in-market brand changes. Commercial tobacco products undergo a constant process of revision in-market, beginning at the most basic level of physical product characteristics and components, and including every aspect of design. These revisions commonly exceed guidelines for acceptable product variance adopted within the industry. While consumer and market testing is conducted to ensure that products remain acceptable to users, explicit marketing often may not accompany brand changes. In the absence of such marketing, it should not be assumed that a brand remains unchanged. For manufacturers, assessment of competitor brands includes identification and analysis of non-routine changes; that is, those changes likely to significantly alter the character of a given brand. Regulators must adopt a similar practice in determining standards for product evaluation in the face of ongoing commercial product revision.

Horticultural marketing channels in Kenya : structure and development

NARCIS (Netherlands)

Dijkstra, T.

1997-01-01

This study analyses the structure and development of horticultural marketing channels in Kenya. It is based primarily on a farm survey among some 500 farmers in Nyandarua, Kisii and Taita Taveta Districts and a trade survey of about 750 horticultural traders in 18 different market places.

Structure of labour market and unemployment in Sudan

NARCIS (Netherlands)

Nour, S.

2014-01-01

This paper examines the structure of the labour market and unemployment in Sudan. One advantage of our analysis is that we explain several stylized facts on the labour market using new secondary data on population, employment and unemployment based on Sudan Central Bureau of Statistics (2010) the

Changing markets - Medicinal plants in the markets of La Paz and El Alto, Bolivia.

Science.gov (United States)

Bussmann, Rainer W; Paniagua Zambrana, Narel Y; Moya Huanca, Laura Araseli; Hart, Robbie

2016-12-04

Given the importance of local markets as a source of medicinal plants for both healers and the population, literature on market flows and the value of the plant material traded is rather scarce. This stands in contrast to wealth of available information for other components of Bolivian ethnobotany. The present study attempts to remedy this situation by providing a detailed inventory of medicinal plant markets in the La Paz-El Alto metropolitan area, hypothesizing that both species composition, and medicinal applications, have changed considerably over time. From October 2013-October 2015 semi-structured interviews were conducted with 39 plant vendors between October 2013 and October 2015 in the Mercado Rodriguez, Mercado Calle Santa Cruz, Mercado Cohoni, Mercado Cota Cota, and Mercado Seguencoma and Mercado El Alto in order to elucidate more details on plant usage and provenance. The results of the present study were then compared to previous inventories of medicinal plants in La Paz and El Alto studies to elucidate changes over time and impact of interview techniques. In this study we encountered 163 plant species belonging to 127 genera and 58 families. In addition, 17 species could not be identified. This species richness is considerably higher than that reported in previous studies (2005, 129 species of 55 families; 2015, 94 identified species). While the overall distribution of illness categories is in line with older reports the number of species used per application, as well as the applications per species, were much higher in the present study. Overall, informant consensus was relatively low, which might be explained by the large number of new species that have entered the local pharmacopoeia in the last decade, although some species might simply have been missed by previous studies. In course of the present study it became apparent that even well known species might often be replaced by other apparently similar but botanically unrelated species due to

Price formation and market mechanisms

International Nuclear Information System (INIS)

Neff, T.L.

1991-01-01

World markets for nuclear fuel have changed greatly since the 1970s. In earlier days, firms specializing in mining, conversion, enrichment and fabrication negotiated directly with end users, primarily under long term contracts at specified prices. This old model is gone. Market structure has been transformed: traditional suppliers now compete with traders, some of whom can offer a much larger menu of products and terms than primary suppliers. Utilities act as traders, converters as brokers, brokers as traders, producers as buyers, and so on. De-enrichment, de-conversion, loans, swaps, interchanges and other new kinds of transactions have proliferated. These changes in market structure and market mechanisms have been accompanied by substantial changes in price formation, that is the process by which market price is set. Today, the level and direction of price are set in a trading dominated spot market environment, fuelled by inventory liquidation and Soviet and other non-traditional supply. (author)

The Impact of Sovereign Credit Rating Changes on Emerging Stock Markets

OpenAIRE

YIN, WEIGUO

2008-01-01

This study investigate the impact of sovereign rating change in emerging markets by using 42 sample counties over the period Jan. 1999 to Aug. 2008. The concurrent relationship between sovereign rating changes and the associated stock market spread can be established: the spreads tend to rise (fall) when upgrades (downgrades) occur. Surprisingly, according to Fitch report regarding the emerging market liquidity, we divide the whole time line into two sub-periods. It is found that rating chang...

China’s Capital Market: its Structure and Characteristics

Directory of Open Access Journals (Sweden)

Ionela Bălțătescu

2010-10-01

Full Text Available The purpose of the present article is to briefly overview the main characteristics and structure of China’s capital market. The first part of the paper presents the main stock exchanges, futures exchanges and commodity exchanges of China, securities products available in China, China’s level of domestic market capitalization and other key financial information and statistics regarding China capital market. The second part of the paper contains a short review on the liberalization and reforms of China’s financial market, especially the programs QFII (Qualified Foreign Institutional Investor, QDII (Qualified Domestic Institutional Investor and mini-QFII.

Brand name changes help health care providers win market recognition.

Science.gov (United States)

Keesling, G

1993-01-01

As the healthcare industry continues to recognize the strategic implications of branding, more providers will undertake an identity change to better position themselves in competitive markets. The paper examines specific healthcare branding decisions, the reasons prompting brand name decisions and the marketing implications for a change in brand name.

Dynamic asset trees in the US stock market: Structure variation and market phenomena

International Nuclear Information System (INIS)

Huang, Wei-Qiang; Yao, Shuang; Zhuang, Xin-Tian; Yuan, Ying

2017-01-01

In this work, employing a moving window to scan through every stock price time series over a period from 2 January 1986 to 20 October 2015, we use cross-correlations to measure the interdependence between stock prices, and we construct a corresponding minimal spanning tree for 170 U.S. stocks in every given window. We show how the asset tree evolves over time and describe the dynamics of its normalized length, centrality measures, vertex degree and vertex strength distributions, and single- and multiple-step edge survival ratios. We find that the normalized tree length shows a tendency to decrease over the 30 years. The power-law of vertex degree or vertex strength distribution does not hold for all trees. The survival ratio analysis reveals an increased stability of the dependence structure of the stock market as time elapses. We then examine the relationship between tree structure variation and market phenomena, such as average, volatility and tail risk of stock (market) return. Our main observation is that the normalized tree length has a positive relationship with the level of stock market average return, and it responds negatively to the market return volatility and tail risk. Furthermore, the majority of stocks have their vertex degrees significantly positively correlated to their average return, and significantly negatively correlated to their return volatility and tail risk.

A General Theory of Endogenous Market Structures

OpenAIRE

Federico Etro; Paolo Bertoletti

2014-01-01

We provide a unified approach to imperfect (monopolistic, Bertrand and Cournot) competition equilibria with demand functions derived from symmetric preferences over a large but finite number of goods. The equilibrium markups depend on the Morishima Elasticity of Substitution/Complementarity between goods, and can be derived directly from the utility functions and ranked unambiguously. We characterize the endogenous market structures, their dependence on market size, income and firms’ producti...

Market Structure and Price Transmission of Eggs Commodity

Directory of Open Access Journals (Sweden)

Abdul Aziz Ahmad

2016-10-01

Full Text Available Purposes of this research are to determine some characteristics of distribution channel, market structure, and price maker transmission in purebred chicken egg commodity in Banyumas District, Central Java Province. Primary data applied on this research is from all channel distribution levels; from producers to final consumers. Meanwhile secondary data is collected from government official sources, such as BPS-Statistic of Banyumas Disrict, Banyumas Department of Industry, Trading and Cooperation, and previous researches which has been made by researcher team. Sample determining is directed by proportional random sampling methods. Some measurements are applied to this research, including to; Herfindahl Index (HI, Concentration Ratio (CF, and Minimum Efficiency Scale (MES to investigate market structure; and Asymmetric Price Transmission (APT to determine price transmission mechanism model. This research finds that (1 the distribution channel of egg commodity is spitted to different channel, the first channel: egg producer – retail traders – final consumers, and second channel: egg producers – whole seller – retail traders – final consumers; (2 market structure which is created to this farming specific commodity is perfect market; (3 price transmission mechanism analysis statistically shows that there is almost no existence of dominant power in price formation.

Electricity and gas: does market liberalization change something?

International Nuclear Information System (INIS)

Anon.

2005-01-01

Since mid-2004, all professional consumers in France can change of gas and power supplier. Even if Electricite de France (EdF) and Gaz de France (GdF), the historical French electric and gas utilities, have lost some market shares, no heavy drain on their train of clients has occurred. The new intervening parties focus their offer and target 'the most profitable clients' with a mix which combines attractive prices and new services. This article explains what has changed with the deregulation of energy markets in terms of organization, prices and tariffs. (J.S.)

Changing market for renewable energy in New England

Energy Technology Data Exchange (ETDEWEB)

Jacobs, M. [Second Wind Inc., Austin, TX (United States)

1997-12-31

The author discusses the rapidly changing power market in New England in the face of deregulation of the electric power industry. Utilities are moving to sell their generation assets, and the new players in the market are striving to present themselves as active in a green market. But there is little knowledge about renewable energy sources on the part of the new marketers, and little capacity available, while there does appear to be customer demand. Legislative action seems to be putting in place policies making renewable energy a more attractive option. The author looks at the disparity between demand and availability at this time.

The impact of modern technology on changing marketing actions in organisations. Marketing 4.0

Directory of Open Access Journals (Sweden)

Świeczak Witold

2017-12-01

Full Text Available The article presents the theory that modern technologies are changing the way in which marketing is organised and that they will transform the prevailing composition of the market, while enterprises should come to terms with the act that having a market share will no longer suffice to maintain the market leader position. The aim of this paper is to provide an overview of the key challenges generated by technological innovations and to identify the opportunities for marketing in light of the new communication and information technologies so that quantifiable benefits can be gained. The research topic underpinning this paper is: 1 an analysis of social media use by the Millennial generation; 2 an evaluation of the attitudes of SMEs towards the incorporation of information technology into their current marketing practices; 3 determining the implementation possibilities of Marketing 4.0 by promoting a flexible approach to organising marketing actions. Following a review of the available literature on the subject, we will present a concept of the model of the flexible organisation of marketing actions. The D3I2C concept combines today’s marketing actions and digital transformation. It can be harnessed by academia and other organisations seeking guidance on the implementation of transformation in the organisation of marketing actions.

Impact of climate change on Taiwanese power market determined using linear complementarity model

International Nuclear Information System (INIS)

Tung, Ching-Pin; Tseng, Tze-Chi; Huang, An-Lei; Liu, Tzu-Ming; Hu, Ming-Che

2013-01-01

Highlights: ► Impact of climate change on average temperature is estimated. ► Temperature elasticity of demand is measured. ► Impact of climate change on Taiwanese power market determined. -- Abstract: The increase in the greenhouse gas concentration in the atmosphere causes significant changes in climate patterns. In turn, this climate change affects the environment, ecology, and human behavior. The emission of greenhouse gases from the power industry has been analyzed in many studies. However, the impact of climate change on the electricity market has received less attention. Hence, the purpose of this research is to determine the impact of climate change on the electricity market, and a case study involving the Taiwanese power market is conducted. First, the impact of climate change on temperature is estimated. Next, because electricity demand can be expressed as a function of temperature, the temperature elasticity of demand is measured. Then, a linear complementarity model is formulated to simulate the Taiwanese power market and climate change scenarios are discussed. Therefore, this paper establishes a simulation framework for calculating the impact of climate change on electricity demand change. In addition, the impact of climate change on the Taiwanese market is examined and presented.

Market Structure in the Context of Developing Competitive Strategy

OpenAIRE

Algirdas Krivka; Romualdas Ginevičius

2011-01-01

The abstract deals with the application of positioning strategies under the conditions of classical market structures. It is discovered that the assumptions of pure competition leave no space for M. Porter’s generic cost leadership and differentiation strategies to be applied. The enterprise’s actions, influencing five competitive forces and implementing generic strategies, are reasonable under the conditions of imperfect competition market structures. The game theory models, applied to oligo...

Competitive Structure of U.S. Grain Exporters in the World Market: A Dynamic Panel Approach

Directory of Open Access Journals (Sweden)

Hyun J. Jin

2008-06-01

Full Text Available The objective of this study is to analyze the competitive structure of U.S. wheat, corn, and soybeans exporters in the world market. A dynamic two¡ⓒway panel estimator is utilized in the analysis in place of typically used two¡ⓒway fixed effects panel estimator. A broader (in terms of the number of destination markets and more recent data sample is analyzed in this study in comparison to previous studies in order to reflect vast changes that occurred in world grain markets during the last twenty years. Results indicate the presence of pricing¡ⓒto¡ⓒmarkets behavior by U.S. grain exporters overall, and toward some importing countries in particular.

Climate change: impacts on electricity markets in Western Europe.

Science.gov (United States)

Golombek, Rolf; Kittelsen, Sverre A C; Haddeland, Ingjerd

This paper studies some impacts of climate change on electricity markets, focusing on three climate effects. First, demand for electricity is affected because of changes in the temperature. Second, changes in precipitation and temperature have impact on supply of hydro electric production through a shift in the inflow of water. Third, plant efficiency for thermal generation will decrease because the temperature of water used to cool equipment increases. To find the magnitude of these partial effects, as well as the overall effects, on Western European energy markets, we use the multi-market equilibrium model LIBEMOD. We find that each of the three partial effects changes the average electricity producer price by less than 2%, while the net effect is an increase of only 1%. The partial effects on total electricity supply are small, and the net effect is a decrease of 4%. The greatest effects are found for Nordic countries with a large market share for reservoir hydro. In these countries, annual production of electricity increases by 8%, reflecting more inflow of water, while net exports doubles. In addition, because of lower inflow in summer and higher in winter, the reservoir filling needed to transfer water from summer to winter is drastically reduced in the Nordic countries.

Profit Tax Evasion Under Oligopoly With Endogenous Market Structure

OpenAIRE

Goerke, Laszlo; Runkel, Marco

2006-01-01

This note investigates the impact of profit tax evasion on firms' output decisions in a Cournot oligopoly setting in which the market structure is determined endogenously. It is shown that tax evasion intensifies market entry and raises aggregate output, while production of each incumbent firm decreases. Therefore, tax evasion choices affect activity decisions and an evadable profit tax distorts the market outcome.

Applying social marketing in health care: communicating evidence to change consumer behavior.

Science.gov (United States)

Evans, W Douglas; McCormack, Lauren

2008-01-01

Social marketing uses commercial marketing strategies to change individual and organizational behavior and policies. It has been effective on a population level across a wide range of public health and health care domains. There is limited evidence of the effectiveness of social marketing in changing health care consumer behavior through its impact on patient-provider interaction or provider behavior. Social marketers need to identify translatable strategies (e.g., competition analysis, branding, and tailored messages) that can be applied to health care provider and consumer behavior. Three case studies from social marketing illustrate potential strategies to change provider and consumer behavior. Countermarketing is a rapidly growing social marketing strategy that has been effective in tobacco control and may be effective in countering pharmaceutical marketing using specific message strategies. Informed decision making is a useful strategy when there is medical uncertainty, such as in prostate cancer screening and treatment. Pharmaceutical industry marketing practices offer valuable lessons for developing competing messages to reach providers and consumers. Social marketing is an effective population-based behavior change strategy that can be applied in individual clinical settings and as a complement to reinforce messages communicated on a population level. There is a need for more research on message strategies that work in health care and population-level effectiveness studies.

CONSIDERATIONS ON MEASURING PERFORMANCE AND MARKET STRUCTURE

OpenAIRE

Spiridon Cosmin Alexandru

2011-01-01

According to neoclassical theory, the relationship between the price, respectively of marginal cost and market structures, the methods for determining the performance of a firm or of an industry, deviate from the model of perfect competition. Assessing performance involves performing comparisons, reporting that their reference level can be a standard value, or a statistical value which can be a national-regional average, a homogeneous group, or an average value at a market level. Modern theor...

Illinois Walls in alternative market structures

NARCIS (Netherlands)

Schinkel, M.P.; Tuinstra, J.

2005-01-01

This note extends on our paper Illinois Walls: How Barring Indirect Purchaser Suits Facilitates Collusion (Schinkel, Tuinstra and Rüggeberg, 2005, henceforth STR). It presents analyses of two alternative, more competitive, market structures to conclude that when the conditions for existence of

Organizational structures within the scope of strategic marketing planning: a discursive study

Directory of Open Access Journals (Sweden)

Luciano Augusto Toledo

2009-08-01

Full Text Available The present article proposes to analyze marketing planning within the context of innovative organizational structures. The work has been structured as an essay, and is comprised of a review of the theoretical reference, set against a conceptual critical analysis of a few aspects pertinent to the theme. Issues around the difference among the several strategic levels, such as the formulation of corporate strategies, competitive and structural. Additionally, marketing planning activities were situated in companies’ structural hierarchizing. Lastly, a reflection is conducted, raising issues adjacent to marketing planning, strategies, and innovative organizational structures.

The Gravity Law of Marketing - a Major Reason for Change to a Better Performance

Directory of Open Access Journals (Sweden)

Victor DANCIU

2010-04-01

Full Text Available Companies develop marketing strategies only for success. But, sooner or later, even the most successful strategies begin to wear out and lose their impact on the performances of the company. The mutual attraction between the marketing strategy and the performance of the company is known as the law of marketing gravity. Once a marketing strategy loses impact on the marketing performance as a result of the law of marketing gravity a fundamental change is needed. This change must be made according to a new marketing thinking during a cyclic process for development of the new marketing strategy. This paper is aiming to point out that companies must recognize the limited viability of their marketing strategies, identify the causes of the strategic wear out and implications of the law of the marketing gravity. All these should be a solid ground for marketing strategic change which must be included in the general plans of change of the company and implemented with the particular tools of the strategic management of change.

Climate Changes and Their Impact on Agricultural Market Systems: Examples from Nepal

Directory of Open Access Journals (Sweden)

Andrea Karin Barrueto

2017-11-01

Full Text Available Global climate models foresee changes in temperature and precipitation regimes that shift regional climate zones and influence the viability of agricultural market systems. Understanding the influence of climate change on the different sub-sectors and functions of a market system is crucial to increasing the systems’ climate resilience and to ensuring the long-term viability of the sectors. Our research applies a new approach to climate change analysis to better understand the influence of climate change on each step of an agricultural market system—on its core (processing units, storage facilities and sales and support functions (sapling supply, research, insurance and agricultural policy. We use spatial climate analyses to investigate current and projected changes in climate for different regions in Nepal. We then analyse the risks and vulnerabilities of the sub-sectors banana, charcoal, coffee, macadamia, orange, vegetables and walnut. Our results show that temperatures and precipitation levels will change differently depending on the climatic regions, and that climate change elicits different responses from the market functions both between and within each of the different sub-sectors. We conclude that climate-related interventions in market systems must account for each different market function’s specific response and exposure to climate change, in order to select adaptation measures that ensure long-term climate resilience.

Identifying the structure of group correlation in the Korean financial market

Science.gov (United States)

Ahn, Sanghyun; Choi, Jaewon; Lim, Gyuchang; Cha, Kil Young; Kim, Sooyong; Kim, Kyungsik

2011-06-01

We investigate the structure of the cross-correlation in the Korean stock market. We analyze daily cross-correlations between price fluctuations of 586 different Korean stock entities for the 6-year time period from 2003 to 2008. The main purpose is to investigate the structure of group correlation and its stability by undressing the market-wide effect using the Markowitz multi-factor model and the network-based approach. We find the explicit list of significant firms in the few largest eigenvectors from the undressed correlation matrix. We also observe that each contributor is involved in the same business sectors. The structure of group correlation can not remain constant during each 1-year time period with different starting points, whereas only two largest eigenvectors are stable for 6 years 8-9 eigenvectors remain stable for half-year. The structure of group correlation in the Korean financial market is disturbed during a sufficiently short time period even though the group correlation exists as an ensemble for the 6-year time period in the evolution of the system. We verify the structure of group correlation by applying a network-based approach. In addition, we examine relations between market capitalization and businesses. The Korean stock market shows a different behavior compared to mature markets, implying that the KOSPI is a target for short-positioned investors.

The New England travel market: changes in generational travel patterns

Science.gov (United States)

Rodney B. Warnick

1995-01-01

The purpose of this study was to examine and explore the New England domestic travel market trends, from 1979 through 1991 within the context of generations. The existing travel markets, who travel to New England, are changing by age cohorts and specifically within different generations. The New England changes in generational travel patterns do not reflect national...

Strategic Marketing Developments in Informational Society

OpenAIRE

Eleonora Mihaela Constantinescu

2014-01-01

The market relation is structurally reshaped in the context of informational society, which causes conceptual, management and technological mutations in marketing. A new marketing paradigm is shaped which causes management transformations through the transition to strategic marketing and changes in the specific communication mechanisms of e-marketing and cyber-marketing.

A Good Beginning Makes a Good Market: The Effect of Different Market Opening Structures on Market Quality

Science.gov (United States)

Hinterleitner, Gernot; Leopold-Wildburger, Ulrike

2015-01-01

This paper deals with the market structure at the opening of the trading day and its influence on subsequent trading. We compare a single continuous double auction and two complement markets with different call auction designs as opening mechanisms in a unified experimental framework. The call auctions differ with respect to their levels of transparency. We find that a call auction not only improves market efficiency and liquidity at the beginning of the trading day when compared to the stand-alone continuous double auction, but also causes positive spillover effects on subsequent trading. Concerning the design of the opening call auction, we find no significant differences between the transparent and nontransparent specification with respect to opening prices and liquidity. In the course of subsequent continuous trading, however, market quality is slightly higher after a nontransparent call auction. PMID:26351653

Market Structure in the Context of Developing Competitive Strategy

Directory of Open Access Journals (Sweden)

Algirdas Krivka

2011-04-01

Full Text Available The abstract deals with the application of positioning strategies under the conditions of classical market structures. It is discovered that the assumptions of pure competition leave no space for M. Porter’s generic cost leadership and differentiation strategies to be applied. The enterprise’s actions, influencing five competitive forces and implementing generic strategies, are reasonable under the conditions of imperfect competition market structures. The game theory models, applied to oligopoly, indicate the close interaction of enterprises and interdependence of their strategic decisions: cost reduction and differentiation strategies not only increase the profit of the enterprise, implementing the strategy, but by affecting market price and residual demand decrease the competitor’s profit.Article in Lithuanian

Market power and price structure in the electricity market; Markedsmakt og prisstruktur i kraftmarkedet

Energy Technology Data Exchange (ETDEWEB)

Halseth, Arve

1998-12-01

This report evaluates the importance of market power on price formation and price structure in the Norwegian electricity market. A simple oligopoly model is used to show how the equilibrium is affected by demand, distribution of capacity between two major suppliers, and marginal production costs, given that the suppliers do not cooperate. Two important conclusions can be drawn from the calculations: (1) a high concentration on the supply side does not necessarily lead to essential market power, and (2) market power may contribute to increased stability and predictability. The main conclusion is that market power can be positive for society and it is not uniquely associated with a high concentration on the supply side. If emphasis is placed on stability and predictability, market power should not be defined as deviation from prices under free competition but rather should be related to the requirement that the suppliers should not obtain unreasonably high profit with unreasonably little utilization of capacity. 10 refs., 11 figs.

RELATIONSHIP DERIVATIVES FINANCIAL MARKETS, MONEY AND STOCK MARKETS AS A SUBSYSTEM OF FINANCIAL MARKET

Directory of Open Access Journals (Sweden)

Yulia Yelnikova

2016-11-01

Full Text Available Under conditions of intensive strengthening of globalization of world financial markets and deepening of the crisis, the main source of which are financial markets, financial derivatives market is rapidly developing. In such circumstances, we observe very active growing demand for tools, the main purpose of which is to reduce the financial risk – derivatives. Outlined trend has also involved Ukraine. In this connection, there is an objective need to develop estimate the interconnection of the money and stock markets and derivatives market. It should be kept in mind that achieving the outlined goal is possible only under condition of the full understanding of the scientific and methodological principles of the development of these markets. Purpose is to estimate the interconnection of the money and stock markets and derivatives market by building a mathematical model of system of structural equations that will promote the compilation of scientifically based program of derivatives market. Methodology. By using methods of economic-mathematical modelling were estimated the degree of influence of studied markets factors on financial derivatives market development and by changing this or that factor were predicted future trends of its operations. Results of the survey showed the current state and problems of derivatives market functioning. At the same time, our study allowed us to talk, that factors of the money and stock markets have a different impact on the derivatives market. So, the majority of money market factors have a reverse influence on the development of derivatives market. Instead, the stock market has a direct influence. Practical implications. The proposed scientific and methodical approach to evaluating the impact of factors on the derivatives market allows: influenced by different factors; to conduct a qualitative interpretation of the quantitative changes in the level of market development; to form a complete system of state

Future Electricity Markets

DEFF Research Database (Denmark)

Pinson, Pierre

2015-01-01

The changing face of energy production in Europe necessitates a rethink in the way that electricity markets are structured. The ‘5s’ (Future Electricity Markets) project is a multi-disciplinary project that is looking to challenge the current approach to the design and operation of electricity...

Can market structure explain cross-country differences in health?

Directory of Open Access Journals (Sweden)

Kate Rybczynski

2013-03-01

Full Text Available There is a well documented health disparity between several European countries and the United States. This health gap remains even after controlling for socioeconomic status and risk factors. At the same time, we note that the U.S. market structure is characterized by significantly more large corporations and "super-sized" retail outlets than Europe. Because big business is hierarchical in nature and has been reported to engender urban sprawl, inferior work environments, and loss of social capital, all identified as correlates of poor health, we suggest that differences in market structure may help account for some of the unexplained differences in health across Europe and North America. Using national level data, this study explores the relationship between market structure and health. We investigate whether individuals who live in countries with proportionately more small business are healthier than those who do not. We use two measures of national health: life expectancy at birth, and age-standardized estimates of diabetes rates. Results from ordinary least squares regressions suggest that, there is a large and statistically significant association between market structure (the ratio of small to total businesses and health, even after controlling income, public percent of health expenditure, and obesity rates. This association is robust to additional controls such as insufficient physical activity, smoking, alcohol disease, and air pollution.

Social marketing: an approach to planned social change.

Science.gov (United States)

Kotler, P; Zaltman, G

1971-07-01

This article examines the applicability of marketing concepts to social causes and social change. Social marketing is defined as the design, implementation, and control of programs calculated to influence the acceptability of social ideas and involving considerations of product planning, pricing, communication, distribution and marketing research. Wiebe examined four social advertising campaigns and concluded that their effectiveness depended on the presence of adequate force, direction, adequate and compatible social mechanism, and distance (the "cost" of the new attitude as seen by message's message"s recepient). A marketing planning approach is not a guarantee for the achievement of social objectives; yet, it represents a bridging mechanism linking the knowledge of the behavioral scientist with the socially useful implementation of that knowledge.

Change of Subsidiary Mandates in Emerging Markets

DEFF Research Database (Denmark)

Hansen, Michael W.; Petersen, Bent; Wad, Peter

2011-01-01

fails to conceptualize how the specificities of emerging market business environments affect subsidiary mandate evolution. The paper develops a theoretical model for business environment change influence on subsidiary mandates, and demonstrates how the model can capture much of recent years dramatic......In recent years, the activities of Danish MNCs in India have expanded dramatically. Previously dormant subsidiaries have been transformed into integral components in the global strategies of Danish MNCs, either as crucial cash cows catering to the rapidly growing Indian markets, or as platforms...

