This paper investigates empirically the effect of different types of product market competition on levels of voluntary disclosure of proprietary information in financial markets. The author proposes that there are two...This paper investigates empirically the effect of different types of product market competition on levels of voluntary disclosure of proprietary information in financial markets. The author proposes that there are two types of strategic interaction settings relevant to disclosure： capacity competition and price competition. Capacity competition drives firms to disclose more information to attain financial market valuation-related benefits, while price competition drives them to disclose less to protect long-term product market advantages. The author finds that the type of product market competition affects the level of voluntary disclosure over and above the finn＇s external financing needs documented in the previous literature. That is, firms engaged in capacity competition disclose relatively more information than those in price competition. Further analysis shows that capacity competition firms disclose more information than no-strategic-interaction benchmark firms but that price competition firms do not disclose less information than the benchmark firms.展开更多
The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, for it allow to determine whether a given industry is competitive or not. Usually, the perfect com...The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, for it allow to determine whether a given industry is competitive or not. Usually, the perfect competition model is the reference to judge the efficiency of markets. However, there is enough empirical evidence that shows that one of the most evident features of global firms is that both their size and market are Zipf-distributed. In this paper, we show that the distribution of market shares in the world cola-drink market is skewed, but it does not follow Zipf＇s law, thus it is inadequate to generalize it to any kind of market.展开更多
Cultivating innovative tourism talents is critical in ceramic tourist industry, the reason for which is that the core of the market competition is the competition of talents. In recent years, the deficiency of excelle...Cultivating innovative tourism talents is critical in ceramic tourist industry, the reason for which is that the core of the market competition is the competition of talents. In recent years, the deficiency of excellent tourism talents has become the bottleneck to restrict the development of ceramic tourism industry in Jingdezhen. In order to solve the difficulty, for the investigation on the status of ceramic tourism talents, the paper analyzes the existing problems and observes the strategies and ideas of constructing innovative ceramic tourism talents.展开更多
The topic investigated competition in marketing as a survival yardstick for small and medium enterprises （SMEs） in Nigeria. The objectives addressed by this study were： （1） identifying different types and intensi...The topic investigated competition in marketing as a survival yardstick for small and medium enterprises （SMEs） in Nigeria. The objectives addressed by this study were： （1） identifying different types and intensity of competition that SMEs are exposed to along the life-cycle portfolio in Nigeria; （2） quantifying the strength of SMEs vis-a-vis some foreign enterprises in terms of market competition; and （3） proffering solutions on how best they could match competitively these foreign enterprises. Relevant models and theories were employed in literature to evolve detailed analysis of issues relating to the variables used in terms of competition in marketing and survival of juice-producing SMEs. Two hypotheses were investigated through the survey of 20 prominent Ikeja based SMEs using Cluster sampling, 5-points Likert summated rating scale was adopted, while Yard＇s formula with 95% confidence level and 5% error tolerance was used. Alternative form validity of the instrument was measured at 0.63 while its reliability was measured at Cronbach＇s alpha of 0.70. Pearson＇s product-moment correlation was used in testing hypothesis 1 while standard multiple regressions were used to test hypothesis 2. Findings revealed that there was strong relationship between survival of juice-producing SMEs with forms of competition on a firm＇s life-cycle; while competition had positive effects on survival components for the enterprises. It was concluded that since competition subsists in any firm＇s life-cycle, strategies to support operations for survival must be adopted. It was recommended that operators of SMEs have to monitor and manage competition as it affects their businesses positively and/or negatively.展开更多
Growth, innovation, and strategic focus are vital for long-term success of multinational corporations （MNCs）. MNCs must create the organizational culture and process for increased competitiveness to sustain better m...Growth, innovation, and strategic focus are vital for long-term success of multinational corporations （MNCs）. MNCs must create the organizational culture and process for increased competitiveness to sustain better market shares and profits. Towards this end, MNCs should develop a comprehensive innovation strategy. Innovation is a way of life and the spirit of innovation, like the spirit of entrepreneurship, must be sustained. The goal should be continuous growth with competitiveness. And towards this purpose, organizations must innovate. The article draws from innovation concepts as they would lead to organizational growth and competitiveness. MNC international structure, culture, and leadership style have an influence on the innovation culture and creativity process in the MNC organization. The article sets forth a model for MNC decision-making structure and organizational culture for facilitating the innovative fervor and capability to be more favorable to the MNC. The models presented here are meaningful in the quest for greater MNC innovativeness and creativity.展开更多
This paper attempts to develop a theoretical framework to investigate the competitive implications of quality choices of financial institutions whereby they charge prices to consumers based on their willingness to pay...This paper attempts to develop a theoretical framework to investigate the competitive implications of quality choices of financial institutions whereby they charge prices to consumers based on their willingness to pay for the service qualities in the mixed market scenario under vertical product differentiation model. Initially, it analyzes benchmark equilibrium solutions of monopoly and duopoly to establish the degree of quality differentiation between two private banks in an uncover market configuration. Further, it estimates the quality differentiation between private and public banks, and examines the interaction between two market structures keeping public bank as both leader and follower, and then measures the social welfare from different prospectives. The explicit operation of two stages Nash equilibrium game forecasted that public banks＇ monopoly seems to be still better than a private banking, and it is socially optimal. The outcome demonstrates a significant importance of vertical quality differentiation for policy implication in banking industry and provides an insight on the reasons of particular co-existence of public and private banking services in the specified location. In this context, it is concluded that the presence of public banks in banking industries is a crucial condition for obtaining the higher range of social welfare.展开更多
文摘This paper investigates empirically the effect of different types of product market competition on levels of voluntary disclosure of proprietary information in financial markets. The author proposes that there are two types of strategic interaction settings relevant to disclosure： capacity competition and price competition. Capacity competition drives firms to disclose more information to attain financial market valuation-related benefits, while price competition drives them to disclose less to protect long-term product market advantages. The author finds that the type of product market competition affects the level of voluntary disclosure over and above the finn＇s external financing needs documented in the previous literature. That is, firms engaged in capacity competition disclose relatively more information than those in price competition. Further analysis shows that capacity competition firms disclose more information than no-strategic-interaction benchmark firms but that price competition firms do not disclose less information than the benchmark firms.
