Market Performance Research Articles

Impact of Different Exchange Rate Policies on Stock Market Performance: Kuwait vs Saudi Arabia

This paper examines the intricate relationship between exchange rate policies and stock market performance, focusing on Kuwait and Saudi Arabia in the Gulf region. It investigates the historical evolution of exchange rate regimes in both countries, analyzing their unique policy objectives. Using empirical analysis, the research explores the correlation between exchange rates and stock market indices, employing statistical methods and regression analysis to identify patterns. Comparative assessments reveal distinct patterns in stock market performance, shedding light on the effectiveness of different exchange rate systems in shaping economic dynamics. The findings contribute to the literature by offering insights into the nuanced relationship between exchange rate policies and stock markets, with implications for policymakers, investors, and financial analysts. By focusing on Kuwait and Saudi Arabia, two pivotal economies, the study addresses a gap in the literature, providing a comparative perspective. Policymakers can use the findings to understand the potential impact of exchange rate policies on economic indicators. Investors can leverage the conclusions to inform their decision-making, considering the nuances of exchange rate dynamics. The study finds that both countries peg their currencies to major world currencies, primarily the USD, and identifies a strong correlation between the Kuwait Stock Index and the Saudi Tasi Index.

Dynamic connectedness among the BRICS markets and the recent pandemic: an application of TVP-VAR approach

PurposeThis study analyses the impact of the Covid-19 on stock market performance of BRICS nations together. BRICS countries comprise almost 30% of the global GDP and around 50% of the world’s economic growth. As BRICS nations have gained the attraction as financial investment destinations, their financial markets have apparently been as potential opportunities for foreign portfolio investors. While there is extensive research on the impact of the Covid-19 pandemic on individual economies and global financial markets, this paper is among the first to systematically investigate the dynamic connectedness of these emerging economies during the pandemic using the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach.Design/methodology/approachWe categorise our data into two distinct periods: the pre-Covid period spanning from January 1, 2018, to March 10, 2020, and the Covid crisis period extending from March 11, 2020, to June 4, 2021. To achieve our research objectives, we employ the Time-Varying Parameter Vector Autoregressions (TVP-VAR) approach to assess dynamic connectedness.FindingsOur findings reveal that among the BRICS nations, Brazil and South Africa serve as net transmitters of shocks, while China and India act as net receivers of shocks during the Covid crisis. However, the total connectedness index (TCI) has exhibited a notable increase throughout this crisis period. This paper makes several notable contributions to the academic literature by offering a unique focus on BRICS economies during the Covid-19 pandemic, providing practical insights for stakeholders, emphasising the importance of risk management and investment strategy, exploring diversification implications and introducing advanced methodology for analysing interconnected financial markets.Research limitations/implicationsThe results have important implications for the investors, the hedge funds, portfolio managers and the policymakers in BRICS stock markets. The investors, investment houses, portfolio managers and policymakers can develop investment strategies and policies in the light of the findings of this study to cope up the future pandemic crisis.Originality/valueThis study is one of its kind that examines the dynamic connectedness of BRICS with recently developed TVP-VAR approach across pandemic crisis.

The Effect of Market Orientation, Learning Orientation, and Entrepreneurial Orientation on Marketing Performance with Competitive Advantage as an Intervening Variable

This study aims to determine the direct and indirect influences of market orientation, learning orientation, and entrepreneurial orientation on marketing performance through competitive advantages in active students of the Makassar State University entrepreneurship study program. The research method used in this study is quantitative. The population in this study is all Makassar State University students for the 2023/2024 academic year with a total sample of 50 students. Based on the results of the research that has been done, this research can be a source of information or reference for teaching staff or lecturers in order to be able to direct and guide students related to the development of one's behavior in entrepreneurial desires, students are expected to be able to further deepen their knowledge related to some of the importance of marketing performance so that it is not focused on scientific theory that produced only, but also able to conduct business ventures and develop them in accordance with existing practices. For further research, efforts will be made to deepen and expand this research both in terms of variables and the development of research methods.

Assortative mating, marital stability and the role of business cycles in the United States from 1968 to 2011

ABSTRACT The strong negative correlation between divorce and a wide range of outcomes in terms of well-being, health, education and labour market performance has been well documented in the literature. Economic conditions have been found to affect marital stability. Shared gains from marriage also depend on spouses’ characteristics such as age, education, ethnicity and religious beliefs. This paper examines the relationship between these spousal characteristics and the probability of dissolution while taking into account business cycle fluctuations. Using data from the Panel Study of Income Dynamics 1968–2011 for the United States and employing a duration modelling strategy, findings reveal that differences in educational attainment and ethnicity between spouses increase the hazard of marital dissolution. However similarity in religious beliefs and ethnicity reduce the risk of divorce. A period of economic growth improves marital stability. However, ethnic differences are a significant predictor of marital division, even in times of economic prosperity.

