Share Of Trade Research Articles

Individual Investors’ Risk Behaviour and Share Trading Frequency: Evidence from Dar es Salaam Stock Exchange

Individual Investors’ Risk Behaviour and Share Trading Frequency: Evidence from Dar es Salaam Stock Exchange

On Construction and Estimation of Mixture of Log-Bilal Distributions

Recently, the use of mixed models for analyzing real data sets with infinite domains has gained favor. However, only a specific type of mixture model using mostly maximum likelihood estimation technique has been exercised in the literature, and fitting the mixture models for bounded data (between zero and one) has been neglected. In statistical mechanics, unit distributions are widely utilized to explain practical numeric values ranging between zero and one. We presented a classical examination for the trade share data set using a mixture of two log-Bilal distributions (MLBDs). We examine the features and statistical estimation of the MLBD in connection with three techniques. The sensitivity of the presented estimators with respect to model parameters, weighting proportions, sample size, and different evaluation methodologies has also been discussed. A simulation investigation is also used to endorse the estimation results. The findings on maximum likelihood estimation were more persuasive than those of existing mixture models. The flexibility and importance of the proposed distribution are illustrated by means of real datasets.

Examining The Effect of Sustainability Report Disclosure to Firm Value: A Study Based on Listed Public Companies in Indonesia Stock Exchange

Companies that mitigate and improve the environment can take advantage of this as a marketing tool in general. Consumers will support companies that have a positive impact on their surroundings. One of the tools that can be used as a form of responsibility and marketing tool is a sustainability report. Sustainability report are reports published by organizations or companies that explain the economic, environmental, and social impacts as result of their operating activities. The report also explains about corporate culture and governance as well as its relationship with the company's strategy and commitment to maintain the sustainability of the triple bottom line (people, planet, profit). Sustainability reporting disclosure index (SRDI) are measured from 89 listed public companies in Indonesia. Regression analysis took place for examining the effect of SRDI to the corresponding firm value represented by Tobin’s Q. Only certain limited sample data showed that there’s a significance effect between sustainability report disclosure and firm value. Enterprises who haven’t disclose their sustainability report still worth high value in share trade. This condition occurs due to investors' decisions to invest are influenced by media coverage, economic conditions, and changes in stock prices.

From De-collectivization to Re-collectivization: New Transformation Trend in Agriculture Production in Taicang City of the Eastern China from the Perspective of 'Governmentality'.

The continuous development of agricultural technologies and produces trade and updated state reforms strongly shape the dominant organizing styles of local agriculture production. Since the end of the 1970s, rural China has witnessed a drastic agriculture transformation featured by de-collectivization, and recently in Taicang, a developed city in the eastern China, a kind of new cooperative farms have replaced the smallholders by pooling households' contracted farmland, signaling a new shift tendency towards agriculture recollectivization that is distinctive compared to other countries. Given the state governance's leadership in promoting this latest transformation, drawing on the theoretical concept of 'governmentality' that is powerful in understanding how to govern the society to meet certain objectives, this paper examines the accurate processes of agriculture re-collectivization in Taicang City based on the methods of semi-structured interview and participant observation. Our research shows that the China's tax-sharing and relevant reforms in the 1990s framed a new governance structure in line with the new mode of 'governmentality' closely linked to 'advanced liberalism', creating the responsibility shift from central to local governments and a set of evaluation technologies, and guiding various actors to engage in the agriculture re-collectivization practice in Taicang. Importantly, the considerable subsidies and the impressive extension services in terms of farming personnel training and agricultural techniques diffusion underpin the normal running of cooperative farms and contribute to the local implementation of national strategy of agriculture modernization. We argue that the combination of distinctive institutional arrangement of rural land owned by village collectives in China and the burgeoning local economy allows the developed areas to re-collectivizing the agriculture production for ensuring grain self-sufficiency rather than capturing more share in global agriculture products trade, and that the cooperative farms in our case have been deeply integrated into the 'modern procurement system' and become more sensitive to market fluctuation, requiring rural extension service to transform towards farms' capacity building for maintaining the long-term development momentum.

SOUTH KOREA AS A MIDDLE POWER IN EAST ASIA?

