Decrease In Price Research Articles

Time trends and regional variations in prices of anticancer medicines in China.

High prices, as a main factor, contributed to the lack of adequate access to essential anticancer medicines, especially for patients in developing countries. The Chinese Government has introduced a series of policies to control the prices of medicines during the last decade, but the effect on anticancer medicine is not yet clear. To evaluate the time trends and regional variation in the price of essential anticancer medicines in China, we used the procurement data of anticancer medicines from 2015 to 2022. We selected 29 anticancer medicines from the 2018 Chinese National Essential Medicines List. To measure the cost of a medicine, we used defined daily dose cost -the cost per defined daily doses. At national level, we focused on the price changes over time and compared the price between medicine categories. At provincial level, we assessed price variation among provinces over time. For prices at the national level, all 6 targeted medicines exhibited a continuous decrease trend in price. Out of 23 non-targeted medicines, 4 (17·39%) experienced continuous increases in prices, and 9 (39·13%) showed price decreases from 2015 to 2019 and then an upward trend during 2019-2022; Of the remaining non-targeted medicines, 7 (30·43%) had continuous price decreases and 3 (13.04%) had price increases followed by decreases. For prices at the provincial level, provincial price variation became smaller for almost all targeted medicines, except rituximab; for 11 out of 23 non-targeted medicines, provincial price variations became larger. During the study period, the proportion of price-increased medicines in each province was geographically correlated, and no significant relationship between prices and GDP per capita was observed for both targeted and non-targeted anticancer medicines. The prices and regional disparity of most targeted anticancer medicines were decreasing, while for nearly half of the non-targeted anticancer medicines, the prices were increasing and the regional disparity became wider, which may lead to compromised access to these essential anticancer medicines and raise inequity health outcome among regions.

Mobile phones and Mozambique farmers: Less asymmetric information and more trader competition?

We measure how the introduction of mobile phones in Mozambique affected unit values of household maize sales, maize producer prices and traders’ margins. Our estimations are based on both representative household surveys for the years 2002, 2003, 2005, 2006 and 2008, and weekly producer and market prices of white maize grain from July 1997 to December 2009 for 15 major producer markets. We find household sales unit values and producer price decreases, and traders’ margin increases between 14% and 22%, indicating benefits for traders. Next, we investigate heterogeneity of impacts in order to explore underlying mechanisms: impacts on margins decrease with population density and network density, and increase with gains from long-distance trade. Impacts on household selling prices are not significantly correlated with educational attainment, but the fall in prices is less with larger household wealth. Impacts on household selling prices and producer prices also become less negative over time, suggesting delayed adoption by farmers. Our results are robust to various threats.

Preharvest Applications of Aminoethoxivinylglycine in Mangifera indica L. “Ataulfo” Variety in Two Contrasting Environments

Mangifera indica var Ataulfo is the main variety grown in the Soconusco region of Chiapas, Mexico and faces a decrease in firmness and weight loss due to hydrothermal treatment, in addition to non-uniform ripening and consequently a decrease in price as the harvest period lengthens. In order to improve the postharvest quality of the “Ataulfo” mango fruit, preharvest applications of aminoethoxyvinylglycine (AVG; ReTain®, a.i. 15%) were carried out in “La Norteña” with Phaeozem soil, 1500 mm of annual precipitation, and applications of agrochemicals, and in “Santa Cecilia” with Acrisol soil, 2500 mm of annual precipitation, and without agrochemicals. The treatments were: (1) Control, (2) One application 7 days before harvest (0.1 g L−1), (3) Two applications (14 days and 7 days before harvest, 0.2 g L−1) and (4) Three applications (21, 14 and 7 days before harvest, in total 0.3 g L−1), with completely randomized design in the laboratory. The results show contrasting differences between the evaluation sites, with lower weight loss (18.4%) and 3.1% more firmness in a drier climate and higher soil calcium content. The average firmness (N) on day 14 was 18.3 and with three applications of AVG it was 22.0. The °Brix at the end of the study in the control was 11.3 and on average with AVG applications it was 14.4. Three-time applications of AVG in preharvest delayed the weight loss with an increase in the maintenance of the firmness of the fruits. The weight of the fruit epidermis was lower with AVG applications, and increased with the number of applications.

