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The global financial crisis of 2007/2008 interrupted the process of financial integration observed in the European Union since the beginning of the 2000s. This paper empirically analyzes whether financial integration resumed, focusing on the period 2002–2015 and employing the indicators of the speed and the level of integration. The analysis covers four financial markets (the money, foreign exchange, bond, and equity markets) of the selected inflation-targeting Central European economies (the Czech Republic, Hungary, and Poland), representatives of new euro area countries (Slovenia and Slovakia) and the selected advanced Western European economies (Austria, Germany, Portugal) with the euro area. The results reveal that the global financial crisis caused mainly a temporary price divergence of the financial markets in the analyzed countries vis-à-vis the euro area. By 2015 the situation on the financial markets returned gradually to the pre-crisis degree of integration with the euro area for most of the countries and markets; however, there are signs of fragmentation on the government bond markets.

This study aims to draw on the strategy–structure–performance framework to investigate baseline supply chain (BSC) practices as a function of how firms structure logistics and marketing mix activities to achieve market share in the emerging market (EM) supply chain ecosystems.

The authors validate the study’s conceptual framework with survey data collected in two contrasting EM supply chain ecosystems. They include supply chains in EM economies with an advanced logistics/distribution infrastructure such as China and those in economies with poor logistics/distribution infrastructure such as Ghana. The authors use ordinary least squares regression and structural equation modeling analysis to examine the relative market share outcomes of different configurations of logistics-marketing practices (logistics-affordability marketing, logistics-accessibility marketing, logistics-acceptability marketing, logistics-and awareness and full integration into BSC).

Key findings confirm that the integration of logistics with marketing activities into BSC practice is more pervasive in EMs with high logistics performance index, such as China than in firms in EMs with low logistics performance index, such as Ghana. Moreover, the authors confirm that integrating logistics and marketing into BSC generates higher market share performance than logistics- or marketing-only practices in China and Ghana. These differences are driven more by the firm’s strategic orientation than the demands of competitive market conditions.

The study focuses on BSC integration activities in the logistics and marketing functions because researchers have not updated this issue for the past two decades.

The study results provide managers with much-needed empirical evidence of the strategic benefit of BSC integration under different supply chain ecosystems in the EMs.

Linking BSC activities in logistics management and marketing management mix activities within the 4As marketing mix framework provides evidence to support the argument that the 4As marketing mix is an appropriate planning framework for EMs’ unique ecosystems.

The purpose of this paper is to examine operational-level implementation issues regarding mergers and acquisitions (M&As) in general, and resource combination and integration at the functional marketing level in particular.

The paper introduces four factors (i.e. collaboration, interaction, marketing synergy, and the realignment of marketing resources) that support successful M&A marketing integration and enhance overall M&A performance.

The results indicate that marketing synergy and the realignment of marketing resources contribute significantly to the extent of integration. At the same time, the authors find a significant but negative relationship between the interaction dimension and the speed of integration.

The cultural integration of firms that feature different management styles and organizational cultures has been recognized as a particularly challenging aspect of cross-border M&As. This study explains factors that contribute to effective marketing integration in M&As.

This paper contains an empirical analysis of determinants of international integration projects over the time period 1995-2010. After a broad discussion of the existent literature, the investigation combines a large number of potentially relevant determinants for the explanation of whether stock exchanges are participating in formal integration projects. The paper aims to discuss these issues.

The methodology is based on multistage statistical data analysis, using correlation and cluster analyses to investigate the presence of integration trend between existing stock exchange projects, while multivariable logit regression examines the determinants of stock exchange integration.

The paper confirms empirically the set of drivers of financial integration. Moreover, the paper provides quantitative estimations of probability of stock exchange integration estimated for different explanatory variables. The paper demonstrates that financial harmonization, cross-membership-agreements, for-profit corporate structure, trading engine and regional integration are important drivers of stock exchange integration. By contrast, high size of stock exchange market has negative impact on the likelihood of successful merger. This result is, especially, important in terms of financial regulation.

Results highlight the importance of stock exchange market in terms of exposure to systemic shocks and the linkages with the overall size of the economy.

The paper contributes to the existing literature and extends the analysis of determinants of stock exchange integration. In particular, the existence of de jure stock market integration projects suggests to design a special regulatory framework in order to benefit the important consequences of the integration phenomenon and to decrease the risk of financial contagion.

The objective of this study is to analyze how cross-functional integration contributes to the development of market-oriented strategies in the context of food and beverage manufacturers in Latin America.

A multi-case study was conducted in two multinational companies in Costa Rica and Brazil. Twenty-four semi-structured interviews were carried out with managers, leaders and supervisors.

