Price Impact Research Articles

Statistical Examination of the Impact of Export Prices of Some Selected Agricultural Commodities to Nigeria Economic Growth (1999 – 2022)

In this paper we examined empirically the impact of three selected export prices of agricultural commodities such as coca, rubber and soya beans to Nigeria Economic Growth from 1999 to 2022. The data for this study were of secondary source obtained the Central Bank of Nigeria Statistical Bulletin. The Multiple Regression Model of GDP of the three selected export prices of agricultural commodities have significant relationship with the Gross Domestic Product (GDP) with the p-value of (=0.000) which is less than

Decoding Consumer Behavior: The Role of Pricing, Branding, and Social Media in Market Choices

This study explores the impact of price, brand, and social media on consumer purchasing decisions within a regional textile market, employing a quantitative methodology. Data was collected through questionnaires and analyzed using multiple linear regression. Findings reveal that each factor significantly influences consumer behavior, suggesting that a holistic marketing strategy incorporating these elements is crucial for enhancing consumer engagement and retention. This research highlights the importance of synchronized marketing efforts in maximizing the effectiveness of pricing, branding, and digital engagement in regional markets. Highlights : Price, Brand, and Social Media Impact: Each factor significantly affects consumer purchasing decisions, emphasizing their critical role in marketing strategies. Holistic Marketing Approach: Integrating price, brand, and social media strategies is vital for enhancing market penetration and customer loyalty. Quantitative Analysis Validation: The use of multiple linear regression confirms the strong influence of these variables on consumer choices, supporting targeted marketing tactics. Keywords : Consumer Behavior, Pricing Strategy, Brand Influence, Social Media Marketing, Textile Industry

How does green investment respond differently to decomposed oil shocks?

This study investigates the asymmetric impact of oil price shocks on green investment by using a Nonlinear Autoregressive Distributed Lag (NARDL) framework. Oil price shocks are decomposed from perspectives of supply, demand, and risk of the oil market, and the green investment is proxied by the Dow Jones Sustainability World Index. The asymmetry of the oil price impact is examined from different sources of the shocks and the condition when the specific shock level is positive or negative. Our findings indicate that impacts of oil shocks on green investment are different depending on sources of the shocks and time horizons. Specifically, supply shocks exhibit no obvious asymmetric effects. Positive and negative changes of the demand shock depict asymmetric impacts on green investment, while such an asymmetry gradually evolves to be symmetric in the long-run. In contrast, the impact of risk shocks is symmetric in the short-run while being evolved to be asymmetric in the long-run. Moreover, the linkage of oil shocks with green investment is shown to be altered by unanticipated events such as the financial crisis or the COVID-19 pandemic, suggesting the uncertainty embedded in the two is somewhat similar.

The impact of housing prices and land financing on economic growth: Evidence from Chinese 277 cities at the prefecture level and above.

With the rapid progress of urbanization in China, the real estate industry, characterized by a long industrial chain, has become a pillar industry for economic development. Therefore, we inspect the nexus between land finance, housing prices, and economic growth. For this purpose, we use the panel data of 277 cities at the prefecture level or above in China from 2011 to 2019, and empirically examine it by using the Panel Vector Auto Regression (PVAR) model. The results show that there is a causal relationship between housing prices and economic growth. Housing prices promote economic growth in the short term and inhibit it in the long term. Both economic growth and housing prices have a significant impact on land finance. The economic growth show a significantly positive impact, while housing prices promote land finance in the short term with a long-term trend from positive to negative. This is the first study that tries to probe the relationship between urban housing prices, land finance, and economic growth by considering 277 prefecture-level and above cities in China. To promote the stable development of the regional economy, local governments need to overcome their dependence on the housing market and land finance and promote the healthy development of the housing market.