AN ANALYSIS OF MANUFACTURING MARKET STRUCTURE IN NORTH SUMATRA PROVINCE

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Muhammad Asaad

2013-04-01

Full Text Available This study aims to analyze market structure and manufacturing industry performance on the economy of North Sumatra. The analysis uses two approaches, namely SCP analysis and econometric model. The data used is the Survey of Large Medium 2005-2009. The result shows that the structure of the industry is more dominant, including tight oligopoly, only small parts which belong to loose oligopoly and oligopoly markets. Some industries which have important roles for the economy are the palm oil industry, food and beverage industry, rubber industry and rubber products, and iron and steel basic industries, and basic non-ferrous metals.Keywords: market structure, industry performance, manufacturing industry, local economyJEL classification numbers: L10, L20, L60

Electricity markets evolution with the changing generation mix: An empirical analysis based on China 2050 High Renewable Energy Penetration Roadmap

International Nuclear Information System (INIS)

Zou, Peng; Chen, Qixin; Yu, Yang; Xia, Qing; Kang, Chongqing

2017-01-01

Highlights: • How electricity markets are evolving with the changing generation mix is studied. • China 2050 High Renewable Energy Penetration Roadmap are empirically analysed. • A multi-period Nash-Cournot model is established to study the market equilibrium. • Energy storages are analysed and compared to reveal their impacts on the equilibrium. - Abstract: The power generation mix are significantly changing due to the growth of stricter energy policies. The renewables are increasingly penetrating the power systems and leading to more clean energy and lower energy prices. However, they also require much more flexibilities and ancillary services to handle their uncertainties and variabilities. Thus, the requirements for regulation and reserve services may dramatically increase while the supplies of these services, which are mainly from the traditional thermal plants, remain almost invariant. This changing situation will cause higher regulation and reserve prices and impact the profit models and revenue structures of the traditional plants. How electricity markets are actually evolving with the changing generation mix? Can enough backup power plants be given adequate economic incentives and thus remained with the increasing renewables and the decreasing energy prices and productions? Can de-carbonization be fully performed in power systems? To explicitly answer the question, this paper uses a multi-period Nash-Cournot equilibrium model to formulate the evolution of power markets incorporating different types of generators, including thermal units, hydro units, wind farms, solar stations and energy storage systems. The price changes in the co-optimized energy, regulation and reserve markets, and the profit changes of various generators are studied. And the variabilities and uncertainties of renewable generation sources are considered in dynamically determining the requirements of regulation and reserve services. Based on the China 2050 High Renewable Energy

Market structure and performance of value chain actors in hides and ...

African Journals Online (AJOL)

Market structure and performance of value chain actors in hides and skins processing and marketing in Nigeria. ... There was high performance in hides and skins processing and marketing in Nigeria. ... EMAIL FULL TEXT EMAIL FULL TEXT

Organisational Change, Health and the Labour Market

DEFF Research Database (Denmark)

Bhatti, Yosef; Gørtz, Mette; Holm Pedersen, Lene

This research examines the effects of organisational change on employee health and labour market outcomes. Previous studies looking into organisational change in the private sector indicate that the larger the size and depth of organisational change, the larger the detrimental consequences...... to the employees. This study contributes to the literature on four main dimensions. First, we extend the analysis of organisational change to a public sector setting. Second, while previous findings remain inconclusive regarding causal effects due to problems of endogeneity, our analysis contributes to research...

The Structure of Marine Fish marketing in Kenya: The Case of ...

African Journals Online (AJOL)

The Structure of Marine Fish marketing in Kenya: The Case of Malindi and Kilifi Districts. ... marketing as well as identifies constraints in the marketing system in Malindi and Kilifi districts. ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

[Changes in labor market participation of older employees in Germany: the perspective of labor market research].

Science.gov (United States)

Brussig, M

2009-08-01

For many years, Germany has been regarded in international comparisons as an example of a generous early retirement culture, resulting in a low labor market participation of older employees. Recently, however, employment rates of older employees have increased remarkably. Reasons are the demographic structure of older persons in Germany, a long-term trend of increasing female labor market participation, and reforms in labor-market policies and pension policies during the last 10 years. Despite an increasing labor market participation of older employees, traditional labor market risks for older persons partly remained, but some new risks evolved as well. Therefore, social differentiation among older employees increased.Although detailed macro descriptions exist, the causes of labor market developments cannot be fully understood with cross-sectional data alone. An important stimulus is to be expected from individual longitudinal data which reflect employment histories and labor market transitions such as employment exit and retirement.

How does labour market structure affect the response of economies to shocks?

OpenAIRE

Aurelijus Dabusinskas; István Kónya; Stephen Millard

2015-01-01

The recent crisis in the Eurozone has led to much discussion about the structure of labour markets in different Eurozone economies. In particular, there has been much talk of the need for structural labour market reform in the Eurozone periphery. But, there are many aspects of labour market structure – eg, wage flexibility, flexibility in hiring and firing, benefits, etc – and it is not clear a priori which aspects really matter. In this paper, we analyse how cross-country differences in labo...

Target-oriented marketing. Marketing in public gas utilities

Energy Technology Data Exchange (ETDEWEB)

Hebestreit, B [Stadtwerke Nienburg (Germany, F.R.); Symank, R [Gewerkschaften Brigitta und Elwerath Betriebsfuehrungsgesellschaft m.b.H., Hannover (Germany, F.R.)

1979-01-01

As natural gas supply and its planning are long-term matters, it is necessary to show already today the effects of the development and of the change in the structures of the energy market and to prepare necessary measures. A market research model is introduced which gives supply companies the possibility to plan sales, investments and organization in detail and to realise these by sales promotional measures.

Retail Market Structure Development in Central Europe

Directory of Open Access Journals (Sweden)

Martin Machek

2012-12-01

Full Text Available This article is analyzing the trends and development in the retailing sector in Central Europe, namely in the Czech Republic, Hungary, Poland and Slovakia. These markets serve about 63 million inhabitants. The retail industry in Central Europe has changed dramatically in the last two decades, and has become a model for successful transformation of emerging markets. The retail market is highly concentrated and dominated by Western European retail chains. International retail chains are using all formats of modern distribution. This article is focusing on the development of hypermarkets, supermarkets and discount stores. Due to the international retail chains, Central European countries benefit from a dense network of modern shopping places; the intense competition of highly productive retailers contributes to the lower level of inflation rate because of the so-called Wal-Mart Effect. The constant pressure on prices influences the marketing strategies of both retailers and suppliers.

Managing the endogeneity problem of the market structure: a study on banking competition

Directory of Open Access Journals (Sweden)

Tri Mulyaningsih

2015-10-01

Full Text Available Recent literature suggests that the market structure is an endogenous variable that is determined by a firm’s behaviour and the competitive environment of the industry. This study examines the relation between the market structure and the banks’ behaviour in Indonesian banking by considering the endogeneity problem of them as variables. The estimations using the Vector-Error-Correction approach suggest that the structural approach provides a valid prediction of the relationship between market structure and bank behaviour by recognizing the endogeneity issue between those two variables. The banking industry would be more competitive if the market was less concentrated.

Development trends of the international derivatives market

OpenAIRE

Motorniuk, U.; Terebukh, M.; Kharchuk, V.

2016-01-01

The factors forming international derivatives market trends are researched in this article. The history of the formation of the global derivatives market was analyzed, in particular, events which have led to the growth of the derivatives market. Global derivatives market has revealed major changes in its trends and witnessed the gradual transformation of its structure, observed in recent years. Global derivatives market has revealed major changes in its trends and witnessed the gradual transf...

Structural changes in dairy business in Croatia

Directory of Open Access Journals (Sweden)

Teo Vujčić

2005-01-01

Full Text Available Croatia today is in the economy transition process that also includes agriculture aiming to increase production and achieving competitive standard with international and European markets. Currently, domestic cow milk production ensures 80% of annual milk and dairy products requirements with the 20% import. In the period from 1990-1992, during the patriot war, 103000 cows and heifers were destroyed. Since then, Croatia started the gradual process of reorganization of the agricultural private sector including dairy business in order to increase production insensitivity.The agricultural structure of dairy segment is unsatisfactory with only 23.39% of farms holding four or more heifers. Households with 3 cows per farm dominate with average real estate of 0.10-3.0 acres.Changes in milk production (1990-2003 are reflected in the decrease of the number of breeding cattle – index 56.13%, and decrease of milk market producers from 65 000 to 65 151. Never the less, positive trends towards stabilization in milk production (2003 – 642 mil litres and annual milk intake increased from 342 mil litres in 1990 to 472 mil litres in 2003 (index 138.08% can be noticed. Changes in the structure of milk producers show certain positive movements as 23.39% of producers have 53.40% cows and respectively participation in milk production and buy off. Until 2008, with determined development conditions, cow milk production can increase for 42% and from 2703 litres to average of 4000 litres per dairy cow.

Endoscopy Practice Management, Fee Structures, and Marketing.

Science.gov (United States)

Divers, Stephen J

2015-09-01

Although our knowledge and appreciation of endoscopic procedures in exotic pets is extensive, associated management practices, including equipment preferences and fee structures, have rarely been discussed. This short article highlights the results of a small survey of 35 experienced exotic animal endoscopists and details their equipment ownership/preferences and fee structures. The importance of marketing is also emphasized. Copyright © 2015 Elsevier Inc. All rights reserved.

Impact of HMO market structure on physician-hospital strategic alliances.

Science.gov (United States)

Burns, L R; Bazzoli, G J; Dynan, L; Wholey, D R

2000-04-01

To assess the impact of HMO market structure on the formation of physician-hospital strategic alliances from 1993 through 1995. The two trends, managed care and physician-hospital integration have been prominent in reshaping insurance and provider markets over the past decade. Pooled cross-sectional data from the InterStudy HMO Census and the Annual Survey conducted by the American Hospital Association (AHA) between 1993 and the end of 1995 to examine the effects of HMO penetration and HMO numbers in a market on the formation of hospital-sponsored alliances with physicians. Because prior research has found nonlinear effects of HMOs on a variety of dependent variables, we operationalized HMO market structure two ways: using a Taylor series expansion and cross-classifying quartile distributions of HMO penetration and numbers into 16 dummy indicators. Alliance formation was operationalized using the presence of any alliance model (IPA, PHO, MSO, and foundation) and the sum of the four models present in the hospital. Because managed care and physician-hospital integration are endogenous (e.g., some hospitals also sponsor HMOs), we used an instrumental variables approach to model the determinants of HMO penetration and HMO numbers. These instruments were then used with other predictors of alliance formation: physician supply characteristics, the extent of hospital competition, hospital-level descriptors, population size and demographic characteristics, and indicators for each year. All equations were estimated at the MSA level using mixed linear models and first-difference models. Contrary to conventional wisdom, alliance formation is shaped by the number of HMOs in the market rather than by HMO penetration. This confirms a growing perception that hospital-sponsored alliances with physicians are contracting vehicles for managed care: the greater the number of HMOs to contract with, the greater the development of alliances. The models also show that alliance formation is

Data Service:Characteristics,Market Structure,and the Role of Operator

Institute of Scientific and Technical Information of China (English)

LI Ruo-peng; LU Ting-jie

2005-01-01

To study characteristics and market structure of data service and the role of operator,this paper makes a commercial model by applying the theory of intermediaries and neoclassic economics.Data service has different economic characteristics from voice service.Firstly,production mode of data service is roundabout production,secondly,driving power of data service is economies of specialization,and finally,management method of data service is impersonal management.In data service market,information asymmetry and barrier to entry determine transaction efficiency and the specialization level of service providers indirectly.Therefore,operator should intervene in the market by offering trade service in order to promote development of service providers.Because of different quality of service providers,market structure of data service must be the state that trade platform built by operator and intermediary platform built by operator coexists.

Impact of Stock Market Structure on Intertrade Time and Price Dynamics

Science.gov (United States)

Ivanov, Plamen Ch.; Yuen, Ainslie; Perakakis, Pandelis

2014-01-01

We analyse times between consecutive transactions for a diverse group of stocks registered on the NYSE and NASDAQ markets, and we relate the dynamical properties of the intertrade times with those of the corresponding price fluctuations. We report that market structure strongly impacts the scale-invariant temporal organisation in the transaction timing of stocks, which we have observed to have long-range power-law correlations. Specifically, we find that, compared to NYSE stocks, stocks registered on the NASDAQ exhibit significantly stronger correlations in their transaction timing on scales within a trading day. Further, we find that companies that transfer from the NASDAQ to the NYSE show a reduction in the correlation strength of transaction timing on scales within a trading day, indicating influences of market structure. We also report a persistent decrease in correlation strength of intertrade times with increasing average intertrade time and with corresponding decrease in companies' market capitalization–a trend which is less pronounced for NASDAQ stocks. Surprisingly, we observe that stronger power-law correlations in intertrade times are coupled with stronger power-law correlations in absolute price returns and higher price volatility, suggesting a strong link between the dynamical properties of intertrade times and the corresponding price fluctuations over a broad range of time scales. Comparing the NYSE and NASDAQ markets, we demonstrate that the stronger correlations we find in intertrade times for NASDAQ stocks are associated with stronger correlations in absolute price returns and with higher volatility, suggesting that market structure may affect price behavior through information contained in transaction timing. These findings do not support the hypothesis of universal scaling behavior in stock dynamics that is independent of company characteristics and stock market structure. Further, our results have implications for utilising transaction timing

Impact of stock market structure on intertrade time and price dynamics.

Science.gov (United States)

Ivanov, Plamen Ch; Yuen, Ainslie; Perakakis, Pandelis

2014-01-01

We analyse times between consecutive transactions for a diverse group of stocks registered on the NYSE and NASDAQ markets, and we relate the dynamical properties of the intertrade times with those of the corresponding price fluctuations. We report that market structure strongly impacts the scale-invariant temporal organisation in the transaction timing of stocks, which we have observed to have long-range power-law correlations. Specifically, we find that, compared to NYSE stocks, stocks registered on the NASDAQ exhibit significantly stronger correlations in their transaction timing on scales within a trading day. Further, we find that companies that transfer from the NASDAQ to the NYSE show a reduction in the correlation strength of transaction timing on scales within a trading day, indicating influences of market structure. We also report a persistent decrease in correlation strength of intertrade times with increasing average intertrade time and with corresponding decrease in companies' market capitalization-a trend which is less pronounced for NASDAQ stocks. Surprisingly, we observe that stronger power-law correlations in intertrade times are coupled with stronger power-law correlations in absolute price returns and higher price volatility, suggesting a strong link between the dynamical properties of intertrade times and the corresponding price fluctuations over a broad range of time scales. Comparing the NYSE and NASDAQ markets, we demonstrate that the stronger correlations we find in intertrade times for NASDAQ stocks are associated with stronger correlations in absolute price returns and with higher volatility, suggesting that market structure may affect price behavior through information contained in transaction timing. These findings do not support the hypothesis of universal scaling behavior in stock dynamics that is independent of company characteristics and stock market structure. Further, our results have implications for utilising transaction timing

Are South East Asia Countries Capital Markets Characterized by Nonlinear Structures? An Investigation from Indonesia, Philippine and Singapore Capital Market Indices

Directory of Open Access Journals (Sweden)

Minarnita Yanti Verawati Bakara

2014-11-01

Full Text Available This research paper tries to detect the nonlinear structure in the South East Asia Countries Capital Markets. The capital markets of three South East Asia Countries are chosen: Indonesia, Philippine, and Singapore. Daily return data of Capital Markets composite indices are observed: Straits Times Index (STI of Singapore Exchange from January 04, 1985 to December 31, 2007, Pilipino Stock Exchange Index (PSEi of Philippines Stock Exchange from March 1, 1990 to December 31, 2007 and Jakarta Composite Index (JCI of Indonesia Stock Exchange from January 05, 1988 to December 31, 2007.Should nonlinearity be found, the outcomes of each observation are compared to analyze the implications of each country in global, regional and local position of their competition in the continuously changing world of interdependency environment. The implications of nonlinearity finding in the three ASEAN countries capital markets to the current issues of AFAS on Financial Services, Harmonization among ASEAN countries capital markets in the ASEAN region and ASEAN integration and liberalization on Financial Services are analyzed.BDS statistic and R/S Analysis as our tools for nonlinearity testing are applied. Nonlinearity evidences in Jakarta Composite Index, Pilipino Stock Exchange Index and Straits Times Index are found.

The Gravity Law of Marketing - a Major Reason for Change to a Better Performance

OpenAIRE

Victor DANCIU

2010-01-01

Companies develop marketing strategies only for success. But, sooner or later, even the most successful strategies begin to wear out and lose their impact on the performances of the company. The mutual attraction between the marketing strategy and the performance of the company is known as the law of marketing gravity. Once a marketing strategy loses impact on the marketing performance as a result of the law of marketing gravity a fundamental change is needed. This change mu...

The impact of power market structure on CO2 cost pass-through to electricity prices under quantity competition. A theoretical approach

International Nuclear Information System (INIS)

Sijm, J.; Chen, Y.; Hobbs, B.F.

2012-01-01

We present a theoretical analysis of the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading (ET) costs on electricity prices. Market structure refers in particular to the number of firms active in the market and the intensity of oligopolistic competition as measured by the conjectural variation, as well as to the functional form of the power demand and supply curves. In addition, we analyse briefly the impact of other power market-related factors on the PTR of carbon costs to electricity prices. These include in particular the impact of ET-induced changes in the merit order of power generation technologies and the impact of pursuing other market strategies besides maximising generator profit, such as maximising market shares or sales revenues of power companies. Each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

The Energy Market 2004

Energy Technology Data Exchange (ETDEWEB)

NONE

2004-08-01

This publication describes the markets for network based energy in a Nordic perspective, with an extension to the EU. The ongoing harmonization of the energy market policy is described in more detail in the sections dealing with energy policy and regulations. The network based energy markets differ in size, ownership structure and competition. The electricity and district heating markets in Sweden were deregulated in 1996. However, the natural gas market is being deregulated in stages, and will be completely open to competition by 2007 at the latest. The rules for promoting competition in trading and production on the network based energy markets have therefore been continually changed. The chapters dealing with the markets describe the effects of deregulation and how the market structures have changed. If a market is to perform well, the consumers must be active. A study performed by 'Elkonkurrensutredningen' (Electricity competition committee) shows that switching to a different supplier involves costs that restrict consumer mobility, and that the consumers are not sufficiently well informed. This publication also describes the development of prices and how the trading prices have developed on the competitive market. The markets for network based energy are in the course of continual development. This report gives a coherents view of the way the markets work and their development from a national monopoly to an open, competitive market. On such a deregulated market, consumers enjoy increased diversity and freedom of choice. This, in turn, has created the conditions for better utilization of resources at the production stage.

The Energy Market 2004

International Nuclear Information System (INIS)

2004-01-01

This publication describes the markets for network based energy in a Nordic perspective, with an extension to the EU. The ongoing harmonization of the energy market policy is described in more detail in the sections dealing with energy policy and regulations. The network based energy markets differ in size, ownership structure and competition. The electricity and district heating markets in Sweden were deregulated in 1996. However, the natural gas market is being deregulated in stages, and will be completely open to competition by 2007 at the latest. The rules for promoting competition in trading and production on the network based energy markets have therefore been continually changed. The chapters dealing with the markets describe the effects of deregulation and how the market structures have changed. If a market is to perform well, the consumers must be active. A study performed by 'Elkonkurrensutredningen' (Electricity competition committee) shows that switching to a different supplier involves costs that restrict consumer mobility, and that the consumers are not sufficiently well informed. This publication also describes the development of prices and how the trading prices have developed on the competitive market. The markets for network based energy are in the course of continual development. This report gives a coherents view of the way the markets work and their development from a national monopoly to an open, competitive market. On such a deregulated market, consumers enjoy increased diversity and freedom of choice. This, in turn, has created the conditions for better utilization of resources at the production stage.

Has microblogging changed stock market behavior? Evidence from China

Science.gov (United States)

Jin, Xi; Shen, Dehua; Zhang, Wei

2016-06-01

This paper examines the stock market behavior for a long-lived subset of firms in Shanghai and Shenzhen CSI 300 Index (CSI 300 Index) both before and after the establishment of firms' Microblogging in Sina Weibo. The empirical results show a significant increase in the relative trading volume as well as the decreases in the daily expected stock return and firm-level volatility in the post-Sina Weibo period. These findings suggest that Sina Weibo as an alternative information interaction channel has changed the information environment for individual stock, enhanced the speed of information diffusion and therefore changed the overall stock market behavior.

Structure of the US gas market, regulation and pricing of the third party access to the network

International Nuclear Information System (INIS)

David, L.; Mirabel, F.

2000-06-01

The opening of the US natural gas market to competition is followed by deep changes in the implemented regulations for an efficient organization and operation of the gas industry. The transformations of the industrial structures and the strategic behavior of the actors characterize the mutations of the gas markets in the USA. The aim of this paper is to transcribe in a synthetic form the characteristics of the gas market in North America and to model the structure of the industry in this sector opened to competition in its back-end. Two main questions are analyzed: the role and position of the former monopoly (utility) in this back-end market (should the local distribution companies continue to sell gas to end users?), and what kind of regulation should be implemented by the authorities in order to avoid the former monopoly to use its market power and make excessive profits. The analysis is made in two steps: the first part explains the hypotheses of the analysis using the characteristics of the North American market. It presents the general framework of the model and explains the two 'regulatory scenarios' retained in the study. The main steps of the resolution of the model are detailed in the second part. (J.S.)

Investigating Food and Beverage Industry Market Structure and Market Power Based on Leo and Bresnahan’s Approach

Directory of Open Access Journals (Sweden)

M. Nabishahikitash

2016-03-01

, Safdarhoseiniet all (2, Mazhari&Yazdani. Yet,foreign studies conducted in this area are varied in different sectors. For example, the studies Angelini&cetorell (15 andRezitis (24 in the banking system can be mentioned.Of the other foreign studies Leo (21, Bresnahan (12, Abayasiri (8, Boyle & Hall (14, Saitone& etal. (25, Koontz (20, Duravall (17, Steen (29, Salhofer and etAl. (28, Allender (10, Siton and et al. (25, Rigoberto et all (22, Lopez & etal. (22, Oustapassidis& etal. (23 can be cited. The model in this paper to estimate market power used for the food and beverage industries has been developed by Bresnahan& Leo. In this model,by considering demand and supply market powercan be investigated. In the next step, marginal cost (cost function is Translog cost and marginal revenue will be obtained. In the final step,by estimatingthe final equation market power can be calculated. The type of industrial classification used in this study is the International Standard Industrial Classification (ISIC. This kind of classification is widely used for empirical studies because of lack of industrial data on the basis of other classifications. We use firm level data aggregated to the4- digit ISIC code of industries. The purpose of this study is to estimate the market structure and market power of the food and drink industry in Iran.For estimating market power, conjectural variation is used. Results and DiscussionIn oligopoly theory, conjectural variation is the belief that one firm has about the way its competitors may react if it varies its output or price. The firm forms a conjecture about the variation in the other firm's output that will accompany any change in its own output. For example, in the classic Cournot model of oligopoly, it is assumed that each firm treats the output of the other firms as given when it chooses its output. This is sometimes called the "Nash conjecture" as it underlies the standard Nash equilibrium concept. However, alternative assumptions can be made

An Analysis Of Manufacturing Market Structure In North Sumatra Province

OpenAIRE

Rasidin Karo-Karo Sitepu; Muhammad Asaad

2011-01-01

This study aims to analyze market structure and manufacturing industry performance on the economy of North Sumatra. The analysis uses two approaches, namely SCP analysis and econometric model. The data used is the Survey of Large Medium 2005-2009. The result shows that the structure of the industry is more dominant, including tight oligopoly, only small parts which belong to loose oligopoly and oligopoly markets. Some industries which have important roles for the economy are the palm oil indu...

A focus on the consumer: social marketing for change.

Science.gov (United States)

Lucaire, L E

1985-01-01

Social marketing is the application of commercial marketing principles to advance a social cause, issue, behavior, product, or service. Social marketing has added a framework to social efforts that heretofore lacked organization and has inspired projects that otherwise might never have been initiated. In the US, social marketing techniques have been particularly successful in the health field. Although advertising and other communications are central to social marketing, the discipline also depends upon other elements of what is termed the marketing mix: product, price, place, and promotion. Social marketing is a cyclical process involving 6 steps: analysis; planning; development, testing, and refining elements of the plan; implementation; assessment of in-market effectiveness; and feedback. In developing countries, health has similarly been the greatest beneficiary to date of applied social marketing techniques. Family planning programs and oral rehydration therapy (ORT) projects have used social marketing techniques effectively in numerous developing countries. Social marketing has been even more widely applied in the sale of contraceptives in developing countries. Contraceptive social marketing (CSM) programs are well established in Bangladesh, Sri Lanka, India, Thailand, Nepal, Colombia, El Salvador, Jamaica, Mexico, and Egypt. More recently programs have been established in Honduras, Guatemala, Barbados, St. Vincent, and St. Lucia. SOMARC (Social Marketing for Change) is a project funded by the US Agency for International Development (AID) and is working with existing CSM programs and helping to launch new CSM programs. CSM programs are successfully functioning as legitimate marketing organizations in developing countries and are using local private sector resources in the process. Program results are encouraging. Social marketing requires both experience and sensitivity to local conditions. Many developing countries now have their own marketing resources

Market Structure and Innovation Policies in Denmark

DEFF Research Database (Denmark)

Kammer, Aske

2017-01-01

The Danish media system is a hybrid one where strong public service broadcasters and private print and broadcast media co-exist. This chapter, first, analyzes the market structure, measuring the degree of market concentration in newspapers, television, and radio and mapping state intervention....... The analysis shows that all these media markets are highly concentrated: the four dominant television and radio broadcasters account for 80–90 % of total viewing/listening, the four dominant newspaper publishers for around 75 % of total circulation. The extent of state intervention also is high in Denmark...... for digital publishers and an earmarked pool to stimulate media innovation. However, the fact that not the entire innovation pool has actually been allotted to media innovation questions how appropriate the criteria for eligibility are. Third, the chapter makes recommendations for future revision of the media...

Identifying States of a Financial Market

Science.gov (United States)

Münnix, Michael C.; Shimada, Takashi; Schäfer, Rudi; Leyvraz, Francois; Seligman, Thomas H.; Guhr, Thomas; Stanley, H. Eugene

2012-09-01

The understanding of complex systems has become a central issue because such systems exist in a wide range of scientific disciplines. We here focus on financial markets as an example of a complex system. In particular we analyze financial data from the S&P 500 stocks in the 19-year period 1992-2010. We propose a definition of state for a financial market and use it to identify points of drastic change in the correlation structure. These points are mapped to occurrences of financial crises. We find that a wide variety of characteristic correlation structure patterns exist in the observation time window, and that these characteristic correlation structure patterns can be classified into several typical ``market states''. Using this classification we recognize transitions between different market states. A similarity measure we develop thus affords means of understanding changes in states and of recognizing developments not previously seen.

Identifying states of a financial market.

Science.gov (United States)

Münnix, Michael C; Shimada, Takashi; Schäfer, Rudi; Leyvraz, Francois; Seligman, Thomas H; Guhr, Thomas; Stanley, H Eugene

2012-01-01

The understanding of complex systems has become a central issue because such systems exist in a wide range of scientific disciplines. We here focus on financial markets as an example of a complex system. In particular we analyze financial data from the S&P 500 stocks in the 19-year period 1992-2010. We propose a definition of state for a financial market and use it to identify points of drastic change in the correlation structure. These points are mapped to occurrences of financial crises. We find that a wide variety of characteristic correlation structure patterns exist in the observation time window, and that these characteristic correlation structure patterns can be classified into several typical "market states". Using this classification we recognize transitions between different market states. A similarity measure we develop thus affords means of understanding changes in states and of recognizing developments not previously seen.

Effects of Daylight Saving Time changes on stock market volatility: a reply.

