Local Market Dynamics Research Articles

Real Estate Inflation and Housing Finance in India : Mapping the Correlation between Raising Property Prices & Increasing Home Loans among Indian Cities

Focusing specifically on India — a country that has recently faced recessions partially due to housing bubbles, like many other nations around the world — this research explores in depth how development of real estate linked financing sector have fuelled mortgage led asset price inflation across different cities (both metros & Tier II/III) over decades. Drawing upon a variety of market statistics, policy and economic indicators, the research identifies strong relationships between housing loan availability — by way of loosening mortgage regulations — and property price growth. The study shows that metropolitan cities have witnessed growth in housing loans at a CAGR of 10-12% over last decade (2010–2020) resulting into similar annual price appreciation for real estate standing between 010-15%. Tier II and III cities alternatively, exhibited slower but more stable growth trends in property prices of 6-8% driven by government push & infrastructure developments. The research emphasizes how this relationship has been altered by a number of variables, including as urbanization, demographic changes, government housing programs, and regulatory reforms like RERA and GST. The results imply that although housing financing has played a significant part in promoting the expansion of the real estate market, the influence varies greatly depending on local market dynamics, infrastructural development, and the state of the local economy.

Domesticating sustainability transitions: Spatial and temporal variation of industrial eco-efficiency in China

This study analyses regional industrial sustainability transitions from global and local perspectives. We measure industrial eco-efficiency (IEE) of 280 cities in China from 2010 to 2020 and analyze potential influencing factors using geographical and temporal weighted regression model. We find that foreign investment and international trade are positively associated with IEE with diminishing effects, and then local household consumption enhances IEE on the basis of local environmental governance. The effects of international environmental regulations and technology spillover on IEE are positive, as they align with China's drive for innovation. We further categorize cities into five distinct types based on the influences of both global and local factors—dominated by local environmental regulations, driven by international standards, propelled by foreign investment, shaped by local market dynamics, and affected by multiple factors. We conclude that regional industrial sustainability transitions in China are influenced by forces operating at various scales and exhibit distinct spatiotemporal variation. The drivers of these transitions have shifted from a global scale to a local scale, and both regional conditions and the stage of industrialization significantly affect the intensity of actions undertaken by different scale factors. Finally, we propose policy recommendations, considering regional heterogeneity and the stages of industrialization.

The Retreat from BIST: Insights into Foreign Portfolio Investment Movements

The need for rapid growth and development in developing countries increases the demand for capital. As a result, foreign portfolio investments are of great importance, especially in emerging markets, as they help meet capital needs. However, their ability to move quickly also introduces high volatility to financial markets. This study examines changes in the share of foreign portfolio investors in Borsa Istanbul from 2004 to 2023, aiming to provide long-term insights to market participants. Initially, changes in the foreign portfolio investor ratio over time are graphically analyzed alongside the BIST 100 index and the average interest rate of deposits with a maturity of up to 3 months. These changes are evaluated in the context of both global and local developments. The study then investigates the causal relationship between the foreign portfolio investor ratio and the BIST 100 index using a cointegration test and a causality test based on the VECM model. The findings show a one-way causality from the BIST 100 index to the foreign portfolio investor ratio, indicating that foreign investors' market movements are largely influenced by the performance of the BIST 100, and local market dynamics significantly affect foreign capital inflows.

Cross-Cultural Management Practices in Multinational Corporations: Enhancing Organizational Effectiveness

Cross-cultural management in multinational corporations (MNCs) has become increasingly vital as organizations expand their operations globally. the significance of effective cross-cultural management practices in enhancing organizational effectiveness and achieving competitive advantage in diverse international markets. theoretical frameworks and empirical studies to identify key challenges and opportunities associated with cross-cultural management in MNCs. It investigates how successful organizations navigate cultural differences, leverage diversity, and promote inclusive leadership to foster innovation, collaboration, and cohesive organizational cultures across borders. Case studies and comparative analyses illustrate best practices and innovative approaches adopted by MNCs to address cross-cultural challenges. the importance of cultural intelligence, communication strategies, and adaptive leadership in managing diverse teams and aligning global strategies with local market dynamics.