This article addresses South Korea's foreign policy toward ASEAN from a middle power approach. Using role theory, we argue that South Korea is developing a regional role to diversify its traditional ties, mitigate local constraints, and materialize its regional interests. We analyze the economic and political dimensions according to the share of trade and investment flows to the region and the development of cooperation initiatives and institutional ties. In the latter, we focus on Moon's presidency and the New Southern Policy, including a reference to the official development assistance. We also address its role in the South China Sea conflict to examine the strategic restrictions in this scenario. We state two main constraints: the need to keep the United States as a safety-guarantee partner and the critical role of China as an economic partner. Finally, we explore the challenges that a power competition scenario poses for Seoul within Southeast Asia.

The International Monetary System Reform: Refusal to Use the Dollar and Fair Exchange Rate

The purpose of the study is to develop recommendations aimed at eliminating shortcomings of the modern international monetary system. The author suggests a draft of its reform. The draft provides, firstly, an objective reflection of the economic state of the issuing state in compliance with the exchange rate of the national currency and, secondly, allows eliminating disproportionate use of the US dollar in international trade. When developing the draft of the reform, the author proceeded from the assumption that the reform of the international monetary system based on consensus is impossible: «beneficiaries of the modern monetary order» will actively defend their national interests to the detriment of the interests of the majority of members of the international community. Under the current conditions, the only way to transform the international monetary system is to take unilateral actions of individual States. At the same time, the «engine of the reform» should include the commercial benefit of private participants of foreign economic activity: it is unrealistic to adjust the international monetary system by establishing new rules that do not ensure additional (at least minimal) profit for international trade agents. Based on these prerequisites, the author formulates a model of unilateral modernization of the settlement system and the system of customs and tariff regulation when importing goods that can be applied by an individual state. Implementation of this model should generate demand on the domestic foreign exchange market for the national currency of the importing state proportional to its share in international trade. A consistent increase in the number of states using this model will allow, based on market principles, creating a new international monetary system, eliminating its main drawbacks, including reducing the role of the US dollar in international trade to an adequate value reflecting the current state of the American economy. The author relied in the study on analytical and statistical methods, the method of economic and legal modeling.

A regional analysis of the competitiveness of industries in the Nelson Mandela Bay Metropolitan Municipality, South Africa

The Nelson Mandela Bay Metropolitan Municipality is situated on the Eastern Coastline of South Africa. The metropolitan itself has the potential for major local and regional economic growth but has experienced significantly low growth over the past few years. Internal constraints that the province faces include high production costs, limited economic development and support, deteriorating infrastructure and limited financial resources. To assess the local economy of the Nelson Mandela Bay Metropolitan Municipality, the methodological techniques used include the location quotient and shift-share analysis. The empirical analysis showed that the municipality is highly specialised in industries such as agriculture, forestry and fishing, and transport equipment. The evaluation of the top five industries revealed that business services, wholesale and retail trade, transport and storage, catering and accommodation, and social and personal services have the highest growth potential and may contribute to future development initiatives. Efforts to stimulate industrial growth include the promotion of tourism, increasing the market share of wholesale and retail trade, establishing an integrated approach to the services industry, and finally, expanding the market share of the transport and storage industry.

PRODUCTION/EXPORT TRADE OF GUM ARABIC IN NIGERIA

This paper focus on the production /export trade of gum arabic in Nigeria , it is one of the area improve economic of a nation , Nigeria share of the world gum arabic trade. Available statistics indicate that Nigeria remained the second world’s largest producer of gum Arabic after Sudan until 1996. The Table 1 below indicates that Nigeria crashed to the third position as from 1998 even though the export of gum Arabic from Nigerian ports continues to rise every year. Table No. 3 and 4 show the export data of gum Arabic.

