Pub Date : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.75
Masud Chand
Purpose: We analyze how countries are similar and different in terms of cultures and institutions and the extent to which they can be grouped into civilizations. This is based on Huntington’s (1993,1996) framework that states there are major cultural and institutional differences between civilizations. Design/methodology/approach: Cultural and institutional data were collected on all available countries. For culture, Hofstede index was used. For institutions, scores were used for the Index of Democracy, the Index of Economic Freedom, Freedom in the World Index, the Global Gender Gap Index, the Press Freedom Index, and the Corruption Perceptions Index. The countries were grouped along the lines of Huntington’s civilizations and their scores analyzed. Findings: The results reveal that differences across civilizations are significant and extend across cultures and institutions. Across the nine civilizations, there were significant differences in five of the six cultural dimensions as well as in all the institutions. Research limitations/implications: Cultural differences across civilizations could point to pervasive differences on issues such as values, motivation, and management norms. Institutional differences across civilizations could represent differences in values that societies attach to different aspects of their institutional environment. Future studies using longitudinal data could help build on our findings. Originality/value: The use of both cultural and institutional measures to cluster countries into civilizations is a major contribution of this study. The clash of civilizations framework is analyzed relative to other studies on country clusters contributing to the discussion on supranational cultural clusters. The study would be valuable to cross-cultural researchers, international business academics and practitioners.
{"title":"Is there a Clash of Civilizations? Cultures and Institutions across Civilizations","authors":"Masud Chand","doi":"10.17549/gbfr.2022.27.3.75","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.75","url":null,"abstract":"Purpose: We analyze how countries are similar and different in terms of cultures and institutions and the extent to which they can be grouped into civilizations. This is based on Huntington’s (1993,1996) framework that states there are major cultural and institutional differences between civilizations. \u0000Design/methodology/approach: Cultural and institutional data were collected on all available countries. For culture, Hofstede index was used. For institutions, scores were used for the Index of Democracy, the Index of Economic Freedom, Freedom in the World Index, the Global Gender Gap Index, the Press Freedom Index, and the Corruption Perceptions Index. The countries were grouped along the lines of Huntington’s civilizations and their scores analyzed. \u0000Findings: The results reveal that differences across civilizations are significant and extend across cultures and institutions. Across the nine civilizations, there were significant differences in five of the six cultural dimensions as well as in all the institutions. \u0000Research limitations/implications: Cultural differences across civilizations could point to pervasive differences on issues such as values, motivation, and management norms. Institutional differences across civilizations could represent differences in values that societies attach to different aspects of their institutional environment. Future studies using longitudinal data could help build on our findings. \u0000Originality/value: The use of both cultural and institutional measures to cluster countries into civilizations is a major contribution of this study. The clash of civilizations framework is analyzed relative to other studies on country clusters contributing to the discussion on supranational cultural clusters. The study would be valuable to cross-cultural researchers, international business academics and practitioners.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"14 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78347950","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 : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.28
Huynh Quoc Vu, P. T. Ngoc, Nguyen Le Hoang Thuy To Quyen
Purpose: The purpose of this study is to investigate the impact of formal institutions and their components on productivity spillovers from FDI enterprises to domestic firms’ TFP in developing countries like Vietnam. Design/methodology/approach: The study, conducted in two steps to explore the relationship, is to estimate the firm's TFP in accordance with the semi-parametric method of Levisohn and Petrin (2003). Regression is in accordance with the equation with panel data and adjusted by Driscoll and Kraay standard errors. An unbalanced panel data, related to more than 61,600 Vietnamese manufacturing firms from 2012 to 2017, is combined with the Provincial Institutional Quality Survey (PAPI index) and IO table. Findings: The local institutions have a positive impact on promoting learning ability and increasing productivity of domestic firms, especially small and medium enterprises (SMEs) that take better advantage of this effect. Vertical linkages with FDI enterprises assist local firms to increase productivity while horizontal linkages bring in negative effects. Domestic enterprises with high productivity (in the top 25%) receive positive spillover effects from horizontal linkages and vertical linkages and gain positive impacts of the institution on productivity whereas the group of low-productivity enterprises records negative impacts. This research highlights those enterprises operating in the region where institutions have transparency, accountability, participation in comments and effective corruption control can absorb spillovers and improve their productivity as well as the transparency and corruption control are recognized as having a positive impact through horizontal linkages. Research limitations/implications: With the limitation of research data being conducted only on manufacturing enterprises, there is a lack of data on the impact of service enterprises. The study only stops at understanding the impact of formal institutional effects on productivity spillovers whereas informal institutional effects will be studied in the future. Furthermore, the productivity spillovers of FDI enterprises are explored in general besides other FDI forms that will have different productivity spillovers like offshore. From the results of this study, the governments of developing countries should improve their institutions to encourage local enterprises to take the advantage of spillover effects from FDI enterprises as well as pay more attention to regional factors by supplementing development priority policies based on the capacity of each region. Institutional quality at provincial level has a positive impact on productivity spillovers; consequently, it is essential to have policies for further institutional improvement. Originality/value: This is the first research paper on the impact of the institutional factor at provincial level on firm’s productivity in developing countries like Vietnam. Theoretically, the impact of formal institutions on spi