Exploring Inflation Dynamics with the Phillips Curve in Türkiye: Evidence from the Markov Regime Switching Model

Unlike in many advanced and emerging market economies, inflation was already a problem for the Turkish economy before the COVID-19 pandemic. During the 1990s, Türkiye experienced severe inflation, which reached three digits in some months. Although inflation was reduced to single digits in the 2000s through a successful disinflation program under an implicit inflation targeting framework with a flexible exchange rate regime, price stability became a problem again after the global financial crisis. Inflation gradually increased during the 2010s and became out of control after late 2021. This study aims to explore inflation dynamics in Türkiye using the Phillips curve framework for different inflation environments. To this end, the Phillips curve equation, augmented with the exchange rate and oil prices, is estimated using the Markov regime switching model between January 2006 and September 2023. Two regimes are identified in the sample, namely low- and high-inflation regimes. According to the estimation results, the Phillips curve is invalid in both regimes. The unemployment gap is statistically insignificant despite its negative impact on current inflation. The increasing coefficient of backward inflation in the high regime reflects the resurgent indexation behavior, which was dominant before inflation targeting was introduced in Türkiye. The positive impact of oil prices is only statistically significant in the low regime. While an increase in the exchange rate significantly raises inflation in both regimes, the effect is greater in the high-inflation regime. These empirical findings indicate that the primary issues for controlling inflation in Türkiye are inflation inertia and exchange rate stability.

The Impact of Service Quality, Prices and Consumer Trust on Interest In Goods Deliveri Services (Case Study of Local Expedition Company Service Users in Pontianak City)

This research aims to determine service quality, price and costumer trust in interest in goods delivery services at local expedition companies in the city of Pontianak. The population in this study were all existing users of local expedition company services and the sample was determined using the Purposive Sampling method. The form of research is a form of causality research with data collection techniques using questionnaires. The analytical method used in this research is the rating scale method which is processed on a computer using the SPSS version 25 program. Data testing is carried out using validity tests, reliability tests, classical assumption tests (normality, multicollinearity, heteroscedasticity and autocorrelation), correlation tests, coefficient tests determination, multiple linear regression test, F test and t test. Based on the test results (Test F), it shows that the variables of service quality, price and customer trust influence consumer buying interest. Partial test results (t test) show that service quality does not influence costumer buying interest, but price and costumer trust influence interest in using the company's goods delivery services.

Evaluating the impact of minimum unit pricing (MUP) on alcohol sales after 3years of implementation in Scotland: A controlled interrupted time-series study.

On 1May 2018, Scotland introduced minimum unit pricing (MUP), a strength-based floor price below which alcohol cannot be sold, throughout all alcoholic beverages. The legislation necessitates an evaluation of its impact across a range of outcomes that will inform whether MUP will continue beyond its sixth year. We measured the impact of MUP on per-adult alcohol sales (as a proxy for consumption) after 3 years of implementation. Controlled interrupted time-series regression was used to assess the impact of MUP on alcohol sales in Scotland after 3 years of implementation, with England and Wales (EW) being the control group. In adjusted analyses, we included household disposable income, on-trade alcohol sales (in off-trade analyses) and substitution between drink categories (in drink category analyses) as covariates. Weekly data were assessed on the volume of pure alcohol sold in Scotland and EW between January 2013 and May 2021, expressed as litres of pure alcohol per adult. The impact of MUP on total (on- and off-trade combined), off-trade and on-trade alcohol sales was assessed separately. The introduction of MUP in Scotland was associated with a 3.0% (95% confidence interval = 1.8-4.2%) net reduction in total alcohol sales per adult after adjustment for the best available geographical control, disposable income and substitution. This reflects a 1.1% fall in Scotland in contrast to a 2.4% increase in EW. The reduction in total alcohol sales in Scotland was driven by reduced sales of beer, spirits, cider and perry. The reduction in total sales was due to reductions in sales of alcohol through the off-trade. There was no evidence of any change in on-trade alcohol sales. Minimum unit pricing has been effective in reducing population-level alcohol sales in Scotland in the 3 years since implementation.