Structural Properties Evolution and Influencing Factors of Global Virtual Water Scarcity Risk Transfer Network

Loss of production due to local water scarcity, i.e., Local Water Scarcity Risk (LWSR), is transferred downstream through international supply chains to distant economies, causing potential economic losses to countries and sectors that do not directly experience actual water scarcity, which is defined as Virtual Water Scarcity Risk (VWSR). Much research has focused on assessing VWSR and characterizing the structure of VWSR transfer networks, without explaining the formation and dynamics of VWSR transfer network patterns. In this study, the global VWSR transfer networks for 2001–2016 are then constructed based on a multi-regional input-output model and complex network theory. The determinants influencing the formation of VWSR transfer networks are further explored using the time-exponential random graph model. The results demonstrate that: (1) The VWSR transfer networks exhibit a distinctly small-world and heterogeneous nature; (2) Asia and Europe are the main targets of VWSR transfers, and Asia is also the main source of risks; (3) China and the USA play a leading role on the import side of VWSR, and India is the largest exporter of VWSR; (4) The evolution of VWSR transfer networks is significantly influenced by transitivity and stability. Countries located on the same continent, sharing geographical borders and having a higher level of economic development, have a facilitating effect on the formation and evolution of VWSR transfer networks. Countries with a higher share of merchandise trade are more inclined to receive VWSR inflows, while the urbanization rate has a restraining effect on VWSR outflows. The study provides a network-based insight that explores the structural evolution of VWSR transfer networks and the determinants of their formation, informing policy makers in developing strategies to mitigate the cascading spread of VWSR.

Real Exchange Rate of Moroccan Currency: Appreciated or Depreciated?

In this paper, we measure and evaluate the real parity of the Moroccan dirham during the period 1980-2020. The objective is to highlight the evolution of the real exchange rate of the dirham, and in particular to show if whether it has been overvalued against currencies of the main trading partners and competitors of Morocco. Contrary to many studies which used a simple method to calculate the real parity which consisted of assigning each country of the main trading partners a relative weight equivalent to its share in Morocco's external trade, we calculate the weights by combining both bilateral import weights and a double weighting for export to reflect both importance of each country in Morocco's import and export as well as the degree of competition of exporters in usual third markets. Calculation of real parity of the dirham reveals three main periods: a strong depreciation during 1980-1990; an appreciation during the period 1991-2000; and a resumption of a weaker depreciation for the last period (2001-2020). These trends are related to both changes in nominal effective exchange rate and in relative prices. Results obtained in the present paper are generally close to those calculated by the International Monetary Fund for Morocco and are strongly correlated with them and the trends in both remain the same.

DETECTION OF GENETICALLY MODIFIED RICE LOCALLY AVAILABLE IN PUNJAB, PAKISTAN

Rice (Oryza sativa L.) is an important cereal crop that provides food to half of the world's population. Pakistan's traditional and premium quality rice is mostly exported to Europe. Transgenic or genetically modified rice (GM RICE) has been developed in the USA, China, and other countries, like herbicide-tolerant Liberty-Link rice (LLRICE06, LLRICE62, LLRICE601) and insect-resistant Bt-63. International and national biosafety regulations allow countries to stop the import of any genetically modified organism (GMO) due to its possible safety concerns. PCR-based methods are recommended for the accurate detection of GM rice. Qualitative PCR is used to detect the presence or absence of GMOs in a rice sample. The objective of this study was to check the presence of GMOs in the rice samples collected from rice-growing areas in Punjab. Eighty-two rice samples were collected randomly from various markets/locations in rice-growing areas of Punjab for this study. Twelve bulks were prepared to represent eighty-two rice samples. The CTAB method was used to extract the DNA from rice samples to analyze it. PCR of rice bulk samples was performed using primers specific for SPS, CP, p35S, tNOS, nptII, Hpt and Bt 63 rice. Positive and negative controls were included in each PCR. Primers specific for chloroplast (CP) and Sucrose phosphate synthase (SPS) genes were used to confirm DNA quality for amplification. Then, primers specific for the cauliflower mosaic virus (CaMV) 35S promoter and the Agrobacterium nopaline synthase (NOS) terminator were used for the detection of GM rice through PCR, neomycin phosphotransferase II (nptII) and Hygromycin phosphotransferase (Hpt) were used as a selectable marker and Bt 63 rice was used in insect resistance. The gel electrophoresis of PCR was conducted using a DNA ladder and then taking of the image was through gel documentation system for visualization and analysis. According to the results, all the rice bulks representing the eighty-two rice samples were negative for p35S, tNOS, nptII, Hygro and Bt 63 rice event. These findings are encouraging and demonstrate that rice grown in kalar track of Punjab, Pakistan, is non-GMO. Such surveillance and monitoring would be largely beneficial to maintain the purity of our traditional non-GM rice and to avoid any possible mixing of GM rice seeds, especially at the time of import. All these efforts will ensure and protect our national share in the international trade of rice.

