Search results

1 – 10 of over 4000
Open Access
Article
Publication date: 3 August 2020

Zhao-Peng Li, Li Yang, Si-Rui Li and Xiaoling Yuan

China’s national carbon market will be officially launched in 2020, when it will become the world’s largest carbon market. However, China’s carbon market is faced with various…

1292

Abstract

Purpose

China’s national carbon market will be officially launched in 2020, when it will become the world’s largest carbon market. However, China’s carbon market is faced with various major challenges. One of the most important challenges is its impact on the social and economic development of arid and semi-arid regions. By simulating the carbon price trends under different economic development and energy consumption levels, this study aims to help the government can plan ahead to formulate various countermeasures to promote the integration of arid and semi-arid regions into the national carbon market.

Design/methodology/approach

To achieve this goal, this paper builds a back propagation neural network model, takes the third phase of the European Union Emissions Trading System (EU ETS) as the research object and uses the mean impact value method to screen out the important driving variables of European Union Allowance (EUA) price, including economic development (Stoxx600, Stoxx50, FTSE, CAC40 and DAX), black energy (coal and Brent), clean energy (gas, PV Crystalox Solar and Nordex) and carbon price alternatives Certification Emission Reduction (CER). Finally, this paper sets up six scenarios by combining the above variables to simulate the impact of different economic development and energy consumption levels on carbon price trends.

Findings

Under the control of the unchanged CER price level, economic development, black energy and clean energy development will all have a certain impact on the EUA price trends. When economic development, black energy consumption and clean energy development are on the rise, the EUA price level will increase. When the three types of variables show a downward trend, except for the sluggish development of clean energy, which will cause the EUA price to rise sharply, the EUA price trend will also decline accordingly in the remaining scenarios.

Originality/value

On the one hand, this paper incorporates driving factors of carbon price into the construction of carbon price prediction system, which not only has higher prediction accuracy but also can simulate the long-term price trend. On the other hand, this paper uses scenario simulation to show the size, direction and duration of the impact of economic development, black energy consumption and clean energy development on carbon prices in a more intuitive way.

Details

International Journal of Climate Change Strategies and Management, vol. 12 no. 5
Type: Research Article
ISSN: 1756-8692

Keywords

Open Access
Article
Publication date: 5 July 2022

Ivan Hajdukovic

Over the past decades, the global solar photovoltaic (PV) market has experienced an unprecedented development associated with a substantial decline in solar PV module prices. A…

1152

Abstract

Purpose

Over the past decades, the global solar photovoltaic (PV) market has experienced an unprecedented development associated with a substantial decline in solar PV module prices. A body of literature has attempted to identify and evaluate the different sources of price variation. However, the impact of international trade on the price of solar PV modules has not yet been empirically examined. This paper contributes to filling this gap in the literature by providing a comprehensive empirical examination on the relationship between international trade and solar PV module prices.

Design/methodology/approach

The author uses a sample of 15 countries over the period 2006–2015 and proposes a linear dynamic panel data model based on a new specification, including a number of relevant factors influencing solar PV module prices.

Findings

The empirical analysis reveals that an increase in imports of solar PV cells and modules is associated with a decline in solar PV module prices. This finding suggests that international trade could lead to further price reductions, thus fostering the deployment of solar PV technology. The study reveals several other important findings. Market and technological development are key factors explaining the decline in solar PV module prices. Moreover, government policies such as public budget for R&D in PV and feed-in tariff for solar PV are effective in reducing the price of solar PV modules.

Originality/value

This paper examines the influence of international trade, government policies, market development and technological development on solar PV module prices. The results may be of interest to both academic research and policy analysis.

Details

EconomiA, vol. 23 no. 1
Type: Research Article
ISSN: 1517-7580

Keywords

Open Access
Article
Publication date: 8 May 2018

Rolf Barlindhaug and Berit Irene Nordahl

This paper aims to investigate whether developers’ ask lower prices on homes in redevelopment sites than they do on similar units in smaller developments completed over a shorter…

3008

Abstract

Purpose

This paper aims to investigate whether developers’ ask lower prices on homes in redevelopment sites than they do on similar units in smaller developments completed over a shorter time span. It also investigates whether developers price units differently at different stages of the redevelopment process. The development of designated redevelopment areas often consists of multiple projects spread across several years, some in parallel, some sequential. New units are put on the market in a piecemeal fashion, and infrastructure, shared green spaces and shared facilities are installed successively.

Design/methodology/approach

A hedonic price model is used to analyse sales prices of 7,000 new apartments in Oslo sold between 2011 and 2015, all else being equal. The paper distinguishes between infill as one-stage projects, and multi-staged competitive and multi-staged monopolistic redevelopments.

