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Book part
Publication date: 13 October 2017

Sreten Ćuzović and Svetlana Sokolov Mladenović

The aim of this chapter is to highlight the importance of sustainable development, especially its environmental component in trade and retail sector of the Republic of Serbia. Due…

Abstract

The aim of this chapter is to highlight the importance of sustainable development, especially its environmental component in trade and retail sector of the Republic of Serbia. Due to a number of factors, such as increased consumer awareness on the importance of eco-products, new statutory and legal regulations, and increased competition, retail chains are increasingly oriented to the concept of sustainable development, in particular promoting its environmental component, eco-products, and eco packaging. Trade, especially retail, plays an important role in linking producers and consumers, and society as a whole. In this way, trade has a good overview of all the changes occurring in the environment, production, and consumer needs. Changes in the environment further stimulate trade to operate in accordance with the principles of sustainable development, including all its dimensions. In this regard, special attention is paid to the protection of working and living environment, as components of sustainable development. The chapter includes a review of literature in the field of sustainable development and application of this concept in the trade and retail sector. The theoretical aspect of the research focuses on conceptualization of sustainable development and its environmental component in trade and retail. With reference to theoretical research on the implementation of environmental component of sustainable development in trade, empirical research has been conducted from two aspects. First, analysis focuses on the performance and socio-economic importance of trade sector of the Republic of Serbia, as well as the number of ISO 14001 certificates in trading companies. Second, analysis shifts to the largest trading companies in the Republic of Serbia, based on available secondary data on the implementation of the concept of sustainable development and its environmental component.

Details

Green Economy in the Western Balkans
Type: Book
ISBN: 978-1-78714-499-6

Keywords

Book part
Publication date: 25 January 2012

Haelim Park and Gary Richardson

Soon after beginning operations, the Federal Reserve established a nationwide network for collecting information about the economy. In 1919, the Fed began tabulating data by about…

Abstract

Soon after beginning operations, the Federal Reserve established a nationwide network for collecting information about the economy. In 1919, the Fed began tabulating data by about retail sales, which it viewed as a fundamental measure of consumption. From 1920 until 1929, the Federal Reserve published data about retail sales each month by Federal Reserve district, but ceased to do so after 1929. It continued to compile monthly data on retail sales by reserve district, but this data remained in house. We collected these in-house reports from the archives of the Board of Governors and constructed a consistent series on retail trade at the district level. The new series enhances our understanding of economic trends during the Roaring ‘20s and Great Depression.

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Research in Economic History
Type: Book
ISBN: 978-1-78052-246-3

Article
Publication date: 1 April 1992

Richard Barkham

Considers the potential impact of seven‐day trading on the spatialpattern of retail rents. Notes that the Institute of Fiscal Studiespredicts that Sunday trading will have no…

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Abstract

Considers the potential impact of seven‐day trading on the spatial pattern of retail rents. Notes that the Institute of Fiscal Studies predicts that Sunday trading will have no appreciable effect on the overall level of turnover in the retail sector resulting in a decline in the real value of retail rents. Concludes that shopping areas in large town centres are most vulnerable to a decline in retail activity.

Details

Journal of Property Valuation and Investment, vol. 10 no. 4
Type: Research Article
ISSN: 0960-2712

Keywords

Article
Publication date: 2 August 2013

Changsheng Hu and Yongfeng Wang

The purpose of this paper is to analyze the trading behaviors of retail investors and investigate their impacts on stock returns.

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Abstract

Purpose

The purpose of this paper is to analyze the trading behaviors of retail investors and investigate their impacts on stock returns.

Design/methodology/approach

As retail investors are considered as the main noise traders in the capital market, using the trading records of Chinese retail investors from 2005 to 2009, the authors study their trading preferences and the correlation of their trades. Then, they use a multifactor model to test whether the co‐movement of stock returns could be explained by individual sentiment.

Findings

The authors' results show that the small‐cap stocks are obviously preferred by retail investors. Meanwhile, the net stock demands of retail investors are systematically correlated, even when the effect of market risk is excluded. In the perspective of the net stock demands, the authors use BSI to measure the individual sentiment, finding that individual sentiment plays an important role in the formation of the cross‐section of stock returns. However, the authors' results imply that BSI is a reverse indicator to predict the future returns, which implies that the trading behaviors of retail investors are irrational.

Originality/value

Consistent with behavioral theory, the authors' findings support the viewpoint that stock returns could be affected by the systematic correlated trading of retail investors. To some extent, their findings highlight the need to know more details of individual investors' trading behaviors through which the fluctuations of asset prices can be better understood.

