In this paper, we study day-of-the-week effects in stock retums across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return...In this paper, we study day-of-the-week effects in stock retums across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return data of four market indexes and 16 industry sectors for the period from October 1, 1997 to April 16, 2009. We do not find significant Monday anomalies of the market index, large capitalization stock index and all industry sectors except for the property sector. Our finding is inconsistent with the literature on the New Zealand stock market. However, we find that the mid and small capitalization stocks have significant negative returns on Mondays than on other weekdays, which is consistent with the previous studies in some other markets.展开更多
The objective of the paper was to examine the relationship between the world rice price and the rice price in Togo using the linear and nonlinear co-integration tests. The author used the monthly prices for Togo local...The objective of the paper was to examine the relationship between the world rice price and the rice price in Togo using the linear and nonlinear co-integration tests. The author used the monthly prices for Togo local rice market and international market. The results show that the rice prices on the local market are integrated to international market. The elasticity of the long-term transmission is high. The threshold autoregression （TAR） model reveals an asymmetric transmission with a magnitude that varies depending on the nature of shock. Price increases in international markets are transmitted more rapidly to the local markets than price reductions. These results might be explained by the market power of traders, transport costs and government intervention.展开更多
The public private partnership （PPP） has functioned worldwide for more than 40 years now, and in different countries, it is developing at different speeds with varying degrees of success. The purpose of this article...The public private partnership （PPP） has functioned worldwide for more than 40 years now, and in different countries, it is developing at different speeds with varying degrees of success. The purpose of this article is to emphasize some standards of the PPP, in particular, within health services area which would guarantee a successful transformation process within the medical services market in Poland, and thus an appropriate division of financial and market risks among the public sectors, including local government sector and private partners within the health services area. Certainly, proper transformation solutions within that industry would significantly contribute to the stabilization of the local government＇s finance sector and higher resistance to the global financial crisis.展开更多
This paper＇s objective is to examine the relationship between public and private sectors through the mechanisms of public intervention in the market. With the financial and economic crisis of 2008, there has been a c...This paper＇s objective is to examine the relationship between public and private sectors through the mechanisms of public intervention in the market. With the financial and economic crisis of 2008, there has been a coordination of states （G20） for the implementation of affirmative action in order to support the international financial system. Our hypothesis is that resource dependence is the basis of all interactions between the public and private sectors. The fact that the public sector bails out private sector activity shows that it is beneficial to citizens through employment and taxes repaid by the company and all this contributes to social stability. Here we develop an argument in two phases. The first is to revisit the question of the relationship between the state and the market. The second part develops the hypothesis by focusing on the interdependence of resources. The theory of resource dependence often applied to international relations and inter-organizational business has allowed us to highlight the correlation between public and private sectors展开更多
Based on extensive micro data sets, this paper examines the relationship among large-scale entry and exit, competition and total factor productivity （TFP） growth of China＇s industry during economic transition and m...Based on extensive micro data sets, this paper examines the relationship among large-scale entry and exit, competition and total factor productivity （TFP） growth of China＇s industry during economic transition and market opening. We have arrived at these findings： market opening spurs entry and exit of large numbers of non-state-owned enterprises （non-SOEs） and facilitates dynamic competition; through the stimulation effect of competition, entry and exit push TFP growth on the part of enterprises; through the resource reallocation effect, entry and exit promote growth of the aggregate TFP. However, results indicate that the resource allocation efficiency remains very low in capital-intensive industries where the government intervenes a lot. To conclude, promoting open competition is significant to the growth of industrial sectors ＇productivity.展开更多
The demand for natural resources, energy and food facing the contemporary perception of sustainability is imposing challenges to the productive sectors in accordance with market guidelines. In this context, the Brazil...The demand for natural resources, energy and food facing the contemporary perception of sustainability is imposing challenges to the productive sectors in accordance with market guidelines. In this context, the Brazilian agribusiness seeks to maintain external competitiveness and to satisfy growing domestic demands. In beef production, this competitiveness pervades traceability, food safety and sustainability. This article aims to identify the sustainability state of the art in agribusiness and characterize it within the Brazilian beef chain. Descriptive methodology, combining a literature review and a documentary data survey were adopted. An outline of the dimensions of agribusiness sustainability, drawn from benchmark practices, indicates that environmental, social and technological demands have become part of the industry＇s agenda. The data for beef cattle point to a growth in production but demonstrate that expansion has occurred in areas of environmental tension, which creates a demand for sustainability in the beef chain. A table of guidelines for sustainability demonstrates that although perceptions are not yet harmonized among the links in the whole beef chain, many of the technological guidelines for sustainable production may increase the producer＇s economic efficiency. In the Brazilian case, the increment of initiatives and dissemination of sustainable practices among the beef chain is desirable to provide a coordinated response of production, processing and distribution organizations facing market opportunities for sustainable livestock.展开更多
