Market System Research Articles

An Experience on Capitalism in Post Covid-19 times: The Case of Vollepension Restaurants

Abstract: In 2024 many questions are made about the future of the Capitalist system. Extreme views as total anarchy and total dirigisme exist. However, practical examples of ways of going beneath and over the traditional market system based in supply, demand, price and quantity are scarce. It is in this context that the Vollepension experience on restaurants management in Austria is amazingly relevant. In this restaurant and for a certain time, during the Summer of 2023, products had no price, because "someone already paid your lunch before". This way of acting is called “Pay-it-First” (PIF) and has been already analysed in the core of the “Gift Economy”. In order to study this mentioned case, first we performed a literature review on SCOPUS database about the “PIF concept”, then we used published data in the internet about Vollepension and direct contacts with the restaurant to describe the experience, finally we discussed the case in the context of the theory We concluded that PIF is a very significant alternative to traditional capitalism and it might drive societies to a new and innovative way of managing Capitalism. This paper has the limitation of being centred in a single organisation although we mention other cases in the literature review. Finally we believe that researchers in management should pay attention to this innovative initiative as in the 21st century societies are trying to find alternative ways of living and existence.

Research on the effect of multiple credit ratings from the perspective of financial regulatory systems in Chinese bond market.

This paper, starting from the effects of financial regulatory policies, considers the interaction between Chengxin_Moody and Lianhe_Fitch with the dual rating system and the multi-rating system, constructs a new ordered Logit model, and attempts to explore the impact of the Notice, the dual rating system and the multiple rating system on the probability of Chinese corporate bond defaults, rating upgrades, rating downgrades, and the magnitude of credit rating migrations. This study compares the effectiveness of different rating regulatory systems. Using nine thousand two hundred and sixty-two data of Chinese corporate bonds as the research samples. Empirical analysis and robustness test reveal the following findings: (1) The issuance of the Notice has a significant positive effect on the implementation of both the dual rating system and the multiple rating system, with a greater impact on the implementation of the multiple rating system; (2) The issuance of the Notice, along with the dual rating system and the multiple rating system, can all reduce the probability of corporate bond defaults, with the multiple rating system showing the best preventive effect against corporate bond defaults; (3) The dual rating system is more effective in promoting rating agencies to adjust rating behaviors, accurately correcting corporate bond ratings and effectively alleviating the issue of rating inflation. Competition among rating agencies intensifies rating shopping; (4) Under the dual rating system, rating agencies are more likely to expand the magnitude of credit rating upgrades and downgrades, enhancing the differentiation between high-quality corporate bonds and junk corporate bonds; (5) The selection of rating information from Chengxin_Moody and Lianhe_Fitch can appropriately adjust the degree of flexibility or tightening in response to rating regulatory systems. Chengxin_Moody demonstrates a more sensitive reaction compared to Lianhe_Fitch regarding the rating regulatory systems. This study provides valuable references for the formulation and evaluation of the effectiveness of Chinese corporate bond rating regulatory policies.

Constraints Faced by the Farmers in the Production and Marketing of Onions in the Western Undulating Zone of Odisha, India

This paper aimed to investigate the limitations associated with onion farming in the western undulating agroclimatic zone of Odisha, specifically regarding production, marketing, and storage. The study employed a multi-stage purposive sampling technique. The state was divided into 10 zones based on agro-climatic characteristics, and the district from the western undulating zone, Kalahandi districts, was purposively chosen since many farmers in these regions, like others in Odisha, cultivate onions throughout the winter season. A total of 90 farmers (45 from Bhawanipatna block and 45 from Golamunda block) were selected at random and interviewed directly for the purpose of study. Furthermore, the location, climatic conditions, and soil are ideal for onion cultivation. Kalahandi was chosen in 2021–2022. According to the survey, labour shortages for weeding, ignorance of improved varieties, high labour costs, ineffective and expensive weedicides, high seed costs, etc. were the top five problems faced by onion growers. The main difficulties faced by onion growers during marketing included low prices during harvest, which were followed by sharp price fluctuations, high transportation costs, payment delays, a lack of market news and information, a lack of storage facilities, etc. in the research area. To ensure an effective produce marketing system, the government, developmental agencies, marketing boards, and NAFED should intervene by enhancing the market infrastructure at the taluk and district levels and supplying timely market information. Farmers may be able to overcome the issue of price fluctuations if government authorities intervene promptly and announce an extension or announcement of the government support price for onion crops.