Science.gov (United States)

Berument, Hakan; Dogan, Nukhet

2011-12-01

There is a rich array of evidence that suggests that changes in sleeping patterns affect an individual's decision-making processes. A nationwide sleeping-pattern change happens twice a year when the Daylight Saving Time (DST) change occurs. Kamstra, Kramer, and Levi argued in 2000 that a DST change lowers stock market returns. This study presents evidence that DST changes affect the relationship between stock market return and volatility. Empirical evidence suggests that the positive relationship between return and volatility becomes negative on the Mondays following DST changes.

On the Use of Structural Equation Models in Marketing Modeling

NARCIS (Netherlands)

Steenkamp, J.E.B.M.; Baumgartner, H.

2000-01-01

We reflect on the role of structural equation modeling (SEM) in marketing modeling and managerial decision making. We discuss some benefits provided by SEM and alert marketing modelers to several recent developments in SEM in three areas: measurement analysis, analysis of cross-sectional data, and

Communication and marketing as climate change-intervention assets a public health perspective.

Science.gov (United States)

Maibach, Edward W; Roser-Renouf, Connie; Leiserowitz, Anthony

2008-11-01

The understanding that global climate change represents a profound threat to the health and well-being of human and nonhuman species worldwide is growing. This article examines the potential of communication and marketing interventions to influence population behavior in ways consistent with climate change prevention and adaptation objectives. Specifically, using a framework based on an ecologic model of public health, the paper examines: (1) the potential of communication and marketing interventions to influence population behaviors of concern, including support for appropriate public policies; (2) potential target audiences for such programs; and (3) the attributes of effective climate change messages. Communication and marketing interventions appear to have considerable potential to promote important population behavior change objectives, but there is an urgent need for additional translational research to effectively harvest this potential to combat climate change.

Changes in the world market in oil and oil refinements

International Nuclear Information System (INIS)

Ristik, Julija

1996-01-01

Since 1980's the world market for crude oil and oil products has faced significant changes that are going to have a grate influence on the supply and consumption of crude oil derivatives in Macedonia. The knowledge of these changes would have a grate contribution in planning the future development of this part of the energetic system of Macedonia. The purpose of this paper (which is a short version of the introductory report for the ZEMAK session with a theme 'Energetic policy and development of energetics in Macedonia') is to present the actual situation on the market for crude oil products, as well as to give the main factors that would have influence on this market in the future. (author). 4 refs., 3 ills

Endogenous sunk costs and the geographic differences in the market structures of CPG Categories

NARCIS (Netherlands)

Bronnenberg, B.J.; Dhar, S.; Dube, J.P.

2011-01-01

We describe the industrial market structure of CPG categories. The analysis uses a unique database spanning 31 consumer package goods (CPG) categories, 39 months, and the 50 largest US metropolitan markets. We organize our description of market structure around the notion that firms can improve

Social marketing: Pitfalls and promise for change

OpenAIRE

Scott, Jennifer E

2015-01-01

Background: Since 1971, social marketing (SM) has been adopted as a behaviour change approach to address various social issues, including those of public health and the environment. In a context of proliferating health promotion and intervention approaches, as well as a changing communication environment, SM as a field has had to respond to various challenges. The purpose of this research was to explore the current context of SM, understand the challenges to the practice of SM, and explore it...

Demographic Changes in the U.S. into the Twenty-First Century: Their Impact on Sport Marketing.

Science.gov (United States)

Hofacre, Susan; And Others

1992-01-01

Issues confronting sport marketers as U.S. demographics change include more older people, ethnic groups, working women, and minorities; television hours watched; and changes in family makeup. As the changes affect marketing, sport marketing will have to become more efficient in defining and reaching different markets. (SM)

Does pop music exist? Hierarchical structure in phonographic markets

Science.gov (United States)

Buda, Andrzej

2012-11-01

I find a topological arrangement of assets traded in phonographic markets which has associated a meaningful economic taxonomy. I continue using the Minimal Spanning Tree and the correlations between assets, but now outside the stock markets. This is the first attempt to use these methods on phonographic markets where we have artists instead of stocks. The value of an artist is defined by record sales. The graph is obtained starting from the matrix of correlation coefficients computed between the world’s most popular 30 artists by considering the synchronous time evolution of the difference of the logarithm of weekly record sales. This method provides the hierarchical structure of the phonographic market and information on which music genre is meaningful according to customers. Statistical properties (including the Hurst exponent) of weekly record sales in the phonographic market are also discussed.

Modeling the time-changing dependence in stock markets

International Nuclear Information System (INIS)

Frezza, Massimiliano

2012-01-01

The time-changing dependence in stock markets is investigated by assuming the multifractional process with random exponent (MPRE) as model for actual log price dynamics. By modeling its functional parameter S(t, ω) via the square root process (S.R.) a twofold aim is obtained. From one hand both the main financial and statistical properties shown by the estimated S(t) are captured by surrogates, on the other hand this capability reveals able to model the time-changing dependence shown by stocks or indexes. In particular, a new dynamical approach to interpreter market mechanisms is given. Empirical evidences are offered by analysing the behaviour of the daily closing prices of a very known index, the Industrial Average Dow Jones (DJIA), beginning on March,1990 and ending on February, 2005.

The changing structure of the US coal industry: An update, July 1993

Energy Technology Data Exchange (ETDEWEB)

1993-07-29

Section 205(a)(2) of the Department of Energy Organization Act of 1977 requires the Administrator of the Energy Information Administration (EIA) to carry out a central, comprehensive, and unified energy data and information program that will collect, evaluate, assemble, analyze, and disseminate data and information relevant to energy resources, reserves, production, demand, technology, and related economic and statistical information. The purpose of this report is to provide a comprehensive overview of changes in the structure of the US coal industry between 1976 and 1991. The structural elements examined include the number of mines, average mine size, the size distribution of mines, and the size distribution of coal firms. The report measures changes in the market shares of the largest coal producers at the national level and in various regions. The Central Appalachian low-sulfur coal market is given special attention, and the market for coal reserves is examined. A history of mergers in the coal industry is presented, and changes in the proportions of US coal output that are produced by various types of companies, including foreign-controlled firms, are described. Finally, the impact of post-1991 mergers on the structure of the industry is estimated. The legislation that created the EIA vested the organization with an element of statutory independence. The EIA does not take positions on policy questions. The EIA`s responsibility is to provide timely, high-quality information and to perform objective, credible analyses in support of deliberations by both public and private decisionmakers. Accordingly, this report does not purport to represent the policy positions of the US Department of Energy or the Administration.

The changing structure of the US coal industry: An update, July 1993

International Nuclear Information System (INIS)

1993-01-01

Section 205(a)(2) of the Department of Energy Organization Act of 1977 requires the Administrator of the Energy Information Administration (EIA) to carry out a central, comprehensive, and unified energy data and information program that will collect, evaluate, assemble, analyze, and disseminate data and information relevant to energy resources, reserves, production, demand, technology, and related economic and statistical information. The purpose of this report is to provide a comprehensive overview of changes in the structure of the US coal industry between 1976 and 1991. The structural elements examined include the number of mines, average mine size, the size distribution of mines, and the size distribution of coal firms. The report measures changes in the market shares of the largest coal producers at the national level and in various regions. The Central Appalachian low-sulfur coal market is given special attention, and the market for coal reserves is examined. A history of mergers in the coal industry is presented, and changes in the proportions of US coal output that are produced by various types of companies, including foreign-controlled firms, are described. Finally, the impact of post-1991 mergers on the structure of the industry is estimated. The legislation that created the EIA vested the organization with an element of statutory independence. The EIA does not take positions on policy questions. The EIA's responsibility is to provide timely, high-quality information and to perform objective, credible analyses in support of deliberations by both public and private decisionmakers. Accordingly, this report does not purport to represent the policy positions of the US Department of Energy or the Administration

Innovation in regulation of rapidly changing health markets.

Science.gov (United States)

Bloom, Gerald; Henson, Spencer; Peters, David H

2014-06-24

The rapid evolution and spread of health markets across low and middle-income countries (LMICs) has contributed to a significant increase in the availability of health-related goods and services around the world. The support institutions needed to regulate these markets have lagged behind, with regulatory systems that are weak and under-resourced. This paper explores the key issues associated with regulation of health markets in LMICs, and the different goals of regulation, namely quality and safety of care, value for money, social agreement over fair access and financing, and accountability. Licensing, price controls, and other traditional approaches to the regulation of markets for health products and services have played an important role, but they have been of questionable effectiveness in ensuring safety and efficacy at the point of the user in LMICs. The paper proposes a health market systems conceptual framework, using the value chain for the production, distribution and retail of health goods and services, to examine regulation of health markets in the LMIC context. We conclude by exploring the changing context going forwards, laying out implications for future heath market regulation. We argue that the case for new approaches to the regulation of markets for health products and services in LMICs is compelling. Although traditional "command and control" approaches will have a place in the toolkit of regulators, a broader bundle of approaches is needed that is adapted to the national and market-level context of particular LMICs. The implication is that it is not possible to apply standard or single interventions across countries, as approaches proven to work well in one context will not necessarily work well elsewhere.

Pass-through of Change in Policy Interest Rate to Market Rates

OpenAIRE

M. Idrees Khawaja; Sajawal Khan

2008-01-01

This paper examines the pass through of the change in policy interest rate of the central bank of Pakistan to market interest rates. The market rates examined include KIBOR, six month deposit rate and weighted average lending rate. More or less complete pass-through of the change in policy rate to KIBOR is observed within one month. However, the magnitude of change in policy rate to deposit and lending rate is not only low but is slow as well. The pass-through to the weighted average lending ...

The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

International Nuclear Information System (INIS)

Sijm, J.; Chen, Yihsu; Hobbs, B.F.

2009-06-01

This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices

The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

Energy Technology Data Exchange (ETDEWEB)

Sijm, J. [ECN Policy Studies, Petten (Netherlands); Chen, Yihsu [Merced School of Engineering, University of California, Merced, CA (United States); Hobbs, B.F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, Maryland (United States)

2009-06-15

This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

Nonlinear analysis and dynamic structure in the energy market

Science.gov (United States)

Aghababa, Hajar

This research assesses the dynamic structure of the energy sector of the aggregate economy in the context of nonlinear mechanisms. Earlier studies have focused mainly on the price of the energy products when detecting nonlinearities in time series data of the energy market, and there is little mention of the production side of the market. Moreover, there is a lack of exploration about the implication of high dimensionality and time aggregation when analyzing the market's fundamentals. This research will address these gaps by including the quantity side of the market in addition to the price and by systematically incorporating various frequencies for sample sizes in three essays. The goal of this research is to provide an inclusive and exhaustive examination of the dynamics in the energy markets. The first essay begins with the application of statistical techniques, and it incorporates the most well-known univariate tests for nonlinearity with distinct power functions over alternatives and tests different null hypotheses. It utilizes the daily spot price observations on five major products in the energy market. The results suggest that the time series daily spot prices of the energy products are highly nonlinear in their nature. They demonstrate apparent evidence of general nonlinear serial dependence in each individual series, as well as nonlinearity in the first, second, and third moments of the series. The second essay examines the underlying mechanism of crude oil production and identifies the nonlinear structure of the production market by utilizing various monthly time series observations of crude oil production: the U.S. field, Organization of the Petroleum Exporting Countries (OPEC), non-OPEC, and the world production of crude oil. The finding implies that the time series data of the U.S. field, OPEC, and the world production of crude oil exhibit deep nonlinearity in their structure and are generated by nonlinear mechanisms. However, the dynamics of the non

Labor Market Structure and Salary Determination among Professional Basketball Players.

Science.gov (United States)

Wallace, Michael

1988-01-01

The author investigates the labor market structure and determinants of salaries for professional basketball players. An expanded version of the resource perspective is used. A three-tiered model of labor market segmentation is revealed for professional basketball players, but other variables also are important in salary determination. (Author/CH)

Changed market conditions for biogas production; Foeraendrade marknadsvillkor foer biogasproduktion

Energy Technology Data Exchange (ETDEWEB)

Colnerud Granstroem, Sigrid; Gaaverud, Henrik; Glimhall, Alexandra

2010-10-15

The Swedish gas market consists mainly of the natural gas network that extends through the southwestern Sweden, and the local biogas markets. Biogas share of the Swedish gas market is growing steadily. The fact that the Swedish gas net is limited and fragmented forms an obstacle for biogas use to expand. That the gas market as a whole, natural gas included, must develop and expand is therefore a prerequisite for the large potential for Swedish Biogas to be realized. This in contrast with the ultimate objective to completely replace natural gas in the Swedish gas market. When policy changes are made in order to support biogas it is crucial for long-term competitiveness of biogas that these changes should not impact the natural gas market and hinder its development. Such a scenario would ultimately mean that also biogas development opportunities deteriorate. Biogas operations encounter three main problems that prevent or impede its expansion in the gas market. First, the potential for profitability in biogas production must be enhanced. Second, natural gas and biogas markets should be more integrated with each other. Thirdly, the biogas must be distributed in a cost-effective manner. The present investigation aims to supplement the Natural Gas Act with special provisions which takes into account the input and transmission of biogas. In addition to the production of biogas, it is now the producer's responsibility to clean the gas from water vapor, hydrogen sulfide and carbon dioxide and to augment the calorific value of the gas to the standard of Danish natural gas quality by propane addition and to ensure that the physical connection to network is available. There are thus a number of options available for shifting demarcation between biogas production and network operations. Short-term competitiveness of biogas would be strengthened most if purification and spiking the gas with propane and the connection to the network was imposed on network owners. In the

Investigating Food and Beverage Industry Market Structure and Market Power Based on Leo and Bresnahan’s Approach

OpenAIRE

M. Nabishahikitash; E. Gholipoorbolasi; A. Mohammadzadeh

2016-01-01

Introduction: Food processing industries are one of the major industrial groups in developing countries which play an important role in the economic development of these countries. With the Developed and Developing Food Industry on the other hand, food security and providing food are very important in each country. In an overview, markets are divided into two groups: The first group is a market with perfect competition. And second group is markets with monopoly structure.One of the importa...

National customer satisfaction indices: The impact of market structure

DEFF Research Database (Denmark)

Eskildsen, Jacob Kjær; Kristensen, Kai

The popularity of customer satisfaction measurements has grown considerably over the last few years but we know very little about how the structure of the individual markets with respect to the transparency of products and services as well as consumer preferences affects customer satisfaction. Here...... a total of 14540 customers have evaluated their preferred supplier with respect to banking, property insurance, supermarkets and mobile telecom. The analysis shows that market structure has a profound effect on customer satisfaction measurements and that this effect differs from industry to industry....... The paper concludes with an evaluation of the implications of the findings in relation to the use of results from customer satisfaction studies....

Establishing a Relationship between Behavior Change Theory and Social Marketing: Implications for Health Education.

Science.gov (United States)

Thackeray, Rosemary; Neiger, Brad L.

2000-01-01

Describes relationships between behavior change theory and social marketing practice, noting challenges in making behavior change theory an important component of social marketing and proposing that social marketing is the framework to which theory can be applied, creating theory-driven, consumer-focused, more effective health education programs.…

NB market update

International Nuclear Information System (INIS)

Marshall, W. K.

2004-01-01

The 2004 New Brunswick proclamation introduced several changes to the industry. This paper presents an update of the current New Brunswick electricity market from the perspective of the recently created New Brunswick System Operator (NBSO). A comparison was made between the modified industry and the previous industry structure. Significant changes included: corporate restructuring and market implementation; the formation of the independent system operator; and an increase in Public Utilities Board regulatory authority. The main objectives of the NBSO were reviewed, including its intention to reliably plan and operate the integrated power system as well as facilitating and operating the electricity market. Details of directors and officers were provided along with a list of legislated functions which included entering agreements with transmitters; provision and procurement of ancillary services; maintenance of integrated system; coordination of external activities; participation with standards authorities; planning and development of transmission; and the facilitation of a competitive market. An outline of the NBSO, Transco and Public Utilities Board relationships were presented. Details of the market advisory committee were outlined, with information concerning contracts, operations and services agreements. Transmission and ancillary services were also discussed, as well as issues concerning interruptible load agreements. A chart of the New Brunswick electricity market structure was presented, along with a market overview including details of capacity, ancillary services and suppliers. Market rules and amendments were presented, as well as market participation guides. Details of generation resource adequacy requirements and the imposition of penalties were outlined. Scheduling and dispatch issues were overviewed, as well as settlement processes, inputs and their sources, including settlements for variances. Future development possibilities included an expansion of

International Comparisons on Internal Labor Markets and Corporate Performance

Directory of Open Access Journals (Sweden)

Joonmo Cho

2003-12-01

Full Text Available This paper presents an analytical framework which demonstrates how the structures of corporate internal labor markets are formed within the broader labor and capital market context in the U.S. and Japan. This framework is then used to evaluate labor markets within Korean companies and to identify points of change which might promote greater efficiency. Prior to the Asian economic crisis, Korean conglomerates had large, closed internal labor markets. However, in the aftermath of the crisis, they have pursued structural downsizing and moved to open their labor markets. The empirical evidence introduced in this paper affirms the argument that the first step toward creating a flexible labor market in Korea should begin with establishing an efficient corporate governance structure. This implies that a simple switch from the Japanese paradigm for human resource management to an Anglo-American model or vice-versa may not improve internal labor market performance unless the change is accompanied by a solution to the problems posed by the minority controlling structure of Korean companies. The implications of this study for guiding policy in developing countries having labor market rigidities and underdeveloped corporate governance is clear. Capital market structure and corporate governance systems may provide an appropriate starting point for the development of any policies aimed at building an efficient human resource management system and a flexible labor market.

U.S. Cotton Prices and the World Cotton Market: Forecasting and Structural Change

OpenAIRE

Isengildina-Massa, Olga; MacDonald, Stephen

2009-01-01

The purpose of this study was to analyze structural changes that took place in the cotton industry in recent years and develop a statistical model that reflects the current drivers of U.S. cotton prices. Legislative changes authorized the U.S. Department of Agriculture to resume publishing cotton price forecasts for the first time in 79 years. In addition, systematic problems have become apparent in the forecasting models used by USDA and elsewhere, highlighting the need for an updated review...

Structural changes, roles and challenges

International Nuclear Information System (INIS)

2000-01-01

Statnett is facing great challenges in a Nordic and European integrated power market, with increasingly mighty commercial players. In a competing market there are conflicts between the socio-economic targets for Statkraft's activities and the commercial interests of Statnet's customers and other players in the power market. In the light of development, the connection lines between the customers and Statnett should be changed. Another problem is the legal competence problem that arises when the Oil and Energy Department (OED) works out the general policy at the same time as it owns Statkraft and Statnett and is the appellate body for the development decisions taken by the NVE (the Norwegian Water Resources and Energy Directorate). When comprehensive changes in Statkraft's company organisation and ownership are considered, special attention must be paid to the competence problem and to the risk of the commercial producers increasing their impact on how Statnett manages its role as a systems operator

The international uranium market - structure and outlook

International Nuclear Information System (INIS)

Noreng, Oe.

1978-01-01

It is pointed out that the international uranium market is immature and is subject to factors of a political, rather than economic nature. This is due largely to potential military exploitation, which has led USA, Canada and Australia to adopt a restrictive export policy. South Africa and France, on the other hand have a more liberal attitude. The history of the market, and the development of U308 prices are then discussed and related to the phases in the commercial exploitation of nuclear power. The present market structure is described, both international and within Canada, USA, Australia, South Africa and France. The future demand is then discussed, assuming three levels of demand and various price categories. It is shown that the demand will be only slightly influenced by moderate to large increases in price, assuming price rises for coal and oil. It is concluded that the price can rise to $400-500/pound U308. (JIW)

Measuring capital market efficiency: Global and local correlations structure

Czech Academy of Sciences Publication Activity Database

Krištoufek, Ladislav; Vošvrda, Miloslav

2013-01-01

Roč. 392, č. 1 (2013), s. 184-193 ISSN 0378-4371 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : Capital market efficiency * Fractal dimension * Long-range dependence * Short-range dependence Subject RIV: AH - Economics Impact factor: 1.722, year: 2013 http://library.utia.cas.cz/separaty/2012/E/kristoufek-measuring capital market efficiency global and local correlations structure.pdf

A Network-Based Dynamic Analysis in an Equity Stock Market

Directory of Open Access Journals (Sweden)

Juan Eberhard

2017-01-01

Full Text Available We study how changes in the structure of a brokers’ transaction network affect the probability with which the returns and volume of the traded financial assets change significantly. We analyze how the dynamics of the brokers’ transaction network are associated with the returns and volume observed in the Chilean stock market. To do this, we construct and validate an index that synthesizes the daily changes of the brokers’ transaction network structure of equity market transactions. We find that the changes of this structure are significantly correlated with variables that describe the local and international economic-financial environments. In addition, changes in the brokers’ transaction network structure are associated with a greater probability of positive shocks of more than two standard deviations in the stock exchange index return and total traded stock volume. These results suggest that the structure of the brokers’ trading relations plays a role in determining the returns and volume of transactions in the Chilean stock market.

The structure of a market containing boundedly rational firms

Science.gov (United States)

Ibrahim, Adyda; Zura, Nerda; Saaban, Azizan

2017-11-01

The structure of a market is determined by the number of active firms in it. Over time, this number is affected by the exit of existing firms, called incumbents, and entries of new firms, called entrant. In this paper, we considered a market governed by the Cobb-Douglas utility function such that the demand function is isoelastic. Each firm is assumed to produce a single homogenous product under a constant unit cost. Furthermore, firms are assumed to be boundedly rational in adjusting their outputs at each period. A firm is considered to exit the market if its output is negative. In this paper, the market is assumed to have zero barrier-to-entry. Therefore, the exiting firm can reenter the market if its output is positive again, and new firms can enter the market easily. Based on these assumptions and rules, a mathematical model was developed and numerical simulations were run using Matlab. By setting certain values for the parameters in the model, initial numerical simulations showed that in the long run, the number of firms that manages to survive the market varies between zero to 30. This initial result is consistent with the idea that a zero barrier-to-entry may produce a perfectly competitive market.

Novel indexes based on network structure to indicate financial market

Science.gov (United States)

Zhong, Tao; Peng, Qinke; Wang, Xiao; Zhang, Jing

2016-02-01

There have been various achievements to understand and to analyze the financial market by complex network model. However, current studies analyze the financial network model but seldom present quantified indexes to indicate or forecast the price action of market. In this paper, the stock market is modeled as a dynamic network, in which the vertices refer to listed companies and edges refer to their rank-based correlation based on price series. Characteristics of the network are analyzed and then novel indexes are introduced into market analysis, which are calculated from maximum and fully-connected subnets. The indexes are compared with existing ones and the results confirm that our indexes perform better to indicate the daily trend of market composite index in advance. Via investment simulation, the performance of our indexes is analyzed in detail. The results indicate that the dynamic complex network model could not only serve as a structural description of the financial market, but also work to predict the market and guide investment by indexes.

The natural gas market

International Nuclear Information System (INIS)

Lagrasta, F.; Kaminski, V.; Prevatt, R.

1999-01-01

This chapter presents a brief history of the natural gas market highlighting the changes in the gas market and examining risk management in practice detailing the types of price risks, and the use of hedging using forwards and swaps. Options to manage risk are identified, and the role of risk management in financing, the role of the intermediary, and the market outlook are discussed. Panels describing the market structure, storage and natural gas risk management, the art of risk management, the winter 1995-96 basis blowout, spark spreads, the UK gas market and Europe, and weather derivatives are presented

The Marketing of Cultural Values

Directory of Open Access Journals (Sweden)

Ionel Enache

2015-01-01

Full Text Available The current, fast and unpredictable changes required a rapid transformation of Marketing. Marketing 3.0 can be the solution. Marketing 3.0 is a cultural and social marketing, a marketing of high values: moral, legal, esthetic and a marketing of superior needs: peace, justice, spiritual accomplishments, all globally approached. The goal of Marketing 3.0 is to convince all commercial and cultural structures to get involved in creating the Millennium Development Goals (MDGs: eradicating poverty, access to education, promoting the equality of the sexes, reducing infantile mortality, improving maternal health, fighting diseases, ensuring environment sustainability.

Outlook for activity and structural change

International Nuclear Information System (INIS)

Anon.

1992-01-01

The level of energy-using activities is continuing to increase throughout the world, but the rates of likely growth differ among regions. Over the next 20 years, manufacturing production is expected to grow at a rapid pace in parts of the developing world, and moderately in the OECD countries. In the Former East Bloc, it seems likely to stagnate or decline for much of the 1990s, but could then grow at a moderate pace if the transition to a market economy is successfully managed. Domestic passenger travel seems likely to increase everywhere, and growth in international travel will be especially strong. Freight transport activity is difficult to evaluate in the aggregate, since the composition of goods changes over time, but increase is expected in all regions, especially in the developing countries. Structural change within sectors will have significant impacts on energy use. In manufacturing, faster growth in light industry will lead to lower energy intensity in the OECD countries and especially in the Former East Bloc. The outlook in the LDCs suggests somewhat higher growth in energy-intensive industries, but this trend will vary among countries. In passenger travel, structural change is pointing toward higher energy intensity in most of the world as the role of automobiles and air travel continues to grow. Increase in the use of trucks is pushing in a similar direction in freight transport. In the residential sector, structural change will have only a moderate impact in the OECD countries, where per capita levels of home services are already high, but will push energy use significantly upward in the LDCs, and to a lesser extent, in the Former East Bloc. 17 refs., 4 figs., 1 tab

Financing reform and structural change in the health services industry.

Science.gov (United States)

Higgins, C W; Phillips, B U

1986-08-01

This paper reviews the major trends in financing reform, emphasizing their impact on those characteristics of the market for health services that economists have viewed as monopolistic, and discusses the implications of structural change for the allied health professions. Hopefully, by understanding the fundamental forces of change and responding to uncertainty with flexibility and imagination, the allied health professions can capitalize on the opportunities afforded by structural change. Overall, these trends should result in the long-term outlook for use of allied health services to increase at an average annual rate of 9% to 10%. Allied health professionals may also witness an increase in independent practice opportunities. Finally, redistribution of jobs will likely occur in favor of outpatient facilities, home health agencies, and nontraditional settings. This in turn will have an impact on allied health education, which will need to adapt to these types of reforms.

Term Structure Examination of Indonesian Money Market: Some Efficiency Issue

Directory of Open Access Journals (Sweden)

Anggoro Budi Nugroho

2012-01-01

Full Text Available This paper examines efficiency of Indonesian term structure as imposed by the country’s central bank. The rate, widely understood as the Bank Indonesia (BI Rate varying from 30-day, 60-day, and 180-day, usually stated as the plain-vanilla cost of capital of interbank debt financing depending on their time length. In general, this rate will consequently impact various other sorts of interest rates in the country’s debt market as a whole. When dealing with market efficiency, statistical inference shows that short-term BI Rate’s is not the best predictor of its long-term one due to some uncertain asymmetric information. This finding may lead to further adjustment in risk management strategy for hedging with interest rate. Keywords: term structure, risk premia, expectation hypothesis (EH, market efficiency, cointegration, volatility spillover, expansionary monetary policy

MARKETING RESPONSES TO CHANGING CONSUMER PREFERENCES IN THE FRESH BEEF INDUSTRY

OpenAIRE

Procopio, Mary Elizabeth

1990-01-01

The fresh meat industry is changing the way it markets its products. The decline in red meat consumption that has resulted from greater consumer concerns about the "healthfulness" of red meat, coupled with changes in consumer lifestyles emphasizing a need for convenience is contributing to the diminishment of "commodity selling" in favor of a true "marketing" approach (Pierson and Allen, 1986). In a traditional industry such as meats, the shift from a commodity-selling perspective (i.e., sell...