In search of private equity investment opportunities in China, one would be astonished by the rise of raw private entrepreneurship in this largest emerging market economy in the world. The country is experiencing a tr...In search of private equity investment opportunities in China, one would be astonished by the rise of raw private entrepreneurship in this largest emerging market economy in the world. The country is experiencing a transition from a planned, socialist economy to a market or mixed economy. The emergence of a significant private sector is one of the most important developments of the market-oriented reforms in China over the last quarter of a century. It is true that the transformation of public ownership into private ownership indeed gave a rise to the new private enterprises. Nevertheless, there is also an origination process of genuine private enterprises parallel to this privatization approach. In this paper, the concept of raw entrepreneurship is introduced to distinguish new, green-field private firms from the rest of the private sector that has emerged from older firms that have been converted from SOEs （state-owned enterprises） or COEs （collectively-owned enterprises）. It is also a concept that stresses the highly innovative manner in which private firms have emerged in China. This paper will explore deeply the concept of raw entrepreneurship through three case studies as well as theoretical analysis based on traditional wisdom.展开更多
In 2008, two governmental committees presented their conclusions on strengthening the role of the private building sector in building control. In 2011, three new studies were commissioned by the government to address ...In 2008, two governmental committees presented their conclusions on strengthening the role of the private building sector in building control. In 2011, three new studies were commissioned by the government to address perceived problems. One of them was an integral study, executed by ERB （Foundation Expertcentre Regulations in Building）, RIGO （Research Institute for Real Estate） and TNO （Research Institute for Applied Technologies）, to innovate the whole building regulations system. It led to proposals to redefine responsibility and liability for all parties. This study states that by an effort of yearly ￡100 million, unnecessary costs up to ￡l billion can be avoided and a real quality push will take place in the building and real estate markets. The goals to reach are to minimize the administrative burden for the building owner and to enforce the construction industry to build conforming to the regulations. This paper discusses the ERB study and the given proposals. The ERB study demonstrated that a quality push is needed which potential will lead to less costs for building owners. It also shows that proven solutions, part of the regulations, might be of help for all parties involved.展开更多
Auto-Making Plan China is aiming to become an automaking powerhouse in a decade,boosting the development of newenergy vehicles(NEVs)and relaxing restrictions on foreign ownership.The strategy is to achieve breakthroug...Auto-Making Plan China is aiming to become an automaking powerhouse in a decade,boosting the development of newenergy vehicles(NEVs)and relaxing restrictions on foreign ownership.The strategy is to achieve breakthroughs in key technologies and increase the share of Chinese brands in the international auto market by 2025,according to an auto industry development plan released on April 25 by three government departments including the Ministry of Industry and Information Technology.展开更多
文摘In this paper, we study day-of-the-week effects in stock retums across different industry sectors in the New Zealand market. Unlike other studies on this market, we examine weekday seasonality using daily stock return data of four market indexes and 16 industry sectors for the period from October 1, 1997 to April 16, 2009. We do not find significant Monday anomalies of the market index, large capitalization stock index and all industry sectors except for the property sector. Our finding is inconsistent with the literature on the New Zealand stock market. However, we find that the mid and small capitalization stocks have significant negative returns on Mondays than on other weekdays, which is consistent with the previous studies in some other markets.
文摘The objective of the paper was to examine the relationship between the world rice price and the rice price in Togo using the linear and nonlinear co-integration tests. The author used the monthly prices for Togo local rice market and international market. The results show that the rice prices on the local market are integrated to international market. The elasticity of the long-term transmission is high. The threshold autoregression （TAR） model reveals an asymmetric transmission with a magnitude that varies depending on the nature of shock. Price increases in international markets are transmitted more rapidly to the local markets than price reductions. These results might be explained by the market power of traders, transport costs and government intervention.
文摘The public private partnership （PPP） has functioned worldwide for more than 40 years now, and in different countries, it is developing at different speeds with varying degrees of success. The purpose of this article is to emphasize some standards of the PPP, in particular, within health services area which would guarantee a successful transformation process within the medical services market in Poland, and thus an appropriate division of financial and market risks among the public sectors, including local government sector and private partners within the health services area. Certainly, proper transformation solutions within that industry would significantly contribute to the stabilization of the local government＇s finance sector and higher resistance to the global financial crisis.