Investor's Perception with Respect to Corporate Governance: A Study of Selected IT firms

This research delves into the complexities of corporate governance within the Indian IT sector, focusing on the perspectives and awareness levels of retail investors. It explores the evolution of corporate governance practices, influenced by global trends and local market dynamics, in leading IT companies such as Infosys, Wipro, and TCS. The study employs a comprehensive survey to assess the demographic profile, investment patterns, and corporate governance awareness among IT professionals in the Delhi NCR region. The findings reveal a youthful demographic with a cautious investment approach and varying degrees of engagement with corporate governance issues. Notably, a strong relationship is observed between professional roles and the understanding of corporate governance norms, particularly Clause 49 of the Listing Agreement. The study underscores the importance of corporate governance awareness in shaping investment decisions and highlights the need for transparent and accountable governance practices to align with investor expectations. It contributes valuable insights to the discourse on corporate governance in Indian IT firms, providing a foundation for enhancing investor-friendly governance frameworks.

Comparative Study of Marketing Strategies Between Starbucks and Luckin Coffee in China

This paper examines the marketing strategies of Starbucks and Luckin Coffee in Chinas booming coffee market. It analyzes their key approaches, promotional tactics, pricing models, and target customer segments. The study aims to understand how these strategies have influenced each companys brand positioning and market share. A comprehensive understanding of their strategies and effectiveness is achieved by utilizing multiple sources, such as scholarly articles, industry reports, and marketing campaigns. While Starbucks emphasizes a high-end experience and loyalty, Luckin Coffee focuses on accessibility and affordability. Both companies face the challenge of maintaining profitability in a highly competitive market. They prioritize digital platforms but employ different strategies to stand out. Starbucks cultivates an upscale coffee culture, while Luckin Coffee rapidly expands through cost-effective measures. This review highlights the importance of adapting marketing strategies based on local market dynamics and audience preferences. Future market entrants can learn valuable lessons from the successes and challenges these major players face in Chinas coffee industry.

EVALUATING THE EFFICACY OF TECHNOLOGY INCUBATION CENTRES IN FOSTERING ENTREPRENEURSHIP: CASE STUDIES FROM THE GLOBAL SOUT

This study conducts a comprehensive evaluation of the effectiveness of Technology Incubation Centres (TICs) in nurturing entrepreneurship, focusing on case studies from diverse regions of the Global South. With the growing emphasis on innovation and technology-driven economic development, TICs have emerged as vital entities in fostering entrepreneurial ecosystems. The research employs a mixed-methods approach, combining quantitative analysis and qualitative case studies. The quantitative aspect involves assessing key performance indicators, including startup success rates, job creation, and financial sustainability of TICs. Qualitative investigations delve into the nuanced experiences of entrepreneurs, exploring the support mechanisms provided by TICs, challenges faced, and the overall impact on their ventures. The case studies span various contexts within the Global South, encompassing regions with differing economic, social, and cultural landscapes. By examining TICs in diverse settings, the study aims to draw insights into the contextual factors influencing the efficacy of incubation programs and their relevance in different entrepreneurial ecosystems. Preliminary findings suggest a correlation between the success of TICs and factors such as effective mentorship, access to funding, and collaborative networks. However, challenges such as resource constraints, regulatory hurdles, and variations in local market dynamics pose significant barriers to the optimal functioning of TICs. The study contributes to the existing literature by offering a nuanced understanding of the role and impact of TICs in the Global South. Findings will inform policymakers, entrepreneurs, and stakeholders about the specific contextual considerations that influence the efficacy of TICs, ultimately aiding in the refinement of strategies to enhance entrepreneurship and innovation in emerging economies. As the Global South increasingly positions itself as a hub for technological innovation, this research provides timely insights into the evolving landscape of entrepreneurial support structures, offering practical implications for the future development of TICs and fostering a conducive environment for sustained entrepreneurial growth.
 Keywords: Technology Incubation Centres, Entrepreneurship, Global South, Case Studies, Innovation, Economic Development.

