Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal最新文献

{"title":"Impact of COVID-19 on Business Organization, Industries and Economy","authors":"N. Soni","doi":"10.2139/ssrn.3675674","DOIUrl":"https://doi.org/10.2139/ssrn.3675674","url":null,"abstract":"The pestiferous corona virus has carried unforeseen wavering into the business organizations globally. With this virus, the world is facing a health pandemic along with confronting the economic downfall. Industrial sector is facing the decline as well. Millions of employees have lost their jobs. In this paper I discuss the challenges and some remedial steps for business organizations, industries and world economies to recover from the virus and bring themselves into stabilization. Like other sectors government also has to re imagine how new policies get the economy to restart the growth. The comprehensive study of the commercial, industrial and other sector losses are emphasized in this paper. Remedies for each sector to overcome the losses are provided with considering required containment measures for the virus. Then lastly, I cover the comparison of COVID-19 with Influenza pandemic 1918.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126201651","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}

{"title":"Product Market Competition in Accounting, Finance, and Corporate Governance: A Review of the Literature","authors":"Md. Babar, Ahsan Habib","doi":"10.2139/ssrn.3674707","DOIUrl":"https://doi.org/10.2139/ssrn.3674707","url":null,"abstract":"Abstract Product market competition has been identified as one of the most powerful corporate governance tools for motivating managers to maximize firm value. Consistent with this view, a large body of theoretical and empirical research over the years has investigated the implications of product market competition. This paper synthesizes and critically evaluates the empirical literature on the consequences of product market competition in the accounting, finance, and corporate governance domains. Our review focuses on issues like financial reporting quality, analyst forecasting activities, asset pricing, investment, and financing decisions, and the substitutive versus complementary relationships between product market competition and other corporate governance tools. Our review suggests that, although market competition has profound implications for these issues, the empirical findings often provide conflicting results. We highlight such contradictory findings and offer suggestions for future research. Our review will help researchers intending to further investigate the implications of product market competition, both in the US and internationally.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130026303","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}

{"title":"Financial Statement Analysis of NIKE","authors":"Mohammed Almani, Haitham Nobanee","doi":"10.2139/ssrn.3675026","DOIUrl":"https://doi.org/10.2139/ssrn.3675026","url":null,"abstract":"We have worked on this research that could help us to evaluate Nike corporation quickly and going through its annual reports that help the investors to evaluate the company easily and in this research its shows what is Nike organization and the financial ratios that I used to analyze the company by using its annual reports such as income statement and balance sheet. I have reported figures and tables for the ratios that can show is Nike’s profitability.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122969985","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}

{"title":"Exclusive Brand Outlet Expansion Framework for Lifestyle Brands in India (EBOE-LS)","authors":"Ganesha H. R., P. Aithal","doi":"10.2139/ssrn.3670111","DOIUrl":"https://doi.org/10.2139/ssrn.3670111","url":null,"abstract":"Though EBOs’ (Exclusive Brand Outlet) risk-mitigation is a collective responsibility of lifestyle brand and the expansion partner (franchisee), a majority of lifestyle brands in India believe that the risk of capital investment/recurring expenses of EBOs and profit generated by EBOs has to be owned by the expansion partner. This belief and unbalanced business strategy of lifestyle brands though attract franchisees in the early stages of EBO expansion due to the brand’s reputation in the market or initial lucrative contract terms, it seriously fails to bring any long-term strategic and competitive advantages to the lifestyle brand as the drop-out rate of expansion partners increase significantly after one year of operation. This belief is also distracting lifestyle brands from understanding the long-term positive impact of EBO expansion frameworks that could balance the risk-mitigation and profits between the brand and the expansion partner. A single theory, model and framework of ‘Firm-Contracts’ and ‘Distribution Systems’ from the existing literature available across perspectives, paradigms, and areas of study (Economics, Business Law, Market Penetration, Business Strategy, Marketing and so on) is not entirely applicable that could be adopted to suit lifestyle brand’s EBO expansion plan in India and designing a framework without empirical pieces of evidence is also not appropriate. In this study, (i) we have studied existing theories, models and frameworks relevant to market penetration and expansion; (ii) analyzed 24 months’ of actual EBO data of a few select organized lifestyle brands in India across their existing expansion models; (iii) borrowed experimental findings and insights from previous studies relevant in this context, to identify key decision and investment-making areas that could result in a balanced business contract between a lifestyle brand and the expansion partner thereby designing an economical/effective framework that would be useful in deployment of appropriate tactics of deciding a right EBO type for every City Type and the Store Location by a lifestyle brand in India. The framework is named as EBOE-LS.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125177478","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}

