International Market Research Articles

Pemetaan Moluska Komoditas Ekspor dan Impor Melalui Balai Besar KIPM Jakarta I

Indonesia has high biodiversity and it has the opportunity to expand as fisheries business in the international commodity market. The research aims to analyze the diversity of mollusk species, map the distribution, and analyze the sustainability of these commodities in the Indonesian export and import markets. The research conducted at the Jakarta I Fish Quarantine Center for Quality Control and Safety of Fishery Products (BBKIPM) on January to February 2023. The data used comes from data available at BBKIPM Jakarta 1 on 2021 to 2022 periods. The method used is descriptive quantitative analysis. The results showed that mollusk commodities traded in exports were more diverse than imported mollusks. The most commodity classes are pelecypod (35 species), gastropods (12 species) and cephalopods (12 species). The total number of exported mollusk commodities (4,823,969.879 kg) is higher than imports (7,281.04 kg) on 2021 to 2022 periods. Mollusk exports from Indonesia spread to 44 countries on 2021 to 2022 periods. Meanwhile, mollusk imports to Indonesia only came from 2 countries (2021) and either from 1 country (2022).

Modeling the response of sesame (Sesamum indicum L.) to different soil fertility levels under rain-fed conditions in the semi-arid areas of western Tigray, Ethiopia

Sesame, a crucial oilseed crop in Ethiopia, ranks second only to coffee in its importance as an exported agricultural commodity. However, inadequate soil fertility management has hampered its productivity despite its substantial international market demand. Hence, this study was conducted to model the response of sesame to different nitrogen fertilizer levels using the AquaCrop model, and to assess the capability of the model as a decision-support tool for optimizing soil fertility management strategies in the study area. The experiment was laid out in a randomized complete block design, consisting of four nitrogen fertilizer rates (0, 23, 46, and 69 kg/ha nitrogen) and three distinct sesame varieties (Setit-1, Setit-2, and Humera-1). Over the course of the three cropping seasons, data on soil physical and chemical properties, crop growth, yield and yield components were collected for each treatment. Evaluation of model performance relied upon established metrics of coefficient of determination (R2), root mean square error (RMSE), normalized root mean square error (N-RMSE), model efficiency (E), and degree of agreement (D). Analysis of results revealed the AquaCrop model appropriately calibrated for simulation of soil water content, showing R2 values ranging from 0.92 to 0.98, RMSE values varying from 6.5 to 13.9 mm, E values from 0.78 to 0.94, and D values from 0.95 to 0.99. Similarly, simulation outputs for aboveground biomass (AB) demonstrated good accuracy of the model, with R2 values varying from 0.92 to 0.98, RMSE values ranging from 0.33 to 0.54 tons/ha, and D values from 0.9 to 0.98. Notable accuracy was also observed in the simulation of canopy cover (CC), revealing R2 values between 0.95 and 0.99, and RMSE values ranging from 5.3 to 8.6 %. In conclusion, this study substantiates the successful calibration and validation of the AquaCrop model for predicting sesame response to diverse nitrogen fertilizer levels. The performance of the model in predicting soil water content, CC, AB, and yield highlights its potential as a valuable tool for optimizing soil fertility management and enhancing sesame cultivation practices in Ethiopia.

ARE FUND MANAGERS SKILLED OR IS IT SIMPLY LUCK? A CASE OF ENERGY MUTUAL FUNDS

Fund managers often tout that the performance of the funds they manage is due to their wisdom and management skills. The success in convincing the investors to this notion enables them to claim a higher salary and perks for themselves and charge a hefty or premium fee from the investors for the company they work for. However, changes in government policies, as well as in domestic and international market conditions, often influence the performance of the funds they manage. Suppose investors are not aware of this phenomenon. In that case, they may end up unnecessarily paying a hefty fee to the fund managers and investing in the wrong stock or mutual fund thereby suffering a loss in terms of the return on investment and capital loss. So, the investors must know whether the performance of any funds is due to the wisdom or skills of the fund managers or simply due to some exogenous factors beyond their control, which, in this study, we call luck. In this study, we apply the so-called Fama and French's bootstrap simulation method to determine whether the observed value of alpha – a measure of the fund’s performance – is due to fund managers’ skill or simply luck using data on monthly returns of the fifteen Equity Energy mutual funds from January 2024 through June 2019. This method involves computing a distribution of t(alpha) estimates of actual fund returns and comparing it to the performance of a cloned population of lucky funds with their true alphas set to zero. If actual funds produce higher values of t (alpha)s than the cloned population of lucky funds, then fund managers do have the skill. This distinction between skill and luck is crucial, as funds can do well or poorly by luck. Our study shows that funds can produce extreme alpha values just by luck, even if the fund's true alpha is zero. This implies that long-term investors are better off holding market portfolio ETFs and earning market return rather than paying more in fees and overall costs in attempts to beat the market. JEL classification: G1

