Market Quality Research Articles

Technology and automation in financial trading: A bibliometric review

In this bibliometric study, the significant transformations in the financial sector brought about by automation and technological advancements from 1984 to 2022 are explored. A total of 863 articles is analyzed, and a consistent upward trajectory in research focused on fast trading technologies and algorithmic strategies is identified. The key findings reveal that the research is grouped into five thematic clusters, ranging from algorithmic trading and machine learning to systemic risks associated with high-frequency trading and the impacts of algorithmic trading on market quality. This study encapsulates the evolving landscape of financial markets, emphasizing emerging trends in cryptocurrencies and machine learning, which will continue to shape future research directions. In conclusion, five macroareas and ten specific future research areas are proposed.

EFFECTS OF FERTILIZATION REGIMENS ON THE FRUIT YIELD AND QUALITY OF CUCUMBER CULTIVAR ‘DZHERELO’

Abstract. This is research relevant because the effects of different fertilization regimens on the fruit yield and quality of cucumber cv. ‘Dzherelo’ grown in an irrigated vegetable–forage rotation in the Left–Bank Forest–Steppe of Ukraine have been studied. Purpose: to evaluate the effects of different ways of optimizing nutrition regimens on the fruit yield and quality of cucumber cv. ‘Dzherelo’. Methods. Field, computational and statistical. Results. The effects of different fertilization regimens have been studied: mineral, organic, organic–mineral, resource–saving (local mineral fertilization), and complex with a calculated dose of mineral fertilizers and trace elements (foliar fertilizing with Reakom – R – cucumbers). The most effective fertilization regimens increasing the fruit yield and quality of cucumber cv. ‘Dzherelo’ grown in an irrigated vegetable–forage rotation have been selected. The nitrate content in cucumbers was shown to increase to 89.0–93.4 mg/kg of fresh weight after mineral fertilization, which was higher than the nitrate content after the other tested fertilization regimens but did not exceed the maximum permissible level of nitrates in outdoor–grown fresh cucumbers (MPL = 150 mg/kg). Conclusions. It was found that N, P and K from fertilizers were the most effectively absorbed by cucumber plants with broadcast mineral fertilizer at N90P60K60. In this variant, the utilization coefficients were as follows: nitrogen – 54%, phosphorus – 18.8%, and potassium – 51.8%. High yields (20.3 and 18.3 t/ha), marketability (87.7 and 88.0%) and fruit quality (dry matter content = 4.32–4.66%; total sugar content = 2.28–2 .35%; vitamin C content = 11.93–12.47 mg/100 g; nitrate content = 82.6–89.0 mg/kg) were recorded when cucumber cv. ‘Dzherelo’ was fertilized with broadcast mineral fertilizers at N200P210K200 with additional foliar fertilization with Reakom – R – cucumbers complex fertilizer or fertilized with organic–mineral fertilizers (66 t/ha of manure + broadcast N90P60K60), respectively.

Exploring the Relationship between Sustainability Performance, Sustainable Competitive Advantages, and Firm Performance in Small and Medium-sized Enterprises of Pakistan

Small and medium-sized firms (SMEs) play a critical role in every economy, contributing significantly to gross domestic product (GDP) and employment creation. However, tackling the negative environmental effect of SMEs is critical to their overall performance. Achieving sustained success necessitates a mix of elements that create a competitive advantage and assist the accomplishment of triple-bottom-line objectives. While previous research has explored business performance and sustainability individually, there is minimal understanding of how sustainability performance impacts firm performance, with sustainable competitive advantages serving as a mediator. Our continuing research aims to fill this knowledge gap by investigating the influence of sustainability performance on firm performance, particularly in SMEs businesses, and by investigating the possible mediating role of sustainable competitive advantages. We assess sustainability performance across three dimensions: economic, environmental, and social. Financial and market performance, quality performance, and innovation performance are used to evaluate firm performance. We use partial least squares structural equation modeling (PLS-SEM) to analyze data from 370 SMEs firms in Pakistan. Our findings give empirical support for the Resource-Based Theory stressing dynamic capacities and provide useful insights for SMEs on effective resource allocation and the implementation of sustainable practices. However, this study has limitations, including its focus on SMEs in Pakistan, which may limit the generalizability of the findings to other regions and sectors. Future research should consider broader geographic and industry contexts to validate these results. This work makes a theoretical and managerial contribution to improving corporate performance.

