International Market Research Articles

Leadership shift in the global soybean market: Dynamic connectedness approach (TVP-VAR)

The price transmission in international soybean market has been extensively examined. However, recent econometric advancements have enabled the application of dynamic connectedness methodology as outlined by Antonakakis and Gabauer (2017) [1], which is based on a Time-varying Parameter Vector Autoregressive (TVP-VAR) model. This approach captures the time-varying connectedness of time series, considering potential risk shock emitters and receivers. The connectedness index (Diebold and Yilmaz, Jan. 2012) [2] was developed using Generalized Forecast Error Variance Decomposition (GFEVD) and the Generalized Impulse Response Function (GIRF) (Koop et al., Sep. 1996; Pesaran and Shin, Jan. 1998) [3,4]. This study aims to understand the dynamic connectedness and price leadership. The research examined markets including the US Soybean futures market (Chicago Board of Trade), Rotterdam Port spot market representing the European soybean market, Paranaguá port representing Brazil, Argentina represented by Rosario Futures and Spot, and the Chinese domestic spot market and the Dalian futures on behalf of China. The research spanned approximately ten years, from September 2009 to May 2019. The findings suggest that the soybean market has reached a high level of maturity, able to withstand exogenous shocks for at least the past seven years. The net pairwise directional connectedness revealed dynamic and bidirectional causality. The dynamic connectedness index showed a highly connected and developed market in the West (Chicago Futures, Rotterdam, Paranaguá, and Rosario Futures and Spot). However, the connectedness between Western and Eastern markets was relatively low, indicating some level of market isolation. Furthermore, the pairwise connectedness index between Eastern market (China spot and Dalian Futures) was also considerable low. Lastly, Paranaguá and Rosario overtook Rotterdam as price-leading markets and were identified as the primary net transmitters of shocks, indirectly implying causality. Chicago, Rosario, and Paranaguá formed a triumvirate leading international prices, while Rotterdam adopted a secondary leading position, deviating from its historical role as the price leader.

Harnessing the potential: exploring development opportunities and charting strategic pathways for China’s enhanced engagement in international blue carbon cooperation

Abstract In light of the urgent need to combat climate change and attain carbon neutrality, the development of blue carbon has emerged as a pivotal strategy for the global community. This approach offers significant potential for both mitigating and adapting to the impacts of climate change. As a result, international collaboration on blue carbon initiatives has become a focal point in the worldwide response to the climate crisis. China, blessed with extensive blue carbon resources, recognizes the development of these ecosystems as a critical component in its efforts to make a substantial contribution to the global endeavor to curb climate change and achieve sustainable environmental goals. This article offers a comprehensive analysis of China’s opportunities and challenges in international blue carbon collaboration. Despite its vast potential, China faces significant hurdles, including the degradation of blue carbon ecosystems, a delayed start in implementing blue carbon practices, and inconsistencies in the blue carbon standard system. To enhance its participation in global blue carbon initiatives, China should pursue several key strategies, including preserving and restoring its blue carbon ecosystems, strengthening domestic protection and application mechanisms, promoting the construction of an international blue carbon system, establishing a scientific cooperation platform to facilitate capacity building and technology transfer and advocating for an international blue carbon market trading mechanism. By prioritizing these key areas, China can simultaneously foster domestic blue carbon conservation and development while solidifying its role as a pivotal contributor to global climate change mitigation efforts.

Internal Strategic Resource Market and Diversification in the Digital Age

Internal Strategic Resource Market and Diversification in the Digital Age

Judicial Authority in EU Internal Market Law: Implications for the Balance of Competences and Powers, by Vilija Ve?lyvyte.( Oxford: Hart Publishing, 2022.)

Judicial Authority in EU Internal Market Law: Implications for the Balance of Competences and Powers, by Vilija Ve?lyvyte.( Oxford: Hart Publishing, 2022.)