Delving into the Architecture of International B2B Relationship Marketing During the COVID-19 Pandemic: From Business Convergence to Partnership Effectiveness

ABSTRACT Purpose The study seeks to address the influence of different facets of business-to-business (B2B) relationship marketing on internationalization effectiveness, by taking into account the turbulent environment generated by the COVID-19 pandemic. The focus falls on the factors that generate, frame, catalyze, sustain and strengthen international business relationships between managers from organizations with converging interests. Methodology B2B relationship marketing in the international arena is analyzed by means of various angles such as business convergence, business context, interpersonal compatibility, business credibility and network interconnections as availed by the “new normal” triggered by the COVID-19 pandemic. A questionnaire-based survey with 158 business owners and managers from European industrial companies was carried out during November 2023 to investigate the configuration and dynamics of B2B relationship marketing in the unprecedented and systemic COVID-19 crisis. Data was analyzed via structural equation modeling using SmartPLS 4. Findings The findings showed that while business convergence remains a strong influencer of all the other relational dimensions, the restrictions and limitations engendered by the pandemic have also altered international B2B relationship marketing to such an extent that the only significant factor for internationalization effectiveness relies on business networking. Research and practical implications The study has both theoretical and practical implications, bringing forward a topical perspective on international B2B relationships during COVID-19 disruptions and their impact on the effectiveness of international operations. Originality The study advances a phenomenological view of the unprecedented changes and their influences on the overseas operations of SMEs in a particular field. It complements and adds to the literature by stressing a more articulated relationship-centric architecture, which probed relevance during the pandemic.

National climate legislation and policymaking and energy security: International evidence

With the shift towards low-carbon economies, energy security has emerged as an increasingly vital concern for governments worldwide, particularly in recent years, because of ongoing conflicts and increased volatility in the international energy market. Both laws and policies are essential tools for mitigating climate change challenges; however, its role in energy security remains unexplored. Drawing on climate-related legislative activities in 127 countries from 2000 to 2021, this study examines the short- and long-term impact of climate laws and policies on energy security performance (ESP). The empirical results demonstrate that both recent and longstanding climate laws and policies have enhanced the national ESP on a global scale. Furthermore, we find that laws outperform policies regarding energy security improvement. Additional analyses indicate that the impact of climate laws and policies on ESP is more effective across high- and upper-middle-income countries, and less effective in low-income countries, especially those in Africa. Our findings highlight the significance of climate legislative efforts and provide important implications for global governments in securing their green transition.

Shift-share of the international market for energy forest products

The increase in fossil fuel prices and the growing demand for clean energy has encouraged the consumption of forest biomass for energy around the world. The distribution of production factors for forest products is not homogeneous across space and the specific market characteristics of each country influence the bioenergy potential. Thus, this article analyzed the structural-differential composition (shift-share) of the international market for energy forest products (EFP) between 2000 and 2020. The data are available from the Food and Agriculture Organization. The EFP consists of firewood, charcoal, wood chips, wood waste, pellets and other agglomerates. Conducted a standard structural-differential analysis (shift-share) over the period 2000–2020, then extended it by applying the Esteban-Marquillas variation. North America, Australia and Europe led in terms of the share of countries with positive effects. Charcoal and firewood were the products most used in energy production. The countries with the greatest positive structural effect were the United States (16 × 106), Canada (7 × 106), Japan (7 × 106), Finland (6 × 106), and France (5 × 106). The countries with the greatest positive differential effect were Myanmar (38 × 106), China (36 × 106), Ghana (20 × 106), Ethiopia (20 × 106), and Congo (18 × 106). From 2000–2020, 29 countries demonstrated a specialized competitive advantage (SCA), 51 countries demonstrated a non-specialized competitive advantage (NSCA), 39 countries demonstrated a non-specialized disadvantage (NSD) and 48 countries demonstrated a specialized competitive disadvantage (SCD). With these results it was possible to note that the increase in oil, gas and electricity prices has encouraged the consumption of EFPs worldwide. Hybrid industries (oil/gas/pellets) increased forest biomass consumption in the period 2000–2020. The dynamics of EFP consumption worldwide have been driven by increased demand from competitive and specialized countries.

