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1 – 10 of 13Akbar Marvasti and David W. Carter
The purpose of this paper is to provide an economic analysis of the sources of supply to the US shrimp market.
Abstract
Purpose
The purpose of this paper is to provide an economic analysis of the sources of supply to the US shrimp market.
Design/methodology/approach
The paper uses monthly time series data to estimate a simultaneous equations model with equations for domestic supplies from the Gulf of Mexico, imports, and prices.
Findings
Estimated long-run elasticities suggest that the domestic shrimp supply appears to be explained by seasons, diesel fuel price, hurricane activity, and shrimp price. The authors find evidence of a downward-slopping supply curve for the domestic harvesters that is likely to be temporary. Furthermore, anti-dumping duties have been ineffectual in curtailing imports produced by exploitation of natural shrimp biomass in developing countries and by technological advancements in aquaculture production. The authors also find evidence of a low exchange rate pass through. Finally, while domestic and import prices are not cointegrated, there is a two-way causality between them.
Practical implications
The authors found evidence that shrimp prices have fallen as import supply, due to technological advances in aquaculture, has risen faster than the US domestic demand over time suggesting a downward sloping supply curve. Also, the falling value of the US dollar has discouraged the imports, while the anti-dumping duties appear to have had little influence on the aggregate level of imports.
Originality/value
It provides a thorough investigation of the supply side of an important component of the US seafood market displaying the complexity of domestic producers’ reaction to falling prices, and ineffectual protectionism.
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Bhaskar Bagchi, Dhrubaranjan Dandapat and Susmita Chatterjee
Ellen Goddard, Albert Boaitey, Getu Hailu and Kenneth Poon
The purpose of this paper is to evaluate cow-calf producer incentive to adopt innovations in traits with important environmental and economic implications for the beef supply…
Abstract
Purpose
The purpose of this paper is to evaluate cow-calf producer incentive to adopt innovations in traits with important environmental and economic implications for the beef supply chain.
Design/methodology/approach
A whole farm multi-year farm optimization model that tracks changes in discounted net returns and methane emissions from the use of newer DNA-related technologies to breed for feed efficient cattle is developed. The analysis is situated within the context of whole beef cattle supply chain. This allows for the derivation of the entire value and environmental impact of the innovation, and the decomposition of value by different participants. The impact of different policies that can stimulate producer uptake and the diffusion of the innovation is also addressed.
Findings
The results of the study showed that whilst the use of the breeding technology yielded positive economic and environmental benefits to all producers in the supply chain, primary adopters were unlikely to adopt. This paper finds evidence of the misalignment in incentives within the supply chain with a significant proportion of the additional value going to producers who do not incur any additional cost from the adoption of the innovation. The study also highlighted the role of both public and market-based mechanisms in the innovation diffusion process.
Originality/value
This paper is unique as it is the first study that addresses producer incentive to adopt genomic selection for feed efficiency across the entire beef cattle supply chain, and incorporates both economic and environmental outcomes.
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Kwon Jung and Leslie Tey
Past research on brand extensions has been searching for conditions for successful brand extensions. Two contradictory response patterns between fit levels and extension…
Abstract
Purpose
Past research on brand extensions has been searching for conditions for successful brand extensions. Two contradictory response patterns between fit levels and extension evaluation have been observed in past studies. This study attempts to synthesize these seemingly contradicting past findings by considering a situational factor (i.e. situational involvement) and a consumer personality factor (i.e. consumer innovativeness) as moderating factors for the effect of extension similarity on evaluation of brand extensions.
Design/methodology/approach
An experimental design with three factors (i.e. extension similarity, consumer innovativeness, and situational involvement) is used to test the hypotheses.
Findings
It was found that, under the high involvement condition, innovative subjects show a pattern suggested by the inverted U‐shaped hypothesis in their extension evaluations. Subjects in other conditions, on the other hand, show a pattern suggested by the fit hypothesis.
Practical implications
The findings of the study provide useful implications to marketers who are considering brand extensions. Marketers may need different strategies depending on the degree of extension similarity and the characteristics of their target customers.
Originality/value
By identifying boundary conditions for successful brand extension, the findings of the study contribute to increase understanding in the brand extension literature.
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Aims to examine the four different management accounting systems or sets that existed at the Hudson's Bay Company (HBC) during the 1670‐2005 period with Burns and Scapens'…
Abstract
Purpose
Aims to examine the four different management accounting systems or sets that existed at the Hudson's Bay Company (HBC) during the 1670‐2005 period with Burns and Scapens' institution‐based framework of management accounting change.
Design/methodology/approach
A case study was used with comprehensive archival evidence coming mainly from the Hudson's Bay Company Archives (HBCA) and the HBC's private archive for 1670‐1970 and from interviews with retired and existing senior managers at the HBC for 1970‐2005.
Findings
The findings indicated that Burns and Scapens' framework was helpful. Institutions did prevent management accounting changes, even when seriously needed. Under certain conditions, institutions do not resist management accounting changes. Six suggestions are provided for extending and refining Burns and Scapens framework.
Research limitations/implications
Although the 325 years of evidence was uniquely rich, it was still a case study of a single firm.
Practical implications
Management accounting is slow to change because of institutions.