{"title":"Efficient Satisfaction Building: A Comparative Study of Ski Resorts","authors":"Bozana Zekan, J. Mazanec","doi":"10.2139/ssrn.3674798","DOIUrl":"https://doi.org/10.2139/ssrn.3674798","url":null,"abstract":"\u0000 Destination managers aim at assuring high visitor satisfaction. Efficiency in satisfaction building has been a neglected issue in tourism research. In this study the authors examine the levels of efficiency which ski resorts attain in pursuing this objective. Configurations of satisfaction dimensions lead to some level of overall satisfaction. If high ratings for all dimensions are not necessary for achieving top overall satisfaction, destination managers get room for efficiency improvement. In a mixed-methods approach the authors analyze data from a sample of 54 Austrian, French, German, Italian, and Swiss ski resorts based on a survey totaling 12,234 cases. The two methods, Qualitative Comparative Analysis (QCA) and Data Envelopment Analysis (DEA), complement each other. An individual satisfaction item contributes to overall satisfaction depending on the simultaneous value of other items. QCA shows the holistic effect of such item configurations. DEA extracts the differences with regard to efficient satisfaction building and paves the way for resort benchmarking by proposing best-fitting benchmarking partners. Results indicate that destinations need not deliver top service quality in all satisfaction dimensions to achieve above average overall satisfaction. 33 out of 54 resorts turn out to be inefficient in their satisfaction building efforts.\u0000","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114829984","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}

{"title":"Store-Brand Introduction and Multilateral Contracting","authors":"Quan Zheng, H. Jang, X. Pan","doi":"10.1287/MSOM.2020.0949","DOIUrl":"https://doi.org/10.1287/MSOM.2020.0949","url":null,"abstract":"Problem definition: We explore the impacts of store-brand (SB) introduction on multilateral contracting in vertical supply relationships that involve two upstream national-brand manufacturers (NBMs) selling through a common retailer. Two different information structures are scrutinized: simultaneous (secret offers) versus sequential contracting (public offers), essentially different timing by which the NBMs contract with the retailer. Academic/practical relevance: SB products are prevalent nowadays; however, the market shares in different categories vary substantially, from negligible sales (e.g., alcoholic beverages) to more than half of the total sales (e.g., milk). As retailers encroach on the NBMs’ product market, their relationships are reshaped accordingly. Thus, investigating whether SB introduction would overturn the conventional wisdom about multilateral contracting is pertinent. Methodology: The methodology is noncooperative game theory. Results: We identify a boundary equilibrium where the sale of the SB is negligible, but its presence enables the retailer to intensify the upstream competition and elicits better wholesale contracts. We show that this equilibrium tends to occur in a wider region under sequential contracting than under simultaneous contracting. In the boundary equilibrium of sequential contracting, the NBM could entail a first-mover advantage, a stark contrast to the second-mover advantage in the nonboundary equilibrium. Further, as opposed to the uniqueness of sequential contracting, we characterize a continuum of boundary equilibria under simultaneous contracting such that symmetric NBMs may even set asymmetric wholesale prices so as to drive the SB out of the market. Managerial implications: We provide a rationale for the observed negligible sales of certain SBs and further shed light on the choice between public and secret offers. Public offers could perform better for the retailer who, in turn, benefits from information leakage. With public offers, the NBMs’ preference for the leadership could also be reversed for SBs with negligible sales. Because of the intricate impact of SBs on contracting sequence, these two instruments should be jointly analyzed.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128840641","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}