{"title":"The Effect of Institutions on Productivity Spillovers from FDI to Domestic Firms: Evidence in Vietnam","authors":"Huynh Quoc Vu, P. T. Ngoc, Nguyen Le Hoang Thuy To Quyen","doi":"10.17549/gbfr.2022.27.3.28","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.28","url":null,"abstract":"Purpose: The purpose of this study is to investigate the impact of formal institutions and their components on productivity spillovers from FDI enterprises to domestic firms’ TFP in developing countries like Vietnam. \u0000Design/methodology/approach: The study, conducted in two steps to explore the relationship, is to estimate the firm's TFP in accordance with the semi-parametric method of Levisohn and Petrin (2003). Regression is in accordance with the equation with panel data and adjusted by Driscoll and Kraay standard errors. An unbalanced panel data, related to more than 61,600 Vietnamese manufacturing firms from 2012 to 2017, is combined with the Provincial Institutional Quality Survey (PAPI index) and IO table. \u0000Findings: The local institutions have a positive impact on promoting learning ability and increasing productivity of domestic firms, especially small and medium enterprises (SMEs) that take better advantage of this effect. Vertical linkages with FDI enterprises assist local firms to increase productivity while horizontal linkages bring in negative effects. Domestic enterprises with high productivity (in the top 25%) receive positive spillover effects from horizontal linkages and vertical linkages and gain positive impacts of the institution on productivity whereas the group of low-productivity enterprises records negative impacts. This research highlights those enterprises operating in the region where institutions have transparency, accountability, participation in comments and effective corruption control can absorb spillovers and improve their productivity as well as the transparency and corruption control are recognized as having a positive impact through horizontal linkages. \u0000Research limitations/implications: With the limitation of research data being conducted only on manufacturing enterprises, there is a lack of data on the impact of service enterprises. The study only stops at understanding the impact of formal institutional effects on productivity spillovers whereas informal institutional effects will be studied in the future. Furthermore, the productivity spillovers of FDI enterprises are explored in general besides other FDI forms that will have different productivity spillovers like offshore. From the results of this study, the governments of developing countries should improve their institutions to encourage local enterprises to take the advantage of spillover effects from FDI enterprises as well as pay more attention to regional factors by supplementing development priority policies based on the capacity of each region. Institutional quality at provincial level has a positive impact on productivity spillovers; consequently, it is essential to have policies for further institutional improvement. \u0000Originality/value: This is the first research paper on the impact of the institutional factor at provincial level on firm’s productivity in developing countries like Vietnam. Theoretically, the impact of formal institutions on spi","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84706652","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 : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.98
Charles Sitorus, I. G. So, Asnan Furinto, W. Kosasih
Purpose: The objective of this research was to empirically test several issues, including the effect of dynamic delivery system capability and adaptive product management on the sustainability innovation performance of Indonesian courier service companies. Furthermore, this study attempts to investigate the role of digital maturity level as a moderator that strengthens the relationship between the three variables. Design/methodology/approach: Researchers used survey research as part of a series of quantitative studies to describe the profile or characteristics of the population being studied. Furthermore, this research method can be classified as goal formulation, strategy mapping, strategy operations, action plans, application frameworks, and evaluation and control plans. Meanwhile, data was collected using an online survey research method involving 378 courier service companies spread across Java from 20 June to 5 August 2021. The data was analyzed using the Structural Equation Modeling (SEM) method. Findings: According to the findings of this study, dynamic delivery system capability and adaptive product management have a positive and significant impact on the long-term sustainability of innovation performance. Furthermore, as a moderator, the digital maturity level can strengthen the influence of dynamic delivery system capabilities, adaptive product management, and sustainability innovation performance. Research limitations/implications: This study has several limitations, including the digital model's business innovation factor. Furthermore, the context on the sustainability of innovation performance is only limited in this study. In addition, this study only uses Java as a research location. As a result, the researcher hopes that more research will be conducted in the future. Particularly with the larger digital model business innovation variables or factors and more diverse research locations. Originality/value: This is the first study on the courier service industry in Indonesia in terms of digital innovation and performance. Apart from courier services, this research concept is expected to be implemented in other service industries.