Oil and Food Prices in Bangladesh: A Linear and Non-Linear ARDL Analysis

Fluctuations in the oil price profoundly impact many other prices in the economy, as oil is used to produce numerous goods and services. While literature is ample regarding the linear relationship between crude oil prices and food prices, academic discussion on the presence of non-linear relationships is relatively evolving. This paper strives to explore the existence of both linear and non-linear relationships between crude oil price and food price in Bangladesh by employing the autoregressive distributed lag (ARDL) model and the non-linear autoregressive distributed lag (NARDL) model, respectively. The ARDL model indicates that the crude oil price has a linear and positive impact on food price inflation in Bangladesh. The NARDL model finds no asymmetric relationship between the two variables in the long run. As a result, in the long run, the response of food price inflation in Bangladesh is the same whether oil prices increase or decrease. However, the NARDL model reveals that the change in oil prices asymmetrically impacts food price inflation only in the short run. These findings are essential for further study, and the results can be used for policymaking to ensure food security in Bangladesh.

Profitability dynamics of offshore wind from auction to investment decision

Offshore wind auctions in Europe have recently seen considerable price decreases, with resulting support levels low enough to warrant the question whether project profitabilities are robust enough against changing market prices, or whether project suffer from low returns upon project realisation. This study investigates the development of profitability between auction date and Final Investment Decision, mainly through identifying impacts of changes in electricity prices, using stochastic discounted cash flow analysis. Some projects seem to have experienced adverse market developments. The study employs an explanatory-sequential approach to analyse two strategies to mitigate this risk: Pricing risks into the auction bid and absorbing losses through reduced returns or, alternatively, passing them down to contractors in the supply chain. The study finds indications that post-auction market developments have likely led to diminishing returns of developers, rather than increased price pressure on contractors. The study enhances the understanding of project profitabilities and developers’ choices between auction and investment decision, and therewith opens the discussion on post-auction industry dynamics as an increasingly relevant factor to ensure that offshore wind can live up to its envisaged role in the decarbonisation of society.

Determinants of perceived inflation in Algeria: an empirical study

This study aims to assess the determinants of inflation perception in Algeria. A survey of 32 items was held online on February 2022 where respondents were questioned about their perception for the last twelve months as well as their characteristics and behaviour. Collected data has been analysed using two Probit models. The results revealed that perceived inflation is affected by socio-demographic characteristics, especially age and education degree while knowledge about inflation rate doesn’t have a direct effect on it. Psychological factors also play an important role as price decrease awareness contribute to lower perceived inflation while individuals who doesn’t usually buy goods tend to report lower perceived inflation too. Atypical results have been found for consumer behaviour effect, as a more intensive search on internet translates in higher inflation perception while the use of cash card contributes to lower it. Finally, economic condition also plays an important role, as individuals with a kind of financial distress are more likely to report higher perceived inflation. Thus, perceived inflation in Algeria highly differs from official statistical rates due to many factors specific to each individual.

