ERN: Market Structure (Topic)最新文献

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Механизм согласования спроса и предложения на рынке профессиональных образовательных услуг (The Mechanism of Coordination of Supply and Demand in the Market of Professional Educational Services)
ERN: Market Structure (Topic) Pub Date : 2013-06-20 DOI: 10.2139/SSRN.2283627
A. Gavrilov, Albina Mikhailovna Ozina
{"title":"Механизм согласования спроса и предложения на рынке профессиональных образовательных услуг (The Mechanism of Coordination of Supply and Demand in the Market of Professional Educational Services)","authors":"A. Gavrilov, Albina Mikhailovna Ozina","doi":"10.2139/SSRN.2283627","DOIUrl":"https://doi.org/10.2139/SSRN.2283627","url":null,"abstract":"Russian Abstract: В модернизируемой экономике роль системы профессионального образования как основы формирования предложения на рынке труда относится особенно значимой. Усиление ориентированности профессиональной школы на потребности региональной экономики может быть обеспечено на основе формулирования организационного механизма согласования спроса и предложения профессиональных образовательных услуг, структура которого предложена в статье.English Abstract: In modernized economy the role of professional education as bases of formation of the offer on a labor market is especially significant. Strengthening of orientation of vocational school on requirement of regional economy can be provided on the basis of a formulation of the organizational mechanism of coordination of supply and demand of the professional educational services which structure is offered in article.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126540645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Great, Madama Butterfly Again! How Robust Market Identity Shapes Opera Repertoires 太好了,又是蝴蝶夫人!强大的市场认同如何塑造歌剧剧目
ERN: Market Structure (Topic) Pub Date : 2013-04-29 DOI: 10.1287/orsc.2013.0836
M. Jensen, Bo Kyung Kim
{"title":"Great, Madama Butterfly Again! How Robust Market Identity Shapes Opera Repertoires","authors":"M. Jensen, Bo Kyung Kim","doi":"10.1287/orsc.2013.0836","DOIUrl":"https://doi.org/10.1287/orsc.2013.0836","url":null,"abstract":"We develop a theoretical framework to explain how two aspects of market structures—divergent and convergent audience preference and within- and between-category competition—shape market identities. We focus specifically on robust market identities, an underresearched type of identity defined as balanced membership in divergent social categories. We argue that these identities are most prevalent in markets with more divergent audiences and less within-category competition. We test our arguments in the U.S. opera market. Statistical analyses of 96 opera companies’ opera repertoires from 1995 to 2005 support our arguments: U.S. opera companies enact robust market identities by systematically balancing conventional and unconventional operas depending on the divergence of their audiences and the competitive pressure from other opera companies.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114865068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 25
Market Niches – The Direction of Programme-Market Restructuring 市场利基-计划的方向-市场重组
ERN: Market Structure (Topic) Pub Date : 2013-03-22 DOI: 10.2139/ssrn.2237800
Drago Dubrovski
{"title":"Market Niches – The Direction of Programme-Market Restructuring","authors":"Drago Dubrovski","doi":"10.2139/ssrn.2237800","DOIUrl":"https://doi.org/10.2139/ssrn.2237800","url":null,"abstract":"In this conceptual and empirical article we brought into focus the market niches which are defined as a newly discovered or created market area formed by a group of customers characterised by a specific demand that can be satisfied merely by an adjusted, unique and highly differentiated offer. Our final conclusion is that in the changed business circumstances as a consequence of processes of globalisation and integration, market niches and narrowly defined segments are the opportunities of companies from transitional countries (e.g. Slovenia) in international markets.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128868600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Tourism Overview: Changing End Markets and Hyper Competition 旅游概览:不断变化的终端市场和激烈竞争
ERN: Market Structure (Topic) Pub Date : 2013-03-21 DOI: 10.2139/ssrn.2237497
M. Christian, D. Nathan
{"title":"Tourism Overview: Changing End Markets and Hyper Competition","authors":"M. Christian, D. Nathan","doi":"10.2139/ssrn.2237497","DOIUrl":"https://doi.org/10.2139/ssrn.2237497","url":null,"abstract":"Abstract This overview of tourism research conducted by Capturing the Gains covers cases from Asia (China, Indonesia and India), and Africa (Kenya, South Africa and Uganda). The tourism value chain is outlined and changes in the relative roles of different agencies discussed. The paper analyses the changes in the composition of tourists in these countries and the resultant change in relative importance of national and international tour agencies. Our findings suggest that benefits from the growth of tourism are unevenly distributed, with the oligopolistic nature of the tour agencies and hyper-competition among service providers even resulting in some cases of below-cost provision of destination services. These commercial value chain dynamics have led to precarious employment arrangements. There is a synthesis of the nature of employment in tourism, with a large presence of own-account and other forms of informal employment. Ways of dealing with the oligopolistic buyers’ market are discussed, including branding and organization by destination service providers. Methods of improving the gains of women and other workers are also addressed, such as the role of workers’ organization and state-supported social security measures.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125327585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
What Do We Know About High-Frequency Trading? 我们对高频交易了解多少?
