The Interrelationship between Culture and Capital Structure:Evidence from International Retailers

The present study investigates the influence of cultural factors in 2022 on the capital structure of global retailers.There are sixteen retailers from eight countries in the sample.In recent times,numerous academicians have taken an interest in examining the capital structure and business model of retailers,owing to their swift and consistent growth.However,the fact that the majority of research originates from the retailers’host country gives rise to debate regarding the applicability of the capital structure of said retailers to countries with distinct cultural environments.Consequently,academics have begun to investigate whether the capital structure of multinational retailers is impacted by the diversity of national cultures.

Optimization of Electricity Purchase and Sales Strategies of Electricity Retailers under the Condition of Limited Clean Energy Consumption

In the process of my country’s energy transition,the clean energy of hydropower,wind power and photovoltaic power generation has ushered in great development,but due to the randomness and volatility of its output,it has caused a certain waste of clean energy power generation resources.Regarding the purchase and sale of electricity by electricity retailers under the condition of limited clean energy consumption,this paper establishes a quantitative model of clean energy restricted electricity fromthe perspective of power system supply and demand balance.Then it analyzes the source-charge dual uncertain factors in the electricity retailer purchasing and selling scenarios in the mid-to long-term electricity market and the day-ahead market.Through the multi-scenario analysis method,the uncertain clean energy consumption and the user’s power demand are combined to form the electricity retailer’s electricity purchase and sales scene,and the typical scene is obtained by using the hierarchical clustering algorithm.This paper establishes a electricity retailer’s risk decisionmodel for purchasing and selling electricity in themid-and long-term market and reduce-abandonment market,and takes the maximum profit expectation of the electricity retailer frompurchasing and selling electricity as the objective function.At the same time,in themediumand longterm electricity market and the day-ahead market,the electricity retailer’s purchase cost,electricity sales income,deviation assessment cost and electricity purchase and sale risk are considered.The molecular results show that electricity retailers can obtain considerable profits in the reduce-abandonment market by optimizing their own electricity purchase and sales strategies,on the premise of balancing profits and risks.

Impact of Shipping Distance on Online Retailers' Sales:A Case Study of Maiyang on Tmall

Many studies have qualitatively explained that information and communication technology(ICT) has loosened the restrictions of distance and space on retailers' sales. Few empirical studies, however, have explored the impact of shipping distance on online retailers' sales. This study examined the Maiyang(M-Y) store on Tmall in China as a case study to investigate the relationship between shipping distance and sales. The results showed that sales volume in 2014 at the county level did not strictly obey the distance decay law. The shipped distance of high-priced commodities may not be much longer than that of low-priced commodities. Within the scope of investigation, the relationships between income, cost, and net profit curves do not follow central place theory. Goods have neither thresholds nor ranges. The key factor in the spatial discrepancy of sales is the size of market. The impact of shipping distance on sales is not as strong as that of traditional retailers in Information Era.

Pricing decision of green supply chain under the game competition of duopolistic retailers

In order to evaluate the impact of green production introduced by the manufacturer and study the competitive strategy between two retailers,four strategic models among diverse retailers,i.e.,Cournot,Stackelberg and two cases of collusion,are constructed.The optimal decision is obtained by the game theory and numerical analysis.The results indicate that the manufacturer's marginal profitability is no less than that of the two retailers.However,due to the manufacturer's green cost,the downstream profitability of the supply chain may exceed the upstream manufacturer's profitability.The retailers'Cournot behavior causes the manufacturer to acquire the highest profitability and set the highest green level.However,there is an opposite result in collusion.Two retailers will choose Cournot pricing when the consumer's green sensitivity is higher than a threshold.When consumers are more sensitive to the price difference of products,retailers prefer collusion,and then choose the Stackelberg behavior.Manufacturers'profitability will increase as competition among retailers intensifies.Proper competition allows two duopolistic retailers to acquire a higher profitability.