A Call for Afrocentric Decolonial Endogenous Marketing and Public Policy Research and Practice: Toward Sustainable Peace and Well-Being in African Societies

Africa experiences one-third of all conflicts globally, resulting in the diminishment of human, social, and economic well-being; high levels of insecurity; poverty; and disrupted marketing systems. Drawing on the experiences of African countries, the article illuminates the ways in which the slave trade and, later, the colonization of the African continent fomented the social and economic convulsions that continue to erupt into continuing cycles of social conflict. Today these are manifested in the neocolonial influence of public policy on the continent by international organizations, funding bodies, and local and international institutions that control the public policy discourse and resources. The authors argue that if marketing systems are to enhance well-being and reduce social conflict, marketing policy makers need to contest failed “external to Africa” policy frameworks and look to endogenous policies better suited to contemporary African challenges. A case study of Rwanda illuminates how endogenous, “home-grown” decolonial and Afrocentric policy can create enduring peace and improve marketing systems and well-being. The authors call for research at the nexus of public policy and African marketing systems that adopts decolonized, endogenous, and Afrocentric perspectives to address this lacuna in marketing and public policy research and practice.

International and national regulatory system of the intangible assets market

As part of the study, it was determined that increasing the competitiveness of business structures due to the intellectualization of their trade and economic activities led to a significant increase in the volume of the world market of intangible assets. The growth of the world market of intangible assets is accompanied by an increase in the vulnerability of its objects from the point of view of possible violations of their rights. We have identified the following reasons as the basis for violations regarding intangible assets: the legal field regulating trade relations in the field of transactions with intangible assets is created by the national legislation of different countries, which may differ significantly; growing trade in counterfeit goods and piracy. It is shown that the main purpose of creating the Agreement on Trade Aspects of Intellectual Property Rights within the framework of the World Trade Organization was the elimination of disagreements regarding the trade aspects of intellectual property rights in the legislative systems of individual countries; the importance of this Agreement in the context of the further development of the world market of intellectual property objects consists in the creation of principles and standards regarding the existence, scope and use of intellectual property rights, as well as in the development of effective means of compliance with these rights. It was found that the further development of the market of intellectual property objects requires an increase in the effectiveness of legal support and the need to create new approaches to solving, first of all, legal and organizational problems of the regulation of intellectual property rights at the regional and national levels in connection with the expansion of opportunities for the use of objects of intellectual property rights in new high-tech areas, including in the conditions of global networks, as well as in connection with the emergence of new objects of intellectual property. It was concluded that the effectiveness of the system of protection of intangible assets is directly related to the existing legal framework, and the directions for further improvement of the legislative support for the protection of intangible assets in the field of international business should be considered as follows: definition of mechanisms for the protection of intangible assets in the field of information technology, first of all, improvement of normative and legal framework in the field of protection of intellectual property rights on the Internet; development of provisions on the protection of commercial secret rights and sanctions for appropriating the authorship of someone else’s intellectual property; development of a more sophisticated counteraction to the movement through the customs territory of the country of goods that violate intellectual property rights; creation of normative and legal regulation of issues related to the need to carry out valuation of the value of intangible assets.