Pengembangan Produk Minuman ES’BOYO Pada Kegiatan Wirausaha Merdeka Kampus Guna Meningkatkan Inovasi Kreatifitas UMKM Lokal

This community service discusses the initiative to develop a beverage product called ES'BOYO through the Independent Campus Entrepreneur program. The main focus of this activity is to encourage innovation and creativity among local Micro, Small, and Medium Enterprises (MSMEs). By involving students as agents of change, this activity aims to enrich the entrepreneurial ecosystem on campus and support the development of competitive local products. The product development process includes a market study stage to understand consumer needs and preferences, ES'BOYO product design that combines traditional flavors with an innovative touch, and product trials in the local market. These steps are designed to increase the competitiveness of local MSMEs by providing added value through unique and attractive products for consumers. In addition to the product development aspect, this activity also focuses on involving students in developing entrepreneurial skills, building business networks, and understanding local market dynamics. The results of this service are expected to have a positive impact, not only in increasing sales of ES'BOYO products, but also in increasing public awareness of the importance of supporting local MSMEs and local wisdom-based product innovation. Overall, this article describes a real effort in supporting entrepreneurial ecosystems at the campus level to strengthen contributions to the development of local MSMEs and create an environment that stimulates creative innovation among students

A Heterogeneous Factors Influencing Adopting Online Transaction in Small Scale Industries in Bangalore

The proliferation of digital technologies and the internet has brought about a significant transformation in the way businesses operate worldwide. This study explores the heterogeneous factors influencing the adoption of online transactions in small-scale industries in Bangalore, India. Small-scale industries play a vital role in the local economy, and understanding their transition to online transactions is critical for their sustainability and growth. This research employs a mixed-method approach, combining surveys and interviews, to collect data from a diverse sample of small-scale industry owners and managers across Bangalore. The study aims to identify and categorize the various factors that affect the adoption of online transactions in this context. The findings suggest a complex interplay of factors, reflecting the diverse nature of small-scale industries. Economic, technological, social, and organizational factors emerged as primary determinants influencing the adoption of online transactions. Economic factors include cost-effectiveness, financial incentives, and profitability, while technological factors encompass infrastructure, digital literacy, and the availability of user-friendly platforms. Social factors revolve around customer demand, peer influence, and the local market dynamics, while organizational factors pertain to the firm’s size, structure, and adaptability. Additionally, the study reveals that government policies, regulations, and industry-specific associations have a significant impact on the decision to adopt online transactions in small-scale industries. External factors, such as competition, industry trends, and the COVID-19 pandemic, have also played a role in accelerating this transition. Understanding these heterogeneous factors and their interactions is crucial for policymakers, industry associations, and businesses in creating tailored strategies to promote online transaction adoption. By recognizing the multifaceted nature of these factors, small-scale industries can overcome barriers and leverage opportunities to transition into a digitally empowered future. In conclusion, this research sheds light on the complex landscape of online transaction adoption among small-scale industries in Bangalore, providing valuable insights into the challenges and opportunities these businesses face. It underscores the need for a holistic approach to support their journey towards a digital future, enhancing their competitiveness and contributing to the growth of the local economy.

Augmented Reality Marketing Implementation in Greek SMEs - A SWOT Analysis

Abstract Augmented Reality (AR) has established itself as a transformative tool in the domain of marketing, enabling both immersive and interactive experiences for consumers. The inherent capability of AR to overlay digital content onto the real world provides marketers with unparalleled opportunities to connect with their target audience. For the effective integration of Augmented Reality Marketing (ARM) within Greek Small and Medium-sized Enterprises (SMEs), it's essential to capitalize on inherent strengths, address potential weaknesses, exploit existing opportunities, and strategically navigate anticipated threats. Fundamental to the successful incorporation of ARM in this context is the development of a carefully crafted strategy, enriched by a deep understanding of the local market dynamics. From a methodological standpoint, this research draws upon a set of predetermined keywords sourced from renowned databases such as Google, Google Scholar, Semantic Scholar, Science Direct, and Scopus. Using secondary data, the collated information was analyzed using the SWOT framework, facilitating a thorough examination of strengths, weaknesses, opportunities, and threats. To achieve this, a SWOT analysis was systematically employed, offering a comprehensive view of the potential for integrating augmented reality marketing within Greek SMEs. Keywords: Augmenting Reality Marketing, Digital Marketing, SMEs, Swot Analysis, Greece, Greek enterprises.