文摘This paper＇s objective is to examine the relationship between public and private sectors through the mechanisms of public intervention in the market. With the financial and economic crisis of 2008, there has been a coordination of states （G20） for the implementation of affirmative action in order to support the international financial system. Our hypothesis is that resource dependence is the basis of all interactions between the public and private sectors. The fact that the public sector bails out private sector activity shows that it is beneficial to citizens through employment and taxes repaid by the company and all this contributes to social stability. Here we develop an argument in two phases. The first is to revisit the question of the relationship between the state and the market. The second part develops the hypothesis by focusing on the interdependence of resources. The theory of resource dependence often applied to international relations and inter-organizational business has allowed us to highlight the correlation between public and private sectors
文摘Based on extensive micro data sets, this paper examines the relationship among large-scale entry and exit, competition and total factor productivity （TFP） growth of China＇s industry during economic transition and market opening. We have arrived at these findings： market opening spurs entry and exit of large numbers of non-state-owned enterprises （non-SOEs） and facilitates dynamic competition; through the stimulation effect of competition, entry and exit push TFP growth on the part of enterprises; through the resource reallocation effect, entry and exit promote growth of the aggregate TFP. However, results indicate that the resource allocation efficiency remains very low in capital-intensive industries where the government intervenes a lot. To conclude, promoting open competition is significant to the growth of industrial sectors ＇productivity.
文摘The demand for natural resources, energy and food facing the contemporary perception of sustainability is imposing challenges to the productive sectors in accordance with market guidelines. In this context, the Brazilian agribusiness seeks to maintain external competitiveness and to satisfy growing domestic demands. In beef production, this competitiveness pervades traceability, food safety and sustainability. This article aims to identify the sustainability state of the art in agribusiness and characterize it within the Brazilian beef chain. Descriptive methodology, combining a literature review and a documentary data survey were adopted. An outline of the dimensions of agribusiness sustainability, drawn from benchmark practices, indicates that environmental, social and technological demands have become part of the industry＇s agenda. The data for beef cattle point to a growth in production but demonstrate that expansion has occurred in areas of environmental tension, which creates a demand for sustainability in the beef chain. A table of guidelines for sustainability demonstrates that although perceptions are not yet harmonized among the links in the whole beef chain, many of the technological guidelines for sustainable production may increase the producer＇s economic efficiency. In the Brazilian case, the increment of initiatives and dissemination of sustainable practices among the beef chain is desirable to provide a coordinated response of production, processing and distribution organizations facing market opportunities for sustainable livestock.
文摘In search of private equity investment opportunities in China, one would be astonished by the rise of raw private entrepreneurship in this largest emerging market economy in the world. The country is experiencing a transition from a planned, socialist economy to a market or mixed economy. The emergence of a significant private sector is one of the most important developments of the market-oriented reforms in China over the last quarter of a century. It is true that the transformation of public ownership into private ownership indeed gave a rise to the new private enterprises. Nevertheless, there is also an origination process of genuine private enterprises parallel to this privatization approach. In this paper, the concept of raw entrepreneurship is introduced to distinguish new, green-field private firms from the rest of the private sector that has emerged from older firms that have been converted from SOEs （state-owned enterprises） or COEs （collectively-owned enterprises）. It is also a concept that stresses the highly innovative manner in which private firms have emerged in China. This paper will explore deeply the concept of raw entrepreneurship through three case studies as well as theoretical analysis based on traditional wisdom.
文摘In 2008, two governmental committees presented their conclusions on strengthening the role of the private building sector in building control. In 2011, three new studies were commissioned by the government to address perceived problems. One of them was an integral study, executed by ERB （Foundation Expertcentre Regulations in Building）, RIGO （Research Institute for Real Estate） and TNO （Research Institute for Applied Technologies）, to innovate the whole building regulations system. It led to proposals to redefine responsibility and liability for all parties. This study states that by an effort of yearly ￡100 million, unnecessary costs up to ￡l billion can be avoided and a real quality push will take place in the building and real estate markets. The goals to reach are to minimize the administrative burden for the building owner and to enforce the construction industry to build conforming to the regulations. This paper discusses the ERB study and the given proposals. The ERB study demonstrated that a quality push is needed which potential will lead to less costs for building owners. It also shows that proven solutions, part of the regulations, might be of help for all parties involved.
文摘Auto-Making Plan China is aiming to become an automaking powerhouse in a decade,boosting the development of newenergy vehicles(NEVs)and relaxing restrictions on foreign ownership.The strategy is to achieve breakthroughs in key technologies and increase the share of Chinese brands in the international auto market by 2025,according to an auto industry development plan released on April 25 by three government departments including the Ministry of Industry and Information Technology.