The Impact of Creative Content on Digital Marketing Effectiveness: A Comprehensive Analysis

Digital marketing has become one of the most sought-after mediums by the general public and businesses today. This marketing method allows for an expanded market reach, faster communication, and ease in transaction processes. This research aims to investigate and describe the relationship between the level of creativity in a company's digital marketing strategy and its success in achieving marketing goals, such as increased website traffic, customer conversions, or product sales. This study adopts a qualitative approach, with data collected through interviews with respondents as the primary method. A literature review is also used to obtain theoretical or secondary data in this research. The literature review involves researching books, literature, and official documents relevant to the research topic. The research results indicate that creativity in digital marketing plays a crucial role in achieving marketing success. Entrepreneurs must possess entrepreneurial creativity that enables them to create or modify new ideas in running their businesses. The steps in digital marketing assist companies in promoting and marketing their products or services more effectively. Another advantage is the ability to convey information to consumers more rapidly and efficiently regarding geographical reach and communication methods. This research has significant implications for companies looking to enhance their digital marketing performance. Companies can develop more effective approaches to achieve their marketing objectives by understanding the importance of creativity in digital marketing strategies. Additionally, the results of this research can serve as a foundation for further studies in this field and contribute to a better understanding of the role of creativity in digital marketing success.

Does soft shareholder activism hold hard consequences?

This study investigates the impact of soft shareholder activism, as reported in media narratives, on stock market performance using an EGARCH methodology. Focusing on US-listed firms, we analyse how news articles discussing shareholder activism, ranging from formal proposals to informal expressions of investor concern, affect stock market returns and volatility. Our findings reveal that approximately one-fourth of the companies highlighted in these reports experience significant stock market fluctuations coinciding with media coverage. These effects are notably pronounced in firms with higher market capitalisation and robust financial metrics (ROE and ROA) but lower ESG scores and negative leverage. The study also establishes a strong correlation between firm performance metrics, particularly ROE and ROA, and market reactions around news publication dates. This pattern suggests that the market responds more intensely to companies with higher performance levels. The research contributes to understanding shareholder activism’s indirect influence on market dynamics through media, offering insights for companies, investors, and policymakers in the evolving landscape of shareholder activism and the media’s role therein.

Concept of Titles and Its Relevance in Present Legal System

The title is a crucial aspect of the Indian criminal system, serving as a foundation for property possession and rights. It is a piece of criminal evidence or documentation that establishes ownership or interest in assets, property, or rights. In the current criminal framework, the title has significant implications for civil law, asset transactions, and financial activities. One of the primary functions of a title is to provide clear proof of ownership, conferring legal recognition, and protection of property rights. It serves as a tangible manifestation of possession, allowing people or entities to assert their claims over specific properties. Title documentation serves as an essential instrument for establishing and validating ownership, facilitating transactional transactions, and resolving disputes regarding property rights. In the Indian legal context, property titles are essential for facilitating economic growth, attracting investments, and promoting development projects. Investors, developers, and financial institutions rely on the integrity and validity of property titles to assess risks, allocate resources, and execute transactions. A clear and consistent system of name registration and transfer complements market performance, promotes investor confidence, and stimulates monetary interest. However, the concept of name in the Indian criminal system faces challenges such as disputes over a name, obstacles, fraudulent practices, and faulty documentation. These issues can lead to prolonged legal battles, financial losses, and uncertainties for the stakeholders involved. Therefore, there is an urgent need for comprehensive criminal frameworks, effective enforcement mechanisms, and dispute decision mechanisms to uphold the integrity of property titles. The Indian legal system has enacted several laws and policies to ensure the integrity and validity of property titles, such as the Transfer of Property Act, of 1882, and the Registration Act, of 1908. These guidelines prescribe methods for the transfer, registration, and enforcement of property titles, promoting the defense of ownership rights and stopping fraudulent practices.