{"title":"Exploring the Influence of Digital Model Business Innovation Factors on the Courier Service Company's Sustainability Innovation Performance","authors":"Charles Sitorus, I. G. So, Asnan Furinto, W. Kosasih","doi":"10.17549/gbfr.2022.27.3.98","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.98","url":null,"abstract":"Purpose: The objective of this research was to empirically test several issues, including the effect of dynamic delivery system capability and adaptive product management on the sustainability innovation performance of Indonesian courier service companies. Furthermore, this study attempts to investigate the role of digital maturity level as a moderator that strengthens the relationship between the three variables. \u0000Design/methodology/approach: Researchers used survey research as part of a series of quantitative studies to describe the profile or characteristics of the population being studied. Furthermore, this research method can be classified as goal formulation, strategy mapping, strategy operations, action plans, application frameworks, and evaluation and control plans. Meanwhile, data was collected using an online survey research method involving 378 courier service companies spread across Java from 20 June to 5 August 2021. The data was analyzed using the Structural Equation Modeling (SEM) method. \u0000Findings: According to the findings of this study, dynamic delivery system capability and adaptive product management have a positive and significant impact on the long-term sustainability of innovation performance. Furthermore, as a moderator, the digital maturity level can strengthen the influence of dynamic delivery system capabilities, adaptive product management, and sustainability innovation performance. \u0000Research limitations/implications: This study has several limitations, including the digital model's business innovation factor. Furthermore, the context on the sustainability of innovation performance is only limited in this study. In addition, this study only uses Java as a research location. As a result, the researcher hopes that more research will be conducted in the future. Particularly with the larger digital model business innovation variables or factors and more diverse research locations. \u0000Originality/value: This is the first study on the courier service industry in Indonesia in terms of digital innovation and performance. Apart from courier services, this research concept is expected to be implemented in other service industries.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77514547","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 : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.56
Veronika Lee, Seungwook Park, DonHee Lee
Purpose: The purpose of this study is to analyze the impact of characteristics of the service quality of e-commerce platforms on customer satisfaction and purchase intention. Design/methodology/approach: The proposed research model and a set of hypotheses were developed and tested using structural equation modeling based on data collected from 172 e-commerce users in Uzbekistan. Findings: The findings of this study revealed that while the responsiveness of e-commerce platforms is non-essential, website design, reliability, perceived usefulness, and perceived ease of use are essential elements for customer satisfaction in e-commerce. The results indicated that website design, perceived usefulness, and customer satisfaction positively affect purchase intention for e-commerce platforms in Uzbekistan. Research limitations/implications: The study provided that COVID-19 significantly impacted the development and acceptance of e-commerce platforms in Uzbekistan. The results of this study suggested practical insights for improving customer satisfaction and service quality on e-commerce platforms in Uzbekistan. Originality/value: Uzbekistan is a developing country with great potential; however, until recently, little research has been conducted on the Uzbek e-commerce market. From this perspective, this study fills this gap by analyzing the relationship among service quality, technology acceptance factors, customer satisfaction, and purchase intention by applying the initial TAM model. Therefore, it is essential to determine the key factors for improving e-commerce service quality.