An assessment of employee discern for internal marketing strategies in software export companies

The enormous progression of the communication and technology sector in post economic transformation, specifically in software and service exports, has had an impact on India's economic growth. Companies in the software business are constantly driven to deliver better service as customer expectations continue to rise. For success in the marketplace, businesses must integrate their offerings and differentiate themselves. The research intends to assess employees' insights into internal marketing strategies deployed by software export companies that serve customers and evaluate the effect of employees’ demographics on the company's internal marketing initiatives. The results reveal that the respondents have a significant impression of the eight identified dimensions related to internal marketing strategies, and the demographics also show a significant association with the internal marketing initiatives of software export companies. The outcomes of the research could assist management in strengthening their internal marketing processes and developing key initiatives to better serve customers.

Case Study Manufacture of Cotton Polo Shirts and Jumpers

Objective: Explore the manufacturing process of tangüis cotton polo shirts and jumpers from a Peruvian textile company to optimize the process and obtain quality products that can compete in the international market. Theoretical Framework: The forecast demand and forecast control, the required and available capacity of workers and machines for the production process, the aggregate planning of the required workforce, the master production program, and the disaggregation of material requirements with the calculation of the corresponding lead-times. Method: Basic and applied hypothetical case study, transversal and exploratory, non-experimental, where the production process of cotton polo shirts and jumpers is simulated in one year considering their seasonality. Results and Discussion: Proposal for the demand estimation, forecast control, the required and available capacity of workers and machines necessary for the production process, the aggregate planning of the required workforce, the master production program, and the disaggregation of materials with the calculation of the corresponding lead-times. Research Implications: Be able to replicate the case in real situations of companies focused on textile manufacturing to determine their real estimations and propose proposals for continuous improvement. Originality/Value: The contribution to the literature of a case study that can be replicated to the reality of companies oriented to textile manufacturing to optimize their processes and contribute with their proposals for continuous improvement.

Enhancing Canada’s Beef Exports and Competitiveness in the Global Market

Alberta reports the highest revenues among all provinces in beef cattle ranching and farming,but there is still considerable potential to maximize profits by expanding international trade.In 2022, Canada exported 0.78 million head of cattle and 430,000 metric tonnes of beef, for atotal trade value of C$5.2 billion. That same year, Canada ranked eighth globally in the volumeof beef exports, sixth in the value of beef exports and fourth in the aggregate value of live cattleand beef exports.This study aims to provide a policy brief on Canada’s beef and cattle production and exports,and international market access and conditions. Trade barriers are identified and evaluated, andthe implications of non-tariff measures (NTMs) are examined. These include, for example, the banimposed by the European Union and the United Kingdom on the importation of peroxyacetic acid(PAA)-treated and hormone-treated beef, and the United States’ political/legislative attemptsto invoke the mandatory country-of-origin labelling (CoOL) standard for Canada’s beef exports.This study also discusses the benefits and limitations of preferential trade agreements (PTAs) forCanada’s beef exports, such as the Canada-U.S.-Mexico Agreement (CUSMA); the Canada-EUComprehensive Economic and Trade Agreement (CETA); and the Comprehensive and ProgressiveAgreement for Trans-Pacific Partnership (CPTPP). The study concludes by exploring theopportunities to increase Canada’s beef exports and competitiveness in international markets.The analysis indicates that the Canadian cattle/beef sector would benefit from pursuing generalstrategies to increase its competitiveness in foreign markets by promoting its beef, raisingproduction efficiency and reducing production costs, tackling labour shortages, alleviatingregulatory constraints and integrating novel technologies in beef production and processing.The Canadian cattle/beef sector must increase its competitiveness in international markets anddiversify export destinations while maintaining access to the U.S. market. Canada is a major playerglobally, but it needs to increase its competitiveness in, for example, China, Japan, South Korea,Saudi Arabia, Vietnam, Taiwan and the United Arab Emirates as these markets currently relyheavily on beef imports from Australia, Brazil and the U.S., among other countries.It would be critical to encompass strategies tailored to the market characteristics/conditions ofdestination countries, raise the effectiveness of PTAs and stimulate bilateral business/marketingnetworks. This study emphasizes the importance of sustaining market access to the U.S.,enhancing market access to other foreign countries and pursuing pronounced diversificationstrategies in beef exports to mitigate risks and uncertainties in international markets. It alsounderlines the basic requirement of raising competitiveness vis-à-vis other beef-exportingcountries in various international markets. In this context, trade preferences may not necessarilylead to significant increases in Canada’s beef exports to foreign markets when preferential accessis more pronounced for beef exported from other countries. Also, cost reductions should berelatively significant to effectively compete with other beef-exporting countries and realizeincreases in Canada’s beef exports to international markets.

