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1 – 10 of 156Alexandre Teixeira Dias, Henrique Cordeiro Martins, Valdeci Ferreira Santos, Pedro Verga Matos and Greiciele Macedo Morais
This research aims to identify the optimal configuration of investment which leads firms to their best competitive positions, considering the degree of concentration in the market.
Abstract
Purpose
This research aims to identify the optimal configuration of investment which leads firms to their best competitive positions, considering the degree of concentration in the market.
Design/methodology/approach
The methodology was quantitative and based on secondary data with samples of 124, 106 and 90 firms from competitive environment classified as perfect competition, monopolistic competition and oligopoly, respectively. Proposed models' parameters were estimated by means of genetic algorithms.
Findings
Adjustments on firm's investment are contingent on the degree of competition they face. Results are in line with existing academic research affirmation that the purpose of investments is to create and exploit opportunities for positive economic rents and that investments allow firms to protect from rivals' competitive actions and reinforce the need for investment decision makers to consider the environment in which the firm is competing, when defining the amount of investment that must be done to achieve and maintain a favorable competitive advantage position.
Originality/value
This research brings two main original contributions. The first one is the identification of the optimal amount of capital and R&D investments which leads firms to their best competitive positions, contingent to the degree of concentration of the competitive environment in which they operate, and the size of the firm. The second one is related to the use of genetic algorithms to estimate optimization models that considers the three competitive environments studied (perfect competition, monopolistic competition and oligopoly) and the investment variables in the linear and quadratic forms.
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So-Young Park, Su-Han Woo and Po-Lin Lai
Short-sea shipping (SSS) plays an important role in regional transportation networks by supporting regional trade and improving inter-modality. In particular, countries in…
Abstract
Purpose
Short-sea shipping (SSS) plays an important role in regional transportation networks by supporting regional trade and improving inter-modality. In particular, countries in north-east Asia, such as China, South Korea and Japan have been served well by local SSS services. While SSS markets in Northeast Asia (NEA) have been developed by bilateral routes with sub-markets, the market structure of each sub-markets varies depending on concentration and competition levels as well as government intervention. The purpose of this paper is to analyse the market structure of SSS markets in the Northeast Asia.
Design/methodology/approach
Herfindahl–Hirschman Index (HHI) and concentration ratio are adopted to measure the market concentration from 2013 to 2017 for SSS markets in NEA. Additionally, the balance between supply and demand is investigated by measuring the capacity utilisation factor (CUF) based on slot capacity.
Findings
The market structure in the NEA SSS markets is influenced by firms’ behaviour under different levels of governmental intervention. Shipping firms in a market with more governmental intervention in market entry tend to focus on balancing supply and demand rather than increasing market share, whereas firms in a market with less intervention (and more competition) tend to increase their market share by pursuing efficient capacity management.
Research limitations/implications
The period of data set is limited to 2013–2017. Furthermore, prices or revenue for specific routes are not available.
Originality/value
This paper sheds light on the market structure and behaviour of players in SSS market. In addition, the work has value to measure capacity utilisation based on slot capacity.
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Variation, replication and selection processes are acknowledged as key constructs in studies on how industries evolve, but no theoretical and empirical contributions have applied…
Abstract
Purpose
Variation, replication and selection processes are acknowledged as key constructs in studies on how industries evolve, but no theoretical and empirical contributions have applied these key constructs to analyzing industries in specific stages of their history. This paper aims to fill this gap, taking for reference the firm and its strategic action in particular.
Design/methodology/approach
After delineating and discussing the three processes of interest – variation, replication and selection – this paper analyzes three very different evolutionary contexts: “red” industries, that reached maturity maintaining a polypolistic structure, and that continue to evolve in this phase; the oligopolistic transformation undergone by certain industries; and the emergence of new market spaces around new products developed by firms.
Findings
Variations are mainly reactions to the competitive environment in the evolution of red industries or environment-modifying in the case of industries evolving toward an oligopoly, and in the creation of new market spaces. Horizontal replication through employee mobility prevails in red industries, while in the other two contexts firms driving the evolution raise barriers to replication, inhibiting both horizontal and vertical replication. While selection does not come about in a new market space as long as the barriers erected by the first comer remain in place, it occurs in the form of subset selection in the other two settings.