Profit enhancement and imbalance cost reduction with solar PV-fuel cell-EV hybrid system in a wind-integrated day-ahead power market

Abstract In a wind-integrated deregulated network, the wind farm must intimate the power-generating capacity bids to the market controller at least one day before it begins operations. The wind farm's bid submissions are based on the estimated wind speed (EWS); nevertheless, slight differences between the real wind speed (RWS) and the EWS will result in penalties or incentives imposed by the Independent System Operator (ISO). This occurrence is known as the power market imbalance cost, and it has a direct influence on the system's profitability. To mitigate this effect, solar PV and fuel cell storage technologies are used with the wind farm to enhance system profit by offsetting the negative effects of the imbalance cost. Here, solar PV and fuel cells are used to function in the required time i.e. operate in the charging mode when the RWS is greater than the EWS and in discharging mode when the EWS is greater than the RWS to balance the power supply in the grid as to fulfill the power bidding conditions. Furthermore, the study focuses on minimizing potential system risks, which have been assessed using several risk assessment tools such as Value-at-Risk (VaR) and Cumulative Value-at-Risk (CVaR). The work was conducted using an IEEE 14 bus test system. Initially, the solar PV-fuel cell system supplies power to meet local needs, and the remaining energy is sent to the grid to maximize the system's profit. Electric vehicles (EVs) have also been incorporated to maximize the system economy in more quantities and to reduce the system risk further as compared to the solar PV-fuel cell operation. Three different optimization methods, i.e. AGTO (Artificial Gorilla Troops Optimizer Algorithm), ABC (Artificial Bee Colony Algorithm), and SQP (Sequential Quadratic Programming), were used in a comparative analysis to assess the effectiveness of the proposed approach.

Academic Mobility as a Strategic Vector of Quality Training of Future Specialists in the Era of Globalisation and Development of Educational Innovations

The article reveals the essence and analyses the conceptual foundations of academic mobility through the prism of its impact on the quality of educational services in modern universities. The close connection between academic mobility, globalisation processes and the rapid development of educational innovations aimed at integrating national higher education systems into a unified European educational area and the global knowledge society is emphasised. It stresses that academic mobility is one of the most important features of the modern education system and an effective tool for improving the quality of human capital. Based on analysis of academic literature and legal documents, the essence of the terms «mobility» and «academic mobility» is presented and the types and forms of academic mobility are defined. It is noted that one of the indicators of successful development of the global market of educational services is international academic mobility, participation in which contributes not only to improving the quality and competitiveness of the national higher education system in the global market of educational services, but also to improving mutual understanding between peoples and cultures, optimising educational intercultural communication, creating conditions for professional and personal self-realisation, formation of highly qualified specialists capable of acting effectively in a dynamic world. The article describes international academic exchange programmes aimed at supporting research and innovation in the field of education and science.

Three Rival Versions of Markets and the Common Good: Spontaneous, Instituted, and Civil

AbstractHow do markets principally contribute to society, and do they all contribute in the same ways? The logic of common and private goods provides much-needed clarity in grappling with the constitution and contribution of markets. The root challenge of the market is that impersonal private exchange cannot directly promote any common goods, so it appears only capable of promoting the flourishing of society “by accident,” as it were. As responses, the “spontaneous” approach regards both markets and politics as unintended orders of private ends, while a “instituted” model subordinates thin exchange to the thick communal goals of sustaining politics, and the “civil” economy claims that market exchange is itself a form of fraternal solidarity around common goods. All three rival models capture some exchange contexts, but none works for all markets. I advocate a meta stance of “market pluralism,” acknowledging that different markets’ moral architectures could match any of the three models, in line with empirical findings that different industries and market systems vary significantly in their modes of coordination, human relations, and major objectives.

Cost Efficiency and Profitability of Papaya Marketing Channels in North-eastern Karnataka, India

The study on the economic analysis of papaya marketing in North-Eastern Karnataka, focuses on identifying the existing marketing system for papaya and analyzes the marketing cost, margin, price spread and marketing efficiency of different marketing channels. The study was conducted in four districts of North-Eastern Karnataka region and employed multistage random sampling technique to gather data from 80 papaya cultivators and 20 market intermediaries. Three major marketing channels were identified, each showing distinct cost structures and preferences among farmers. The findings highlighted that channel I was the most preferred among farmers, but it also exhibited the highest price spread compared to other channels. Channel III recorded the highest producer's share in the consumer's rupee (60.60%) and was identified as the most efficient channel based on both the Shepherd's approach (3.84) and the Acharya and Agarwal approach (1.54). The selection of a marketing channel significantly affects profitability and the distribution of risk among stakeholders. It is suggested that, due to the higher marketing costs incurred by farmers, they often opt to sell through pre-harvest contractors (PHCs). Therefore, it is recommended that these intermediaries be regulated through the Agricultural Produce Market Committee (APMC) to streamline the supply chain and improve market access for papaya growers.