文摘The distribution of market shares within an industry is a relevant performance measure for managers and policy makers, for it allow to determine whether a given industry is competitive or not. Usually, the perfect competition model is the reference to judge the efficiency of markets. However, there is enough empirical evidence that shows that one of the most evident features of global firms is that both their size and market are Zipf-distributed. In this paper, we show that the distribution of market shares in the world cola-drink market is skewed, but it does not follow Zipf＇s law, thus it is inadequate to generalize it to any kind of market.
文摘Cultivating innovative tourism talents is critical in ceramic tourist industry, the reason for which is that the core of the market competition is the competition of talents. In recent years, the deficiency of excellent tourism talents has become the bottleneck to restrict the development of ceramic tourism industry in Jingdezhen. In order to solve the difficulty, for the investigation on the status of ceramic tourism talents, the paper analyzes the existing problems and observes the strategies and ideas of constructing innovative ceramic tourism talents.
文摘The topic investigated competition in marketing as a survival yardstick for small and medium enterprises （SMEs） in Nigeria. The objectives addressed by this study were： （1） identifying different types and intensity of competition that SMEs are exposed to along the life-cycle portfolio in Nigeria; （2） quantifying the strength of SMEs vis-a-vis some foreign enterprises in terms of market competition; and （3） proffering solutions on how best they could match competitively these foreign enterprises. Relevant models and theories were employed in literature to evolve detailed analysis of issues relating to the variables used in terms of competition in marketing and survival of juice-producing SMEs. Two hypotheses were investigated through the survey of 20 prominent Ikeja based SMEs using Cluster sampling, 5-points Likert summated rating scale was adopted, while Yard＇s formula with 95% confidence level and 5% error tolerance was used. Alternative form validity of the instrument was measured at 0.63 while its reliability was measured at Cronbach＇s alpha of 0.70. Pearson＇s product-moment correlation was used in testing hypothesis 1 while standard multiple regressions were used to test hypothesis 2. Findings revealed that there was strong relationship between survival of juice-producing SMEs with forms of competition on a firm＇s life-cycle; while competition had positive effects on survival components for the enterprises. It was concluded that since competition subsists in any firm＇s life-cycle, strategies to support operations for survival must be adopted. It was recommended that operators of SMEs have to monitor and manage competition as it affects their businesses positively and/or negatively.
文摘Growth, innovation, and strategic focus are vital for long-term success of multinational corporations （MNCs）. MNCs must create the organizational culture and process for increased competitiveness to sustain better market shares and profits. Towards this end, MNCs should develop a comprehensive innovation strategy. Innovation is a way of life and the spirit of innovation, like the spirit of entrepreneurship, must be sustained. The goal should be continuous growth with competitiveness. And towards this purpose, organizations must innovate. The article draws from innovation concepts as they would lead to organizational growth and competitiveness. MNC international structure, culture, and leadership style have an influence on the innovation culture and creativity process in the MNC organization. The article sets forth a model for MNC decision-making structure and organizational culture for facilitating the innovative fervor and capability to be more favorable to the MNC. The models presented here are meaningful in the quest for greater MNC innovativeness and creativity.
文摘This paper attempts to develop a theoretical framework to investigate the competitive implications of quality choices of financial institutions whereby they charge prices to consumers based on their willingness to pay for the service qualities in the mixed market scenario under vertical product differentiation model. Initially, it analyzes benchmark equilibrium solutions of monopoly and duopoly to establish the degree of quality differentiation between two private banks in an uncover market configuration. Further, it estimates the quality differentiation between private and public banks, and examines the interaction between two market structures keeping public bank as both leader and follower, and then measures the social welfare from different prospectives. The explicit operation of two stages Nash equilibrium game forecasted that public banks＇ monopoly seems to be still better than a private banking, and it is socially optimal. The outcome demonstrates a significant importance of vertical quality differentiation for policy implication in banking industry and provides an insight on the reasons of particular co-existence of public and private banking services in the specified location. In this context, it is concluded that the presence of public banks in banking industries is a crucial condition for obtaining the higher range of social welfare.