An Analysis of the Wool Characteristics That Determine the Wool Price for White Wool in South Africa

This study evaluates the effects of white wool's characteristics (fibre diameter/fineness, staple strength, vegetable matter, and staple length) that contribute to determining the wool price in South Africa. The analysis was based on wool price data for the 2009 to 2019 production seasons. A multiple regression analysis of the price (R/kg) of White wool was applied to four independent variables: fibre diameter/fineness, staple strength, vegetable matter and staple length. Fibre diameter, staple length and clean yield, except vegetable matter, made a significant contribution (p < 0.05) to the determination of wool price after all other independent variables were controlled. A one-unit increase in staple length was associated with a 0.018-unit increase in wool price (R/kg). One unit (micron) increase in fibre diameter/fineness resulted in a 0.331 unit decrease in wool price (R/kg). One unit (percentage) increase in clean yield resulted in a 0.115 unit increase in wool price (R/kg). The analysis found that a 1% increase in clean yield, a measure of the amount of clean, usable wool produced by a sheep, was associated with an average increase of 0.115 R/kg in the price of wool. This means that as clean yield increases, wool price tends to increase. Clean yield varies within sheep flocks due to varying amounts of wax and contaminants such as vegetable matter dirt, breed of sheep, and the environmental conditions during wool growth. There was no statistically significant association between vegetable matter and wool price. Wool farmers need to produce wool with low fibre diameter, good length of wool and high clean yield percentage for White wool. Additionally, farmers should focus on improving their production and marketing practices, and policymakers should consider implementing policies that support the wool industry and increase its competitiveness.

Uncertainty analysis of the electric vehicle potential for a household to enhance robustness in decision on the EV/V2H technologies

Electric vehicles (EVs) and vehicle-to-home (V2H) technologies are regarded as promising technologies for optimizing household energy management, particularly as valuable resources for optimizing the management of distributed photovoltaic (PV) generation. However, the potential of EVs and V2H for households is closely related to their usage behavior. As EVs and V2H technologies are big investments for a family, especially for families in rural area, their benefits for households need to be analyzed in an uncertain environment to obtain robust results and mitigate investment risks for households. To achieve this, this study builds a 7-parameter stochastic model to simulate random driving patterns and employs a mixed-integer linear programming model to derive the optimal solution for the household energy system. Subsequently, the potential value of EVs and V2H technologies for a household is assessed based on three key performance indicators: economic viability, carbon emissions reduction, and energy and power autonomy. The findings of this study demonstrate that the EV is a viable technology for significantly reducing household energy expenditures, lowering household carbon emissions, and enhancing household energy and power autonomy. Furthermore, the V2H technology can provide additional benefits by further reducing carbon emissions as well as increasing the autonomy of the household energy system. However, the impact of V2H technologies on household energy expenditures is limited. The above conclusions still hold when the EV travel behavior stochasticity is taken into account, but an unexpected finding is that EV travel behavior stochasticity has almost no effect on the economy and carbon emission indicators, while significantly affecting the autonomy of the household energy system. Further investigation uncovers that the external charging price plays a critical role in determining the potential of EV + V2H technology as both stationary and mobile energy storage for households. Additionally, it is observed that the impact of EV travel behavior stochasticity on household energy expenditures becomes pronounced as the external charging price decreases, which can assist families in making reasonable decisions on configuring emerging technologies, like EV and V2H.

Oil and Food Price Before and During COVID-19 Pandemic in Nigeria: A Non-Linear ARDL Approach

Abstract This paper analyzes the relationship between food and oil prices in Nigeria before and during the COVID-19 pandemic, using monthly data from January 2018 to December 2021. The ARDL and NARDL models are applied to estimate the symmetry and asymmetric relationship that exists in food price behavior. The NARDL confirms the presence of asymmetries, and the bound test affirms the co-integration and long-run relationship among the variables. In the long run, there is a significant positive relation between oil price increases and food prices, but the long-run impact of oil price reductions on food prices is not significant. In the short run, only increases in oil prices exert a significant influence on food prices, while decreases in oil prices do not. Furthermore, the COVID-19 period exerts a positive and significant impact on food prices, while COVID-19 cases do not influence food prices in Nigeria.

