Small Traders Research Articles

Confucius Culture Values in Supporting the Performance of Chinese Ethnic Small and Medium Traders

Confucius Culture Values in Supporting the Performance of Chinese Ethnic Small and Medium Traders

Manian Tradition: History, Social, and Economy of Kailolo Village, Central Maluku, East Indonesia

This research aims to find out the history, process, and impact of the implementation of Manian tradition in Kailolo Village, Central Maluku, Eastern Indonesia. The novelty of this research is to examine the cultural history, and its impact on the social life of the community and the income of the people of Kailolo Village. This research was conducted using an ethnographic approach with interview, observation, and documentation data collection techniques. The results of the study show that this Manian tradition has been carried out since ancient times where this tradition was carried out to commemorate the birthday of the Prophet Muhammad SAW. Manian implementation has rules which must be started by the Tuanany clan, the Marasabessy Putiiman clan on the 25th Rabiul Awal, the Usemahu clan on the 26th Robi’ul Awal, the Marasabessy Nurlembe clan on the 27th Rabi'ul Awal, the Ohorella clan on the last Monday of the month of Robi’ul Awal, and the Marasabessy Nurlembe Minor clan must be after the Marasabessy Nurlembe clan. The implementation of Manian greatly impacted the solidarity and brotherhood of the people of Kailolo village. In addition, the Manian celebration also affects increasing the income of speedboat business actors, motorcycle taxi drivers, and small traders.

Determining the business environmental factor constructs relevant to small and medium-sized enterprises trade credit management

Background: Within the conceptual paradigm that the business environment of South Africa could significantly impact on small and medium-sized enterprises, (SMEs) management of trade credit, the need exists for internal and external business environmental factors to be constructed, in order to understand how SMEs rate these factors.Aim: The research purpose was to identify and construct relevant internal and external business environmental factors and obtain SME ratings for these factors to statistically test the validity and reliability of the measurement instrument.Setting: This study was conducted by administering an online questionnaire.Method: Quantitative research design with purposive sampling as the sampling method, administrated to 10 450 SMEs within South Africa.Results: A descriptive statistical analysis revealed that the highest quality internal and external business environmental components were managerial competencies and ethics, respectively. Factor analysis resulted in the formulation of five internal and six external business environmental factors. In addition, SMEs do not rate internal and external business environmental factors equally. Managerial competencies obtained the highest overall mean score for all business environmental factors, including the highest for internal factors. Small and medium-sized enterprise and debtor ethical performance obtained the highest means score for external factors.Conclusion: The formulation of newly constructed internal and external business environmental factors relevant to SMEs’ management of trade credit.Contribution: As far as can be established, research identifying variables and constructing internal and external business environmental factors relevant to SME management of trade credit has not been conducted in South Africa. The newly formulated internal and external business environmental factors broaden SMEs’ understanding of which business environmental factors are relevant to SMEs’ management of trade credit, including how SMEs rate these factors.

COVID-19, food coping strategies and households resilience: the case of informal sector in Burkina Faso.

The closure of markets in the city of Ouagadougou due to COVID-19 pandemic has had consequences on the food security status of households, in particular households of informal sector. The objective of this paper is to analyze the effect of COVID-19 on households' likelihood to resort to food coping strategies taking into account their resilience capacities. A survey was carried out among 503 households of small traders in five markets in the city of Ouagadougou. This survey identified seven mutually inclusive food coping strategies which are endogenous and exogenous to households. Thus, the multivariate probit model was used to identify the factors explaining the adoption of these strategies. The results indicate that the COVID-19 pandemic has had an impact on households' likelihood to use certain food coping strategies. Furthermore, the results show that assets and access to basic services is the main pillar of household resilience that reduces how likely a household resort to coping strategies due to COVID-19. Therefore, strengthening adaptive capacity and improving social security of households of informal sector are relevant.

