Market Volume Research Articles

Modeling the Volatility of Bitcoin Returns Using EGARCH Method

The development process in financial markets give rise to the emergence of various financial instruments and cryptocurrencies, which are the newest tools of this process, are trying to integrate into the system. Even though the use of crypto-currencies for investment and speculation has increased, limited information on the market leads to high level of volatility in price and return. Therefore, this study aims to analyze the volatility dynamics of the returns of Bitcoin, which is the cryptocurrency with the largest market volume, using the weekly data set for 2013:04-2020:09 period. In this context, Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH) model is employed to investigate the asymmetric volatility, which refers to the asymmetric effects of positive and negative shocks. The results of the analysis show that the leverage effect applies to Bitcoin returns. In other words, the asymmetric effect between good and bad news is revealed. Moreover, the fact that the parameter of the volatility resistance has a high value reflects that the asymmetric past period shocks have a significant effect on the current period conditional variance

Occupational Exposure to Diisocyanates in the European Union.

ObjectivesDiisocyanates are a chemical group that are widely used at workplaces in many sectors. They are also potent skin- and respiratory sensitizers. Exposure to diisocyanates is a main cause of occupational asthma in the European Union. To reduce occupational exposure to diisocyanates and consequently the cases of diisocyanate-induced asthma, a restriction on diisocyanates was recently adopted under the REACH Regulation in the European Union.MethodsA comprehensive evaluation of the data on occupational exposure to the most important diisocyanates at workplaces was made and is reported here. The diisocyanates considered are methylene diphenyl diisocyanate (MDI), toluene diisocyanate (TDI), and hexamethylene diisocyanate (HDI), accounting for more than 95% of the market volume in the EU. The exposure assessment is based on data from Chemical Safety Reports (CSRs) of REACH Registration Dossiers, workplace air monitoring data from Germany, from the UK Health and Safety Executive (HSE), and literature data relevant for the EU, and the USA.ResultsOccupational exposure to diisocyanates is particularly relevant in: (i) C.A.S.E. applications (Coatings, Adhesives, Sealants, Elastomers), (ii) production of polyurethanes (PUs) (e.g. slab-stock foam), (iii) handling of partly uncured PU products (e.g. cutting, demoulding, spray application of foam), and (iv) when diisocyanates/PUs are heated (e.g. hot lamination, foundry applications/casting forms). Ranking of the reported data on inhalation to diisocyanate exposure at workplaces (maximum values) leads to following order: (i) HDI and its oligomers in coatings, (ii) MDI in spray foam applications, (iii) TDI in manufacture of foam, (iv) TDI in manufacture of PUs and PU composite materials, (v) TDI in adhesives, (vi) MDI in adhesives, (vii) MDI in manufacture of PUs and PU composite materials, (viii) TDI in coatings, (ix) MDI in manufacture of foam, and (x) HDI in adhesives.

Comparative analysis of sustainability measures in the apparel industry: An empirical consumer and market study in Germany

The pressure on the apparel industry to make its products more sustainable is growing. Concrete measures have hardly been taken so far, also because they aim to avoid consumption which reduces profits. Studies mostly examine impacts on the environment, but not how the market volume can remain at a maximum for producers. To uncover direct market effects from sustainability approaches, this study asked 500 German consumers about their willingness-to-pay and preference order for three different measures, namely “slowing in consumption”, “recyclability of petrochemical clothing” or its “production from bioplastics”. An outdoor trekking jacket served as test object, and influences from sociodemographic and latent variables, as sportiness and environmental awareness, were measured. The results were mapped in a market model from which the output volume was derived. It was found that interest in the topic of plastics-containing outdoor clothing was rather determined by the application. This increased with the sportiness of the respondents (r = 0.13; p = 0.003), but not with their personal environmental awareness. Consent to bioplastics use did not depend on the level of experience, but older consumers appreciated this option more (p = 0.027). Only 20% of the respondents favoured slowing, 26% bioplastics, but 53% recycling of petroplastics. Therefore, research should investigate recyclability, policy should support this measure, and companies should practice take-back and reuse in new clothing. Consumers can maintain fast consumption and would even accept higher prices.