THE INFLUENCE OF PRODUCT QUALITY, PRICE AND PROMOTION ON THE DECISION TO PURCHASE VANS SHOES (Case Study of Students at the Faculty of Economics and Business, Indonesian Christian University)

The studies aim to understand following aspects of the purchase decision: the presence of a partial influence on the quality of the product on decisions to purchase Vans shoes, existence of a Partial influency on price of decision on purchase of Vans footwear, Presence of an influencing of promotions on purchasing decisions of Vans brand shoe, and the combined impact of products quality, prices, and promotions on Vans’ decisions to buy shoes. Most of populations in these studies were active student at Christian University Indonesia who already wore Vans shoes. Respondents to this study consisted of 58 respondents and sampling techniques use is purposive Sampling. Data analyst techniques use in these studies is Double Linear Regressions use application SPSS 25. Results of these studies show that (1) the quality of the product has partials influence on the purchase decisions of the Vans branded shoes, (2) the price has no partial effects on the buying decision of Vans, (3) the promotion is partially influenced on the purchasing decision for Vans Brand Shoes, and (4) the products quality, prices, and promotions combined have an impact on Vans’ brands shoe purchase decisions. Keywords: Product Qualities, Prices, Promotions, Purchase Decisions

Impacts of hydrogen price and carbon dioxide emission factor on bi-objective optimizations of absorption and subsequent methanation processes of carbon dioxide capture, utilization, and storage

The bi-objective optimization of the CO2 absorption and subsequent methanation process using monoethanolamine (MEA) was performed based on two evaluation indexes: cost and CO2 emissions. In the evaluation boundary, the methanation-generated exothermic heat and absorption-generated reboiler heat duty were integrated using low-pressure steam. The indexes, cost and CO2 emissions, of the whole evaluation boundary were evaluated based on the electricity demand, process water, natural gas, hydrogen, and MEA. Further, Pareto solutions were explored by combining machine learning and genetic algorithms. Notably, the bi-objective optimizations were implemented for the following two cases using different hydrogen prices and CO2 emission factors: the present baseline and target values in the U.S. national clean hydrogen strategy (Hydrogen Shot), and 21 and 12 Pareto solutions were obtained for the present baseline and the target of Hydrogen Shot, respectively. The expenses and CO2 emissions for the Hydrogen Shot target reduced by approximately 80% and 50%, respectively, compared with the present baseline. Thereafter, the impacts of the hydrogen price and CO2 emission factor, as well as the process simulation design variables, were analyzed. The analyses revealed that most of the evaluation indexes (cost and CO2 emissions) were derived from hydrogen; additionally, the methanation pressure and temperature significantly impacted the Pareto solutions. Thus, the bi-objective optimization approach implemented here is promising for the optimizations of subsequent utilization processes.

The Impact of Portraits, Product Pricing, and Voice Emotion on Crowdfunding Success Rates Across Different Genders

In recent years, crowdfunding as an internet entrepreneurial method has gradually entered the public's attention. Crowdfunding platforms have witnessed significant development across various sectors, including charity, cultural creativity, and technological innovation. This study explores the impact of gender, visibility, product pricing, and voice emotion on crowdfunding success rates within the American platform Kickstarter. Emphasis is placed on understanding how gender factors influence crowdfunding in different contexts, aiming to assist project founders to enhance their project success rates. The study analyzes success rates of founders of different genders in various situations. The findings under face visibility conditions, the success rate of male funders is significantly lower than the mean success rate of female funders. Crowdfunding success rates are generally higher when product prices exceed the average, with female funders consistently achieving higher success rates than male funders in this scenario. In crowdfunding video voiceovers, for founders of different genders, the impact of energy levels in crowdfunding videos on success rates is not significant. However, higher upset values lead to a greater success rate, with a similar increase for founders of different genders. The study concludes that in crowdfunding videos where faces are shown, female fundraisers significantly enhance success rates. Higher crowdfunding project prices lead to higher success rates, and female fundraisers are more likely to succeed in these projects. While the degree of discouragement in voiceovers significantly influences projects, gender is not a crucial influencing factor.

