Price Impact Research Articles

Malaria in the Republic of Guinea 2022-2023: costs associated with the care pathway from the patient's perspective.

Access to safe, financial affordable health care is a key factor in reducing health disparities. The malaria is a major public health issue, with significant economic implications in Guinea where the free malaria care services were introduced in 2010. This paper analyzes the costs associated with the care pathway for malaria patients in the Republic of Guinea. An analysis of the costs associated with malaria disease was conducted using data from a cross-sectional survey on the determinants of malaria care pathway between December 2022 and March 2023. The data were collected in health facilities and at community health workers. According to the patient's perspective, Time-Driven Activity-Based Costing (TDABC) and micro-costing approaches were used to assess the costs associated with care-seeking, cases management, and income loss. A total of 3300 patients were recruited in 60 health facilities. The majority were in urban areas (64.8%). One third of the patients were children under five years old. Over half of the patients or caregivers were without formal education, and most households were headed by husbands (78.5%). The median monthly income of the head of households was $116.0. Furthermore, after diagnosis, 25.5% of cases were uncomplicated malaria, 19.2% were complicated, and 52.2% were malaria associated with other diseases. Globally 41% of cases were on their first care pathway. The costs of care-seeking varied according to type of malaria, from $3.5 and $13.5 respectively for uncomplicated and complicated cases. The median direct costs of case management at health facilities were $7.3 (IQR: $4.1,13.3) for uncomplicated and $30.5 (IQR: 15.7, 51.4) for complicated cases. The total costs associated with the global care pathway differed across types of malaria and age groups, with median costs estimated at $17.4 (IQR: 6.7, 34.8) for uncomplicated cases and $43.5 (IQR: $ 19.7, 74.0) for complicated malaria. A delay in appropriate care-seeking accounted for 19% of the costs incurred by malaria patients in Guinea (p < 0.001). Despite the introduction of free malaria prevention services, malaria patients or their caregivers continue to incur costs and loss of income. An approach to selective, free and affordable flat-rate costs could ensure the financial viability of health facilities and reduce out-of-pocket expenses. The next research will focus on the impact of free selective and flat-rate pricing on out-of-pocket expenses, and the analysis of the perception of the malaria care services by care providers and users.

The non-linear price effect on guest satisfaction of the Michelin-starred restaurants

ABSTRACT Existing studies on the price–satisfaction relationship in the tourism industry are limited, particularly those examining the causality in the restaurant industry. This study examines the effect of price on guest satisfaction based on a sample of 439 customers in 8 Taiwanese Michelin-starred restaurants during the period of January 2022 to April 2022. Theories suggest two opposite price effects on satisfaction: the positive price effect represents the signal of expected quality while the negative price effect is associated with the guests’ perception of sacrifice. The empirical results indicate an inverted U-shaped impact of the restaurant price on food satisfaction but the price does not affect service and physical environment satisfaction. Moreover, the restaurant price–food satisfaction relationship could be affected by the moderating influence of the star rating system to become a U-shaped function (for one-starred restaurants).

Food security and nutritional vulnerability in Comoros: The impact of Russia-Ukraine conflict.

The Sustainable Development Goal 2 aims to eradicate hunger. However, many small island developing states (SIDS) face challenges in achieving this goal due to their reliance on the global market and susceptibility to crises. This paper focuses on Comoros, one of the least studied SIDS located in the Indian Ocean, to examine its food security and nutritional vulnerability. The findings reveal that Comoros experiences limited access to sufficient and nutritious diets, which are excessive in fat and deficient in key micronutrients. This situation is similar to other SIDS in the Pacific and the Caribbean, which also exhibit the convergence of the malnutrition triple burden. This paper further assesses the impact of changing food prices during the initial year of the Russia-Ukraine conflict on food security and nutrition in Comoros, serving as a case study for SIDS. Using microsimulations, we estimate the effects on food access, sufficiency, and adequacy at the household level. The results indicate a decline in food access and purchasing power for all households, particularly the poorer and rural. Additionally, food sufficiency has markedly decreased, leading to an additional 5,000 households (3.3% of all households) experiencing inadequate daily calorie intake. The study also highlights a reduction in the consumption of organ meats, fruits, and vegetables, resulting in decreased daily iron and folate intakes. This is particularly concerning given the high prevalence of anemia among women in Comoros and other SIDS. To address these challenges, policies promoting the consumption of fresh, nutrient-rich foods with low fat content are crucial to mitigate the malnutrition triple burden and curb the increasing trend of non-communicable diseases in these countries.