On the foundation of monopoly in bilateral exchange

We address the problem of monopoly in general equilibrium in a mixed version of a monopolistic two-commodity exchange economy where the monopolist, represented as an atom, is endowed with one commodity and “small traders,” represented by an atomless part, are endowed only with the other. First we provide an economic theoretical foundation of the monopoly solution in this bilateral framework through a formalization of an explicit trading process inspired by Pareto (Cours d’économie politique. F. Rouge Editeur, Lausanne, 1896) for an exchange economy with a finite number of commodities, and we give the conditions under which our monopoly solution has the geometric characterization proposed by Schydlowsky and Siamwalla (Q J Econ 80:147–153, 1966). Then, we provide a game theoretical foundation of our monopoly solution through a two-stage reformulation of our model. This allows us to prove that the set of the allocations corresponding to a monopoly equilibrium and the set of the allocations corresponding to a subgame perfect equilibrium of the two-stage game coincide. Finally, we compare our model of monopoly with a bilateral exchange version of a pioneering model proposed by Forchheimer (Jahrbuch für Gesetzgebung, Verwaltung und Volkswirschafts im Deutschen Reich 32:1–12, 1908), known as a model of “partial monopoly” since there a monopolist shares a market with a“competitive fringe.” Journal of Economic Literature Classification Numbers: D42, D51.

Blockchain-Based Automated Market Makers for a Decentralized Stock Exchange

The advancements in communication speeds have enabled the centralized financial market to be faster and more complex than ever. The speed of the order execution has become exponentially faster when compared to the early days of electronic markets. Though the transaction speed has increased, the underlying architecture or models behind the markets have remained the same. These models come with their own disadvantages. The disadvantages are usually faced by non-institutional or small traders. The bigger players, such as financial institutions, have an advantage over smaller players because of factors such as information asymmetry and access to better infrastructure, which give them an advantage in terms of the speed of execution. This makes the centralized stock market an uneven playing field. This paper discusses the limitations of centralized financial markets, particularly the disadvantage faced by non-institutional or small traders due to information asymmetry and better infrastructure access by financial institutions. The authors propose the usage of blockchain technology and the data highway protocol to create a decentralized stock exchange that can potentially eliminate these disadvantages. The data highway protocol is used to generate new blocks with a flexible finality condition that allows for the consensus mechanism to configure security thresholds more freely. The proposed framework is compared with existing frameworks to confirm its effectiveness and identify areas that require improvement. The evaluation of the proposed approach showed that the improved highway protocol boosted the transaction rate compared to the other two mechanisms (PoS and PoW). Specifically, the transaction rate of the proposed model was found to be 2.2 times higher than that of PoS and 12 times higher than that of the PoW consensus model.

Strategies for Survival in an Informal Economy: Illegalities of Zimbabwean Informal Cross Border Traders at Ports of Entries in Southern Africa.

Informal Cross Border Trade (ICBT) is mostly conducted by poor, vulnerable, small and unregistered traders who end up practising illegal activities in order to earn a livelihood and for the business to thrive. They often do not have official export/import license or permit within a defined threshold and this creates many impediments at international borders which oblige them to engage in illegal and corrupt behaviours. There is little comprehensive research about the illegalities of informal cross border traders and whether these illegalities improve the operation of ICBT or it ruins the business. This research examines the illegalities practised by informal cross border traders (ICBTs) in Zimbabwe to understand their nature, geographical spread, benefits and risks. A qualitative approach was used whereby in-depth interviews were undertaken with 30 informal cross border traders using snowball sampling. Traders who imported from Mozambique, Botswana, South Africa and Zambia were selected to participate in the study in order to document various illegalities performed at diverse national borders. Results revealed that traders engage in many illegal activities both at the national borders and in transit when confronted by Zimbabwe Revenue Authority officials and other security state organs. It was revealed that many traders use illegal ports of entry when importing their goods and that they rarely declare their goods at official border posts. The research recommends the government to proffer conditions that are manageable for the small scale traders to be registered so that illegal activities and corruption in the country can be lessened and also for the government to obtain meaningful tax from this sector.

Social Histories of Iran: Modernism and Marginality in the Middle East

Social Histories of Iran: Modernism and Marginality in the Middle East

Средние слои в Российской империи в начале XX в.

