Pub Date : 2021-04-01DOI: 10.18178/IJTEF.2021.12.2.691
N. Salim, M. N. A. Rahman, D. A. Wahab
Achieving and sustaining competitive advantage is a goal among firms, but it is increasingly challenging in a rapid changing and sophisticated environment. Most of the environmental management undertaken by firms in developing countries are not able to increase the competitive advantage of the product. Hence, this study investigates proactive capabilities that need to be developed in a dynamic environment where it involves green product innovation, environmental proactivity, alliance pro-activeness, and knowledge-based dynamic capabilities that impact on competitive advantage performance. This study involved a survey of 157 manufacturing firms with ISO 14001 certification throughout Malaysia. By implementing structural equation modelling approach, the results provided evidence of positive and significant direct effects of green product innovation and environmental pro-activity on firm’s competitive advantage. The relationship of alliance pro-activeness was fully mediated by the presence of knowledge-based dynamic capabilities as a condition to survive and prosper in a competitive market.
{"title":"The Influence of Proactive Capabilities and Knowledge-Based Dynamic Capabilities on the Competitive Advantage of Manufacturing Firms","authors":"N. Salim, M. N. A. Rahman, D. A. Wahab","doi":"10.18178/IJTEF.2021.12.2.691","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.2.691","url":null,"abstract":"Achieving and sustaining competitive advantage is a goal among firms, but it is increasingly challenging in a rapid changing and sophisticated environment. Most of the environmental management undertaken by firms in developing countries are not able to increase the competitive advantage of the product. Hence, this study investigates proactive capabilities that need to be developed in a dynamic environment where it involves green product innovation, environmental proactivity, alliance pro-activeness, and knowledge-based dynamic capabilities that impact on competitive advantage performance. This study involved a survey of 157 manufacturing firms with ISO 14001 certification throughout Malaysia. By implementing structural equation modelling approach, the results provided evidence of positive and significant direct effects of green product innovation and environmental pro-activity on firm’s competitive advantage. The relationship of alliance pro-activeness was fully mediated by the presence of knowledge-based dynamic capabilities as a condition to survive and prosper in a competitive market.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121205276","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}
Pub Date : 2021-04-01DOI: 10.18178/IJTEF.2021.12.2.694
Haowei Ti, Zhi-an Hu, G. Bian
The Sino-US trade war has become more and more fierce. From March 2018 to the present, China and the United States have begun to constantly increase tariffs and restrict each other. Negotiations are still going on and it seems that no real progress has been made. Soybean procurement, sanctions against Huawei, chip battles, intellectual property wars, and technology transfer have been escalated, and both sides of the trade have been affected to varying degrees. At the end of 2019, if all the tariffs in the Trump plan were implemented, it meant that almost all goods from China (worth about $550 billion) would be subject to punitive tariffs. First Opium War‘ Britain often called it the first Sino-British war or "commercial war". It was a war of aggression launched by Britain from China from 1840 to 1842, and it was also the beginning of modern Chinese history. In 1840, the British government used Lin Zexu's Humen cigarettes as an excuse to decide to send the expeditionary forces to invade China. In June 1840, the British warships arrived in the Pearl River Estuary in Guangdong, blocking the seaport, and the Opium War began. The Chinese and British sides signed the "Nanjing Treaty", the first unequal treaty in Chinese history. China began to rip land, indemnify, and negotiate tariffs to foreign countries. The Nanjing Treaty seriously endangered China's sovereignty. China began to become a semi-colonial, semi-feudal society, losing its independent status and promoting the disintegration of the natural economy.
