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Article
Publication date: 15 December 2023

Tanvir Alam Shahi Md. and Sarolta Somosi

The present study aims to provide a roadmap for meeting the carbon-free, green energy production target within the stipulated period while also considering climate targets through…

Abstract

Purpose

The present study aims to provide a roadmap for meeting the carbon-free, green energy production target within the stipulated period while also considering climate targets through a sustainable auctioning scheme.

Design/methodology/approach

The research outlines the opportunity to design auctions based on qualitative research, the impact of auctions on energy costs and thus the feasibility of suggested auctioning schemes based on country-specific empirical evidence and benefits.

Findings

The conclusions show that this may result in various advantages for emerging economies relating to technology-neutral site-specific auctions if designed according to state-specific socio-economic conditions.

Originality/value

The planned addition to the state-of-the-art in the renewable energy (RE) field of this paper is that it intends to bridge the gap between theory and practice. The analysis has concepts for research, practice and/or community. Thus, it can serve as a primary source of literature reference for those willing to learn more about the aspects of cost related to RE.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 20 April 2023

Dipankar Das

This paper gives a model of collusion formation and a method of measuring the degree of it among the traders/bidders in the agricultural commodity markets in India. The important…

Abstract

Purpose

This paper gives a model of collusion formation and a method of measuring the degree of it among the traders/bidders in the agricultural commodity markets in India. The important assumption is that the bidding is repetitive with a set of common bidders. The theory has been derived based on the behavior of the wholesale market of agricultural commodities in India. The paper is based on full information in the collusion formation. The paper first derives the theoretical structure of the bidders' behavior and thereafter derives a measure of collusion formation with the help of real-life data.

Design/methodology/approach

The paper used the standard theory of optimization and the theory of auction and probability statistics.

Findings

This is a complete information model of cartel formation. The bidding is repetitive and continues forever in discrete time. Hence bidders behavior is observable. Using the proposed method, if the APMC measures for each market and publishes on a periodic basis, say weekly basis, then it will be easier to break the collusion in the market where relative collision is present. For example, if a farmer has three options to sell in three different markets, then the published data would help them to select the market where the degree of collusion is relatively lower. Moreover, the undesirable loss can be avoided based on the right choice of market. As a result, transaction costs will be optima.

Originality/value

The paper first derives the theoretical structure of the bidders' behavior and thereafter derives a measure of collusion formation with the help of real-life data.

Details

Journal of Economic Studies, vol. 50 no. 8
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 20 December 2023

Ernan E. Haruvy and Peter T.L. Popkowski Leszczyc

This paper aims to demonstrate that Facebook likes affect outcomes in nonprofit settings. Specifically, Facebook likes influence affinity to nonprofits, which, in turn, affects…

Abstract

Purpose

This paper aims to demonstrate that Facebook likes affect outcomes in nonprofit settings. Specifically, Facebook likes influence affinity to nonprofits, which, in turn, affects fundraising outcomes.

Design/methodology/approach

The authors report three studies that establish that relationship. To examine social contagion, Study 1 – an auction field study – relies on selling artwork created by underprivileged youth. To isolate signaling, Study 2 manipulates the number of total Facebook likes on a page. To isolate commitment escalation, Study 3 manipulates whether a participant clicks a Facebook like.

Findings

The results show that Facebook likes increase willingness to contribute in nonprofit settings and that the process goes through affinity, as well as through Facebook impressions and bidding intensity. The total number of Facebook likes has a direct signaling effect and an indirect social contagion effect.

Research limitations/implications

The effectiveness of the proposed mechanisms is limited to nonprofit settings and only applies to short-term effects.

Practical implications

Facebook likes serve as both a quality signal and a commitment mechanism. The magnitude of commitment escalation is larger, and the relationship is moderated by familiarity with the organization. Managers should target Facebook likes at those less familiar with the organization and should prioritize getting a potential donor to leave a like as a step leading to donation, in essence mapping a donor journey from prospective to active, where Facebook likes play an essential role in the journey. In a charity auction setting, the donor journey involves an additional step of bidder intensity.

