The Relationship Between Intellectual Capital （IC） and Stock Market Performance： Empirical Evidence From Italy

Intellectual capital （IC） is an important source of value for companies. The competitive firm invests in new productive ideas through scientific and technological researches of the human factor and services. The traditional factors of＂old economy＂ based on physical assets have been replaced or at least reinforced, with the belief that the ＂new economy＂ takes its steps mainly through IC. The knowledge workers, at every organizational level, have the knowledge that allows the organization to be competitive and deal with the complexity of the environment by creating intellectual added value. In particular, the proposed analysis consists with an empirical way to show other financial indicators and market-to-book （MTB） value from the perspective of creating value for shareholders based on the dynamics of companies＇ performance, as value-added intellectual capital （VAICTM） is capable of expressing a direct relationship with the return on equity （ROE）. The traditional financial information cannot ensure the high efficiency of a stock market and the need for IC reporting to explain intangible asset contribution in company performance.

Impact of Exchange Rate Threshold Level on Stock Market Performance- Evidence from Ghana

The exchange rate plays a significant role in an economy and also the purpose of this study is to examine the impact of exchange rate threshold level on the capital market performance.The study used a Threshold Autoregressive model introduced by[24]and[12].The study used quarter-time series data for thirty years from 1990 to 2019.The capital market performance was measured by the value of shares traded;market turnover;market capitalization and all-shares index.However,the results unconcealed the subsequently estimated threshold level of exchange rate for every performance indicator:7.94%;25.33%;25.33%,and 7.80%respectively.In all,the threshold level of the exchange rate estimated was 8 and 25 percent.The findings suggest that a low rate is performance-enhancing.Additionally,the exchange rate above the threshold level is harmful to the capital market performance.The findings of this investigation may be helpful to the government of Ghana and policymakers as they decide on an exchange rate target to implement to avoid the prejudicious effects of high exchange rates whereas getting the growth advantages of the low exchange rate.The finding of the study shows that the exchange rate impacts the economy more than inflation however,not many works in the subject area have been done in Sub-Saharan Africa.Therefore,I suggest that more threshold studies ought to be meted out on the exchange rate in the other sectors of the economy to determine its impact on the economy.

Stock Market Measures and Market Performance

Sri Lanka is considered a highly fluctuating economy in the South Asian region.Understanding the behavior of economics is of utmost important to obtain the maximum benefit.Stock market can be considered as one of the key influencers to the economy whereas the behavior of the stock market would highly define the behaviors of the economic system.It is required to identify the stock market measures and their contribution for the market development to recognize the influence of stock market.The immense importance of its actions on the market performance leads to find more about the stock market’s measures.This research contains the evidence of the study conducted to identify the stock markets development and behavior measures such as all share price index,market capitalization,dividend yield,price to earnings ratio and shares traded equity.All of these variables were used to obtain a model to describe and predict performance of stock market over the time.The secondary data from the CSE(Colombo Stock Exchange)is studied which the trend analysis was conducted for each series of data and results were used for the analysis.A statistical analysis was carried out to identify the measures of stock market depicts that all the measures of the stock market have influences on the stock market development except for the dividend yield,a useful fact in the process of decision making in many aspects.

Search Engine Optimization,Competitive Advantage and Market Performance of Registered Tours and Travel Agencies in Nairobi City County,Kenya

COVID-19 is a devastating pandemic with widespread negative health,social,and economic consequences.Due to drastic changes in the business environment of tour and travel agencies,firms and marketing managers can now use search engine optimization to effectively position themselves.The study’s main goal is to evaluate the effect of search engine optimization on the market performance of registered tours and travel agencies in Nairobi County,Kenya.Kenya’s tourism ministry and state government work hard to improve the business climate for tour and travel companies.Despite the overall positive image,international tourist market growth rates in Kenya have been 3.5 percent slower from 2017 to 2019 compared to previous years.This was further aggregated by the onset of the COVID-19 pandemic in the year 2020,when the growth rate of tours and travel agencies fell by 65%.The study’s main goal is to evaluate the effect of search engine optimization on the market performance of registered tours and travel agencies in Nairobi County,Kenya.This study adopted a positivist philosophy.Both descriptive and explanatory research designs were used.A self-administered semi-structured questionnaire was used to collect data from 324 registered tours and travels agencies picked from and a sample of 179 were used.Data analysis included the development and interpretation of both descriptive and inferential statistics,such as frequencies,mean,percentages,and standard deviation,and was presented using tables and numerical values.The results of regression analysis established that search engine optimization had a positive and significant effect on market performance of the registered tours and travel agencies picked from a sample of 179.The study recommends that agency management ensure that the firm’s website is easily accessible in order to improve agency performance.Using the internet to gain a large market share can assist tours and travel agencies in improving the performance and income of their websites.

Investigating the mediating role of innovation capabilities in relationship between strategic orientation and market performance: a case study of Tabriz State Hospitals

Introduction:Innovation is the creation of new products,services,processes or systems that first begin with a thought and is put into operation after successful implementation.This research aims to investigate the mediating role of innovation capabilities in relationship between strategic orientation and market performance in Tabriz state hospitals.Methods:This study is an applied research in terms of the purpose and it is a descriptive-correlative research in terms of methodology.The statistical population involves the staff of Tabriz state hospitals consisting 362 individuals who were selected randomly.A questionnaire was used to collect data from statistical sample.The strategic orientation was operationally defined based on Laek Cannon et al.’s(2011)model,innovation capabilities were defined based on Jimens-Jimens and Sanz Vale’s(2010)model and market performance was defined based on Hajipour et al.’s model(2012).Results:The results showed that the value of CHI SQUAR/DF for the estimated model is 0.817 which indicates the proper fitness of the model.Considering the standardized factor loads and meaningfulness coefficient it can be suggested that strategic orientation affects market performance with the mediating role of innovation capabilities.Meanwhile,the effect of strategic orientation and innovation capabilities on the market performance was confirmed based on the linear regression results.Conclusion:Innovation capabilities play an active role in the relationship between strategic orientation and market performance.Therefore,senior management of organizations needs to work to improve their performance by supporting the ability to innovate and formulating and implementing strategic orientations.