Property Comparison of Different Standard Wood Pallets for Possible Local Sourcing

The global expansion of freight transport across business types has impacted supply chain logistics in terms of coordinating the storage and delivery of goods and services across the supply chain. Wooden pallets are in high demand due to their price and environmental impact; however, the wood raw materials needed for making pallets are in short supply. This research was aimed at analyzing the possibility of using local wood instead of imported wood in the production of standard industrial pallets. Industrial pallets were designed using local acacia wood to replace some or all of the imported Radiata pine. This local acacia wood was utilized to prepare and construct pallets of the standard dimensions that were in accordance with the designs. Pallets made from the same type of wood and mixed woods were heat treated to meet the criteria of the ISPM 15 protocol for export. Flat pallet testing was conducted in accordance with industrial standards for the evaluation of the finished products. All types of pallets, including pallets containing local wood components, showed no visible damage during drop tests and compression strength assessments. However, the variability in diagonal span rates was influenced by the wood used in the fabrication process. Pallets frabricated from both partial and full acacia wood exhibited increased bending rates of 2081 and 2650 MPa, respectively, due to the higher levels of cellulose and lignin found in acacia wood. Our research suggests that there is an opportunity to manufacture standard pallets using locally sustainable wood resources, with some modifications to current industrial processes required.

Analisis Pengaruh Penerapan Strategi Bauran Pemasaran terhadap Keputusan Pembelian pada UMKM Serba Nanas Alam Sari Subang Jawa Barat

UMKM One of the producers in Subang offering processed pineapples is Serba Nanas Alam Sari. Processed pineapple sales are erratic. Businesses must create a strong marketing mix strategy in order to overcome consumer preferences and market rivalry. The purpose of this study is to examine how purchase decisions at Serba Nanas Alam Sari UMKM in Subang, West Java, are affected by the application of a marketing mix approach. In order to collect data for this study, 100 UMKM customers were given questionnaires. Mixed methods were used in this research. The techniques employed for gathering data included surveys, interviews, documentation, and observation. A Likert scale is used for variable measurement, and MSI is used to alter it. Multiple linear regression data analysis was used to ascertain the impact of place, promotion, price, and product variables on consumer purchase decisions. The study's findings indicate that the significant value is less than 0.05, indicating that purchase decisions are influenced by product, price, place, and promotion all at the same time. With a result of 1,042, the product variable has the biggest impact. This is due to the product's variety, good taste, and guaranteed product quality. The variables that affect promotion, pricing, and location are next in line. Based on the study's findings, Serba Nanas Alam Sari UMKM can benefit from an efficient marketing plan that combines quality products, competitive pricing, effective distribution, and eye-catching promotions to influence more customers' purchases.

Asymmetric relationship between crude oil price and remittance inflows in a small island economy: Evidence from non-linear ARDL approach

Sri Lanka's economy heavily depends on remittance inflows to finance its import of essential and intermediate goods. A decline in remittances could severely limit the country's import capacity, affecting overall economic growth and development. This study investigates the impact of crude oil prices on Sri Lankan remittance inflows from 1980 to 2020, while accounting for per capita GDP, financial development, and exchange rates as additional explanatory variables. Employing a nonlinear autoregressive distributed lag (NARDL) model, the analysis reveals significant asymmetric effects of oil price shocks on remittance inflows. In the short run, positive oil price shocks lead to increased remittance inflows, whereas negative shocks reduce them. However, in the long run, both positive and negative oil price shocks have an adverse impact on remittance inflows. Furthermore, changes in per capita GDP, financial development, and exchange rates also play a crucial role in influencing remittance inflows. The findings highlight Sri Lanka's vulnerability to global oil market fluctuations and suggest policy measures to mitigate these risks. Key recommendations include diversifying labor export markets, enhancing financial infrastructure, and reducing dependence on remittance inflows to sustain import capacity and promote long-term economic resilience.