The position of Indonesia’s palm oil in the vegetable oil international market

Abstract The increase in global crude oil prices and awareness of energy sustainability are driving the development of the biofuel industry. Palm oil has high productivity and competitive prices compared to other vegetable oils, encouraging competition among major palm oil exporters and significant vegetable oils. The research examines factors influencing Indonesia’s position in the global vegetable oil competition and assesses how economic shocks impact Indonesian palm oil competitiveness. This study utilized the Almost Ideal Demand System model on secondary data in the time series period of 1990-2022. The research results showed that the increase in global income is the most influential factor in the rise in the market share of Indonesian palm oil. The increase in crude oil prices favored the position of Indonesian palm oil compared to Malaysia. Fluctuations in Malaysian palm oil prices could affect the competitiveness of Indonesian palm oil. Malaysia’s palm oil, soybean oil, and sunflower oil are more complementary than Indonesia’s. Indonesia needs to collaborate with significant vegetable oil exporters, to create a palm oil commodity exchange, and to synchronize policies from upstream to downstream to ensure the fulfillment of domestic and export palm oil needs.

Strategy for Increasing Exports of Indonesian Palm Oil

Abstract Palm oil and its derivatives contribute to 13% of Indonesia’s total exports. Indonesia has a significant opportunity to become a major player in the global palm oil trade but faces threats in expanding market access and even maintaining existing markets. This research aims to analyse the strengths, weaknesses, opportunities, and threats in the plantation sector, especially palm oil, in Indonesia, using competitiveness analysis and Export Product Dynamic to formulate strategies for enhancing the export of palm products and derivatives. From this analysis, it is concluded that Indonesia has strength in its geographic conditions, but needs to strengthen human resources, especially in the agricultural sector, and add value to export commodities beyond raw materials. With the growth of the international market and the increase in the number of free trade agreements held by Indonesia, the potential for developing market access for palm and its derivatives is likely to expand. However, Indonesia also faces non-tariff barriers and environmental unfriendliness stigma, resulting in rejection or obstacles for Indonesian products to enter export destination countries. Strategies to be explored further include expanding into emerging markets while maintaining traditional markets, optimizing research and development for upstream efficiency and downstream derivative product diversification, improving sustainable palm oil industry governance, and enhancing domestic policies to support the palm oil industry.

THE NEW ECONOMIC SECURITY OF THE EUROPEAN UNION

Geopolitical changes have shown that current threats are not only directed at the state’s security but also at the individual’s. Besides the traditional concept of security, a new concept has emerged: economic security. The liberal conception was based on the hypothesis that economic interdependence would lead not only to prosperity but also to greater security. Traditional analyses do not sufficiently capture the real connections between the economy and security. In traditional approaches to security, the key concept was state security; in neo-traditional ones, new actors such as international organizations and non-governmental organizations also intervene alongside the state. Transformations in the international system demonstrate the need for a geostrategic renegotiation of relations at the regional level to ensure states of regional economic cooperation based on principles promoted by the European Union. Our analysis is a qualitative one, examining documents relevant to our topic, as well as a series of theories that underpin our analysis. Our research methods include content analysis of important documents and a SWOT analysis of the current crisis generated by the conflict in Ukraine. The central issue is given by these major changes that challenge the European project. In the face of these geopolitical changes, the following question arises: “Can economic interdependence be used to create stable bilateral relations between EU member states and between the EU and third countries to ensure European economic security?” The research starts from the following hypothesis: “As long as there is cooperation between the countries neighbouring the EU, there will be no risk of conflicts.” Since the EU acts not only in its own interest but also to create a business environment conducive to the development of enterprises in member countries, the risks the EU is exposed to as a global actor will also impact various industrial sectors and the internal market. Our objective is to demonstrate that the European Union, as a regional actor, can ensure the economic security of member states in the face of new hybrid threats. Our analysis focus on examining the economic relations between the European Union and its Eastern neighbours in the context of rapid changes in the international arena.

