Market Pressures Research Articles

Multiple prizes in tournaments with career concerns

We introduce career concerns into rank-order tournaments and offer a novel explanation for the pervasiveness of multiple prizes. We argue that career-concerned individuals, already facing market pressure to perform, will be reluctant to participate in winner-take-all competitions. To entice them and maximize performance, the organizer promises a softer competition through multiple prizes. We show that the minimum number of prizes is single-peaked in the population's talent variance and increasing in publicly disclosed ranks. We also examine entry fees, talent pre-screening, and prize budget as design tools for tournaments, along with prize allocation.

Research and Practice on Improving the Quality of Graduation Design through Professional Mentorship

Graduation design is a significant part of the undergraduate education stage, and the quality of graduation design of undergraduate graduates is an essential indicator of the effectiveness of undergraduate education. However, with the influence of comprehensive factors such as the exponential growth of human knowledge and the year-on-year increase in the pressure of the job market, undergraduates have paid significantly less attention to graduation design, which has led to a continuous decline in the quality of graduation design, which in turn has manifested itself in the decline of the quality of undergraduate education. Combined with the professional mentorship system in undergraduate education, this paper investigates the effective methods to improve the undergraduate graduation design under the professional mentorship system and puts them into practice and the results show that the methods in this paper can effectively improve the quality of undergraduate graduation design.

Foreign Exchange Market Pressure, Exchange Rate and Trade Balance in Nigeria: Is There Evidence of the J-Curve Effect?

The paper examined the relationship between the pressure in the exchange market, exchange rate, and trade balance in Nigeria to ascertain whether or not the J-Curve effects exist. The investigation was anchored on the Marshal-Lerner and the J-Curve theories using annual time series data from 1986 to 2021. The Structural Vector Autoregressive (SVAR) technique was employed, and the findings revealed that the pressure in the exchange market exerts a strong contemporaneous positive effect on the exchange rate in the country. Also, the findings showed that the exchange rate has a strong contemporaneous negative effect on the trade balance. Furthermore, the long-run results indicated that the exchange rate has a positive but weak effect on the country’s trade balance. Based on these findings, it was concluded that the relationship that exists among foreign exchange market pressure, exchange rate, and balance of trade suggests the potentiality of the J-Curve effects in the economy. The study recommended that local production of goods and services in Nigeria should be strengthened so that the depreciation of the naira would improve the trade balance. In the event of naira depreciation, domestic consumers could redirect their demand to the consumption of locally produced goods and services. Also, local production, especially in manufacturing and agricultural processing, should be encouraged, and the quality of the products be enhanced for competitive exportation to improve the trade balance in the country. The policy implication is that policymakers can leverage naira depreciation as a policy tool to enhance Nigeria’s balance of trade.

Methodological Approaches to Teaching Behavioral Economics

Key words: new behavioral economics, models of behavioral economics, rational behavior, paradoxes, the effect of control (endowment effect), games of justice The economy is a living organism because it is managed by an economic man, but the assertion that human behavior is purely rational is rejected by modern researchers. As rational and irrational components of human choice move into the economy, they significantly influence market relations. To better understand the essence of people as subjects of the economy, it is necessary to thoroughly understand their economic behavior, to identify the reasons and consequences of making the certain economic decision. Based on the findings of the researchers in the field of behavioral economics, subjects of market relations cannot be manipulated by major market players or pressure from the majority, thereby controlling and successfully froming their behavior. The researches of leading scientists in the field of behavioral economics, their developed business games and teaching methodologies were studied in article. Teaching behavioral economics, as a separate university course, will help students acquire more up-to-date knowledge and skills.