{"title":"Comparison between Sino-US Trade War and the Opium War of the Qing Dynasty","authors":"Haowei Ti, Zhi-an Hu, G. Bian","doi":"10.18178/IJTEF.2021.12.2.694","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.2.694","url":null,"abstract":"The Sino-US trade war has become more and more fierce. From March 2018 to the present, China and the United States have begun to constantly increase tariffs and restrict each other. Negotiations are still going on and it seems that no real progress has been made. Soybean procurement, sanctions against Huawei, chip battles, intellectual property wars, and technology transfer have been escalated, and both sides of the trade have been affected to varying degrees. At the end of 2019, if all the tariffs in the Trump plan were implemented, it meant that almost all goods from China (worth about $550 billion) would be subject to punitive tariffs. First Opium War‘ Britain often called it the first Sino-British war or \"commercial war\". It was a war of aggression launched by Britain from China from 1840 to 1842, and it was also the beginning of modern Chinese history. In 1840, the British government used Lin Zexu's Humen cigarettes as an excuse to decide to send the expeditionary forces to invade China. In June 1840, the British warships arrived in the Pearl River Estuary in Guangdong, blocking the seaport, and the Opium War began. The Chinese and British sides signed the \"Nanjing Treaty\", the first unequal treaty in Chinese history. China began to rip land, indemnify, and negotiate tariffs to foreign countries. The Nanjing Treaty seriously endangered China's sovereignty. China began to become a semi-colonial, semi-feudal society, losing its independent status and promoting the disintegration of the natural economy.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129442861","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}
Pub Date : 2021-04-01DOI: 10.18178/IJTEF.2021.12.2.693
N. H. Mai
The literature on plastic watse recently focus upon products such as plastic bag and plastic straw. However, there are products that create a very huge amount of waste such as plastic children's toys, have not received proper attention. Also, the need of green products for children's toys is essential since plastic children's toys were proved that contain heavy metals which are potential sources risk to children’s health. Therefore, this research aims at pioneering in doing investigate about consumer attitudes to plastic and environmentally friendly children's toys in Ho Chi Minh city, Vietnam. Also, propose green marketing activities for children's toy companies to become the leading recognized brand in the line of environmentally friendly product. A survey was conducted in Ho Chi Minh City in December 2019 with 200 respondents to assess their attitudes towards green products, especially green products for children. Based on the rationale and survey results, the research conclude that consumers’ attitudes towards green products and their level of interest in the current environmental situation are very positive. Respondents did understand the concept of green products in detail and pay much attention to famous green campaings and products. And there are statistics prove the high consumer awareness of environmentally friendly plastic toys. This forward-looking insights can create the potential for green marketing activities of children's toy companies.
{"title":"Investigating about Consumers’ Attitudes to Green Children's Toys Products in Vietnam","authors":"N. H. Mai","doi":"10.18178/IJTEF.2021.12.2.693","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.2.693","url":null,"abstract":"The literature on plastic watse recently focus upon products such as plastic bag and plastic straw. However, there are products that create a very huge amount of waste such as plastic children's toys, have not received proper attention. Also, the need of green products for children's toys is essential since plastic children's toys were proved that contain heavy metals which are potential sources risk to children’s health. Therefore, this research aims at pioneering in doing investigate about consumer attitudes to plastic and environmentally friendly children's toys in Ho Chi Minh city, Vietnam. Also, propose green marketing activities for children's toy companies to become the leading recognized brand in the line of environmentally friendly product. A survey was conducted in Ho Chi Minh City in December 2019 with 200 respondents to assess their attitudes towards green products, especially green products for children. Based on the rationale and survey results, the research conclude that consumers’ attitudes towards green products and their level of interest in the current environmental situation are very positive. Respondents did understand the concept of green products in detail and pay much attention to famous green campaings and products. And there are statistics prove the high consumer awareness of environmentally friendly plastic toys. This forward-looking insights can create the potential for green marketing activities of children's toy companies.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130822013","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}
Pub Date : 2021-04-01DOI: 10.18178/IJTEF.2021.12.2.692
A. C. D. S. Ferreira, A. Bufoni, J. F. D. L. Cueva, V. Maia, D. S. D. C. Vianna, uliana M. Queiroz
The Brazilian energy sector adopted a new regulation system in 2015 due to a system collapse threat. The system was changed to contractually incorporate firms’ economic-financial monitoring. This paper aims to assess the progress of this monitoring model toward achieving its goals. Thus, we proceed with a triangulation with three analyses. First, we analyse the literature to indicate if the economic-financial monitoring shows a hybrid form of adoption as suggested by the literature as the most suitable towards achieving regulatory goals. Second, we verify the perception of the economic-financial monitoring efficiency by the regulatory agency. Third, we evaluate the behaviour of some financial indicators before and after the new regulation. Our results show that, first, the economic-financial monitoring adopts a hybrid form which may drives better monitoring. Second, the perception of the regulator regarding efficiency of the financial monitoring model is favourable. Third, our results show that the sector leverage and profitability variances were significantly reduced after the implementation of financial monitoring which indicates less Asymmetric Information and consequently, better monitoring. In general, our results indicate some uncertainty reduction and more uniform behaviour of the entire sector after adopting an economic-financial monitoring system.