PRIVATE HEALTH SECTOR PREFERENCES IN TREATMENT OF HYPERTENSION IN INDIA: EVIDENCE FROM HYPERTENSION DRUGS MARKET DATA

Objective: In India, there are an estimated 200 million adults with high blood pressure. National and international guidelines recommend calcium channel blockers (CCB), diuretics, angiotensin converting enzyme inhibitors (ACEI) or angiotensin receptor blockers (ARB) for first line treatment of uncomplicated hypertension, while beta-blockers (BB) have been relegated to second-line treatment. As the private sector provides 70% of out-patient care in the country, we assessed private health sector preferences of antihypertensive medications using market data. Design and method: Sales of all antihypertensive formulations in India from 2016–2018 were analysed, using a large nationally representative dataset for the private sector pharmaceuticals market. In addition to analysis at the National level, data for five states was analysed to determine any inter-state variations. Results: The Indian hypertension drug market grew at a compounded annual growth rate of 6.9% from 2016 to 2018 with a total of 21,066 million tablet or capsule sales in 2018. Two-drug single pill combinations (SPCs) had the highest market share in 2018, with 36% of market volumes, followed by CCBs (18%), BBs (16%), ARBs (14%), diuretics (5%), ACEI (3.6%), and three-or-more-drug SPCs (2.8%). Among two-drug SPCs, amlodipine/atenolol (9.8%) was the most preferred, followed by telmisartan/hydrochlorothiazide (4.1%) and amlodipine/telmisartan (3.8%). There were inter-state variations in the market share of antihypertensive drugs. In four states, two-drug SPCs accounted for approximately 40% of all antihypertensives sold (range 38%-42%). This was followed by BBs as the second most preferred drug class in two states (range 18%-19%), while CCBs were preferred in the other two states (range 16%-18%). In the fifth state, CCBs (25%) were most preferred, followed closely by BBs (21%). Amlodipine/atenolol was the most preferred molecule in two states, amlodipine in another two states and telmisartan in the fifth state. Conclusions: Despite changes in standard hypertension treatment guidelines, evidence from pharmacy sales data indicate variable treatment practices in the private health sector in India, with a preference for beta blockers. This study highlights the need to improve hypertension care quality through private sector engagement strategies including sensitisation, regular training programmes and possibly provider incentives for evidence-based practice.

Synthesis of Biobased Phloretin Analogues: An Access to Antioxidant and Anti-Tyrosinase Compounds for Cosmetic Applications.

The current cosmetic and nutraceutical markets are characterized by a strong consumer demand for a return to natural products that are less harmful to both the consumers and the environment than current petrosourced products. Phloretin, a natural dihydrochalcone (DHC) found in apple, has been widely studied for many years and identified as a strong antioxidant and anti-tyrosinase ingredient for cosmetic formulations. Its low concentration in apples does not allow it to be obtained by direct extraction from biomass in large quantities to meet market volumes and prices. Moreover, its remarkable structure prevents its synthesis through a green process. To overcome these issues, the synthesis of phloretin analogs appears as an alternative to access valuable compounds that are potentially more active than phloretin itself. Under such considerations, 12 chalcones (CHs) and 12 dihydrochalcones (DHCs) were synthesized through a green Claisen–Schmidt condensation using bio-based reagents. In order to evaluate the potential of these molecules, radical scavenging DPPH and anti-tyrosinase tests have been conducted. Moreover, the UV filtering properties and the stability of these analogs towards UV-radiations have been evaluated. Some molecules showed competitive antioxidant and anti-tyrosinase activities regarding phloretin. Two compounds in particular showed EC50 lower than phloretin, one chalcone and one dihydrochalcone.

Analisis Digital Marketing Penjualan Baju Brand Matahari Di ICH Danareja

ICH Danareja describes home industry players engaged in the sale ofclothing brand. The implementation of the sale ofclothing matahari brandof ICH Danareja tried was with anstore system offlineand online marketing through social media. The case experienced by ICH at this time was the least method of sellingclothing matahari brandthrough promotional media facilities. The average sales in 2018 per month are only around 300 pcs of clothing produced from conventional and online marketing with a total income of IDR. 15,000,000/month. This situation is quite low because it is fitting for the sales target of 500 pcs of clothing and has not targeted the use offacilities digital marketingas well as indicating depreciation in sales volume by 40% in 2016, 45% in 2017 and 50% in 2018. Research on the problems studied clothing sales can be improved in the manner of the Boston Consulting Group. The result of the level of clothing sales volume of the matahari brandan attractive energy development market of 0, 03%, the total development of the market share is 0, 6%, the level of development of product sales reaches 504 pcs per month. So that it can fulfill the sales target of 500 pcs of clothes per month. Next, analyzing benchmarkingthat refers to the strategy canvas, the price advantage of ICH is relatively standard and affordable, the lowest price of IDR. 35,000.