The role of food trade in the European Single Market in the years 2000-2022

The role of food trade in the European Single Market in the years 2000-2022

Parent-Only Balance Sheet Information and Credit Risk Assessments

SYNOPSIS General-purpose financial statements prepared under GAAP are for a consolidated reporting entity—a collection of legal entities that includes the parent and any subsidiaries it controls. This reporting model results in a loss of information about the individual legal entities within the consolidated reporting entity. Our study examines the role of parent-only balance sheet information in assessing the credit risk of the parent when it is a bank holding company. We obtain evidence from three trading platforms: credit default swaps (CDS), outstanding bonds, and new bonds. We find that parent-only leverage is useful for debtholders to assess the parent’s credit risk even after considering consolidated leverage. Moreover, in CDS markets, parent-only leverage is more useful for firms without downstream guarantee than for firms with guarantee and is less useful for firms with a stronger internal capital market. Our study raises the awareness of parent-only financial information for credit risk assessments. Data Availability: All data are available from the identified public sources. JEL Classifications: M2; M4; G3.

MEASURING CONNECTEDNESS AND NETWORK ANALYSIS IN STOCK MARKETS FOR DEVELOPED AND DEVELOPING COUNTRIES

Countries are experiencing a surge in political, economic, and financial integration, consequently shaping international market linkages. Financial crises can rapidly spread between countries, emphasizing the need to monitor and assess stock market connections. This paper investigates the degree of financial market connectedness using daily stock returns from January 1997 to August 2017 for 13 countries, both developed and developing. The connectedness measure of Diebold and Yilmaz (2009-2012) is applied to examine the connectedness of stock market returns and the direction of spillovers for all stock markets. This study also analyzes the dynamic connectedness from the U.S. stock market to all other stock markets. The results indicate that the U.S. stock market is the most influential stock market to the others. The results of the dynamic analysis show that connectedness changes over time, specifically during turmoil periods. Most developed countries are transmitters of return spillover shocks while developing countries are recipients.

Construction and Comparative Analysis of Economic and Trade Cooperation Zones Outside China

China's construction of overseas economic and trade cooperation zones is one of the important measures for the Chinese government to promote opening up and strengthen international cooperation. The Chinese government supports powerful enterprises to carry out various forms of mutually beneficial cooperation abroad, so as to promote the common development with the host country. When Chinese enterprises invest in overseas economic and trade cooperation zones, they will attract more enterprises to invest and set up factories in the host countries, which will increase the employment and tax revenue of the host countries, increase foreign exchange earned through export, improve technological level and promote common economic development. This paper aims to explore the characteristics, models and similarities and differences of China's overseas economic and trade cooperation zone construction with similar mechanisms in other countries through comparative analysis, so as to deeply understand China's role in the global economy. The construction of China's overseas economic and trade cooperation zones will provide important opportunities for Chinese enterprises to expand the international market and improve their international competitiveness, and also make positive contributions to promoting global economic cooperation and development.

