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1 – 10 of over 12000Jeffrey E. Johnson and Peter Haug
The purpose of this study is to explore modifications to the supply chain strategies of international manufacturers resulting from recent momentous trade disruptions, including…
Abstract
Purpose
The purpose of this study is to explore modifications to the supply chain strategies of international manufacturers resulting from recent momentous trade disruptions, including the US-China trade war, global tariff escalations, Brexit and heightened geopolitical tensions.
Design/methodology/approach
The research methodology consisted of a series of in-depth personal interviews with senior supply chain executives of six large US international manufacturers.
Findings
The study identified several short-term reactive strategies taken, including pulling purchase orders or production forward, building inventory and applying for exceptions from tariffs, along with longer-term proactive strategies such as shifting and expanding supplier and manufacturing locations.
Research limitations/implications
The study’s limitations involve its small sample size and its findings being industry and company-specific to a limited number of firms. While the sample size was deemed sufficient for this exploratory study, larger sample sizes and subsequent industry-specific analyses are recommended.
Practical implications
The global supply chain modifications effectively used by the firms in the study can offer guidance for practitioners facing similar challenges following major trade disruptions.
Originality/value
Due to the very recent emergence of the trade disruptors examined in this study, extant literature is limited. Hence, the findings noted in the paper offer not only guidance for practitioners but also make a strong contribution to research and literature on global supply chain risk management and disruption risk mitigation.
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Keywords
INTERNATIONAL: Despite disruptions, trade will recover
Details
DOI: 10.1108/OXAN-ES260605
ISSN: 2633-304X
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Topical
Sabri Boubaker, Nga Nguyen, Vu Quang Trinh and Thanh Vu
The purpose of this paper is to study the market reactions of the banking industry to the Russian–Ukraine war.
Abstract
Purpose
The purpose of this paper is to study the market reactions of the banking industry to the Russian–Ukraine war.
Design/methodology/approach
This paper uses an event study methodology, regression analyses and interaction effects to study the effect of the war on banks stock prices and analyze factors that explain the cumulative abnormal return.
Findings
First, this study finds a significant decline of almost 1.5% in return on the war date. Similar patterns were observed for all continents, but Europe had the most severe drop of about 4%. Second, after excluding the contemporaneous influence of the whole market using the market model, global bank equities returns fell by about 1% on the war date, indicating that bank stocks were more severely impacted by the war than the average stock market. Net-of-market return approach further reveals that bank stock prices decreased 1.4% more on the event day compared to the prewar market average. Third, the impacts of the war and sanctions were persistent when the war continued. Banks stocks were most hit in Europe, Asia and North America.
Originality/value
This paper pioneers the study of the effect of the Russia–Ukraine war on the banking industry. This paper also analyzes the reaction pattern of bank stocks before, during and after the war to explain the behavior and expectations of investors toward the war.
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Syed Abdul Rehman Khan, Zhang Yu, Muhammad Umar, Ana Beatriz Lopes de Sousa Jabbour and Rahul S. Mor
This study aims to examine the impact of Covid-19 on social and eco-environmental sustainability. It will also investigate the effect of advanced technologies in the post-pandemic…
Abstract
Purpose
This study aims to examine the impact of Covid-19 on social and eco-environmental sustainability. It will also investigate the effect of advanced technologies in the post-pandemic era.
Design/methodology/approach
To get the robust findings, GMM (Generalized Method of Moments) modeling is employed on the panel data of 50 countries across the globe.
Findings
The outcomes indicate that gross fixed capital, logistical operations, knowledge spillover are positive, while Covid-19 is negatively associated with international trade. The results also revealed that Covid-19 spurs poverty and vulnerable employment, while the fertility rate increase creates pressure on economic growth. Also, fossil fuel and energy consumption contribute to carbon emission, while green and advanced technologies may mitigate the environment's adverse effects.
Originality/value
This study is the first of its kind to provide a solution to the challenges posed by the Covid-19 pandemic in the post-pandemic environment. Furthermore, researchers, managers and legislators can use this article's findings to formulate relevant policies for post-pandemic.
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Nashat Mahmoud Jaradt and Ijaz Ur Rehman
This research aims to focus on what has happened in light of the Greece legal crisis in terms of international contracts and what legal situations have arisen.
Abstract
Purpose
This research aims to focus on what has happened in light of the Greece legal crisis in terms of international contracts and what legal situations have arisen.