Optimizing care delivery in expanding health systems: Views from clinical leaders

IntroductionIn response to intense market pressures, many hospitals have consolidated into systems. However, evidence suggests that consolidation has not led to the improvements in clinical quality promised by proponents of mergers. The challenges to delivering care within expanding health systems and the opportunities posed to surgical leaders remains largely unexplored. MethodsSemistructured interviews with 30 surgical leaders at teaching hospitals affiliated with health systems from August–December 2019. Interviews were transcribed verbatim and coded in an iterative process using MaxQDA software. Attitudes and strategies toward redesigning health care delivery across expanding systems were analyzed using thematic analysis. ResultsLeaders reported challenges to redesigning care delivery across the system ranging from resource constraints (e.g. hospital beds and operating rooms) to evolving market demands (e.g., patient preferences to receive care close to home). However, participants also highlighted that system expansion provided multiple opportunities to increase access (e.g. decant low-complexity care to affiliated centers) and improve quality of care (e.g. standardize best practices) for diverse populations including the potential to leverage their health system to expand access and improve quality. ConclusionsThough evidence suggests that hospital consolidation has not led to redesigned care delivery or improved clinical quality at a national level, leaders are pursuing varying sets of strategies aimed at leveraging system expansion in order to improve access and quality of care.

The digital imperative: Institutional pressures to digitalise

This paper addresses the ‘digital imperative’ and how organisations are pressured to digitalise. In comparison to previous studies that often emphasise market pressures to digitalise, this paper focuses on institutional pressures exerted on organisations that lack competitive pressures. By drawing upon institutional theory, which considers the social embeddedness of organisations, it acknowledges that social expectations and approval can shape the way organisations respond to technological change. Based on a study of digitalisation within the water sector, where the perceived benefits of digital technologies are advocated under the label of ‘digital water’, it shows that there are isomorphic processes in place through which the idea of digital water is legitimised. Hence, water utilities are under institutional pressures to digitalise which, in turn, can influence how they respond to digitalisation.

Does Greater Transparency Discipline the Loan Loss Provisioning of Privately Held Banks?

Whether transparency helps or hurts the stability of the financial system is an unresolved question. Recent trends have seen a decline in disclosure requirements especially for small and privately held banks. To assess the consequences of such regulations, we investigate the relationship between the transparency of loan loss provision disclosures and the provisioning practices of privately held banks. We study a unique change in disclosure regulation under German banking law which introduces mandatory disclosures of loan loss provisions. Using proprietary data provided by the national supervisor, we are able to observe provisioning practices before and after disclosure becomes mandatory. Our findings suggest that bank managers use loan loss provisions to a lesser extent for income smoothing once they are required to disclose their accounting choice. At the same time, provisions become timelier and loan portfolio quality improves. The change comes in the absence of capital market pressure and highlights the role of depositors and public pressure in the monitoring and disciplining of bank managers. Overall, these findings support the view that bank transparency helps establish financial stability.

Substantive transformation or strategic response? The impact of a negative social responsibility performance gap on green merger and acquisition of heavily polluting firms

How to promote heavily polluting firms to achieve substantive green transformation is an important issue. Using the data from Chinese samples, this paper investigates the influence of corporate social responsibility (CSR) performance feedback on the decision and performance of green merger and acquisition (GMA). We find that a negative CSR performance gap is positively related to the likelihood of GMA. From the perspective of market pressure, the mediating roles of negative investor sentiment and media coverage are revealed. Furthermore, the above promotion effect is only reflected in firms with high financial slack, with high public environmental attention, or in the growth stage. Regarding GMA performance, we find that GMA driven by a CSR performance gap merely promotes strategic green innovation, but it promotes substantive green innovation when firms are under high-intensity government environmental regulation. This study provides new insights on how to promote firms to engage in GMA and improve GMA performance.