Competition and trade policy in the world cotton market: Implications for US cotton exports

AbstractCotton is a cornerstone of global fiber markets, and many importing and exporting countries play important roles in the global cotton market. The US cotton sector has long been one of the world's largest. However, Brazil's cotton production has rapidly grown, and the country has become one of the leading cotton producers, accounting for an ever‐increasing share of world cotton production and trade. This meteoric rise has put Brazil's cotton sector in frequent competition with the United States over export sales and market share. We empirically investigate how the expansion of the Brazilian cotton sector has impacted the US cotton sector's position in world markets by quantifying the extent to which rising Brazilian production has caused reallocations of US exports. We also explore how the recent US–China trade war affected these market dynamics by assessing the impacts of China's retaliatory tariffs on US cotton. Our results show that Brazil's cotton production has caused a major disruption to US cotton exports, resulting in a significant reduction in US exports to large cotton importers such as China, Vietnam, and Pakistan, and that these trends were reversed (at least temporarily) by the US–China trade dispute. By illustrating how competitive forces and trade disputes have shaped recent market dynamics for this key commodity, our work adds to the growing literature examining the interplay between competition and trade policy in the global agricultural sector.

Corruption pressure on business revisited

Purpose: This paper investigates whether within the European countries with a prevalent number of companies in particular sectors the corrupt rent-seeking practice is more likely to contaminate the entire business sector. Methodology: Multiple regression analysis was conducted to investigate the determinants of corruption pressure on the business sector. Results: We found that the share of retail and wholesale trade and public companies in the economy is related to bribery incidence experienced in the domestic business sector as a whole and that the ease of doing business together with EU membership reduces the spread of corruption risk. The transmissible effect of bribery incidence in one sector on the rest of the companies is observed, notwithstanding the post-transition status of a European country. Conclusion: There is a relationship between the share of retail and wholesale trade and public companies in an economy and bribery incidence experienced by the entire business sector indicating that there might be a spillover effect of bribing in one sector on the rest of the companies.

Місце країн Європейського Союзу на світовому фармацевтичному ринку

The purpose of the article is to determine the current state, features and prospects of development of the European Union countries in the global pharmaceutical market. The article presents the main indicators of the EU pharmaceutical sector in 2000-2021. It is determined that the pharmaceutical industry remains a key factor in the development of the economy of many European countries and is one of the most knowledge-intensive sectors of the economy. It is found that in 2021 in the production of pharmaceutical products among the EU Member States, the leaders were Italy, Germany, France and Belgium. Indicators of the share of leading exporters and importers in international trade in pharmaceutical products in 2021 are presented. The EU countries occupy leading positions in international trade in pharmaceutical products. In the global market, the leading exporter of pharmaceutical products in recent years is Germany. The indicators of foreign trade in pharmaceutical products of the EU from 2002 to 2021 are considered. It is found that the share of trade in pharmaceutical products in the EU’s total foreign trade is gradually growing. In 2021, the EU’s main trading partner for pharmaceutical products was the USA and Switzerland. To measure the identified comparative advantages of EU countries in the pharmaceutical sector, the article calculates an index of identified comparative advantages. The result shows that the export potential of the pharmaceutical industry in 16 EU countries is realized, and 11 countries still do not have a comparative advantage. It is determined that the COVID-19 pandemic has an ambiguous impact on the EU pharmaceutical market. On the one hand, COVID-19 can be seen as a great opportunity for the EU pharmaceutical industry, on the other hand, the pandemic has created significant risks for the pharmaceutical sector. It is defined that the prospects for the participation of the EU countries in the global pharmaceutical market and the priority vectors of development of the European pharmaceutical sector depend, first of all, on legislation and on demographic changes.