Implementation of the diagnostic capabilities of the CMOS sensor in the NIR environment, using 1070 nm interference filter and a conventional IR-pass filters set

NIR reflectography with silicon sensors (CMOS) is commonly acquired with 780 nm band-pass filters that allow the acquisition of clear images and high shutter speeds, while maintaining a low equipment cost. In this way, however, acquisition between 1000 nm and 1150nm-where the silicon sensor is still formally infrared sensitive-is in fact overhelmed by the stronger sensitivity in the infrared spectrum portion between 780 nm and 980 nm. Coupling a 1070 nm (± 5 nm) interferencial filter to an 87C nm IR pass filter (FHWH 850 nm) acquisitions in this portion of the NIR spectrum were carried out, witnessing a outstanding increase in visibility of underdrawings and pentimenti. A practical test of the effectiveness of the filters system mounted on the Nikon D800 IRUV was made, comparing the results with those obtained by the “Osiris” InGaAs detector by Opus Instruments. The comparison was performed on the “Deposition” (oil on panel) by Antonio Semino (1485–1555) in the collection of the Accademia Ligustica of Genoa, highlighting a significant qualitative proximity between the results obtained with the interference system and those with InGaAs detector, compared to the conventional acquisition with single IR long-pass filter.In addition, the 1070nm+87C filter system was used to increase the recognition capability of azurite pigments. This procedure widens the possibilities of first-impact diagnostics by means of low-cost and market available imaging systems based on commercial CMOS IRUV cameras..

A study on fish marketing system in Kolkata and adjoining areas

A study on fish marketing system in Kolkata and adjoining areas

Determinants on the selection of rural households’ financial assets in China: marketization or financial literacy?

Financial literacy is an indispensable factor in household asset allocation, but market-oriented reforms are also an external factor that cannot be ignored. Using data from the 2013 and 2019 China Household Financial Survey (CHFS), this paper investigates whether the individual’s ability or the market system hinders rural households’ participation and asset investment in the financial market. Findings reveal that both marketization and financial literacy positively affect residents’ financial activities, but the roles of the two are not the same. Financial literacy is an essential factor in increasing participation in the financial market. Moreover, marketization and financial literacy significantly affect rural financial asset allocation decisions in four ways: changing risk preference, using the Internet, alleviating liquid constraints and increasing education expenditure on offspring. Besides, households’ financial behaviors exhibit a stronger correlation with improved network infrastructure, robust legal frameworks, favorable business credit environments, higher social media penetration, and enhanced human capital.

Penentuan Strategi Pegembangan UKM Tempe Pak Fadli Menggunakan Metode Analisis SWOT dan Boston Consulting Group (BCG)

Micro, small, and medium enterprises (MSMEs) are an important part of the Indonesian economy to improve people's welfare. Pak Fadli's Tempe UKM located in Parerejo Village, Purwodadi District, faces the problem of fierce competition in the tempeh industry and the lack of information obtained by business actors regarding modern technology in the marketing system. Using SWOT Analysis and BCG Matrix, this study aims to find out internal and external factors and what strategies can be used for the growth of Mr. Fadli's tempe business. The results showed using a SWOT Analysis that Pak Fadli's Tempe SMEs had a higher total strength score (4.08) than a total weakness score (3.17), which placed him in Quadrant I. This shows that Pak Fadli's Tempe SMEs should use all their strengths to take advantage of the best opportunities. According to Matrix BCG's calculations, Pak Fadli's Tempe SMEs are in Quadrant III (Cash Cows) with a total market share value of 1.03 and a market growth value of 2.4%. Because it has a large market share but is in a slow-growing sector. Increasing market share and expanding distribution networks is one strategy that can be used. With this research, it is hoped that it can provide recommendations for development strategies and the right marketing strategy for Pak Fadli Tempe SMEs to be able to compete with their competitors.

