This paper investigates the implications of vertical integration with private labels in the marketplace model opposed to the classic wholesale model. Differently from classic retailers, on a marketplace firms set end-consumer prices and the intermediary collects fees. When introducing a lower-quality version of a product, a marketplace owner does not have an incentive to increase the cost of the outside seller and foreclose him. In order to protect revenues from the seller channel, a marketplace owner overprices his product, compared to a retailer or stand-alone monopolist, and decreases the fee. I demonstrate that offering a lower quality is indeed optimal for both marketplace owner and classic retailer, with the former differentiating more from the seller's offering. This harms the seller less, but improves the consumer surplus less compared to a retailer.
{"title":"Private Labels in Marketplaces","authors":"R. Shopova","doi":"10.2139/ssrn.3949396","DOIUrl":"https://doi.org/10.2139/ssrn.3949396","url":null,"abstract":"This paper investigates the implications of vertical integration with private labels in the marketplace model opposed to the classic wholesale model. Differently from classic retailers, on a marketplace firms set end-consumer prices and the intermediary collects fees. When introducing a lower-quality version of a product, a marketplace owner does not have an incentive to increase the cost of the outside seller and foreclose him. In order to protect revenues from the seller channel, a marketplace owner overprices his product, compared to a retailer or stand-alone monopolist, and decreases the fee. I demonstrate that offering a lower quality is indeed optimal for both marketplace owner and classic retailer, with the former differentiating more from the seller's offering. This harms the seller less, but improves the consumer surplus less compared to a retailer.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42149505","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}
Yongchen Cui, Xiaofeng Wang, Yang Xu, Yue Cao, Gang Luo, Aizhong Wang, Zhe Zhao, Junfeng Zhang
Peripheral nerve injury induces the forward transport of Nav1.8 driven by KIF5b, however, little is known regarding the role of Nav1.8 transport in peripheral nerve regeneration. Here, we reported the beneficial effects of inhibition of Nav1.8 transport on functional recovery and nerve regeneration following experimental sciatic nerve transection (SNT), and characterized the impact of dynamic changes of M1/M2 macrophage polarization phenotypes in this regeneration process. Sequential behavioral data demonstrated a significant improvement of sensory and motor functions over time in rats with inhibition of Nav1.8 transport. Moreover, electrophysiological and histological analysis collectively indicated that inhibition of Nav1.8 transport promoted axonal regrowth after SNT without affecting remyelination of axons. We also discovered that inhibition of Nav1.8 transport facilitates the early recruitment of pro-phagocytic M1 macrophages and subsequently accelerate phenotypic switching from M1 to reparative M2 phenotype, which might be related to the increased secretion of CCL2 and SP acting on macrophage receptor CCR2 and NK-1R respectively. In contrast, enhancing Nav1.8 forward transport by overexpressing KIF5b in DRG neurons substantially impaired the release of CCL2 and SP, the M1/M2 macrophage phenotype switch, and axonal regenerative capacity. Notably, we also found that continuous nerve block with ropivacaine, a non-selective sodium channels blocker, can promote functional recovery and nerve regeneration by inhibiting Nav1.8 transport after SNT. Together, our studies revealed a constructive role of Nav1.8 transport in axonal regrowth after SNT and supported a potential clinical application of continuous blocking with ropivacaine in in peripheral nerve repair.