MODERN FINANCIAL INNOVATIONS AND THEIR ROLE IN THE FORMATION OF THE INTERNATIONAL MONETARY AND FINANCIAL SPACE

The article attempts to systematize the patterns of modern financial innovations in the form of fintech and outline their impact on transformation in the international financial market and monetary space. The authors claim about paradigm shift in global financial landscape and present conceptual evaluation of its implications for both players and regulators. The results of the study would help deepen and expand understanding of the current dynamics and development prospects of financial markets and banking sector.

Notifications Related to Fraud and Adulteration in the Rapid Alert System for Food and Feed (RASFF) in 2000–2021

Fraudulent and adulterated food is produced mainly to reduce prices and attract consumers’ attention whilst threatening their economic interests, health, and safety. As such, this type of activity should be eliminated. This study’s aim was to identify the most common hazards related to food fraud and adulteration, reported in the Rapid Alert System for Food and Feed (RASFF) between 2000 and 2021, taking into account the product category (including individual products), country of origin, and notification type. We used Microsoft Excel (filtering, vertical-searching, transposition, and pivot table functions) and Statistica 13.3 (two-way joining cluster analysis) to analyse similarities between the hazards identified throughout the research period. Notifications relating to food fraud and adulteration accounted for 18.7% of all RASFF notifications, fluctuating between 1000 and 1200 per year in recent years. These mainly included hazards related to composition and novel foods in dietetic foods, food supplements and fortified foods, sulphites in fruits and vegetables, colours in cereals and bakery products, or Sudan in herbs and spices. Dietetic foods, dietary supplements, and fortified foods were mainly reported as alerts and information notifications, meaning that they were already available on the common European internal market. The other products originated mainly from outside the European Union (Asia—Turkey, Uzbekistan, India and Africa—Ghana, Nigeria) and were submitted on the basis of border rejections. Therefore, it is necessary to continue closely monitoring imported products at the EU border to ensure food safety, avoiding fraud and adulteration and protecting consumers’ financial interests.

EXPRESS: Untangling the Duality of Emerging Market Firms’ Response to OFDI Policies on Their Innovation Performance: A Resource Dependence Perspective

Firms’ international expansion, affected by outward foreign direct investment (OFDI) policies of home countries, can greatly shape their innovation performance. Yet, existing literature lacks sufficient investigation toward the nexus between corporate response to policies in OFDI activities and subsequent innovation performance. Thus, the authors designed this study to examine how a firm’s response to OFDI policies affects its innovation performance. Drawing upon the resource dependence theory, the authors theorize corporate response to OFDI policies as firm dependence on home government. By arguing that such dependence differentially affects firm innovation through support and control mechanisms, they elucidate the inverted U-shaped relationship between corporate response to OFDI policies (measured by the percentage of a firm’s OFDI projects in policy-favored markets) and innovation performance (measured as patent counts). Furthermore, this curvilinear relationship, they posit, is moderated and strengthened by home-government subsidies the firm receives (calculated as the ratio of annual subsidies received to yearly sales). With archival data of 2,050 Chinese listed manufacturing firms responding to specific OFDI policies during 2013–2021, their predictions are corroborated. Overall, by illuminating the innovation implications of OFDI as corporate response to policies, this study contributes to the international marketing literature in the context of emerging markets.

Social media platforms use in startups’ international marketing strategies: a multiple case study

PurposeThis paper aims to investigate how social media support startups in accessing international markets and interacting with foreign customers and stakeholders, focusing primarily on the social network LinkedIn.Design/methodology/approachGiven the explorative research aim, the paper adopts a multiple case study approach, analyzing seven Italian food tech startups. 15 semi-structured interviews were conducted, also involving startup accelerators and a business angel to deepen the knowledge on the investigated phenomenon. In addition, a content analysis of the LinkedIn pages of the seven selected startups was conducted using NVivo 14 software.FindingsThe results of this study show that social media support startups to (1) diffuse brand awareness in international markets, (2) position their offering abroad and (3) develop relationships with international stakeholders to penetrate the local business. Furthermore, the main challenges and difficulties related to the use of social media by startups for these purposes were identified.Practical implicationsThis study provides useful managerial implications to enable startups to strategically use social media to access international markets and connect with key foreign networks. Also from a policy perspective, incentives to support the expansion and consolidation of startups into international markets are crucial.Originality/valueAlthough a vast literature has dealt with internationalization strategies, this study clarifies the role of social media in changing these dynamics speeding up startups’ access to foreign markets and identifying key local stakeholders.