Carbon emission reducing and financing strategies of capital-constrained supply chains using equity financing under different power structures

AbstractThis study considers a low-carbon supply chain model comprised of a capital-constrained manufacturer and a retailer under a cap-and-trade system. These two parties can choose from two financing modes: bank financing or mixed financing, in which the latter combines bank financing with equity financing. Two decision-making power structures are formulated, namely the Nash game model and the retailer-led Stackelberg game model. Subsequently, a comparative analysis of equilibrium outcomes for both parties within these power structures is performed, yielding the following insights: (1) In the bank financing mode, retailers find greater profitability in adopting dominance. When emission reduction efficiency is high, manufacturers obtain more profit within a Nash game context. However, when emission reduction efficiency is low, manufacturers accrue more profit in a Stackelberg game context. In the mixed financing mode without cap-and-trade regulations, supply chain participants do not express a preference for any specific game structure. (2) Without cap-and-trade regulation, in both the Nash and Stackelberg game models, the supply chain participants find more profitability in mixed financing when carbon emission reduction efficiency is high. Meanwhile, bank financing proves more profitable when the carbon emission reduction is low. Moreover, this study investigates the impact of wholesale and retail prices of low-carbon products on the financing strategies of the supply chain participants under different power structures and financing modes. Additionally, extended models are considered, including the manufacturer-led Stackelberg game structure and the capital-constrained manufacturer with a certain amount of initial capital.

Pengaruh Kualitas Produk dan Harga Produk Terhadap Loyalitas Konsumen Melalui Kepuasan Konsumen Terhadap Produk Mie Instan “Indomie Goreng” : Studi pada Konsumen Mie Instan “Indomie Goreng” di Warmindo Sarjana UPN

This research aims to understand the impact of product quality and product price on consumer loyalty using consumer satisfaction with consumers of fried Indomie instant noodles at "Warmindo Bachelor UPN". This research uses a quantitative type of research. The research results show that there is an influence of the respect variable on the consumer satisfaction variable. Apart from that, consumer satisfaction has an influence on consumer loyalty.

Does board gender diversity improve stock liquidity?