K-콘텐츠를 활용한 지역관광 활성화 방안 : 춘천 사례를 중심으로

By focusing on the case of Chuncheon, this study explores the local governments' strategies to revitalize local tourism by utilizing K-contents. The study examines Chuncheon’s geographical characteristics, natural resources, cultural resources, and industrial assets within the broader context of K-contents which also includes local content. In-depth interviews with experts and focus group interviews with consumers were conducted. The analysis utilized the 'Local Content-Based Tourism Industry Competitiveness Evaluation Model' which focuses on four key elements: cultural tourism content resources, K-content-based tourism market, strategy and business implementation system, and supporting environment (i.e., infrastructure). The results revealed that while Chuncheon possesses diverse natural and cultural resources, there is a need for improvement in linking and utilizing these assets. The study highlights the necessity of developing and promoting contents that align with current tourism trends and the preferences of the MZ generation. Additionally, it calls for an enhancement of infrastructure, such as accommodation and transportation, to better connect major tourist spots within the city. To foster the cultural and tourism content industry, the study also emphasizes the urgent need to establish governance to systematically support development efforts. The research proposes a five-theme strategy to revitalize tourism in Chuncheon: regional characteristics, culture and festivals, filming location spots, leisure sports, and food. This approach provides practical implications by offering a comprehensive perspective on the current situation, challenges, and revitalization measures for Chuncheon tourism.

Farmer Assessment of the Effectiveness of Empowerment Strategies to Increase Farming Profits

Farmer empowerment is crucial for agricultural development, yet its effectiveness often depends on how well strategies align with farmers' needs. This research aims to determine the effectiveness of the farmer empowerment strategies according to the farmer assessment. The research employs a qualitative multi-case study approach, utilizing in-depth interviews and focus group discussions with farmer group chairmen and members. The study reveals varying levels of effectiveness across seven government-implemented empowerment strategies. These three strategies comprised developing agricultural product marketing systems, consolidating agricultural land, and providing access to science and technology were unfamiliar to participants. The organic fertilizer training strategy was deemed effective in improving competence and profits. Extension services were considered effective in enhancing competence, profits, and productivity. However, institutional strengthening strategies were seen as ineffective in developing farmer groups into cooperatives. Financing facilities through People's Business Credit (PBC).

Analisis Promotion Mix Terhadap Pemasaran Layanan Kontruksi pada PT Khafi Multi Perkasa

This study aims to determine the results of the analysis of the promotion mix on the marketing of goods and services as well as the forms of construction services that exist at PT. Khafi Multi Mighty. The type of method in this research is a qualitative type with a descriptive approach that is directed to be explained in greater detail about the actual situation that occurs in the field. This study also conducted direct interviews addressed to the Director of the company PT. Khafi Multi Mighty. This study shows the results that the promotion mix has not been implemented by employees so that it does not have a significant effect on service marketing, this is evidenced by their marketing method which only uses three components contained in the promotion mix. So that the services offered have not yet reached the desired point of satisfaction because the marketing system that is being implemented is not perfect.

The relationship between mental health and employment: a systematic review of cohort studies