{"title":"Inhibition of Nav1.8 Transport Promotes Axon Regeneration Via Regulating Dynamic Changes in Macrophage Phenotype after Sciatic Nerve Injury","authors":"Yongchen Cui, Xiaofeng Wang, Yang Xu, Yue Cao, Gang Luo, Aizhong Wang, Zhe Zhao, Junfeng Zhang","doi":"10.2139/SSRN.3945933","DOIUrl":"https://doi.org/10.2139/SSRN.3945933","url":null,"abstract":"Peripheral nerve injury induces the forward transport of Nav1.8 driven by KIF5b, however, little is known regarding the role of Nav1.8 transport in peripheral nerve regeneration. Here, we reported the beneficial effects of inhibition of Nav1.8 transport on functional recovery and nerve regeneration following experimental sciatic nerve transection (SNT), and characterized the impact of dynamic changes of M1/M2 macrophage polarization phenotypes in this regeneration process. Sequential behavioral data demonstrated a significant improvement of sensory and motor functions over time in rats with inhibition of Nav1.8 transport. Moreover, electrophysiological and histological analysis collectively indicated that inhibition of Nav1.8 transport promoted axonal regrowth after SNT without affecting remyelination of axons. We also discovered that inhibition of Nav1.8 transport facilitates the early recruitment of pro-phagocytic M1 macrophages and subsequently accelerate phenotypic switching from M1 to reparative M2 phenotype, which might be related to the increased secretion of CCL2 and SP acting on macrophage receptor CCR2 and NK-1R respectively. In contrast, enhancing Nav1.8 forward transport by overexpressing KIF5b in DRG neurons substantially impaired the release of CCL2 and SP, the M1/M2 macrophage phenotype switch, and axonal regenerative capacity. Notably, we also found that continuous nerve block with ropivacaine, a non-selective sodium channels blocker, can promote functional recovery and nerve regeneration by inhibiting Nav1.8 transport after SNT. Together, our studies revealed a constructive role of Nav1.8 transport in axonal regrowth after SNT and supported a potential clinical application of continuous blocking with ropivacaine in in peripheral nerve repair.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45095833","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}
E. Daly, Keunbae Kim, G. Hernandez‐Ramirez, T. Flesch
Perennial grain crops represent a novel hybrid between annually harvested grain crops and perennial forage crops, which are seeded once and grow for multiple subsequent seasons. Previous research has shown comparatively reduced nitrous oxide (N2O) emissions from perennial forage crops relative to annual grain crops, however, the effect of perennial grain cropping on N2O emissions is unclear. We quantified field N2O emissions along an experimental continuum of perenniality (perennial forage, perennial grain, fall grain, spring grain and fallow) established at two sites within Alberta, Canada with contrasting soils: Luvisolic at the Breton site and Chernozemic at the Edmonton site. We used static chambers and a micrometeorological technique based on an open-path Fourier-transform infrared gas sensor (OP-FTIR). Perennial grain crops reduced cumulative N2O emissions at the Breton site by 60% and 94% in years two and three of the study, respectively (Ps < 0.0001). Conversely, no reduction in N2O emissions by the perennial grain crop relative to the annual crop was evident at the Edmonton site. Correlation analyses encompassing both sites revealed that the average root density from 0-60 cm was negatively correlated with soil available nitrogen (N) (0-15 cm depth) in years one (Ps < 0.01) and two (Ps < 0.05). Moreover, in year two, root density was negatively correlated with cumulative N2O emissions, specifically at the Breton site (P < 0.01). Results suggest that the enhanced root density of perennial crops reduced soil N availability at the Breton site, which translated into reduced cumulative N2O emissions in year two. Notably, increased root density did not correlate with reduced N2O emissions at the Edmonton site, suggesting that factors such as increased soil clay and carbon content in the Chernozemic soil overrode crop controls on N2O emission. Further, OP-FTIR measurements at the Breton site were in general agreement with static chamber measurements, which collectively informed that the bulk reduction in cumulative N2O emissions occurred during spring thaw. Overall, the ability for perennial cereal grain crops to reduce N2O emissions relative to annual crops was site-specific.
{"title":"Perennial Grain Crops Reduce N 2 O Emissions Under Specific Site Conditions","authors":"E. Daly, Keunbae Kim, G. Hernandez‐Ramirez, T. Flesch","doi":"10.2139/SSRN.3945381","DOIUrl":"https://doi.org/10.2139/SSRN.3945381","url":null,"abstract":"Perennial grain crops represent a novel hybrid between annually harvested grain crops and perennial forage crops, which are seeded once and grow for multiple subsequent seasons. Previous research has shown comparatively reduced nitrous oxide (N2O) emissions from perennial forage crops relative to annual grain crops, however, the effect of perennial grain cropping on N2O emissions is unclear. We quantified field N2O emissions along an experimental continuum of perenniality (perennial forage, perennial grain, fall grain, spring grain and fallow) established at two sites within Alberta, Canada with contrasting soils: Luvisolic at the Breton site and Chernozemic at the Edmonton site. We used static chambers and a micrometeorological technique based on an open-path Fourier-transform infrared gas sensor (OP-FTIR). Perennial grain crops reduced cumulative N2O emissions at the Breton site by 60% and 94% in years two and three of the study, respectively (Ps < 0.0001). Conversely, no reduction in N2O emissions by the perennial grain crop relative to the annual crop was evident at the Edmonton site. Correlation analyses encompassing both sites revealed that the average root density from 0-60 cm was negatively correlated with soil available nitrogen (N) (0-15 cm depth) in years one (Ps < 0.01) and two (Ps < 0.05). Moreover, in year two, root density was negatively correlated with cumulative N2O emissions, specifically at the Breton site (P < 0.01). Results suggest that the enhanced root density of perennial crops reduced soil N availability at the Breton site, which translated into reduced cumulative N2O emissions in year two. Notably, increased root density did not correlate with reduced N2O emissions at the Edmonton site, suggesting that factors such as increased soil clay and carbon content in the Chernozemic soil overrode crop controls on N2O emission. Further, OP-FTIR measurements at the Breton site were in general agreement with static chamber measurements, which collectively informed that the bulk reduction in cumulative N2O emissions occurred during spring thaw. Overall, the ability for perennial cereal grain crops to reduce N2O emissions relative to annual crops was site-specific.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46723357","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}
This study shows that borrowers who benefit from the mortgage interest deduction pay an interest rate that is on average 11.6 basis points higher than that of otherwise similar borrowers. This result implies that mortgage originators capture between 7 to 15 percent of this government subsidy. Consistent with a model of first-degree price discrimination, this additional markup increases with borrowers’ marginal tax rate and with market frictions such as concentration, search cost, and leverage in bargaining. Thus, the study suggests that interest deductibility functions as price support in credit markets characterized by high market frictions.