Improved Methods for Predicting Property Prices in Hazard Prone Dynamic Markets

NARCIS (Netherlands)

de Koning, Koen; Filatova, Tatiana; Bin, Okmyung

Property prices are affected by changing market conditions, incomes and preferences of people. Price trends in natural hazard zones may shift significantly and abruptly after a disaster signalling structural systemic changes in property markets. It challenges accurate market assessments of property

Study of relationship between the organizational structure and market orientation from the viewpoint of nurse managers.

Science.gov (United States)

Bahadori, Mohammadkarim; Yaghoubi, Maryam; Javadi, Marzieh; Rahimi, Zahreh Agha

2015-01-01

Considering globalization of health care and quality improvement trend to respond to competition and customer orientation, attention to organizational structure and its relationship with market orientation is essential. Therefore, this study reviews the relationship between organizational structure and market orientation in selected hospitals of Isfahan (Iran). This study was a descriptive survey. The study population comprised nurse managers from selected hospitals (n = 80). Data collection tools were two questionnaires (market orientation questionnaire and organizational structure) that the validity and reliability were confirmed (r = 0.83 for market orientation questionnaire and r = 0.87 for organizational structure). SPSS (Ver. 16) software was used for the analyses. The mean score of organizational structure was 65.4 (11.2) and total mean of market orientation was 51.14 (17.6). All aspects of the organizational structure (Organization Centralization, Formalization in Organization, and Organization Complication) and market orientation (responding to competition, accountability, customer satisfaction, intelligent organization)-except by responding to clients with Formalization in Organization-as well as all aspects of the Systemic attitude (the system of internal coordination and communication systems_ and market orientation (responding to competition, accountability, customer satisfaction, intelligent organization), there was a meaningful relationship (P organizational structure and can lead managers' view to the analysis and recognizing elements of success and achievement to goals. With increasing competition in markets, globalization of health services, and presence in international markets and more attention to patients' satisfaction, hospitals need to understand and use of market orientation in order to promote quality and services in the health care system.

Management of the structure of marketing - practical necessity not solved in theory

OpenAIRE

Rutkauskas, Aleksandras Vytautas; Stasytytė, Viktorija; Staskevičiūtė, Giedrė

2007-01-01

Marketing is constantly concerned with the following problems - what amount of funds reaches maximum marginal effect and what the optimal structure of expenditures on separate marketing means should be. Moreover, nowadays it is increasingly important to reach business sustainability. The paper proposes means of solving the problem integrating these questions - how to achieve the maximum marginal marketing funds efficiency with optimal funds distribution among separate marketing means. Employi...

Estimating Non-Market Impacts of Climate Change and Climate Policy

International Nuclear Information System (INIS)

Rothman, D.S.; Amelung, B.; Polome, P.

2003-01-01

A number of studies over the past few decades have attempted to estimate the potential impacts of climate change and climate policy. For reasons related to, inter alia, our incomplete understanding of the workings of many natural and social systems, the tremendous spatial and temporal variability in these systems, and the long time frames over which the issue of climate change will play out, there are large degrees of uncertainty in these estimates. Some of the most rancorous debates, however, have focused on those studies that have attempted to place economic values on these impacts. This should not be surprising as the outcomes of these studies have played an important role in the debates over climate policy. Rightly or wrongly, the estimates presented in these studies are often held up against similar estimates of the costs of mitigating against climate change. The process of economic valuation of environmental and social issues is still relatively young, much less its application to the potential impacts of climate change and climate policy. Issues such as climate change push existing techniques to their limits, and possibly beyond. Among the topics that have raised the most concern are the choice of the proper baseline against which to make comparisons, the treatment of uncertainty in human and natural systems, incomplete accounting, the actual valuation of specific impacts, and the aggregation of impacts over time and across widely differing societies. Some of the more recent studies have tried to address these issues, albeit not always satisfactorily. One aspect that makes the economic valuation of environmental and social issues difficult is that it requires addressing impacts that are not typically associated with economic markets, so called nonmarket impacts. In addition to not being traded in markets, many of these impacts affect goods and services that have the characteristic of being public goods, i.e. it is not possible to restrict their use to a

Selection of power market structure using the analytic hierarchy process

International Nuclear Information System (INIS)

Subhes Bhattacharyya; Prasanta Kumar Dey

2003-01-01

Selection of a power market structure from the available alternatives is an important activity within an overall power sector reform program. The evaluation criteria for selection are both subjective as well as objective in nature and the selection of alternatives is characterised by their conflicting nature. This study demonstrates a methodology for power market structure selection using the analytic hierarchy process, a multiple attribute decision- making technique, to model the selection methodology with the active participation of relevant stakeholders in a workshop environment. The methodology is applied to a hypothetical case of a State Electricity Board reform in India. (author)

Quantitative law describing market dynamics before and after interest-rate change

International Nuclear Information System (INIS)

Petersen, Alexander M.; Wang Fengzhong; Stanley, H. Eugene; Havlin, Shlomo

2010-01-01

We study the behavior of U.S. markets both before and after U.S. Federal Open Market Commission meetings and show that the announcement of a U.S. Federal Reserve rate change causes a financial shock, where the dynamics after the announcement is described by an analog of the Omori earthquake law. We quantify the rate n(t) of aftershocks following an interest-rate change at time T and find power-law decay which scales as n(t-T)∼(t-T) -Ω , with Ω positive. Surprisingly, we find that the same law describes the rate n ' (|t-T|) of 'preshocks' before the interest-rate change at time T. This study quantitatively relates the size of the market response to the news which caused the shock and uncovers the presence of quantifiable preshocks. We demonstrate that the news associated with interest-rate change is responsible for causing both the anticipation before the announcement and the surprise after the announcement. We estimate the magnitude of financial news using the relative difference between the U.S. Treasury Bill and the Federal Funds effective rate. Our results are consistent with the 'sign effect', in which 'bad news' has a larger impact than 'good news'. Furthermore, we observe significant volatility aftershocks, confirming a 'market under-reaction' that lasts at least one trading day.

Quantitative law describing market dynamics before and after interest-rate change.

Science.gov (United States)

Petersen, Alexander M; Wang, Fengzhong; Havlin, Shlomo; Stanley, H Eugene

2010-06-01

We study the behavior of U.S. markets both before and after U.S. Federal Open Market Commission meetings and show that the announcement of a U.S. Federal Reserve rate change causes a financial shock, where the dynamics after the announcement is described by an analog of the Omori earthquake law. We quantify the rate n(t) of aftershocks following an interest-rate change at time T and find power-law decay which scales as n(t-T)∼(t-T)(-Ω) , with Ω positive. Surprisingly, we find that the same law describes the rate n'(|t-T|) of "preshocks" before the interest-rate change at time T . This study quantitatively relates the size of the market response to the news which caused the shock and uncovers the presence of quantifiable preshocks. We demonstrate that the news associated with interest-rate change is responsible for causing both the anticipation before the announcement and the surprise after the announcement. We estimate the magnitude of financial news using the relative difference between the U.S. Treasury Bill and the Federal Funds effective rate. Our results are consistent with the "sign effect," in which "bad news" has a larger impact than "good news." Furthermore, we observe significant volatility aftershocks, confirming a "market under-reaction" that lasts at least one trading day.

Quantitative law describing market dynamics before and after interest-rate change

Science.gov (United States)

Petersen, Alexander M.; Wang, Fengzhong; Havlin, Shlomo; Stanley, H. Eugene

2010-06-01

We study the behavior of U.S. markets both before and after U.S. Federal Open Market Commission meetings and show that the announcement of a U.S. Federal Reserve rate change causes a financial shock, where the dynamics after the announcement is described by an analog of the Omori earthquake law. We quantify the rate n(t) of aftershocks following an interest-rate change at time T and find power-law decay which scales as n(t-T)˜(t-T)-Ω , with Ω positive. Surprisingly, we find that the same law describes the rate n'(|t-T|) of “preshocks” before the interest-rate change at time T . This study quantitatively relates the size of the market response to the news which caused the shock and uncovers the presence of quantifiable preshocks. We demonstrate that the news associated with interest-rate change is responsible for causing both the anticipation before the announcement and the surprise after the announcement. We estimate the magnitude of financial news using the relative difference between the U.S. Treasury Bill and the Federal Funds effective rate. Our results are consistent with the “sign effect,” in which “bad news” has a larger impact than “good news.” Furthermore, we observe significant volatility aftershocks, confirming a “market under-reaction” that lasts at least one trading day.

Structure of Cost of Equity as the Dependence on the Corporate- and Market Life Cycle

Directory of Open Access Journals (Sweden)

Zdeněk Konečný

2013-10-01

Full Text Available Purpose of the article: Companies, like all living creatures, goes through their life cycle, which includes some partial phases. Each of these phases is specific. Depending up the corporate life cycle, there are changed managerial decisions, that have an considerable influence, among others, on financial indicators like liquidity (current ratio, quick ratio, cash ratio, return (on investment, assets, equity, sales, economic value added, or cost of capital. The purpose of this article is to show relations between corporate life cycle and the structure of cost of equity. Furthermore, there will be, besides the corporate life cycle, considered also the market life cycle and market positions, that can companies hold on the market, on which they are acting. Methodology/methods: There is used a method, based on the analysis of secondary data, gotten from financial statements of selected companies and from statistical and analytical documents, published by Czech Ministry of Industry and Trade. There are selected 39 companies, acting on the czech market with motor vehicles production. The data are gathered for periods from 2002 up to 2010. There is used a model by Reiners (2004 to identify phases of corporate- and market life cycle and market positions. For finding out the structure of cost of equity there is used the constructional model by Czech Ministry of Industry and Trade. Scientific aim: The selected companies are divided into groups with considering different phases of their life cycle and with considering their different market positions. There are for each period found out numbers of companies from these groups, that reached the minimal value, the value within the interval and maximal value of all risk rewards, that are, besides the riskless rate, components of cost of equity. Findings: The greatest part of cost of equity, reached on the market, is the riskless rate. Other components (and their shares on the cost of equity

Analysis of soybean supply to price changes in the domestic market ...

African Journals Online (AJOL)

The study showed that farmers' responses were not encouraging in the production and supply of soybean in the domestic markets with respect to the dictate of prices, price expectations and price of groundnut as a chosen competitive enterprise. Keywords: Response, soybean supply, price changes, soybean market, ...

Credit risk in liberalised power and natural gas markets

International Nuclear Information System (INIS)

Lapson, E.; Hunter, Richard

1999-01-01

This chapter examines the relationship of market structure and price volatility to credit risk, and discusses credit risk and energy market structures, credit risk in bilateral contracts, market evolution, and the effect of liberalising power markets on credit quality considering the power liberalising in Europe, the pace of change, and the new risks and opportunities. The market structure in Europe is addressed, and the EU Directive 96/92/EC, structural requirements, access for new generation capacity, and transmission costs are considered. Details of the liberalisation in the UK electricity market, the German market, and the Nord Pool are given, and the best credit practices in bilateral markets, and the quantifying of expected credit loss are described. Panels highlighting the need to know your counterparty in evaluating and negotiating bilateral contracts, and lessons learnt from the June 1998 US power price spike are presented

Entry Regulations, Product Differentiation and Determinants of Market Structure

OpenAIRE

Maican, Florin; Orth, ´Matilda

2013-01-01

We use a dynamic oligopoly model of entry and exit to evaluate how entry regulations affect profitability and market structure in retail. The model incorporates demand and store-level heterogeneity. Based on unique data for all retail food stores in Sweden, we find that the average entry costs for small and large stores are 10 and 18 percent lower, respectively, in markets with liberal compared with restrictive regulations. Counterfactual simulations show that lower entry costs in restrictive...

The influence of structural changes to the tourist industry in Montenegro

Directory of Open Access Journals (Sweden)

Adžić Slavica

2017-01-01

Full Text Available The influence of transition on the society has reflected on the entire social-economic circumstances in Montenegro. This complex and long process has changed the stability of economic growth and the development of the national economy and has effectuated the structural changes in the economy of Montenegro. Beside transition, the war in the surroundings, international isolation and numerous other problems, which have changed flows of the social and economic development, have affected the condition of the economy system. On the example of other surrounding countries, Montenegro has persevered to provide, through the process of structural reforms, more rational and efficient company market business dealings. This paper investigates to which extent and in which manner the structural changes have reflected onto the tourist industry and which results have been achieved on the basis of reforms which should provide for the joining with the flows of European and World development. By changing the company's state-legal status, the state has strived to provide a greater level of economical activity, productivity growth, degree of participation in the social product, national revenue and employment. According to national economy aggregate indicators, the structural changes have not yet provided the balance of the entire economy to a sufficient extent. Social, economic and political stability are the assumptions for tourism development which is very sensitive to numerous changes in economy and in the society.

Structuring strategy and relationships in North American gas markets

International Nuclear Information System (INIS)

Fisher, J.

1998-01-01

Duke Energy's experience in strategy development and structuring relationships with other companies were described. Included was a description of their partnership with PanEnergy and Mobil and a merger between PanEnergy and Duke. In developing their growth strategy, Duke Energy was guided by the following considerations: (1) an assessment of the market, (2) the identification of opportunities, (3) a self-assessment, (4) the establishment of goals, and (5) determining strategic alternatives. The advantages and disadvantages of different structuring relationships were reviewed. Duke Energy's approach to Ontario's residential market and their agreement with Alliance Gas Management were also discussed. The goal of the Alliance Gas management agreement was to simplify Alliance's wholesale gas supply management needs and to allow Alliance access to diverse gas supplies. figs

Network structure detection and analysis of Shanghai stock market

Directory of Open Access Journals (Sweden)

Sen Wu

2015-04-01

Full Text Available Purpose: In order to investigate community structure of the component stocks of SSE (Shanghai Stock Exchange 180-index, a stock correlation network is built to find the intra-community and inter-community relationship. Design/methodology/approach: The stock correlation network is built taking the vertices as stocks and edges as correlation coefficients of logarithm returns of stock price. It is built as undirected weighted at first. GN algorithm is selected to detect community structure after transferring the network into un-weighted with different thresholds. Findings: The result of the network community structure analysis shows that the stock market has obvious industrial characteristics. Most of the stocks in the same industry or in the same supply chain are assigned to the same community. The correlation of the internal stock prices’ fluctuation is closer than in different communities. The result of community structure detection also reflects correlations among different industries. Originality/value: Based on the analysis of the community structure in Shanghai stock market, the result reflects some industrial characteristics, which has reference value to relationship among industries or sub-sectors of listed companies.

Rhetorical Strategies of Consumer Activists: Reframing Market Offers to Promote Change

Directory of Open Access Journals (Sweden)

Daiane Scaraboto

2013-10-01

Full Text Available Consumer researchers have most frequently looked at the influence the marketplace has on consumers’ identity projects, while the reverse process – how consumers’ identity projects influence the marketplace and general culture – is an important issue that has received less attention. Aiming to contribute to the development of this literature, we conduct a qualitative netnographic investigation of the Fat Acceptance Movement, an online-based movement led by consumer-activists who attempt to change societal attitudes about people who are fat. Our main goal is, therefore, to investigate how consumer activists who congregate online, that is, cyberactivists, reframe market offers while attempting to promote market and cultural change. We identify several rhetorical strategies employed by online consumer activists in their quests to change themselves, other consumers, and the broader culture. Our findings advance consumer research on how consumers may mobilize resources to initiate and promote self-, market-, and cultural transformations.

The Evolving Market Structure of the U.S. Residential Solar PV Installation Industry, 2000-2016

Energy Technology Data Exchange (ETDEWEB)

OShaughnessy, Eric J [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

2018-02-22

Market structure refers to the number of firms and the distribution of market shares among firms within an industry. In The Evolving Market Structure of the U.S. Residential Solar PV Installation Industry, 2000-2016, we examine market structure in the context of residential solar PV. We find that over 8,000 companies have installed at least one residential PV system, with about 2,900 companies active in 2016. The majority of residential PV installers are relatively small companies, with about half of installers installing fewer than five systems. At the same time, a subset of high-volume installers accumulated market share, especially beginning around 2010 with the emergence of alternative customer financing options.

Global nuclear markets in the context of climate change and sustainable development. Chapter 2

International Nuclear Information System (INIS)

Morrison, R.

2001-01-01

This article (Chapter Two) focuses on the global nuclear markets in the context of policies regarding climate change and sustainable development. The global market realities and the export potential of the canadian nuclear industry are becoming crucial features of the nuclear political economy. The article examines the role of exports in the evolution of nuclear policy in Canada, and looks more closely at nuclear power and CANDU projects in the specific context of global competitive markets. It examines the trends in electricity and nuclear energy in the market for nuclear reactors. Finally, this article locates these changes in the context of the issues that are inherent in climate change and sustainable development

The theoretical basis of influence and the structure of marketing environment

Directory of Open Access Journals (Sweden)

Stefanova Olena

2015-11-01

Full Text Available The article is devoted to the justification of the nature and structure of the external environment of marketing. The study proves that the data analysis of the environment - is just one of many elements in the process of marketing strategy. The main task of monitoring – is to define the environment trends, issues, events or signals aimed to encourage the company management to revise the strategy and tactics of marketing.

State policy change: Revenue decoupling in the electricity market

Science.gov (United States)

McNeil, Kytson L.

The study seeks to answer the question, why are states adopting revenue decoupling in the electricity market, by investigating the relationship between policy adoption and attributes of the electricity market, the structure of the state utility commissions, and the political climate of the state. The study examines the period 1978-2008. Two econometric models, the marginal risk set model and the conditional risk set model, are estimated to predict the influence of covariates on the probability of the state adopting revenue decoupling in the electricity market. The models are both variants of the Cox proportional hazard model and use different underlying assumptions about the nature of adoption of revenue decoupling and when the states are considered to be at risk of adoption. Results suggest that market attributes, such as the source of electricity generation in the state, state energy intensity, and the distribution of non-public and public utilities, significantly influence the adoption of the policy. Also, the method of selecting commissioners and the party affiliation of elected officials in the state are important factors. The study concludes by suggestions to improve the implementation and evaluation of revenue decoupling in the electricity markets.

E-marketing and contemporary business

OpenAIRE

Ratković Milijanka

2007-01-01

Seems that internet use in business requires accomplishing the higher level of cultural and structural changes in organizations. That is why many companies use both traditional and interactive way of doing business by developing appropriate level of integration to create useful differential advantages. Marketing oriented companies pay great importance in establishing marketing strategy overarching many of marketing elements including internet - an ideal communication means for progress of dif...

Effects of technological change in regional labor markets in Mexico

Directory of Open Access Journals (Sweden)

Reyna Elizabeth Rodríguez Pérez

2012-07-01

Full Text Available Technological change has meant that organizations require workers with higher qualifications, development, implementation and adaptation of technology looking to stay at the forefront in international competitiveness. The aim of this paper is to analyze the changes that have occurred in regional labor markets in Mexico on occupational and wage and identify to what extent these changes may have resulted from technological change and if this behavior is spatially homogeneous. The information source is made up of microdata from the National Survey of Urban Employment (Employment Survey 2000–2004. The empirical analysis –considering workers officiating at high and low technological intensity and applying a Mincerian income function with different classification criteria: education, sex, age groups and regions– during the period indicate that there have been significant changes in the Mexican labor market as a result of biased technological change, as it provides statistical evidence indicating the existence of a higher wage premium for subordinates in the technological area, and different effects at the regional level, encouraging more to the border.

Intensity of Competition and Market Structure in the Italian Banking Industry

NARCIS (Netherlands)

Giannetti, C.

2008-01-01

This work tests the predictions of Sutton’s model of independent submarkets for the Italian retail banking industry. In the first part of this paper, I develop a model of endogenous mergers to evidence the relationship between firms’ conduct, market entry and market structure. In the second part, I

Volatility measurement with directional change in Chinese stock market: Statistical property and investment strategy

Science.gov (United States)

Ma, Junjun; Xiong, Xiong; He, Feng; Zhang, Wei

2017-04-01

The stock price fluctuation is studied in this paper with intrinsic time perspective. The event, directional change (DC) or overshoot, are considered as time scale of price time series. With this directional change law, its corresponding statistical properties and parameter estimation is tested in Chinese stock market. Furthermore, a directional change trading strategy is proposed for invest in the market portfolio in Chinese stock market, and both in-sample and out-of-sample performance are compared among the different method of model parameter estimation. We conclude that DC method can capture important fluctuations in Chinese stock market and gain profit due to the statistical property that average upturn overshoot size is bigger than average downturn directional change size. The optimal parameter of DC method is not fixed and we obtained 1.8% annual excess return with this DC-based trading strategy.

Structural Break, Stock Prices of Clean Energy Firms and Carbon Market

Science.gov (United States)

Wang, Yubao; Cai, Junyu

2018-03-01

This paper uses EU ETS carbon future price and Germany/UK clean energy firms stock indices to study the relationship between carbon market and clean energy market. By structural break test, it is found that the ‘non-stationary’ variables judged by classical unit root test do own unit roots and need taking first difference. After analysis of VAR and Granger causality test, no causal relationships are found between the two markets. However, when Hsiao’s version of causality test is employed, carbon market is found to have power in explaining the movement of stock prices of clean energy firms, and stock prices of clean energy firms also affect the carbon market.

Temporal evolution of financial-market correlations

Science.gov (United States)

Fenn, Daniel J.; Porter, Mason A.; Williams, Stacy; McDonald, Mark; Johnson, Neil F.; Jones, Nick S.

2011-08-01

We investigate financial market correlations using random matrix theory and principal component analysis. We use random matrix theory to demonstrate that correlation matrices of asset price changes contain structure that is incompatible with uncorrelated random price changes. We then identify the principal components of these correlation matrices and demonstrate that a small number of components accounts for a large proportion of the variability of the markets that we consider. We characterize the time-evolving relationships between the different assets by investigating the correlations between the asset price time series and principal components. Using this approach, we uncover notable changes that occurred in financial markets and identify the assets that were significantly affected by these changes. We show in particular that there was an increase in the strength of the relationships between several different markets following the 2007-2008 credit and liquidity crisis.

Model or Myopia? Exploiting Water Markets to Address Population and Drought Risks in a Changing World

Science.gov (United States)

Reed, P. M.

2012-12-01

Climate change, population demands, and evolving land-use represent strong risks to the sustainable development and stability of world-wide urban water supplies. There is a growing consensus that non-structural supply management instruments such as water markets have significant potential to reduce the risks and vulnerabilities in complex urban water systems. This paper asks a common question, what are the tradeoffs for a city using water market supply instruments?. This question emerges quickly in policy and management, but its answer is deceptively difficult to attain using traditional planning tools and management frameworks. This research demonstrates new frameworks that facilitate rapid evaluation of hypotheses on the reliability, resiliency, adaptability, and cost-effectiveness of urban water supply systems. This study considers a broader exploration of the issues of "nonstationarity" and "uncertainty" in urban water planning. As we invest in new information and prediction frameworks for the coupled human-natural systems that define our water, our problem definitions (i.e., objectives, constraints, preferences, and hypotheses) themselves evolve. From a formal mathematical perspective, this means that our management problems are structurally uncertain and nonstationary (i.e., the definition of optimality changes across regions, times, and stakeholders). This uncertainty and nonstationarity in our problem definitions needs to be more explicitly acknowledged in adaptive management and integrated water resources management. This study demonstrates the potential benefits of exploring these issues in the context of a city in the Lower Rio Grande Valley (LRGV) of Texas, USA determining how to use its regional water market to manage population and drought risks.

The influence of labor market changes on first-time medical school applicant pools.

Science.gov (United States)

Cort, David A; Morrison, Emory

2014-12-01

To explore whether the number and composition of first-time applicants to U.S. MD-granting medical schools, which have fluctuated over the past 30 years, are related to changes in labor market strength, specifically the unemployment rate and wages. The authors merged time series data from 1980 through 2010 (inclusive) from five sources and used multivariate time series models to determine whether changes in labor market strength (and several other macro-level factors) were related to the number of the medical school applicants as reported by the American Medical College Application Service. Analyses were replicated across specific sex and race/ethnicity applicant pools. Two results surfaced in the analyses. First, the strength of the labor market was not influential in explaining changes in applicant pool sizes for all applicants, but was strongly influential in explaining changes for black and Hispanic males. Increases of $1,000 in prevailing median wages produced a 1.6% decrease in the white male applicant pool, while 1% increases in the unemployment rate were associated with 4.5% and 3.1% increases in, respectively, the black and Hispanic male applicant pools. Second, labor market strength was a more important determinant in applications from males than in applications from females. Although stakeholders cannot directly influence the overall economic market, they can plan and prepare for fewer applications from males, especially those who are black and Hispanic, when the labor market is strong.

[Does co-operation research provide approaches to explain the changes in the German hospital market?].

Science.gov (United States)

Raible, C; Leidl, R

2004-11-01

The German hospital market faces an extensive process of consolidation. In this change hospitals consider cooperation as one possibility to improve competitiveness. To investigate explanations of changes in the German hospital market by theoretical approaches of cooperation research. The aims and mechanism of the theories, their relevance in terms of contents and their potential for empirical tests were used as criteria to assess the approaches, with current and future trends in the German hospital market providing the framework. Based on literature review, six theoretical approaches were investigated: industrial organization, transaction cost theory, game theory, resource dependency, institutional theory, and co-operative investment and finance theory. In addition, the data needed to empirically test the theories were specified. As a general problem, some of the theoretical approaches set a perfect market as a precondition. This precondition is not met by the heavily regulated German hospital market. Given the current regulations and the assessment criteria, industrial organization as well as resource-dependency and institutional theory approaches showed the highest potential to explain various aspects of the changes in the hospital market. So far, none of the approaches investigated provides a comprehensive and empirically tested explanation of the changes in the German hospital market. However, some of the approaches provide a theoretical background for part of the changes. As this dynamic market is economically of high significance, there is a need for further development and empirical testing of relevant theoretical approaches.

Analysing the impact of buyers' personality constructs on the market structure of brands

DEFF Research Database (Denmark)

Chrysochou, Polymeros; Krystallis, Athanasios; Rungie, Cam

2008-01-01

In order to operationalize brand loyalty, various models have been applied that estimate brand measures and further describe patterns and the structure of the markets. A well known model in this area is the Dirichlet-NBD model. Despite major advancements to those models, how buyers' characteristics...... and psychographics influence actual brand measures and the overall market structure in repeat purchase occasions is still under-researched. Moreover, measuring the type and magnitude of buyer-related effects on brand loyalty could provide additional valuable information to brand managers. Aim of this paper...... is to provide an approach of estimating the effect that various personality constructs have on brand measures and overall market structure through revealed preference data....