TRADING STOCK MARKET INDICES. A SIMPLE APPROACH

In this article we will present a simple model that can be used by the people that do not have profound financial knowledge and, despite that, could be tempted to try to obtain gains on different financial markets without paying a professional. In fact, the model presented here is developed on some ideas that we presented before in an article on the sports betting industry, adapted to the financial markets. The general idea that we will present in detail in this article is that someone can start and stop trading market indices looking at just one indicator that can be found everywhere: the trading volume. The position that should be taken is, in our opinion, in the opposite way of the last trend that that was ended by the high market volume. In the end, the following article represents just a case study made on the general principles presented here taking into consideration a concrete market. We will try to present the model that we developed on a very well-known and highly traded index, the DJIA (Dow Jones Industrial Average) even if the origin of this index is, as almost every trader knows, american. The reason we will do that is the fact that the traders from the whole world can obtain gains (or losses) on transactions made on DJIA even if they trade from the European Union or other countries that exist in our world so, the gains or losses obtained by the trades we mentioned before can contribute to the value of the traders economy (in our case to the value of EU’s economy).

Assessment of the potential of the financial market of the Krasnodar Territory in the context of financial service providers

The purpose of the study is to identify the contours of the potential of the financial services market in the Krasnodar Territory in the context of suppliers in order to determine the vector of further market development. The article examines the dynamics of organizations engaged in financial and insurance activities, assesses the institutional provision of the banking services market, represented by the number of insurance entities in dynamics in recent years, analyzes the volume of insurance fees and payments, analyzes the number of organizations and the volume of the microfinance market. Scientific novelty lies in unlocking the potential of the financial services market in the Krasnodar Territory. As a result, the key problems and growth vectors of the studied market were identified as a strategic imperative for the socio-economic development of the territory.

Use of Mathematical Methods for the Biosafety Assessment of Agricultural Crops.

In Russia and around the world, there are important questions regarding the potential threats to national and biological safety created by genetic technologies and the need to improve or introduce new, justified, and adequate measures for their control, regulation, and prevention. The article shows that a significant volume of the global market is occupied by five major transgenic crops, and producers are ready to switch to crops with an edited genome that has been approved in the United States, Argentina, and other countries. We propose a qualitatively new approach to the risk assessment of edited plants, “Safe Design,” and we have also developed an extremely important, fundamentally new approach to the development of methods that combine next-generation sequencing (NGS) and Bioinformatics for the assessment of the crop import biosafety. The proposed mathematical approach provides a detailed analysis of the possible insertions of DNA fragments into the genome of edited crops and a clarification of their biological significance. The developed method can be used in the rapid screening of plants for the presence of potentially dangerous genes, viral sequences, and nonspecific promoter sequences.

Vitamin A Fortification Quality Is High for Packaged and Branded Edible Oil but Low for Oil Sold in Unbranded, Loose Form: Findings from a Market Assessment in Bangladesh.

Although mandatory fortification of oil with vitamin A is efficacious, its effectiveness can be compromised by suboptimal compliance to standards. In this study, we assessed (1) the availability of oil brands across the eight divisions of Bangladesh, (2) fortification quality (the extent to which vitamin A content is aligned with fortification standards) of oil brands and producers and (3) the market volume represented by available edible oil types. We visited different retail outlets in rural and urban market hubs to ascertain available oil brands and bulk oil types and collected samples. We used high-performance liquid chromatography to quantify average vitamin A content and compared them to the national oil fortification standards. Among the 66 packaged brands analyzed, 26 (39%) were not fortified, and 40 (61%) were fortified, with 28 (42%) fortified above the standard vitamin A minimum. Among the 41 bulk oil type composites analyzed, 24 (59%) were not fortified, and 17 (41%) were fortified, with 14 (34%) fortified below and 3 (7%) fortified above the standard minimum. Vitamin A fortification is high for packaged and branded edible oil but low for oil sold in unbranded, loose form. As bulk oil makes up a large proportion of the oil market volume, this means the majority of the oil volume available to the population is either not (25%) or fortified below the standard requirement (39%). Regulatory inspections of producers selling bulk oil should be prioritized to support and incentivize the industry to make all oil traceable and fortified to standard.