Identifying the Geography and Determinants of O2O Online Retailers in Megacity in Central China:A Case Study of Zhengzhou City

In recent years,O2O e-commerce,represented by online group-buying,has developed vigorously,which had significant impacts on urban commercial space.Zhengzhou City is a rising national central city in China,and its e-commerce development level is ahead,but relevant researches are rare.Therefore,the data of online retailers of Meituan.com was collected and combined with Baidu map and Baidu heat map data.Then,we adopted the methods such as spatial statistics and geodetector to explore the geography and determinants of O2O online retailers in Zhengzhou urban area.The main conclusions are 1)The spatial development of O2O online retailers is characterized by significant global high-value agglomeration.2)The agglomeration areas of different types of O2O online retailers are different.Most of them are concentrated in the old urban area within the Third Ring Road of Zhengzhou City,forming five comprehensive agglomeration areas.3)The areas with the high e-commerce development level are mainly concentrated in the northeast and southwest of the x-shaped region formed by the intersection of Lianyungang-Lanzhou and Beijing-Guangzhou railways.Erqi Square and Guomao 360 Plaza are at the highest development level,followed by Zhongyuan Wanda Plaza and Daxue Middle Road.The development level at other areas is relatively low.4)Zhengzhou’s O2O commercial pattern is highly dependent on physical business.The population distribution,especially the population distribution during the nightlife period,plays a vital role in its spatial development,followed by accessibility.The influences of physical distance are slightly larger than that of time cost,but the difference between them is little.In addition,travelling costs have the least impact.This paper could provide certain references for urban commercial planning.

Decision-Making of a Single Supplier and Multiple Loss-Averse Retailers under Partial Trade Credit

Under partial trade credit,suppliers usually require retailers to pay a fraction of the purchase cost immediately when ordering and the remaining payment is deferred at the end of the sales period.Considering a supply chain consisting of a risk-neutral supplier and multiple loss-averse retailers,we develop models under partial trade credit.We analyze the optimal decisions of a supplier and retailers under decentralized decision-making.The study shows that there is a unique Nash equilibrium among the retailers,and the optimal total order quantity of retailers increases as the delayed payment ratio increases and as the degree of retailers'competition increases,but decreases with an increase in the loss aversion.Numerical studies are conducted to demonstrate the solution procedures and the effects of the parameters on decisions and profits.

Exploring the Retailer＇s Relational Satisfaction in a Non-western Context： Evidence From the Tunisian Post 2011 ＇s RevolutionSetting

The current research aims to find out whether the model of the retailer＇s relational satisfaction, developed in a western setting is relevant in a different economic and cultural field of investigation： the Tunisian post 2011 revolution＇s emerging context, and in a different industry： the retail industry. It explores the distinctive economic and cultural features that affect the retailer＇s relational satisfaction with its consumer goods manufacturers. The study employs a survey based on a face-to-face administered questionnaire. Two hundred and thirty four responses from a survey with Tunisian retailers as well as international retailers operating in Tunisia were obtained. All constructs are measured using five-point Likert type scales （1 = strongly disagree, 5 = strongly agree）. Analyses are conducted using exploratory factor analysis and reliability analysis. The results support the original model with however some differences derived from the Tunisian economic setting as a whole, the characteristics of the Tunisian consumer goods industry as well as the clan characteristic feature of the Tunisian collectivistic culture. Thus, the amount of discounts obtained, does no longer contribute to the retailer＇s economic satisfaction. Moreover, when it comes to social satisfaction, the respondents get uncomfortable, even to deal with a potential negative interaction with their suppliers. For retail companies involved in internationalization in the Maghreb Region, and especially in Tunisia, it seems that other competitive advantages than prices are to be developed, such as the development of private label or other services that create positive perceived value for the Tunisian customer. From a cultural standpoint, western managers have rather to go away from a formalized channel relationship management, while taking into account the importance of interpersonal influence. The study sheds light on the heterogeneity of the so-called Arab-Muslim world. This is highlighted in the management of channel relationship in Tunisia, that is influenced by： （1） The government＇s price regulation and control, especially in many food products; （2） The relative weak importance of discounts in gaining retailer＇s economic satisfaction; （3） The reshaping of the local retailing sector due to the arrival of international retail companies; （4） The clan feature of the Tunisian collectivistic culture that advocates putting priority on interpersonal influence in channel relationship＇s management.

Online Grocery Brick and Mortar Retailers.State of the Art in Italy,But Is It a Profitable Strategy?