Originality/value
Management accounting change is very much path‐dependent. Changes occur in management accounting because of major external changes such as competition and modernization. Also, management accounting changes come from the introduction of taken‐for‐granted external techniques such as budgeting, capital budgeting, and planning.
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This chapter reviews the existing empirical evidence on how social insurance affects health. Social insurance encompasses programs primarily designed to insure against health…
Abstract
This chapter reviews the existing empirical evidence on how social insurance affects health. Social insurance encompasses programs primarily designed to insure against health risks, such as health insurance, sick leave insurance, accident insurance, long-term care insurance, and disability insurance as well as other programs, such as unemployment insurance, pension insurance, and country-specific social insurance programs. These insurance systems exist in almost all developed countries around the world. This chapter discusses the state-of-the art evidence on each of these social insurance systems, briefly reviews the empirical methods for identifying causal effects, and examines possible limitations to these methods. The findings reveal robust and rich evidence on first-stage behavioral responses (“moral hazard”) to changes in insurance coverage. Surprisingly, evidence on how changes in coverage impact beneficiaries’ health is scant and inconclusive. This lack of identified causal health effects is directly related to limitations on how human health is typically measured, limitations on the empirical approaches, and a paucity of administrative panel data spanning long-time horizons. Future research must be conducted to fill these gaps. Of particular importance is evidence on how these social insurance systems interact and affect human health over the life cycle.
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Jie Wu, Xinhe Zhang, Shuaihe Zhuo, Martin Meyer, Bin Li and Haifeng Yan
The authors attempt to answer the basic questions: How is imitation tied to innovation? This question is addressed in the context of China's innovation system in the 2000s where…
Abstract
Purpose
The authors attempt to answer the basic questions: How is imitation tied to innovation? This question is addressed in the context of China's innovation system in the 2000s where Chinese industrial firms simultaneously implement innovation and imitation strategies in their new product developments.
Design/methodology/approach
The authors first build on lattice theory and supermodularity theory to provide a rigorous and careful mathematical proof. The authors further conduct the empirical analyses using an original data on Chinese manufacturing firms' innovation and imitation strategies in the development of new products in 2002.
Findings
This article reveals the complementarity relation between imitation and innovation strategies and identifies external knowledge search as the boundary condition that influences the extent to which two strategies reinforce each other.
Research limitations/implications
The findings of the imitation-innovation complementarity suggest that imitation is not only an indispensable strategy independent of innovation, but also is vital to the effectiveness of innovation itself.
Practical implications
The imitation-innovation complementarity finding provides some evidence for the contention that Chinese latecomers exploit the synergies of imitation and innovation, transforming themselves from imitators to innovators and vibrant competitors in the global market (Wu et al., 2016) and, as a result, national innovation system has evolved from a state-sponsored imitation program to the imitation-innovation mixture.
Originality/value
In contrast to earlier innovation studies in which innovation and imitation are unrelated, this study reveals that imitation complements innovation, and the extent of Chinese firms' external knowledge search affects the complementary relationship between imitation and innovation. These findings add important insights to the innovation management literature and contribute empirical evidence to the interplay of innovation and imitation enhancing national innovation system.
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While it has been claimed in many empirical studies that the political futures market can forecast better than the polls, it is unclear upon which our forecast should be based…
Abstract
While it has been claimed in many empirical studies that the political futures market can forecast better than the polls, it is unclear upon which our forecast should be based. Standard practice seems to suggest the use of the closing price of the market, as a reflection of the continuous process of information revealing and aggregation, but we are unsure that this practice applies to thin markets. In this chapter, we propose a number of reconstructions of the price series and use the closing price based on these reconstructed series as the forecast. We then test these ideas by comparing their forecasting performance with the closing price of the original series. It is found that forecasting accuracy can be gained if we use the closing price based on the smoothing series rather than the original series. However, there is no clear advantage by either using more sophisticated smoothing techniques, such as wavelets, or using external information, such as trading volume and duration time. The results show that the median, the simplest smoothing technique, performs rather well when compared with all complications.
Afees Adebare Salisu, Aliyu Akorede Rufai and Modestus Chidi Nsonwu
This study aims to construct alternative models to establish the dynamic relationship between exchange rates and housing affordability by estimating both the short- and long-run…
Abstract
Purpose
This study aims to construct alternative models to establish the dynamic relationship between exchange rates and housing affordability by estimating both the short- and long-run relationship between exchange rates and housing affordability for 18 OECD countries from 1975Q1 to 2022Q4. After that, this study demonstrates how this nexus behaves during high and low inflation regimes and turbulent times.
Design/methodology/approach
This study uses the panel autoregressive distributed lag technique to examine the nexus between housing affordability to capture the distinct characteristics of the sample countries and estimate various short- and long-run dynamics in the relationship between housing affordability and exchange rate.
Findings
Exchange rate appreciation improves housing affordability in the short run, whereas this connection tends to dissipate in the long run. Moreover, inflation can worsen housing affordability during turbulent times, such as the global financial crisis, in both the short and long run. Ignoring these changes in the relationship between exchange rates and housing affordability during turbulent times can lead to incorrect conclusions.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine the association between exchange rates and housing affordability by demonstrating how these variables behave in high and low inflation regimes and turbulent times.
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