ERN: Market Structure (Topic) Pub Date : 2013-03-20 DOI: 10.2139/ssrn.2236201
C. Jones
{"title":"What Do We Know About High-Frequency Trading?","authors":"C. Jones","doi":"10.2139/ssrn.2236201","DOIUrl":"https://doi.org/10.2139/ssrn.2236201","url":null,"abstract":"This paper reviews recent theoretical and empirical research on high-frequency trading (HFT). Economic theory identifies several ways that HFT could affect liquidity. The main positive is that HFT can intermediate trades at lower cost. However, HFT speed could disadvantage other investors, and the resulting adverse selection could reduce market quality.Over the past decade, HFT has increased sharply, and liquidity has steadily improved. But correlation is not necessarily causation. Empirically, the challenge is to measure the incremental effect of HFT beyond other changes in equity markets. The best papers for this purpose isolate market structure changes that facilitate HFT. Virtually every time a market structure change results in more HFT, liquidity and market quality have improved because liquidity suppliers are better able to adjust their quotes in response to new information.Does HFT make markets more fragile? In the May 6, 2010 Flash Crash, for example, HFT initially stabilized prices but were eventually overwhelmed, and in liquidating their positions, HFT exacerbated the downturn. This appears to be a generic feature of equity markets: similar events have occurred in manual markets, even with affirmative market-maker obligations. Well-crafted individual stock price limits and trading halts have been introduced since. Similarly, kill switches are a sensible response to the Knight trading episode.Many of the regulatory issues associated with HFT are the same issues that arose in more manual markets. Now regulators in the US are appropriately relying on competition to minimize abuses. Other regulation is appropriate if there are market failures. For instance, consolidated order-level audit trails are key to robust enforcement. If excessive messages impose negative externalities on others, fees are appropriate. But a message tax may act like a transaction tax, reducing share prices, increasing volatility, and worsening liquidity. Minimum order exposure times would also severely discourage liquidity provision.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132441097","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 193
An Internationalization Model to Enter the Northern Triangle Market 进入北三角市场的国际化模式
ERN: Market Structure (Topic) Pub Date : 2013-01-31 DOI: 10.2139/ssrn.2393229
C. Marín, John García
{"title":"An Internationalization Model to Enter the Northern Triangle Market","authors":"C. Marín, John García","doi":"10.2139/ssrn.2393229","DOIUrl":"https://doi.org/10.2139/ssrn.2393229","url":null,"abstract":"An internationalization model is proposed for a Colombian company specialized in design and consulting engineering services related to the energy sector. The study of these services is relatively new in internationalization and competitiveness, therefore of great interest for research purposes. The model is created with the purpose of conquering the Northern Triangle market (Guatemala, Honduras, El Salvador). Different internationalization theories, such as the Eclectic Paradigm, the Uppsala Model and the Five Competitive Forces were considered. Different assessments were carried out based on qualitative and quantitative data through the case study method in which analyses were performed to generate and evaluate the main variables in the model. Outcomes assure that, HMV Ingenieros Ltda (a Colombian company) is prepared to start commercial presence in the Northern Triangle considering the Step-by-Step model as the way to reach the studied market. In addition, analysis of macroeconomic trends finds Guatemala as the best potential market.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117104753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Competition and Incentive to Reveal Information in Financial Markets 金融市场信息披露的竞争与激励
ERN: Market Structure (Topic) Pub Date : 2012-07-21 DOI: 10.2139/ssrn.2115094
Sitikantha Parida