Understanding the relationship between institutional pressures, supply chain integration and the adoption of circular economy practices

This paper explores the role of institutional pressures and supply chain integration in the adoption of Circular Economy practices. Using a Delphi-like approach and leveraging on a panel of 30 experts in the field of Circular Economy, this study aims to gain additional insights into how coercive, normative, and mimetic pressures can drive the implementation of circular supply chains. The findings reveal a hierarchy of institutional pressures, with coercive market and regulatory pressures having a greater impact compared to normative and mimetic pressures. Additionally, the study identifies various responses to these pressures, illustrating different trajectories towards the implementation of Circular Economy practices. Furthermore, the research investigates the role of supply chain integration. Generally, a higher level of supply chain integration can amplify the effect of institutional pressures, promoting the adoption of incremental Circular Economy practices. However, it is noteworthy to mention that supply chain integration may also hinder the adoption of more radical Circular Economy approaches, favouring the retention of linear supply chains.

Self-adhesive and conductive hydrogels and their applications in bioelectronics

At present, the market pressure strain sensors mainly include intrinsic conductivity, composite conductivity, and flexible metal conductivity. Most of the strain sensors can met various basic requirements such as strain sensitivity and mechanical properties. However, biocompatibility and the ease of use are still areas to be explored and improved. This paper proposes a novel strategy to fabricate a kind of self-adhesive and conductive hydrogel using natural biomacromolecule gelatin, tannic acid (TA) and conductive polymer PEDOT: PSS. The sensor is biocompatible, nontoxic, and can be directly attached to the skin without the use of adhesive tape, and sufficiently large electrical signal response can be collected under stress. The presence of tannic acid forms a cross-linking network with the gelatin in the organic hydrogel, which can effectively increase the toughness (which can reach 203.62 kPa/m3). PEDOT: PSS provides the conductivity for the hydrogel, and hydrogel with 0.3wt% PEDOT: PSS content have a conductivity of about 2.1ms/cm. Therefore, this study found the possibility of making a flexible electronic element by using a composite of PEDOT: PSS, gelatin, and TA.

아시아 4개국의 국제자본 통제정책을 고려한 새 외환시장 압력지수에 관한 연구

Purpose - An exchange market pressure index (EMP) exhibits not only exchange-rate fluctuations but also the changes of government tools to manage exchange rates. Therefore, it is useful to estimate hidden pressures that exist in foreign exchange markets. This study suggests a new EMP that might have more information on foreign exchange markets than other indices.
 Design/Methodology/Approach - We include a capital-flow management (CFM) measure as another component in our new EMP to consider the role of CFMs for managing exchange rates. This new index is then applied to the four Asian countries of South Korea, Malaysia, Philippines, and Japan to analyze their foreign exchange markets.
 Findings - We found that the new EMP sends stronger signals before and during the currency crises than existing indices. Moreover, the volatility of emerging market EMP is stronger than that of advanced countries because the former group changes CFM policies more frequently than the latter . These findings suggest that the new EMP might describe exchange rates and pressures in foreign exchange markets better than other indices.
 Research Implications - To our best knowledge, this study is one of few attempts to incorporate CFM measures into an EMP to consider the effectiveness of CFMs in managing exchange rates.

Corporate Social Responsibility (CSR) dalam Embiayaan Pembangunan Non APBN

Corporate Social Responsibility (CSR) as a form of company responsibility towards the environment and society by protecting and contributing to the community. The implementation of CSR is driven by market pressure and legal regulations. This research uses a descriptive-analytical method with a qualitative approach by collecting data through literature studies and document analysis related to CSR and its implementation in the context of companies and governments. CSR can assist the government in addressing budget limitations in socio-economic development. CSR programs, such as education, can contribute to sustainable development and improve community welfare. An example of a government-company partnership is the training program provided by JNE to micro-business owners in Jember, aimed at developing their businesses in the digital era. JNE also has CSR programs focused on environmental preservation, community empowerment, and education. The implementation of CSR not only provides financial benefits to the company but also contributes to the surrounding environment and enhances the company's reputation.