Findings

Dwellings in redevelopment projects sell at a lower price than similar dwellings in infill projects. In competitive redevelopments, those in charge of the last projects put a slightly higher price on apartments. In redevelopments involving only one developer, the last stages ask the lowest prices.

Research limitations/implications

This research expands our understanding of developers’ pricing behaviour. Developers supplying housing for the private market through redevelopments land are willing to take risks particularly in the initial stage.

Practical implications

The findings indicate that credit institutions financing developers’ projects need to take into account the structure of selling prices, including lower prices and higher risk of pursuing redevelopment projects.

Social implications

Gaining a better understanding of developers’ pricing behaviour deepens our insights into the dynamics of market-led urban brownfield developments; this knowledge may moreover inform policies on sustainable urban growth.

Originality/value

An original investigation of housing transactions in urban brownfield sites in Oslo provides fresh insights into developers’ pricing behaviour.

Details

Journal of European Real Estate Research, vol. 11 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 7 July 2020

Juho Valtiala

This study analyses agricultural land price dynamics in order to better understand price development and to improve forecast accuracy. Understanding the evolution of agricultural…

Abstract

Purpose

This study analyses agricultural land price dynamics in order to better understand price development and to improve forecast accuracy. Understanding the evolution of agricultural land prices is important when considering sound investment decisions.

Design/methodology/approach

This study applies threshold autoregression to model agricultural land prices. The data includes quarterly observations on Finnish agricultural land prices.

Findings

The study shows that Finnish agricultural land prices exhibit regime-switching behaviour when using past changes in prices as a threshold variable. The threshold autoregressive model not only fits the data better but also improves the accuracy of price forecasts compared to the linear autoregressive model.

Originality/value

The results show that a sharp fall in agricultural land prices temporarily changes the regular development of prices. This information significantly improves the accuracy of price predictions.

Details

Agricultural Finance Review, vol. 81 no. 2
Type: Research Article
ISSN: 0002-1466

Keywords

Open Access
Article
Publication date: 18 May 2020

Juan Carlos Cuestas and Merike Kukk

This paper aims to investigate the mutual dependence between housing prices and housing credit in Estonia, a country that experienced rapid debt accumulation during the 2000s and…

1383

Abstract

Purpose

This paper aims to investigate the mutual dependence between housing prices and housing credit in Estonia, a country that experienced rapid debt accumulation during the 2000s and big swings in house prices during that period.

Design/methodology/approach

The authors use Bayesian econometric methods on data spanning 2000–2015.

Findings

The estimations show the interdependence between house prices and housing credit. More importantly, negative housing credit innovations had a stronger effect on house prices than positive ones.

Originality/value

The asymmetry in the linkage between housing credit and house prices highlights important policy implications, in that if central banks increase capital buffers during good times, they can release credit conditions during hard times to alleviate the negative spillover into house prices and the real economy.

Details

Journal of Economic Studies, vol. 48 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Open Access
Article
Publication date: 5 December 2017

Maher Asal

This paper aims to assess the long-run drivers and short-term dynamics of real house prices in Sweden for 1986Q1 to 2016Q4. More specifically, the author examines the extent to…

6279

Abstract

Purpose

This paper aims to assess the long-run drivers and short-term dynamics of real house prices in Sweden for 1986Q1 to 2016Q4. More specifically, the author examines the extent to which real house prices are determined by affordability, demographics and asset price factors.

Design/methodology/approach

The author conducts a cointegration analysis and applies a vector autoregression model to examine the long- and short-run responsiveness of Swedish real house prices to a number of key categories of fundamental variables.

Findings

The empirical results indicate that house prices will increase in the long run by 1.04 per cent in response to a 1 per cent increase in household real disposable income, whereas real after-tax mortgage interest and real effective exchange rates show average long-term effects of approximately – 8 and – 0.7 per cent, respectively. In addition, the results show that the growth of real house prices is affected by growth in mortgage credit, real after-tax mortgage interest rates and disposable incomes in the short run, whereas the real effective exchange rate is the most significant determinant of Swedish real house appreciation.

Originality/value

The impact of the two lending restrictions been implemented after the financial crisis – the mortgage cap in October 2010 and the amortization requirement in June 2016 – are ineffective to stabilize the housing market. This suggests that macroprudential measures designed to ease pressure on housing prices and reduce risks to financial stability need to focus on these fundamentals and address the issues of tax deductibility on mortgage rates and the gradual implementation of debt-to-income limits to contain mortgage demand and improve households’ resilience to shocks.