Indonesia Islamic Financial Institution's Cost efficiency and Welfare Performance : Evidence from Economic's Recovering Country

Purpose – The study examines the relationship between the consequential social cost of market power (i.e., welfare performance of banks) and cost efficiency using data covering the period 2009 to 2017 in both private own Islamic banks and state owned Islamic Banks in Indonesia.
 Design/methodology/approach – The study adopts the Ordinary Least Squares (OLS), Fixed Effect (FE) panel regression and the Quantile regression (QR) approaches to control for heterogeneity and provide increased room for policy relevance. The Two-Stage Least Squares Instrumental Variables (2SLS-IV) regression is used to ensure the robustness of the findings against the problem of possible reverse causality.
 Findings – The results indicate a positive relationship between banks’ welfare performance and cost efficiency, which suggests that greater cost efficiency hedges welfare losses. In other words, welfare gains and cost-efficient banks are not mutually exclusive. Also, the results show evidence that the sensitivity of welfare gain to cost efficiency depends on the knowledge of local market dynamics. Further, the findings from the QR estimation suggest that, but for welfare loss at low (Q.25) to the median (Q.50) quantiles, cost efficiency is a necessary and sufficient condition to hedge the welfare losses.

The Recipe to Success in Running a Local Hockey Development Business

This article explores essential strategies and considerations for establishing and growing a thriving business within the competitive landscape of hockey development. It delves into the importance of understanding the local market dynamics, including demographics, competition, and hockey culture. Building strong relationships with local hockey leagues, teams, and the local community is essential for gaining traction and fostering trust within the community. Implementing innovative and comprehensive player development programs tailored to the needs of local players is crucial for attracting and retaining clients. It also highlights the significance of leveraging technology and data analytics to enhance coaching methodologies, performance monitoring, and player assessment. Effective marketing and branding strategies, including social media engagement and community initiatives, play a pivotal role in increasing visibility and attracting clients. Additionally, establishing administrative and operational processes, including financial management, staff training, and customer service protocols, is essential for ensuring smooth business operations and delivering exceptional experiences to clients. By adopting a holistic approach that integrates these strategies and considerations, local hockey development businesses can position themselves for long-term success and sustainability in their respective markets.

CHALLENGES AND OPPORTUNITIES IN THE IMPLEMENTATION OF BIG DATA ANALYTICS IN MANAGEMENT INFORMATION SYSTEMS IN BANGLADESH

This study aims to investigate the challenges and opportunities associated with the integration of Big Data Analytics (BDA) within Management Information Systems (MIS) in the context of Bangladesh, a developing economy with distinct characteristics. A mixed-methods approach was employed, combining survey data from 40 organizations and in-depth interviews with key informants to explore BDA implementation challenges and opportunities unique to Bangladesh. The findings reveal that organizations in Bangladesh encounter challenges related to limited technological infrastructure, data security and privacy concerns, skill shortages, and regulatory complexities. Despite these challenges, BDA offers significant opportunities, including economic and business growth, government support, local market understanding, and increased competitiveness. This study is limited by its focus on the Bangladeshi context and may not fully capture the diversity of challenges and opportunities in other developing economies. Future research should consider cross-cultural comparisons and sector-specific analyses. The insights generated by this research provide organizations in Bangladesh with a roadmap for navigating BDA implementation challenges while harnessing its potential for economic growth and market competitiveness. Policymakers and government bodies can use these findings to formulate policies that support BDA adoption and economic development. As organizations leverage BDA to understand local market dynamics and enhance customer experiences, there is potential for improved products and services that cater to the unique preferences of Bangladeshi consumers. This has implications for broader society in terms of enhanced consumer satisfaction. This study contributes to the literature by enriching our understanding of the complexities of BDA integration in developing economies. It highlights the need for tailored strategies, fosters innovation, and positions BDA as a catalyst for economic growth and competitiveness in Bangladesh. The research is limited to a sample of 40 organizations in Bangladesh, and the findings may not be fully generalizable to all industries and contexts within the country.

