Search results

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The purpose of this paper is to explore the impact of product market competition on the risk of stock price crash based on the degree of industry competition and the competitive position of enterprises.

This paper chooses the data of Shanghai and Shenzhen A-share listed companies from 2009 to 2017 as samples and uses a threshold regression model to explore the impact of product market competition on the risk of a stock price crash.

The results show that: the overall level of industry competition is negatively correlated with the risk of stock price crash; the competitive position of enterprises and the risk of a stock price crash. The correlation is not significant: for high competitive enterprises, the degree of industry competition is negatively correlated with the risk of stock price crash; for low competitive enterprises, the degree of industry competition is positively correlated with the risk of a stock price crash and the conclusions obtained have passed the robustness test.

This paper not only enriches the literature on the relationship between product market competition and the risk of stock price crash but also has reference significance for supervisors to allocate resources to supervise information disclosure of listed companies.

The study aims to examine the impacts of management practices on innovation along with the mediating and moderating role of degree of competition, business environment and environmental policies.

Data were derived from the World Bank Enterprise Survey 2019 for Greece, Italy, Turkey, Portugal and Jordan and analyzed by using PLS-SEM to find results.

Findings revealed that management practices have positive significant relationship with the innovation among firms for Greece, Turkey, Portugal and Jordan but surprisingly insignificant relationship in Italy. Further, management practices have positive significant relationship with the environmental policies, business environment and degree of competition among firms in Greece, Italy, Turkey, Portugal and Jordan. In addition, environmental policies, business environment and degree of competition have positive significant relationship with innovation among firms in Greece, Italy, Turkey, Portugal and Jordan.

These useful insights would enable practitioners and policy makers to develop and apply more influential management practices to boost up the level of innovation among firms.

Although the topics of management practices and innovation have received a great concern of academia, but this is the first study that offers a comprehensive model of the relationship in these domains.

Examines empirical evidence of firm behaviour over time in Germany’s cellular market. Shows operators concentrated initially on product characteristics competition, to avoid price competition. Posits decreasing degrees of product differentiation, not increasing operator numbers, was the chief cause of price decline.

This study aims to evaluate the two-way relationship between management practices and firm innovation along with the dual mediation of business environment, degree of competition and energy policies in Greece, Italy, Turkey and Portugal.

The study has derived data from the World Bank Enterprise Survey 2019 for Greece, Italy, Turkey and Portugal and analyzed through partial least squares structural equation modelling (PLS-SEM) to find results.

The outcomes of PLS-SEM revealed that management practices and firm innovation have two-way positive significant relationship with each other in Greece, Italy, Turkey and Portugal. The results exposed that the management practices and firm innovation have two-way positive significant relationship with the business environment, degree of competition, and energy policies in Greece, Italy, Turkey and Portugal. The findings also clarified that the business environment, degree of competition and energy policies have dual mediating role between management practices and firm innovation in Greece, Turkey and Portugal. Surprisingly, business environment does not have dual mediation in Italy.

These useful insights would enable practitioners and direct policymakers to develop and apply more magnificent management practices to boost up innovation among firms.

Although the topics of management practices and innovation have received a great concern of academia, but this is the first study that offers a comprehensive model of the relationship in these domains.

This study aims to investigate both market concentration and bank competition of banking across six emerging Asian countries (e.g., Bangladesh, Indonesia, India, Philippines, Malaysia, and Vietnam) over pre and post the 2008 global financial crisis. The conduct parameter approach following the framework suggested by Uchida and Tsutsui (2005) is used to estimate bank competition in these countries. The study employs both seemingly unrelated regression (SUR) and three-stage least squares (3SLS) to estimate simultaneously the system of equations in our model. Generally we find a negative association between market concentration and bank competition across most of the countries in the study suggesting that banks in concentrated markets collude to generate higher profits. Monopolistic competition was the best description of competitive structure of banking across the majority of countries investigated by this study. The study fills the gap in the banking literature by investigating bank competition, concentration, and their relationship across emerging Asian economies over the 2008 global financial crisis. Moreover, several policy implications for banking industry are suggested.

Banks are institutions that inject money in the economy and help to boost it when there are problems in some markets, especially in productive sectors. In this way, analysing the competition in this sector is an important tool for policymakers as non-competitive behaviour could affect the financial system and economy. The purpose of this paper is to measure the degree of competition in the Ecuadorian private banking sector divided by size, from 2000 to 2015, using panel data collected by the official regulator institution.

The authors applied the model proposed by Panzar and Rosse (1987) and its H-statistic using a reduced price and revenue equation estimated by pooled ordinary least squares, fixed effects, random effects, feasible generalised fixed effects and panel correction standard errors (PCSE).

The authors show that given the presence of some problems in data such as heteroskedasticity and autocorrelation, the most appropriate technique is PCSE. The authors also found robust evidence supporting that large banks compete in a monopolistic market, small and medium-sized banks operate in monopolistic competition, and Ecuadorian small, medium-sized and large banks stay in long-run equilibrium.