Details

International Journal of Housing Markets and Analysis, vol. 11 no. 1
Type: Research Article
ISSN: 1753-8270

Keywords

Open Access
Article
Publication date: 5 December 2016

Yeon-Hak Kim, Sun-Woong Park and Yeong-Wha Sawng

The purpose of this study is to develop an appropriate new product development (NPD) process of Company “T”, a medium-sized firm, by analyzing the existing NPD process and failure…

27920

Abstract

Purpose

The purpose of this study is to develop an appropriate new product development (NPD) process of Company “T”, a medium-sized firm, by analyzing the existing NPD process and failure cases of the Company.

Design/methodology/approach

The proposed research framework is as follows: first, prospective studies of the NPD process are performed using the existing literature and preliminary references; second, comparative analysis between the current processes and a NPD process is performed; third, phase-based evaluations upon failed product cases are conducted with a NPD process so as to identify the abridged steps and root-causes of failures; finally, renewed priorities are set forth by utilizing the analytic hierarchy process analysis and questionnaire analysis upon the above identified causes of failures.

Findings

The resulting accomplishments include the establishment of NPD processes that resonates with the current states of Company “T”, which, in turn, ensures the increase of efficiency, the decrease in development duration and the strategy of capacity-concentration and priority-selection.

Originality/value

As Company “T”’s development process is outdated and products are developed without adequate market information research and feasibility analysis, the percentage of failed development project is as high as 87 per cent. Thus, this study aims to develop an appropriate NPD process of Company “T” by analyzing the existing NPD process and failure cases of the Company.

Details

Asia Pacific Journal of Innovation and Entrepreneurship, vol. 10 no. 1
Type: Research Article
ISSN: 2071-1395

Keywords

Open Access
Article
Publication date: 22 August 2023

Andreas Hinterhuber

The purpose of this paper is to provide a theoretically rigorous and practically relevant summary of research findings that enables managers to drive sustainable profits…

1380

Abstract

Purpose

The purpose of this paper is to provide a theoretically rigorous and practically relevant summary of research findings that enables managers to drive sustainable profits improvements via pricing. It showcases multiple case studies that demonstrate how companies can achieve higher-than-average profitability by implementing intelligent pricing strategies and tactics.

Design/methodology/approach

Over the past 20 years, this writer has conducted dozens of academic surveys with managers exploring the antecedents, moderators and consequences of pricing practices for existing and new products. The writer has analyzed all pricing research published in leading academic journals over the past decades. Finally, as equity partner of Hinterhuber & Partners, a pricing consultancy (www.hinterhuber.com), this writer – through collaborations with companies and workshops conducted with practicing managers – has collected data and insights on best practices in managing pricing as a strategic activity.

Findings

Pricing is the most powerful driver of superior profits, yet managers view pricing as relevant only in the context of innovation. This narrow view prevents companies from realizing their full potential. Best practice examples of pricing as well as rigorous academic research suggest that pricing based on solid scientific principles helps average companies to achieve above-average results. This paper presents a review of recent research and summarizes the fundamental principles that managers must master so that pricing becomes an enabler of lasting superior performance.

Research limitations/implications

Academic research in pricing surpasses managerial practice. Managers often rely on outdated concepts when it comes to pricing strategy and tactics.

Practical implications

The paper presents a framework that allows managers to implement pricing strategies that improve performance.

Social implications

Effective pricing strategies benefit companies, customers and other stakeholders.

Originality/value

The paper provides a comprehensive overview of the latest research on pricing and thus documents that pricing based on solid, scientific principles is an enable of lasting, above-average profitability.

Details

Journal of Business Strategy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0275-6668

Keywords

Open Access
Article
Publication date: 29 June 2018

Ismael Luiz dos Santos and Sidnei Vieira Marinho

This study aims to find evidence of a possible relationship between three constructs that are generally investigated separately: entrepreneurial orientation, understood as…

6697

Abstract

Purpose

This study aims to find evidence of a possible relationship between three constructs that are generally investigated separately: entrepreneurial orientation, understood as entrepreneurship on the organizational level; marketing capability, seen as a highly competitive factor for the organization; and business performance, highlighted as a focus of the entire organization.

Design/methodology/approach

A survey-based quantitative approach was adopted with a cross-sectional temporal perspective. To arrive at results that can be compared, the study uses factor analysis and structural equations modeling techniques, with estimations of maximum likelihood for testing the quality of fit of the measures to the structural models, using SPSS 21 and AMOS 16 software. Data were collected at the 27th EXPOSUPER, which is a trade fair at which 35,000 visitors were present. The data collection instrument used is a questionnaire previously validated by Reis Neto et al. (2013a). The first section covers control variables chosen to profile the firms, the second contains entrepreneurial orientation variables, the third comprises marketing capability variables and the fourth section contains business performance variables, all using seven-point Likert response scales.