The Influence of Economic Policy Uncertainty on Export Trade between China and ASEAN

Facing with the complicated global situation, many countries change the economic policies at any time. The uncertainty of economic policies will increase, and the uncertainty risk will increase accordingly. The trade share between China and ASEAN was the largest in recent years, which showed the closeness and importance of the economic and trade cooperation between China and ASEAN. The macro-economy policies, trade policies and regional cooperation of China and ASEAN, will affect interests of both parties. Therefore, this paper aims to analyze the impact of the uncertainty of China's economic policy on the export trade between China and ASEAN. By using the uncertainty index of China's economic policy measured by Baker et al (2016)^[1] in 2003-2020, this paper makes an empirical analysis of the impact of the uncertainty of China's economic policy on the export volume of China to ASEAN. The results show that, the uncertainty of China's economic policy has a negative impact on China's export trade to ASEAN. Therefore, to better safeguard the export trade between China and ASEAN, methods such as joining the regional economic integration organization, optimizing the export industry structure, enhancing the innovation ability, and improving the institutional environment should be adopted to reduce the losses caused by the uncertainty risks of economic policies.

Znaczenie dolara amerykańskiego jako waluty kluczowej w międzynarodowym systemie walutowym

Purpose – The aim is to assess the importance of the US dollar as the key world currency after 2008. Research method – The basic research methods used in the article are the study of world literature and the analysis of statistical data delivered by the European Central Bank, the Bank for International Settlements, the International Monetary Fund and SWIFT. Results – Although there has been discussion for several decades about the likelihood of the US dollar losing its position in the International Monetary System, it still maintains its status as the most important international currency. The dominant political and military position of the United States, the size of the economy and its still key share in world trade, and, above all, the market of instruments denominated in American currency and the dominant share of the dollar in the currency market, confirm the current position of the US dollar. This does not mean, however, that it will retain its current position. Analyzing historical changes in the leadership position among international currencies, one should not expect a revolution. Originality / value / implications / recommendations – The analysis of the importance of the US dollar as the key currency in the IMS, undertaken in the article, shows the importance of the problem and implies the need to carry out further research on this issue.

Сравнительный анализ мегарегиональных торговых соглашений в Азиатско-Тихоокеанском регионе

The article conducts a comparative analysis of the trade mega-formats (mega-regional trade agreements) operating in the Asia-Pacific region (APR) in terms of emerging institutional structures and compliance with existing regulations of the World Trade Organization (WTO). As a result, the hypothesis of basing in the medium term the model of functioning of international trade on the rules and regulations of the emerging integration format of the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) is substantiated, within the framework of which a single trade and economic institutional environment is created, which differs from the functioning environment and organizational structure of the WTO. The high standards set by the CPTPP will determine the rules and regulations of international trade, either through gradual introduction into WTO instruments or by extending the agreement itself to new territories in the process of joining the partnership of the following participants. It is shown that in the medium term it is advisable for the Russian Federation to focus on the integration format of the Regional Comprehensive Economic Partnership (RCEP), free from the geopolitical context and absorbing the main share of mutual trade of countries in the Asia-Pacific region. Potential accession to the CPTPP would require large-scale economic reforms, which could prove quite painful for the country’s economy in the short term. According to the author, the RCEP in its essence and structure is not a mega-regional integration format, but a new large free trade zone without creating a single institutional environment. The main concessions are the reduction of tariff barriers, while in other areas long transition periods are envisaged, allowing for changes without the emergence of shocks in the national economy. This will give Russia the opportunity to expand cooperation with the main trading partners in the region and receive significant economic benefits without resorting to large-scale transformations