Competition Networks as a New Insight into the Determinants of Firm Technological and Market Performance

Based on the global patents of 109 mobile phone vendors filed from 1992 to 2016 and sales data from 2002to 2016, this study formulates technological and market competition networks. We find that an increasingly large number of firms joined the market, leading to a competition network of increasingly larger scale and greater density. We also propose indicators to measure competitive intensity, which reflects the extent to which the firms are competing against each other. We examine the role of competitive intensity in mediating firms’ performance. We employ a weighted least squares regression model for the empirical analysis. The empirical results confirm the significant role of competitive intensity in determining firm performance. However, in technological and market competition networks, competitive intensity generates essentially different mediating impacts. For technological competition, competitive intensity positively mediates the impact between the leaders’ and followers’ technological performances. There is an asymmetric mediating effect that enlarges the gap between the technological performances of leading vendors and their followers. Accordingly, competitive intensity may generate different impacts on the technological performance of leaders and followers. In comparison, the competitive intensity embedded in the market competition network has a symmetrical role in mediating the mutual impact between the leaders’ and followers’ market performances, that is, it neither enlarges nor narrows the market performance gap between leaders and followers. Therefore, when creating a development strategy, firm managers need to account for their competitors’ behaviors, carefully analyze the significance of these behaviors, and adjust their strategic arrangements in a timely manner.

The market performance of foreign funded passenger car makers in China

1.Japan-based makers have presented most increasingly models and brands German-based car makers continued dominating the market until 2003 and the market shares of two

Application of Color Psychology in Korean Brand Identity Design-Etude House

The purpose of this analysis is to delve into the application of color psychology in the logo design of Korean cosmetic brands,using Etude House as an example for an exhaustive analysis.By examining the history of the Etude House brand,the evolution of the logo design,and the changes in color choices,we analyze the traditional concepts of color symbolism in Korean culture and the culture of color in contemporary society in order to reveal the important role of color in cosmetic brand image.Through an in-depth analysis of the use of color in Etude House’s brand identity,we further analyze the impact of color on consumer emotions and purchasing behavior,as well as the potential impact of brand identity changes on market performance.Finally,the conclusions of the analysis summarize the practical application of color psychology in Etude House’s brand logo design,suggest recommendations for other Korean cosmetic brands to draw upon in their logo design,and discuss future directions.

How Horizontal Mergers Improve Industrial Structure？

By reviewing the research on the effect of corporate merger, we find that knowledge is still limited to the effect of corporate merger on industrial structure. In this article, firstly we study the effect of horizontal merger on market structure, then explore the effect of market performance on industrial structure. Finally we present a new model that can explain how horizontal merger improves the adjustment of industrial structure.

The Impact of Investing in Emerging Markets on Firm Performance: An Exploratory Study of Taiwan Residents Multinational Enterprises in the Chinese Mainland

Ⅰ.IntroductionDuring the past two decades,many multinationalenterprises(MNEs)have made substantial investmentsin emerging markets.Two factors dominate thereasoning in favor of such an investment strategy:lowlabor costs and the large size of the markets in the hostcountries.While these two economic factors seem quite

Remarkable Performance in Lithium Battery Copper Foil Market

2018 government work report indicates that'We should strengthen fundamental role of consumption in economic development,as well as promote consumption upgrading and develop new business models of consumer sector.We will extend preferential policies on NEV vehicle purchase tax for another three years'.

Modeling the impact of uncertainty in emissions trading markets with bankable permits

The various forms of uncertainty that firms may face in bankable emission permit trading markets will affect firms＇ decision making as well as their market performance. This research explores the effect of increased uncertainty over future input costs and output prices on the temporal distribution of emission. In a dynamic program- ming setting, the permit price is a convex function of stochastic prices of coal and electricity. Increased uncer- tainty about future market conditions increases the expected permit price and causes a risk neutral firm to reduce ex ante emissions in order to smooth out marginal abatement costs over time. Finally, safety valves, both low- side and high-side, are suggested to reduce the impact of uncertainty in bankable emission trading markets.

The first compliance cycle of China’s National Emissions Trading Scheme:insights and implications

China’s national Emissions Trading Scheme(ETS),the largest ETS in terms of the amount of CO_(2) regulated,was launched on the trading platform operated by the Shanghai Environment and Energy Exchange(SEEE)on July 16th 2021,and has successfully completed its first compliance cycle on December 30th,2021.During the operation of its first cycle,China’s national ETS differs from other international ETSs in many aspects,including trading products and participants,allowance allocation method,compliance term,and offset mechanism,leading to certain unique trading patterns.Some unique settings are worth noticing including key emitters dominated by state-owned enterprises(SOEs)who also dominate transactions,large-scale power groups’carbon strategies,allowances for 2 years of 2019 and 2020 being processed in one compliance period and allowed inter-year banking of allowances.All these have led to trading patterns characterized by cyclical demand-driven trading,insufficient trading capabilities of regulated entities,stable allowance price and an increased price of CCER.Nonetheless,the successful running of its first compliance cycle offers invaluable experience for future ETS development in operational mechanism improvement,sector coverage expansion,allocation optimization,and introduction of different types of market players and tradable products,and provides a good reference for future international expansion.