Design/methodology/approach
This research focuses on what has happened in light of the Greek legal crisis in terms of international contracts and what legal situations have arisen. The overall situation in relation to international contracts and risk mitigation is discussed to analyze the efforts that have been made. The state of affairs in the country with regard to facilitating financial trade and enabling Greeks to send payments abroad or at the rate they need to is also explored.
Findings
The effects of financial crisis on international trade contracts as they relate to commercial businesses without taking into consideration the wider contractual obligations that Greece, as a country, have already defaulted on. The crux of the current crisis is the fact that Greece did not stick to the commitments it made to the European Union when it joined the eurozone and took on euro as their currency, replacing the drachma. It is important to understand that due to the scope of the economic crisis in the Greece, it is not simply the other contractual party’s creditworthiness and trustworthiness that are at issue, it is their ability to keep any promises in whatever climate arises in their country.
Research limitations/implications
The study is based on the financial crisis in Greek. Further research is needed to investigate the applicability of the findings in different contexts.
Originality/value
The study findings are believed to be valuable for international commercial contracts with regard to the Greek debt crisis in discussing the financial legal situation, facilitating trade and enabling Greeks to send payments abroad or at the rate they need. The study contributes to a better understanding of international commercial contract system.
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H.F. Campbell, A. McIlgorm and B.M. Tsamenyi
Discusses marine environment management and maximization of the sustainable use and non‐use values of the flow of goods and services generated by that environment. Expands on the…
Abstract
Discusses marine environment management and maximization of the sustainable use and non‐use values of the flow of goods and services generated by that environment. Expands on the traditional economic model of fishery management to include the protection of non‐use values. Assesses international agreements made to include the protection of non‐use values of the marine environment, and examines the conflict between GATT rules and unilateral attempts to protect existence values. Proposes solutions based on the full cost pricing principle.
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Jada M. Thompson, Carlos J.O. Trejo-Pech and Dustin L. Pendell
The purpose of this paper is to determine the impact of 2014–2015 highly pathogenic avian influenza (HPAI), the largest animal health emergency in US history to date, on…
Abstract
Purpose
The purpose of this paper is to determine the impact of 2014–2015 highly pathogenic avian influenza (HPAI), the largest animal health emergency in US history to date, on agribusinesses’ market values.
Design/methodology/approach
Using the 2014–2015 HPAI outbreaks in US commercial poultry, event study analysis of meat processing and marketing companies is conducted to estimate the effects HPAI had on firm value and how these effects differed across meat marketing firms over distinct disease event dates. The analyses include an overall aggregate event study, chronological outbreak studies, and an analysis that separated firms specifically marketing poultry products from those marketing all other types of meat.
Findings
By tracing abnormal stock returns through the event dates, the results show heterogeneity of investors responses based on the nature of the event (i.e. backyard vs commercial flocks affected), timing of the event over the course of the entire HPAI outbreak, and if a firm marketed poultry products. Overall, negative abnormal returns, ranging from 2 to 4 percent of publicly traded meat processors’ equities, are predominant post-disease event. These negative effects are slightly higher, above 5 percent, for firms marketing poultry products.
Originality/value
This study is the first to analyze the effects of an HPAI outbreak on the market value of US agribusiness firms.
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Jeffrey T. Macher and David C. Mowery
We examine the evolution of vertical specialization in three industries: chemicals, computers, and semiconductors. Vertical specialization is the restructuring of industry-wide…
Abstract
We examine the evolution of vertical specialization in three industries: chemicals, computers, and semiconductors. Vertical specialization is the restructuring of industry-wide value chains, such that different stages are controlled by different firms, rather than being vertically integrated within the boundaries of individual firms. In some cases, vertical specialization may span international boundaries and is associated with complex international production networks. After decades of vertical specialization, firms in the chemical industry are re-integrating stages of the value chain. By contrast, the semiconductor and computer industries have experienced significant vertical specialization during the past ten years. We examine how and why these contrasting trends in vertical specialization have co-evolved with industry maturation and decline, and underscore the importance and role of both industry factors and business strategies necessary for industries to become more specialized. We also consider the effects of vertical specialization on the sources of innovation and the geographic redistribution of production and other activities. We conclude that the evolution of vertical specialization in these three industries has both reflected and influenced the strategies of leading firms, while also displays industry-specific characteristics that are rooted in different technological and market characteristics.