Effect of exchange rate uncertainty, energy prices and sectoral spending on agriculture value added, household consumption, and domestic investment

The agricultural value chain is underpinned by the interdependence of agricultural value added, household consumption and domestic investment. Understanding the complex interactions between these microeconomic outcomes and the uncertainties in the macroeconomic variables of exchange rates, energy prices and sectoral spending remains under-researched. Therefore, this study examines the impact of exchange rate, energy prices and sectoral spending on agricultural value added, household consumption and domestic investment in Nigeria from 1981 to 2020. Using Kernel regularized least squares (KRLS), the results show that the average pointwise marginal effects of exchange rate and agricultural spending are positive, while the average pointwise marginal effect of energy price is significantly negative for the agricultural value-added model. The results also show that the exchange rate, energy prices and agricultural expenditure all have a positive effect on household consumption. Regarding domestic investment, the effect of the exchange rate is positive and statistically insignificant, while the effects of energy prices and agricultural expenditure are negative and statistically significant. The study recommends the need to strengthen the social safety nets currently in place in Nigeria to support households that are vulnerable to exchange rate fluctuations. In addition, incentives should be given to households and farmers to help use renewable energy sources such as solar or wind power for agricultural activities. Also, investment in value chains and agribusiness initiatives should be encouraged rather than just in crop production.

Cognitive influence on the evaluation of wine: The impact and assessment of price

Price is one of the most important product-extrinsic factors influencing the consumers’ response to, and presumably experience of, wine. This is ironic inasmuch as the research tends to highlight either no, or else even a slightly negative relationship between price and liking in typical consumers when they taste wines blind. Nevertheless, providing price information, especially when it is high leads to enhanced taste ratings, especially for low to mid-priced wines. Similarly, bottle and label information (that makes a wine look cheaper or more expensive) has also been shown to influence the evaluation of wine by regular consumers (i.e., non-experts). Indeed, product-extrinsic information often appears to outweigh the product-intrinsic sensory attributes of wine in people’s hedonic (in not necessarily in their sensory-discriminative) ratings. Such findings therefore highlight the importance of cognitive as compared to direct sensory cues in the evaluation of wine. This narrative historical review critically reviews and evaluates the published experimental literature that has examined the impact of price on wine ratings.

Impacts of commodity prices and governance on the expansion of tropical agricultural frontiers

Deforestation in the tropics remains a significant global challenge linked to carbon emissions and biodiversity loss. Agriculture, forestry, wildfires, and urbanization have been repeatedly identified as main drivers of tropical deforestation. Understanding the underlying mechanisms behind these direct causes is crucial to navigate the multiple tradeoffs between competing forest uses, such as food and biomass production (SDG 2), climate action (SDG 13), and life on land (SDG 15). This paper develops and implements a global-scale empirical approach to quantify two key factors affecting land use decisions at tropical forest frontiers: agricultural commodity prices and national governance. It relies on data covering the period 2004–2015 from multiple public sources, aggregated to countries and agro-ecological zones. Our analysis confirms the persistent influence of commodity prices on agricultural land expansion, especially in forest-abundant regions. Economic and environmental governance quality co-determines processes of expansion and contraction of agricultural land in the tropics, yet at much smaller magnitudes than other drivers. We derive land supply elasticities for direct use in standard economic impact assessment models and demonstrate that our results make a difference in a Computable General Equilibrium framework.

Strategic trading as a response to short sellers

We examine whether the strategic response to short selling by other informed investors decelerates the incorporation of positive information. We find a sizeable reduction of positive information impounding before earnings announcements for stocks more exposed to short selling. Consistent with strategic behavior, we find that investors with positive views slow down their trades when short sellers are also present. Furthermore, they break up their buy trades across multiple brokers, suggesting they wish to prevent a price impact. Thus, the strategic reaction to short selling appears to have implications for information impounding before public information releases.