{"title":"Interest Deductibility, Market Frictions, and Price Discrimination.","authors":"Maxence Valentin","doi":"10.2139/ssrn.3763880","DOIUrl":"https://doi.org/10.2139/ssrn.3763880","url":null,"abstract":"This study shows that borrowers who benefit from the mortgage interest deduction pay an interest rate that is on average 11.6 basis points higher than that of otherwise similar borrowers. This result implies that mortgage originators capture between 7 to 15 percent of this government subsidy. Consistent with a model of first-degree price discrimination, this additional markup increases with borrowers’ marginal tax rate and with market frictions such as concentration, search cost, and leverage in bargaining. Thus, the study suggests that interest deductibility functions as price support in credit markets characterized by high market frictions.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68639589","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}
Davis, Haltiwanger, Handley, Lerner, Lipsius, and Miranda (2021) continue to produce ex- tensions to the Davis, Haltiwanger, Handley, Jarmin, Lerner, and Miranda (2014) collection without addressing the critical research design issues raised in Ayash and Rastad (2017), Ayash and Rastad (2018) and Ayash and Rastad (2019b). Every error in Davis et al. (2014) and Davis, Haltiwanger, Handley, Lerner, Lipsius, and Miranda (2019) is carried over into their manuscript with a new title. First and foremost, the authors misrepresent their sample as specific to lever- aged buyouts; it is not. We clearly illustrates this fact. Policy makers do not have an issue with venture capital and growth equity buyouts giving piles of cash to firms they acquire because of the subsequent investment in R&D, innovation, jobs and physical capital. However, policy makers cannot learn about the subject of interest, controversial leveraged buyouts, when these make up such a small portion of the sample tested in Davis et al. collection (Davis, Haltiwanger, Jarmin, Lerner, and Miranda, 2008 and Davis, Haltiwanger, Jarmin, Lerner, and Miranda, 2011 focus on employment, Davis, Haltiwanger, Jarmin, Lerner, and Miranda, 2009 presented at the World Economic Forum introduces productivity to the analysis, Davis, Haltiwanger, Handley, Jarmin, Lerner, and Miranda, 2013 brings it all together, and the final published version is Davis et al., 2014. Davis et al. (2019) is basically identical to Davis et al. (2021)). Unfortunately, these authors continue to obfuscate our understanding of the (heterogeneous) economic effects of these complex transactions due to the fact that they cannot observe leverage; they treat all buyouts as equivalent to leveraged buyouts. We therefore gladly reiterate our analysis to bring light to these researchers who have been in the dark for more than a decade.
