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Book part
Publication date: 20 April 2023

Mesut Savrul

The COVID-19 pandemic has demonstrated the increasing need for digital solutions to maintain economic and social activities remotely. Times of physical distancing made it clear…

Abstract

The COVID-19 pandemic has demonstrated the increasing need for digital solutions to maintain economic and social activities remotely. Times of physical distancing made it clear that besides keeping trade running, they are crucial for education, health, work, etc. During the pandemic, e-commerce has played a growing role in global economic activity as part of the wider digital economy. As social distancing and movement restrictions become normal, businesses and consumers have become increasingly digital and provide and buy more goods and services online.

The noteworthy development in this process is that much earlier than the pandemic, in 2015, the European Commission started developing a Digital Single Market strategy which is aiming at bringing distinctive digital markets together across the Union. The Digital Single Market is a modern version of the European Union (EU) Common Market established in 1957, which allowed the free movement of goods, services, capital, and people all around the region. The fact that such an application was started long before the pandemic provided some vital advantages to the countries involved in the strategy during the pandemic process.

This study is investigating how the EU Digital Market and the policy implementations connected to it helped digital transformation of the countries of the EU. Digital Economy and Society Index, and E-Commerce and internet access data of Single Market countries are investigated within the scope of the study. The data covering 2011–2021 period is collected from the Eurostat database. When we studied the data, although it is possible to talk about a benefit for the EU in general, less developed countries of the region benefited more from the process.

Details

The European Union in the Twenty-First Century
Type: Book
ISBN: 978-1-80382-537-3

Keywords

Article
Publication date: 7 September 2015

Javier Rodríguez and Wilfredo Toledo

Single-listed American depositary receipts (ADRs) are traded in US markets, while their underlying share is not listed in the firm’s home market. The purpose of this paper is to…

Abstract

Purpose

Single-listed American depositary receipts (ADRs) are traded in US markets, while their underlying share is not listed in the firm’s home market. The purpose of this paper is to empirically examine the factors affecting the returns and volatility of a sample of Chinese single-listed ADRs, in comparison with traditional Chinese ADRs.

Design/methodology/approach

The methods used in this paper are similar to those used in the examination of traditional or dual-listed Chinese ADRs. However, motivated by the very nature of single-listed ADRs, the authors estimate a base model which includes factors from the two presumably most important markets for single-listed Chinese ADRs (i.e. the Chinese and US markets). In all of the estimations, the authors follow a two-step procedure. First, the authors estimate a GARCH(1,1) model with the mean equation modeled as an AR(p) process and from those models estimate GARCH (conditional) variances.

Findings

In line with the evidence on traditional Chinese ADRs, the authors find that both the Chinese and the US markets are important predictors of single-listed ADR returns. The results are robust to variations in the model specifications.

Originality/value

Single-listed ADR return behavior is still an under-researched topic. In this paper, the authors contribute to the literature on Chinese single-listed ADRs by empirically examining the determinants of their mean return and volatility.

Details

International Journal of Managerial Finance, vol. 11 no. 4
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 14 November 2016

Javier Rodriguez and Herminio Romero

The purpose of this paper is to contrast market risk exposure and diversification of single-listed American depository receipts (“ADRs”) with those of dual-listed ADRs from the…

Abstract

Purpose

The purpose of this paper is to contrast market risk exposure and diversification of single-listed American depository receipts (“ADRs”) with those of dual-listed ADRs from the same geographical region during 2004-2012.

Design/methodology/approach

The study uses orthogonal returns in two-factor models to infer exposure to the US and ADRs’ home markets.

Findings

The authors found that both ADR types provide no diversification and are significantly exposed to US market risk. The authors also found that portfolios of both single- and dual-listed ADRs behave significantly differently than their home markets.

Originality/value

Only several academic papers discuss single-listed ADRs, and to the best of the knowledge, this study is the first to assess their diversification value.

Details

Managerial Finance, vol. 42 no. 11
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 April 1990

John J. Burnett

While bank management has become aware of theneed to identify and assess potential marketsegments carefully, single persons remain asegment overlooked. This study addresses…

Abstract

While bank management has become aware of the need to identify and assess potential market segments carefully, single persons remain a segment overlooked. This study addresses the need to view singles as heterogeneous in composition and behaviour. Three categories of singles (divorced, widowed, never married) and a sample of married individuals were compared in respect to a number of bank‐related variables. The findings support the need to distinguish between the types of singleness. Theoretical and pragmatic implications are discussed.

Details

International Journal of Bank Marketing, vol. 8 no. 4
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 1 April 1987

Barbara B. Stern, Stephen J. Gould and Benny Barak

This article examines single baby boom consumers on demographic and psychographic dimensions tested in a survey of 267 respondents. We found differences between singles and…

Abstract

This article examines single baby boom consumers on demographic and psychographic dimensions tested in a survey of 267 respondents. We found differences between singles and marrieds in social self‐image, age identification, nature and frequency of leisure activities, and shopping habits. Singles are characterized as “Social Seekers” because they socialize more and show more concern with their social image than marrieds. Marketing implications exist for a variety of products related to gender and marital status.