{"title":"The Effect of E-commerce Service Quality Factors on Customer Satisfaction, Purchase Intention, and Actual Purchase in Uzbekistan","authors":"Veronika Lee, Seungwook Park, DonHee Lee","doi":"10.17549/gbfr.2022.27.3.56","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.56","url":null,"abstract":"Purpose: The purpose of this study is to analyze the impact of characteristics of the service quality of e-commerce platforms on customer satisfaction and purchase intention. \u0000Design/methodology/approach: The proposed research model and a set of hypotheses were developed and tested using structural equation modeling based on data collected from 172 e-commerce users in Uzbekistan. \u0000Findings: The findings of this study revealed that while the responsiveness of e-commerce platforms is non-essential, website design, reliability, perceived usefulness, and perceived ease of use are essential elements for customer satisfaction in e-commerce. The results indicated that website design, perceived usefulness, and customer satisfaction positively affect purchase intention for e-commerce platforms in Uzbekistan. \u0000Research limitations/implications: The study provided that COVID-19 significantly impacted the development and acceptance of e-commerce platforms in Uzbekistan. The results of this study suggested practical insights for improving customer satisfaction and service quality on e-commerce platforms in Uzbekistan. \u0000Originality/value: Uzbekistan is a developing country with great potential; however, until recently, little research has been conducted on the Uzbek e-commerce market. From this perspective, this study fills this gap by analyzing the relationship among service quality, technology acceptance factors, customer satisfaction, and purchase intention by applying the initial TAM model. Therefore, it is essential to determine the key factors for improving e-commerce service quality.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"79 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76136904","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 : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.41
F. Alamsjah
Purpose: The primary goal of this study is to evaluate the importance of developing organizational agility and alliance capability to survive during turbulence times such COVID-19 pandemic. Design/methodology/approach: The study's data was gathered through a survey of 103 top management teams from 55 publicly listed companies in Indonesia, and the responses were analyzed to determine the relationships between leadership, agile organization, alliance management, and firm performance. Findings: This study found that ambidextrous leadership at publicly listed companies has no direct impact on firm performance during times of turbulence. Agility and alliance management capability, on the other hand, fully mediate the relationship between ambidextrous leadership and firm performance. Research limitations/implications: Leaders, particularly those in public listed companies, must continuously improve their organizational agility and alliance management capability to remain competitive and adaptive to face environmental changes. For utilizing organizational agility and alliance management capability as a firm strategy during times of turbulences, ambidextrous leaders are expected to balance exploiting and exploring practices. Originality/value: This study compares the perceptions of top management team during and normal time and during the COVID-19 pandemic specifically on leadership, agility, and alliance management capability in a stock market environment.
{"title":"Ambidextrous Leadership of Publicly Listed Companies during Turbulent Times: The Importance of Agility and Alliance Capability","authors":"F. Alamsjah","doi":"10.17549/gbfr.2022.27.3.41","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.41","url":null,"abstract":"Purpose: The primary goal of this study is to evaluate the importance of developing organizational agility and alliance capability to survive during turbulence times such COVID-19 pandemic. \u0000Design/methodology/approach: The study's data was gathered through a survey of 103 top management teams from 55 publicly listed companies in Indonesia, and the responses were analyzed to determine the relationships between leadership, agile organization, alliance management, and firm performance. \u0000Findings: This study found that ambidextrous leadership at publicly listed companies has no direct impact on firm performance during times of turbulence. Agility and alliance management capability, on the other hand, fully mediate the relationship between ambidextrous leadership and firm performance. \u0000Research limitations/implications: Leaders, particularly those in public listed companies, must continuously improve their organizational agility and alliance management capability to remain competitive and adaptive to face environmental changes. For utilizing organizational agility and alliance management capability as a firm strategy during times of turbulences, ambidextrous leaders are expected to balance exploiting and exploring practices. \u0000Originality/value: This study compares the perceptions of top management team during and normal time and during the COVID-19 pandemic specifically on leadership, agility, and alliance management capability in a stock market environment.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"157 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73449363","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 : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.1
Suwinto Johan, Amad Sudiro, A. Gunadi
Purpose: This research seeks to examine the cross-default and cross-collateral clauses in loan agreement that meet the principles of justice and the principle of balance, especially in developing countries such as Indonesia. Design/methodology/approach: A legal normative review method is used in this study. The cross-default clause and cross-collateral clauses are discussed in relation to existing legal practices in this paper, and a new framework is proposed. The topic in the research centers on the principles of justice and equality for creditors and borrowers. Findings: It concludes that the cross-default and cross-collateral clauses do not fulfill the principles of justice and balance. Cross-default clause shows injustice when associated with subsidiaries’ performance. Cross-collateral clause does not fulfill the principle of equality because it has a higher collateral execution position than other non-bank creditors or non-cash management services bank. This study suggests that debtors reconsider the provision of cross-default and cross-collateral clauses. Cross-default can be limited to a minimum default value. Cross-collateral must be abolished to deliver justice to all creditors. Research limitations/implications: The pre-lamination of this research is that it does not address the issue of negotiations between creditors and debtors. Finally, existing creditors are unlikely to change the rights they have already obtained. Further research can be developed by researching the types of businesses that provide a fixed asset guarantee value. Originality/value: This study provides a novelty by rethinking principle of fairness and equality in cross-collateral and cross-default clauses in loan agreement, under insolvency.