PurposeFirms with gender diverse boards have been shown to have increased transparency and disclosure, resulting in reduced information asymmetry, which is a key factor influencing stock liquidity. This paper explores the influence of information asymmetry resulting from board gender diversity on stock liquidity. We examine the impact of gender diverse firms on stock liquidity in US listed firms from 2006 to 2022, capturing 28,280 firm-year observations across 4,349 firms. Using mediation models, we distinguish between direct and mediated effects to examine the impact of gender diverse boards on three dimensions of stock liquidity. We find a positive and significant relation between board gender diversity and stock liquidity, and our findings highlight the substantial mediating role of information disclosure in this association. To address concerns of endogeneity, we use instrumental variables regression, and our conclusions remain robust to a range of alternatives.Design/methodology/approachTo investigate the association between board gender diversity and stock liquidity and the underling mechanism that drives the relation, we utilize a dataset comprising 4,349 listed US firms from 2006 to 2022. We adopt a comprehensive approach to measure stock liquidity that spans three dimensions: Amihud illiquidity (LIQ) as a representation of price impact, the quoted spread (SPREAD) to gauge transaction costs and the stock turnover (TURNOVER) to assess trading frequency. To evaluate board gender diversity, we examine female directors and female independent directors, utilizing both the percentage and the presence (as a binary variable).FindingsThe results of our analysis reveal not only a statistically significant effect of board gender diversity on liquidity but also demonstrate its economic significance. One standard deviation increase in the percentage of female directors (12% more female directors) is associated with a 5.8% decrease in price impact, a 5.1% reduction in transaction costs and a 3% increase in trading frequency. These findings highlight the material economic importance of the relationship, which stands in contrast to previous studies reporting only a 1% change in average stock liquidity in the Australian stock markets (Ahmed and Ali, 2017). To further investigate the underlying mechanism driving the association between board gender diversity and liquidity, we employ mediation models to separate the direct and mediated channels. Our results indicate that the effects of the percentage of female directors are mediated on liquidity (LIQ, SPREAD, and TURNOVER) through information disclosure, albeit with a relatively small magnitude (mediation proportion is 18.2, 3.9 and 22.9%, respectively).Research limitations/implicationsWe include a comprehensive set of variables in our analysis and adopt an instrumental approach to mitigate endogeneity concern. However, we acknowledge the possibility of omitted variable biases or reverse causality in our empirical analysis.Practical implicationsOur study contributes to the understanding of the association between board gender diversity and stock liquidity, focusing on the underlying mechanisms. Gender diversity on boards enhances corporate governance, leading to reduced managerial opportunism (Adams and Ferreira, 2009; Nielsen and Huse, 2010). This, in turn, increases information transparency and results in increased stock liquidity. By exploring the empirical evidence of the impact of gender diverse boards on stock liquidity through the information channel, we provide valuable insights to the existing literature. Our study uses US data to examine this association, addressing the small sample concerns of prior research that may have contributed to inconsistent findings.Social implicationsThis research can drive both economic and social transformations as it provides evidence that gender diverse boards lead to improved market outcomes.Originality/valueOur study differs from previous research by incorporating all three dimensions of liquidity, ensuring a comprehensive analysis. Through our investigation, we aim to deepen understanding of how gender diversity on corporate boards shapes market dynamics and contributes to understanding of corporate governance and market efficiency. Our study investigates how the impact occurs by employing mediation models to separate the direct and mediated channels of impact. We show that the effects of gender diverse boards on liquidity are mediated through information disclosure.

Impact of Oil Price, CO2 Emissons, Inflation and Economic Growth on FDI Inflow: Case of Kazakhstan

Impact of Oil Price, CO2 Emissons, Inflation and Economic Growth on FDI Inflow: Case of Kazakhstan

Financial Impacts of Paying for Gene Therapy for Sickle Cell Disease Under Alternate Prices and Financing Mechanisms

To understand the role of alternative prices and financing mechanisms on a payer's budget impact and the manufacturers' risks and returns for gene therapies. This paper uses fundamental economic principles to interpret the implications of alternative pricing mechanisms in terms of the manufacturer's appropriation share of the value and how alternate financing mechanisms alter it. It demonstrates these concepts by studying the financial impacts for a payer and the manufacturer across alternative pricing and financing mechanisms that could be used by the US Centers for Medicare and Medicaid Services (CMS) to pay for gene therapy for sickle cell disease (SCD). Unlike value-based and manufacturer-set monopoly prices, an effective monopoly price can be derived to guarantee monopoly profits for manufacturers during their exclusivity period, thereby providing a high appropriation share and substantially lowering price and budget impact for a payer. For SCD gene therapy, the 10-year budget impact for CMS would range from $8.6 Billion-$12.8 Billion under a value-based price, $10.2 Billion-$15.2 Billion under a monopoly price, but reduce to $7.7 Billion under an effective monopoly price. The latter price would still fetch over 50% of the total surplus to the manufacturer while mitigating their risk of sales volume. I show that significant budget impacts for funding gene therapy are not mitigated across alternative financing mechanisms at any given price. The price determines most of the budget impact. The option of a patent buyout may help negotiate down prices to effective monopoly prices.

Trading Volume Shares and Market Quality: Pre- and Post- Zero Commissions

After the adoption of zero-commissions by major brokers, they increasingly route orders to wholesale market makers to possibly earn payment for order flow given the loss of commissions. Retail investors assets held by zero-commission and commission-charging brokers increase 7% and decrease 9%, respectively. Retail investors earn less price improvement per share and submit more orders and smaller orders. Effective spreads decline because retail limit prices are increasingly posted within the bid-ask spread. Intraday volatility increases and price impact falls, as orders become more uninformed, while realized spreads remain unchanged.