Findings

Tests of the entrepreneurial orientation measurement scale produced interesting results in this application within the retail supermarket industry. The results of exploratory factor analysis indicated that a scale with three dimensions was significant. The relationship between entrepreneurial orientation and marketing capability (H1) is positive, through the intermediate dimensions of innovation, proactiveness and risk-taking, used by firms’ management, contributing to their efforts to research and manage the market, to develop products and services and to offer better prices. Exploratory factor analysis and confirmatory factor analysis showed that four of the scale’s dimensions of the marketing capability were significant: market research, market management, new product development and pricing. Comparison of these results with those of Reis Neto et al. (2013a) reveals a difference, as although their result, achieved using structural equations modeling, also had four factors; the promotion dimension was the most significant and absorbed the other variables. Despite these differences, confirmatory factor analysis and structural equations modeling demonstrated that this construct met the minimum conditions for adequacy, where (H2), formulated to test the relationship between the marketing capability construct, was confirmed. The final construct analyzed in this study was business performance, initially suggested by González-Benito et al. (2009), and also used by Reis Neto et al. (2013a). They used the dimensions profitability, market value and market response, and in the present study, after exploratory factor analysis, confirmatory factor analysis and structural equations modeling, the results were identical to those authors results, in that (H3), formulated with the objective of testing the relationship between the entrepreneurial orientation construct and business performance, was confirmed, and although this was not the most robust of the relationships postulated in the three hypotheses, but was of lower significance.

Research limitations/implications

Although this study has achieved its objective, one of the study’s limitations relates to the data collection instrument, which was subject to failures in terms of the number of variables to be analyzed in each dimension. This led to elimination of certain dimensions during the analyses. Another limitation is related to the method used in the study. When questionnaires are used as data collection instruments, respondents often may not understand the true meaning of questions, which could lead them to choose any option, thereby stripping the results of credibility. In view of this limitation, it is suggested that future researchers conduct qualitative studies, using the case study method, which could offer greater clarity and increase understanding of the results related to these subjects. Even considering that this study has certain limitations and restrictions affecting generalization, it is hoped that it raises new questions, interests and inspirations, improving and complementing understanding of this strong social and economic sector.

Originality/value

It is identify the relationship between entrepreneurial orientation and marketing capability, since to date there is no evidence from studies confirming the existence of such a relationship. This statement was based on the results of a bibliographic survey conducted using the ProKnow-C, knowledge development process-constructivist methodology, in which, this originality was positive and significant, offering new studies from this point of view.

Details

Innovation & Management Review, vol. 15 no. 2
Type: Research Article
ISSN: 2515-8961

Keywords

Open Access
Article
Publication date: 30 September 2021

Kesuh Jude Thaddeus, Chi Aloysius Ngong, Njimukala Moses Nebong, Akume Daniel Akume, Jumbo Urie Eleazar and Josaphat Uchechukwu Joe Onwumere

The purpose of this paper is to examine key macroeconomic determinants on Cameroon's economic growth from 1970 to 2018.

3673

Abstract

Purpose

The purpose of this paper is to examine key macroeconomic determinants on Cameroon's economic growth from 1970 to 2018.

Design/methodology/approach

Data were obtained from the World Development Indicators and applied on time series data econometric techniques. The auto-regressive distributed lag (ARDL) bounds model analyzed the data since the variables had different order of integration.

Findings

The results showed long and short runs’ positive and significant connection between economic growth in Cameroon and government expenditure; trade openness, gross capital formation and exchange rate. Human capital development, foreign aid, money supply, inflation and foreign direct investment negatively and significantly affected economic growth in the short and long-runs. Hence, the macroeconomic indicators are not death.

Research limitations/implications

The present research paper has tried to capture the impact of nine macroeconomic determinants on economic growth such as the government expenditure (LNGOVEXP), human capital development (LNHCD), foreign aids (AID), trade openness (LNTOP), foreign direct investment (LNFDI), gross capital formation (INVEST), broad money (LNM2), official exchange rate (LNEXHRATE) and Inflation (LNINFLA). However, these variables have the tendency to affect each other in a unidirectional or bidirectional manner. Further, the present research paper is unable to capture the impact of other macroeconomic variable due to the unavailability of data.

Practical implications

The study recommends that Cameroon should use proper planning and strategic policy interventions to achieve higher sustainable economic growth with human capital development, foreign aid, money supply, foreign direct investment and moderate inflation.

Social implications

Macroeconomic indicators, if managed well, increase economic growth.

Originality/value

This paper to the best of the researcher's knowledge presents new background information to both policymakers and researchers on the main macroeconomic determinants using econometric analysis.

Details

Journal of Business and Socio-economic Development, vol. 4 no. 1
Type: Research Article
ISSN: 2635-1374

Keywords

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