Davis、Haltiwanger、Handley、Lerner、Lipsius和Miranda（2021）继续对Davis、Haltiwanger，Handley、Jarmin、Lerne和Miranda（2014）系列产生影响，但没有解决Ayash和Rastad（2017）、Ayash与Rastad和Ayash and Rastad中提出的关键研究设计问题。Davis等人（2014）和Davis、Haltiwanger、Handley、Lerner、Lipsius和Miranda（2019）中的每一个错误都会以新的标题转移到他们的手稿中。首先也是最重要的，作者将他们的样本误传为杠杆收购的特定样本；事实并非如此。我们清楚地说明了这一事实。政策制定者对风险投资和成长股权收购向他们收购的公司提供大量现金没有异议，因为它们随后投资于研发、创新、就业和实物资本。然而，政策制定者无法了解利益、有争议的杠杆收购、，当这些物质在Davis等人收集的测试样本中只占这么小的一部分时（Davis，Haltiwanger，Jarmin，Lerner和Miranda，2008和Davis，Haltiwangerl.，2014年。Davis等人（2019）与Davis等人基本相同。（2021））。不幸的是，这些作者继续混淆我们对这些复杂交易的（异质）经济影响的理解，因为他们无法观察杠杆作用；他们将所有收购视为杠杆收购。因此，我们很高兴地重申我们的分析，为这些蒙在鼓里十多年的研究人员带来光明。
{"title":"The (Heterogenous) Economic Effects of Private Equity Buyouts: A Comment","authors":"B. Ayash, M. Rastad","doi":"10.2139/ssrn.3944209","DOIUrl":"https://doi.org/10.2139/ssrn.3944209","url":null,"abstract":"Davis, Haltiwanger, Handley, Lerner, Lipsius, and Miranda (2021) continue to produce ex- tensions to the Davis, Haltiwanger, Handley, Jarmin, Lerner, and Miranda (2014) collection without addressing the critical research design issues raised in Ayash and Rastad (2017), Ayash and Rastad (2018) and Ayash and Rastad (2019b). Every error in Davis et al. (2014) and Davis, Haltiwanger, Handley, Lerner, Lipsius, and Miranda (2019) is carried over into their manuscript with a new title. First and foremost, the authors misrepresent their sample as specific to lever- aged buyouts; it is not. We clearly illustrates this fact. Policy makers do not have an issue with venture capital and growth equity buyouts giving piles of cash to firms they acquire because of the subsequent investment in R&D, innovation, jobs and physical capital. However, policy makers cannot learn about the subject of interest, controversial leveraged buyouts, when these make up such a small portion of the sample tested in Davis et al. collection (Davis, Haltiwanger, Jarmin, Lerner, and Miranda, 2008 and Davis, Haltiwanger, Jarmin, Lerner, and Miranda, 2011 focus on employment, Davis, Haltiwanger, Jarmin, Lerner, and Miranda, 2009 presented at the World Economic Forum introduces productivity to the analysis, Davis, Haltiwanger, Handley, Jarmin, Lerner, and Miranda, 2013 brings it all together, and the final published version is Davis et al., 2014. Davis et al. (2019) is basically identical to Davis et al. (2021)). Unfortunately, these authors continue to obfuscate our understanding of the (heterogeneous) economic effects of these complex transactions due to the fact that they cannot observe leverage; they treat all buyouts as equivalent to leveraged buyouts. We therefore gladly reiterate our analysis to bring light to these researchers who have been in the dark for more than a decade.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47210451","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}
Daniel Greene, Vincent J. Intintoli, Kathleen M. Kahle
We examine the depth of the labor market for female directors following an exogenous shock to demand caused by California Senate Bill 826. Despite a surge in female appointments, new female director qualifications remain stable when benchmarked to control groups, indicating a deep labor market. Relative to the same control groups, we likewise find little evidence that investors view female director appointments more negatively following the law. However, stock returns to new female director appointments do not offset negative returns to the 2018 enactment of the law, suggesting that overall, investors still anticipate negative effects.
{"title":"How Deep is the Labor Market for Female Directors? Evidence from Mandated Director Appointments","authors":"Daniel Greene, Vincent J. Intintoli, Kathleen M. Kahle","doi":"10.2139/ssrn.3943718","DOIUrl":"https://doi.org/10.2139/ssrn.3943718","url":null,"abstract":"We examine the depth of the labor market for female directors following an exogenous shock to demand caused by California Senate Bill 826. Despite a surge in female appointments, new female director qualifications remain stable when benchmarked to control groups, indicating a deep labor market. Relative to the same control groups, we likewise find little evidence that investors view female director appointments more negatively following the law. However, stock returns to new female director appointments do not offset negative returns to the 2018 enactment of the law, suggesting that overall, investors still anticipate negative effects.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46078981","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}
The trial is an epistemic event. Yet, the manner in which the probative value of legal evidence is calculated remains largely unarticulated. Thus, in the face of an urgent requirement to advance a normative model of evidential reasoning which serves the needs of decision-makers, practitioners, and experts, this article assesses the utility of three dominant approaches, founded upon the exposition of inferences, scenarios, and probabilities. These find expression in Wigmorean, Narrative, and Bayesian network models, and a number of hybrid approaches. Through an analysis and critique of the foregoing models, the article attempts to discern the optimal normative model of evidential reasoning to be applied in international criminal trials, consonant with Twining’s formulation of rational adjudication, and assessed in accordance with a set of rational evaluation criteria drawn from New Evidence scholarship and its historical forbears.