The effect of market orientation and technology orientation on industry 4.0 technologies and market performance: Role of innovation capability

Today, businesses are facing increasing demands from the customers and strong competitive pressure. Firms must continuously deliver value and satisfy customer demands to survive and maintain growth in the market. In this regard, organizations are implementing Industry 4.0 (I4) technologies to satisfy customer requirements, deliver value and sustain in the market. This study examines how strategic orientations (market and technology orientation) influence firms to adopt I4 technologies, and how I4 technologies can help to deliver customer value and improve firm performance. To this end, the study posits that adoption of I4 technologies develops innovation capability, which can lead to desired performance outcomes (innovation and market performance). The proposed model is examined using survey responses from 154 US industrial firms. Findings show that market and technology orientation have significant effect on adoption of I4 technologies, and partial mediation effect of technology orientation between market orientation and adoption of I4 technologies. Further, I4 technologies help to build innovation capability, which improves performance outcomes. The study provides implications for managers in industrial firms with regard to understanding the key facets of I4 technologies.

The Effect of Customer Orientation and Business Networking on Marketing Performance Through Competitive Advantage (Survey of Culinary Msmes In Surakarta)

This study aims to analyze the effect of entrepreneurial orientation and business networks on marketing performance through the competitive advantage of SMEs. MSMEs are required to be able to adapt the business environment and communicate innovative products in marketing to be able to reach consumers and reach target markets and reduce costs for business continuity. This research is a survey. The research population is culinary MSMEs in Surakarta. Data collection using a questionnaire. The sampling technique uses accidental sampling, as many 96 culinary MSMEs in Surakarta. Validity test uses Confirmatory Factor Analysis (CFA), and Cronbach's Alpha for reliability test. Data analysis uses Partial Least Squares (PLS). The results of the study show that entrepreneurial orientation and business networks influence marketing performance through competitive advantage. Entrepreneurial orientation and business networking have a role in improving and marketing products and expanding markets, so that MSMEs can survive and perform well during a pandemic and can increase market growth in the process of economic recovery.

Dimensions of Entrepreneurial Orientation and Marketing Performance: The Moderating Effect of Market Turbulence

Purpose: This study is to understand how the marketing performance of used car showroom SMEs is related to the entrepreneurial orientation of used car showroom SME owners or managers as well as the moderating influence of market turbulence. Theoretical Framework: The key points and emphasizing the importance of understanding the dynamic relationship between entrepreneurial orientation, marketing performance, and market turbulence in the context of used car showroom SMEs. Methods: This study used quantitative research methods through surveys. The used car showroom SMEs analyzed are in the DKI Jakarta, Bogor, Depok, Tangerang and Bekasi Indonesia areas. Data was collected through questionnaires that had been compiled in a structured manner. Of the 290 questionnaires distributed, 289 returned questionnaires were used in data analysis. Analysis is carried out through exploratory factor analysis (EFA) and structural equation modeling (SEM). Results and Conclusion: Research findings show that innovativennes, proactive have an influence on product marketing performance (p < 0.05). Meanwhile, risk taking did not have a significant effect on marketing performance (p > 0.05). In addition, market turbulence moderates negatively the relationship between innovation and marketing performance, but market turbulence is unable to moderate the relationship between proactive and risk taking on marketing performance. The results of this study provide a new understanding for used car SMEs in Indonesia, especially in JABODETABEK. Research implications: The practical implication of this research is that in the used car showroom business, it is important for companies to develop dynamic capabilities that include innovation, proactivity, and readiness in take risks. Originality/value: The ability to understand the entrepreneurial orientation of SMEs will help them deal with uncertain market turmoil be it in competition, technological advancements, ever-changing customer preferences.

Structure and performance of cassava markets: challenges of food security and connecting small farmers to markets in Cameroon

Agrifood markets play a pivotal role in assuring national food security and improved welfare for smallholder farm families. However, the extent to which this is possible depends on the structure and performance of these markets. This study utilizes primary data collected from 326 cassava marketers operating in 15 markets to examine the structure and performance of the cassava market in Cameroon. We employ parametric and non-parametric techniques to determine the degree of market concentration and marketing performance of these cassava marketers. Our findings highlight a high market concentration with a Gini coefficient (GC) of 0.76 and 0.79 for wholesalers and retailers, respectively. This indicates that the cassava market is probably oligopolistic in structure. In addition, we reveal that average marketing efficiency is 14.20% and 87% for retailers and wholesalers, respectively. This indicates that retailers are relatively inefficient as compared to wholesalers. Furthermore, we observed that prices are set up in the markets according to the place of sale and the type of marketers. However, prices are influenced by factors such as transport, the quantity sold in on-spot markets, and the need for liquidity. In general, our results highlight that the region, type of marketer (wholesaler or retailer), and socio-economic factors account significantly for the variation of odds to participate in markets. Hence, to influence the dynamics of price on the consumers, it might be necessary to promulgate policies that could improve retailers' efficiency. This might be through the restructuring of retailers into cooperatives and associations which may permit retailers to access other critical resources.