Dampak Deklarasi Capres-Cawapres terhadap Dinamika Pasar Modal di Indonesia:

This research aims to analyze the impact of the declaration of the presidential and vice presidential candidates on the dynamics of the capital market in Indonesia. The method used is quantitative analysis with a multiple dummy variable regression approach. The results prove that the declaration of the presidential and vice presidential candidates has a significant impact on the dynamics of the capital market in Indonesia. The movements of conventional stock indices (Composite and LQ45) and sharia stock indices (JII70 and ISSI) are significantly influenced by the declaration of the presidential and vice presidential candidate pairs for the 2024 Election, with quite strong correlations (Composite 0.6242, LQ45 0.6805, JII70 0.7968, and ISSI 0.5181). The declaration of the Anies-Muhaimin pair (Capres1) is positively correlated with the movement of the Composite stock index, LQ45, JII70 and ISSI. Meanwhile, the declaration of the Ganjar-Mahfudz pair (Capres 2) and the Prabowo-Gibran pair had a negative correlation with the movement of the Composite stock index. Research facts show that the capital market responded positively to the declaration of pair number 1 (Anies-Muhainin). On the other hand, the capital market responded negatively to the declarations of pair Number 2 (Prabowo-Gibran) and pair Number 3 (Ganjar-Mahfudz). The capital market was under greater pressure after the Prabowo-Gibran pair was declared. Market pressure is greater on Prabowo-Gibran compared to the Ganjar-Mahfudz pair and the Anies-Amin pair.
 Keywords: presidential and vice presidential candidate declaration, conventional capital market, sharia capital market

Visitor-oriented: A Study of the British Museum's Visitor-centred Operations Strategy

Today's era of global commercialization has made visitors the primary recipients of services and patrons of museums. The British Museum has chosen a visitor-centered operation strategy despite the challenges of inadequate financial investment and competitive market pressure. The British Museum has achieved "secondary development" and sustainable development, which is worth learning from, through four operational models: online exhibitions to build brand image, offline services to break even, cultural and creative peripherals to generate sustainable income, and multilateral cooperation among regional clusters.

Market share, investor horizon, and stock crash risk

AbstractOn a 1990–2016 sample of 78,594 firm‐year observations, we document strong evidence of lower stock crash risk for more prominent firms (those with greater market share). This evidence is consistent across various proxies for stock crash risk, raw versus instrumented market share, and ordinary least squares versus logistic regressions. We also find that the market share's suppressing effect on stock crash risk is weakened by the relative prevalence of long‐term investors. This moderating effect of investor horizon suggests the quasi‐monopolistic insulation from market pressures as the explanation for the reduction in stock crash risk among more dominant firms.

Enhanced management information disclosure responsibilities and corporate risk-taking: Evidence from the accountability system for errors in China

Enhancing management's responsibility for information disclosure can improve a firm's risk-taking by improving its resource allocation efficiency, but it can also reduce firm risk-taking by increasing managers' risk aversion. After the regulation change from the China Securities Regulatory Commission to require the listed companies to establish an accountability system for material errors in information disclosure of annual reports (hereinafter referred to as the “accountability system for errors”) in late 2009, the risk of misreporting became substantially higher. This paper explores how the accountability system for errors with strengthened management's responsibility for information disclosure affects corporate risk-taking. We find that the accountability system for errors significantly reduces corporate risk-taking, especially idiosyncratic risk, and the impact is greater in firms with short-term CEO tenure and high-tech firms. The improved information environment and increased market pressure are the mechanisms by which the accountability system for errors reduces corporate risk-taking. Further research shows that after the policy change, firms reduce R&D expenditures and output and are more likely to diversify risk through fixed asset investment and diversified mergers and acquisitions. After establishing the accountability system for errors, the higher level of risk-taking will lead to lower CEO compensation and a higher probability of CEO dismissal. This paper enriches the research on corporate governance reform related to strengthening management responsibility. Our research also provides references and guidance for relevant regulatory authorities and listed companies in emerging markets to improve their corporate governance.