Purchasing Decision of Gen Z Reviewed by Viral Marketing and Food Quality in Noodle’s Restaurant

Purchasing Decision of Gen Z Reviewed by Viral Marketing and Food Quality in Noodle’s Restaurant

Market analysis and quality management of healthy food products for vegetarians

Market analysis and quality management of healthy food products for vegetarians

Pengaruh Social Media Marketing, E-Wom Dan Kualitas Pelayanan Terhadap Keputusan Pembelian (Study Di Kaekopi Lamongan)

This study aims to determine the effect of Social Media Marketing, E-WoM and Service Quality on Purchasing Decisions with a quantitative approach. The population in this study were Kaekopi Lamongan customers and the sample used was 180 respondents. The sample technique used purposive sampling using the Hair formula. Based on the results of the validity and reliability tests of the Social Media Marketing, E-WoM and Service Quality variables, it can be concluded that they are valid and reliable. Based on the results of hypothesis testing, it can be concluded that the variables of Social Media Marketing, E-WoM and Service Quality partially or simultaneously have a significant influence on Purchasing Decisions at Kaekopi Lamongan. The Service Quality variable is the most dominant independent variable in influencing the dependent variable.

Impact of Ownership-Location-Internalization (OLI) Paradigm and Investment Development Path (IDP) on Gravity Model of Foreign Direct Investments in Eastern Europe and Central Asia (EECA) Region

This study investigates the impact of OLI paradigm and the IDP on the gravity model of FDI in EECA region. Using panel data from 1995 to 2017, the analysis employs POLS, Fixed Effects, and Random Effects estimation methods to examine the determinants of FDI inflows. The results highlight the significance of the receiving country's GDP and labour market quality as the most consistent and statistically significant factors influencing FDI inflows. The distance between source and receiving countries also exhibits a negative relationship with FDI flows. Other variables, such as the source country's GDP, tertiary education, institutional governance, taxation, infrastructure, foreign exchange rates, and labour costs, do not show consistent or statistically significant effects across the estimation methods. The Fixed Effects model demonstrates the highest explanatory power, suggesting its suitability for capturing the variation in FDI inflows. These findings contribute to understanding the determinants of FDI and provide insights for policymakers and investors. Countries aiming to attract FDI should focus on promoting economic growth, improving labour market conditions, and reducing perceived distances between source and receiving countries.

Limited or Biased: Modeling Subrational Human Investors in Financial Markets

Human decision-making in real-life deviates significantly from optimal decisions made by fully rational agents, primarily due to computational limitations or psychological biases. While existing studies in psychology and economics have discovered various types of human limitations and biases, there lacks a comprehensive framework to transfer these findings into models of subrational investors in financial markets. In this study, we introduce a unified framework that use reinforcement learning (RL) to incorporate five different aspects of human subrationality including bounded rationality, myopic behavior, prospect-biased behavior, optimistic and pessimistic behaviors. Unlike the data-driven approaches, our model is trained based on a high-fidelity multi-agent market simulator, which is not limited by the availability of subrational investor trading data. Our framework demonstrates investment behavior that is characteristic of each type of subrationality in hand-crafted market scenarios. We evaluate the Profit and Loss (PnL) of different types of subrational investors, and use SHAP value analysis to reveal the driving factors in their decision-making process. Finally, we explore the impact of subrationality on market quality regarding liquidity, volatility, and efficiency. Our experiments indicate that bounded-rational and prospect-biased human behaviors improve liquidity but diminish price efficiency, whereas human behavior influenced by myopia, optimism, and pessimism reduces market liquidity.