{"title":"Assessing the Brazilian Electric Sector’s Financial Monitoring Milestone","authors":"A. C. D. S. Ferreira, A. Bufoni, J. F. D. L. Cueva, V. Maia, D. S. D. C. Vianna, uliana M. Queiroz","doi":"10.18178/IJTEF.2021.12.2.692","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.2.692","url":null,"abstract":"The Brazilian energy sector adopted a new regulation system in 2015 due to a system collapse threat. The system was changed to contractually incorporate firms’ economic-financial monitoring. This paper aims to assess the progress of this monitoring model toward achieving its goals. Thus, we proceed with a triangulation with three analyses. First, we analyse the literature to indicate if the economic-financial monitoring shows a hybrid form of adoption as suggested by the literature as the most suitable towards achieving regulatory goals. Second, we verify the perception of the economic-financial monitoring efficiency by the regulatory agency. Third, we evaluate the behaviour of some financial indicators before and after the new regulation. Our results show that, first, the economic-financial monitoring adopts a hybrid form which may drives better monitoring. Second, the perception of the regulator regarding efficiency of the financial monitoring model is favourable. Third, our results show that the sector leverage and profitability variances were significantly reduced after the implementation of financial monitoring which indicates less Asymmetric Information and consequently, better monitoring. In general, our results indicate some uncertainty reduction and more uniform behaviour of the entire sector after adopting an economic-financial monitoring system.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129717797","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}
Pub Date : 2021-04-01DOI: 10.18178/IJTEF.2021.12.2.690
Elsa Nadia, C. Beatrice, Taghipour Atour
This work attempts to identify locational, structural and other attributes that have an effect on room rates in Beirut region. Therefore, a sample of 89 hotels were considered in this study. Data were collected from TripAdvisor website during March 2019, considered as a low season in Lebanon. An OLS regression analysis was used to identify significant variables. Results has shown a strong positive significance of star rating category and accessible rooms, and a strong negative significance of centrally located, business and safe labels. Hotel managers are advised to use current findings and analysis to adjust their pricing strategies and communicated image.
