• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.31-37
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• 2020

The purpose of this research study is to examine the stock market's response to terrorist attacks. The study uses data of terrorist attacks in different parts of the country (Pakistan) from June 1, 2014 to May 31, 2017. The event window procedure applies to a 16-day window in which 5 days before and 10 days after the attack. In addition, several event windows have been built to test the response of the Pakistan Stock Exchange. KSE-100 index is taken as proxy of response. The total terrorist attacks are classified into four categories: attacks on law enforcement agencies, attacks on civilians, attacks on special places and attacks on politicians, government employees and bureaucrats. The standard market model is used to estimate the abnormal return of the Pakistan Stock Exchange, which takes 252 business days each year. Furthermore, BMP test is used to check statistical significance of cumulative abnormal rate of return (CAAR). The results of this study reveal that total number of terrorist attacks and attacks on law enforcement agencies show long-term effects on Pakistan stock exchange. However, attacks on civilians, attacks on special places and attacks on politicians, government employees and bureaucrats have little effect on the Pakistan Stock Exchange.

• Communications for Statistical Applications and Methods
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• v.4 no.2
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• pp.589-610
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• 1997

When a modeling process is applied to an actual commodity market in the real world, interactions over closely related commodities through the marketing channel should also be formulated into the model to reflect the information that exists in the whole market system, otherwise unreliable estimates and test statistics may be produced by ignoring those effects. Single-equation type model in this case tends to yield inefficient estimates, and sometimes biased and inconsistent, which will mislead us. A system of equation method to examine the structure of the imported commodity market system is developed and its emtirical results are analyzed, then followed by some policy experiments and its implications.

• Journal of Distribution Science
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• v.12 no.12
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• pp.43-54
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• 2014

Purpose - This study examines how perceived benefits and costs of traditional market support affect relationship quality and support for a marketeer. In addition, it investigates whether support for traditional market aid programs leads to support for the government. The author developed a structural model comprising several variables, in which perceived benefits and costs comprising economic, social, and environmental costs were proposed, to affect the relationship quality (satisfaction and trust) of traditional market aid programs and the government. Consequently, marketeers satisfied and trusted by traditional market aid programs and the government would support the traditional market aid program, resulting in higher support for the government. The model proposed that customer satisfaction would improve customer loyalty and business performance. Thus, the relationship quality (satisfaction and trust) of the traditional market aid program and government was proposed as a core mediating variable between perceived benefits and costs and support. Research design, data, and methodology - To analyze the proposed model, this study investigates the scenario with a traditional marketeer. Data were collected from 331 respondents, and analyzed with SPSS/PC 18.0 and AMOS 18.0. To test the unidimensionality and nomological validity of the measures of each construct, we employed a scale refinement procedure. The result of the reliability test with Cronbach's and confirmatory factor analysis warranted unidimensionality of the measures for each construct. In addition, nomological validity of the measures was warranted from the result of correlation analysis. Results - First, perceived benefit affects the relationship quality of traditional market aid programs and government. Second, perceived costs affect the satisfaction of traditional market aid programs and government. Third, the relationship quality of a traditional market aid program affects the support of a traditional market aid program, and the relationship quality of government affects the support of government. Finally, the support of traditional market aid program affects support of government. The results confirm the findings of previous studies that local development positively influences support, based on the social exchange theory. Conclusions - The theoretical and managerial contributions of this study are as follows. First, it is the first such study, and defines mediating variables, analyzing relationship quality (satisfaction and trust) between perceived benefits and costs and support for the traditional market industry. Further, it investigates the structural relationships between them with the AMOS program. Second, while most previous studies investigating the relationship between similar variables and those of the present study analyzed how perceived benefits and costs influenced support, this study identified the transfer relationship between the support for traditional market programs and support for the government. This study confirms that support for traditional market aid program increases support for the government. Therefore, government policy makers for traditional market aid programs should explain to marketeers the benefits and costs of traditional market development in terms of economic, social, and environmental factors. At the end, limitations, further research directions, and implications are suggested.