This paper contributes to the actual literature of competition degree in two ways. First, different from traditional papers, we do not control by size; so, we divided the analysis by size, because in Ecuador and also in many developing countries, bank’s competition is different for each group of size because the levels of liquidity, risk and other indicators are different from one group to another. Second, we show the robustness of the results using a scaled and unscaled equation, using many controls and using five methods to contrast the competition degree.

The expansion of the Islamic banking industry seems to accentuate the banking competition in MENA and Southeast Asia where conventional and Islamic banks coexist. In this context, the research aims\ to examine the competitive conditions and the market power of the conventional and Islamic banks during the period 2004-2009 in MENA and Southeast Asia region.

The authors use a variety of structural and non-structural measures related to the traditional approach and the new empirical approach of the industrial organization. The methodology is based on set of measures of the competition and market power. The first measure is a set of concentration ratios (C3, C5) and Herfindahl-Hirschman index (HHI). The second measures are the Panzar and Ross H statistic and the Lerner index based on econometric estimations with the aim of evaluating the structure of market and measuring its power in terms of price setting.

The results indicate that under the HHI index, both markets are low concentrated, while according to the concentration ratios, the Islamic market is considered as moderately concentrated. The estimations results, through the H-PR-statistic of Panzar and Ross related to degree of competition and the Lerner index of market power, indicate that both markets are characterized by a monopolistic competition and the Islamic banking expressed a high degree of market power.

The research focuses exclusively on the countries where the data are available and excludes the other countries where competition and market power might have different forms.

In a competitive environment, each bank is required to analyze the structure of its market and competitive conditions, in order to develop a business strategy and effective action plans. In the context of the multiplication of the Islamic banks in the MENA and Southeast Asia, the enhancement of Islamic bank competitiveness by offering new products is determinant for their success.

To the best of the authors' knowledge few studies have examined this subject in a comparative analysis between the Islamic and conventional banks. So the authors contribute to the literature on Islamic banking by considering a sample of Islamic and conventional banks operating in the same countries in order to examine the existence or not of difference between them.

The paper measures the degree of bank competition in Indian banking over the period 1996–2016. Using bank-level annual data, we revisit the case of banking competitiveness during the prefinancial and postfinancial crisis and examine whether the global financial crisis alters the level of bank competition in India. Additionally, this paper addresses the misspecification issues associated with the widely used Panzar–Rosse model in Indian banking context.

We apply Panzar and Rosse (1987) H-statistic and evaluate the degree of bank competition by estimating the extent to which changes in input prices are reflected in revenues earned by banks. Subsequently, we link this measure of competitiveness to a number of structural indicators (HHI and CRn) to examine the structure-conduct-performance hypothesis, which assumes that a concentrated banking system can impair competition. The simple panel regression model was used to handle the empirical estimations.

findings reveal that the Indian banking system operates under competitive conditions and earns revenues as if under the monopolistic competition. We also find evidence that Indian banks are competitive, even under a concentrated market structure. This observation runs, in contrary, to the prediction of the structure–conduct–performance hypothesis. The findings also indicate the differences in the estimated H-statistic value after considering the misspecifications of the P–R model.

From policy perspectives, policymakers should focus more on maintaining an optimal level of bank competition by mitigating entry restrictions, exercising less consolidation and withdrawing overregulation from banking activities. A competitive banking industry ensures both efficiency and stability.

A competitive banking sector by lowering interest rates margin provides easier access to finance to both households and small and medium enterprises (SMEs).

This is the only study that addresses the misspecification of the P–R model while assessing competition in Indian banking and provides a thorough understanding of the role of concentration on bank competition.

This paper aims to analyze the impact of the degree of local government decision-making competition on the optimal investment amount, investment location and investment failure of innovative investment enterprise under multiple risk appetite type of innovative investment enterprise. This paper also points out three regulation paths that central government could use to avoid the influence of local government decision-making competition on the validity of enterprise innovation investment (EII).

Based on analysis frame of government competition about unitary government states, this paper builds duopoly decision model to analyze influence of local government decision-making competition on EII. Considering information asymmetry and multiple risk appetite type of decision-maker, this paper analyzes influence of local government decision-making competition on location selection, the optimal investment amount, identification of investment failure and exit mechanism of EII according to different relationship between reference points of local government decision-making competition and EII.

The optimal investment amount of EII has positive correlation with risk appetite type of decision-maker, local government decision-making competition. Identification of investment failure and exit are divided into three phases. The boundary conditions are directly related to risk appetite type and amount of local government subsidy. Regional factor endowment and degree of preferential policy are main factors attracting enterprise investment. Local governments should analyze the interests of EII. There are three paths to avoid vicious competition among local governments: unified planning, revising of audit index, increasing penalties for failure of policies.

With rapid development of China's new urbanization process, urban economy has become an important carrier of economic development. Attracting foreign direct investment is an important measure to promote urban economic growth, and EII is the most important one. However new urbanization would lead to local government decision-making competition and then influence EII. Through analyzing influence of local government decision-making competition on EII, theory guidance could be provided to decision makers of innovation investment.