{"title":"Do Cross-Default and Cross-Collateral Clause Fulfill the Principles of Justice and Equality in Loan Agreement? (The Case of Indonesia)","authors":"Suwinto Johan, Amad Sudiro, A. Gunadi","doi":"10.17549/gbfr.2022.27.3.1","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.1","url":null,"abstract":"Purpose: This research seeks to examine the cross-default and cross-collateral clauses in loan agreement that meet the principles of justice and the principle of balance, especially in developing countries such as Indonesia. \u0000Design/methodology/approach: A legal normative review method is used in this study. The cross-default clause and cross-collateral clauses are discussed in relation to existing legal practices in this paper, and a new framework is proposed. The topic in the research centers on the principles of justice and equality for creditors and borrowers. \u0000Findings: It concludes that the cross-default and cross-collateral clauses do not fulfill the principles of justice and balance. Cross-default clause shows injustice when associated with subsidiaries’ performance. Cross-collateral clause does not fulfill the principle of equality because it has a higher collateral execution position than other non-bank creditors or non-cash management services bank. This study suggests that debtors reconsider the provision of cross-default and cross-collateral clauses. Cross-default can be limited to a minimum default value. Cross-collateral must be abolished to deliver justice to all creditors. \u0000Research limitations/implications: The pre-lamination of this research is that it does not address the issue of negotiations between creditors and debtors. Finally, existing creditors are unlikely to change the rights they have already obtained. Further research can be developed by researching the types of businesses that provide a fixed asset guarantee value. \u0000Originality/value: This study provides a novelty by rethinking principle of fairness and equality in cross-collateral and cross-default clauses in loan agreement, under insolvency.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"83 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82294555","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 : 2022-06-30DOI: 10.17549/gbfr.2022.27.3.14
T. Mokkhamakkul, Chatpong Tangmanee
Purpose: The purpose of this study is to examine whether the six independent factors (i.e., the item retail price, the number of bidders, the bidding duration, the shipping cost, the bidder option and the fee return option) could significantly explain the revenue of the auctioneers in one pay-to-bid (PTB) website. Design/methodology/approach: The data were collected using a python script that crawled into one PTB website in Thailand. They were gathered in two steps. First, the script collected the bidding-level data. Among them were the transaction number, the time at which the bid was placed, the bidding price, and the other identifications that allowed us to keep track of all bidding transactions. These details further helped to create the auction-level data on which the main analyses were performed. Findings: Based on the regression analytic results, all independent variables except the shipping cost significantly explained the PTB auctioneers’ revenue. The other statistics confirmed the quality of the findings. The retail price of the bid item and the bidding duration have the most significant explanatory effects on the revenue for their highest Beta values. Research limitations/implications: The findings offer practical implications, one of which is based on the significance of the bidder and the fee return options. PTB auctioneers should offer non-winning bidders the compensation for the sunk cost of the paid bidding fees. One limitation in this study is that the retail value of the bid item is overpriced. Fellow researchers may therefore calibrate it with the similar information from other credible sources before performing the analysis. Originality/value: The study’s unique contribution is the empirical validation in which the bidder and the fee return options are significant factors in explaining the PTB owner’s revenue. This is in addition to the success in extending theoretical insights into research inspecting factors affecting the revenue in the Thai context.
{"title":"actors affecting the Revenue of Auctioneers in One Thai Pay-to-vid Website","authors":"T. Mokkhamakkul, Chatpong Tangmanee","doi":"10.17549/gbfr.2022.27.3.14","DOIUrl":"https://doi.org/10.17549/gbfr.2022.27.3.14","url":null,"abstract":"Purpose: The purpose of this study is to examine whether the six independent factors (i.e., the item retail price, the number of bidders, the bidding duration, the shipping cost, the bidder option and the fee return option) could significantly explain the revenue of the auctioneers in one pay-to-bid (PTB) website. \u0000Design/methodology/approach: The data were collected using a python script that crawled into one PTB website in Thailand. They were gathered in two steps. First, the script collected the bidding-level data. Among them were the transaction number, the time at which the bid was placed, the bidding price, and the other identifications that allowed us to keep track of all bidding transactions. These details further helped to create the auction-level data on which the main analyses were performed. \u0000Findings: Based on the regression analytic results, all independent variables except the shipping cost significantly explained the PTB auctioneers’ revenue. The other statistics confirmed the quality of the findings. The retail price of the bid item and the bidding duration have the most significant explanatory effects on the revenue for their highest Beta values. \u0000Research limitations/implications: The findings offer practical implications, one of which is based on the significance of the bidder and the fee return options. PTB auctioneers should offer non-winning bidders the compensation for the sunk cost of the paid bidding fees. One limitation in this study is that the retail value of the bid item is overpriced. Fellow researchers may therefore calibrate it with the similar information from other credible sources before performing the analysis. \u0000Originality/value: The study’s unique contribution is the empirical validation in which the bidder and the fee return options are significant factors in explaining the PTB owner’s revenue. This is in addition to the success in extending theoretical insights into research inspecting factors affecting the revenue in the Thai context.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"58 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79769842","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}
Aiming at the trading problem of gold and bitcoin in the financial market, this paper establishes a trading strategy based on KDJ and MACD indicators, and establishes an effective frontier curve model based on the change of mean variance to determine the investment ratio, and uses Lagrange multiplier method to maximize the trader's return rate.