{"title":"Does Public Enforcement Work in Weak Investor Protection Countries? Evidence from China","authors":"B. Ke, Xiaojun Zhang","doi":"10.2139/ssrn.2606669","DOIUrl":"https://doi.org/10.2139/ssrn.2606669","url":null,"abstract":"Exploiting two Chinese corporate governance law enforcement campaigns in 2002 and 2007, we provide insight into how to make public enforcement work in weak institutional environments. Both campaigns aim to enforce the same mandatory Corporate Governance Code but differ in three important aspects. First, the 2007 campaign was more transparent with regard to the disclosure and correction of identified corporate governance noncompliance problems. Second, the 2007 campaign required the CSRC regional offices to be more involved in monitoring the implementation of the public enforcement campaign. Third, the 2007 campaign imposed more binding penalties for firms that fail to timely correct the identified governance noncompliance problems. Our analyses suggest that the 2002 campaign was not successful but the 2007 campaign was in improving publicly listed firms’ corporate governance and shareholder value. Our results suggest that public enforcement, if properly implemented, still matters in increasing shareholder value even in weak investor protection countries.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126574402","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}

{"title":"Competitive Imperfect Price Discrimination and Market Power","authors":"Paul Belleflamme, W. Lam, W. Vergote","doi":"10.1287/mksc.2020.1234","DOIUrl":"https://doi.org/10.1287/mksc.2020.1234","url":null,"abstract":"This article investigates how firms compete when they have the ability to set a personalized price to those consumers they can profile and a uniform price to those consumers they cannot profile; how this affects the incentives to supply data analytics to firms; and what, if any, policy recommendations can be provided.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126467761","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}

{"title":"Directors’ Remuneration and Performance: Evidence from the Textile Sector of Bangladesh","authors":"B. Hossain","doi":"10.13106/jafeb.2020.vol7.no6.265","DOIUrl":"https://doi.org/10.13106/jafeb.2020.vol7.no6.265","url":null,"abstract":"This study investigates the impact of board incentives as proxied by directors` remuneration on the financial performance of listed textile companies in Bangladesh. Using Generalized Method of Moments (GMM) and data pertaining to listed textile companies of Dhaka Stock Exchange (DSE) during the period from 2011 to 2017 (resulting in a total of 140 firm-year observations), we have estimated the firm performance equation involving directors’ remuneration and board independence as the independent variables and some other control variables like firm age, size, leverage, and operating efficiency. The results reveal that there is a negative association between board remuneration and firm performance. In addition, this study finds no significant relationship between board independence and firm performance of the sample firms. Our findings suggest that higher pay to the board does not stimulate higher firm performance and, in turn, results in shareholders getting nothing in return from this and, hence, is a matter of great concern for them. Moreover, our results indirectly indicate that currently directors` remuneration in Bangladesh is not aligned with the firm performance, which has been emphasized in extant corporate governance literature. Besides, this paper further raises questions about the effectiveness of independent directors in the boards of textile firms in Bangladesh.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122714238","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}

{"title":"The Impact of Capital Structure and Dividend Policy on Firm Performance: A Cross Cultural Study","authors":"M. Zahid","doi":"10.2139/ssrn.3638251","DOIUrl":"https://doi.org/10.2139/ssrn.3638251","url":null,"abstract":"This study is basically the impact of corporate finance on the firm performance. Two major pillars of the corporate finance are taken into the consideration for measurement of the corporate finance impact on firm performance. This concluded the results by judging the impact of capital structure and the dividend policy on firm performance. This study is cross sectional and cross cultural. South Asian countries have been taken into consideration as population and sample has been taken from manufacturing and food sectors of PSE, BSE, DSE and CSE. Overall 187 companies of four countries have been examined during the study. Panel data regression model is used to conclude the results. We have selected 6 manufacturing sectors for estimation and conclusion covering a time span of 10 years from 2007-2016. Two ratios of firm financial performance are considered to measure the impacts. Two ratios each for measurement of capital structure and dividend policy have been taken as proxies. Our results have shown highly positive impact of dividend policy on firm performance where capital structure has shown highly but negative impact on firm performance. Future research gap has also given on sector, region and variables classification. Recommendations on the basis of conclusions are also given for investors to invest in dividend paying firms, researchers to more deeply dig dividend policy and governments for new legislation's.","PeriodicalId":236490,"journal":{"name":"Emerging Markets Economics: Firm Behavior & Microeconomic Issues eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131124724","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}