Social implications

The approach the authors study is shown effective in nonprofit settings but does not appear to extend to corporate social responsibility more broadly.

Originality/value

To the best of the authors’ knowledge, this study is the first investigation to map Facebook likes to a seller’s journey through signals and commitment, as well as the only investigation to map Facebook likes to charity auctions and show the effectiveness of this in the field.

Details

European Journal of Marketing, vol. 58 no. 1
Type: Research Article
ISSN: 0309-0566

Keywords

Case study
Publication date: 20 November 2023

Adrian David Saville, Mluleki Shongwe and Amy Fisher Moore

On completion of the case study, students will understand the following learning objectives: the characteristics of quantitative easing (QE) and when it may be appropriate to…

Abstract

Learning outcomes

On completion of the case study, students will understand the following learning objectives: the characteristics of quantitative easing (QE) and when it may be appropriate to implement QE; how QE differs from a conventional bond purchasing programme; the impact of direct financing of the fiscus by the central bank on its independence; how the macro-economic and political environments affect and influence national economic policy; the difference between traditional and unconventional monetary policies and potential implications for an economy like South Africa. The learnings from this case study can be used in other global economic environments, particularly in emerging markets. This case study provides valuable insights into decision-making, institutional independence, policy coordination, deficit financing, causes and consequences of price inflation, risks relating to monetary instability and the correct application of monetary policy.

Case overview/synopsis

After the announcement of the COVID-19-related lockdown in March 2020 and the subsequent slow-down of economic activity in South Africa, the South African Reserve Bank (SARB) had to consider appropriate macro-economic tools to ensure both price and financial stability in South Africa. The macro-economic policy tools had to be considered in light of the South African economic context, which included acknowledgement of South Africa’s debt crisis and slow economic growth. The central bank responded by introducing the following measures: reducing interest rates to a record low of 3.5% to give consumers financial relief and to promote spending in the economy; purchasing government bonds in the secondary markets to stabilise financial markets; facilitating the loan guarantee scheme that was aimed at providing financial relief to small- and medium-sized enterprises; relaxing the capital and liquidity adequacy requirements that commercial banks are required to meet; and ensuring availability of liquidity to banks through facilities such as the weekly repo auctions. However, despite introducing these interventions, the SARB faced calls from politicians, analysts and academics to do more. Various commentators argued that the SARB could introduce QE and directly finance government spending by purchasing government bonds. Some commentators argued that the reluctance of the SARB to pursue these suggestions was a result of the close alignment and relationship between the SARB and National Treasury. The dilemma faced by Governor Lesetja Kganyago of the SARB was threefold, namely, whether it was appropriate for the central bank to pursue the initiatives and, if so, whether the bank could pursue them without compromising its independence, and if the introduction of those initiatives would not adversely affect the ability of the central bank to fulfil its mandate of price stability and financial stability. In this regard, the governor and his executive team were required to consider the long-term implications of introducing the initiatives on consumer price inflation, independence of the SARB and the appropriate use of monetary policy tools to fulfil the central bank’s mandate. But the question was: What policies should the governor favour?

Complexity academic level

This case study is based on various macro-economic theories. Therefore, it would be useful to teach this case study in macro-economic courses in the following programmes: master’s in business administration, bachelor of commerce, bachelor of economic sciences and business science studies, as well as on executive education programmes, which consider macro-economic policy. In general, students who undertake economics, business and general management, finance, legal, commerce and banking studies could learn from this case study.

Supplementary materials

Teaching notes are available for educators only.

Subject code

CSS 3: Entrepreneurship.

Details

Emerald Emerging Markets Case Studies, vol. 13 no. 4
Type: Case Study
ISSN: 2045-0621

Keywords

Article
Publication date: 26 February 2024

Xiaohui Jia, Chunrui Tang, Xiangbo Zhang and Jinyue Liu

This study aims to propose an efficient dual-robot task collaboration strategy to address the issue of low work efficiency and inability to meet the production needs of a single…

Abstract

Purpose

This study aims to propose an efficient dual-robot task collaboration strategy to address the issue of low work efficiency and inability to meet the production needs of a single robot during construction operations.