Random fractal structures in North American energy markets

Energy Technology Data Exchange (ETDEWEB)

Serletis, Apostolos [Calgary Univ., Dept. of Economics, Calgary, AB (Canada); Andreadis, Ioannis [European Univ. of the Hague, Center of Management Studies, The Hague (Netherlands)

2004-05-01

This paper uses daily observations on West Texas Intermediate (WTI) crude oil prices at Chicago and Henry Hub natural gas prices at LA (over the deregulated period of the 1990s) and various tests from statistics and dynamical systems theory to support a random fractal structure for North American energy markets. In particular, this evidence is supported by the Vassilicos et al. (1993) multifractal structure test and the Ghashghaie et al. [Nature 381 (1996) 767] turbulent behavior test. (Author)

Humps in the volatility structure of the crude oil futures market: New evidence

International Nuclear Information System (INIS)

Chiarella, Carl; Kang, Boda; Nikitopoulos, Christina Sklibosios; Tô, Thuy-Duong

2013-01-01

This paper analyses the volatility structure of commodity derivatives markets. The model encompasses hump-shaped, unspanned stochastic volatility, which entails a finite-dimensional affine model for the commodity futures curve and quasi-analytical prices for options on commodity futures. Using an extensive database of crude oil futures and futures options spanning 21 years, we find the presence of hump-shaped, partially spanned stochastic volatility in the crude oil market. The hump shaped feature is more pronounced when the market is more volatile, and delivers better pricing as well as hedging performance under various dynamic factor hedging schemes. - Highlights: • This paper analyses the volatility structure of commodity derivatives markets. • 21-years of data on crude oil futures and futures options is used. • The crude oil futures market has hump-shaped, unspanned stochastic volatility. • The hump shaped feature is more pronounced when the market is more volatile. • Hump shape delivers better pricing and hedging compared to exponential decay

The use of the natural-gas pipeline infrastructure for hydrogen transport in a changing market structure

International Nuclear Information System (INIS)

Haeseldonckx, Dries; D'haeseleer, William

2007-01-01

In this paper, the transport and distribution aspects of hydrogen during the transition period towards a possible full-blown hydrogen economy are carefully looked at. Firstly, the energetic and material aspects of hydrogen transport through the existing natural-gas (NG) pipeline infrastructure is discussed. Hereby, only the use of centrifugal compressors and the short-term security of supply seem to constitute a problem for the NG to hydrogen transition. Subsequently, the possibility of percentwise mixing of hydrogen into the NG bulk is dealt with. Mixtures containing up to 17 vol% of hydrogen should not cause difficulties. As soon as more hydrogen is injected, replacement of end-use applications and some pipelines will be necessary. Finally, the transition towards full-blown hydrogen transport in (previously carrying) NG pipelines is treated. Some policy guidelines are offered, both in a regulated and a liberalised energy (gas) market. As a conclusion, it can be stated that the use of hydrogen-natural gas mixtures seems well suited for the transition from natural gas to hydrogen on a distribution (low pressure) level. However, getting the hydrogen gas to the distribution grid, by means of the transport grid, remains a major issue. In the end, the structure of the market, regulated or liberalised, turns out not to be important. (author)

MARKET CAPACITY AND STRUCTURE AS INDICATORS FOR CORPORATE STRATEGY

Directory of Open Access Journals (Sweden)

LIVIU NEAMTU

2017-11-01

Full Text Available In the management practice, in order to create a competitive strategic system of business, for each level of decision will be used those strategic combinations and alternatives that are consistent with the company's interests and possibilities and with current conditions each market. For it there is continuous process consisting of analysis in various aspects of the market based on its size and continuing with structure, sensitivity and its dynamics, a process that allow having enough data to determine business objectives, specify options for actions and establish implementing measures. However, in this study we aim to highlight a correlation between the various decision-making needs of the company and the various features that can be analyzed at a market.

Microcredit and Survival Microenterprises: The Role of Market Structure

Directory of Open Access Journals (Sweden)

P. V. Viswanath

2017-12-01

Full Text Available Poverty remains a pervasive problem all over the world, but the problem is worst in underdeveloped areas like Africa. While microfinance is supposed to address this problem through the promotion of viable businesses, it has not been very successful in helping survival microenterprises, i.e., businesses that the very poor with limited human capital have access to, in sectors with low barriers to entry and selling undifferentiated products. In this paper, I examine the role of market structure in mediating the impact of micro-lending to such survival enterprises. While there have been many evaluations of microfinance institutions (MFIs, there have been very few that look at market conditions as an input into the success of micro-lending. My theoretical analysis suggests that when introducing an extensive program of microcredit in undeveloped and relatively isolated rural areas, it is important to look at how the market structure mediates the impact of the provision of loans on the demand and supply for the end-product or service. I present some empirical evidence, which provides partial confirmation that MFIs are not currently taking these considerations into account.

SOME CHANGES IN INFORMATION TECHNOLOGY AFFECTING MARKETING IN THE YEAR 2000,

Science.gov (United States)

The report considers how far the year 2000 is from today, then some of the changes in the information technology one might expect, and lastly how these changes might affect marketing and its segmentation. (Author)

Developing organizational structures for international marketing

OpenAIRE

Ioan Cucu

2002-01-01

International marketing represents marketing activities performed across national boundaries. The level of involvement in international marketing can range from casual exporting to globalization of markets. Although most firms adjust their marketing mixes for differences in target markets, some firms are able to standardize their marketing efforts worldwide

The climate change/energy efficiencies market in Brazil

International Nuclear Information System (INIS)

2000-03-01

In December 1997, one hundred and sixty countries negotiated the Kyoto Protocol, where a commitment was made by industrialized countries to reduce their greenhouse gas (GHG) emissions by 5.2 per cent below their 1990 level. This objective was to be achieved by 2008 to 2012. The Clean Development Mechanism (CDM) was promoted by Brazil in Kyoto. The CDM defines the mechanism by which investment, technologies and practices from developed countries are implemented in developing country projects. It is then possible to credit the emissions avoided by these projects against the supplier's own commitment to reducing GHG. An essential element of good business practice for the private sector and programs sponsored by the government in Brazil is sound environmental management. The Brazilian Federal Government, research institutes and few leading private companies are concerned with the climate change market. Climate change and environmental efficiency projects in Brazil are frequently funded by international financial institutions (IFIs), namely the World Bank, the Inter-American Development Bank (IDB), and the Canadian International Development Agency (CIDA). International partners who can help in obtaining IFIs funds are sought after by Brazilian companies. Before entering the Brazilian market, Canadian entrepreneurs should examine all aspects of exporting environmental equipment. Some investment in Brazil might be required to achieve long term penetration of the market. Since national companies are offered preferential treatment for obtaining government contracts, a local partner is almost indispensable. The cost of doing business in Brazil might even be increased when considering the import taxes, such as federal excise taxes, state value-added taxes, and the merchant marine tax. Brazil can represent a springboard to the South American markets due to its membership in trade groups like the Mercosul and the Latin American Integration Association (ALADI). 14 refs

Changing market values? Tensions of contradicting public management discourses

DEFF Research Database (Denmark)

Plotnikof, Mie

2016-01-01

that the discursive tensions between such value-laden practices indicate a changing marketization associated with collaboration and trust, yet also competition. Research limitations/implications To research it becomes critical to advance theoretical and empirical knowledge on the constitutive effects of such complex......The purpose of this paper is to address studies of New Public Governance (NPG) as a post-New Public Management (NPM) tendency. Although NPG is considered a contrast to NPM and its market incentives, it argues that the practices emerging in tensions of NPM and NPG discourses indicate not a clear......-cut shift away from NPM, but rather changes that combine competition with collaboration and trust. Design/methodology/approach It offers a discourse approach to advance the theorizing and empirical unfolding of the tensions of contradicting, yet co-existing discourses of NPM and NPG and their effects...

The Changing Nature of Theory and Practice in Marketing: on the Value of Synchrony

OpenAIRE

O'Driscoll, Aidan; Murray, John

1998-01-01

Any academic discipline with a closely associated area of professional endeavour is profoundly affected by the relationship between its theory and practice. Synchrony in theory and practice adds value to the management of enterprise and to the advance of the discipline. Mindful of this assertion, this article explores the changing nature of theory and practice in marketing. It examines current trends in marketing practice which are occurring as a result of change in markets, technology and or...

Lagged life cycle structures for food products: Their role in global marketing, their determinants and some problems in their estimation

DEFF Research Database (Denmark)

Baadsgaard, Allan; Gede, Mads Peter; Grunert, Klaus G.

cycles for different product categories may be lagged (type II lag) because changes in economic and other factors will result in demands for different products. Identifying lagged life cycle structures major importance in global marketing of food products. The problems in arriving at such estimates...

The international gas markets. Of major changes and challenges for Europe

International Nuclear Information System (INIS)

Westphal, Kirsten

2014-01-01

Already in the 2010 edition of its World Energy Outlook the World Energy Agency noted an unprecedented degree of uncertainty surrounding the international energy markets. The rate of change in these markets is indeed stupendous, posing formidable tasks to business companies as well as the political leadership. The European gas markets face new challenges in protecting their security of supply which stem from the combined effects of the shift of LNG trade flows into the Pacific region, decreasing rates of home production and the ongoing transformation process within the EU.

75 FR 52378 - International Product Change-United States Postal Service Inbound Market-Dominant Multi-Service...

Science.gov (United States)

2010-08-25

... POSTAL SERVICE International Product Change--United States Postal Service Inbound Market-Dominant... Inbound Market-Dominant Multi- Service Agreements to the Market-Dominant Products List pursuant to 39 U.S... the Postal Regulatory Commission to Add Market-Dominant Multi-Service Agreements with Foreign Postal...

Malaria healthcare policy change in Kenya: implications on sales and marketing of antimalarials.

Science.gov (United States)

Ngure, Peter K; Nyaoke, Lorraine; Minja, David

2012-03-01

Malaria healthcare policy change in Kenya aimed at improving the control of malaria but faced a number of challenges in implementation related to marketing of the drugs. This research investigated the effect of the change of the national malaria policy on drug sales and strategic marketing responses of antimalarial pharmaceutical companies in Kenya. A descriptive cross-sectional design was employed to describe the existing state of antimalarials market in Kenya after the change of the malaria healthcare policy. Policy change did result in an increase in the sales of Coartem®. Novartis Pharma recorded a 97% growth in sales of Coartem® between 2003 and 2004. However, this increase was not experienced by all the companies. Further, SPs (which had been replaced as first-line therapy for malaria) registered good sales. In most cases, these sales were higher than the sales of Coartem®. Generally, the sales contribution of SPs and generic antimalarial medicines exceeded that of Coartem® for most distributors. The most common change made to marketing strategies by distributors (62.5%) was to increase imports of antimalarials. A total of 40% of the manufacturers preferred to increase their budgetary allocation for marketing activities. In view of the fact that continued sale of SP drugs and limited availability of AL poses the risk of increasing the incidence of malaria in Kenya, it is therefore, recommended that pharmacy surveillance systems be strengthened to ensure drugs that have been rendered non-viable or that prescription-only medicines are not sold contrary to the national guidelines.

The Role of Markets and Governments in Helping Society Adapt to a Changing Climate

International Nuclear Information System (INIS)

Mendelsohn, R.

2006-01-01

This paper provides an economic perspective of adaptation to climate change. The paper specifically examines the role of markets and government in efficient adaptation responses. For adaptations to be efficient, the benefits from following adaptations must exceed the costs. For private market goods, market actors will follow this principle in their own interest. For public goods, governments must take on this responsibility. Governments must also be careful to design institutions that encourage efficiency or they could inadvertently increase the damages from climate change. Finally, although in a few cases actors must anticipate climate changes far into the future, generally it is best to learn and then act with respect to adaptation

Looking Back on the Stock Market

Institute of Scientific and Technical Information of China (English)

无

2007-01-01

@@ Looking back at the ups and downs of China's stock market in 2007,it is clear that it has developed far beyond people's expectation. While the stock index constantly reaches new highs and the size of the market becomes larger and larger, the Chinese financial market has also reintegrated. A multi-level revolution occurred in 2007, involving changes in stock structure, the variety of core composition, chip cost of the capital market, investor makeup, as well as trade rules and operational methods.

77 FR 47472 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Approving Proposed Rule Change...

Science.gov (United States)

2012-08-08

... proposed rule change to make certain amendments that, in part, clarified the operation of the new Market... equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market...-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Approving Proposed Rule Change, as Modified by...

Structure, control and regulation of the formal market for medicinal plants' products in Nigeria.

Science.gov (United States)

Oguntade, Adegboyega E; Oluwalana, Isaac B

2011-01-01

There are informal and formal markets for medicinal plants' products in Nigeria. The formal market is subject to the national regulatory framework for Food and Drug Administration and Control. It is relatively new and underdeveloped. This study was designed to appraise this market with special emphasis on the market participants, market structure, marketing functions performed, conduct of sellers in the market and; standards and regulations to which the market is subject. Information used for this study was collected through personal interviews and interactions with key participants in the market; especially the officials of regulatory agency. The market structure was analysed in terms of the share of market controlled by participants and product types. Concentration Ratios (CR2 and CR4) were used to assess the market share. Marketing functions being performed were described in terms of the exchange, physical and facilitating functions while the conduct was described in terms of pricing and promotional strategies. The regulatory framework under which the market operates was appraised. The market was highly concentrated with a CR2 and CR4 of 58.5% and 80.8 %; respectively. Imported products accounted for only 12.3% of the market. The predominant modes of presentation of the product were capsule (41.6%) and liquid (36.2%). About 20.77% of the products were classified as multivitamins, 13.85% were antibiotics while 10.77% addressed sexual dysfunctional problems. These products were regulated under the Food and Drug Administration and Control (NAFDAC) decrees, 1993-1999. Only 2.3% of the products have received full registration status while the others were only listed.

An Interdisciplinary Analysis of Physical-spatial Changes in Contemporary Markets and Business Centers of Iran with an Emphasis on Religious Texts

Directory of Open Access Journals (Sweden)

M. M. Raeesi

2016-05-01

Full Text Available In this research this question is addressed: are the physical-spatial changes in contemporary markets of Iran, as a pioneer in promoting the noble values of Islam, in accordance with Islamic principles and values? In this article, through an analysis of religious texts, using qualitative content analysis, four physical-spatial indicators are deduced for markets; these indicators include the need to mention spiritual truths in physical-spatial structure of market, avoiding the collective social spaces in the market, the alignment of physical market patterns with Islamic identity, and locating the market in meta-local situations. An interdisciplinary analysis was carried out which indicated that the decline in these indicators in contemporary markets is rooted in the contemporary intellectual foundations of the West, whose economic impacts have resulted in the liberal capitalist economic system; one of the most important features of this system is the promotion of the culture of consumerism and a decline in Islamic physical-spatial indicators in contemporary markets, which is in accordance with the requirements of this culture.

Forms of Market and Competition in the Contemporary Economics. Theoretical Aspect

Directory of Open Access Journals (Sweden)

Ryszard Zabrzewski

2007-10-01

Full Text Available In the article author analyses the subjective structures of markets (as abstract notion. Bases of these structures are quantitative criteria. The main mechanism which changes these structures is the non-perfect competition. Twenty years ago M.E. Porter, the famous American economist, was formulated a concept of new stage of market rivalry. Above the article, the author makes a critical remark on Porters concept of market competition.

Dependence structure of the commodity and stock markets, and relevant multi-spread strategy

Science.gov (United States)

Kim, Min Jae; Kim, Sehyun; Jo, Yong Hwan; Kim, Soo Yong

2011-10-01

Understanding the dependence structure between the commodity and stock markets is a crucial issue in constructing a portfolio. It can also help us to discover new opportunities to implement spread trading using multiple assets classified in the two different markets. This study analyzed the dependence structure of the commodity and stock markets using the random matrix theory technique and network analysis. Our results show that the stock and commodity markets must be handled as completely separated asset classes except for the oil and gold markets, so the performance enhancement of the mean-variance portfolio is significant as expected. In light of the fact that WTI 1 month futures and four oil-related stocks are strongly correlated, they were selected as basic ingredients to complement the multi-spread convergence trading strategy using a machine learning technique called the AdaBoost algorithm. The performance of this strategy for non-myopic investors, who can endure short-term loss, can be enhanced significantly on a risk measurement basis.

Social marketing of condoms: selling protection and changing behavior.

Science.gov (United States)

Townsend, S

1991-06-01

Social marketing of condoms in Zaire began in 1987 and sales rose to 8 million in 1990, a notable change from the previous situation where about half a million condoms were distributed by government health clinics only. Social marketing is the use of for-profit sales and marketing techniques for public health problem.s When the Zaire National AIDS Committee initiated social marketing of condoms, with the assistance of Population Services International, they had the experience of successful Asian programs of the 1970s, and the political sanction resulting from the AIDS threat to back them up. Efforts were made to find just the right product name, "Prudence," logo, package, color and slogan by consumer research. Prudence implies responsible behavior, capturing both the AIDS and STD prevention and the family planning markets. Consumers like the package and associate it with quality, since most condoms sold before in Zaire had no special packaging. Distribution outlets include 7000 retail shops, groceries, pharmacies, hotel, social clubs, 300 bars and even Congo River barges which sex workers frequent. The price was set close to that of a pack of gum for 3, or that of a bottle of beer for a dozen. Promotion is limited by a government ban of advertising in mass media, so point of purchase materials, special offers and promotional items are being used. Prudence condoms are now being marketed in Cameroon and Burundi.

THE CONCEPT AND ESSENCE, THE STRUCTURE OF REAL ESTATE MARKET

Directory of Open Access Journals (Sweden)

Edgar V. Hovsepyan

2015-01-01

Full Text Available With the help of the international research literature, and the legislative framework of the Russian Federation and the Republic of Armenia in the article reveals the basic concepts and the essence of the real estate market, as well as given the classification of real estate. Thoroughly explains the difference between the concepts of "real estate" and "real property". In the article considered the main elements which includes the structure of the real estate market.

The Market Myth

Directory of Open Access Journals (Sweden)

Tomas Björkman

2016-05-01

Full Text Available The Market can be understood as a self-organizing system that is constantly evolving. Like all social institutions, it is governed by principles and rules created by society, not by any universal laws of nature. If it does not work the way we want it to, we have the power and freedom to change its rules. However, prevailing notions about the market are veiled in myth. Many have argued that there is a vast gap between economic models of how the market is assumed to work and how it actually functions, but there is also a gap between the way it now functions and alternative possible ways it could be structured to more effectively promote social welfare and equity. ‘Unveiling the myth’ is therefore necessary to alter its enduring influence on us, for the betterment of humanity. Some have referred to this myth as ‘neoliberalism’, but this is not the emphasis here. The point, rather, is to show that understanding theories and models of the market in terms of the seven myths discussed in this article allows us to change the constitutive rules of the market and radically improve the pre-distribution of social benefits while preserving the dynamic freedom of the market, thus limiting the need for regulating rules.

The surveillance of the electricity wholesale market and emission trading market

International Nuclear Information System (INIS)

Luedemann, Volker

2015-01-01

The Regulation on Wholesale Market Integrity and Transparency (REMIT) and the German Law on the Establishment of a Market Transparency Office for Wholesale Trade in Electricity and Gas (MTS-G) have fundamentally changed the surveillance of electricity wholesale trade in Germany. From now on the Federal Network Agency and the Federal Cartel Office will be jointly responsible for monitoring the electricity wholesale trade for suspicious market phenomena and abusive behaviour. The REMIT specifies that the electricity trade must be surveilled ''with due consideration to interactions'' with the emission trade system. However, occurrences observed in recent years have shown that the emission trading system is in need of reform. This has also been recognised and has prompted extensive corrective action by the regulatory authorities of the European Union. These changes have yet to be transposed into the national surveillance regimes. The present article explains why the new role accorded to the Federal Network Agency under the REMIT fails to eliminate the structural shortcomings of the old surveillance system. At least the decision to put the collection and evaluation of data exclusively in the hands of the market transparency office and the cooperation this will prompt between the supervisory authorities responsible will make the task of surveilling the energy wholesale trading market a lot easier for the authorities. The energy transition and its exigencies will yet lead to further changes in the market and its surveillance regime.

Competition of two supply chains with different risk structures: applying market research option

Directory of Open Access Journals (Sweden)

A. Hafezolkotob

2012-01-01

Full Text Available Demand uncertainty obliges all participants through a supply chain to make decisions under uncertainty. These decisions extend across price, investment, production, and inventory quantities. We take account of competition between two supply chains under demand uncertainty. These chains internally are involved in vertical pricing competition; however, they externally participate in horizontal pricing and service level competitions by offering a single-type product to the market. Since firms may have various attitudes against demand uncertainty and its related risks, different risk structures for competitive supply chains are considered. We assume that risk-averse firms are able to decrease demand uncertainty by information gathered from market research. For risk-averse participants in a chain, market research investment is an appropriate ground for vertical coordination, which diminishes risk through a supply chain. Optimal strategies based on game theory are obtained for different risk structures; furthermore, for each structure the effects of risk sensitivity as well as market research efficiency on these optimal strategies are investigated. Finally, we propose two scenarios for information sharing between risk-averse participants.

Transfer of single farm payment entitlements to farm successors: impact on structural change and rental prices in Switzerland

Directory of Open Access Journals (Sweden)

Gabriele Mack

2013-09-01

Full Text Available This paper analyses the impact of tradable and non-tradable single farm payment (SFP entitlements for farm successors on structural change and the lease market. Using the example of Swiss agriculture, the effects on rental-price trends and farm-exit rates are investigated. An ex-ante normative impact analysis is performed with the agent-based agricultural-sector model SWISSland, which simulates structural change processes and income trends in Swiss agriculture over a period of up to 15 years. A land market implemented at municipality level simulates the plot-by-plot leasing of land to surrounding neighbouring agents that is common in Switzerland. Allocation of plots to tenants as well as lease pricing is modelled taking into account the farm-specific land rents. The results show that personalised SFP entitlements which could not be transferred to a farm successor not only cause an intensification of structural change, but would also thus lead to a substantial reduction in rental prices. SFP entitlements which were successfully transferred to farm successors have only a slight impact on structural change and the rental prices of arable land. Only for grassland in the mountain region does a stronger shift result in a significant reduction in rental prices.

Ownership structure and market power in the nordic power market

International Nuclear Information System (INIS)

Amundsen, E.S.; Bergman, L.

1999-01-01

The opening of Nord Pool in 1996 seriously constrained the power companies' ability to exercise market power within their national borders. Currently there is an integration process going on among the power companies in the Nord Pool area. It manifest itself in terms of take-over and reciprocal acquisition of shares in the power companies - nationally and abroad. This process may undo what the introduction of the common power market achieved in curtailing market power. The aim of this paper is to investigate the effects on market power of increased cross- ownership in the Nordic power market. (au)

Market structure, financial intermediation and riskiness of banks:Evidence from Asia Pacific

OpenAIRE

Soedarmono , Wahyoe; Tarazi , Amine

2014-01-01

From a sample of commercial banks in Asia Pacific over the 1994-2009 period, this study highlights that banks in less competitive markets exhibit lower loan growth and higher instability. Such instability is further followed by a decline in deposit growth, suggesting that Asian banks are also subject to indirect market discipline mechanisms through bank market structure. This study therefore sheds light on the importance of enhancing bank competition to overcome bank risk and strengthen finan...

Electricity market 2001

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-09-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment.

Electricity market 2001

International Nuclear Information System (INIS)

2001-09-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have had a common electricity market since 1996. The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition, to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the 'Electricity market 2001' publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic market. Iceland is not included in the description. The publication also includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment. The publication contains data on electricity generation and use during the past years, structure of the electricity market, trade in electricity in the Nordic countries and northern Europe, electricity prices in the Nordic countries and other countries as well as impact of electricity generation system on the environment

Market concentration trends in South Africa’s private healthcare sector

Directory of Open Access Journals (Sweden)

Marine Erasmus

2016-03-01

Full Text Available The Competition Commission (CC commenced with an enquiry into South Africa’s private healthcare sector at the beginning of 2014, the outcome of which could have far-reaching consequences for the medical industry in South Africa. The panel appointed to consider competition in the private healthcare sector has indicated that they are interested in understanding increased consolidation in the private hospital market and the effect this may have on competitive dynamics. This article considers historical concentration trends in the private hospital market from 2000 to 2012. In addition it also deals with changes in market structure in the medical scheme and administrator markets. These trends provide a complete picture of market structure changes and the implications for relative bargaining power of the various parties. It finds that whereas the market concentration of private hospitals has remained relatively stable since 2004, the market concentration of medical schemes and administrators has increased over this period.

Linkages between the markets for crude oil and the markets for refined products

International Nuclear Information System (INIS)

Didziulis, V.S.

1990-01-01

To understand the crude oil price determination process it is necessary to extend the analysis beyond the markets for petroleum. Crude oil prices are determined in two closely related markets: the markets for crude oil and the markets for refined products. An econometric-linear programming model was developed to capture the linkages between the markets for crude oil and refined products. In the LP refiners maximize profits given crude oil supplies, refining capacities, and prices of refined products. The objective function is profit maximization net of crude oil prices. The shadow price on crude oil gives the netback price. Refined product prices are obtained from the econometric models. The model covers the free world divided in five regions. The model is used to analyze the impacts on the markets of policies that affect crude oil supplies, the demands for refined products, and the refining industry. For each scenario analyzed the demand for crude oil is derived from the equilibrium conditions in the markets for products. The demand curve is confronted with a supply curve which maximizes revenues providing an equilibrium solution for both crude oil and product markets. The model also captures crude oil price differentials by quality. The results show that the demands for crude oil are different across regions due to the structure of the refining industries and the characteristics of the demands for refined products. Changes in the demands for products have a larger impact on the markets than changes in the refining industry. Since markets for refined products and crude oil are interrelated they can't be analyzed individually if an accurate and complete assessment of a policy is to be made. Changes in only one product market in one region affect the other product markets and the prices of crude oil

Driving Change in the research and HE information market

NARCIS (Netherlands)

Roosendaal, Hans E.

2004-01-01

This paper considers the concept of a federated network of repositories of information for research and higher education, and discusses the main engines for change in that market using availability and use of information as parameters. The value chain is used as an analytical instrument in

Prospects for the U.S. energy and refining industries: Markets, profitability and key drivers for change

International Nuclear Information System (INIS)

Burke, B.F.

1996-01-01

The US refining industry has experienced an extended period of change covering the past 20 years. Growing regulatory requirements, combined with shifting market characteristics, have resulted in massive investments and significant and ongoing structural change. Despite excellent capacity utilization, recent profitability has been poor. Industry psychology can be described as depressed, with honest concern about the long-term attractiveness of domestic refining as an area for continued participation and investment. This paper provides an overview of how the industry arrived at these levels of poor profitability, examines the current situation and future drivers, and presents Chem Systems' views on the outlook for domestic refining

Market size and vertical structure in the rail way industry

OpenAIRE

Matsushima, Noriaki; Mizutani, Fumitoshi

2011-01-01

We provide a theoretical framework to discuss the relation between market size and vertical structure in the railway industry. The framework is based on a simple downstream monopoly model with two input suppliers, labor forces and the rail infrastructure firm. The operation of the downstream firm (i.e., the train operating firm) generates costs on the rail infrastructure firm. We show that the downstream firm with a larger market size is more likely to integrate with the rail infrastructure f...

Russia at GHG Market

International Nuclear Information System (INIS)

Golub, A.; Strukova, E.

2004-01-01

In the first Kyoto commitment period Russia could be the major supplier for the greenhouse gases (GHG) emissions market. Potential Russian supply depends on the ability of Russia to keep GHG emissions lower than the Kyoto target. In the literature there is no common understanding of the total trading potential of Russia at the international carbon market. In this paper we focus on CO2 emission, which constituted nearly 80% of Russian GHG emission. We compare different projections of Russian CO2 emission and analyze the most important factors, which predetermine the CO2 emission growth. In a transition economy these factors are: Gross Domestic Product (GDP) dynamic, changes of GDP structure, innovation activity, transformation of export-import flows and response to the market signals. The input-output macroeconomic model with the two different input-output tables representing old and new production technologies has been applied for the analysis to simulate technological innovations and structural changes in the Russian economy during transition period. The Russian supply at the international GHG market without forest sector may be up to 3 billion metric ton of CO2 equivalent. Earlier actions to reduce CO2 emission are critical to insure the Russian supply at the international carbon market. With regard to the current status of the Russian capital market, the forward trading with OECD countries is only the possibility to raise initial investments to roll no-regret and low-cost GHG reduction. This paper discusses uncertainties of Russian CO2 emission dynamics and analyzes the different incentives to lower the emission pathway

Structural change and climate protection. How does climate policy change economics and working environment; Strukturwandel und Klimaschutz. Wie Klimapolitik Wirtschaft und Arbeitswelt veraendert

Energy Technology Data Exchange (ETDEWEB)

Blazejczak, Juergen [DIW Berlin (Germany). Abteilung Energie, Verkehr, Umwelt; Edler, Dietmar [Deutsches Institut fuer Wirtschaftsforschung, Berlin (Germany). Abteilung Innovation, Industrie und Dienstleistungen

2011-07-01

In order to curb the climatic change, the greenhouse gases in industrialized countries have to be reduced dramatically by the middle of this century. This strengthens the economic structural change. The contribution under consideration discusses the knowledge of the climate policy-induced structural transformation of economy and labor market in Germany. The actual state of information is limited. It is possible to identify sectors that either are burdened particularly by costs of avoidance or benefit from additional demand. Due to a variety of complex interdependencies employment effects only are tapped with great uncertainty. The additionally induced inter-sectoral structural change in employment lags behind the intra-sectoral adjustment demands. The requirements in qualification will increase more. Completely new skills are required. Necessarily additional qualifications often can be acquired by training. The correlations of forced climatic change policy with other aspects of job quality have not been studied systematically.

