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Article
Publication date: 15 March 2022

Vanita Tripathi and Aakanksha Sethi

The purpose of this study is to ascertain how foreign and domestic Exchange Traded Funds (ETFs) investing in Indian equities affect their return volatility and pricing efficiency…

Abstract

Purpose

The purpose of this study is to ascertain how foreign and domestic Exchange Traded Funds (ETFs) investing in Indian equities affect their return volatility and pricing efficiency. Further, we investigate how the difference in market timings affect the impact of ETFs on their constituents. Lastly, we examine how these effects vary during tranquil and turmoil periods in the ETF markets.

Design/methodology/approach

The study is based on quarterly data for stocks comprising the CNX Nifty 50 Index from 2009Q1 to 2019Q3. The data on holdings of 45 domestic and 196 foreign ETFs in the sample stocks were obtained from Thomson Reuters' Eikon. The paper employs a panel-regression methodology with stock and time fixed effects and robust standard errors.

Findings

Foreign ETFs from North America and the Asia Pacific largely have an adverse impact on stocks' return volatility. In times of turmoil, stocks with higher coverage of European, North American and Domestic funds are susceptible to volatility shocks emanating from these regions. European and Asia Pacific ETFs are associated with improved price discovery while North American funds impound a mean-reverting component in stock prices. However, in turbulent markets, both positive and negative impacts of ETFs on pricing efficiency coexist.

Originality/value

To the best of the authors' knowledge, this is the first study that examines the impact of domestic as well as foreign ETFs on the equities of an emerging market. Furthermore, the study is unique as we investigate how the effects of ETFs vary in turbulent and tranquil markets. Moreover, the paper examines the role of asynchronous market timings in determining the ETF impact. The paper adds to the growing literature on the unintended consequences of index-linked products.

Details

International Journal of Emerging Markets, vol. 18 no. 11
Type: Research Article
ISSN: 1746-8809

Keywords

Case study
Publication date: 12 December 2023

Ratna Achuta Paluri and Girish Ranjan Mishra

This case study will allow students to critically analyse and develop entry strategies into untapped foreign markets. The case study was designed to introduce students to…

Abstract

Learning outcomes

This case study will allow students to critically analyse and develop entry strategies into untapped foreign markets. The case study was designed to introduce students to identifying and analysing information related to target markets for expansions in international business.

The main objectives of this case are to evaluate and make the “Go Global” decision for the company; to take a position on entry timing for a company for entering an overseas market; to select a country for entry based on cultural, administrative, geographic and economic analysis and other relevant factors; and to evaluate a firm’s readiness for exports.

Case overview/synopsis

This case study on Satya Pharmaceuticals presents a typical dilemma faced by small and medium enterprises (SMEs) in emerging markets such as India while exploring the untapped overseas markets to expand their business. Satya Pharmaceuticals produced over-the-counter Ayurvedic medicines. With the onset of the COVID-19 pandemic, the consumer preference for Ayurvedic products had increased globally. Home country governments’ emphasis on exports and conducive consumer preferences created an opportune time for such SMEs to explore uncharted markets with a propensity for herbal medicines. Amidst strict regulations regarding safety, efficacy, labelling and packaging norms, along with a subjective understanding of the consumers’ sentiments regarding alternate medicines, SMEs had to select their target market carefully for their products to be successful overseas. This case study presents the basic information that entrepreneurs needed to explore the foreign markets. It revolved around checking firms’ preparedness to explore foreign markets, identifying target markets, timing the entry and entering those markets.

Complexity academic level

This case is appropriate for graduate-level courses in management that offer subjects such as international business.

Supplementary material

Teaching notes are available for educators only.

Subject code

CSS 5: International business.

Case study
Publication date: 30 January 2024

Lingfang Li

As the operational entity of China Yiwu Commodity Market, Yiwugou is designed to integrate online and offline business to upgrade the physical market by relying on and serving the…

Abstract

As the operational entity of China Yiwu Commodity Market, Yiwugou is designed to integrate online and offline business to upgrade the physical market by relying on and serving the physical market. It aims to highlight Yiwu Market where every physical shop is related to an online shop, thus protecting honest trade. The strong support from more than 70,000 physical shops owned by Yiwugou ensures the first-hand supply that poses a problem for most e-commerce merchants, and equips Yiwugou with competitive advantage. In terms of marketing, Yiwugou is now aiming at commodity markets across the country through the “Center Plan”, and advertising in public space such as airports. Relying on physical market, Yiwugou Hall distributes commodities with Yiwu's features and superior sources of goods to other places, and connects local market players to Yiwu market, establishing an unobstructed supply channel.