{"title":"Towards a Normative Assessment of Probative Value in International Criminal Adjudication","authors":"K. Richmond","doi":"10.2139/ssrn.3943190","DOIUrl":"https://doi.org/10.2139/ssrn.3943190","url":null,"abstract":"\u0000The trial is an epistemic event. Yet, the manner in which the probative value of legal evidence is calculated remains largely unarticulated. Thus, in the face of an urgent requirement to advance a normative model of evidential reasoning which serves the needs of decision-makers, practitioners, and experts, this article assesses the utility of three dominant approaches, founded upon the exposition of inferences, scenarios, and probabilities. These find expression in Wigmorean, Narrative, and Bayesian network models, and a number of hybrid approaches. Through an analysis and critique of the foregoing models, the article attempts to discern the optimal normative model of evidential reasoning to be applied in international criminal trials, consonant with Twining’s formulation of rational adjudication, and assessed in accordance with a set of rational evaluation criteria drawn from New Evidence scholarship and its historical forbears.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47970562","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 this paper we examine national equity mutual funds in the main European countries using daily and monthly returns to determine if the temporary frequency of the observations produces changes in the detection of timing skills by fund managers that justifies the current trend in the finance literature of using daily observations instead of monthly. Using daily data in our analysis we appreciate a greater significance in the results obtained, approximately 10% of funds show significantly positive market timing skills and the same proportion of funds show negative market timing across countries. In the present study we show the usefulness of the increase in the temporal frequency of the observations as the use of daily data instead of monthly returns in the analysis implies a greater significance in the results obtained. Thus, we consider more advantageous the use of daily frequencies for market timing evaluation of mutual funds.
{"title":"European Market Timing","authors":"Marta Vidal, Javier Vidal-García","doi":"10.2139/ssrn.3943010","DOIUrl":"https://doi.org/10.2139/ssrn.3943010","url":null,"abstract":"In this paper we examine national equity mutual funds in the main European countries using daily and monthly returns to determine if the temporary frequency of the observations produces changes in the detection of timing skills by fund managers that justifies the current trend in the finance literature of using daily observations instead of monthly. Using daily data in our analysis we appreciate a greater significance in the results obtained, approximately 10% of funds show significantly positive market timing skills and the same proportion of funds show negative market timing across countries. In the present study we show the usefulness of the increase in the temporal frequency of the observations as the use of daily data instead of monthly returns in the analysis implies a greater significance in the results obtained. Thus, we consider more advantageous the use of daily frequencies for market timing evaluation of mutual funds.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48742432","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}
Nowadays, most organizations consider the adoption of sustainable practices as not only a competitive advantage but also a necessity for long-term survival. However, it yet remained inconclusive how they affect SC performance. Moreover, how do HR and organizational strategies complement these relationships. This study explored various supply chain functions that influence sustainability and supply chain performance. We also investigated the role of HR and organizational strategies moderating these relationships. For this, we proposed a theoretical framework modifying Katiyar et. al. (2018) model to incorporate the above-discussed moderation. We argue that Planning, Sourcing, and delivery performance improves the SC performance directly, as well as through increasing Manufacturing and Sustainability Performance. We also contend that the effect of these factors on SC performance is augmented where there are well-defined HR and organizational strategies. Empirical validity was established by conducting a survey using a close-ended questionnaire. The data was collected through a five-point Liker questionnaire, from which 1000 samples of 300 responses from Pakistan's manufacturing industry are obtained. Structured equation modeling was used to analyze data. The results suggested that manufacturing, and sourcing Performance, seem to have a direct positive effect on supply chain (SC) performance, whereas delivery performance seems to be affecting - Sustainability Performance. Hence, manufacturing performance seems to positively mediate the effect of sourcing performance on SC performance. Results also suggested that HR strategies seem to positively the effect of complement delivery performance whereas negatively complement the effect of sourcing performance on SC performance. Finally, implications to theory and practice are discussed, especially for emerging economies.