{"title":"The Determinants of Hotel Room Rates in Beirut: A Hedonic Pricing Model","authors":"Elsa Nadia, C. Beatrice, Taghipour Atour","doi":"10.18178/IJTEF.2021.12.2.690","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.2.690","url":null,"abstract":"This work attempts to identify locational, structural and other attributes that have an effect on room rates in Beirut region. Therefore, a sample of 89 hotels were considered in this study. Data were collected from TripAdvisor website during March 2019, considered as a low season in Lebanon. An OLS regression analysis was used to identify significant variables. Results has shown a strong positive significance of star rating category and accessible rooms, and a strong negative significance of centrally located, business and safe labels. Hotel managers are advised to use current findings and analysis to adjust their pricing strategies and communicated image.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126613465","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}
Pub Date : 2021-02-01DOI: 10.18178/IJTEF.2021.12.1.686
Asni Harianti, Maya Malinda, Miki Tjandra, Devas Kambuno
One of the supporting factors for the success of MSME is determined by the intelligence of managing finances or known as financial literacy. Financial literacy is a basic requirement that must be possessed by MSME entrepreneurs which is closely related to the knowledge of personal and business financial management, as well as knowledge to gain access to capital through financial services or institutions. This descriptive study aims to see a picture of the level of financial literacy in SMEs in Bandung. The type of data used in this study are primary data and secondary data Primary data obtained through surveys using a questionnaire to see the level of financial literacy (Financial Fitness Quis / FFQ) developed by O'Neil. The questionnaire consisting of 20 practical financial statements, covering 5 (five) dimensions of financial management, was distributed to 343 SMEs in the city of Bandung. Secondary data obtained through observation and study of literature relating to research problems. The results of the study show that MSMEs in the city of Bandung must take actions that need to be considered in the future to improve their finances to avoid financial difficulties. As a form of concern for MSMEs in the city of Bandung and as a form of support for the government, researchers are trying to alleviate the illiteracy of financial actors of MSMEs through appropriate financial management training and making of a simple financial application program SAKA (peSAK Abdi).
{"title":"Descriptive Analysis of Financial Literacy SMEs in Bandung","authors":"Asni Harianti, Maya Malinda, Miki Tjandra, Devas Kambuno","doi":"10.18178/IJTEF.2021.12.1.686","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.1.686","url":null,"abstract":"One of the supporting factors for the success of MSME is determined by the intelligence of managing finances or known as financial literacy. Financial literacy is a basic requirement that must be possessed by MSME entrepreneurs which is closely related to the knowledge of personal and business financial management, as well as knowledge to gain access to capital through financial services or institutions. This descriptive study aims to see a picture of the level of financial literacy in SMEs in Bandung. The type of data used in this study are primary data and secondary data Primary data obtained through surveys using a questionnaire to see the level of financial literacy (Financial Fitness Quis / FFQ) developed by O'Neil. The questionnaire consisting of 20 practical financial statements, covering 5 (five) dimensions of financial management, was distributed to 343 SMEs in the city of Bandung. Secondary data obtained through observation and study of literature relating to research problems. The results of the study show that MSMEs in the city of Bandung must take actions that need to be considered in the future to improve their finances to avoid financial difficulties. As a form of concern for MSMEs in the city of Bandung and as a form of support for the government, researchers are trying to alleviate the illiteracy of financial actors of MSMEs through appropriate financial management training and making of a simple financial application program SAKA (peSAK Abdi).","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116884442","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}
Pub Date : 2021-02-01DOI: 10.18178/IJTEF.2021.12.1.688
Maya Malinda, Asni Harianti, Miki Tjandra, Yolla Margaretha, Andre Sunjaya
This study has purpose to reveal financial literacy from micro small medium enterprise (MSME) entrepreneurs in Bandung, Indonesia. Divided by three locations, Bojongsoang, Sukajadi and other location in Bandung city. The purpose of this research is to convey MSME behavior of financial literate. Criteria of financial literate are person can understand and practice for financial management, saving/investing, insurance & estate planning, credit, shopping. The method for testing used in this paper build by O’Neill is through Financial Fitness Quiz (FFQ)The result from 276 participants Bojong Soang, Sukajadi and other locations In Bandung, have different results degree. The result for saving/investment, insurance and estate planning, credit, shopping dimension showed low score below 20 points. It has been proven that MSME entrepreneurs need personal financial planning training. This research has purpose for to increase financial literate and to improve positive financial behavior with education and apps program peSak Abdi