The return of the local state? Failing neoliberalism, remunicipalisation, and the role of the state in advanced capitalism

Picking up on the manifestation of state intervention following the 2008 financial crisis, we argue that the recent trend towards remunicipalisation underlines but also problematises the thesis of new state capitalism. Remunicipalisation refers to a process whereby towns, cities and sub-national regions take previously privatised services and infrastructures back into public ownership. Remunicipalisation has led to the emergence of regionally- and municipally-owned state enterprises across a wide range of sectors including water, energy, waste, transport, education, (tele)communications, and health and social care. Engaging with the nature of the ‘new’ state capitalism, and particularly challenging its theoretically restrictive understanding of the state as ‘market enabler’, we highlight that remunicipalisations have often emerged in response to the failed promise of neoliberal capitalism to improve the quality and efficiency of public services through the (supposed) competitiveness of the free market. Like neoliberalism, remunicipalisations take spatially diverse and variegated forms as market-driven logics interact with other political and economic determinations. As such, remunicipalisations often encompass critiques of neoliberal governance and market volatility, and instead focus on the potential of regional wealth creation as well as stabilising local market dynamics through diversifying ownership forms. Drawing upon our ongoing empirical work on German remunicipalisation, we aim to foreground how multiple determinations at work in the German political economy at different spatial scales shape its particular trajectory out of neoliberal mutation. We show how the remunicipalisation of energy provider TEAG has enabled the local state to intervene and diversify the uneven economic geographies in the state of Thuringia.

Are smallholders disadvantaged by ‘double sell low, buy high’ dynamics on rural markets in Madagascar?

ABSTRACT Local markets in rural areas constitute the main means of market integration for smallholders in developing countries. They are used for selling and buying agricultural products and basic necessities. Frequently infrastructure is poor and transport costs high so that farmers’ access is restricted to few local markets. To understand local market dynamics we investigated the Mahafaly Plateau region in Madagascar as an example of a rural region in a developing country, where farmers depend on small local markets. We collected data on usage of markets and monitored prices for crops and livestock for two years on five markets. We find an extreme seasonality of market prices for crops and livestock. Given prevailing marketing strategies and price dynamics, farmers face a ‘double sell low, buy high’ challenge for crops and livestock leading to welfare losses, increased food insecurity and seasonal hunger.

Cost efficiency and welfare performance of banks: evidence from an emerging economy

PurposeThe study examines the relationship between the consequential social cost of market power (i.e. welfare performance of banks) and cost efficiency using data covering the period 2009 to 2017 from the Ghanaian banking industry.Design/methodology/approachThe study adopts the ordinary least squares (OLS), fixed effect (FE) panel regression and the quantile regression (QR) approaches to control for heterogeneity and provide increased room for policy relevance. The two-stage least squares instrumental variables (2SLS-IV) regression is used to ensure the robustness of the findings against the problem of possible reverse causality.FindingsThe results indicate a positive relationship between banks' welfare performance and cost efficiency, which suggests that greater cost efficiency hedges welfare losses. In other words, welfare gains and cost-efficient banks are not mutually exclusive. Also, the results show evidence that the sensitivity of welfare gain to cost efficiency depends on the knowledge of local market dynamics. Further, the findings from the QR estimation suggest that, but for welfare loss at low (Q.25) to the median (Q.50) quantiles, cost efficiency is a necessary and sufficient condition to hedge the welfare losses.Practical implicationsThe results demonstrate that financial consumer protection cannot be achieved without cost efficiency in the presence of both foreign banks and high market knowledge. Therefore, our paper suggests an integrated cost efficiency policy approach that has the complementary effect of a robust information sharing mechanism and incentives to hedge against welfare losses in the banking sector of emerging economies. Moreover, if welfare gain is synonymous with cost-efficient banks, then the presence of a quiet life is typical of financial consumer protection.Originality/valueThis study provides insight into the importance of cost efficiency to the public policy of financial consumer protection in an era of foreign banks' dominance. From the review of prior literature, this paper is the first to apply the QR estimation technique to examine the effect of cost efficiency throughout the conditional distribution of bank welfare performance rather than just the conditional mean effect of cost efficiency.

Consumer Welfare Effect of Banks’ Lending Services in the Ghanaian Banking Industry