Details

FUDAN, vol. no.
Type: Case Study
ISSN: 2632-7635

Expert briefing
Publication date: 31 January 2024

President Xi Jinping in a speech commended the accomplishments of China’s leadership since he came to power over a decade ago. At a time when China faces growing economic…

Article
Publication date: 4 January 2024

Richard M. Kerslake and Chandrasekhar Krishnamurti

The purpose of this paper is to investigate the extent to which interdisciplinary (HASS, i.e. non-STEM) factors—in particular, accounting, stakeholder management and…

Abstract

Purpose

The purpose of this paper is to investigate the extent to which interdisciplinary (HASS, i.e. non-STEM) factors—in particular, accounting, stakeholder management and accountability—enable, influence and motivate large human exploration ventures, principally in maritime and space fields, utilizing Columbus’s and Chinese explorations of the 1400s as the primary setting.

Design/methodology/approach

The study analyzes archival data from narrative and interpretational history, including both academic and non-academic sources, that relate to two global historical events, the Columbus and Ming Chinese exploration eras (c. 1400–1500), as a parallel to the modern “Space Race”. Existing studies on pertinent HASS (Humanities and Social Sciences) and STEM (Science, Technology, Engineering and Mathematics) enablers, influencers and motivators are utilized in the analysis. The authors draw upon the concepts of stakeholder theory and the construct of accountability in their analysis.

Findings

Findings suggest that non-STEM considerations—politics, finance, accountability, culture, theology and others—played crucial roles in enabling Western Europe (Columbus) to reach the Americas before China or other global powers, demonstrating the pivotal importance of HASS factors in human advancements and exploration.

Research limitations/implications

In seeking to answer those questions, this study identifies only those factors (HASS or STEM) that may support the success or failure in execution of the exploration and development of a region such as the New World or Space. Moreover, the study has the following limitation. Relative successes, failures, drivers and enablers of exploratory ventures are drawn almost exclusively from the documented historical records of the nations, entities and individuals (China and Europe) who conducted those ventures. A paucity of objective sources in some fields, and the need to set appropriate boundaries for the study, also necessitate such limitation.

Practical implications

It is observable that many of those HASS factors also appear to have been influencers in modern era Space projects. For Apollo and Soyuz, success factors such as the relative economics of USA and USSR, their political ideologies, accountabilities and organizational priorities have clear echoes. What the successful voyages of Columbus and Apollo also have in common is an appetite to take risks for an uncertain return, whether as sponsor or voyager; an understanding of financial management and benefits measurement, and a leadership (Isabella I, John F. Kennedy) possessing a vision, ideology and governmental apparatus to further the venture’s goals.

Originality/value

Whilst various historical studies have examined influences behind the oceangoing explorations of the 1400s and the colonization of the “New World”, this article takes an original approach of analyzing those motivations and other factors collectively, in interdisciplinary terms (HASS and STEM). This approach also has the potential to provide a novel method of examining accountability and performance in modern exploratory ventures, such as crewed space missions.

Details

Accounting, Auditing & Accountability Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 9 November 2023

Yunus Emre Topcu, İbrahim Enes Can and Atilla Özçınar

This study aims to determine the order of importance of blockchain technology gains for foreign trade management. The second aim of the research is to select the most suitable…

Abstract

Purpose

This study aims to determine the order of importance of blockchain technology gains for foreign trade management. The second aim of the research is to select the most suitable blockchain type for the foreign trade process.

Design/methodology/approach

The data required for the research analysis were collected through comparison matrices scored by foreign trade experts. The data were analyzed with the analytical hierarchy process method, and the gains of blockchain technology for the foreign trade process were prioritized. Finally, the most suitable type of blockchain technology was selected with the PROMETHEE method.

Findings

As a result of the study, subject matter experts perceived that the most critical blockchain gain for the foreign trade process would be cost savings. In addition, it has been observed that the general trade process differs compared to the logistics and payment processes. Finally, open blockchain was the most suitable blockchain type for foreign trade processes.

Research limitations/implications

In this study, the positive gains of blockchain technology are considered. In future studies, it is recommended to consider the existing negative factors to be able to use blockchain technology in foreign trade processes. In addition, it is suggested to conduct a study by dividing foreign trade into two, import and export.