{"title":"Study of Financial Behaviors Micro Small Medium Enterprise in Bandung, Indonesia","authors":"Maya Malinda, Asni Harianti, Miki Tjandra, Yolla Margaretha, Andre Sunjaya","doi":"10.18178/IJTEF.2021.12.1.688","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.1.688","url":null,"abstract":"This study has purpose to reveal financial literacy from micro small medium enterprise (MSME) entrepreneurs in Bandung, Indonesia. Divided by three locations, Bojongsoang, Sukajadi and other location in Bandung city. The purpose of this research is to convey MSME behavior of financial literate. Criteria of financial literate are person can understand and practice for financial management, saving/investing, insurance & estate planning, credit, shopping. The method for testing used in this paper build by O’Neill is through Financial Fitness Quiz (FFQ)The result from 276 participants Bojong Soang, Sukajadi and other locations In Bandung, have different results degree. The result for saving/investment, insurance and estate planning, credit, shopping dimension showed low score below 20 points. It has been proven that MSME entrepreneurs need personal financial planning training. This research has purpose for to increase financial literate and to improve positive financial behavior with education and apps program peSak Abdi","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128897469","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}
Pub Date : 2021-02-01DOI: 10.18178/IJTEF.2021.12.1.687
Tonmoy Chowdhury
Before 1990, foreign investors could not extensively invest in Brazil because of its stringent and conservative trade policy. However, in 1990 Brazil took a remarkable shift in its trade policy from its previous trends by taking a liberal stance in terms of FDI inflow. The liberal trade policy that Brazil took in 1990 remove all the trade barriers that previously hindered the free flow of FDI in Brazil, the sign of which had been reflected in the steady and gradual incremental FDI inflow in the country after that. This New opening of trade atmosphere had brought with it two very different repercussions. In one hand, it accelerated the economic growth by bringing in investment in the needed sectors; on the other hand this acceleration spurred industrial activities that are accompanied by air and water pollution and deforestation as a byproduct. Since then, environmental health and ecosystem of Brazil have been facing tremendous threat owing to these pollution problems which may indirectly distress the EPI score of Brazil. Keeping these issues in mind, the present study investigates the relationship between FDI inflow and EPI score in Brazil. With the help of descriptive statistical tools as well as Pearson correlation test, this study finds the negative relationship between FDI inflow and EPI score in Brazil.
{"title":"Nexus between Foreign Direct Investment Inflow and EPI Score in Brazil","authors":"Tonmoy Chowdhury","doi":"10.18178/IJTEF.2021.12.1.687","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.1.687","url":null,"abstract":"Before 1990, foreign investors could not extensively invest in Brazil because of its stringent and conservative trade policy. However, in 1990 Brazil took a remarkable shift in its trade policy from its previous trends by taking a liberal stance in terms of FDI inflow. The liberal trade policy that Brazil took in 1990 remove all the trade barriers that previously hindered the free flow of FDI in Brazil, the sign of which had been reflected in the steady and gradual incremental FDI inflow in the country after that. This New opening of trade atmosphere had brought with it two very different repercussions. In one hand, it accelerated the economic growth by bringing in investment in the needed sectors; on the other hand this acceleration spurred industrial activities that are accompanied by air and water pollution and deforestation as a byproduct. Since then, environmental health and ecosystem of Brazil have been facing tremendous threat owing to these pollution problems which may indirectly distress the EPI score of Brazil. Keeping these issues in mind, the present study investigates the relationship between FDI inflow and EPI score in Brazil. With the help of descriptive statistical tools as well as Pearson correlation test, this study finds the negative relationship between FDI inflow and EPI score in Brazil.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"14 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132479205","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}
Pub Date : 2021-02-01DOI: 10.18178/IJTEF.2021.12.1.685
Francisco Pitthan
Momentum is one of the most robust anomalies in financial markets, there are two main recent explanations for this phenomenon, a behavioral-based explanation through disposition-effect (i.e., the willingness to sell “winners” too quickly and to hold “losers” for a long time) and a fund-flow based explanation. The disposition-effect explanation is centered in the convergence of the spread between the fundamental value and the observed market price (dispositioneffect causes an underreaction to news that generates this spread), and the fund flows-based explanation is due to the persistence of the performance of mutual-funds (which usually keep buying winning positions and selling the losses). This paper compares those theories using Brazilian data (which is suitable for the strong presence of momentum). The empirical analysis was done using Fama-MacBeth regressions with results pointing the disposition-effect explanation as the most significant, with the robustness analysis contributing positively to the main findings.