Abstract Background Knowledge on the bi-directional association between employment status and mental health is important, as it affects multiple dimensions of our daily lives, both at the individual and societal level. Given that the mental health status and employment situation of individuals are likely to change over time, there is an important need for longitudinal data to better understand causality patterns in this association and the underlying mechanisms. Methods A systematic review was carried out based on the PRISMA guidelines in 3 electronic databases: PubMed, Embase, and PsycInfo. Studies eligible for inclusion were cohort studies, involving the general population, and assessing the relationship between employment status and mental health longitudinally. Results In total, 3,733 studies were identified and 36 met the inclusion criteria. The eleven studies focusing on the social causation hypothesis highlighted the negative long-term impact of unemployment and unstable employment on mental health. Four studies observed mental health improvements upon re-entering employment, although limited and in more specific contexts. The fourteen studies focusing on the health selection hypothesis found a lower probability for individuals with mental health problems in finding and maintaining employment. Finally, the eleven studies assessing the two hypothesis simultaneously found that mental health problems were both a consequence of and risk factor for poor employment status, although some important moderating factors, such as gender differences, influence the direction and strength of the association. Conclusions This review underscores the bi-directional association between the employment status and mental health of individuals, highlighting the need to develop targeted prevention (e.g. mental health support in the workplace) and interventions strategies (e.g. supported employment programs) in both the mental health and labor market systems. Key messages • The bidirectional link between employment and mental health highlights the need for concurrent responses to break the vicious cycle between poor mental health and social exclusion. • To reduce the clinical and social burden of mental health problems, gender differences must be taken into account in mental health and employment support practices and policies.

Exploring the Drivers, Challenges, and Opportunities of Supply Chain Technology Adoption for Small and Medium Enterprises (SMEs) in Malaysia

Small and Medium Enterprises (SMEs) have a crucial impact on the Malaysian economy, making major contributions to the functioning of the supply chain. Integrating supply chain technology has become a crucial element in enhancing the efficiency and competitiveness of SMEs in Malaysia. During recent years many developing and developed countries have witnessed the expansion of markets and supply chain networks; in the progress of these market and supply systems SMEs find various complexities when they are implementing or improving the technology integration of their supply chain. The current body of literature often addresses the adoption of technology in a general manner or within larger organizations, resulting in a significant gap in study about the specific circumstances and requirements of small and medium-sized enterprises (SMEs). This study employs a rigorous methodology that analyzes relevant papers to examine the drivers, challenges, and opportunities for adopting supply chain technology among SMEs in Malaysia. By implementing supply chain technology, Malaysian SMEs can increase their performance in many areas of key performance indicators. This includes improving efficiency, optimizing inventory management, achieving cost savings, enhancing customer service, and increasing market competitiveness. It is believed that the findings of the study can be useful for managers of SMEs, policymakers, and interested stakeholders. This will enable SMEs to navigate the challenges of adopting technology more effectively and enhance global competitiveness.

Economic Program Policy BUMNIn Increasing Economic Growth In Indonesia

Economic program policies towards state-owned enterprises (BUMN) in economic growth in Indonesia have become commonplace in various countries. The main reason for implementing economic program policies is to improve and streamline the performance of BUMN so that it can achieve its founding targets, namely the provision of public services for the community and profits for the state. However, this policy is often rejected due to concerns that the role of the state is minimal and the role of the private sector is too dominant, which refers to a free market system so that the interests of society are not guaranteed. The method used in this research is qualitative research with a descriptive-analysis method using relevant secondary data and normative/literature assessment using a statutory approach and a conceptual approach. The aim of this research is to provide a comprehensive understanding of economic program policies by BUMN in Indonesia, both from a historical perspective and applicable positive law. The research object is BUMN (State-Owned Enterprises). This research concludes that the majority of listed BUMNs are able to improve business performance and profit generation. Economic programs are not the only solution for state company management, but they must always be able to reform and innovate in terms of future BUMN business strategies.

Meningkatkan Kapasitas Kelompok Tani Sejati Melalui Manejemen Branding dan Strategi Pemasaran Digital Produk Pupuk Organik

The conventional marketing system for agricultural products has not been able to increase sales of products produced by farmer groups. This community service activity intervention aims to empower the Sejati Farmers Group through the socialization of branding management and digital marketing strategies for organic fertilizer products. This activity was carried out in July 2024 at the Sejati Farmers Group, Lendang Nangka Utara Village, Masbagik District, East Lombok Regency, with 18 participants. The service method used participatory and personal communication. This training resulted in a 25% increase in knowledge and a 15% increase in organic fertilizer sales in the three months after the training. In addition, this activity provides alternative solutions to environmental and social problems, as well as improving the welfare of the local community.