Design/methodology/approach

A hybrid task allocation method based on integer programming and auction algorithms, with the aim of achieving a balanced workload between two robots has been proposed. In addition, while ensuring reasonable workload allocation between the two robots, an improved dual ant colony algorithm was used to solve the dual traveling salesman problem, and the global path planning of the two robots was determined, resulting in an efficient and collision-free path for the dual robots to operate. Meanwhile, an improved fast Random tree rapidly-exploring random tree algorithm is introduced as a local obstacle avoidance strategy.

Findings

The proposed method combines randomization and iteration techniques to achieve an efficient task allocation strategy for two robots, ensuring the relative optimal global path of the two robots in cooperation and solving complex local obstacle avoidance problems.

Originality/value

This method is applied to the scene of steel bar tying in construction work, with the workload allocation and collaborative work between two robots as evaluation indicators. The experimental results show that this method can efficiently complete the steel bar banding operation, effectively reduce the interference between the two robots and minimize the interference of obstacles in the environment.

Details

Industrial Robot: the international journal of robotics research and application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-991X

Keywords

Article
Publication date: 13 March 2024

Zahra Tohidinia

This paper aims to study antiques enthusiasts’ perspectives on the recent stagnancy in the antiques market, along with their suggestions on how the antiques trade can forge a more…

Abstract

Purpose

This paper aims to study antiques enthusiasts’ perspectives on the recent stagnancy in the antiques market, along with their suggestions on how the antiques trade can forge a more secure path forward.

Design/methodology/approach

Using a qualitative analysis approach through netnography, this paper examines archived comments of antiques enthusiasts on a “r/antiques” subreddit.

Findings

This research studies connoisseurs’ insights into the reduction in antiques sales experienced by a wide cross-section of sellers, particularly independent and small business retailers. Specifically, the results of this paper’s discourse analysis show that technological advances on one hand and socioeconomic factors (e.g. income, family structure and lifestyle) on the other hand have had a significant negative impact on demand for antiques. In addition, specific attributes such as authenticity and sustainability emerged as potential key marketing elements for invigorating the broader public’s interest in purchasing antiques.

Originality/value

Despite their significant insights into the antiques market, antiques enthusiasts have not received the academic attention they deserve. Through discourse analysis of comments in an online antiques community, this paper draws attention to the vulnerabilities of antiques markets to a protracted climate of slow sales, while highlighting potential strategies on how to turn the tide for struggling antiques stores.

Details

Journal of Historical Research in Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-750X

Keywords

Article
Publication date: 21 February 2024

Mohammad Esmaeil Nazari and Zahra Assari

This study aims to solve optimal pricing and power bidding strategy problem for integrated combined heat and power (CHP) system by using a modified heuristic optimization…

Abstract

Purpose

This study aims to solve optimal pricing and power bidding strategy problem for integrated combined heat and power (CHP) system by using a modified heuristic optimization algorithm.

Design/methodology/approach

In electricity markets, generation companies compete according to their bidding parameters; therefore, optimal pricing and bidding strategy are solved. Recently, CHP units are significantly operated by generation companies to meet power and heat, simultaneously.

Findings

For validation, it is shown that profit is improved by 0.04%–48.02% for single and 0.02%–31.30% for double-sided auctions. As heat price curve is extracted, the simulation results show that when CHP system is integrated with other units results in profit increase and emission decrease by 3.04%–3.18% and 2.23%–4.13%, respectively. Also, CHP units significantly affect bidding parameters.