In contemporary entrepreneurial environment based on customer retention,the growth of the Internet has pushed the most dynamic businesses to compete in the electronic market.The recent evolvement of the Internet as a new major distribution channel has obtained much attention,as the online channel calls the viability of traditional stationary retailing into question.Today,since innovation is a key factor in the Digital Age,the presence in the digital marketplace is essential for retailers,also in the food retailing.The paper aims to analyze the online commerce for food groceries and compare the evolution from 2017 to 2019.The sample represents the 99%of Italian brands of brick and mortar supermarkets and hypermarket.The first study was conducted in 2017,after two years the paper has analyzed the same sample and reported how many groceries retailers have adopted the online selling.Through the visit of every Internet site and some interviews to managers,this paper proposes the reasons why only a limited number of grocery brands sell food over Internet.Moreover,this paper calculates the cost(in Italy)to prepare the expense and satisfy the order of a customer.Characteristics of goods(freshness,perishability,cold chain warranty,etc.),expensive operations needed to prepare the delivery,the cost of delivery,and difficult reverse logistics are the main causes of low adoption of e-commerce.Online groceries retailers are concentrated around big cities in particular in the north Italy(Milan,Turin,Genoa,etc.).Expense is prepared inside the retail by the employees.Some shops use the drive-in model and only a limited number of cases deliver to home.The few cases of food e-commerce offer the delivery only in a limited area of big cities.At the end,this paper demonstrates the logistics cost(picking,packing and transport)in Italy is higher than the price of the service and this strategy isn’t profitable for companies.

An Analysis of the Impact of Charging for Plastic Shopping Bags to Retailers in Japan

In accordance with a revision of the Containers and Packaging Recycling Law, there is an accelerating trend towards charging for plastic shopping bags （PSBs） in Japan for the purpose of reducing their discharge. The objectives of this research were to gauge, by means of a questionnaire survey, the opinions of retailers with regard to charging for PSBs, and to consider future directions for reducing the quantity of waste discharged. A questionnaire survey on charging for PSBs was conducted for retail stores in Shizuoka City. The survey was carried out in two phases. The results of the first phase （August to October 2008） showed that supermarkets were generally positive, while conversely other retailer types were negative. The results of the second phase （November to December, 2010）, targeting only supermarkets that had introduced charging after the first survey, showed that there was no major confusion and the shift proceeded relatively smoothly. In addition, the number of customers did not decline on account of charging, and the ratio of shoppers bringing their own reusable ＂eco bags＂ jumped dramatically. On these accounts, it is evident that charging for PSBs is an effective means of reducing usage of PSBs. The authors view it as important for the relevant governmental agencies to work towards promoting charging at retailers and simultaneously repeatedly explaining to consumers the necessity for charging.

Properties of Nash Equilibrium Retail Prices in Contract Model with a Supplier, Multiple Retailers and Price-Dependent Demand

Recently, price contract models between suppliers and retailers, with stochastic demand have been analyzed based on well-known newsvendor problems. In Bernstein and Federgruen [6], they have analyzed a contract model with single supplier and multiples retailers and price dependent demand, where retailers compete on retail prices. Each retailer decides a number of products he procures from the supplier and his retail price to maximize his own profit. This is achieved after giving the wholesale and buy-back prices, which are determined by the supplier as the supplier’s profit is maximized. Bernstein and Federgruen have proved that the retail prices become a unique Nash equilibrium solution under weak conditions on the price dependent distribution of demand. The authors, however, have not mentioned the numerical values and proprieties on these retail prices, the number of products and their individual and overall profits. In this paper, we analyze the model numerically. We first indicate some numerical problems with respect to theorem of Nash equilibrium solutions, which Bernstein and Federgruen proved, and we show their modified results. Then, we compute numerically Nash equilibrium prices, optimal wholesale and buy-back prices for the supplier’s and retailers’ profits, and supply chain optimal retailers’ prices. We also discuss properties on relation between these values and the demand distribution.

Retailers Enliven Catalog Offerings Through Apps

New York Times reported on November 20 that when you browsed Anthropologie’s stores, you would feel as if you’re wandering through an artsy home, where there are sure to be closets full of eclectic outfits, bedrooms with bohemian quilts and kitchen tables with

Online Fashion Retailer Bonobos Selects Gerber Technology's YuniquePLM^(TM) Industry-Tailored Software to Support Rapid Growth and Fast-Paced Product Innovation

Tolland,Connecticut,USA-Gerber Technology,a business unit of Gerber Scientific, Inc.(NYSE:GRB) and a world leader in automated CAD/CAM and PLM solutions for the apparel and flexible materials industry,announces that fast-growing internet retailer Bonobos,Inc. has selected the YuniquePLM product

COTTON USA Buyers Tour Brings Global Brands and Retailers to China

MEMPHIS-The COTTON USA Buyers Tour to China delivered representatives from 18 global companies-with a combined

Fake Makes Chinese Retailers Lose Millions

On April 13,the judiciary of Brazil St.Paul under the help of the local police suddenly confiscated the wholesales market of Chinese clothing,located at Street 25 of the shopping center. In all,48 Chinese dealers were seized under allegation

Retailers,You Can Get Omni-Shopper’s Satisfaction!