The study examines the relationship between the consequential social cost of market power (i.e. welfare performance of banks) and cost efficiency using data covering the period 2009 to 2017 from the Ghanaian banking industry. The study adopts the Ordinary Least Squares (OLS), Fixed Effect (FE) panel regression and the Quantile regression (QR) approaches to control for heterogeneity and provide increased room for policy relevance. The Two-Stage Least Squares Instrumental Variables (2SLS-IV) regression is used to ensure the robustness of the findings against the problem of possible reverse causality. The results indicate a positive relationship between banks’ welfare performance and cost efficiency, which suggests that greater cost efficiency hedges welfare losses. In other words, welfare gains and cost-efficient banks are not mutually exclusive. Also, the results show evidence that the sensitivity of welfare gain to cost efficiency depends on knowledge of local market dynamics. Further, the findings from the QR estimation suggest that, but for welfare loss at low (Q.25) to the median (Q.50) quantiles, cost efficiency is a necessary and sufficient condition to hedge the welfare losses. The results demonstrate that financial consumer protection cannot be achieved without cost efficiency in the presence of both foreign banks and high market knowledge. Therefore, our paper suggests an integrated cost efficiency policy approach that has the complementary effect of a robust information sharing mechanism and incentives to hedge against welfare losses in the banking sector of emerging economies. Moreover, if welfare gain is synonymous with cost-efficient banks, then the presence of a quiet life is typical of financial consumer protection. This study provides insight into the importance of cost efficiency to the public policy of financial consumer protection in an era of foreign banks’ dominance. From the review of prior literature, this paper is the first to apply the QR estimation technique to examine the effect of cost efficiency throughout the conditional distribution of bank welfare performance rather than just the conditional mean effect of cost efficiency.

Estratégias de Hedge para o Etanol Brasileiro: análise a partir de operações de contratos futuros doméstico e estrangeiros

As mudanças ocorridas no mercado internacional de biocombustíveis provocaram significativas alterações no mercado de etanol brasileiro. Diante disso, este trabalho objetivou avaliar a eficiência do hedge e risco de base do etanol brasileiro utilizando contratos futuros no Brasil e EUA entre 2010 a 2019. Para isso, foi utilizado um modelo de hedge simultâneo de câmbio e preços. Os resultados indicam que a utilização de contratos estrangeiros não foi eficiente na maior parte dos anos, sobretudo em razão das variações cambiais, choques de oferta e intervenções nos mercados de combustíveis de ambos os países. Além disso, a operação com contratos americanos oferece maior variação no risco de base, sobretudo pelo fator cambial. No entanto, observa-se que nos períodos de menores volatilidades cambiais e de redução dos efeitos domésticos na regulação do mercado, a efetividade do hedge com contratos estrangeiros foi próxima daquela utilizando contratos nacionais, sugerindo-se uma alternativa na procura por contratos com maior liquidez.

ACA Exchange Competitiveness In California

AbstractCalifornia's implementation of the Affordable Care Act (ACA) has been the most successful in the nation and is, in many ways, a model of how a managed competition marketplace is expected to work. In particular, the state's decision to structure its marketplace as an active purchaser has contributed to premium increases that are lower than in almost all other states. This report on the performance of the ACA marketplace in California examines the effects of concentration and consolidation factors, the breadth of enrollment, and the impact of competition on the cost of health insurance and the options available to consumers across the many diverse regions of the state, in the context of an active purchaser exchange structure interacting with the regulations of federal law and with local market dynamics. It concludes that the relative concentrations of insurers and particularly of providers in the different rating regions of the state are the fundamentals that matter most in the effort to bend the health insurance cost curve.

A Survey of Logging Contract Rates in the Southern European Alps

A survey of harvesting contracts was conducted in the Alpine regions of France and Italy. The main goal was to produce a benchmark for the harvesting contract rates in the area that may guide forest owners and logging contractors when making their harvesting decisions. The sample included 443 contracts, evenly distributed between France and Italy. The mean tract size was 9.17 ha, while the mean lot size was slightly larger than 500 m3 under bark (ub). Mean removal intensity varied from 70 to 120 m3 ub ha−1, depending on country and harvesting technique (i.e. ground-based or cable-yarder based). Mean contract rate was 35€ m−3 ub, but individual contract rates varied significantly between countries and for different harvest techniques. Regression analysis showed that contract rate was strongly affected by tree size, extraction distance and harvest technique. Contrary to expectation, neither tract size nor lot size had any effect on contract rate. This may be explained by the widespread use of mobile operations that are specifically designed for handling small lots and incur minimum relocation cost. The technical factors explored in the study could only explain 40 % of the variability in the dataset, and therefore at least part of the variability must derive from non-technical factors such as local market dynamics and national economics. The study did find significant differences between countries. In particular, ground-based operations were more cost efficient in France, and cable yarder-based operations in Italy.