Analysis of Coconut Agribusiness Development Strategy in North Minahasa Regency

The development of coconut in North Minahasa requires an appropriate and efficient strategy. This research aims to assess and analyze the conditions in the coconut agribusiness system in North Minahasa, outline the factors of IFAS (Internal Factors Analysis Summary) and EFAS (External Factors Analysis Summary) matrices, and provide policy recommendations related to the coconut agribusiness development strategy in North Minahasa. The research was conducted over a period of 9 months, utilizing both primary and secondary data. Primary data were obtained through the distribution of questionnaires, followed by Focus Group Discussions with respondents and direct interviews with coconut farmers, collector traders, and coconut processing industries (producing copra, flour, and coconut milk) in North Minahasa Regency, as well as business entities involved in the coconut agribusiness. Secondary data were obtained from relevant institutions such as the Central Statistics Agency, the Regional Agriculture Office of North Minahasa Regency, previous research journals, and related books. The research results, analyzed through a SWOT analysis of the Coconut Agribusiness Development Strategy in North Minahasa Regency, fall into quadrant I, indicating an aggressive strategy with coordinates (0.42:0.44), aligning with strengths and opportunities. The derived strategy is S-O (Strength-Opportunity), focusing on maintaining the availability of raw materials, the market for processed coconut products, human resources, and land suitability, with support from the local government to increase community income and expand coconut processed products into the international market.

Analysis of asymmetric VR games – Steam platform case study

The paper presents research on the topic of asymmetric virtual reality (VR) games. These types of applications are in the development phase when it comes to their presence on the market, range, amount, and popularity. This research discusses the original topic, as it is still a niche compared to video games and even to VR applications on the market. The article presents a quantitative analysis of asymmetric VR applications available in the international market. One of the popular gaming platforms, Steam, was chosen as a subject for the case study in this investigation. The objectives of the conducted research include, first, a quantitative analysis and presentation of up-to-date data on asymmetric VR games available on Steam; then, providing and systematizing new knowledge about the asymmetric VR term, identifying the nature of asymmetric VR games, and finally, recognition of the current situation and the latest trends within the concept of asymmetric VR. Based on the results, it was concluded that the dominating genre of asymmetric VR was action (49.4 %), indie (46.0 %) and casual (45.4 %), followed by simulation (37.4 %). Most of the games were available in English (96.6 %), and far behind English, there were French and German languages (30.5 %), and then Spanish – Spain (28.2 %), Russian (27 %), Japanese (25.9 %), simplified Chinese (25.3 %) and others. The analysis of user re-views on Steam that asymmetric VR receive favorable feedback, with ‘very positive’ as the most prevalent label, representing 35.0 % of analyzed games. Notably, only four games achieved the ‘overwhelmingly positive’ label, including ‘Keep Talking and Nobody Explodes’ in the basic version and in the version with soundtrack (97 % positive reviews), ‘Rock Life: The Rock Simulator’ (95 % positive reviews), and ‘IronWolf VR’ (95 % positive reviews). Last but not least, the paper describes the features of the analyzed asymmetric VR application. The results of the research make a contribution to the field and provide new knowledge on the following: the new subarea of VR, the nature of asymmetric VR (author's concept), human behavior and interaction in asymmetric virtual gameplay, and communication in asymmetric VR.

Research on overseas communication of China-Chic cosmetics brands from a cross-cultural perspective

Brand communication in overseas markets is a major trend in the development of domestic brands today, especially the cosmetics industry, which has shown strong vitality in overseas markets by creating "China-Chic" characteristic brands. In this paper, cross-cultural perspective was adopted, China-Chic cosmetics brands as the main research object, brand communication in overseas markets as the main research content. The current situation, motivations and difficulties of the overseas communication of China-Chic cosmetics brands was analyzed in the paper, then drew research conclusions. It provided effective guidance and support for how China-Chic cosmetics brands can occupy a place in the international market in the future.