This paper evaluates the influence that information processing routes have on omni-shopping behavior,as well as analyzing the consequences of this behavior for retailers through a cognitive-affective approach.A sample of 705 mobile phone users was used for this purpose.The results obtained using the binomial logit model in a first phase and later with an application of structural equations,reflect that omni-shoppers have a more planned purchasing behavior than those who develop a one-stop shopping behavior.They search for information in a rational and deep way,spending time and effort.As for the consequences that the omni-channel behavior has for retailers,it has been found that those omni-shoppers who experience negative emotions with the retailer,have a low perceived value of the company and their satisfaction will also be negative.

Retailers'incentives for green investment in differentiated competition channels

With increasing public environmental awareness,green activities in retail and distribution processes have become crucial tools for retailers to boost demand and enhance competitiveness.This study develops an analytical model to study the green investment choices of two differentiated retailers dealing with a common green manufacturer.It also explores the impacts of these investment choices on the manufacturer's operational decisions,channel efficiency,consumer welfare,and the environment.We derive three main results.First,the powerful retailer always favors green investments,whereas the less powerful(inferior)retailer may either prefer or avoid green investments.The fiercer the interretailer competition,the lower the willingness of the inferior retailer to introduce green investments.Second,although all supply chain parties may disagree on their preferences for retailers'green investments,a bilateral green investment(i.e.,both retailers make green investments)can reach an incentive alignment for all firms if the differentiation between retailers is low enough and the competition between them is not substantially fierce.Moreover,a bilateral green investment improves consumer welfare and channel efficiency because of the great demand expansion and double marginalization reduction.Third,the retailers'green investments can motivate the manufacturer to produce greener products,but they do not necessarily benefit the environment.We show that the supply chain's economic sustainability aligns with its environmental sustainability only if the environmental improvement efficiency of green investments is substantially high.We further examine the impact of retailers with differentiated green investment abilities and the manufacturer's green investment efficiency to verify the robustness of the main results.

Study on the Influencing Factors of“Internet+”Recycling of Waste Mobile Phone Dominated by Retailers

The popularization of smartphones and the acceleration of their replacement lead to a surge in mobile phone disposal.How to recycle waste mobile phones efficiently becomes a major problem in today’s society.The“Internet+”recycling mode is an effective way to solve this problem.The recycling process of waste mobile phones involves retailers,manufacturers,third parties and other recycling parts.Retailers have natural advantages compared with other parts because of their perfect sales network and logistics system.The system dynamics model for“Internet+”recycling of waste mobile phones dominated by retailers is constructed,and the Vensim software is used to simulate the influence of changes in two key factors in“Internet+”recycling environment:Annual operating cost of online platform and offline unit logistics cost on retailers’recycling volume and recycling profit.The results show that the investment of online platform operation cost is conducive to the increase of retailers’online waste mobile phone recycling volume and recycling profit,while the investment of offline logistics cost increases retailers’online waste mobile phone recycling volume,but reduces the recycling profit.

A single-manufacturer multi-retailer sustainable reworking model for green and environmental sensitive demand under discrete ordering cost reduction

This paper develops an economic production quantity(EPQ)model for a singlemanufacturer multi-retailer(SMMR)production and reworking system with green and environmental sensitive customer demand.The minimum cost of the manufacturer has obtained under carbon emissions(CE)policies and discrete ordering cost reduction.The model is used to optimize the total number of shipments,greening investment level,environmental measure,and lot size for productions and rework.This research work determines that the manufacturer’s and retailer’s profits will be increased after considering the environmental and green dependent demand of customers.Further,the development of green and environmental demand is proposed to minimize the CE and maximize the demand for the customers.In the existing literature,no discrete investment is developed for reducing the cost of ordering for the retailer/buyer.However,in this paper,we have introduced it.We provide numerical examples to explain the models and determine the significance of model parameters.