Analysis of Customer Satisfaction With Non-Subsidized Fuel at Pertamina SPBU In Pelalawan Regency – Riau Province

This study aims to develop a new conceptual model of how green marketing, e-WOM, and service quality affect brand image and how it affects customer satisfaction. Customer BBM Pertamax series and PERTAMINA Dex products. This research can fill the limitations of previous research and the research gaps on customer satisfaction. This quantitative study collected data through questionnaires distributed to customers of BBM Pertamax series and Pertamina Dex products in Pelalawan Regency, Riau Province. The sample calculation used a formula that produced 360 respondents using a purposive random sampling approach. A Likert-scale questionnaire was used to collect data, and SmartPLS 4.0 was used to process it. The findings include that green marketing has a positive and significant effect on brand image; e-wom has a positive and significant effect on brand image; service quality has a significant positive effect on brand image; green marketing has a positive and significant effect on customer satisfaction; e-wom has a positive but not significant effect on customer satisfaction; service quality has a significant positive effect on customer satisfaction. Brand image can significantly mediate the effect of green marketing on customer satisfaction; the brand image can significantly mediate the effect of service quality on customer satisfaction; the Brand image can mediate the effect of e-WOM on customer satisfaction; and brand image has a positive and significant effect on customer satisfaction.

Pengaruh Digital Marketing dan Kualitas Pelayanan terhadap Keputusan Pembelian di Online Shop Dujourexcloset

The aim of this research is to determine Digital Marketing (X1) Service Quality (X2), purchasing decisions (variable Y) so with the title (the influence of Digital Marketing and Service Quality on Purchasing Decisions at the Dujourexcloset Online Shop). The research method uses a quantitative approach which is associative with a population in this study of 9,533 in purchasing decisions. The sample used in this research was a sampling technique with the technique taken, namely purposive sampling and using the Slovin formula, which is a formula used to find a sample size that is considered capable of representing the entire population and using a Maximum Margin of Error of 0.10 or 10% so that it can be obtained. The sample was 99 respondents. The partial digital marketing test results have a significant effect on purchasing decisions with a calculated t value > t table or (7,699 > 1.661). This is also reinforced by the ρ value < Sig.0.05 or (0.000 < 0.05). The results of service quality partially have a significant effect on purchasing decisions with the calculated t value > t table or (6,684 > 1.661). This is also reinforced by the ρ value < Sig.0.05 or (0.000 < 0.05). Digital marketing results and service quality simultaneously influence purchasing decisions with a calculated F value > F table or (15,498 > 3.09), this is also reinforced by a ρ value < Sig.0.05 or (0.000 < 0.05). Keywords: Digital Marketing, Purchasing Decisions, Service Quality.

Systematic Literature Review : Evaluasi Dampak Stakeholder Setelah Revitalisasi Pasar Tradisional di Indonesia

This study examines the impact of traditional market revitalization on stakeholders in Indonesia through a systematic literature review. The revitalization of traditional markets aims to increase competitiveness, improve physical conditions, and promote local economic growth. The method used was a systematic literature review in which 10 articles were selected from a Google Scholar search. The results show that revitalization has positive impacts, such as improved market cleanliness and convenience, but also negative impacts, such as reduced income for merchants and accessibility issues. Factors hindering the success of revitalization include inadequate communication, limited resources, resistance from traders and inappropriate market design. To optimize revitalization outcomes, a holistic assessment is needed that involves all stakeholders in planning, implementation and evaluation. Socialization, education and active community participation are also important to ensure the sustainability of the revitalization program. In summary, revitalizing traditional markets has great potential to improve market quality and support the local economy, but requires careful planning and the involvement of all stakeholders to ensure long-term success.

The effects of teacher tenure on productivity and selection

I examine productivity and selection effects of K-12 teacher tenure by leveraging variation from New Jersey’s TEACHNJ Act, which extended the pretenure period. Using a difference-in-differences design, I evaluate the productivity effects of tenure by comparing fourth-year tenured and pretenured teachers. I find math value-added declines but English language arts value-added and ratings remain unchanged. Focusing on labor market effects, I compare teachers hired before and after TEACHNJ within the same district and experience level. TEACHNJ disproportionately increased male and Black teacher turnover, as the policy was tied to subjective evaluation criteria. TEACHNJ did not impact the quality of the teacher labor market as measured by value-added, though higher rated teachers often filled new vacancies. This matches principal–agent models where schools only use ratings to guide personnel decisions. Overall, tenure generates small declines in math value-added, while reforms tied to subjective evaluations disproportionately increase male and Black teacher turnover.