ИССЛЕДОВАНИЕ ФАКТОРОВ РОСТА РОССИЙСКОГО ФАРМАЦЕВТИЧЕСКОГО РЫНКА

The domestic pharmaceutical market is of great strategic importance for ensuring national security: the drug supply of the country and, ultimately, the health of the population depend on the level of development of the industry and its autonomy. Under the current conditions, the key factor in the development of the domestic pharmaceutical market is import substitution, the achievement of which is a strategic long-term goal of the industry. If before the events of 2014, the import substitution strategy was regarded as a benchmark, then the change in the political situation has actualized this issue, making it paramount. The study analyzed the indicators of the volume and capacity of the domestic pharmaceutical market in comparison with the main socio-economic indicators of the country, characterizing the standard of living of the population, identified the main trends and factors. It has been established that the pharmaceutical market has been steadily growing over the past 4 years, although it is developing in leaps and bounds, as a result of which, by 2019, the total value of the market has reached 1,843 billion rubles. Evaluation of data in foreign currency showed similar trends in the variation of market volumes, and the growth rates of the pharmaceutical market in the entire study period are higher than the growth rates of the average per capita income of the population and other socio-economic indicators reflecting the standard of living of the population. This indicates that the current growth trends in the pharmaceutical market are not due to inflationary processes in the economy, but are influenced by intra-industry factors.

Present and future of Russian market of stainless steel

Metal-roll of stainless steel is widely used in various industries of national economy. Data on domestic and European structure of stainless rolled products presented, as well as volume of Russian market of stainless steel products. In 2019 the volume of Russian market of stainless steel products accounted for 427.5 thousand tons comparing with 441.1 thousand tons in 2018. Its high dependence on import was noted. From 2014 to 2018 it varied in the range of 65.1–79%, and in 2019 it accounted for 76.6%. In 2019 the volume of Russian import of stainless steel rolled products accounted for 253 thousand tons. Within 2014–2019 import of stainless steel rolled products increase in natural terms by 58%, in cost terms – by 38%. The volume of Russian export was not large and in 2019 accounted for 13.3 thousand tons. Within 2014–2019 export of rolled stainless steel products from Russia increase in natural terms by 42%, in cost terms – by 21%. Production of stainless steel rolled products in Russia in 2014–2019 was varying in the range of 106 thousand tons (2017) to 155 thousand tons (2016). In 2019 130.4 thousand tons were produced, which exceeded level of 2018 by 7.1%. At present there are two projects for modernization and construction of new facility at Chelyabinsk metallurgical plant and metallurgical plant “Elektrostal”. Realization of the projects will enable to increase production of flat stainless steel rolled products (including cold-rolled one) by 200 and 250 thousand tons correspondently. A forecast of Russian market of stainless steel presented, according to which to 2030 its volume will increase to 1.14 mil tons, that is 2.7-fold large comparing with 2019.

Optimal destabilization of cartels

This paper introduces an oligopoly model that includes three actors: a cartel (comprising two or more firms that operate like one merged company), a group of competing fringe firms, and a welfare maximizing antitrust authority. The cartel is the Stackelberg quantity leader and the fringe firms are in Cournot competition with respect to the residual demand. The cartel is internally stable if none of its member firms finds it profitable to become a fringe firm. The antitrust authority can destabilize the cartel in the sense of making the cartel internally instable. To this end, the antitrust authority has three policy instruments at its disposal: its own effort, a fine for detected cartels, and a leniency program for cartel members that cooperate with the authority. Taking into account that the use of these instruments is not costless for society, a unique optimal antitrust policy is derived. The analysis reveals that both, the optimal force and mix of the antitrust authority’s policy depend on market characteristics such as the efficiency of the authority’s operations, the public respect for the rule of law, the ethical standards of the firms’ managers, the market volume, and the number of firms operating on the market.