Forecasting using reference prices with exposure effect

AbstractReference prices (RPs) are consumers' subjective perceptions of prices that have important influences on purchase decisions. The standard RP formulation, which defines RP as an exponentially weighted average of past prices, ignores a certain asymmetry in weights between the regime of a price decrease and that of a price increase, which can be observed by the demand trend during the few days after a price decrease or increase. Such oversight usually leads to overestimation in demand as we illustrate by empirical evidence. We introduce the novel concept of RP with exposure effect (RPEE) that captures such asymmetry in RP formulation by imposing a weight proportional to how much the price is exposed to consumers. The exposure effect can be measured by clickstream data that are available for most e‐retailing platforms. We develop a customer behavioral model that can explain the formation of standard RP, and extend it in a natural way to provide foundation to the use of RPEE, especially for products with few repeat purchases. We then establish empirically the extensive benefit of forecasting from RPEE for e‐retailers that sell thousands of products. We demonstrate that RPEE exhibits significant and consistent improvement over standard RP for products, with around reduced weighted mean absolute percentage error.

The substantial impacts of carbon capture and storage technology policies on climate change mitigation pathways in China

Carbon capture and storage (CCS) technology, considered as a pivotal tool in mitigating climate change within the fossil energy system, particularly in China, has experienced slower development than expected. The exploration of direct incentive policies to facilitate its growth remains relatively underdeveloped. This study developed a hybrid dynamic computable general equilibrium (CGE) model to simulate the substantial impacts of CCS incentive policies on China within the context of carbon neutrality target. Two potential incentive policies, carbon emission trading system (ETS) and 45Q tax credit, were simulated, with different sectoral coverage. The results indicate that CCS technologies can reduce carbon emissions by 960 ∼ 1,604 MtCO2 annually by 2060 through the strategic implementation of these incentive policies. The 45Q tax credit demonstrates its effectiveness in promoting early-stage research and development (R&D) and demonstration of CCS, while the ETS policy facilitates the commercial development of CCS in the later stage of development. By 2060, the implementation of CCS incentive policies could potentially result in 7.7 ∼ 17.4 % reduction in China’s primary energy consumption, 71.2 ∼ 82.7 % decrease in the carbon price of ETS and 5.64 ∼ 6.59 % increase in the GDP compared with the no-policy scenario. In addition, the sectoral output in various sectors and the welfare of urban and rural households also increase. This paper provides an important reference for the realization of China’s carbon neutrality goal and the model framework can be applied to other countries.

Determinants of the competitiveness of world palm oil exports: A cointegration analysis

The purpose of this research is to determine the impact of international palm oil prices, prices of its substitute and complementary goods, and the exchange rate on the competitiveness of 30 palm oil exporting countries over the period from 2011 to 2019, using monthly data. The symmetric comparative advantage index was estimated, and a convergence effect was found, whereby emerging countries exhibited greater specialization than industrialized countries. Unit root and cointegration tests were applied, in addition to FMOLS and DOLS methods. The analysis revealed that decreases in palm and vegetable oil prices, coupled with an increase in the exchange rate and prices of soybeans and biodiesel, enhanced the competitiveness of palm oil exports.

The effect of the road rationing policy on housing prices: evidence from the odd-even policy in Jakarta

Purpose The purpose of this study is to examine the effects of the Odd-Even Road Rationing Policy (RRP) on housing prices in Jakarta, Indonesia. It aims to evaluate the net effect of the RRP on housing prices. Design/methodology/approach The study uses the monocentric model and employs the difference-in-differences (DD) method. Annual neighborhood-level housing price data is analyzed to assess the impact of the RRP on housing prices. Additionally, propensity score matching is used to address potential biases resulting from non-random policy assignments. Findings The results demonstrate that houses located within the RRP-restricted area experience a decrease in price that is relative to those in the control group. The findings indicate a decrease in housing prices ranging from 7.59% to 14.7% within the RRP-restricted area. This suggests that the positive impacts resulting from the RRP have not fully compensated for the restricted accessibility experienced by individuals who have limited behavioral changes. The study also confirms the significance of commuting costs in individuals' location decisions, aligning with predictions from urban economics models. Originality/value This study contributes to the literature by providing insights into the effects of a RRP on housing prices. It expands understanding beyond the immediate effects on traffic conditions and air pollution, which previous studies have primarily focused on. Furthermore, to the best of the authors’ knowledge, this research will be the first conducted to identify the impacts of RRP on housing prices in Indonesia.