Details

China Finance Review International, vol. 3 no. 3
Type: Research Article
ISSN: 2044-1398

Keywords

Article
Publication date: 22 September 2021

Danny Claro, Valter Afonso Vieira, Raj Agnihotri and Rafael Serer

As manufacturers and retailers aim to increase return on marketing investments, value- vs experience-related trade promotions gain attention. These two trade promotions become…

Abstract

Purpose

As manufacturers and retailers aim to increase return on marketing investments, value- vs experience-related trade promotions gain attention. These two trade promotions become complicated in the presence of different retail format strategies (generalist vs specialist) and channel structures (direct to retailer vs distributors). Building on trade promotion literature, this study aims to show the main effect of value-related and experience-related trade promotions on retailers’ sales and the moderating role of different retail strategies and channel structures.

Design/methodology/approach

The authors use unique panel data from 8 personal care brands with 1,920 observations to test the hypotheses. The authors investigate how consumer goods manufacturer sells products using different channels structures and retail strategies. Estimated panel regressions provide the empirical evidence and robustness analyzes provide extra confidence to the findings.

Findings

Results reveal higher retail sales when the manufacturer invests in value-related trade promotions rather than experience-related trade promotions. The results also demonstrate how the manufacturer successfully invests in trade promotion by adequately accounting for channel structure and retail strategy. While temporary price reduction’s positive effect on retail sales is enhanced in generalist retailers (e.g. supermarket stores), shelf display’s positive impact is enhanced in specialist retailers (drug stores).

Research limitations/implications

The authors used unique panel data accounting for 15 months, limiting the findings. The results supported the investment allocation decisions in each period. However, future research may evaluate the effectiveness over a longer period and thoroughly address each investment’s seasonal effects.

Practical implications

The authors unveil how retailers achieve higher sales with value-related trade promotions when compared to experience-related trade promotions. The authors also shed light on the way manufacturers design their relationships with generalist and specialist retailers by working in direct and indirect channels. Trade promotions yield better results when the direct channel structure couples with a retailer’s generalist strategy.

Originality/value

The empirical findings help manufacturers achieve success in trade promotions by developing an equitable evaluation to contrast value- and experience-related promotions accounting for generalist and specialist retail strategies and direct and indirect channels.

Details

European Journal of Marketing, vol. 55 no. 12
Type: Research Article
ISSN: 0309-0566

Keywords

Content available
Article
Publication date: 13 May 2022

Brittany Cole, Michael A. Goldstein, Shane M. Moser and Robert A. Van Ness

In this paper, the authors document the existence of price clustering in the US corporate bond market.

Abstract

Purpose

In this paper, the authors document the existence of price clustering in the US corporate bond market.

Design/methodology/approach

Using a sample of 8,422,593 corporate bond trades in 2014, the authors find that over 18% (1,522,284 trades) of all bond trades end in a clustered price, defined as a price ending in 00, 25, 50, or 75.

Findings

Overall, the authors find that both bond rating category and risk, as measured by standard deviation of prices, play a role in price clustering; speculative grade bonds account for the majority of clustered prices. Clustered prices are more likely to have higher coupon rates, higher prices, and higher standard deviations of price than bonds with non-clustered prices. Regardless of size, both buy and sell dealer trades with customers (relative to interdealer trading) lead to an increase in price clustering. Dealers appear to use clustered prices when purchasing from and selling to institutions and, therefore, may use a clustered price to insulate themselves from the risk of asymmetric information. Additionally, the prevalence of clustered prices for retail-sized dealer sell trades suggests that dealers exercise dealer power over retail-sized traders.

Originality/value

This paper contributes to the literature on price clustering by examining trade price clustering of corporate bonds. It is different from previous papers on price clustering in equities. Given that bonds tend to be priced off of yield, it is unusual that trade prices cluster. It also demonstrates what kind of bonds cluster and with which customers dealers trade at clustered prices. It parallels other research in demonstrating dealer power over retail-sized traders.

Details

China Finance Review International, vol. 12 no. 3
Type: Research Article
ISSN: 2044-1398

Keywords

Book part
Publication date: 24 August 2011

Morten H. Abrahamsen

The study here examines how business actors adapt to changes in networks by analyzing their perceptions or their network pictures. The study is exploratory or iterative in the…

Abstract

The study here examines how business actors adapt to changes in networks by analyzing their perceptions or their network pictures. The study is exploratory or iterative in the sense that revisions occur to the research question, method, theory, and context as an integral part of the research process.