Practical implications

All stakeholders who want to integrate blockchain technology into their foreign trade processes, including foreign trade companies, software developers, policymakers and international institutions, can benefit from the results of this study. A blockchain technology software created for foreign trade management can be shaped according to the results of this study.

Originality/value

Although the gains that blockchain technology provides to foreign trade processes are frequently emphasized in the literature, which gain would be greater has not been examined. The lack of an answer to the issue of how blockchain technology should be designed for foreign trade processes has been the missing part of the relevant literature. To the best of the authors’ knowledge, this study is the first experimental study in the literature that prioritizes blockchain gains and selects the appropriate blockchain type for foreign trade processes.

Details

Digital Policy, Regulation and Governance, vol. 26 no. 2
Type: Research Article
ISSN: 2398-5038

Keywords

Article
Publication date: 26 March 2024

Anh Tuyet Nguyen, Vu Hiep Hoang, Phuong Thao Le, Thi Thanh Huyen Nguyen and Thi Thanh Van Pham

This study addresses the empirical results of the spillover effect with export as the primary economic activity that enhances local businesses' total factor productivity (TFP). A…

Abstract

Purpose

This study addresses the empirical results of the spillover effect with export as the primary economic activity that enhances local businesses' total factor productivity (TFP). A learning mechanism is expected to be generated and used as the basis for the policy implication.

Design/methodology/approach

This study adopted the Cobb–Douglas function and multiple estimation approaches, including the generalized method of moments, the Olley–Pakes and the Levinsohn–Petrin estimation techniques. The findings were estimated based on the panel data of a Vietnamese local businesses survey conducted by the General Statistics Office of Vietnam (GSO) from 2010 to 2019.

Findings

The results showed that the highest TFP belongs to the businesses in the Southeast region, the Mekong Delta region, the mining industry and the foreign-invested enterprises. The lowest impacted TFP are businesses in the Northwest region and agricultural, forestry and fishery sectors. In addition, the estimated results also show that the positive spillover effect on TFP is shown through forward and backward linkage. The negative spillover effect is expressed through the backward and horizontal channels.

Research limitations/implications

This study offers original empirical evidence on the learning mechanisms via which exports contribute to productivity improvement in a developing Asian economy, so making a valuable contribution to the existing academic literature in this domain. The findings of this research make a valuable contribution to the advancement of understanding on the many ways via which spillover effects manifest such as horizontal, forward, backward and supplied-backward linkage.

Practical implications

The study's findings indicate that it is advisable for governments to give priority to the development and improvement of forward and supply chain linkages between exporters and local suppliers. This approach is recommended in order to optimize the advantages derived from export spillovers. At the organizational level, it is imperative for enterprises to strengthen their technological and managerial skills in order to efficiently incorporate knowledge spillovers that originate from overseas partners and trade counterparts.

Originality/value

This study sheds new evidence on the export spillover effect on productivity in emerging economies, with Vietnam as the case study. The paper contributes to the research's originality by adopting novel methodological aspects to estimate local businesses' impact on total factor productivity.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0373

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 2 February 2024

Renming Liu, Abu Bakar Abdul Hamid and Noor Inayah Ya'akub

Cross-border e-commerce live streaming morphs into an epidemic shopping scenario, yet there is a paucity of research on impulse purchasing in this context. The purpose of this…

Abstract

Purpose

Cross-border e-commerce live streaming morphs into an epidemic shopping scenario, yet there is a paucity of research on impulse purchasing in this context. The purpose of this study is to empirically investigate the adoption motivation of cross-border e-commerce live streaming and its influence mechanism on intrinsic response and purchase impulse and to highlight the mediating role of browsing behavior.

Design/methodology/approach

Based on the use and gratification lens, a new conceptualization model is established to captivate the theoretical relationships between perceived stimuli, individual attitudes, browsing behavior and impulsive purchases. A questionnaire survey was used to collect cross-sectional data from 427 Malaysian consumers and the estimated framework was validated through AMOS-structural equation modeling technique.

Findings

The findings confirm that perceived interactivity, perceived information usefulness and perceived enjoyment significantly influenced positive attitudes toward live-streaming, which in turn induced impulsive purchases; however, perceived affective gratification did not stimulate positive attitudes. Consumers’ utilitarian browsing had a stronger effect on impulse purchases than hedonic browsing and utilitarian browsing behavior mediated the relationship between positive attitudes and impulse buying; however, hedonic browsing had neither a direct nor a mediating effect on impulsive purchases.