When local and foreign investors meet the Chinese government's risk perception about COVID-19

This paper explores the nuanced extreme market responses exhibited by segmented domestic and foreign investors in reaction to state media coverage of the COVID-19 pandemic in China’s A-share and H-share markets. Our findings indicate that an extreme increase (or decrease) in this unexpected attention is likely to lead to an extreme increase (or decrease) in stock prices. Domestic investors show increased sensitivity to an abnormal decrease in state media attention, whereas foreign investors are more responsive to an increase in this attention. An extreme unexpected decline in state media coverage of the pandemic significantly influences extreme fluctuations in the A-share market’s trading volume. In contrast, an abnormal increase in state media coverage of the pandemic tends to extremely decrease the H-share market’s trading volume. In the early panic phase, domestic (foreign) investors tend to reach a consensus more on abnormal declines (increases) in state media reports on the pandemic.

A life cycle cost analysis of different shore power incentive policies on both shore and ship sides based on system dynamics and a Chinese port case.

Shore power (SP) is widely recognized as an efficient strategy for reducing air pollution in port areas. Unfortunately, the adoption of SP has been relatively low, resulting in limited emission reductions and financial losses. To address these challenges, this paper focuses on enhancing the utilization rate of SP, which is meaningful for emission control and environmental protection. This paper combines system dynamics with a study of the benefits of SP, which bridges the research gap to some extent. We propose a system dynamics model that assesses the impact of various incentive policies on the economic and environmental benefits of SP. The model considers the life cycle cost and comprises four subsystems. By conducting a case study on Nansha Port, we find that price subsidies are more effective than construction subsidies in overcoming economic barriers. Furthermore, we observe that the overall economic benefits only increase when the electricity price decreases. This is because lowering the electricity price enhances the profitability of ships without negatively affecting port revenue. Additionally, it is the proportion of the electricity price and service price that determines the overall economic benefits, rather than the SP price itself. Hence, it is recommended to provide preferential subsidies for the electricity price.

The Agro-Industrial Complex of the China and the Position of the State in the World Market

The PRC is integrated into various economic communities, which allows it to play a significant role in the world market in the production of not only industrial products, but also agricultural ones. The purpose of this article is to analyze the export-import policy and dynamics of mutual trade in agricultural products between the EAEU and China, as well as the capitalization structure of Chinese agro-industrial companies. The article examines the legal basis of the export-import agricultural policy of the PRC, analyzes the dynamics of export-import of agricultural products between the EAEU and China, presents the distribution of Chinese agro-industrial companies by type of business and the distribution of capital of Chinese agro-industrial companies. The study used methods of analysis and synthesis of the studied material based on statistical data from the OECD, the World Bank, the IMF, the UN FAO, FAPRI, as well as the ministries specialized in agriculture of the PRC and the Russian Federation from 2015 to 2022. According to the forecast for 2023, India, China, Africa and a number of Central Asian countries will experience a decrease in world prices for agricultural products. The main conclusion is that China will remain self-sufficient in major crops, although production growth will slow in the coming years

Mercury Systems: Debt? Equity? Cash on hand?