The results showed four market-oriented processes: product launch, product delivery, customer complaints solution and improvement and innovation projects. Within these processes, 12 integration factors that impact market orientation were characterized. They also indicate that the concepts of market orientation and cross-functional integration should be integrated in the organizational culture to facilitate the understanding of the different needs and levels of urgency.

The studied literature does not emphasize the way integration is operationalized to allow organizations to be market oriented. According to our findings, responsive strategies depend on the integration of various internal functions to generate market intelligence. Managers must realize that when the workers are motivated and informed, they become more willing to take on a group vision and commit to organizational goals. This paper presents seven propositions on the operationalization of market orientation through cross-functional integration.

The aim of this study is to examine the nature and determinants of stock market integration between India and other Asia–Pacific countries (Malaysia, Hong Kong, Singapore, South Korea, Japan, China, Indonesia, the Philippines, Thailand and Taiwan) over the period 1991–2021.

Unit root tests, the dynamic conditional correlation-Glosten Jagannathan and Runkle-generalized autoregressive conditional heteroscedasticity (DCC-GJR-GARCH), pooled ordinary least squares (OLS) regression and random effects models are employed for the analysis.

The empirical results show that the DCC between each pair of sample countries is less than 0.5, indicating weak ties between the pairs of sample countries. Also, the DCC between India and other Asia–Pacific stock markets is positive and low, implying low level of integration. The correlation between India and China stock markets is found to be the highest, implying significant level of integration. The main reason for it would be strong economic linkages and bilateral trade relationship between India and China. Moreover, gross domestic product (GDP), interest rate (IR), consumer price index (CPI)-inflation and money supply (MS) differentials are the major driver of stock market integration between India and other Asia–Pacific countries.

The findings of the study have important implications for investors, portfolio managers and policymakers. It is found that the DCC between India and other Asia–Pacific countries (considered in the study) except China is low, which indicates weak ties between the pairs of sample countries. This implies that the Indian stock market provides good investment opportunities for foreign investors. Also, investors and portfolio managers can attain more diversified benefits and can minimize country risk by investing across Asia–Pacific countries. Further, knowledge about the factors that integrate the Indian stock market with the other Asia–Pacific stock markets will help policymakers frame suitable economic and financial stabilization policies.

This study contributes to the extant literature: first, by examining the linkages of Indian stock market with other Asia–Pacific countries; second, although previous studies confirmed the existence of linkages among the various stock markets, few researchers pay attention to the factors driving the process of stock market integration. This study provides additional evidence by examining the significant macroeconomic factors driving the process of such integration in the Asia–Pacific region considered under the study.

Introduction: Despite its significance, the research on international migration with a specific focus on the European Union (EU) needs to be strengthened with comprehensive studies, for developing better immigration and integration policies. Considering the amplitude of migration flows in Europe and recent challenges brought by the Covid-19 pandemic crisis, the Brexit decision and humanitarian dimension of the migration phenomena (asylum seekers and refugees), the need for better immigration and integration policies within the host countries’ labor markets stands out as a major research direction, especially in case of immigrants looking for better working and living conditions. Aim: This chapter aims to design specific immigration clusters within the main EU-10 destination countries (including Spain, Italy, Belgium, Denmark, Finland, France, UK, Germany, Austria, and Sweden) (cluster analysis procedure); and to identify feasible ways and specific policies for immigrants’ labor market success (spatial analysis and macroeconometric models). Method: The methodological framework consists of two parts: (i) immigration clusters analysis, based on the interlinkages between several fundamental migration coordinates, namely, economic welfare at destination, employment opportunities for the foreign population, migrant integration policies and associated governmental efforts, educational background; and (ii) spatial analysis models, namely spatial lag–autoregressive and spatial error, and other three econometric procedures, respectively, the robust regression, Panel Corrected Standard Errors, and Arellano-Bond Dynamic Generalized Method of Moments. National data compiled for the 10 main EU receiving economies during 2000–2015, with a particular focus on Spain were used. Findings: The impact of the proposed research is reflected through a set of new specific tailored ways, policies and strategies that can be adopted and implemented by the policy-makers across Europe. Our empirical results show that, overall, EU-10 countries still fail to identify immigrants with high levels of education and skills acquired to enhance their potential for labor market integration. Policy-makers should always monitor the specific ways in which migration policies lead to concrete positive labor market outcomes for immigrants and that the tools used for implementing these policies are suitable in achieving predefined migration goals. Therefore, a particular focus should be on developing a new immigration system to select migrants for their skills and high level of human capital, by following the best practices examples of other receiving countries.