MEDIUM-TERM CHANGES IN THE STRUCTURE OF THE MONTHLY EARNINGS

Directory of Open Access Journals (Sweden)

Ion GHIZDEANU

2007-12-01

Full Text Available The paper represents a study of the labour market functionality through the employment degree and how much of the employment improvement is reflected in the wage revenues. The study is based on the analysis and forecast of the earnings structure by branches and regions and also by property forms, being structured in 4 chapters. Within the study the earning is analyzed starting from two reasons: first, the wage synthetically reflects the structural evolution of the labour market and, second, the wage conditions and influences the employment possibilities. An important part of the study is represented by the analysis of the correlation between employment and earnings, marking out some features. First, 2002-2006 represented the period with structural changes in employment, the wages evolution being independent of the economic context or of the labour market imbalances. Second, in regional and county profile the correlation between the employment structure and the evolution of the earnings is more lax than the national economy level. If for the regions the main explanation could be the structural homogeneity of the regional economies, at county level the determinant element is the economic gap. In the first years of the actual development cycle, even if the intercounty economic gaps have maintained or deepened, the improvement of the employment has adequately been reflected in the increase in the average wage revenues. The paper also presents some perspectives on the earnings structure, marking out the fact that until 2010 the gaps between regions – from the net average earnings point of view – will not significantly improve, but there will be created the conditions for a future decrease. This fact can be explained, on one hand, by the absorption of the community funds which will be more consistent after 2009 (it is about the project implementation, not the contract, and, on the other hand, because – in a first stage – the more developed

Аsymmetry of Structural Institutional and Technological Changes in Economy

Directory of Open Access Journals (Sweden)

Katkovа Marina Andreevna

2014-12-01

Full Text Available The article is devoted to the research on interrelation between institutional and technological changes. The authors provide the convincing argument in favor of the thesis on asymmetry of structural, institutional and technological changes. The complex of analytic methods is used in the work – comparative statics, static analysis, dynamic analysis. The analysis results in the conclusion on strengthening the heterogeneity, instability and uncertainty of the social and economic phenomena and processes. The authors comprehend structural changes as the changes in ratios and proportions of economic structure. They point to the emergence of new integrated characteristics and describe the synergetic effect of the general development. The use of the theory of technological modes allowed allocating radical and local shifts. The particular emphasis is placed on the analysis of reversible and irreversible structural and technological shifts as a special form of structural and technological changes. The application of the method of institutional statics and dynamics is effective in the analysis of technological and institutional symmetry / asymmetry. The emergence of negative institutional changes is explained by insufficient, inadequate or fragmentary assimilation of market institutes. The institutes interfering the innovative development stand against the institutes of innovative development. The institutional traps of structural and technological transformations are subdivided by authors into the traps of micro- and macrolevel. The authors point to the difficulty of assessing the institutes of microlevel by means of statistical data. They suggest using the phenomena which are under the control of authorities and subject to regulation as indicators. To define the opportunities of institutional management and the borders of government intervention the authors investigate in detail the institutional traps. They include moral and psychological unreadiness

Scope of strategic marketing

Directory of Open Access Journals (Sweden)

Bradley Frank

2004-01-01

Full Text Available Marketing is a philosophy that leads to the process by which organizations, groups and individuals obtain what they need and want by identifying value, providing it, communicating it and delivering it to others. The core concepts of marketing are customers needs, wants and values; products, exchange, communications and relationships. Marketing is strategically concerned with the direction and scope of the long-term activities performed by the organization to obtain a competitive advantage. The organization applies its resources within a changing environment to satisfy customer needs while meeting stakeholder expectations. Implied in this view of strategic marketing is the requirement to develop a strategy to cope with competitors, identify market opportunities, develop and commercialize new products and services, allocate resources among marketing activities and design an appropriate organizational structure to ensure the perform once desired is achieved.

Papers of the CAMPUT 2003 educational conference : Markets in Transition : The changing face of regulation

International Nuclear Information System (INIS)

2003-01-01

The North American energy landscape is evolving: markets are in transition and regulatory roles are shifting. Regulators, government policy makers, and industry representatives exchanged information concerning the changes facing regulatory agencies, industry and energy users. The eleven sessions of the conference were entitled: (1) the future of the regulator in a continental energy market, (2) gas markets in transition, (3) electricity markets in transition (including Regional Transmission Organization/Standard Market Design issues), (4) are open access markets the answer? (5) the changing face of regulation, what's up? (6) energy policy updates in British Columbia and Atlantic Canada, (7) Ontario electricity update and deregulation one year later, (8) northern issues, (9) intervener funding, (10) affiliate transactions, regulatory and business issues, and (11) cost of capital update. The conference featured 43 presentations, of which two were indexed separately for inclusion in the database

Traders’ Networks of Interactions and Structural Properties of Financial Markets: An Agent-Based Approach

Directory of Open Access Journals (Sweden)

Linda Ponta

2018-01-01

Full Text Available An information-based multiasset artificial stock market characterized by different types of stocks and populated by heterogeneous agents is presented and studied so as to determine the influences of agents’ networks on the market’s structure. Agents are organized in networks that are responsible for the formation of the sentiments of the agents. In the market, agents trade risky assets in exchange for cash and share their sentiments by means of interactions that are determined by sparsely connected graphs. A central market maker (clearing house mechanism determines the price process for each stock at the intersection of the demand and the supply curves. A set of market’s structure indicators based on the main single-assets and multiassets stylized facts have been defined, in order to study the effects of the agents’ networks. Results point out an intrinsic structural resilience of the stock market. In fact, the network is necessary in order to archive the ability to reproduce the main stylized facts, but also the market has some characteristics that are independent from the network and depend on the finiteness of traders’ wealth.

Market Structure and Market Access

OpenAIRE

Joseph Francois; Ian Wooton

2008-01-01

The authors examine an issue at the nexus of domestic competition policy and international trade, the interaction between goods trade and market power in domestic trade and distribution sectors. Theory suggests a set of linkages between service-sector competition and goods trade supported by econometrics involving imports of 22 OECD countries compared with 69 exporters. Competition in serv...

Markets, Climate Change and Food Security in West Africa

Science.gov (United States)

Brown, Molly E.; Hintermann, Beat; Higgins, Nathaniel

2009-01-01

West Africa is one of the most food insecure regions of the world. Sharply increased food and energy prices in 2008 brought the role of markets in food access and availability around the world into the spotlight, particularly in urban areas. The period of high prices had the immediate consequence of sharply increasing the number of hungry people in the region without boosting farmer incomes significantly. In this article, the interaction between markets, food prices, agricultural technology and development is explored in the context of West Africa. To improve food security in West Africa, sustained commitment to investment in the agriculture sector will be needed to provide some protection against global swings in both production and world markets. Climate change mitigation programs are likely to force global energy and commodity price increases in the coming decades, putting pressure on regions like West Africa to produce more food locally to ensure stability in food security for the most vulnerable.

Fractal markets: Liquidity and investors on different time horizons

Science.gov (United States)

Li, Da-Ye; Nishimura, Yusaku; Men, Ming

2014-08-01

In this paper, we propose a new agent-based model to study the source of liquidity and the “emergent” phenomenon in financial market with fractal structure. The model rests on fractal market hypothesis and agents with different time horizons of investments. What is interesting is that though the agent-based model reveals that the interaction between these heterogeneous agents affects the stability and liquidity of the financial market the real world market lacks detailed data to bring it to light since it is difficult to identify and distinguish the investors with different time horizons in the empirical approach. results show that in a relatively short period of time fractal market provides liquidity from investors with different horizons and the market gains stability when the market structure changes from uniformity to diversification. In the real world the fractal structure with the finite of horizons can only stabilize the market within limits. With the finite maximum horizons, the greater diversity of the investors and the fractal structure will not necessarily bring more stability to the market which might come with greater fluctuation in large time scale.

ANALYSIS OF THE EFFECT OF MARKET STABILITY FACTORS ON THE CHANGES IN SHARE PRICE

Directory of Open Access Journals (Sweden)

Виктор Геннадьевич Семенов

2013-09-01

Full Text Available According to fundamental analysis, share price tends to its intrinsic value. An appreciably large body of research has been devoted to foreign stock markets; meanwhile, the Russian stock market has been studied insufficiently. The hypothesis of fundamental analysis of the Russian stock market was tested in this paper. The effect of market stability factors (P/E; P/B; P/CF; P/D on changes in share prices was studied. The data from the financial reports on IFRS – GAAP and the data on share prices of 54 companies over the period of 2003–2013 were used. The results give grounds for claiming that the postulates of fundamental analysis cannot be used for the Russian stock market: the market stability factors do not correlate with the changes in share prices. Next, the possible reasons for this speculative behavior of the Russian stock market were considered. The methods for analyzing the reports and the financial and economic situation in order to determine the company value were proposed in this paper.DOI: http://dx.doi.org/10.12731/2218-7405-2013-9-5

Shaping forest safety nets with markets: Adaptation to climate change under changing roles of tropical forests in Congo Basin

International Nuclear Information System (INIS)

Nkem, Johnson; Kalame, Fobissie B.; Idinoba, Monica; Somorin, Olufunso A.; Ndoye, Ousseynou; Awono, Abdon

2010-01-01

Tropical forests hold several goods and services used by forest-dependent people as safety nets to traverse difficult periods of resource supply. These same goods and services are constantly surrounded by emerging markets linking remote communities with major urban centers nationally and internationally. How these markets affect adaptation remains unclear. This paper examines the roles of markets in non-timber forest products that normally serve as safety nets for forest communities, and the implications for climate change adaptation in the Congo Basin. Following the identification and prioritization of forest-based development sectors for adaptation by stakeholders, the types of markets and trades surrounding the identified sectors were examined in two provinces in the Democratic Republic of Congo as a case study in order to evaluate revenue flows and their potential contribution to adaptation by local communities. The distribution of the market revenue leaves local people with returns much lower than the worth of the commodity, while wholesalers and retailers reap most of the benefits and profit from the high variability in volume and market earnings for the same commodity across provinces. Markets may increase the value of a commodity as observed in this study, but their contributions to adaptation appear highly limited for local communities following their distribution among the stakeholders in the market chain. This is likely to be worse in free market settings, especially when it diminishes the safety net roles of forest goods and services. Markets should therefore complement rather than substitute forests roles for adaptation to climate change in tropical forest countries. Capturing the benefits of trade for adaptation is crucial but will require policy reforms and further research that addresses the complexity in benefit sharing.

PATENTS, R&D, AND MARKET STRUCTURE IN THE U.S. FOOD PROCESSING INDUSTRY

OpenAIRE

Gopinath, Munisamy; Vasavada, Utpal

1999-01-01

This study investigates the effects of market structure and research and development (R&D) on the innovation activities of firms. Fixed and random effects count data models are estimated with firm-level data for the U.S. food processing industry. Results show a positive association between patents and R&D, and patents and market structure, suggesting that firms which exhibit noncompetitive behavior are likely to develop new products and processes. Significant intra-industry spillovers of know...

China’s Flawed Banking Market Structure Must be Rectified

Institute of Scientific and Technical Information of China (English)

于永臻

2007-01-01

There is great disparity between China’s banking management efficiency and the top international standard,with relatively low efficiency in credit monetary allocation.In this paper,Yu Yongzhen sets out the hypothesis that"medium-sized banks promote competition".He believes that an important reason for the low efficiency of Chinese banking is the seriously flawed banking market structure.Namely,credit market shares are highly concentrated in the hands of the four major state-owned banks,with very few shares held by medium-sized banks or the badly undeveloped small banks.Full development of medium-sized banks plays a key role in the promotion of competition and efficiency in banking.

Organisational Structure & Change

Science.gov (United States)

National Centre for Vocational Education Research (NCVER), 2006

2006-01-01

Structural change is seen as a way to meet the challenges of the future that face many organisations. While some writers agree that broad-ranging structural change may not always transform an organisation or enhance its performance, others claim that innovation will be a major source of competitive advantage to organisations, particularly when…

E-marketing and contemporary business

Directory of Open Access Journals (Sweden)

Ratković Milijanka

2007-01-01

Full Text Available Seems that internet use in business requires accomplishing the higher level of cultural and structural changes in organizations. That is why many companies use both traditional and interactive way of doing business by developing appropriate level of integration to create useful differential advantages. Marketing oriented companies pay great importance in establishing marketing strategy overarching many of marketing elements including internet - an ideal communication means for progress of different levels of relationships to target group. Internet and other digital technologies as well, present base for realization of marketing demands of companies which want to stay competing on today s market. Defining and developing of marketing plan based on internet and other digital technologies is essence of electronic marketing concept, while establishing of optimal relation between e-marketing elements and elements of traditional concept of marketing depends on experience and knowledge of company management.

Back to the future? Understanding Change in Food Habits of Farmers' Market Customers

NARCIS (Netherlands)

Pascucci, S.; Cicatiello, C.; Franco, S.; Pancino, B.; Marinov, D.; Davide, M.

2011-01-01

This study analyses how attending farmers markets may affect consumers’ willingness to change food habits toward high-quality products. A discrete choice model was applied using data col-lected through an extensive field survey in 2009, which involved 400 consumers in 12 different farmers’ markets

A Model of Target Changes and the Term Structure of Interest Rates

OpenAIRE

Pierluigi Balduzzi; Giuseppe Bertola; Silverio Foresi

1993-01-01

We explore the effects of official targeting policy on the term-structure of nominal interest rates, adapting relevant insights from theoretical work on "peso problems" to account for realistic infrequency of target changes. Our analysis of daily U.S. interest rates and newly available historical targets provides an interpretation for persistent spreads between short-term money-market rates and overnight fed-funds targets, and for the poor performance of expectations-hypothesis tests: it is t...

Strategies for risk management using the paper markets

International Nuclear Information System (INIS)

Annesley, M.

1992-01-01

This paper briefly describes the significant milestones in the evolution of the oil markets, with emphasis on the reasons for the changing structures of the markets, and the roles of different types of participant. After explaining the current structure of the oil markets - futures - forwards - options and derivatives the paper then explains some basic strategies. Finally some of the favourite strategies of refiners, producers and end users will be explored. Some cautionary comments on deal tracking, control systems and other associated risk management requirements will round off this paper. (author)

Interdependencies between fossil fuel and renewable energy markets. The German biodiesel market

Energy Technology Data Exchange (ETDEWEB)

Busse, Stefan; Bruemmer, Bernard; Ihle, Rico

2010-12-15

With this paper, we provide the first quantitative investigation of vertical price transmission in the biodiesel supply chain in Germany with the focus on the developments during the food crisis and the impact of subsidized US biodiesel exports. With the strong promotion of the production and use of biodiesel during the first half of the past decade, the German biodiesel market became the largest national biodiesel market worldwide. This analysis utilizes prices of rapeseed oil, soya oil, biodiesel and crude oil over a sample period covering the rapid growth of the German demand in 2002 until its decline in 2009. The effects of both the market development and different policies on price transmission are analyzed in detail. Due to the numerous changes in the market, a regime-dependent Markov-switching vector error correction model is applied. The results indicate that regimes with differing error-correction behavior govern the transmission process among the various prices. Evidence was found for a strong impact of crude oil price on biodiesel prices, and of biodiesel prices on rapeseed oil prices. However, in both cases, the price adjustment behavior is found to be regime dependent, and the regime occurrence in both market segments shows similar patterns. In relation to crude oil a weak adjustment of biodiesel prices is found to be dominating in the phase of market expansion. This changed from 2007 on when stronger error-correction is found, reflected by a stronger role of the crude oil price developments. In the relationship of biodiesel to the vegetable oils, most of the growth period was dominated by a regime characterized by weak price adjustments. From 2007 on, past own price changes and past changes in soya oil prices had a strong impact particularly on rapeseed oil prices. The biodiesel price development was less important. Reasons for this are substantial changes in the market structure. The biodiesel market developed as an insulated market; biodiesel was

The impact of climate change on the electricity market. A review

International Nuclear Information System (INIS)

Mideksa, Torben K.; Kallbekken, Steffen

2010-01-01

Climate change will impact electricity markets through both electricity demand and supply. This paper reviews the research on this topic. Whereas there is much that remains unknown or uncertain, research over the last few years has significantly advanced our knowledge. In general, higher temperatures are expected to raise electricity demand for cooling, decrease demand for heating, and to reduce electricity production from thermal power plants. The effect of climate change on the supply of electricity from non-thermal sources shows great geographical variability due to differences in expected changes to temperature and precipitation. Whereas the research frontier has advanced significantly in the last few years, there still remains a significant need for more research in order to better understand the effects of climate change on the electricity market. Four significant gaps in the current research are regional studies of demand side impacts for Africa, Asia, the Caribbean and Latin America, the effects of extreme weather events on electricity generation, transmission and demand, changes to the adoption rate of air conditioning, and finally, our understanding of the sensitivity of thermal power supply to changes in air and water temperatures. (author)

Are South East Asia Countries Capital Markets Characterized by Nonlinear Structures? An Investigation from Indonesia, Philippine and Singapore Capital Market Indices

OpenAIRE

Minarnita Yanti Verawati Bakara; Bambang Hermanto

2014-01-01

This research paper tries to detect the nonlinear structure in the South East Asia Countries Capital Markets. The capital markets of three South East Asia Countries are chosen: Indonesia, Philippine, and Singapore. Daily return data of Capital Markets composite indices are observed: Straits Times Index (STI) of Singapore Exchange from January 04, 1985 to December 31, 2007, Pilipino Stock Exchange Index (PSEi) of Philippines Stock Exchange from March 1, 1990 to December 31, 2007 and Jakarta Co...

Papers of the CAMPUT 2003 educational conference : Markets in Transition : The changing face of regulation

International Nuclear Information System (INIS)

2003-01-01

The North American energy landscape is evolving: markets are in transition and regulatory roles are shifting. Regulators, government policy makers, and industry representatives exchanged information concerning the changes facing regulatory agencies, industry and energy users. The eleven sessions of the conference were entitled: (1) the future of the regulator in a continental energy market, (2) gas markets in transition, (3) electricity markets in transition (including Regional Transmission Organization/Standard Market Design issues), (4) are open access markets the answer? (5) the changing face of regulation, what's up? (6) energy policy updates in British Columbia and Atlantic Canada, (7) Ontario electricity update and deregulation one year later, (8) northern issues, (9) intervener funding, (10) affiliate transactions, regulatory and business issues, and (11) cost of capital update. The conference featured 43 presentations, of which two were indexed separately for inclusion in the database. refs., tabs., figs

Tesco Law and Tesco Lawyers: Will our Needs Change if the Market Develops?

Directory of Open Access Journals (Sweden)

Avrom Sherr

2013-07-01

Full Text Available The purpose of this paper is to examine how recent regulatory changes, and the on-going effects of the global economic crisis, have affected legal services in England and Wales, and asks if there are, consequently, “too many lawyers”. The Legal Services Act 2007 introduced new regulatory priorities, placing greater emphasis on competition within a market for legal services, and introducing “Alternative Business Structures”, which enable non-lawyers to own or manage bodies providing legal services, or to carry out reserved legal activities within a licensed body. The paper speculates about the effects of a changing market, illustrated with emerging examples. Whether or not there are too many lawyers depends on who is regarded as a lawyer, what tasks a lawyer should carry out, the structure of the market for legal services, and the needs of legal "consumers". El objetivo de este artículo es analizar cómo los cambios recientes en la regulación y los efectos continuados de la crisis económica global, han afectado a los servicios legales en Inglaterra y Gales, y cuestiona si, consecuentemente, hay “demasiados abogados”. La ley conocida como “Legal Services Act 2007” introdujo nuevas prioridades reguladoras, otorgando mayor énfasis a la competencia en el mercado de los servicios legales, e introduciendo “Estructuras Alternativas de Negocio”, lo que permitía, sin ser abogado, poseer o gestionar empresas de servicios legales, o desarrollar actividades legales reservadas a un órgano colegiado. El artículo especula sobre los efectos de un mercado cambiante, a través de ejemplos emergentes. Si hay demasiados abogados o no, depende de lo que se entiende como abogado, las tareas que un abogado debería desarrollar, la estructura del mercado de servicios legales, y las necesidades de los “consumidores” legales.

EMISSIONS FROM INDIRECT LAND USE CHANGE: DO THEY MATTER WITH FUEL MARKET LEAKAGES?

Directory of Open Access Journals (Sweden)

Dušan Drabik

2013-09-01

Full Text Available Indirect land use change, an agricultural market leakage, has been a major controversy over the Environmental Protection Agency’s (EPA requirement for corn-ethanol to reduce greenhouse gas (GHG emissions by 20 percent relative to gasoline it is assumed to replace. This paper shows that corn-ethanol policies generate far greater carbon leakage in the fuel market itself. Hence, corn-ethanol does not meet EPA’s threshold, regardless of ethanol policy and whether one includes emissions from land use change.

Assessing socioeconomic impacts of climate change on U.S. forests, wood-product markets, and forest recreation

Science.gov (United States)

Lloyd C. Irland; Darius Adams; Ralph Alig; Carter J. Betz; Chi-Chung Chen; Mark Hutchins; Bruce A. McCarl; Ken Skog; Brent L. Sohngen

2001-01-01

In this paper we discuss the problems of projecting social and economic changes affecting forests and review recent efforts to assess the wood-market impacts of possible climate changes. To illustrate the range of conditions encountered in projecting socioeconomic change linked to forests, we consider two markedly different uses: forest products markets and forest...

The effect of differentiated margin on futures market investors' behavior and structure An experimental research

Institute of Scientific and Technical Information of China (English)

Jin-hui Luo; Di-fang Wan; Yang Yang; Guang Yang

2011-01-01

Purpose-The purpose of this paper is to empirically analyze the role of differentiated margin system in leading investors' investing behavior and then optimize investor structure in futures markets.Design/methodology/approach-Using economic experimental research method,this paper designs and conducts a futures market experiment according to experimental research's basic norms,thus acquiring needed and credible empirical data.Findings-By analyzing the experimental data,it is found that compared with situations in futures markets that implement uniform margin system,investors' (especially speculators') futures open position and the ratio of their open position and futures turnover are both significantly higher,in futures markets that implement differentiated margin system.On the other hand,differentiated margin system has no effects on hedgers' futures turnover,but significantly reduces speculators' futures turnover.Research limitations/implications-The findings suggest that compared with uniform margin system,differentiated margin system is beneficial to effectively restrict both speculators' and hedgers' speculating behavior and lead hedgers' market participation.Practical implications-In order to resolve the problem of unreasonable investor structure in China's futures market,i.e.lack of hedgers and over-speculating China's futures market's regulators should reform the margin system and adopt differentiated margin system to lead investors' rational behavior and optimize investor structure.Originality/value-This paper empirically analyzes and verifies,for the first time,the roles of differentiated margin system in affecting investors' investing behavior.The futures market experiment designed and used in this study is a pioneering and exploratory experiment.

The paradigm change in international natural gas markets and the impact on regulation

International Nuclear Information System (INIS)

Van der Linde, Coby; Correlje, Aad; De Jong, Jacques; Toenjes, Christoph

2006-04-01

CIEP was strongly involved in the preparation of the discussions on the regulation of gas markets at the World Gas Conference in Amsterdam, 6-9 June 2006. CIEP's new study on gas market regulation served as the starting note for the strategic panel discussion 'The art of regulation'. It combines a theoretical foundation for the discussion on gas market regulation with the outcomes of a series of workshops, which addressed gas market regulation in various parts of the world. In particular, the authors aimed at examining whether changing circumstances in international gas markets require adaptations in current regulatory regimes.The study highlights that the regulation of gas markets, made up of elements such as international agreements, licensing and permitting procedures, competition policy, consumer protection and network access regulation, needs to take the specific regional circumstances of the gas market in question into account. There is no 'one size fits all' solution that is applicable to all gas markets in order to bring about the investments necessary

Changes in Chinese Education under Globalisation and Market Economy: Emerging Issues and Debates

Science.gov (United States)

Guo, Shibao; Guo, Yan; Beckett, Gulbahar; Li, Qing; Guo, Linyuan

2013-01-01

Fuelled by forces of globalisation, China has gradually shifted from a centrally planned economy to the "socialist market economy". This study examines changes in Chinese education under globalisation and market economy, focusing on the teaching and living conditions of teachers. The study reveals that the profound transformation of…

Competition as an Effective Tool in Developing Social Marketing Programs: Driving Behavior Change through Online Activities

Directory of Open Access Journals (Sweden)

Corina ŞERBAN

2011-12-01

Full Text Available Nowadays, social marketing practices represent an important part of people’s lives. Consumers’ understanding of the need for change has become the top priority for social organizations worldwide. As a result, the number of social marketing programs has increased, making people reflect more on their behaviors and on the need to take action. Competition in social marketing can bring many benefits. The more programs initiated, the more people will start to involve in society’s problems, hereby contributing to beneficial causes. However, social organizations are in the search for competitive advantages to differentiate them on the market. This paper aims to present the role of online communication in driving competitive advantage for social organizations. Using the structural equation model, the paper describes the relations between four characteristics of the online communication: credibility, attractiveness, persuasion and promotion and then presents the correlations between these variables and website competitiveness. The resulting model shows that owning a competitive advantage in social marketing can bring many advantages to both the non-profit organization and the consumer. Therefore, the online environment can be considered a good solution for better serving consumers’ social needs. Its contribution is significant especially in programs for children and adolescents, since teenagers spend more time on the Internet than adults and are more open to using the online channels of communication. In conclusion, this article opens new opportunities for social marketers to address society’s problems and supports the integration of the online communication tools in the competition strategy.

Information acquisition and behavioral change: a social marketing application.

Science.gov (United States)

Golden, L L; Johnson, K

1991-01-01

Previous literature provides insight into the importance of beliefs and other intrapersonal variables for health-related information acquisition and behavioral change. The results of an empirical investigation evidence the unique strength of the role of core health beliefs for each of the multi-level measures. Directions for the development of effective marketing strategy are discussed.

Modelling the impact of market interventions on the strategic evolution of electricity markets

International Nuclear Information System (INIS)

Bunn, Derek W.; Oliveira, Fernando S.

2005-01-01

In this paper, we seek to develop some model-based insights into this two-stage dynamic process linking market interventions with individual company performance through strategic asset trading and structural change. Essentially, this is achieved with an evolutionary, agent-based, computational model that is capable of simulating how a Cournot player, by interacting with his opponents, can rationally adapt his generation portfolio in order to increase value. The functional capabilities of the proposed computational approach facilitate: 1) The study of asset portfolio adaptation as a result of rational choice. This cannot be achieved with a static Cournot model that, by construction, does not take into account endogenously the rational choice of the installed capacities and technologies used by the players. Further, this evolutionary computational model internalizes the ''path dependencies'' as one of the determinants of portfolio adaptation. 2) The analysis of market structure as an endogenous co-evolutionary process, enabling an adaptive view of the impact of short-term regulatory policies on the evolution of the industry's market structure. 3) The analysis of the behavioural implications f the rational adaptation of players to regulatory interventions. This analysis is carried-out by modelling how players trade their assets in order to improve the value of their portfolio. Our model therefore incorporates two main components: a plant trading game and an electricity market game. The plant trading game simulates the interaction between electricity companies that trade generation plants. The electricity market game simulates the performance of portfolios of plant in an electricity market assuming Cournot players. From this two-stage modelling platform, we analyze two sorts of anti-trust interventions: (a) the ''structural changes'' of enforced divestiture and (b) the ''behavioural remedies'' (sic Competition commission) of capacity availability requirements. We have

Relationship Marketing, Engine of Sustainable Development and Organisational Change in the Romanian Business Environment

OpenAIRE

Nicolae Al Pop; Mihaela Roman; Adina Săniuţă; Carmen Petrişoaia

2012-01-01

This paper aims to provide a conceptual clarification of the terms sustainable development and organisational change. It studies the role of relationship marketing for implementing these two concepts. The main objectives are the perception of the three concepts by Romanian business decision-makers and their ‘sensitivity’ to organisational changes, with regard to implementing the relationship marketing at company level. Information was gathered via exploratory research, using qualitative in-de...