Research methodology This case was researched using publicly available sources, including Mercury Systems financial filings and press releases, news stories about the seasoned equity offering, financial information from Bloomberg and industry information from IBISWorld Industry Reports and articles related to seasoned/secondary equity offerings, intangible asset valuation and the use of revolving lines of credit. Quotes are taken from Mercury financial reports and press releases and express the (optimistic) opinions of company executives. Case overview/synopsis Mercury Systems, a technology company in the aerospace and defense industry, announced a six million share seasoned stock offering in June 2019. This resulted in a 6% stock price decrease. A stock price decrease is a typical event when a firm announces the issuance of new common shares, but with Mercury Systems, there were concerns about how much money the firm needed to fund its strategy of growth through acquisitions. If internally generated funds were not sufficient, should the firm issue debt or have another seasoned equity issue? Students will look at the objectives and success of the most recent seasoned equity issue, determine future funds needs and how the firm should finance these needs. Complexity academic level This case is appropriate for undergraduate and graduate students in corporate finance electives. Typically, topics such as seasoned equity offerings are not covered in introductory courses, so this is recommended for finance electives. Even in advanced finance courses, sometimes there is insufficient time to cover seasoned equity offerings.

The Effect of Asset Valuation Method, Auditor Quality, Characteristics of the Board Commissioners and Audit Committee on Stock price Synchronicity

Stock price synchronicity refers to the extent to which firm-specific information is absorbed in stock prices relative to market-wide information. If return variations are more synchronized with market information, then stock price synchronicity decreases which is indicating lower quality of financial reports. This research examines the effect of asset valuation methods, auditor quality, characteristics of the Board of Commissioners and the Audit Committee on the synchronicity of stock price of manufacturing companies listed on the Indonesia Stock Exchange in 2020-2022. A total of 490 observations were available for hypothesis testing. The results show that the quality of the auditor and the size of the Board of Commissioners have negative effects on stock price synchronicity. On the other hand, the asset valuation method, the independence of the Board of Commissioners and the Audit Committee have no effect on stock price synchronicity of. The practical contribution of this research is that companies need to consider hiring more commissioners and Big Four accounting firms to increase the credibility of financial reports.

The Relationship between Sustainability Reports Disclosure Level and Stock Price Crash Risk

This study examined the relationship between sustainability reports disclosure level and stock price crash risk, as its main goal is to answer the question “what is the relationship between the disclosure level of sustainability reports dimensions (economic, social, and environmental) and the stock price crash risk?” Using a sample of 20 companies listed in the Egyptian sustainability index EGX ESG from 2017 to 2022. The proposed model and hypotheses were analysed using structural equation modelling. The results indicated that there is a statistically significant negative relationship between the disclosure level of all sustainability reports dimensions (economic, social, and environment) and stock price crash risk, as the increase of the level of disclosure in any sector of sustainability reports (economic, social, and environmental) leads to a decrease in the stock price crash risk for the companies in the study sample. Keywords: Sustainability Reports Disclosure, Stock Price Crash Risk

Studi Komparatif: Harga Saham LQ45 Sebelum Dan Selama Masa Pandemi Covid-19

Research Aim: This study re-evaluates the impact of the COVID-19 pandemic on LQ45 stock prices Methods: Data from 2018-2021 are analyzed, with 2018-2019 representing pre-pandemic prices and 2020-2021 representing pandemic prices. Comparative analysis is conducted using average t-tests, with normality tests guiding the choice between paired sample t-tests and Wilcoxon signed-rank tests Findings: Data exhibited a non-normal distribution, revealing a significant 27% average decrease in LQ45 stock prices during the pandemic. This underscores the pandemic's substantial impact on stock prices, particularly within the LQ45 index Theoretical Contribution/Originality: This study corroborates earlier findings and provides empirical evidence of the significant difference in LQ45 stock prices before and during COVID-19, resolving previous inconsistencies Practitioner/Policy Implication: The COVID-19 pandemic negatively affects stock prices, signaling adversity to investors and prompting market reactions, leading to decreased stock values. The LQ45 index experienced a decline in share prices from 2020 to 2021, highlighting the pandemic's enduring impact on market dynamics Research Limitation: This study focuses solely on the COVID-19 impact on LQ45 stock prices using year-end closing prices. Future research could explore this influence further using monthly or quarterly stock data