{"title":"Impact of Planning, Sourcing, Delivery, Manufacturing and Sustainability Performance on Firm’s Supply Chain Performance in Manufacturing Industry of Pakistan: The Complementary Role of Human Resource, And Organization Strategies","authors":"HAFIZ MUHAMMAD RIZWAN AHMED, D. Siddiqui","doi":"10.2139/ssrn.3942262","DOIUrl":"https://doi.org/10.2139/ssrn.3942262","url":null,"abstract":"Nowadays, most organizations consider the adoption of sustainable practices as not only a competitive advantage but also a necessity for long-term survival. However, it yet remained inconclusive how they affect SC performance. Moreover, how do HR and organizational strategies complement these relationships. This study explored various supply chain functions that influence sustainability and supply chain performance. We also investigated the role of HR and organizational strategies moderating these relationships. For this, we proposed a theoretical framework modifying Katiyar et. al. (2018) model to incorporate the above-discussed moderation. We argue that Planning, Sourcing, and delivery performance improves the SC performance directly, as well as through increasing Manufacturing and Sustainability Performance. We also contend that the effect of these factors on SC performance is augmented where there are well-defined HR and organizational strategies. Empirical validity was established by conducting a survey using a close-ended questionnaire. The data was collected through a five-point Liker questionnaire, from which 1000 samples of 300 responses from Pakistan's manufacturing industry are obtained. Structured equation modeling was used to analyze data. The results suggested that manufacturing, and sourcing Performance, seem to have a direct positive effect on supply chain (SC) performance, whereas delivery performance seems to be affecting - Sustainability Performance. Hence, manufacturing performance seems to positively mediate the effect of sourcing performance on SC performance. Results also suggested that HR strategies seem to positively the effect of complement delivery performance whereas negatively complement the effect of sourcing performance on SC performance. Finally, implications to theory and practice are discussed, especially for emerging economies.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47026177","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}
This thesis discusses the probable Granger-causal link between short-term speculation in the first place, and commodity price volatility (conditional and historical) in the second place, in the commodities futures market. The research is executed for Pakistan in the period from 2015 to 2019. Stock price volatility is measured as regard to "conditional" and "historical" volatility, although the speculative activity is evidenced as "scalping" activity. To this end, we first examine the top 28 commodities which are top traded and imply a pairwise Granger causality analysis on an individual basis associated with energy, agriculture, indices, currency pairs, and metal contracts. Afterward, we set up panel Granger causality test category wise and in the third phase, we execute the panel Granger causality test combine altogether to estimate for extensive categories of commodities whether connections of lead-lag have existence between price volatility and speculation. The findings indicate that there can be similarities among price volatility and speculative trading practices, where both individual contract and commodity groups are viewed. The position of speculative trading is therefore critical for the volatility of future prices. Current relations between the two factors become more apparent as short-term speculation is mentioned. Hence, the most of key relationships lead to short-term speculation, leading to volatility. This indicates that the volatility-drivers type is a scalper and noise trading has dominated market volatility strength.
{"title":"Price Volatility and Speculative Activities In Pakistan Mercantile Exchange: A Granger – Causality Analysis","authors":"R. Siddiqui, D. Siddiqui","doi":"10.2139/ssrn.3942678","DOIUrl":"https://doi.org/10.2139/ssrn.3942678","url":null,"abstract":"This thesis discusses the probable Granger-causal link between short-term speculation in the first place, and commodity price volatility (conditional and historical) in the second place, in the commodities futures market. The research is executed for Pakistan in the period from 2015 to 2019. Stock price volatility is measured as regard to \"conditional\" and \"historical\" volatility, although the speculative activity is evidenced as \"scalping\" activity. To this end, we first examine the top 28 commodities which are top traded and imply a pairwise Granger causality analysis on an individual basis associated with energy, agriculture, indices, currency pairs, and metal contracts. Afterward, we set up panel Granger causality test category wise and in the third phase, we execute the panel Granger causality test combine altogether to estimate for extensive categories of commodities whether connections of lead-lag have existence between price volatility and speculation. The findings indicate that there can be similarities among price volatility and speculative trading practices, where both individual contract and commodity groups are viewed. The position of speculative trading is therefore critical for the volatility of future prices. Current relations between the two factors become more apparent as short-term speculation is mentioned. Hence, the most of key relationships lead to short-term speculation, leading to volatility. This indicates that the volatility-drivers type is a scalper and noise trading has dominated market volatility strength.","PeriodicalId":74863,"journal":{"name":"SSRN","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48287854","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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