Marketing strategies in financial crisis : with change in mobile phone technology

OpenAIRE

Shabbir, Rizwan; Ur Rehman, Attiq

2010-01-01

The financial crisis has affected every economy during the last decade thus under this changing environment that effect the marketing strategies and these strategies began to change according to the buying behavior of the people. In this research the consumer perspective is examined with the change in mobile phone technology. This is an industry of constant change and innovation in which manufacturers are continually developing new technologies for consumers. As the buying behavior of the con...

THE ANALYSIS OF COORDINATES SPECIFIC TO THE POTENTIAL OF A COMPANY MARKET

Directory of Open Access Journals (Sweden)

Ionel Gabriel Dobrin

2012-01-01

Full Text Available In the contemporary economy, it is easy to see that the market of a company is a dynamic market, subject to frequent changes. Across time, this market inside which companies act evolves from the point of view of its absolute and relative size, of the changes in its internal structure, as well as the change of its „physiognomy”.This dynamic evolution of the company market is mainly determined by the dynamics of the emergence and development background which characterizes the company as a whole.

RECOMMENDATIONS FOR THE DISTRIBUTION STRATEGY IN CHANGING MARKET ENVIRONMENT : Case: Belgian Brewery Van Honsebrouck in Russia

OpenAIRE

Louckx, Yulia

2014-01-01

The efficient distribution strategy formulation becomes vital to the success and survival of any organization, especially when it is involved in international trade. Today’s world is particularly challenging due to rapidly changing market conditions. Therefore, in order to able to compete, satisfy customers, and meet the needs of other stakeholders profitably, it is crucial for any company to make profound market environment analyses, react to changes in the market and adjust strategies accor...

Reforming British Columbia's electricity market: A way forward. Final report

International Nuclear Information System (INIS)

1998-01-01

This report begins with background on developments in electricity market structure and customer access, recent electricity market developments in British Columbia, factors driving change in that market, key elements of electricity market reform, and the work of the task force appointed to propose such reform. It then presents a consensus proposal for reform from the task force. The proposal has four major elements: Increasing customer access; transition toward a vertically de-integrated market structure; ensuring that social values associated with the existing electricity market are protected and enhanced; and environmental concerns (increasing energy efficiency and favoring the development of environmentally desirable electricity generation technologies). Finally, the proposals are evaluated against the task force terms of reference. Includes glossary

Service marketing

Directory of Open Access Journals (Sweden)

Babić-Hodović Vesna

2002-01-01

Full Text Available Development of postindustrial society and services revolution created numerous changes in size of consumer demand, consumer reaction and priorities. Continuous change on the side of demand and offer must follow changes in marketing orientation. Leader in that change is services marketing which by knowing services range and all the changes builds a new concept called Relationship Marketing.

Fast Change Point Detection for Electricity Market Analysis

Energy Technology Data Exchange (ETDEWEB)

Berkeley, UC; Gu, William; Choi, Jaesik; Gu, Ming; Simon, Horst; Wu, Kesheng

2013-08-25

Electricity is a vital part of our daily life; therefore it is important to avoid irregularities such as the California Electricity Crisis of 2000 and 2001. In this work, we seek to predict anomalies using advanced machine learning algorithms. These algorithms are effective, but computationally expensive, especially if we plan to apply them on hourly electricity market data covering a number of years. To address this challenge, we significantly accelerate the computation of the Gaussian Process (GP) for time series data. In the context of a Change Point Detection (CPD) algorithm, we reduce its computational complexity from O($n^{5}$) to O($n^{2}$). Our efficient algorithm makes it possible to compute the Change Points using the hourly price data from the California Electricity Crisis. By comparing the detected Change Points with known events, we show that the Change Point Detection algorithm is indeed effective in detecting signals preceding major events.

The power of the message – the key to success in social marketing campaign. An analysis of social marketing in Romania

Directory of Open Access Journals (Sweden)

Manuela EPURE

2011-03-01

Full Text Available The success of a social marketing campaign does not depend mainly on its budget but rather on the message that is sent. This article emphasize the importance of the message for successful social marketing campaigns and makes an analysis of the messages’ type/structure of leading social marketing campaigns in Romania, as a defining element contributing to the success of social marketing campaigns. Being aware of the importance of the message for a successful social marketing campaign, we propose, in this article, some ideas for improving the message structure transmitted in social marketing campaigns. Although, social marketing campaigns are run with significant funds, small importance is being given to evaluating campaign’s effectiveness and the extent to which the social behaviour of the targeted segments is truly changed. Research was conducted in order to identify the ways in which the use of other types of messages would increase the impact of social marketing campaigns.

Market structure, industrial organisation and technological development: the case of the Japanese electronics-based nc-machine tool industry.

OpenAIRE

Watanabe, S

1983-01-01

ILO pub-WEP pub. Working paper on the impact of market structure and business organization on technological change in the automatic control machine tool industry in Japan - based on a 1982 sample survey of 40 industrial enterprises, discusses research and development trends, demand, production, subcontracting, competition, etc.; investigates the impact of electronics Innovation on small scale industry, the international division of labour and on developing countries. Bibliography and graphs.

A resource-based theory of market structure and organizational form

NARCIS (Netherlands)

van Witteloostuijn, A.; Boone, C.A.J.J.

We argue that combining the insights from both the industrial organization and organizational ecology perspectives is likely to produce value added. We develop a resource-based theory of market structure, where resources pertain to the environmental assets (together forming the resource space)

Relationship Marketing, Engine of Sustainable Development and Organisational Change in the Romanian Business Environment

Directory of Open Access Journals (Sweden)

Nicolae Al. Pop

2012-06-01

Full Text Available This paper aims to provide a conceptual clarification of the terms sustainable development and organisational change. It studies the role of relationship marketing for implementing these two concepts. The main objectives are the perception of the three concepts by Romanian business decision-makers and their ‘sensitivity’ to organisational changes, with regard to implementing the relationship marketing at company level. Information was gathered via exploratory research, using qualitative in-depth interview based on a conversation guide. The conclusions of the study prove that the interlocutors have a relatively clear knowledge of the concepts, but without making a direct connection between sustainable development and major organisational changes triggered by implementing the relationship marketing. The authors recommend the development of a system which centralises all company connections with its stakeholders, to fully capitalise on its accumulated relational capital

Towards a Sociology of Teacher Labour Markets.

Science.gov (United States)

Robinson, Philip

1982-01-01

There is very little discussion of the structure of the teaching profession and the implications of that structure for the teacher's professional identity. A model of the teacher labor market is of importance to a theoretical understanding and to an appreciation of structural changes that face teachers in the future. (CJ)

Adjusting tourist destination marketing strategy according to the changes in the environment: Case study Bukovicka sSpa

Directory of Open Access Journals (Sweden)

Riznić Dejan T.

2014-01-01

Full Text Available Tourist destinations are compelled to create new business opportunities constantly in order to respond to the challenges that arise under the influence of a number of changes in the environment. Few of them are supporting the requirements for analyzing and creating a sustainable business and marketing strategies. The paper starts with the analysis of relevant theory and practice in decisionmaking and choosing the marketing strategy of the tourist destination, pointing to the importance of continuous adjustment of marketing strategy in order to improve the business performance and competitive advantage. A new approach to the design and management of market relations, as well as the need for adjusting marketing strategies to the changes in the environment, is presented in the case of Bukovacka Spa. In deciding, great emphasis is placed on the role and importance of innovation in marketing approaches as well as on the need to develop socially responsible marketing in order to improve its business performance and response to changes in the environment and more successfully positioning.

Agent-based model of intermittent renewables : Simulating emerging changes in energy markets in transition

NARCIS (Netherlands)

Chappin, E.J.L.; Viebahn, P.; Richstein, J.C.; Lechtenböhmer, S.; Nebel, A.

2012-01-01

The energy transition is taking shape in the German and, to a lesser extent also its neighbouring electricity markets. We have proposed adaptations to an existing model to represent the increasing shares of intermittent renewables, that may alter the structure of the market and the viability of

Analysis and modelling of the fuels european market

International Nuclear Information System (INIS)

Simon, V.

1999-04-01

The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

Electricity market 2000

Energy Technology Data Exchange (ETDEWEB)

Korsfeldt, T.; Petsala, B.

2000-08-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment.

Electricity market 2000

International Nuclear Information System (INIS)

Korsfeldt, T.; Petsala, B.

2000-08-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. Sweden, Norway and Finland have a common electricity market since 1996.The work of also reforming the Danish electricity market was begun in the year 2000. The objective of the electricity market reform is to introduce increased competition,to give the consumers greater freedom of choice and also, by open and expanded trade in electricity, create the conditions for efficient pricing. The Swedish National Energy Administration is the supervisory authority as specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and to regularly compile and report current market information. The purpose of the present publication is to meet the need for generalized and readily accessible information on the conditions on the Nordic markets.The publication includes summaries of information from recent years concerning electricity generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective trade in electricity in the Nordic countries and in Northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

Regulatory policy and structural change in the natural gas industry: A transaction cost perspective

International Nuclear Information System (INIS)

Sauer, D.G.

1991-01-01

The Federal Energy Regulatory Commission has recently promoted policy initiatives designed to substitute market responsive industry practices for the micro-management regulatory practices previously employed. These new policies are expected to generate a flexible gas pricing policy that more accurately reflects market supply and demand conditions. Historically, much of the regulation of this industry was enacted to ensure that pipeline companies would be able to recover the very large up-front investments in immobile equipment that characterize the production, transportation, storage, and distribution of natural gas. The institutional detail available from historical accounts of the development of the industry are used to describe structural change over time. Regulatory policy, the level of asset specificity, and the extent of secondary environmental uncertainty are all shown to exert significant effects on the level of integration into production, storage and marketing

Are we moving towards functioning agricultural markets and trade relations?

DEFF Research Database (Denmark)

Brosig, Stephan; Glauben, Thomas; Levkovych, Inna

2016-01-01

We introduce a special feature on the functioning of international agricultural markets. This feature is motivated by the increased interest in the functioning of commodity markets raised by unprecedented price turbulences since 2008, major structural changes through changed roles of emerging...... economies and related concerns regarding food security. We argue that the delineation of non-functioning markets from markets that adequately adjusted to adverse framework conditions lacks theoretical foundation. We discuss the relevance of some results on institutions for agricultural markets in emerging...... and transition countries. A synthesis of the articles included in the special feature is provided by highlighting the selection of topics that span a topical range covering price formation on world and domestic markets, market power and trade policy modelling....

Analyses of the structure of group correlations in Korean financial markets

Science.gov (United States)

Ko, Jeung Su; Lim, Gyuchang; Kim, Kyungsik

2012-12-01

In this paper, we construct and analyze the structure of cross-correlations in two Korean stock markets, the Korea Composite Stock Price Index (KOSPI) and the Korea Securities Dealers Automated Quotation (KOSDAQ). We investigate a remarkable agreement between the theoretical prediction and the empirical data concerning the density of eigenvalues in the KOSPI and the KOSDAQ. We estimate daily cross-correlations with respect to price fluctuations of 629 KOSPI and 650 KOSDAQ stock entities for the period from 2006 to 2010. The research for the structure of group correlations undress the market-wide effect by using the Markowitz multi-factor model and network-based approach. We find stock entities that involve the same business sectors and verify the structure of group correlations by applying a network-based approach. In particular, the KOSPI has a dense correlation besides overall group correlations for stock entities, whereas both correlations are less for the KOSDAQ than for the KOSPI.

Can the dynamics of the term structure of petroleum futures be forecasted? Evidence from major markets

International Nuclear Information System (INIS)

Skiadopoulos, George; Chantziara, Thalia

2008-01-01

We investigate whether the daily evolution of the term structure of petroleum futures can be forecasted. To this end, the principal components analysis is employed. The retained principal components describe the dynamics of the term structure of futures prices parsimoniously and are used to forecast the subsequent daily changes of futures prices. Data on the New York Mercantile Exchange (NYMEX) crude oil, heating oil, gasoline, and the International Petroleum Exchange (IPE) crude oil futures are used. We find that the retained principal components have small forecasting power both in-sample and out-of-sample. Similar results are obtained from standard univariate and vector autoregression models. Spillover effects between the four petroleum futures markets are also detected. (author)

A structural model for the housing and credit markets in Italy

OpenAIRE

Andrea Nobili; Francesco Zollino

2012-01-01

We estimate a fully-fledged structural system for the housing market in Italy, taking into account the multi-fold link with bank lending to both households and construction firms. The model allows the house supply to vary in the short run and the banking sector to affect the equilibrium in the housing market, through its effect on housing supply and demand. We show that house prices react mostly to standard drivers such as disposable income, expected inflation and demographic pressures. Lendi...

How renewables will change electricity markets in the next five years

International Nuclear Information System (INIS)

Schleicher-Tappeser, Ruggero

2012-01-01

Photovoltaic (PV) cells, onshore wind turbines, internet technologies, and storage technologies have the potential to fundamentally change electricity markets in the years ahead. Photovoltaic cells are the most disruptive energy technology as they allow consumers of all sizes to produce power by themselves—new actors in the power market can begin operating with a new bottom-up control logic. Unsubsidised PV markets may start to take off in 2013, fuelling substantial growth where PV power is getting cheaper than grid or diesel backup electricity for commercial consumers. Managing loads and achieving a good match between power consumption and weather-dependent power production will likely become a key issue. This consumption—production balance may trigger massive innovation and investment in energy management technologies involving different kinds of storage and controls. Increasing autonomy and flexibility of consumers challenges the top-down control logic of traditional power supply and pushes for a more decentralised and multi-layered system. How rapidly and smoothly this transformation occurs depends to a large extent on the adaptation speed of the regulatory framework and on the ability of market players to develop appropriate business models. The paper discusses conflicts of interest; hurdles and drivers; opportunities; and traps for this perspective. - Highlights: ► Accelerated cost decrease of photovoltaics rapidly changes all cost relations. ► PV power starts competing on the retail side, incentive policies lose control. ► Cheap solar self-supply pushes energy management and flexibility of prosumers. ► Prosumer flexibility challenges grids, requires variable tariffs in time and space. ► Bottom-up dynamics require new multi-level governance of grids and markets.

Person-Centered Care Practices in Long-Term Care in the Deep South: Consideration of Structural, Market, and Administrator Characteristics.

Science.gov (United States)

Jacobs, M Lindsey; Snow, A Lynn; Parmelee, Patricia A; Davis, Jullet A

2018-03-01

The purpose of this study was to identify structural, market, and administrator factors of nursing homes that are related to the implementation of person-centered care. Administrators of Medicare/Medicaid-certified nursing homes in the Deep South were invited to complete a standardized survey about their facility and their perceptions and attitudes regarding person-centered care practices (PCCPs). Nursing home structural and market factors were obtained from public websites, and these data were matched with administrator data. Consistent with the resource-based theory of competitive advantage, nursing homes with greater resources and more competition were more likely to implement PCCPs. Implementation of person-centered care was also higher in nursing homes with administrators who perceived culture change implementation to be feasible in their facilities. Given that there is a link between resource availability and adoption of person-centered care, future research should investigate the cost of such innovations.

Electricity market liberalisation - the German model

International Nuclear Information System (INIS)

Mueller, W.

2002-01-01

This article discusses the experience gained as a result of the opening of the German electricity market - not only from the national but also from European and international points of view. The history of electricity market liberalisation in Germany is described and the market's structure is compared with that of Switzerland. Both the advantages and disadvantages that have been brought about by liberalisation are discussed as well as the role of state regulation. Certain problem areas still to be tackled are discussed, such those in the areas of cartels, possibilities of supplier-change and tariffs. Also, liberalisation in the context of the European Union's efforts in this area are discussed, especially with respect to the consideration of differing structures in the various member countries of the Union

The changing face of the English National Health Service: new providers, markets and morality.

Science.gov (United States)

Frith, Lucy

2016-09-01

One significant change in the English National Health Service (NHS) has been the introduction of market mechanisms. This review will explore the following questions: should we have markets in healthcare? What is the underlying philosophy of introducing more market mechanisms into the NHS? What are the effects of this and does it change the NHS beyond anything Bevan might have imagined in 1948? The review will use empirical studies, philosophical literature, bioethics discussion, policy and NHS documents. The NHS is facing unprecedented challenges at the beginning of the 21st century, with funding levels not meeting the increase in demand. The extent and appropriate role for market mechanisms in the NHS is hotly debated. It will be argued that we are moving towards a more market-based NHS and the possible effects of this will be discussed. Rarely are the policy changes in the NHS evidence based in any meaningful way and they are often driven by ideological considerations rather than clear evidence. There needs to be a greater reliance on evidence of what works and a continuing commitment to healthcare as a societal good. There needs to be a discussion of what the NHS should be-a funder and provider, a funder or a partial funder? How the balance of power between regulators, different types of provider, commissioners and ultimately patients will play out in this changing environment are also areas for future study. © The Author 2016. Published by Oxford University Press. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Entry regulations, welfare and determinants of market structure

OpenAIRE

Maican, Florin; Orth, Matilda

2015-01-01

We use a dynamic oligopoly model of entry and exit with store-type differentiation to evaluate how entry regulations affect profitability, market structure and welfare. Based on unique data for all retail food stores in Sweden, we estimate demand, recover variable profits, and estimate entry costs and fixed costs by store type. Counterfactual policy experiments show that welfare increases when competition is enhanced by lower entry costs. Protecting small stores by imposing licensing fees on ...

New structures in the European gas market

International Nuclear Information System (INIS)

Tangen, Kristian

1997-01-01

The aim of this study is to provide a background for assessing elements of change in the European gas market that in the long run may produce new framework conditions for Norwegian gas exports. It will also serve as an empirical basis for further studies. The main question is: What can the extension of the pipeline network and the growing number of actors tell us about future competition in spite of the fact that both Russia, Algeria and Norway have non-contracted capacity in the pipelines they are building. A number of uncertainties make it hard to draw any clear conclusions about a totally different competitive situation than only a few years ago. In the Netherlands groups of former distribution companies are threatening Gasunies' monopoly while Ruhrgas' attempt to expand into Austria may lead to gas to gas competition there. Signs of a similar development are seen in Italy and Spain as well. Increasing competition can be explained partly by the growing number of actors downstream in the gas market - in trade, transmission and among the large consumers, the electricity producers, the consequence of direct volumes and of shorter duration which in itself promotes competition. Several large pipeline projects have been carried through in co-operation between several actors which indicates that new types of projects are being developed in order to reduce risks for each actor. These will be easier to realise in the absence of long-term ''take-or-pay'' contracts at company level, what we may call companies rhetoric and argumentation as a result of comprehensive market positioning. Furthermore it seems likely that a kind of spot market will develop. Even if we can expect that only small volumes will be traded through this channel at first. Such a development may have considerable influence on prices in the long run. 5 tabs, 29 refs

STRUCTURE OF THE MARKET OF INNOVATIVE PRODUCTS: APPROACH TO ASSESSING THE IMPACT ON EFFICIENCY

Directory of Open Access Journals (Sweden)

Anna Elagina

2015-06-01

Full Text Available The formation of innovation policy innovative economy is impossible without an understanding of the conceptual basis of the efficiency of production of innovative products. In particular, determination of the influence of market structure on the possibility of expanded reproduction of innovative products. The article is devoted to consideration of existing in this field of research and definition of the limits of quantitative assessment of the influence of defects of market structures on efficiency.

An Analysis of Malaysia’s Regulatory Framework and Challenges in the Structured Product Market

OpenAIRE

Ling, Eu Meng

2008-01-01

Structured products are becoming increasingly popular and important to the development of Malaysia’s capital market and had experience impressive growth over the last few years after it was first introduced to the Malaysian market in 2004. Like any industry in its early stage, issues and challenges are expected but for structured products, such challenges require more attention due to the complexity inherent in these instruments. This study uses a qualitative research approach in an attempt t...

What role will climate change play in EU agricultural markets? An integrated assessment taking into account carbon fertilization effects

Energy Technology Data Exchange (ETDEWEB)

Martinez, P.; Blanco, M.; Van Doorslaer, B.; Ramos, F.; Ceglar, A.

2017-07-01

Recent studies point to climate change being one of the long-term drivers of agricultural market uncertainty. To advance in the understanding of the influence of climate change on future agricultural market developments, we compared a baseline scenario for the year 2030 with alternative simulation scenarios that differ regarding: (1) emission scenarios; (2) climate projections; and (3) the consideration of carbon fertilization effects on crop growth. For each simulation scenario, the CAPRI model provides global and EU-wide impacts of climate change on agricultural markets. Results showed that climate change would considerably affect agrifood markets up to 2030. Nevertheless, market-driven adaptation strategies (production intensification, trade adjustments) would soften the impact of yield shocks on supply and demand. As a result, regional changes in production would be lower than foreseen by other studies focused on supply effects.

What role will climate change play in EU agricultural markets? An integrated assessment taking into account carbon fertilization effects

International Nuclear Information System (INIS)

Martinez, P.; Blanco, M.; Van Doorslaer, B.; Ramos, F.; Ceglar, A.

2017-01-01

Recent studies point to climate change being one of the long-term drivers of agricultural market uncertainty. To advance in the understanding of the influence of climate change on future agricultural market developments, we compared a baseline scenario for the year 2030 with alternative simulation scenarios that differ regarding: (1) emission scenarios; (2) climate projections; and (3) the consideration of carbon fertilization effects on crop growth. For each simulation scenario, the CAPRI model provides global and EU-wide impacts of climate change on agricultural markets. Results showed that climate change would considerably affect agrifood markets up to 2030. Nevertheless, market-driven adaptation strategies (production intensification, trade adjustments) would soften the impact of yield shocks on supply and demand. As a result, regional changes in production would be lower than foreseen by other studies focused on supply effects.

Using Labeled Choice Experiments to Analyze Demand Structure and Market Position among Seafood Products

DEFF Research Database (Denmark)

Nguyen, Thong Tien; Solgaard, Hans Stubbe; Haider, Wolfgang

2018-01-01

Understanding market competition and consumer preferences are important first steps in developing a business. In a competitive market, effectiveness of the various elements of a firm’s marketing mix depends not only on the absolute value of each element but also on the relative values......-employed consumers are the most sensitive to price. Four segments are identified and described in terms of both consumer characteristics and preferences. Our results are meaningful for producers and retailers to develop marketing strategies and production plan....... of the elements with respect to the firm’s position in the market. In this paper we analyze the demand structure and market positions for a variety of seafood products in the French retail market. We use a labeled choice experiment (LCE) to analyze twelve seafood species. The choice options are labeled...

The changing structure of the international oil industry: implications for OPEC

International Nuclear Information System (INIS)

Abdalla, K.L.; )

1995-01-01

This paper examines the changes in international oil market structure observed in the 1980s and early 1990s and assesses possible effects on oil market conditions in the future and implications for OPEC. It focuses on the trend toward a more vertical organization mainly resulting from substantial purchases of downstream assets by state owned oil companies in major oil producing countries. While the Gulf war prevented greater horizontal concentration of oil reserves, it merely interrupted the trend toward vertical concentration in the international oil industry. The vertical integration of only some of the OPEC members will cause a further divergence of goals within the organization resulting in a lower likelihood of OPEC regaining its former position as an effective cartel. If the trend toward greater vertical concentration increases, future oil prices will, in part, be affected by decisions made by vertically integrated firms. (author)

The structure and resilience of financial market networks.

Science.gov (United States)

Peron, Thomas Kaue Dal'Maso; Costa, Luciano da Fontoura; Rodrigues, Francisco A

2012-03-01

Financial markets can be viewed as a highly complex evolving system that is very sensitive to economic instabilities. The complex organization of the market can be represented in a suitable fashion in terms of complex networks, which can be constructed from stock prices such that each pair of stocks is connected by a weighted edge that encodes the distance between them. In this work, we propose an approach to analyze the topological and dynamic evolution of financial networks based on the stock correlation matrices. An entropy-related measurement is adopted to quantify the robustness of the evolving financial market organization. It is verified that the network topological organization suffers strong variation during financial instabilities and the networks in such periods become less robust. A statistical robust regression model is proposed to quantity the relationship between the network structure and resilience. The obtained coefficients of such model indicate that the average shortest path length is the measurement most related to network resilience coefficient. This result indicates that a collective behavior is observed between stocks during financial crisis. More specifically, stocks tend to synchronize their price evolution, leading to a high correlation between pair of stock prices, which contributes to the increase in distance between them and, consequently, decrease the network resilience.

The structure and resilience of financial market networks

Science.gov (United States)

Kauê Dal'Maso Peron, Thomas; da Fontoura Costa, Luciano; Rodrigues, Francisco A.

2012-03-01

Financial markets can be viewed as a highly complex evolving system that is very sensitive to economic instabilities. The complex organization of the market can be represented in a suitable fashion in terms of complex networks, which can be constructed from stock prices such that each pair of stocks is connected by a weighted edge that encodes the distance between them. In this work, we propose an approach to analyze the topological and dynamic evolution of financial networks based on the stock correlation matrices. An entropy-related measurement is adopted to quantify the robustness of the evolving financial market organization. It is verified that the network topological organization suffers strong variation during financial instabilities and the networks in such periods become less robust. A statistical robust regression model is proposed to quantity the relationship between the network structure and resilience. The obtained coefficients of such model indicate that the average shortest path length is the measurement most related to network resilience coefficient. This result indicates that a collective behavior is observed between stocks during financial crisis. More specifically, stocks tend to synchronize their price evolution, leading to a high correlation between pair of stock prices, which contributes to the increase in distance between them and, consequently, decrease the network resilience.

CHANGES IN NITROGEN FERTILIZERS MARKET IN POLAND IN 2000-2010

Directory of Open Access Journals (Sweden)

Arkadiusz Zalewski

2013-12-01

Full Text Available The article describes the evolution of production, consumption and foreign trade of nitrogen fertilizers in Poland in years 2000-2010. The structure of the use of nitrogen fertilizers, foreign trade and balance of the market of urea, ammonium sulfate, ammonium nitrate, calcium ammonium nitrate, ammonium phosphate and UAN were analysed. Geographical directions of foreign trade were specified. The results showed that the domestic fertilizer sector is fully self-sufficient in the area of production of various nitrogen fertilizers. The most commonly used nitrogen fertilizers were: ammonium nitrate, urea and calcium ammonium nitrate while the importance of ammonium nitrate was clearly reduced. Ammonium sulphate and UAN produced mainly for export, and ammonium nitrate for the domestic market.

Powering change in low-income energy markets

Energy Technology Data Exchange (ETDEWEB)

Wilson, Emma; Garside, Ben

2011-06-15

Market-based interventions to improve access to energy rarely benefit the poorest, especially if they are driven by specific technologies or external agendas, such as climate change mitigation. Failure to understand local needs and preferences results in inappropriate goods and services and low uptake. Yet business can deliver low-carbon technologies to the 'bottom billion' and support sustainable development. To do so, they must work more closely with government agencies, development practitioners and local communities in designing and delivering products and services. Impact should be measured in terms of development benefits, not products sold or carbon emissions saved.