Changes within networks receive less research attention, although considerable research exists on explaining business network structures in different research traditions. This study analyzes changes in networks in terms of the industrial network approach. This approach sees networks as connected relationships between actors, where interdependent companies interact based on their sensemaking of their relevant network environment. The study develops a concept of network change as well as an operationalization for comparing perceptions of change, where the study introduces a template model of dottograms to systematically analyze differences in perceptions. The study then applies the model to analyze findings from a case study of Norwegian/Japanese seafood distribution, and the chapter provides a rich description of a complex system facing considerable pressure to change. In-depth personal interviews and cognitive mapping techniques are the main research tools applied, in addition to tracer studies and personal observation.

The dottogram method represents a valuable contribution to case study research as it enables systematic within-case and across-case analyses. A further theoretical contribution of the study is the suggestion that network change is about actors seeking to change their network position to gain access to resources. Thereby, the study also implies a close relationship between the concepts network position and the network change that has not been discussed within the network approach in great detail.

Another major contribution of the study is the analysis of the role that network pictures play in actors' efforts to change their network position. The study develops seven propositions in an attempt to describe the role of network pictures in network change. So far, the relevant literature discusses network pictures mainly as a theoretical concept. Finally, the chapter concludes with important implications for management practice.

Details

Interfirm Networks: Theory, Strategy, and Behavior
Type: Book
ISBN: 978-1-78052-024-7

Keywords

Article
Publication date: 30 November 2007

Tanay Kumar Nandi and Ritankar Sahu

It is to be noted that there is prevalent widespread opposition, specially by the left parties towards FDI in retail trade in India. May be in the early 1990s employing safeguards…

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Abstract

It is to be noted that there is prevalent widespread opposition, specially by the left parties towards FDI in retail trade in India. May be in the early 1990s employing safeguards to protect domestic retailers was the need of the day. Almost more than one and a half decades down the line there is a need for Foreign Direct Investment in retail trade. It is a flawed argument that the Wal‐Marts’, Tescos’ and Asdas’ will lead to the winding up of the small scale domestic retailers. Instead it is going to provide a stiff competition to the Pantaloons’ and the Westsides’. This paper starts by stressing the need of FDI in India. It uses the argument that FDI is allowed in multiple sectors and the effects have been quite good without harming the domestic economy tries to stress on the fact that FDI in retail sector must be allowed.

Details

Journal of International Trade Law and Policy, vol. 6 no. 2
Type: Research Article
ISSN: 1477-0024

Keywords

Article
Publication date: 1 March 1973

J. F. Pickering

Considers the main arguments on the question of the effect of the adoption of trading stamps on retail prices. Reveals from the studies that under normal conditions trading stamps…

Abstract

Considers the main arguments on the question of the effect of the adoption of trading stamps on retail prices. Reveals from the studies that under normal conditions trading stamps are an effective and worthwhile form of promotion to the retailer and the consumer.

Details

European Journal of Marketing, vol. 7 no. 3
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 1 April 1980

Olive Robinson and John Wallace

The purpose of this article is to examine the extent to which implementation of the Equal Pay Act 1970 in retail distribution has been influenced by the wages regulation orders of…

Abstract

The purpose of this article is to examine the extent to which implementation of the Equal Pay Act 1970 in retail distribution has been influenced by the wages regulation orders of the industry's Wages Councils. In concentrating on machinery for determining statutory minimum levels of remuneration (SMR) it is recognised that there are obvious dangers in ignoring the role played by collective bargaining, and of drawing conclusions about pay which are unrelated to total earnings. In particular branches of retailing, notably in co‐operative societies and amongst multiple organisations, pay and other conditions of employment are negotiated almost entirely by the Union of Shop, Distributive and Allied Workers (USDAW). The general image of retail employment nevertheless remains one of low pay. Negotiated pay structures provide minimum rates which are low in comparison with those in most other industries, and the coverage of trade union recognition and negotiation has not achieved a level sufficient to question the need for statutory minimum wages regulation in the industry as a whole. It will be shown that retail Wages Councils place severe restrictions in the way of progress towards equal treatment of men and women by fixing SMRs bearing a minimal relationship to men's total earnings — an argument which may be applied with only slight modification to the functioning of the industry's main collective agreements, in which the lowest‐paid occupations are those held almost entirely by women.

Details

International Journal of Social Economics, vol. 7 no. 4
Type: Research Article
ISSN: 0306-8293

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