{"title":"Competition and Incentive to Reveal Information in Financial Markets","authors":"Sitikantha Parida","doi":"10.2139/ssrn.2115094","DOIUrl":"https://doi.org/10.2139/ssrn.2115094","url":null,"abstract":"In this paper I study the impact of competition in financial markets on incentive to reveal information. In a sample of mutual funds, I find that discretionary portfolio disclosure and advertising related expenses decrease with competition. This is interesting, as one would ordinarily expect funds to disclose more often and incur more advertising expenses in response to pressure from competing funds. However, this supports the theory that mutual funds use discretionary portfolio disclosure and advertising as marketing tools to attract new investments in a financial market, where superior relative performance and greater visibility are rewarded with convex payoffs. With higher competition, the likelihood of landing new investments goes down for each fund and at the same time the cost of disclosure goes up. Funds respond by cutting down on costly discretionary disclosure of portfolio holding information and advertising related activities. Thus competition seems to have adverse impact on market transparency and search cost.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122030306","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The Hayek Hypothesis and Long Run Competitive Equilibrium: An Experimental Investigation 哈耶克假说与长期竞争均衡:一个实验研究
ERN: Market Structure (Topic) Pub Date : 2012-06-21 DOI: 10.2139/ssrn.2089077
Jason M. Shachat, Zhenxuan Zhang
{"title":"The Hayek Hypothesis and Long Run Competitive Equilibrium: An Experimental Investigation","authors":"Jason M. Shachat, Zhenxuan Zhang","doi":"10.2139/ssrn.2089077","DOIUrl":"https://doi.org/10.2139/ssrn.2089077","url":null,"abstract":"We report on an experiment investigating whether the Hayak Hypothesis (Smith, 1982) extends to the long run setting. We consider two environments; one with a common production technology having a U-shaped long run average cost curve and a single competitive equilibrium, and another with a common constant returns to scale technology having a constant long run average cost curve and multiple competitive equilibria. While there is convergence in both environments to the long run equilibrium, it takes longer and is less robust than usually observed in the short run setting. We show that price formation is adaptive and quickly converges to realized short run equilibrium, but long run investment decisions exhibit very limited rationality. We present and estimate an investment choice model that shows that only minimal rationality, coupled with repeated decisions, is enough to achieve high long run allocative efficiency when markets use continuous double auctions.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123337161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Hidden Liquidity: Some New Light on Dark Trading 隐藏的流动性:对暗交易的一些新认识
ERN: Market Structure (Topic) Pub Date : 2011-12-05 DOI: 10.2139/ssrn.2019235
R. Bloomfield, Maureen O'Hara, Gideon Saar
{"title":"Hidden Liquidity: Some New Light on Dark Trading","authors":"R. Bloomfield, Maureen O'Hara, Gideon Saar","doi":"10.2139/ssrn.2019235","DOIUrl":"https://doi.org/10.2139/ssrn.2019235","url":null,"abstract":"type=\"main\"> Using a laboratory market, we investigate how the ability to hide orders affects traders’ strategies and market outcomes in a limit order book environment. We find that order strategies are greatly affected by allowing hidden liquidity, with traders substituting nondisplayed for displayed shares and changing the aggressiveness of their trading. As traders adapt their behavior to the different opacity regimes, however, most aggregate market outcomes (such as liquidity and informational efficiency) are not affected as much. We also find that opacity appears to increase the profits of informed traders but only when their private information is very valuable.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125784788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 90
Barriers to Exporting: What are They and Who Do They Matter to? 出口壁垒是什么?对谁有影响?
ERN: Market Structure (Topic) Pub Date : 2011-06-01 DOI: 10.1111/j.1467-9701.2011.01357.x
R. Kneller, M. Pisu
{"title":"Barriers to Exporting: What are They and Who Do They Matter to?","authors":"R. Kneller, M. Pisu","doi":"10.1111/j.1467-9701.2011.01357.x","DOIUrl":"https://doi.org/10.1111/j.1467-9701.2011.01357.x","url":null,"abstract":"The international trade literatures on gravity modelling and firm‐level export behaviour have established that nontariff barriers are important impediments to international trade flows. In this paper, we provide fresh evidence on the actual barriers to exports firms face and how they vary with firm‐level characteristics. Our results indicate that the higher the export experience of firms the lower are the trade costs they face. These barriers are not related to other firm‐level characteristics, such as productivity and size, found by the literature to be associated with export market entry. Overall, these results suggest the existence of a process of learning to export whereby firms learn how to cope with export barriers through direct experience in export markets.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130771901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 67
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