Transitional rates, risk and the Ontario wholesale power market

International Nuclear Information System (INIS)

Rothman, M.

2001-01-01

Navigant Consulting is a large investor-owned management consulting firm specializing in energy-based and other networked and regulated industries across Canada. The company works with clients to create delivery and protect shareholder value in the face of uncertainty and change. This presentation discussed the issue of price volatility in competitive electricity markets. The points to keep in mind for pricing in competitive power markets is that: (1) electricity should be generated simultaneously with use, (2) rates in administered markets are average over some time period, (3) competitive pool markets do not average costs, (4) in competitive pool markets, prices are set in very short (hourly or less) intervals, (5) prices in competitive markets are more volatile than in administered markets for both economic and market structure reasons, and (6) the degree of volatility and price levels can change quickly. The Ontario power market was also discussed with reference to price volatility in Ontario and what this means for electricity customers. tabs., figs

Scenarios of long-term farm structural change for application in climate change impact assessment

NARCIS (Netherlands)

Mandryk, M.; Reidsma, P.; Ittersum, van M.K.

2012-01-01

Towards 2050, climate change is one of the possible drivers that will change the farming landscape, but market, policy and technological development may be at least equally important. In the last decade, many studies assessed impacts of climate change and specific adaptation strategies. However,

A model of the world uranium market

International Nuclear Information System (INIS)

Trieu, L.H.; Savage, E.; Dwyer, G.

1994-01-01

In this paper the structure of the world uranium market is analysed and an econometric model developed. The modelling effort is focused on the spot market because developments in the spot market are increasingly being reflected in contract agreements and it is more transparent than the contract market. Changing surplus supplies of uranium on the spot market have led to wide variations in the spot price and this relationship is a focus of the analysis. The results indicate that stocks will reduce to a point where a gradual rise in spot prices can be expected after 1993 but the recovery will be sensitive to new supply entering from non-traditional market sources. (Author)

Branding and Performance in the Global Beer Market

DEFF Research Database (Denmark)

Madsen, Erik Strøjer

The mass market for beers is served by a few global breweries in an oligopoly structure covering most of the world market. The homogeneity of their main lager beers are very high and produced at large scaled plants at low costs. However, the breweries spend large amounts of money to promote some...... of the lager beers as premium beers and at a high and increasing price premium. Based on a database with prices for standard and premium lager, the paper study the development in the consumption of different types of beers on the global market in recent years. We estimate the price premium on premium beers...... and relate it to the rapid change in the oligopoly structure of the market through the merger and acquisition activities....

High Frequency Traders and Market Structure

NARCIS (Netherlands)

Menkveld, A.J.

2014-01-01

The arrival of high-frequency traders (HFTs) coincided with the entry of new markets and, subsequently, strong fragmentation of the order flow. These trends might be related as new markets serve HFTs who seek low fees and high speed. New markets only thrive on competitive price quotes that

North American Oriented Strand Board Markets, Arbitrage Activity, and Market Price Dynamics: A Smooth Transition Approach

OpenAIRE

Goodwin, Barry K.; Holt, Matthew T.; Prestemon, Jeffery P.

2008-01-01

Price dynamics for North American oriented strand board (OSB) markets are examined. The role of transactions costs are explored vis-a-vis the law of one price. Weekly data, February 3rd, 1995 through October 9th, 2009, are used in the analysis. Nonlinearities induced by unobservable transactions costs are modeled by estimating Time-Varying Smooth Transition Autoregressions (TV-STARs). Results indicate that nonlinearity and structural change are important features of these markets; price...

MIDDLEMEN IN THE MARKET FOR GRAIN: CHANGES AND COMPARISONS

Directory of Open Access Journals (Sweden)

Mary Eschelbach Hansen

2000-01-01

Full Text Available The role of middlemen in the market for grain changed with the advent of standardized grain grading. Prior to grain grading, economies of scale were limited because of the requirement that middlemen develop strong personal reputations though the maintenance of multi-faceted relationships with clients. Grain grading homogenized grain, making it possible for middlemen to take advantage of economies of scale in their operations.

Marketing reporting system

OpenAIRE

Hanić Hasan M.

2004-01-01

The main components of a developed and good organized marketing information system are: internal reporting system, marketing reporting system, market research system and analytical marketing system. Marketing reporting system provides data and information about changes in business and micro marketing environment. This component of MIS ensures that marketing managers are up-to-date with what is going on, and to be informed about changes in company marketing environment.

Marketing reporting system

Directory of Open Access Journals (Sweden)

Hanić Hasan M.

2004-01-01

Full Text Available The main components of a developed and good organized marketing information system are: internal reporting system, marketing reporting system, market research system and analytical marketing system. Marketing reporting system provides data and information about changes in business and micro marketing environment. This component of MIS ensures that marketing managers are up-to-date with what is going on, and to be informed about changes in company marketing environment.

The Marketing Mix Revisited: Towards the 21st Century Marketing

OpenAIRE

Constantinides, Efthymios

2006-01-01

The paper assesses the current standing of the 4Ps Marketing Mix framework as the dominant marketing management paradigm and identifies market developments, environmental changes, and trends, as well as changing academic attitudes likely to affect the future of the Mix as theoretical concept and also the favourite management tool of marketing practitioners. It reviews the criticism on the 4Ps emanating from five traditional marketing areas - Consumer Marketing, Relationship Marketing, Service...

Factor Structure and Market Integration under Two-Factor Monopolistic Competition Model

Directory of Open Access Journals (Sweden)

Evgeny Vladimirovich Zhelobodko

2013-09-01

Full Text Available The authors study the impact of trade liberalization on the market of a differentiated good and consumers’ welfare. The economy involves two factors of production: labor and capital. The researchers find that consumers always gain from trade liberalization. The article also establishes that the behavior of equilibrium price is independent of factor endowments’ structure in the countries involved into trade. The equilibrium price decreases (increases, remains unchanged under trade liberalization if and only if the inverse demand elasticity is increasing (decreasing, constant with respect to the individual consumption level. Furthermore, firms’ size which are measured as output increases (decreases when autarky changes to free trade if and only if the country is relatively richer (poorer in capital than its trading partner, regardless of the demand-side properties of the economy. Finally, the behavior of capital price (which equals firms’ profits in equilibrium is more complicated in the general case, but can be fully characterized for two limiting cases: (i when the structure of factor endowments in both countries is the same, and (ii when the Foreign country is a periphery country, i.e. it has zero endowment of capital

E-laboratories : agent-based modeling of electricity markets

International Nuclear Information System (INIS)

North, M.; Conzelmann, G.; Koritarov, V.; Macal, C.; Thimmapuram, P.; Veselka, T.

2002-01-01

Electricity markets are complex adaptive systems that operate under a wide range of rules that span a variety of time scales. These rules are imposed both from above by society and below by physics. Many electricity markets are undergoing or are about to undergo a transition from centrally regulated systems to decentralized markets. Furthermore, several electricity markets have recently undergone this transition with extremely unsatisfactory results, most notably in California. These high stakes transitions require the introduction of largely untested regulatory structures. Suitable laboratories that can be used to test regulatory structures before they are applied to real systems are needed. Agent-based models can provide such electronic laboratories or ''e-laboratories.'' To better understand the requirements of an electricity market e-laboratory, a live electricity market simulation was created. This experience helped to shape the development of the Electricity Market Complex Adaptive Systems (EMCAS) model. To explore EMCAS' potential as an e-laboratory, several variations of the live simulation were created. These variations probed the possible effects of changing power plant outages and price setting rules on electricity market prices

Market structure and competition in the healthcare industry : Results from a transition economy.

Science.gov (United States)

Lábaj, Martin; Silanič, Peter; Weiss, Christoph; Yontcheva, Biliana

2018-02-14

The present paper provides first empirical evidence on the relationship between market size and the number of firms in the healthcare industry for a transition economy. We estimate market-size thresholds required to support different numbers of suppliers (firms) for three occupations in the healthcare industry in a large number of distinct geographic markets in Slovakia, taking into account the spatial interaction between local markets. The empirical analysis is carried out for three time periods (1995, 2001 and 2010) which characterise different stages of the transition process. Our results suggest that the relationship between market size and the number of firms differs both across industries and across periods. In particular, we find that pharmacies, as the only completely liberalised market in our dataset, experience the largest change in competitive behaviour during the transition process. Furthermore, we find evidence for correlation in entry decisions across administrative borders, suggesting that future market analysis should aim to capture these regional effects.

Urban Land Expansion and Structural Change in the Yangtze River Delta, China

Directory of Open Access Journals (Sweden)

Jinlong Gao

2015-07-01

Full Text Available Urban development in China has attracted considerable scholarly attention. However, more work is still needed to examine and understand the mechanisms of urban land expansion, especially within the context of globalization/marketization, decentralization and urbanization. This paper analyzes urban land expansion and structural changes in the Yangtze River Delta (YRD. We find that cities in the YRD are experiencing urban land expansion mainly characterized by the growth of residential and industrial land. The dominant characteristics of urban land expansion in cities have also varied within different development and administrative levels. Based on our conceptual framework, we have used multi-models to investigate the driving forces of urban land expansion and structural changes in the YRD. The results reveal that six influencing factors—foreign direct investment (FDI, labor, government competition, institution, population, and job-housing relations—facilitate land use change in the economic transition process. However, their impacts differ in cities in different geographical locations, as well as with different administrative levels. Finally, this paper discusses policies to promote sustainable urban land use in the YRD.

The downstream industry compared to market

International Nuclear Information System (INIS)

Chevallier, B.

2010-01-01

J.L. Schilansky introduces here the difficult question of the downstream industry compared to market in recalling the recent structural changes (behaviour of customers, behaviour of the USA- and China-governments), the increase of the European and French regulations, the climatic change and the conjectural impact of the crisis on the refining industry. (O.M.)

Positioning marketing in the hospital's power structure.

Science.gov (United States)

Beckham, D

1984-08-01

Although hospitals are increasingly recognizing the importance of marketing, many have difficulty assimilating what has been primarily an industrial concern into a health care environment. The author explains the function of marketing in health care, the outlook and expectations of a good marketing executive, and why hospital management and the medical staff may have difficulty accepting marketing and the expectations of the marketing executive.

Market Structure and Distribution of Benefits from Agricultural Exports: the Case of the Philippine Mango Industry

OpenAIRE

Briones, Roehlano M.

2013-01-01

To illuminate the role of agro-export industry in inclusive growth, this case study on Philippine mango focuses on the role of market structure in the distribution of export benefits. It is based on review of industry trends and related studies, open-ended interviews of key informants, and structured interviews of respondents situated along the value chain. The distribution of trade benefits is hypothesized to depend on both vertical and horizontal market structure. The former implies that a ...

Retail experience in the de-regulated market

International Nuclear Information System (INIS)

Cummings, R.

2003-01-01

This paper describes the experience gained to date in the de-regulated electricity market through an examination of the commercial market. In 2001, chaos provided opportunity, while in 2002 the emphasis was on operations. In 2003, the landscape reflected hyper-competition, selling second services, and a changing landscape. A discussion followed on the residential market with a look at market structure, economics, and uncertainty concerning the future. The following components were identified as working well: wholesale market, commercial market, market model/data, and innovation in offerings and green supply. Areas requiring further improvement were also identified. It was suggested that the residential de-regulated roadmap should be clarified and retail friendly transactions should be imposed. Other improvements involve education and operations/system capabilities. The author concluded that the deregulated electricity market is still an immature market, where progress is being made in the commercial market. The residential market is in a critical period, with a market model still evolving. figs

The telecommunications industry and economic growth: how the market structure matters

Czech Academy of Sciences Publication Activity Database

Jerbashian, Vahagn

2015-01-01

Roč. 51, December (2015), s. 515-523 ISSN 0264-9993 Grant - others:UK(CZ) GAUK 79310 Institutional support: PRVOUK-P23 Keywords : telecommunications industry * market structure * economic growth Subject RIV: AH - Economic s Impact factor: 0.997, year: 2015

Marketing and the transition process

Directory of Open Access Journals (Sweden)

Andrejević Aleksandar

2006-01-01

Full Text Available In the initial stage of the transition process reduction of economic activities and downturn trend of GDP per capita are occur, which are the results of actual structural discrepancy and imperative need in undertaking of an adequate structural changes. Economic policy maker's orientation to the economic liberalization, macroeconomic stabilization, foreign capital inflow increase of revenue and expenditure should be attended by the adequate changes in a microeconomic sphere, primarily changes in approach to dealing of basic economic activities protagonists, id est companies. Marketing as the economic process, business philosophy and business function membership dues to raising of company's qualification and competitiveness, assist the economic requiste changes and palliate the transition process as well.

Intraday market asymmetries — A Nordic example

DEFF Research Database (Denmark)

Soysal, Emilie Rosenlund; Olsen, Ole Jess; Skytte, Klaus

2017-01-01

, particularly important for VRE producers, but it also means that the price formation at intraday market can change optimal bidding strategy in the day-ahead market. Through econometric modelling of intraday price premiums, this paper investigates intraday price asymmetries, which potentially can lead...... to strategic bidding. The intraday market is per definition symmetric, as prices for power sales always correspond to prices for power purchases, however, we find that this symmetry is not reflected in the price structure in regards to the total load adjustment needs....

Heroin in brown, black and white: structural factors and medical consequences in the US heroin market.

Science.gov (United States)

Ciccarone, Daniel

2009-05-01

Heroin coming into the United States historically comes from three widely dispersed geographical regions: Southwest Asia, Southeast Asia and Mexico. A fourth source of US-bound heroin, from Colombia, originated in the early 1990s. The fact that the four heroin sources produce differing morphologies and qualities of heroin has not been critically examined. In addition, it is not well established how the contemporary competing dynamics of interdiction, or restriction of heroin flows across international boundaries, and neoliberal, e.g., global expansion of free trade, policies are affecting heroin markets. This paper will highlight changes in the US heroin market, including source trends, the political economy of the now dominant source and the resultant effects on the heroin risk environment by US region. Using a structural and historical framework this paper examines two decades of secondary data sources, including government and drug control agency documents, on heroin flows together with published work on the political and economic dynamics in Latin America. Co-occurring neoliberal economic reforms may have contributed to paradoxical effects of US/Colombian interdiction efforts. Since entering the US market, heroin from Colombia has been distributed at a much higher quality and lower retail price. An increasingly exclusive market has developed with Mexican and Colombian heroin gaining market share and displacing Asian heroin. These trends have had dramatic effects on the risk environment for heroin consumers. An intriguing factor is that different global sources of heroin produce substantially different products. Plausible associations exist between heroin source/form and drug use behaviours and harms. For example, cold water-soluble powdered heroin (sources: Asia, Colombia) may be associated with higher HIV prevalence in the US, while low-solubility "black tar" heroin (BTH; source: Mexico) is historically used in areas with reduced HIV prevalence. BTH is

Heroin in brown, black and white: Structural factors and medical consequences in the US heroin market

Science.gov (United States)

Ciccarone, Daniel

2009-01-01

Background Heroin coming into the United States historically comes from three widely dispersed geographical regions: Southwest Asia, Southeast Asia and Mexico. A fourth source of US-bound heroin, from Colombia, originated in the early 1990s. The fact that the four heroin sources produce differing morphologies and qualities of heroin has not been critically examined. In addition, it is not well established how the contemporary competing dynamics of interdiction, or restriction of heroin flows across international boundaries, and neoliberal, e.g., global expansion of free trade, policies are affecting heroin markets. This paper will highlight changes in the US heroin market, including source trends, the political economy of the now dominant source and the resultant effects on the heroin risk environment by US region. Methods Using a structural and historical framework this paper examines two decades of secondary data sources, including government and drug control agency documents, on heroin flows together with published work on the political and economic dynamics in Latin America. Results Co-occurring neoliberal economic reforms may have contributed to paradoxical effects of US/Colombian interdiction efforts. Since entering the US market, heroin from Colombia has been distributed at a much higher quality and lower retail price. An increasingly exclusive market has developed with Mexican and Colombian heroin gaining market share and displacing Asian heroin. These trends have had dramatic effects on the risk environment for heroin consumers. An intriguing factor is that different global sources of heroin produce substantially different products. Plausible associations exist between heroin source/form and drug use behaviours and harms. For example, cold water-soluble powdered heroin (sources: Asia, Colombia) may be associated with higher HIV prevalence in the US, while low-solubility “black tar” heroin (BTH; source: Mexico) is historically used in areas with reduced

Comprehensive and market-based approaches to global-change policy

International Nuclear Information System (INIS)

Stewart, R.B.

1992-01-01

The summary highlights the need to take a system-wide approach to global change. The need to minimize costs while achieving environmental goals suggests the utility of employing market-based incentives that (1) ensure that the most is achieved by those who can do so at least cost and (2) encourage, innovation, rather than using 'command-and-control' tactics that mandate uniform adoption of centrally selected techniques. 18 refs

An overview of a free-market approach to climate change and conservation.

Science.gov (United States)

Sandor, Richard L; Bettelheim, Eric C; Swingland, Ian R

2002-08-15

This paper describes the convergence of environmental and financial markets, reviews the evolution of market-based environmental programmes as an example of the seven-stage evolutionary process witnessed in a variety of markets and summarizes the emergence of greenhouse-gas-mitigation markets and their potential role in advancing land stewardship, biodiversity and other environmental services. Emissions trading has been developed to meet the demand to reduce pollution while avoiding economic disruption. Consistent with the seven-stage pattern of market evolution, the US programme to reduce the damage from acid rain established a standardized environmental commodity, developed 'evidence of ownership' necessary for financial instruments and provided the infrastructure to efficiently transfer title. The success of the system in reducing pollution at low cost has provided a model for other market-based environmental protection initiatives. The demand for cost-effective action to reduce the threat of climate change has initiated the same evolutionary process for markets to reduce greenhouse-gas emissions. Many of the land- and forest-management practices that can capture and store atmospheric CO(2) can also provide other environmental benefits, such as biodiversity preservation and enhanced water quality. The presence of a carbon-trading market will introduce a clear financial value for capture and mitigation of CO(2) emissions, thus introducing a new source of funding for land stewardship and forest rehabilitation. The market is now emerging through a variety of 'bottom-up' developments being undertaken through governmental, multilateral, private-sector and non-governmental-organization initiatives. The extension of markets to other emerging environmental issues is now underway, and the linkages between environmental sustainability and capital markets are being more deeply understood. The early evidence indicates that environmental sustainability can be compatible with

Secondary SWU market - the changing circumstance

International Nuclear Information System (INIS)

Wolf, W.H.

1982-01-01

The author gives historical background on the uranium enrichment services (SWU) market before evaluating where the market currently stands and where it may be going, particularly in light of the new DOE Facility Requirement (FR) contract. The SWU market came into being as the most economic alternative available to a holder of excess SWU commitments. The FR contract will probably lead to three levels of marketplace activity: material for use within FR contracts from existing DOE inventories; shuffle transactions involving DOE source SWUs to be placed into remaining adjustable, fixed-commitment contracts; and non-DOE origin SWU and worldwide inventory and excess commitments. He concludes that the amount of transactions involving DOE SWU commitments will continue to dwindle, particularly as DOE becomes more and more of a marginal supplier in the overseas market. An appendix summarizes DOE fixed-commitment contract assignments

Spanish generation market: structure, design and results; El Mercado de Generacion Electrica en Espana: Estructura, Funcionamiento y Resultados

Energy Technology Data Exchange (ETDEWEB)

Agosti, L.; Padilla, A. J.; Requejo, A.

2007-07-01

This paper provides an overview of the structure, design and outcome of the Spanish generation market from 1998, when the market was liberalised, to date. More precisely, this paper reviews the history of the liberalisation process; describes the structure of the generation market and its evolution over time; analyses the existence of market power; and evaluates the outcome of the liberalisation process from the viewpoint of its impact on al locative efficiency, productive efficiency and dynamic efficiency. The paper concludes with a brief summary of recent regulatory reforms. (Author)

ASSESSING CHANGES IN THE U.S. HARDWOOD SAWMILL INDUSTRY WITH A FOCUS ON MARKETS AND DISTRIBUTION

Directory of Open Access Journals (Sweden)

Omar Espinoza

2011-05-01

Full Text Available The U.S. hardwood sawmilling industry has experienced significant changes over the past decade. A slowing housing industry, competition from imported products, higher transportation costs, and high stumpage prices have changed the business of manufacturing and marketing hardwood lumber. Also, hardwood lumber buyers are changing their business practices by shortening lead times, requiring a more customized product, and buying smaller lumber quantities to cut costs and increase operational flexibility. A survey of hardwood lumber manufacturers was conducted in the fall of 2009 to assess changes and adaptations within the industry. Among respondents, average hardwood lumber sales decreased by 13.2 percent during the study's focus period from 2004 to 2008. Respondents also identified a change in customer demand with smaller, more frequent orders becoming more common. Moreover, the species mix shifted, with red oak losing considerable market share. Intermediaries, such as hardwood lumber distributors, were able to capture more of the industry's business. Respondents identified the slowing housing market and high energy costs as major factors affecting their businesses. While the survey's responses reflected the extremely challenging economic conditions, industry participants are aggressively adapting their businesses and pursuing new opportunities with the understanding that markets will eventually recover.

The telecommunications industry and economic growth: how the market structure matters

Czech Academy of Sciences Publication Activity Database

Jerbashian, Vahagn

2011-01-01

Roč. 3, č. 42 (2011), s. 1-68 ISSN N R&D Projects: GA MŠk LC542 Grant - others:UK(CZ) GAUK 79310 Institutional research plan: CEZ:MSM0021620846 Keywords : telecommunication industry * market structure * economic growth Subject RIV: AH - Economic s

The electricity market 2003

International Nuclear Information System (INIS)

2003-01-01

The electricity markets in the Nordic countries have undergone major changes since the electricity market reform work was started in the early 1990s. We now have a common Nordic electricity market that includes all of the Nordic countries, with the exception of Iceland. The objective of the electricity market reform is to introduce increased competition, to give consumers greater freedom of choice and also, by open and increased trade in electricity, create the conditions for efficient pricing. The Swedish Energy Agency is the supervisory authority specified in the Electricity Act, and one of the tasks entrusted to it by the Government is to follow developments on the electricity market and regularly compile and report current market information. The purpose of 'The Electricity Market 2003' publication is to meet the need for generalized and easily accessible information on the conditions on the Nordic market. The publication also includes summaries of the information from recent years concerning power generation and utilization in the Nordic countries, the structure of the electricity market from the players' perspective, trade in electricity in the Nordic countries and in northern Europe, electricity prices in the Nordic and other countries, and the impact of the electricity sector on the environment

Changing Dynamics in the Voluntary Market (Presentation)

Energy Technology Data Exchange (ETDEWEB)

Heeter, J.

2014-12-01

Voluntary green power markets are those in which consumers and institutions voluntarily purchase renewable energy to match their electricity needs. This presentation, presented at the Renewable Energy Markets Conference in December 2014, outlines the voluntary market in 2013, including community choice aggregation and community solar.

Market structure and the role of consumer information in the physician services industry: an empirical test.

Science.gov (United States)

Wong, H S

1996-04-01

This paper applies Panzar and Rosse's (1987) econometric test of market structure to examine two long-debated issues: What is the market structure for physician services? Do more physicians in a market area raise the search cost of obtaining consumer information and increase prices (Satterthwaite, 1979, 1985)? For primary care and general and family practice physicians, the monopolistically competitive model prevailed over the competing hypotheses--monopoly, perfect competition, and monopolistic competition characterized by consumer informational confusion. Although less conclisive, there is some evidence to support the monopolistically competitive model for surgeons and the consumer informational confusion model for internal medicine physicians.

Transitions to sustainable development. On the relevance of exploiting market forces

International Nuclear Information System (INIS)

Glasbergen, P.

2002-01-01

Transition management is a new concept in Dutch environmental policy and management. Bringing about transitions in society is a classical issue in planning and policy theory. One of the main debates is on the relationship between market and plan as coordinating mechanisms in society. Based on an examination of this debate, this article argues that there is no contradiction between incremental change and structural changes in society. In terms of these incremental changes, it observes a process of sustainable development that has gone on for years. In the author's view, the key to sustainable development is to be found in private investments. Transitions in a liberal democratic society necessarily take place via the market mechanism and come about as societal learning processes. The main challenge is to develop structures in which private capital is applied to achieve long-term processes of societal change. The FairTrade market and the clean development mechanism are discussed by way of examples [nl

Managing Labor Market Changes: Essential Skills for Entrepreneurs and Intrapreneurs

Science.gov (United States)

O'Neill, Barbara

2014-01-01

The United States labor market has undergone a dramatic sea change with increasing numbers of permanent freelancers and temporary workers. One in three workers has a temporary freelance job. It is estimated that, by 2020, more than 40% of the American labor force-60 million people-will be self-employed. This article discusses labor force trends,…

Utility residual fuel oil market conditions: An update

International Nuclear Information System (INIS)

Mueller, H.A. Jr.

1992-01-01

Planning for residual fuel oil usage and management remains an important part of the generation fuel planning and management function for many utilities. EPRI's Utility Planning Methods Center has maintained its analytical overview of the fuel oil markets as part of its overall fuel planning and management research program. This overview provides an update of recent fuel oil market directions. Several key events of the past year have had important implications for residual fuel oil markets. The key events have been the changes brought about by the Persian Gulf War and its aftermath, as well as continuing environmental policy developments. The Persian Gulf conflict has created renewed interest in reducing fuel oil use by utilities as part of an overall reduction in oil imports. The policy analysis performed to date has generally failed to properly evaluate utility industry capability. The Persian Gulf conflict has also resulted in an important change in the structure of international oil markets. The result of this policy-based change is likely to be a shift in oil pricing strategy. Finally, continued change in environmental requirements is continuing to shift utility residual oil requirements, but is also changing the nature of the US resid market itself

Portfolio Sensitivity Model for Analyzing Credit Risk Caused by Structural and Macroeconomic Changes

Directory of Open Access Journals (Sweden)

Goran Klepac

2008-12-01

Full Text Available This paper proposes a new model for portfolio sensitivity analysis. The model is suitable for decision support in financial institutions, specifically for portfolio planning and portfolio management. The basic advantage of the model is the ability to create simulations for credit risk predictions in cases when we virtually change portfolio structure and/or macroeconomic factors. The model takes a holistic approach to portfolio management consolidating all organizational segments in the process such as marketing, retail and risk.

The impact of the shale gas revolution on the U.S. and Japanese natural gas markets

International Nuclear Information System (INIS)

Wakamatsu, Hiroki; Aruga, Kentaka

2013-01-01

We investigated whether the increase in the US shale gas production changed the structures of the US and Japanese natural gas markets using market data for the period 2002:5–2012:5. Our analysis consists of a structural break test and market integration analysis. The Bai and Perron structural break test detected a break point of natural gas prices and consumption in 2005 as well as other external shocks – Hurricane Katrina and the Lehman Shock – that are irrelevant to shale gas development. We eliminated the impact of these shocks by separating the data set using the breaks identified in our analysis. We found the breaks skewed the estimation; a market linkage existed between the US and Japanese markets in the original data set, while it did not in the separated data. The vector autoregressive (VAR) model also indicated a significant change before and after the break point; the US market had a one-side influence on the Japanese market before 2005, but the influence disappeared after 2005. Our results implied that the shale gas revolution, triggered by the increase in shale gas production in 2005, caused the change in the relationship between the US and Japanese natural gas markets. -- Highlights: •We investigated the effect of the US shale gas revolution on gas markets. •A break test detected the shale gas revolution occurred in 2005. •The VAR model found a significant change before and after the break point. •The US influence on the Japanese market disappeared after 2005

Why credit risk markets are predestined for exhibiting log-periodic power law structures

Science.gov (United States)

Wosnitza, Jan Henrik; Leker, Jens