Assessing the implications of imported electricity equipment in Indonesia: A comprehensive ECM approach for short-term and long-term analysis

This study aims to explore the implications of imported electrical equipment in Indonesia, analysing both short-term and long-term impacts using a quantitative approach. The research focuses on understanding how various economic factors, such as domestic production, international pricing, national income, and exchange rates, influence the country’s import dynamics in the electrical equipment sector. Employing an Error Correction Model (ECM) for regression analysis, the study utilises time-series data from 2007 to 2021 to delve into the complex interplay of these variables. The methodology involves a comprehensive analysis using the Augmented Dickey-Fuller and Phillips-Perron tests to assess the stationarity of the data. This approach ensures the robustness of the ECM, which is employed to analyse the short-term and long-term effects of the identified variables on electrical equipment imports in Indonesia. The results reveal significant relationships between these economic factors and import levels. In the short term, imports are shown to be sensitive to changes in domestic economic conditions and international market prices, while in the long term, the country’s economic growth, reflected through GDP, emerges as a significant determinant. The findings suggest that Indonesia’s electrical equipment import policies must adapt highly to domestic and international economic changes. In the short term, a responsive approach is required to manage the immediate impacts of market fluctuations. The study highlights the importance of aligning import strategies with broader economic growth and environmental sustainability goals for long-term sustainability. Policymakers are advised to focus on enhancing domestic production capabilities, reducing import dependency, and ensuring that environmental considerations are integral to import policies. This study contributes to understanding import dynamics in a developing country context, offering valuable insights for policymakers and industry stakeholders in shaping strategies for economic growth and sustainability in the electrical equipment sector. The findings underscore the need for a balanced, data-driven approach to managing imports, aligning short-term responses with long-term strategic objectives for Indonesia’s ongoing development and industrial advancement.

Assessment and evolution of socio-environmental management of soybean farms participating in the Agro Plus program in Minas Gerais State, Brazil

The Agro Plus program supports rural producers to comply with legislation and be prepared to meet demands of the international soybean market. This paper sought to analyze the current sustainability conditions of soybean farms in Minas Gerais based on the program checklist. The assessment of property improvements was carried out using data from 70 farms evaluated twice between 2016 and 2020 by the Agro Plus. The correlation between the soybean area cultivated in the season 2021 (ha) and the score for each of the 19 themes assessed by program (in %) was calculated and the t test was applied to verify the significance of the correlations. The program has a positive impact on soybean farms in Minas Gerais and contributes significantly to the management of properties in terms of compliance with current legislation. It enabled improvements in all the topics evaluated, with emphasis on those that were most critical before the farm joined Agro Plus. However, some themes are not suitable for most farms. Risk management at work, employee training, waste management and empty packaging storage and PPE laundry facilities have the lowest averages. Focusing on their indicators on second visits, distributing specific teaching materials and organizing courses on the subject seem interesting alternatives for Agro Plus to promote greater development on farms. There are significant correlations between the size of properties and socio-environmental issues, mainly related to labor issues and waste management on the property.

Optimization of the process of communication with customers when organizing sales on Internet platforms

Relevance. Currently, the field of online trading on Internet platforms is actively developing. Online resources allow customers to familiarize themselves with the assortment, read reviews based on them and personal preferences, make a choice and, in general, make purchases without leaving home. Marketplaces are becoming the main platform for online sales.The purpose of the research is to develop a model for optimizing the process of communication with customers when organizing sales on Internet platforms.Objectives: to study the theoretical aspects of the concept of "communication process in the marketplace"; to identify the key problems of the communication process between customers and the seller on the marketplace, to develop a project to optimize the business process of "Communication between customer and seller" in RTK; to form recommendations for optimizing the process of processing information from customers.Methodology. The research is aimed at implementing the tasks set and is based on a review of scientific research by national and international market participants and a statistical analysis of the functioning of online trading platforms.Results. During the analysis of the work of the communications department of RTK LLC, a method for automating the communication process between customers and the seller was proposed, namely, optimizing the process of processing customer feedback, while implementing an automated software product.Conclusions. There are a huge number of technologies that can be implemented into the work of brands engaged in sales on the marketplace, and now this is becoming the most relevant, as the number of sellers in the market increases and competition between them becomes stronger. Mastering new digital technologies will allow trading companies to radically change the business ecosystem, make it faster and more efficient in order to meet the changing needs of customers.Optimizing the process of communication with customers when organizing sales on Internet platforms will help reduce time costs and increase the efficiency of sales organizations.