RELATIONSHIP BETWEEN OIL PRICES, EXCHANGE RATES AND STOCK INDICES

This research examines the connections between oil prices, exchange rates, and stock indices in India. It examines correlations and causal effects between these key financial variables. The Granger causality tests fail to detect any significant causal effects between exchange rate returns and either crude oil returns or stock returns. These findings are valuable for long-term decision-making, and further research is needed to fully understand the impact of oil prices on stocks. This study adds to our knowledge of these relationships in the Indian market. Keywords: Oil prices, exchange rates, market, relationships, stock indices

Signalling with Private Monitoring

Abstract We study dynamic signalling when the sender does not see the signals that her actions generate. The sender then uses her past play to forecast what a receiver believes, in turn forcing the receiver to forecast the previous forecast, and so forth. We identify a class of linear-quadratic-Gaussian games where this endogenous higher-order uncertainty can be handled. The sender’s second-order belief is key: it is a private state that she controls, and it creates a new channel for information transmission. We examine the role of higher-order uncertainty and this new signalling channel in applications to macroeconomics, reputation, and trading: inflationary biases under discretion can be larger; career-concerned agents may benefit from not knowing their reputations; and informed trades can carry more price impact. We also introduce an existence method for boundary value problems that can be used in other dynamic games.

The Impact of Transfer Pricing on the Company’s Image. Implications in Audit Work

In an economy strongly marked by globalisation, transfer pricing is at the top of the agenda of taxpayers, tax authorities and regulatory bodies, with its influence manifested primarily in the fiscal area, respectively in the correct determination and proper allocation of the corporate tax base between different jurisdictions or between companies operating within the same jurisdiction. However, transfer pricing transcends the fiscal problematic and significantly influences other aspects of a company's life, one of which is the image reflected in the annual financial statements, including cash flows or financial performance indicators, and through their analysis, the investment decisions of potential users of accounting information. Transfer pricing is, therefore, also a reference point in the audit work carried out at the level of companies part of national or multinational groups and involved in significant intra-group transactions, as compliance or noncompliance with the arm’s length principle directly influences the way in which different elements of income, expenses, results, assets, equity or liabilities are reflected or not in accordance with the true and fair view principle and thus, ultimately, the audit opinion. National and international auditing standards provide recommendations and guidance on how to deal with transfer pricing issues as part of audit engagements, reflecting a continuing concern by professional bodies to develop best practices in this area.

Assessing urban water demand-side management policies before their implementation: An agent-based model approach

In the context of climate change and increasing water scarcity, adopting water demand-side management (DSM) policies has become necessary. This study advocates for utilizing agent-based modelling (ABM) as a robust simulation tool to assess the impact of nonprice (nudges) and price (changes in increasing block tariff) measures on urban water use. Overcoming challenges posed by insufficient high-quality data, the research integrates four sociocognitive profiles and diverse household income levels to reflect the variability in DSM policy effectiveness based on socioeconomic characteristics. Through 125 simulated scenarios combining various increasing block tariffs with nonpricing measures, the study reveals an average monthly demand reduction ranging from 8.1% to 15.6%. Significantly, nonprice measures prove more effective in curbing water use than pricing measures, attributed to the prioritization of environmental concerns in conservation efforts. Higher-income households exhibit less-pronounced reductions in water consumption. Emphasizing the reliability of ABM for ex ante evaluations of DSM policies, this research underscores the importance of a balanced approach, incorporating both nonprice and price-based measures, to effectively address water scarcity challenges.

The effect of institutional herding on stock prices: The differentiating role of credit ratings

This paper investigates the impact of institutional herding on stock price formation, conditional on firms’ credit ratings, using 13F data from 1986 to 2019. In line with the current literature, we find herding intensity is driven by past returns consistent with momentum trading; however, we also find that herding is more sensitive to past returns for non-investment grade (NIG) stocks than investment grade (IG) stocks, resulting in a market bifurcation. We then examine the price impact of these trades and find that herding in NIG equities enhances price discovery. One plausible explanation is that information gradually diffuses within non-investment grade stocks, and herding behavior strengthens information discovery. Finally, we show both momentum-triggered herding and non-momentum-triggered herding contribute to price discovery among non-investment grade stocks.

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.