Avant-Garde and Kitsch in María Blanchard’s Neo-Cubism

Abstract The exceptionality of the women artists who achieved recognition within the circles of the avant-garde in the first decades of the twentieth century involved a number of performative strategies to avoid the risk of being confined to the category of ‘women painters’. The case of María Blanchard, a Spanish painter integrated in the School of Paris, exemplifies the problematics faced by women working in the avant-garde. Her trajectory from synthetic Cubism to neo-Cubist figuration follows the pattern of many of her male contemporaries working under the sociopolitical and market pressures in the post-war period, but the simultaneous assimilation of and ironic distance from the prevailing aesthetic ideologies is a distinctive feature of her style shared by other women artists. As Cubism became mainstream and began to lose its subversive power, Blanchard’s interest in challenging conventional artistic discourses and hierarchies found expression in kitsch aesthetics.

Female venture capitalists on boards and firm innovation in China

ABSTRACT This paper empirically examines the representation of female venture capitalists (VCs) on boards and how they exert substantial influence on firm innovation performance in China. We first identify a positive association between female VCs’ board participation and firm innovation, implying that Chinese female VCs contribute to growing resource commitments and greater success in innovation through quality board services in portfolio firms. We then show that firms with female VC board directors exhibit a lower adverse effect of managerial myopia, capital market pressure, and product market competition on innovation activities. These results are robust to the use of instrumental variable (IV) estimations, subsamples, and alternative variable definitions.

The ‘how’ for sustainability: Answering market pressure through green strategy and green production

Research aims: This study aims to examine the influence of market pressure on green strategy and green production while also looking at its impact on MSMEs' sustainability. The authors also investigate the indirect influence of market pressure on green production through the mediating role of green strategy.Design/Methodology/Approach: This study was carried out on batik craft, fashion, and convection MSMEs oriented to the green concept in West Java Province, with a number of samples of 185 MSMEs. The data obtained were then analyzed using the structural equation modeling technique with SmartPLS software.Research findings: The results of this study demonstrated the positive influence of market pressure on green strategy and green production, and both influenced MSMEs' sustainability. Furthermore, green strategy has been proven to have a positive influence on green production and could mediate the influence of market pressure on green production.Theoretical Contribution/Originality: This study contributes to the literature by widening the antecedent of green strategy, green production, and MSMEs sustainability from the external side, namely market pressure, which is rarely elaborated.Practitioners/Policy Implications: Managers and owners of batik craft, fashion, and convection MSMEs must prepare themselves to answer the calls for sustainability that come from their stakeholders, such as the market and government. Green strategy and green production must be incorporated into their business to achieve sustainability.Research Limitations/Implications: This study has not yet considered the existence of moderating variables, such as firm size, government regulation, or organizational competitiveness. These additional variables can be a sign for firms to understand when the time is to implement their strategy to achieve sustainability according to the underlying conditions of the moderators.

Promoting sustainable development: Multiple mediation effects of green value co‐creation and green dynamic capability between green market pressure and firm performance

AbstractThe need for organizations to safeguard and advance environmental sustainability has recently become imperative due to mounting pressures from various stakeholder groups. However, a significant research gap remains regarding how these pressures influence enterprises' green practices and performance. The aim of this study is to examine the impact of green market pressure exerted by customers and competitors on firm performance, taking into account the multiple mediating effects of green value co‐creation and green dynamic capability. Questionnaire survey data collected from 274 high‐tech manufacturing companies in the Yangtze River Delta of China were used to test the proposed relationships. By testing the mediation effects based on stakeholder theory and dynamic capability view, the results show that green market pressure positively affects firm performance, while both green value co‐creation and green dynamic capability play as an individual mediator between green market pressure and firm performance. Moreover, green value co‐creation and green dynamic capability sequentially mediate the link between green market pressure and firm performance. These findings provide valuable suggestions for improving firm performance under the background of environmental protection.