Markets, mis‐direction and motives: A factual analysis of hoarding and speculation in southern Murray–Darling Basin water markets

There is a long history of concern about speculation in water markets, and potential adverse impacts on agricultural water users. However, applications of traditional analysis into price increase drivers in water markets are challenging due to data limitations. To address this, we use speculation theory, most notably Hirshleifer’s four fundamentals for speculative trade, to examine whether speculation or hoarding price increase drivers are evident in Australia’s largest water market, the southern Murray–Darling Basin. While speculation is likely, and with good reason given the gains possible, we find no evidence of hoarding behaviour in market price or volume trends. It is more plausible that agricultural sectors – notably horticultural users – have driven price increases given their requirements to access water at any cost during periods of low supply. These findings conform to theoretical expectations and help to inform badly needed insights into water market fundamentals required for future analysis. Overall, calls for stricter market controls on non‐agricultural water users are not supported by our findings. However, greater transparency in water market and broker activity, arising from substantial improvements in the underlying data and trade regulations associated with water markets, would be an ideal outcome from any public police extension.

Inland terminal location selection using the multi-stakeholder best-worst method

ABSTRACT The aim of this study is to develop an inland terminal location selection methodology. This methodology is viewed from the perspective of the shipping line designing the inland transport chain while also taking the objectives of multiple other stakeholders into account. To that end, we develop a consensus model for a group Best-Worst Method (BWM) in order to aggregate the evaluations of the various stakeholders. The proposed method is applied to a real-life case study involving the Maersk shipping line, in which nine experts representing three different types of stakeholders assess six possible locations. After the evaluation, the market volume potential is identified as one of the most important criteria. Furthermore, a sensitivity analysis indicates that a varying influx of the container volume has no impact on the most desirable location.

An updated estimate of benzoate intakes from non-alcoholic beverages in Canada and the United States

ABSTRACT In 2017, the results of a comprehensive assessment of intake for benzoic acid and its salts from non-alcoholic beverages were published for four regions (Brazil, Canada, Mexico, and the United States [U.S.]). These regions were among those identified as having the most prevalent use of benzoates in beverages globally. The results of the 2017 study did not indicate a safety concern relative to the acceptable daily intake (ADI) established for benzoates (5 mg kg body weight-1 day−1, as benzoic acid), and supported maintaining the Codex maximum benzoate level in water-based beverages (250 mg kg−1). Since this time, population-specific food consumption data have been released for public use for Canada, and updated beverage consumption data have become available for the U.S. To ensure estimated intakes remain relevant, these consumption data were incorporated with previously collected brand-specific benzoate use level and market volume data for beverages. Dietary exposure to benzoates from non-alcoholic beverages was assessed using statistical modelling, either probabilistic (non-brand loyal; considering the full distribution of use levels) or deterministic (brand loyal; assuming all regular carbonated soft drinks, the brand loyal beverage type, contain benzoates at the maximum use level, and all other beverage types in which benzoates are used contain benzoates at the market-weighted average use level). In both models, estimated daily intakes at the mean and 95th percentile were below the ADI (≤76% of the ADI) in all Canadian and U.S. population groups with a statistically reliable population size. The findings from updated Canadian and U.S. consumption data continue to support the Codex maximum benzoate level in water-based flavoured drinks at 250 mg kg−1.

Are Exchange-Traded Notes Predictable? An Empirical Investigation of Commodity ETNs

Exchange-traded notes (ETNs) are exchange-traded products similar to exchange-traded funds that track performances of some market indices. ETNs are traded throughout the trading hours on organized exchanges such as the New York Stock Exchange. In this article, the author studies a sample of ETNs issued by Barclays Bank PLC that tracks commodity futures indices. Using daily data spanning over the past 10 years up to 2018, the author investigates the relationship between premiums and returns for a sample of ETNs issued. Within a panel vector autoregression framework, the author tested several hypotheses to uncover the link between premiums and returns. The hypotheses focus on noise trading and return predictability and their impact on the informational efficiency in the ETN markets. <b>TOPICS:</b>Exchange-traded funds and applications, commodities, futures and forward contracts, performance measurement <b>Key Findings</b> ▪ There are noise traders in the ETN market. These uninformed traders surge market volume and liquidity but diminish the ability of the market to respond to new information. ▪ ETN premiums consistently and significantly predict future premiums. The results recommend that premiums might reflect some unique information about future ETN returns. ▪ The ETN market is not efficient, and tracking premiums might help investors to predict future ETN returns.