The Impact of Crude Oil Price Shock: Evidence from Bangladesh

This study aims to estimate the impact of crude oil price on the DSEX broad index of the Dhaka stock exchange using the Vector Error Correction Model (VECM) for the study period 2013:01-2022:12. It has decomposed the oil price shock into supply side and demand side oil shock. The empirical result shows that the stock price decreases significantly with crude oil prices driven by the shock in oil production. In contrast, the improvement in global economic activity results in a shock in the oil price which has a significant positive impact on the stock price. Furthermore, the accumulated shock in oil prices has a significant positive impact on stock prices. The variance decomposition under the VEC model shows that the demand shock of oil price contributes more to the variation in stock price for the oil-importing country Bangladesh. Since different oil price shocks have different impacts, the policy maker and investors implement decisions based on the understating of the sources of the shocks.

The relationship between silver prices and consumer price index: Evidence on China market

This study examines the relationship between Chinese silver prices and inflation to help investors predict inflation in China and hedge risks during inflationary periods. This article constructs a regression model using the least squares method with silver price as the independent variable, consumer price index (CPI) as the dependent variable, and gold price as the control variable. According to the regression model, the research results indicate that in China, inflation risk cannot be predicted by the price of silver, and even investors cannot hedge their risk with silver during inflation periods. On the contrary, as a traditional precious metal, gold can predict inflation and provide hedging during this period. Based on these findings, this article suggests that Chinese investors should pay attention to the hedging differences between precious metals and make correct investment strategies based on the impact of silver and gold prices on inflation to cope with China’s growing inflation risk.

Do Transfer Pricing, Capital Intensity, Institutional Ownership and Managerial Ownership Affect Tax Avoidance: Case Study on the Mining Industry Listed on the Indonesia Stock Exchange (IDX) for 2019-2022 Period

This study aims to analyze the impact of institutional ownership, managerial ownership, capital intensity, and transfer pricing on tax evasion. This study applies a quantitative method with an associative approach. The data used are secondary data obtained through the analysis of financial statements of mining companies that were active during the period 2019 to 2022 and listed on the Indonesia Stock Exchange (IDX), with data collection techniques through internet searches. Purposive sampling was used to select the sample, and all mining companies listed on the IDX during that time period are included in the study population. Panel data regression of Eviews 10 statistical software was used to analyze the data. The results of the study show that simultaneously, Transfer Pricing, Capital Intensity, Institutional Ownership, and Managerial Ownership have a significant influence on tax avoidance in the mining sector listed on the IDX for the period 2019-2022. Specifically, Transfer Pricing and Institutional Ownership have a negative influence on tax avoidance, while Capital Intensity and Managerial Ownership do not show a significant influence on tax avoidance in the sector.

Optimal Dispatching Strategy for Textile-Based Virtual Power Plants Participating in GridLoad Interactions Driven by Energy Price

The electricity consumption of the textile industry accounts for 2.12% of the total electricity consumption in society, making it one of the high-energy-consuming industries in China. The textile industry requires the use of a large amount of industrial steam at various temperatures during production processes, making its dispatch and operation more complex compared to conventional electricity–heat integrated energy systems. As an important demand-side management platform connecting the grid with distributed resources, a virtual power plant can aggregate textile industry users through an operator, regulating their energy consumption behavior and enhancing demand-side management efficiency. To effectively address the challenges in load regulation for textile industry users, this paper proposes a coordinated optimization dispatching method for electricity–steam virtual-based power plants focused on textile industrial parks. On one hand, targeting the impact of different energy prices on the energy usage behavior of textile industry users, an optimization dispatching model is established where the upper level consists of virtual power plant operators setting energy prices, and the lower level involves multiple textile industry users adjusting their purchase and sale strategies and changing their own energy usage behaviors accordingly. On the other hand, taking into account the energy consumption characteristics of steam, it is possible to optimize the production and storage behaviors of textile industry users during off-peak electricity periods in the power market. Through this electricity–steam optimization dispatching model, the virtual power plant operator’s revenue is maximized while the operating costs for textile industry users are minimized. Case study analyses demonstrate that this strategy can effectively enhance the overall economic benefits of the virtual power plant.