{"title":"Dynamic Investment Strategy Based on Nonlinear Programming","authors":"Haomiao Niu, Hanshuo Song, Huiyan Cui","doi":"10.18282/gfr.v4i1.2766","DOIUrl":"https://doi.org/10.18282/gfr.v4i1.2766","url":null,"abstract":"<p><span style=\"font-family: 'Times New Roman';\">Aiming at the trading problem of gold and bitcoin in the financial market, this paper establishes a trading strategy based on KDJ and MACD indicators, and establishes an effective frontier curve model based on the change of mean variance to determine the investment ratio, and uses Lagrange multiplier method to maximize the trader's return rate.</span></p>","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91213298","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}
Securities companies have their own unique advantages in carrying out stock pledge financing business, and are also in a leading position in stock pledge financing business. However, it should also be noted that with the expansion of the stock pledge financing business, stock pledge risks are also gathering. In this case, it is very necessary to study the stock pledge risk of securities companies. This paper first analyzes the risks existing in the stock pledge financing business of securities companies, and then puts forward measures to strengthen stock pledge risk management in securities companies.
{"title":"Research on Stock Pledge Risk Control in Securities Companies","authors":"Zhongzhen Zhao","doi":"10.18282/gfr.v4i1.2911","DOIUrl":"https://doi.org/10.18282/gfr.v4i1.2911","url":null,"abstract":"Securities companies have their own unique advantages in carrying out stock pledge financing business, and are also in a leading position in stock pledge financing business. However, it should also be noted that with the expansion of the stock pledge financing business, stock pledge risks are also gathering. In this case, it is very necessary to study the stock pledge risk of securities companies. This paper first analyzes the risks existing in the stock pledge financing business of securities companies, and then puts forward measures to strengthen stock pledge risk management in securities companies.","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82443429","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}
In the context of the rapid development of information technology, many domestic traditional enterprises have embarked on the road of transformation, upgrading and development to enhance their comprehensive competitiveness on the basis of excellent local culture. There are many world-renowned brands and companies in Britain, and on the basis of its cultural background, Britain is regarded as the object of this contrastive research. How to realize the development goal of enterprise digital transformation with the help of traditional culture has become one of the problems that enterprises need to solve. This article analyzes the comparison of the digital transformation of traditional enterprises in China and Britain, in order to provide a reference for the steady development of traditional enterprises in the new era.
{"title":"A Contrastive Research on the Digital Transformation of Sino-British Traditional Enterprises","authors":"Peiyun Chai","doi":"10.18282/gfr.v4i1.3041","DOIUrl":"https://doi.org/10.18282/gfr.v4i1.3041","url":null,"abstract":"<p>In the context of the rapid development of information technology, many domestic traditional enterprises have embarked on the road of transformation, upgrading and development to enhance their comprehensive competitiveness on the basis of excellent local culture. <span style=\"font-family: 'Times New Roman';\">There are </span>many world-renowned brands and companies <span style=\"font-family: 'Times New Roman';\">in Britain</span>, and on <span style=\"font-family: 'Times New Roman';\">the basis of</span> its <span style=\"font-family: 'Times New Roman';\">cultural </span>background, <span style=\"font-family: 'Times New Roman';\">Britain</span> is regarded as the object of this <span style=\"font-family: 'Times New Roman';\">contrastive research</span>. How to realize the development goal of enterprise digital transformation with the help of traditional culture has become one of the problems that enterprises need to solve. This article analyzes the comparison of the digital transformation of traditional enterprises in China and <span style=\"font-family: 'Times New Roman';\">Britain</span>, in order to provide a reference for the steady development of traditional enterprises in the new era.</p>","PeriodicalId":35226,"journal":{"name":"Global Business and Finance Review","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80275267","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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