Enterprise digital transformation's impact on stock liquidity: A corporate governance perspective.

The innovation in technology and economic growth, which are brought about by digital transformation in enterprises, will inevitably impact their performance in the capital market. Using a sample of Chinese A-share listed companies from 2012 to 2021, this study extensively examines the impact, mechanism, and economic consequences of enterprises digital transformation on stock liquidity. The research reveals that enterprises digital transformation can significantly improve stock liquidity. From the perspective of corporate governance, a further analysis indicates that the digital transformation of enterprises can improve stock liquidity by three mechanisms: easing financing constraints, improving the quality of internal control, and enhancing information disclosure. The results of the heterogeneity analysis indicate that the digital transformation of enterprises, combined with a high level of financial technology, developed financial markets, and policy guidance, has a significantly more significant effect on improving stock liquidity. The analysis of economic consequences reveals that the digital transformation of enterprises can lower the risk of a stock price crash and enhance the accuracy of analysts' forecasts, primarily by improving stock liquidity. This study offers empirical evidence from a micro-mechanism perspective that elucidates the spillover effect of enterprise digital transformation on the capital market. It provides insight into the impact of enterprise digital transformation on stock liquidity and offers theoretical guidance to promote the adoption of enterprise digital transformation across different countries and enhance stock liquidity in the capital market.

Market orientation and performance of smallholder tomato producers

Market orientation and performance of smallholder tomato producers

Green investments, green returns: exploring the link between ESG factors and financial performance in real estate

PurposeThe aim of this research paper is to analyze the connection between ESG performance and financial performance within the real estate sector. By focusing on ESG ratings and pillar scores as proxies for ESG performance, the study investigates how these factors impact both profitability and market indicators.Design/methodology/approachWith data sourced from over 680 publicly listed real estate companies, the research employs a fixed effects regression model to analyze the findings. By utilizing this method, the study can assess the impact of governance, environmental and social factors on both the accounting and market performance of real estate companies.FindingsThe outcomes of this study underscore a link between sustainability, particularly environmental aspects and financial performance. However, the study also reveals a contrasting result: governance factors are associated with adverse financial outcomes. Nevertheless, it is important to highlight the limitations as the results present a mixed picture with limited significant findings.Practical implicationsCompanies should prioritize improvements in environment to boost profitability, while they should carefully consider the costs and benefits associated with enhancing their governance structure.Originality/valueBy focusing on this industry and adopting a global perspective, the study addresses a gap in the literature. The research’s innovative approach to utilizing ESG ratings and pillar scores as proxies for ESG performance enhances its originality. Furthermore, the research’s identification of the differing impacts of environmental and governance factors on financial outcomes add novel perspectives to the discourse.

THE IMPACT OF MARKET ORIENTATION ON MARKETING PERFORMANCE: EXPLORING THE MODERATING ROLE OF COMPETITIVE ADVANTAGE

This research analyses the influence of market orientation and competitive advantage on MSMEs’ marketing performance, with competitive advantage as a moderating variable. The research methodology employs path analysis using Smart PLS software version 4.0 and involves 397 MSME owners in Jambi City, Jambi Province, Indonesia. The analysis results indicate that market orientation and competitive advantage significantly influence MSME marketing performance. Additionally, competitive advantage moderates, strengthening the relationship between market orientation and marketing performance. These findings have practical implications for MSME owners, suggesting that focusing on developing market orientation and competitive advantage can enhance their marketing performance. Furthermore, this study contributes to the theoretical understanding of factors influencing MSMEs marketing performance and encourages further research on elements that most impact competitive advantage. It also provides recommendations for policymakers to support enhancing MSME marketing performance through various supportive policies. However, this research has limitations, such as the lack of specific elements of market orientation with significant impacts and a need to better understand the moderation mechanism between market orientation and marketing performance through competitive advantage, which could be subjects of future research.