Originality/value
This paper takes an entirely novel approach and proposes a pluralist framing of how industries evolve, interpreting the different evolutionary situations on the strength of the key variables of variation, replication and selection.
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Arsalan Ahmed, Qi Jian Hong and Hassan Tahir
The study performs an empirical test to assess the impact of the Pakistan-China Free trade agreement (FTA) on Pakistan, China, and the World's exports under homogenous and…
Abstract
The study performs an empirical test to assess the impact of the Pakistan-China Free trade agreement (FTA) on Pakistan, China, and the World's exports under homogenous and differentiated products. This study employs the modeling with Poisson specification with Poisson Pseudo-Maximum Likelihood method for the estimations. The results of empirical test show that the effect of FTA on the FTA and Non-FTA countries is greater in the differentiated product as compared to the homogenous product. Therefore, one of the most important policy implications provided by this study is that export enterprises need to concentrate on differentiated products as compare to the homogenous products after the implementation of the Pakistan-China FTA. Moreover, the previous literature concluded that Pakistan-China FTA was more beneficial for China as compared to Pakistan. However, according to this study, if Pakistani enterprises focus more on differentiated products as compared to homogenous products, then it will be equally beneficial for both Chinese and Pakistani enterprises. This study will contribute to the literature by considering the Bertrand competition between asymmetric countries and find out the effect of the FTA on these three countries. It considers China, Pakistan, and the Rest of the World as first, second, and third countries.
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How to obtain a list of the 100 largest scientific publishers sorted by journal count? Existing databases are unhelpful as each of them inhere biased omissions and data quality…
Abstract
Purpose
How to obtain a list of the 100 largest scientific publishers sorted by journal count? Existing databases are unhelpful as each of them inhere biased omissions and data quality flaws. This paper tries to fill this gap with an alternative approach.
Design/methodology/approach
The content coverages of Scopus, Publons, DOAJ and SherpaRomeo were first used to extract a preliminary list of publishers that supposedly possess at least 15 journals. Second, the publishers' websites were scraped to fetch their portfolios and, thus, their “true” journal counts.
Findings
The outcome is a list of the 100 largest publishers comprising 28.060 scholarly journals, with the largest publishing 3.763 journals, and the smallest carrying 76 titles. The usual “oligopoly” of major publishing companies leads the list, but it also contains 17 university presses from the Global South, and, surprisingly, 30 predatory publishers that together publish 4.517 journals.
Research limitations/implications
Additional data sources could be used to mitigate remaining biases; it is difficult to disambiguate publisher names and their imprints; and the dataset carries a non-uniform distribution, thus risking the omission of data points in the lower range.
Practical implications
The dataset can serve as a useful basis for comprehensive meta-scientific surveys on the publisher-level.
Originality/value
The catalogue can be deemed more inclusive and diverse than other ones because many of the publishers would have been overlooked if one had drawn from merely one or two sources. The list is freely accessible and invites regular updates. The approach used here (webscraping) has seldomly been used in meta-scientific surveys.
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This study explores the motivations underlying the European Super League (SL) breakaway attempt. While institutional settings bind football to tradition, investors conceive…
Abstract
Purpose
This study explores the motivations underlying the European Super League (SL) breakaway attempt. While institutional settings bind football to tradition, investors conceive football companies as an opportunity to diversify their investments in a fast-growing technological industry. The study investigates the market structure and identifies the reasons behind the European football crisis, proposing to modify the role of Union of European Football Associations (UEFA) in the European football market.
Design/methodology/approach
After summarizing the unusual features of the European football market, the article displays the agents involved and their interrelations. Modeling the market facilitates picturing the misalignment of targets of regulatory bodies and football clubs. It also helps visualize the potential consequences of the SL coup on the market.
Findings
The market does not allow football companies to monetize their business and compete with other entertainment sectors. Only a radical change in the balance of power between clubs and self-interested institutional settings can settle this situation. Indeed, this relation leads to market inefficiency because the two most critical clubs' financial problems (the high dependence on broadcasting revenues and the uncontrolled expenditures on players' salaries) are linked to the same issue: the governing bodies strongly influence the profit equation by holding control of media rights and incentivizing clubs to overspend to win both on-field and off-field.
Originality/value
This study is the first to assess the football business market using an evolutionary approach to address its problems. It offers a visualizing tool to understand the market and proposes an alternative solution for solving the football market crisis.
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Abstract
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