Did the entry of the corn ethanol industry in Brazil affect the relationship between domestic and international corn prices?

AbstractThis study investigates the relationship between corn prices in Brazil and the international market, considering a rise in corn ethanol production in Brazil's Midwest region since 2017. Did the entry of the corn ethanol industry in Brazil affect the relationship between domestic and international corn prices? A cointegration analysis was made with a monthly time series from May 2005 to August 2023 controlling for different exogenous events or shocks that may have affected global agricultural markets. The study's findings indicate a stable long‐term relationship between the international and Brazilian corn prices, with changes in international prices being predictors of variations in Brazilian domestic prices, while the opposite was not statistically supported. The study also found no evidence to support the claim that the entry of the corn ethanol industry into Mato Grosso state in 2017 impacted the prices paid to local producers. Therefore, the increase in Brazilian corn prices cannot be attributed to additional demand for corn by local mills, an important result that contributes to discussions such as food versus fuel and indirect land use change.

التسويق الداخلي في المصارف وتاثيره في تعزيز القيادة العلائقية: دراسة تحليلية لاراء عينة من العاملين في القطاع المصرفي الحكومي في محافظة النجف الاشرف

يهدف مشروع البحث الحالي إلى تحديد علاقة تأثير التسويق الداخلي في تعزيز القيادة العلائقية من خلال تحليل آراء عينة من العاملين في بعض فروع المصارف الحكومية في محافظة النجف الاشرف , وينطلق البحث من مشكلة تتمثل في وجود ضعف في القيادة العلائقية بسبب ضعف تبني التسويق الداخلي في المصارف مجال الدراسة ،ومن خلال ماتقدم يمكن تاطير مشكلة الدراسة بالتساؤل الرئيس ماهو اثر التسويق الداخلي في تعزيز القيادة العلائقية ولكي يتم معالجة مشكلة الدراسة تم جمع المعلومات اللازمة من خلال اعتماد مقياس الدراسة (استمارة الاستبيان) ، ومن ثم تصنيف وتحليل البيانات باستخدام الطرق الاحصائية المعتمدة ، وتم تحليل بيانات الاستبانة باستخدام برامج التحليل الاحصائي ( SPSS v.23 ) و(SMART PLS) و (MICROSOFT EXCEL ) ، كما تم اعتماد المنهج الوصفي التحليلي ، في معالجة المشكلة , وتتمثل عينة الدراسة ب(150 ) من العاملين فروع المصارف الحكومية في محافظة النجف . وتوصلت الدراسة الى استنتاجات اهمها وجود علاقة تأثير موجبة ذات دلالة معنوية للتسويق الداخلي في القيادة العلائقية في المصارف المبحوثة , وانتهت الدراسة بمجموعة توصيات اهمها ضرورة توجه المصارف المبحوثة نحو تبني مفهوم التسويق الداخلي كمنهج اساس لاسهامه في تعزيز القيادة العلائقية .