The Influence of Green Marketing, Packaging, and Service Quality on Consumer Loyalty Through Consumer Satisfaction of Es Teh Indonesia (Indonesian Iced Tea) in Kudus

The Influence of Green Marketing, Packaging, and Service Quality on Consumer Loyalty Through Consumer Satisfaction of Es Teh Indonesia (Indonesian Iced Tea) in Kudus

EXPERIENTIAL MARKETING, SERVICE QUALITY: MEDIASI PERCEIVED VALUE TERHADAP CUSTOMER TRUST BATIK AIR

This research is motivated by the people who currently still need air transportation. This is marked by the many current airline services such as Batik Air, Lion Air, Citilink, Garuda Indonesia, Air Asia and so on. Batik Air is one of the airlines that offers a full service system that is of interest to the public, as evidenced by the Top Brand Index for 2020-2022 Batik Air occupies fourth place. This study aims to determine the effect of experiential marketing and service quality on customer trust through perceived value as an intervening variable. The sample used in this study was 150 samples with a purposive sampling method. The data used is primary data obtained by distributing questionnaires to users of the Batik Air airline in Surabaya. The data analysis technique used is SEM with the LISREL program. The results of this study indicate thet experiential marketing has a positive and significant effect on perceived value; service quality has a postive and significant effect on perceived value; perceived value has a positive and significant effect on customer trust; experiential marketing and service quality have a positive and significant effect on customer trust through perceived value. This indicates that positive experience and service quality will be trusted by consumers will receive perceived value.

EFFECTIVENESS OF DIGITAL MARKETING TO INCREASE PURCHASE INTEREST OF CIREBON CITY CAFE VISITORS

This study is intended to determine the influence of Digital Marketing through Store Atmosphere on the buying interest of Café visitors in the city of Cirebon. The population used in this study was café visitors in the city of Cirebon. The sampling technique uses Incidental Sampling. In testing this data using analysis with Structural Equation Modeling- Partial Least Square (SEM-PLS), with respondents amounting to 200. The results show that Buying Interest is partially positive and significant which is influenced by 17% Digital Marketing and Store Atmosphere partially affects Buying Interest by 81%. This proves that Buying Interest is a link between the Digital Marketing variable and the Digital Marketing variable. This research provides theoretical implications for references for future research related to Digital Marketing, Store Atmosphere and Buying Interest, especially in Cafes. The implication is in the form of Café suggestions so that in the future it can improve the quality of Digital Marketing and also Store Atmosphere for Purchase Interest to increase.

Impacts of analyst coverage initiation on market quality

ABSTRACT We examine whether the initiation of financial analysts’ coverage leads to improved stock-price informativeness and increased market liquidity using the difference-in-differences methodology. The average value of daily total trading volume is significantly higher after than before initiation. The increase in trading volume is higher in the KOSDAQ market than in the KOSPI market, irrespective of investor type. Nonetheless, this increased rate is observed to decline more rapidly over time in the KOSDAQ market. When an analyst initiates coverage on a stock, both price informativeness and market liquidity improve, with different markets driving each effect. The enhancement of price informativeness is significant in the KOSPI, whereas the increase in market liquidity is primarily driven by firms listed on the KOSDAQ.

Exchange market share, market makers, and murky behavior: The impact of no-fee trading on cryptocurrency market quality

This study examines the impact of zero fees on market quality. This issue is examined using a natural experiment in Bitcoin provided by the Binance exchange, which eliminated maker–taker trading fees for market participants in July 2022. I find that although zero fees increase investors’ willingness to trade, thereby prima facie increasing liquidity, their elimination encourages market makers to widen the bid–ask spread and provide a shallower market depth, which in turn reduces liquidity. Liquidity providers realize gains at the expense of liquidity takers, suggesting the emergence of new potential forms of unethical financial market conduct. Notably, despite the removal of trading fees, total transaction costs increased for customers. These outcomes, coupled with the boost in exchange market share, raise concerns about price integrity and investors’ protection in the highly unregulated crypto environment, in turn implying that the elimination of maker–taker fees is harmful to the market.