The impact of Scotland's minimum unit pricing for alcohol policy on people accessing services for alcohol dependence: A difference-in-difference structured interview study.

A minimum unit price (MUP) for alcohol of £0.50 per unit (1 UK unit = 10 mL/8 g alcohol) was introduced in Scotland in May 2018. Few previous studies have examined the impact of alcohol pricing policies on people who are alcohol dependent. This study aimed to evaluate the effect of MUP on people who are alcohol dependent including changes in alcohol consumption and health status, as well as potential unintended consequences. Three waves of cross-sectional data were collected in Scotland (intervention) and Northern England (control) at 0-6 months pre-implementation then 3-9 months and 18-22 months post-implementation. The sample was N = 706 people receiving treatment related to their alcohol use. We collected structured interview data including recent drinking information via a 7-day timeline-follow-back drinking diary. Difference-in-difference analyses estimated change in indicators in Scotland compared to England at both post-implementation timepoints. The proportion of participants consuming alcohol costing on average <£0.50 per unit in Scotland decreased from 60.6% at 0-6 months prior to MUP implementation to 6.3% at 3-9 months post-implementation (p < 0.0004). There was no significant change in the indicators for alcohol consumption, severity of dependence, health status, other substance use, deprivation level or parenting. The introduction of MUP in Scotland was associated with increases in the prices paid for alcohol by people with dependence and presenting to treatment services. There was no evidence of changes in their alcohol consumption or health status. There was also no evidence of harmful unintended consequences for this population.

The Effect of Product Quality and Price on Purchase Intention of Event Package at the Apurva Kempinski Bali

The data analysis method used in this study is Multiple Linear Regression, Coefficient of Determination, t test and F test. According to the results of the study, it can be observed that product quality has a positive and significant impact on interest in buying event packages, prices have a significant positive effect on interest in buying event packages and product quality and prices, simultaneously have a significant impact on interest in buying event packages. The high impact of product quality variables and prices on buying interest in event packages is 65.2%. The input that can be conveyed by researchers is that it is hoped that The Apurva Kempinski Bali Hotel will evaluate the services provided, so that later it can provide more responsive services, evaluate the prices offered, always provide good service, maintain good product quality, and prices such as the benefits received by buyers.

Tackling nonlinear price impact with linear strategies

AbstractEmpirical studies in various contexts find that the price impact of large trades approximately follows a power law with exponent between 0.4 and 0.7. Yet, tractable formulas for the portfolios that trade off predictive trading signals, risk, and trading costs in an optimal manner are only available for quadratic costs corresponding to linear price impact. In this paper, we show that the resulting linear strategies allow to achieve virtually optimal performance also for realistic nonlinear price impact, if the “effective” quadratic cost parameter is chosen appropriately. To wit, for a wide range of risk levels, this leads to performance losses below 2% compared to a numerical algorithm proposed by Kolm and Ritter, run at very high accuracy. The effective quadratic cost depends on the portfolio risk and concavity of the impact function, but can be computed without any sophisticated numerics by simply maximizing an explicit scalar function.

Can Competition Increase Profits in Factor Investing?

The increasing number of institutions exploiting factor-investing strategies raises concerns that competition may erode profits. We use a game-theoretic model to show that, whereas competition among investors exploiting a particular factor erodes profits because of the negative externality of their price impact on each other, competition to exploit other factors can increase profits from the first factor because of the positive externality from trading diversification (netting of trades across factors). Using data for 18 factors as well as mutual fund holdings, we show that competition and trading diversification substantially affect the profits from factor investing. This paper was accepted by Agostino Capponi, finance. Funding: The authors received an INQUIRE-Europe research grant for this project. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2022.02684 .