THE IMPACT OF BREXIT ON THE PEACE PROCESS IN NORTHERN IRELAND

The article analyzes Brexit as a factor influencing the Good Friday Agreement and the transformation of the peace process in Northern Ireland, as well as the relationship between Northern Ireland and the Republic of Ireland. It is argued that Brexit poses a threat to the security of Ireland and the EU, since it undermines the foundations of the peace process in Northern Ireland and creates the likelihood that the border will be closed on the island of Ireland again. The Good Friday Agreement of 1998 was based on the fact that both signatory states are members of the EU, and many of its provisions will not be implemented after Brexit. It has been proven that after Brexit, the most controversial issue was the border between Northern Ireland and the Republic of Ireland, which became the external border of the EU. The border, which was heavily militarized during the conflict, became virtually invisible after its settlement, and people and goods freely cross it. This became possible largely because both Ireland and the UK were part of the EU single market, a common set of rules that ensures the free movement of goods, services, people and finances within the bloc.It is argued that the new relationship between the EU and the UK, which was agreed during 2020 and implemented from January 2021, resulted in an attempt to resolve the complex border issue, which was carried out in the Northern Ireland Protocol. The arrangements of the Northern Ireland Protocol, according to which Northern Ireland, but not the rest of the UK, remains within the framework of the EU single market for goods, make it possible to maintain an open border between Northern Ireland and the Republic of Ireland. The establishment of an open border was a key aspect of the Northern Ireland peace process and the 1998 Good Friday Agreement, which ended the conflict in Northern Ireland. It is shown that the Northern Ireland Protocol creates a de facto customs border in the Irish Sea between Northern Ireland and the United Kingdom. Mainly to address the concerns of the DUP unionists about the Northern Ireland Protocol, in 2022-2023, the EU and the UK agreed on revised mechanisms for its operation – the Windsor Framework, which entered into force on March 24, 2023. The DUP refused to accept the Framework Program as meeting their interests until early 2024. Further adjustments to its work have not been agreed upon and the formation of a new Northern Ireland executive has not begun. It is proved that Brexit is becoming a new and significant factor in the unification of Northern Ireland with the Republic of Ireland. Brexit has put the issue of the unification of Ireland at the top of the political agenda of both parts of Ireland. The majority of Northern Irish residents voted to remain in the EU in the 2016 UK referendum. Unification would give Northern Ireland, where both British and Irish citizens live, full EU citizenship.

The ten-year anniversary of public procurement reforms: a critical assessment of the European Union public procurement Directives

This article evaluates the objectives of the legal framework on public procurement in the European Union and assesses its contribution to the internal market. The author provides for a critical analysis of the evolution of the public procurement acquis, which reveals an environment occupied with conceptual and regulatory interfaces, exhibiting advanced interoperability with legal systems of Member States and faced with continuous market-driven modality changes in awarding and financing public contracts for the delivery of public services.

ESG Rating Divergence: Literature Review and Research Prospects

ESG (Environment, Social and Corporate governance) has become the core of the global sustainable development agenda, and the issue of rating divergence has increasingly attracted the attention of academia and industry. Compared to the international market, the research on ESG rating divergence in China is still in its infancy, and there are significant differences in the standards and systems adopted by different rating agencies. This article aims to comprehensively review and analyze the current situation of ESG ratings at home and abroad, the influencing factors of rating differences, and their economic consequences, and provide suggestions for the construction and optimization of China's ESG rating system. It is hoped to provide valuable references and guidance for further research and practice of domestic ESG ratings, thus providing effective guidance for stakeholders' decision-making.

Strategies to Enhance Drivers Benefits and Establish an Intra-Corporate Social Business in Leading on-Demand Company (Ride Hailing)

Driven by social mission and mandate of government towards Sustainable Development Goals (SDG), one of the leading Indonesia ride-hailing company (INDOJEK) has launched and run a drivers’ welafe program named ProDrivers. The program is supposed to reducing drivers’ expenses. In this research, author attempts to crack the dilemma, specifically the ProDrivers program, to not only creating social impact, but also generating a sustainable social business that can provide unlimited resource to sustain INDOJEK social initiative to drivers. Author has used mixed-method in deploying this research, both qualitative and quantitative. Data collection was conducted to both drivers (as ProDrivers beneficiaries) and internal ProDrivers team (as strategist and executor of ProDrivers program), through survey, interview and focus group discussion (FGD). Using theories, such as 9 core elements of marketing and marketing mix (7Ps) which provide insight on how to improve ProDrivers program adoption, and internal marketing to understand to which extent ProDrivers program has delivered to drivers. Aside of it, author also uses some tools, such as New Wave of Marketing to facilitate marketing improvement. Revenue Model to find alternatives which ProDrivers can earn income and also Social Business Model Canvas to discover new business model