This chapter measures financial integration in 10 industries over 4 different periods. We use two robust measures of integration: (i) the Pukthuanthong and Roll (2009)’s multi-factor R-square and (ii) the Volosovych (2011)’s integration index. Both measures, based on PCA, indicate that the difference between the level of integration over the period 2009–2012 (“Post-Lehman” era) and the level of integration over the period 1994–1998 (“Post-Liberalizations” era) is relatively high. In addition, the level of financial integration across international equity markets decreased during the late 1990s. This suggests that de jure integration does not necessarily improve de facto integration. Overall, our findings give rise to a “diversification benefits-insurance benefits trade-off.”

Container liner shipping companies started expanding their business by investing in container port terminals in the late 1990s. This market entry results in an extensive presence of vertically integrated liners and terminals. This study aims to explore the competition effects of this vertical integration trend based on a regional (European) analysis. In particular, it extracts lessons from the European Commission (EC) cases on the competition effects of vertical integration. The critical analysis of the cases examined at the institutional level intends to reach conclusions on whether liner–terminal vertical integration harmed or advanced competition in the relevant markets and/or the extent that there is a need to revise the current policy practices.

This study critically assesses the EC’s decisional practices in port container terminal vertical mergers in the last 25 years (1997–2021). Based on a literature review comparing maritime and competition economists' perspectives, it reviews the types of mergers examined, the methodology followed for relevant market definition and calculation of market shares and the estimated competition effects. The Hamburg–Le Havre area is the port range used as a case study for comparing the decisional practice with actual market developments. These container ports serve the greatest consuming market of final and intermediate goods in Europe and are gateways to Central and Eastern Europe.

The assessment identifies a need for expanding the investigation as a precondition for reaching conclusions on both the anti- and pro-competitive effects. First, only a limited number of transactions have been notified to the EC. Second, the empirical research identified a gap in this process, as there were no decisions (phase I) on vertical mergers between 2008 and 2016. Third, the exante assessment has not applied a phase II in-depth analysis to any case due to the absence of competition concerns. Finally, due to the absence of complaints, there is a lack of any ex post assessment of the effects of vertical integration.

This assessment is important for understanding the current and emerging features of intra-port and inter-port competition and the potential effects that the continuation and expansion of liner companies' vertical integration strategies will have along maritime supply chains. It also contributes to the broader discussion on liner companies' strategies, such as the research and policy-making efforts around the globe to understand the impact of both vertical and horizontal integration.

These discussions are critical for a diversity of businesses that use liner shipping services or provide facilities and services to container shipping lines or ports. They are important for the interests of customers and consumers as they could inform any needed re-visiting of competition policy to protect from the dominance of any market developments that would lead to conditions limiting competition. Expanding analysis on the competition effects of non-notified mergers would help a better understanding of market changes.

Enhancing competition and limiting monopolies is valuable from a consumer's perspective. This is more so in the case of maritime trade that serves the needs of societies. The study contributes by generating a better understanding of how decision-makers have worked towards that direction and what realignments are worthy.

There are no previous comprehensive reviews and analyses of the ways that policy-makers at the regional level have addressed the competition effects of vertical integration strategies of liner shipping companies when enhancing competition is valuable from a consumer perspective. Comparing maritime economists and competition, the study, via its literature review, also offers a comparison of maritime and competition perspectives on these competition effects, allowing positioning of how effective decisional-making practices have been.

This study examines the impact of regional economic integration (REI) on stock market linkages in the BRICS (Brazil, Russia, India, China and South Africa) economic bloc. In this type of study, the BRICS framework is an appealing empirical case, given its uncommon characteristics. For example, BRICS member states come from remote geographic locations (Africa, Asia, Europe and South America) and have contrasting socioeconomic profiles.

An empirical design is framed from the perspective of bilateral trade between South Africa and BRIC. The author accepts trade intensity as a proxy of regional economic integration and then examines the resulting effect on the stock market co-movement within BRIC. The study applies a two-step econometric procedure of the BEKK-MGARCH and panel data models.

Overall, bilateral trade, as a proxy of economic inwctegration, is associated with an increase in stock market integration. This positive relationship is particularly observed during episodes of surplus trade, and more interestingly, was initiated three years after BRICS’ existence and continues to grow at an increasing rate.

The study outcome should benefit international trade practitioners and global investors interested in portfolio diversification or concerned with risk spillovers.

First, notwithstanding South Africa's significant economic presence in the African continent, to the best of the author’s knowledge, this is the first study to empirically evaluate the BRICS economic integration on their stock market linkages from the perspective of South Africa. The value of this contribution is that further work may investigate the bidirectional spillover impact conveyed by South Africa's trade interactions within the juxtaposition of Africa and BRICS economies. Second, given that research on REI and stock market integration has historically concentrated on mature regional blocs of Europe, Asia, South and North America, the current study advances knowledge while correcting the prevailing literature imbalance.