Evolution of Chinese futures markets from a high frequency perspective

AbstractHigh‐frequency trading (HFT) and algorithmic trading (AT) have attracted considerable attention from the academic and regulatory communities, often highlighted for their contributions to enhancing market liquidity. However, the distinctive market framework in China may alter the operational dynamics of intraday trading, indicating that traditional HFT/AT paradigms might not fully apply. This study investigates the evolution of market quality in China from an HFT/AT perspective, using publicly available high‐frequency data for six futures products traded on the Shanghai Futures Exchange and the Dalian Commodity Exchange. Our findings reveals improvements in contract continuity and liquidity diversification from a daily perspective. Furthermore, the intraday analysis—especially following the increased availability of more granular data to market participants—suggests the emergence of more sophisticated algorithmic traders who enhance liquidity provision and contribute to reduced slippage costs for investors and hedgers.

Identification and Validation of Quantitative Trait Loci Associated with Fruit Puffiness in a Processing Tomato Population.

Physiological disorders impact the yield and quality of marketable fruit in tomato. Puffy fruit caused by cavities inside the locule can be problematic for processing and fresh market quality. In this paper, we used a recombinant inbred line (RIL) and three derived processing tomato populations to map and validate quantitative trait loci (QTLs) for fruit puffiness across environments. Binary interval mapping was used for mapping the incidence of fruit puffiness, and non-parametric interval mapping and parametric composite interval mapping were used for mapping severity. Marker-trait regressions were carried out to validate putative QTLs in subsequent crosses. QTLs were detected on chromosome (Chr) 1, 2, and 4. Only the QTL on Chr 1 was validated in progeny from subsequent crosses. This QTL explained up to 22.5% of the variance in the percentage of puffy fruit, with a significant interaction between loci on Chr 2 and 4, increasing the percentage of puffy fruit by an additional 15%. The allele responsible for puffy fruit on Chr 1 was inherited from parent FG02-188 and was dominant towards increased incidence and severity. Marker-assisted selection (MAS) for the QTL on Chr 1 was as efficient as genomic selection (GS) in reducing the incidence and severity of puffy fruit, despite the potential contribution of other loci.

Comparative evaluation of the biochemical composition of fruits Malus spp.

To determine and compare the content of biochemical compounds in fruits of nine cultivars of M. domestica Borkh. and ten of Malus spp. (given in the research materials), to select the most promising for use in further breeding and recommend for use in various directions, considering the biochemical complex of characters, taste, and marketable qualities of fruits. The dry matter content, a sum of sugars, titratable acids, tannins, and ascorbic acid was evaluated for two years according to generally accepted operating methods. The large-fruited apple cultivars were found to have values of dry matter (11.2-22.8%) and small-fruited (15.5-30.9%); the total amount of sugars in large-fruited cultivars varies from 6.7 to 10.9%, in small-fruited from 7.5 to 12.7%; the amount of ascorbic acid in fruits of M. domestica fruits averaged from 6.0 to 12.2 mg.100 g-1, in crabapple from 6.6 to 22.8 mg.100 g-1; titratable organic acids in fruits of large cultivars ranged from 0.74 to 1.67%, in small ones from 1.50 to 2.34%; tannins content was found in the range from 0.06 to 0.52% in high-fruited cultivars and from 0.29 to 2.61% in lower-fruited ones. Comparative evaluation of the biochemical composition of fruits between large-fruited and small-fruited species and cultivars of apple trees showed that representatives of Malus spp. are more promising for use in breeding and industrial purposes. The dynamics of the decrease of dry soluble substance's weight and the increase of ascorbic acid content in apple tree fruits were also noted.