Details

Journal of Consumer Marketing, vol. 4 no. 4
Type: Research Article
ISSN: 0736-3761

Article
Publication date: 1 April 1997

Philip Woolfson

The Single Market in financial services (investment funds, banking, insurance and investment services) has had a long gestation and has been a mixed success. It is now faced with…

Abstract

The Single Market in financial services (investment funds, banking, insurance and investment services) has had a long gestation and has been a mixed success. It is now faced with a new challenge, the adaptation of the Community regulatory framework to an electronic environment. This paper reviews progress in creating a Single Market in financial services, in particular the application of freedoms to provide services and of establishment and the principles of mutual recognition, home country control and the single licence. It also identifies issues in relation to electronic advertising, marketing and provision of financial services on a cross‐border basis. The paper seeks to show that existing and proposed Community legislation provides a framework for future development of this new medium:

Details

Journal of Financial Regulation and Compliance, vol. 5 no. 4
Type: Research Article
ISSN: 1358-1988

Article
Publication date: 1 March 1992

Raydel Tullous and Richard Lee Utrecht

Examines the combinations available to purchasers regarding theselection of suppliers (sources), e.g. the use of a single or two ormore (multiple) sources. Considers the…

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Abstract

Examines the combinations available to purchasers regarding the selection of suppliers (sources), e.g. the use of a single or two or more (multiple) sources. Considers the justification of either method in the context of reducing the uncertainty (risk) of a particular purchase. Illustrates the marketers view of sourcing and the differing sales tactics employed according to the suppliers′ preferences. Concludes that purchasers should examine uncertainty buying‐selling situations (UBSS) objectively with regard to their own organizations′ need criteria, e.g. cost and timeliness, this determining the relevant sourcing policy.

Details

Journal of Business & Industrial Marketing, vol. 7 no. 3
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 10 July 2020

Ergin Akalpler

This study aims to research the effects of unemployment wages current account and consumer price index (CPI) on the real gross domestic product (RGDP), which, in the optimum…

Abstract

Purpose

This study aims to research the effects of unemployment wages current account and consumer price index (CPI) on the real gross domestic product (RGDP), which, in the optimum currency area (OCA) theory, supposes that countries with higher factor mobility can significantly profit from the currency area. However, in this study, it is shown that the considered optimum currency crisis (OCC) model is affected by mobility factors, as the defined theory has not been perfectly realised in the Eurozone.

Design/methodology/approach

In this study, Breusch–Pagan–Godfrey and Lagrange multiplier (LM) tests are used for supporting the survey for better estimation of the panel cointegration tests, where Pedroni's (1995, 1997) technique is used. The unit root tests are employed, of which the Phillip–Perron and augmented Dickey–Fuller tests (unit root test, Dickey, D. and W. Fuller, 1979) are considered.

Findings

It can be concluded that demand shocks will tend to be more asymmetric instead of being symmetric, even though they are in the customs union (CU). However, Polish workers in a given scenario may move to Germany, but because of the rigidity of the labour market and qualification differences between workers, the interregional integration of member countries is reduced, and this reduces the absorption of asymmetric shocks. In Germany, where strong employment protection and rigidity are observed in comparison to Poland, although there has been historical migration and economical collaboration, unfortunately, the integration of the two countries’ economies has not been realised.

Research limitations/implications

Quantitative research on fiscal union and the estimation of its effects is not possible because there is no practical experience of fiscal union throughout the European Union (EU). However, quantitative research is used for estimating the effects of OCA in the Eurozone. Quantitative investigation is particularly focused on the monetary union and single currency and its impact on growth rate. In this study, the ordinary least squares (OLS) method and panel cointegration test are employed for estimating the effects of the considered variables.

Practical implications

The Eurozone and the application of a single currency throughout the EU was a considerably difficult task. In addition, the adoption of a single currency was not easy for those member countries that fulfilled the “convergence criteria” (or “Maastricht criteria”) and who joined the Eurozone, because only adoption is not enough; maintenance of those criteria is also required. This study analysed the application of the Eurozone in the light of the OCA of Mundel's theory.

Social implications

The OCA is important for member countries’ economic relations. However, the application of a single currency is not easy and needs to be controlled and regulated to ensure best practises throughout the Eurozone. Monetary integration is not a simple process, and Eurozone countries’ financial difficulties affect each other’s markets’ indifferent aspects. Particularly in any market recession, demand shocks tend to have different effects. Furthermore, in comparison to the monetary union, the CU has a considerable impact on trade enlargement.

Originality/value

In this study, the effects of the independent variables “wages, unemployment, CPI and capital flow” on the dependent variable “RGDP” is considered, which, in the OCA theory, supposes that countries with higher factor mobility can significantly profit from the currency area. In application, it was turned into crisis because of inadequate monetary and fiscal application. In this paper OCA is questioned in the light of the Eurozone for bringing better understanding to these difficulties. The considered model and estimations are used for evaluating to create sustainable monetary integration for economic growth.

Details

Journal of Economic and Administrative Sciences, vol. 37 no. 1
Type: Research Article
ISSN: 1026-4116

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…

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Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Article
Publication date: 1 April 1992

Kulwant S. Pawar and Helen Driva

Reports on the findings of research undertaken at the University ofNottingham into Computing Services firms in the UK. The studyparticularly focuses on firms who are currently…

Abstract

Reports on the findings of research undertaken at the University of Nottingham into Computing Services firms in the UK. The study particularly focuses on firms who are currently exporting to Germany. The implications of the European Single Market and the changes which will affect the Computing Services (CS) sector are discussed along with a full examination of the current state of the German market. Information from the research of successful entrants and results of interviews with the Department of Trade and Industry (DTI) have also been included. The development of the European Community′s policy, together with the views of successful organizations operating in the CS market, provide an insight into some of the factors influencing planning for 1992 and act as a useful starting point for new entrants. Finally, proposes guidelines for computing services firms intending to enter the German market.

Details

European Business Review, vol. 92 no. 4
Type: Research Article
ISSN: 0955-534X

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