ТЕНДЕНЦИИ РАЗВИТИЯ РЫНКА ТРУДА В ТОРГОВЛЕ

Modern trade is an important sector of the Russian economy, creating a significant part of the gross value added. Trade infrastructure and its subjects play a significant role in ensuring employment of the population of the Russian Federation. The number of people employed in wholesale and retail trade is increasing annually, at the same time, there is a tendency to decrease the share of people employed in the field of trade, due to an increase in the share of online trade, which has a lower labor intensity. The analysis of the structure of employees in the trade industry in 2021 in the Russian Federation by the level of education reflects a high proportion of workers with higher education, secondary vocational education and secondary general education. However, the growth of both the absolute and relative number of people employed in trade is not balanced with the dynamics of the output of qualified specialists in this field. In 2023, experts note a shortage of trade and operational personnel, which in the future will affect the level of line managers and top management of trading companies. The processes of consolidation and competition between the two leaders of the Russian market are continuing in the trade industry: the holding company, which includes the retail chains Magnit and Dixie, and the holding X5 Group, non-network trade formats are developing as a tool for promoting goods for small and medium-sized businesses. Street retail is being revived with small retail formats with an emphasis on everyday demand. There is an annual increase in the share of eCommerce. The introduction of artificial intelligence technologies into the activities of trading enterprises will reduce the costs of circulation, which will positively affect the prices of goods and stimulate consumer demand. The impact of scientific and technological progress, globalization processes, and the COVID-19 pandemic on trade has led to the need to modernize the labor market and the vocational education system. In order to reduce the personnel deficit and increase the level of professional training and retraining of trade workers, it is advisable to combine the efforts of large retail companies and educational institutions on the basis of a public-private partnership mechanism.

Новая концепция развития экономики Китая и значимость сотрудничества с российскими контрагентами для экономики КНР

The subject of the study is the main provisions of the new concept of the development of the Chinese economy as a logical continuation of the construc-tion of a socialist economy of the country with Chinese specifics. The purpose of the work is to identify the main components of the new concept of China's eco-nomic development, as well as prospects for cooperation between Russia and its regions with Chinese companies in the context of taking into account national specifics, culture, mentality of societies for the development of partnership across the entire spectrum of economic and humanitarian ties in compliance with the principles of multipolarity on the external contour of international relations. It is proved that in the main basic sectors of the economy of the People's Repub-lic of China, a strategy is being implemented to preserve and strengthen the im-pact of the levers of public administration. The two-circuit model of the new concept of economic development of the People's Republic of China is focused on stimulating domestic demand and consumption, the development of the do-mestic market as the basis for the progressive dynamics of the national economy, where the share of foreign trade in the country's GDP is optimized to ensure un-conditional compliance with economic security thresholds. The aspects of the benefits obtained by the Chinese economy from embedding the country in the process of economic globalization are investigated. The first results of China's economic development in the first half of 2023 are analyzed. The ways of in-creasing economic cooperation between Russian and Chinese companies, includ-ing at the regional level, are considered. It is concluded that the priority strategic partnership of China and Russia is aimed at the modernization and progressive development of their farms and the formation of strong and competitive econo-mies, excluding the imposition of ideological determinants or block confronta-tion in the relationship.

ВИКОРИСТАННЯ ІМІТАЦІЙНОГО МОДЕЛЮВАННЯ ДЛЯ АНАЛІЗУ ФІНАНСОВИХ АКТИВІВ

Enterprises operate in a dynamic environment, which is accompanied by the influence of various factors on the enterprise. Many of them pose a threat to the financial and economic condition of the enterprise and its ability to carry out production and economic activities. Also, the influence of external factors is often sudden and unpredictable, which requires immediate actions in the enterprise management system. Enterprises operate in a dynamic environment, which is accompanied by the influence of various factors on the enterprise. Many of them pose a threat to the financial and economic condition of the enterprise and its ability to carry out production and economic activities. Also, the influence of external factors is often sudden and unpredictable, which requires immediate actions in the enterprise management system. The article discusses the features of using simulation modeling for the analysis of financial assets. A simulation model is a dynamic model in which all processes are considered over time. Indicators of the efficiency of the use of financial assets have been calculated and principle schemes of models for enterprises in the service sector and agriculture have been built. The food industry is one of the most important and promising for the further development of industries in Ukraine, the effective activity of which can not only significantly increase the country's budget, but also create internal food security and ensure social aspects. Analysis of the service sector in Ukraine is gaining more and more relevance and occupies a key place in the economy of Ukraine. In recent years, the share of retail trade has almost doubled, and the volume of non-cash payments has exceeded 36% of all retail trade volumes in Ukraine. The degree of influence of internal and external factors on the company's financial assets is analyzed. The procedure of simulation modeling is considered using a mathematical model of two performance indicators – the turnover ratio of financial assets and the ratio of quick liquidity. The practical application of simulation modeling made it possible to visually display the main elements of the cycle of production and sale of products, taking into account the main factors of influence on the studied performance indicators.