Practical implications

This research enhances the literature on the impact of cross-border e-commerce live streaming, an emerging technology, on consumer behavior and offers managerial implications for e-commerce practitioners to gain insights into consumer impulse purchasing behavior.

Originality/value

The findings revamp conventional knowledge and provide new angles for understanding the formation mechanisms of impulse purchases, motivations for virtual media use and browsing behavior mediating effects in the context of live streaming.

Details

Journal of Systems and Information Technology, vol. 26 no. 1
Type: Research Article
ISSN: 1328-7265

Keywords

Article
Publication date: 12 September 2022

Nahid Darooghe Arefi, Hassan Bahrololoum, Reza Andam and Aliakbar Hasani

Sustainable development of entrepreneurship could be comprehensively analyzed using a simulation model for entrepreneurship ecosystem based on the system dynamics approach. Thus…

Abstract

Purpose

Sustainable development of entrepreneurship could be comprehensively analyzed using a simulation model for entrepreneurship ecosystem based on the system dynamics approach. Thus, a complete analysis of the entrepreneurship ecosystem is of high importance. However, an effective analysis of entrepreneurship ecosystem involves many challenges, such as the presence of several factors which interact with each other in various ways with different complex effects in time. Therefore, the approach used in this study is employing analysis of entrepreneurship ecosystems in sports industry using analysis of dynamic systems.

Design/methodology/approach

Several applied issues such as entrepreneurship opportunities, infrastructures, market opportunities and entrepreneurship space in the borders of the dynamic model developed based on the literature and experts' opinion. Finally, a set of strategies based on experts' opinion are ranked with the objective of improvement of evaluation measures using network analysis decision-making approach and fuzzy TOPSIS.

Findings

The results obtained indicate the important role of sports entrepreneurship opportunities, sports tourism, market opportunities, entrepreneurship infrastructures and entrepreneurship-oriented environment in the development of sports entrepreneurship infrastructure in Iran. The credibility and efficiency of the proposed model for analysis of sports entrepreneurship have been ultimately shown.

Originality/value

A holistic approach is proposed based on the hybrid system dynamics approach and fuzzy decision-making method to analyses sports entrepreneurship ecosystem.

Article
Publication date: 19 July 2023

Erhan Atay, Serkan Bayraktaroglu and Yin Teng Elaine Chew

This qualitative study has two aims. The first is to explore the cognitive, affective, and behavioural dimensions of Eurasian self-initiated expatriates’ (SIEs) work and non-work…

Abstract

Purpose

This qualitative study has two aims. The first is to explore the cognitive, affective, and behavioural dimensions of Eurasian self-initiated expatriates’ (SIEs) work and non-work adjustments in Korea. The second is to understand how the Confucian-oriented Korean culture influences Eurasian SIEs' work and non-work domains, in particular their organisational practices and relations with locals.

Design/methodology/approach

This study was conducted through a qualitative analysis of interviews conducted with 27 Eurasian SIEs working in Korea. The interviews were conducted face-to-face with open-ended questions.

Findings

Eurasian SIEs in Korea express different cognitive, affective, and behavioural life and work adjustment processes that affect their future careers. A high level of language proficiency and knowledge of cultural and social expectations does not guarantee work and life adjustment success. Due to the heavy presence of Korean culture in work and living environments, SIEs face challenges in joining social and work networks and balancing work and life domains, which slows down adjustment. Results indicate that SIEs adjusted well regarding cognitive and behavioural dimensions in work and non-work domains. However, affective adjustment is difficult to achieve, even for SIEs who have lived in the country for many years, and many have the intention to leave if there were other options.

Originality/value

This study contributes to the literature by focussing on the multidimensionality of SIEs' work and life adjustments, with cognitive, affective, and behavioural components. SIEs have been in a complicated process of adaptation and integration for a long time. This study attempts to contribute to SIE literature by analysing the elements of Confucianism-oriented Korean culture and organisational practices prevalent in SIEs' multidimensional adjustment and career challenges.

Details

Journal of Global Mobility: The Home of Expatriate Management Research, vol. 12 no. 1
Type: Research Article
ISSN: 2049-8799

Keywords

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