• Journal of Distribution Science
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• v.10 no.11
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• pp.71-77
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• 2012

Purpose - This study examined marketing communication in traditional markets by assessing consumers demonstrating brand loyalty through repeat purchases despite active marketing by competing brands hence, showing that the brand did not lose customers owing to communication. Specifically, this study examined the effects of marketing communication factors in traditional markets upon consumers' store loyalty and to determine consumers' practical and hedonic values, as moderating variables. Moreover, this study determined that both experienced and inexperienced consumers in traditional markets could similarly assess the market and examined the outcome of traditional market development as well as future strategies. Research design, data, methodology - To verify the relationship between marketing communication and store loyalty, and the moderating effects of shopping value, data were collected from 230 consumers in the Gyeonggi Province to test the theoretical model and its hypotheses. Although the field of distribution management typically uses two research methodologies, this study was conducted using empirical methodology. Specifically, analysis of variance and hierarchical regression analysis were used to test the hypotheses. Results - Consumers who had experienced the traditional market placed a greater emphasis on the physical environment or word-of-mouth marketing. Moreover, other factors apart from advertising had a significantly positive influence upon marketing communication sub-factors and store loyalty. Word-of-mouth marketing was found to be more important than other factors, therefore affirmative word-of-mouth marketing was considered important from various viewpoints. The study investigated the moderating effects of hedonic value and practical use value in the relationship between marketing communication sub-factors and store loyalty: The negative influence of publicity, physical environment, and word-of-mouth marketing was considered to be statistically significant. Conclusions - Consumers who made use of the traditional market did not think of the physical environment in an affirmative way, and consumers who did not make use of the traditional market perceived it as having a poor physical environment. However, consumers who engaged in word-of-mouth marketing experienced the traditional market in an affirmative way. Consumers who made use of the traditional market had significantly high hedonic value and/or practical use value, therefore future strategies should encourage consumers to make more use of the traditional market. Consumers who had experienced the traditional market demonstrated strong market loyalty. For consumers who did not make use of the traditional market, marketing communication was likely to influence store loyalty in a different manner from a practical perspective. In other words, marketing communication was needed to develop the traditional market, and consumers who did not make use of the traditional market should be given the opportunity to do so. Consumers having low hedonic values experienced high publicity to have high store loyalty, and consumers who experienced good facilities of the traditional market had high store loyalty (Nam & Jun, 2011). Consumers with low hedonic values as well as those with high hedonic values on the traditional market could have high store loyalty through affirmative word-of-mouth marketing.Therefore, various types of events and strategies were needed to enable consumers to experience the traditional market in an affirmative way.

• Journal of Animal Science and Technology
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• v.58 no.9
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• pp.35.1-35.10
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• 2016

Background: The aim of this work was the comparison between the carcass and the meat ewes of the regional Traditional market and the Islamic religious (Halal) market. Methods: Thirty and 20 at the end of career traditional market and Halal market ewes were slaughtered following the EC (European Council, 2009) animal welfare guidelines. Live weight of ewes was taken and dressing percentage of carcasses was calculated. On every carcass zoometric measurement and the evaluation trough the EU grid rules were performed. On the Musculus longissimus thoracis of 12 Traditional market carcasses and 11 Halal market carcasses the physical-chemical and nutritional analysis were performed. Consumer tests for liking meat ewe were performed in order to find consumer's preference level for Traditional and Halal markets ewe meat. Considering as fixed factor the ewe meat market (Traditional and Halal), results were submitted to oneway Analysis of Variance (ANOVA) and to Principal Component Analysis (PCA). Results: The Halal market ewes have shown lower dressing percentages ($42.91{\pm}0.82$ vs $46.42{\pm}0.69$) and lower conformation score ($4.5{\pm}0.5$ vs $7.8{\pm}0.4$). The Halal market meat showed higher cooking loss in oven ($37.83{\pm}1.20$ vs $32.03{\pm}1.15%$), lesser Chroma value ($18.63{\pm}0.70$ vs $21.84{\pm}0.67$), and lesser Hue angle value ($0.26{\pm}0.02$ vs $0.34{\pm}0.02$). This product had also lower fat percentage ($4.2{\pm}0.4$ vs $7.09{\pm}0.4$). The traditional market meat had higher percentage in monounsatured fatty acids (MUFA) ($43.84{\pm}1.05$ vs $38.22{\pm}1.10$), while the Halal market meat had higher percentage in ${\omega}3$ poliunsatured fatty acids (PUFA) ($5.04{\pm}0.42$ vs $3.60{\pm}0.40$). The consumer test showed as the ewe meat was appreciate by the consumers. Conclusions: Both meat typologies have shown good nutritional characteristics. The traditional market meat had higher MUFA composition, and a better MUFA/satured fatty acids (SFA) ratio, while the Halal market meat had higher PUFA composition. These results were also supported by the PCA. The consumers preferred the traditional market meat.