Design of Automobile Rapid Maintenance Based on Digital Maintenance Assistant System

In recent years, with the rapid growth of China’s automobile ownership, the profit proportion of automobile aftermarket in the automobile industry is increasing day by day, and the automobile service industry is gradually growing in the development of China’s national economy. The current automobile maintenance management software is not good and bad, most of these management software in order to meet the common possible user needs and lead to the same software function, lack of consideration for the management system of small and medium-sized enterprises, and there are certain defects in generality. At the recent 2020 China Automobile Supply Chain Conference, Wu Wei, director of the Machinery Department of the Industrial Development Department of the national development and Reform Commission, said that the production and sales volume of the automobile market had achieved a year-on-year growth for six consecutive months. If this momentum can continue in the fourth quarter, the total production and sales volume by the end of this year is expected to be close to the level of last year. Automobile fast repair refers to the activities of automobile maintenance and minor repair, but not vehicle repair, automobile assembly repair and secondary maintenance. The service scope is locked in 120 fast repair and maintenance items that can be completed within 2 hours. At present, the total number of motor vehicles in our country is huge, and the number of maintenance enterprises can not meet the demand of maintenance, so the potential of automobile fast repair market is unlimited. As the main business of fast repair industry, automobile fast repair is paid more and more attention by people. The application of digital management mode and maintenance cases creates good conditions for the development of fast repair enterprises, and makes it possible for fast repair enterprises to adopt reasonable maintenance methods. This paper focuses on the chaos in maintenance management, On the basis of the research and analysis of automobile maintenance management system and digital management concept, taking customer demand as the starting point, this paper designs a digital automobile maintenance auxiliary system specially for automobile fast repair enterprises to assist managers in maintenance management, so as to achieve the purpose of standardized management business “fast and reasonable” maintenance, and improve customer satisfaction.

When a Master Dies: Speculation and Asset Float

Abstract An artist’s death constitutes a negative shock to his future production; death permanently decreases the artist’s float. We use this shock to test predictions of speculative trading models with short-selling constraints. As predicted in our model, we find that an artist’s premature death leads to a permanent increase in prices and turnover; this effect being larger for more famous artists. We document that premature death increases prices (by 54.7%) and secondary market volume (by 63.2%).

HUMAN RESOURCE MARKETING IS AN IMPORTANT FACTOR TO ENHANCE THE COMPETITIVENESS OF CHINESE ENTERPRISES

On the basis of theoretical research, this paper expounds the basic connotation and necessity of human resource marketing. Then it further describes the historical development and current four new trends of human resource marketing in Chinese enterprises. The author determines that the marketing strategy of high quality human resources is an important factor to improve the competitiveness of China's high enterprises. The author introduces and analyzes in detail the main characteristics of human resource marketing activities of Chinese companies, and clarifies the interactive relationship between human resource management marketing and enterprise competitiveness from the aspects of system, culture, management, development, innovation and technology. The article points out that China's companies have been striving to build human resource management system, focusing on the establishment of human resource planning and talent pool; the construction of enterprise post qualification standard system to do a good job of human resource allocation; the establishment of scientific performance management, improvement and standardization of incentive scheme; the application of advanced technology in human resource management, Establish the network system of human resource service for enterprises. It is proved that the effectiveness of staff marketing to some extent determines the competitiveness of Chinese enterprises. Facts have proved that Chinese enterprises pay more and more attention to human resource marketing. Thus, on the example of the data of the Chinese company Haier, which specializes in the production of household appliances, the authors conducted a PEST-analysis of the company and identified the factors that shape its competitiveness. Among the main factors that positively affect and shape the competitive advantages of the company are significant political and economic support from the state, constantly growing market volumes, significant human resources and more. The article also provides a SWOT analysis of the company and substantiates the opportunities and threats that must be considered when developing an effective marketing strategy for the company's staff in the future.