Shanghai cooperation organization economic and transport cooperation at the present stage

The article analyzes the development of foreign trade in the countries of the Shanghai Cooperation Organization (SCO) for the period 2000–2022 in the commodity segment. The predominant and dominant role of China both in the international market and in trade with the SCO states is shown. It is concluded that, along with the growth of mutual trade in the SCO space, the imbalance of trade flows in the future may contribute to the development of negative phenomena, especially in the case of a transition in this trade to settlements in national currencies. The article shows that the SCO countries, especially China and Russia, have intensified and strengthened their presence in the innovation sphere and the global digital segment. The interaction of the SCO countries in innovative and digital directions, according to the author, makes it possible in the future to increase the SCO’s digital leadership in the global economic space and implement digital solutions in other SCO countries, which are less actively developing and using digital tools today. The Shanghai Cooperation Organization has been developing various areas of bilateral and multilateral cooperation between partners for more than 20 years. One of these areas is the transport sector. The importance of this area is growing both in national economies, for example, in China, and in cooperation. The article describes new modern directions of cooperation between the SCO countries in the transport sector. This strengthens the integration processes in the interstate association in the field of economics, transport and improvisation.

Competitiveness Analysis of Exported Indonesian Black Tea in International Market

Black tea is processed from tea plant and generated from fermented tea leaves. Black tea has become one of the favourite commodities from Indonesia sub-sector plantation. Research aimed to analyze the structure of world black-tea market, comparative advantage and competitive advantage of Indonesian black tea in world market, and Indonesia’s trading position of black tea commodity from 2010 to 2019. Herfindahl Hirschman Index (HHI), Concentration Ratio (CR), Revealed Comparative Advantadge (RCA), Export Dynamic Product (EPD) dan Trading Specialization Index (TSI) were the analytical instruments used in this research. Benchmarking countries were Kenya, Sri Lanka, India, and China. Meanwhile, the countries of destination of exported black tea were Malaysia, Russia, Pakistan, Germany, and the USA. Research results are the structure of world market of black tea is moderate oligopoly. Indonesia shows comparative advantage for its black tea in the countries of exporting destination. Indonesian black tea does not show competitive advantage in the countries of exporting destination. Indonesia’s trading position of black tea commodity is as an exporting country.

Illegal Animal Trade by Crime Groups between Indonesia and Australia Becomes a Phenomenon that Threatens Global Issues

This research explains the phenomenon of illegal animal trade, which is one of the organized transnational crimes in the current era of globalization. Australia and Indonesia are countries affected by the illegal animal trade, making it a global threat that cannot be overcome easily. The research question is why illegal animal trade between Australia and Indonesia has become a strong network at the international level and threatens a global issue. The aim of this research is to analyze one case of TOC, namely the illegal animal trade that occurred between Indonesia and Australia, because this issue is a phenomenon that threatens global issues and has become a strong network at the international level. Data was collected through various literature sources and literature studies, and document review techniques were used for the data collected in this research. Data analysis uses analysis with a descriptive and qualitative approach. The amount of literature used in this research was 12 journal articles, 8 newspapers and reports, five repositories, two theses, and three books. The results of the analysis found several findings and answers from this research, namely that this phenomenon involves two countries, apart from that this crime causes other crimes, and the perpetrators are part of an organized crime group that has many networks at the international level to carry out illegal animal trade on the international black market.

Corporate Entrepreneurship Dimensions and Corporate Market Share of Selected Food and Beverages Manufacturing Companies

The growth of the food and beverage manufacturing sector in Nigeria is hampered by the lack of adoption of corporate entrepreneurship and lack of business innovation, resulting in limited organizational progress among food and beverage companies. This study investigates the relationship between corporate entrepreneurship and market share in selected food and beverage manufacturing companies in Lagos State, Nigeria. The study uses a survey research design, explicitly targeting six leading food and beverage companies in Nigeria that collectively dominate 93% of the industry's overall market share. The overall population consisted of 2,786 employees, and the sample size of 642 was determined using the Cochran formula and multi-stage sampling techniques. Data collection uses a questionnaire. The data analysis process includes the use of descriptive and inferential statistics. The research results show a strong correlation between business innovation, internal business environment, resource utilization, organizational flexibility, proactiveness, risk-taking, and company market share in the selected companies. This research determines that the entrepreneurial dimension of the company has a positive and significant influence on the company's market share. This study suggests that senior managers should proactively engage elements of corporate entrepreneurship to stimulate creative concepts for new and improved products, processes, applications, and services that align with market needs and improve overall performance.