Effect of Digital Security Systems on Market Performance in 3-5 Star Rated Hotels in Nakuru County, Kenya

The study sought to assess the effect of digital security systems on hotel market performance in 3- 5-star rated hotels in Nakuru, Kenya. The research included a conceptual framework that showed the relationship between digital security systems and market performance. A descriptive research design was used to help evaluate the opinions of the target population, which included the staff and managers of the major departments within the hotels under study. Both closed and open-ended questionnaires were used for data collection. A census was done for all the managers while staff were selected using a cluster sampling technique. A total of 152 out of the 200 questionnaires that were issued were usable for the study. The data was analysed using both descriptive and inferential statistics. The findings of the study indicated a positive correlation between the utilisation of digital security systems and market performance. The study found that access control systems exert the most significant influence on the market performance of 3- 5 star rated hotels in Nakuru County compared to the other three variables under study. The study concludes that digital security systems are vital components contributing to the improvement of hotel performance. The study recommends stakeholders enforce digital security standards within the hotel sector and emphasise the importance of digital security systems to enhance guest safety. In addition, hotels should prioritise development of user-friendly systems. Further studies, as recommended by the study, can focus on the influence of digital security systems in different tourism sectors beyond hotels and include customers as the target population

The Effect of E-commerce Platforms, Digital Marketing, and User Experience on Market Reach and Competitiveness of Indonesian MSMEs

The complex relationships between digital marketing tactics, user experience, and e-commerce platforms are examined in this study, as well as how these relationships affect MSMEs' (micro, small, and medium-sized enterprises) ability to compete in the Indonesian market. Structural Equation Modeling with Partial Least Squares (SEM-PLS) is utilized in the study to analyze survey data obtained from 150 MSMEs in Indonesia. The adoption of e-commerce and market reach, competitiveness and effective digital marketing techniques, and user experience and overall market performance are all significantly positively correlated, according to the results. The report offers detailed insights into the digital tactics influencing MSMEs' success in the Indonesian business environment. It also offers recommendations for further research and real-world applications for companies and regulators.

Information Infrastructure and Environmental, Social, and Governance Performance of the Enterprise: A Quasi-Experimental Analysis

ABSTRACT Information infrastructure development substantially impacts the transformation of enterprises’ decision-making. Based on the “Information Consumption Demonstration City Construction” policy issued by the Chinese Ministry of Industry and Information Technology in 2016, we conducted a quasi-experiment to examine the effects and mechanisms of information infrastructure construction on the enterprise’s environmental, social, and governance (ESG) performance. Overall, information infrastructure construction was shown to substantially improve the ESG performance of these companies and exhibit a strong promoting effect on labor-intensive and state-owned enterprises. Regarding internal mechanisms, the information infrastructure has accelerated the digital transformation of enterprises and improved information efficiency, which is beneficial for suppressing opportunistic behavior. Regarding external mechanisms, information infrastructure development and ESG investment have jointly reduced corporate financing constraints, improving their credit market performance. These findings provide substantial practical evidence for promoting the construction of an information infrastructure from the perspective of enterprise governance transformation.

Effects and Channels of Smoking on College Students’ Labor Market Performance

This study investigates the impact of smoking on the labor market performance of college graduates, utilizing representative data from South Korea. To mitigate endogeneity concerns, we employ the average cigarette price during participants’ college years as an instrumental variable for smoking behaviors. The findings reveal a detrimental effect of smoking on the labor market outcomes of college students. Smokers are significantly less likely to secure employment, and if employed, they tend to earn lower salaries. Notably, these adverse effects are more pronounced among female students. Through a behavioral and human capital lens, we discern the mechanism by which smoking impairs labor market performance. While smoking may initially contribute to positive aspects such as enhanced social activities, subjective mental health, and psychological stability among college students, it is concurrently associated with lower academic achievement, impeding human capital accumulation. These results suggest that although smoking may yield short-term benefits, it undermines long-term human capital development. The implications advocate for governmental intervention to mitigate the negative consequences of youth smoking.

Marketing executives and corporate performance: From the perspective of marketing digitalization

This paper examines the impact of marketing executives on firm performance using the sample of China listed firms. The empirical study shows that marketing executives have a significant positive effect on firm performance, and explains the mechanism of the effect from the perspective of digital marketing and marketing performance. It is further found that the marketing executives has a more significant effect on corporate performance in firms with higher executive power, executive experience, and non-state. Finally, based on the “myopic marketing theory”, this paper investigates the long-term impact of executives’ marketing backgrounds and finds that marketing executives do not have a significant impact on the long-term value and innovation level of the company.