• Asian Journal of Innovation and Policy
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• v.4 no.2
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• pp.200-216
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• 2015

This paper empirically investigates the role of R&D intensity on market concentration of firms using four key market valuation variables, namely (1) market share, (2) labor intensity, (3) firm age and, (4) firm's market value. The empirical tests use database at firm level for the Indian IT sector from 1999 to 2013 from the CMIE Prowess database. The results of the regression analyses partially support our hypothesis that R&D intensity positively influences firm's market value measure by the H-index. The test results are consistent with the hypotheses that R&D spending is more valuable for firms with larger market shares, higher labor intensity, and firms that are diversified.

• Journal of Families and Better Life
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• v.26 no.1
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• pp.15-29
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• 2008

The study examined the characteristics of internet shopping mall sites including on-line market places and integrated internet stores from a perspective of consumer protection. Specifically, the study investigated 1) whether sufficient information is provided on the internet shopping mall sites, 2) whether shopping mall sites abide by internet advertising principles, and 3) specific examples of consumer misleading potentialities from internet shopping sites. Further, on-line market places and integrated internet stores were compared based on their informativeness and potential consumer misleading factors. Total 50 shopping mall sites were analyzed for examining the types of information provided and consumer misleading factors. To verify study questions, descriptive statistics were used. For comparison between on-line market places and integrated internet stores, Chi-square test and independent-sample t-test were employed. The results of this study were as the following: First, not a few of the internet shopping mall sites did not provided important information such as safety and warrantees. Second, important disclosures were not noticeable on the web pages and distracting factors were frequently used. Third, integrated internet stores were desirable compared to on-line marketplaces based on informativeness and consumer misleading potentialities. As the result of this study, internet shopping malls need to advised to provide sufficient information and reduce potential misleading factors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.781-790
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• 2021

The purpose of this study is to test empirically the effect of Islamic business ethics and market conditions on organizational performance in state-owned construction companies in Indonesia. Data collection in this study was conducted online and the total number of data used was 81 respondents, both directors, heads of departments, and managers (general and project). This study uses a partial least squares structural equation model (PLS-SEM) with a quantitative approach that aims to test hypotheses and relationships between variables, such as Islamic business ethics, market conditions, project management, organizational culture, competitive strategy, and organizational performance. This study shows Islamic business ethics has a significant direct effect on organizational performance. Market conditions do not have a direct significant effect on organizational performance. Meanwhile, the mediating variables of project management and competitive strategy have a significant direct effect on organizational performance. Organizational culture does not have a significant influence on organizational performance. Conversely, market conditions have a significant influence through the mediating variables of project management and competitive strategy on organizational performance. Besides, this study is an attempt to determine the impact of the criteria factors affecting the measurement of the performance of construction organizations in Indonesia in terms of the external environment and organizational structure.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.51-59
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• 2020

The objective of this study is to enrich the literature by investigating the impact of introduction of index future trading on spot market returns and trading volume in Vietnam. Data used in this study mainly consist of daily VN30-Index and market trading volume series during the period from February 6^th, 2012 to December 31^st, 2019. Using OLS, GARCH(1,1) and EGARCH(1,1) models, the empirical findings consistently confirm that the introduction of index future trading has no impact on the spot market returns. In addition, the results of the EGARCH(1,1) model indicate that the leverage effect on the spot market volatility is existence in HOSE. Specifically, bad news has a greater effect on the market volatility than good news of the same size. Moreover, our empirical findings reveal that the introduction of index future contracts has the positive impact on the underlying market trading volume. Specifically, the trading volume of the post-index futures introduction increases by 7.5 percent compared with the pre-index futures introduction. Finally, the results obtained from the Granger causality test for the relationship between the spot market returns and the future trading activity confirm that only uni-directional causality running from the market returns to the future trading activity exists in HOSE.

• Information Systems Review
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• v.3 no.1
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• pp.3-18
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• 2001

The Internet is taking up every single life of us with a huge speed of growth. If the ideal market called 'perfect competition' in economics will ever come true in this digital world, the sellers won't be able to have monopolistic profits above the marginal cost any more, letting the resource allocation much more efficient. This paper attempts to test whether this theory is true in e-market as well through observing price differences between online and offline retailers of extremely homogeneous products, CDs. Since most results from previous research were supporting the inefficiency of e-market in price level, price adjustment, and especially price dispersion, this article designed the research methodology most carefully. The results of pervious works are partly due to the immaturity of the Internet market or due to the uniqueness of the American CD market, where oligopolistic market players are significantly dominant. The analysis of price data of 20 titles from 20 retailers for five weeks supports that online market is more efficient than offline market with statistical significance in all the three dimensions. We could conclude that the e-market is going much more efficient at least compared to the offline market and the more would it be unless the sellers resist and prevent comparison-shopping.