{"title":"Can Momentum Be Explained by Fund Flows or Disposition Effect? The Impact of Behavioral Biases and Capital Flows in Brazilian Market Movements","authors":"Francisco Pitthan","doi":"10.18178/IJTEF.2021.12.1.685","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.1.685","url":null,"abstract":"Momentum is one of the most robust anomalies in financial markets, there are two main recent explanations for this phenomenon, a behavioral-based explanation through disposition-effect (i.e., the willingness to sell “winners” too quickly and to hold “losers” for a long time) and a fund-flow based explanation. The disposition-effect explanation is centered in the convergence of the spread between the fundamental value and the observed market price (dispositioneffect causes an underreaction to news that generates this spread), and the fund flows-based explanation is due to the persistence of the performance of mutual-funds (which usually keep buying winning positions and selling the losses). This paper compares those theories using Brazilian data (which is suitable for the strong presence of momentum). The empirical analysis was done using Fama-MacBeth regressions with results pointing the disposition-effect explanation as the most significant, with the robustness analysis contributing positively to the main findings.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128972154","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}
Pub Date : 2021-02-01DOI: 10.18178/IJTEF.2021.12.1.689
Siriporn Chouyluam, P. Wannapiroon, P. Nilsook
This research is research and development aims to develop a creative design thinking learning (CDTL) model integrated immersive experiential marketing to enhance digital entrepreneurs’ competence. The research methodology are as follows: study CDTL process integrated immersive experiential marketing, study digital entrepreneurs, develop CDTL models, develop CDTL systems, and evaluate digital entrepreneurs' competence. The samples were 30 vocational diploma students of the business computer program of Intrachai Commercial College. The instrument was the digital entrepreneurs’ competence evaluation forms. Data were statistically analyzed with mean and standard deviation. The results indicated that (1) the CDTL process has 3 steps: preparation, implementation, and evaluation; (2) digital entrepreneur’s competence has 3 competence: digital entrepreneurship competence, digital competence, creative digital economy innovation; (3) the learning model efficiency score was at the highest level; (4) the students study through the learning model obtained digital entrepreneurship competence score at the highest level and creative digital economy innovation at a high level.
{"title":"Creative Design Thinking Learning Model Integrated Immersive Experiential Marketing to Enhance Digital Entrepreneurs","authors":"Siriporn Chouyluam, P. Wannapiroon, P. Nilsook","doi":"10.18178/IJTEF.2021.12.1.689","DOIUrl":"https://doi.org/10.18178/IJTEF.2021.12.1.689","url":null,"abstract":"This research is research and development aims to develop a creative design thinking learning (CDTL) model integrated immersive experiential marketing to enhance digital entrepreneurs’ competence. The research methodology are as follows: study CDTL process integrated immersive experiential marketing, study digital entrepreneurs, develop CDTL models, develop CDTL systems, and evaluate digital entrepreneurs' competence. The samples were 30 vocational diploma students of the business computer program of Intrachai Commercial College. The instrument was the digital entrepreneurs’ competence evaluation forms. Data were statistically analyzed with mean and standard deviation. The results indicated that (1) the CDTL process has 3 steps: preparation, implementation, and evaluation; (2) digital entrepreneur’s competence has 3 competence: digital entrepreneurship competence, digital competence, creative digital economy innovation; (3) the learning model efficiency score was at the highest level; (4) the students study through the learning model obtained digital entrepreneurship competence score at the highest level and creative digital economy innovation at a high level.","PeriodicalId":243294,"journal":{"name":"International journal trade, economics and finance","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124418200","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}
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