Originality/value

The novelties are pricing and bidding strategy of integrated CHP system is solved; local heat selling is considered in pricing and bidding strategy problem and heat price curve is extracted; the effects of CHP utilization on bidding parameters are investigated; a modified heuristic and deterministic optimization algorithm is presented.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Case study
Publication date: 6 December 2023

Sobhesh Kumar Agarwalla and Ajay Pandey

This case describes the growth of ReNew Power during its first decade of operation. Sumant Sinha, a first-generation entrepreneur and former banker, founded the company, which…

Abstract

This case describes the growth of ReNew Power during its first decade of operation. Sumant Sinha, a first-generation entrepreneur and former banker, founded the company, which grew from a modest generator-cum-developer of wind energy-based electricity to one of India's largest companies in the renewable energy sector. With the entry of large, well-funded players such as Tata Power and Adani Green into the Indian renewable sector by the end of 2020, Sinha had to make a strategic decision: should ReNew continue to organically scale up its presence in an increasingly competitive yet expanding Indian renewable energy sector, should it diversify geographically, or should it pursue emerging opportunities for vertical or horizontal integration within the sector? The case provides an opportunity to discuss how alternative business models and competitive scenarios may facilitate or inhibit the growth of a player in the renewable energy sector.

Details

Indian Institute of Management Ahmedabad, vol. no.
Type: Case Study
ISSN: 2633-3260
Published by: Indian Institute of Management Ahmedabad

Keywords

Article
Publication date: 14 August 2023

Rio Erismen Armen, Engku Rabiah Adawiah Engku Ali and Gemala Dewi

This study aims to investigate beneficial right as a new legal concept and term accepted by the Indonesian legal system. The new concept was ratified to endorse government…

Abstract

Purpose

This study aims to investigate beneficial right as a new legal concept and term accepted by the Indonesian legal system. The new concept was ratified to endorse government decision to use ṣukūk (as an Islamic financial instrument) in the financing of state budget deficit. Some legal issues emerged after the ratification such as the necessity to synchronize the beneficial right with other property rights in Indonesia and the disharmony between laws related to sovereign ṣukūk issuance.

Design/methodology/approach

The study uses a qualitative method with library study and interviews with relevant legal experts in Indonesia as the data collection techniques.

Findings

The findings show that the passage of Sovereign Ṣukūk Law 2008 that ratified beneficial right deemed as a concession point by the government to solve conflicts between legal restriction and employment of state-owned assets as the underlying asset of sovereign ṣukūk. The study deemed the necessity to improve the use of beneficial right in the Indonesian legal system which by the concept is not exercised for the issuance of sovereign ṣukūk only. There is the need to harmonize the administration of this right with other property rights in Indonesia.

Research limitations/implications

The scope of study will be limited to the Indonesian regulation related to the use of beneficial right concept in the issuance of sovereign ṣukūk in Indonesia. The regulation as mentioned will be in the form of statutes, presidential or ministerial regulations, and also opinions of Indonesian legal and sharīʿah scholars regarding the matter.

Originality/value

This study may explore significantly the use of beneficial right for the issuance of sovereign ṣukūk by the Government of Indonesia. Specifically, the study reveals and addresses the issues that are following the ratification of beneficial rights originated from the common law system into the Indonesian civil law system.

Details

International Journal of Law and Management, vol. 65 no. 6
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 11 April 2023

Zeyneb Hafsa Orhan, Sajjad Zaheer and Fatih Kazancı

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain…

Abstract

Purpose

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain and; second, to suggest how monetary policy tools in Turkey can be used in other countries.

Design/methodology/approach

This study follows a qualitative research method based on literature review, comparison, evaluation and design.

Findings

The policy rate cannot be used due to Shariah concerns. The reserve requirement depends on qard, and the reserves should be kept separately in the central bank. In terms of ijarah sukuk, Shariah concerns should be taken into account and a new structure, as displayed in Figure 3, should be followed. Government investment certificates can be used as an interest-free monetary policy tool. A genuine mudarabah interbank investments can also be used. Wadiah acceptance with no habitual gift can be used as well, and Tawarruq and central bank notes are not preferable due to Shariah concerns as well. Having said that, a Turkey-based tawarruq platform can be structured for others to use instead of applying to London.

Originality/value

This paper’s unique suggestion is to develop an interbank taqaruz market and a taqaruz method with the central bank. It is also unique for Turkey in the subject.

Details

Qualitative Research in Financial Markets, vol. 16 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

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