The article examines the middle strata in Russia at the beginning of the 20th century, gives a definition of the term. The author indicates the dual nature of the middle strata: owners and workers, managerial and creative work. The term of middle strata reflects the economic, social and professional heterogeneity of the so-called middle class. The «old» and «new» middle strata are distinguished and those groups of the population that can be attributed to them. The old (traditional) middle strata, who came from the estates of peasants and burghers, included small traders, clerks, artisans, as well as other representatives of small and medium-sized businesses. All of them, with the development of market relations and liberation from estate dependence (in particular, shop restrictions), became professional workers. Their combination of property and personal labor was obvious: property was materialized, entrepreneurs worked in their institutions, and they were engaged not only in managerial and organizational work, but also in performing work, even if they attracted a certain number of workers. The new middle strata included various categories of employees, officials, intellectuals, including women. Their appearance and numerical growth were associated with the rapid development of capitalism in the Russian Empire after the bourgeois reforms of the second half of the 19th century. The work of these persons, as a rule, was well paid and had an independent character. They also possessed intellectual property. The new middle layers outnumbered the old ones in specific gravity. The author concludes that the middle layers were characterized by numerical growth and general scarcity; uneven territorial distribution (predominance in cities); multi-layered composition (capitalist and small-scale production); social, professional and industry heterogeneity; a combination of class and estate principles. All this testified to the incompleteness of the processes of class formation in the Russian Empire at the beginning of the 20th century.

Dampak Globalisasi Terhadap Pasar Tradisonal Di Indonesia

Globalization is an unavoidable phenomenon involving various sectors, when all of countries in the world has been integrated become one market that is that is no limited by territorial area. In the economy and trade, Globalization has affected various social structures. The large number of foreign investor has entered to Indonesia is one of the effects of globalization in the world of economy and trade. Investation is one of the key for strengthening process in economic development. The business sectors has become a destination for investation is a modern retail industry. There is investation with capital strength in the modern retail industry sector make modern markets has begin, such as Supermarkets and Hypermarkets, Mini Markets and Mall. The investation in the modern market are mushrooming and uncontrollable, it makes competition between modern markets, especially supermarket in Indonesia. Foreign investor has big capital also take part for this investation. Ease come an investor as a result of the globalization era is a challenge for the economic development of the common people, in this case micro, small and medium enterprises in traditional markets. The progress of modern market are rapidly and unstoppable, if it is allowed to continue, traditional markets which are forum for middle and lower economic actors, one of which is small traders, street vendors, etc. will be sidelined and displaced.

Comparing the Destination Principle and Origin Principle in Sales Tax: Implications for Pakistan's Tax System

This study evaluates the influence of destination and origin principles on the tax system of Pakistan. This study examines destination and origin concepts, terminology, and the VAT system. This report comprehensively examines literature, data, and case studies to evaluate the appropriateness of these approaches for Pakistan's tax system. Sales tax is levied based on the destination principle, whereby it is determined by the location of the eventual user rather than the producer. The origin principle imposes sales tax based on the location where goods or services are produced or rendered. To comprehend the practical implications of these principles, it is essential to compare and contrast the concepts of "sales" and "supply".The legal definition of "business" impacts sales tax in various transactions. Comprehending zero-rated supply is essential due to its influence on the tax liability of different goods and services. The excise tax is a component of the sales tax in Pakistan. Excise duty is levied on domestically produced, imported, and sold goods within the nation. The responsibility for liability lies with either the manufacturer or importer, depending on their manufacturing capacity or the specific items involved. Furthermore, the paper examines the concept of value-added tax (VAT). Producers improve raw materials prior to selling the end product or service. The Value Added Tax (VAT) system effectively captures value addition at every stage of production, thereby improving efficiency and eliminating biases in production choices. This study examines the difficulties encountered by small traders and retailers within Pakistan's tax system, specifically in relation to sales tax. An efficient tax system requires improved tax administration and voluntary compliance. Comparing sales tax principles is beneficial for tax policymakers in Pakistan. It facilitates comprehension of the pros and cons associated with each concept, enabling well-informed choices regarding tax systems to attain economic objectives and generate income. The report encompasses pertinent literature and legal obligations pertaining to the tax policy discourse in Pakistan.

Does the Prohibition of Trade-Through Hurt Liquidity Demanders?

The Impact of the Prohibition of Trade-through In the paper titled “Does the Prohibition of Trade-Through Hurt Liquidity Demanders?” the authors explore the effects of the order protect rule (OPR) in the United States, which prohibits any trade-through in the stock market that does not execute at the best possible price among fast trading venues. The study found that, whereas trade-throughs may offer flexible trading strategies that can benefit liquidity demanders, the benefits are insignificant for most cases, especially for small trades and stocks with fast resilience. The paper suggests that the current separate regulations for fast and slow venues may be extended to differentiate stocks with fast and slow resilience speeds. The results are supported by a case study using the data from the Australian Securities Exchange. Overall, this study supports the regulation of the OPR.

THE ROLE OF COOPERATIVES IN THE ECONOMIC DEVELOPMENT OF COOPERATIVE MEMBERS IN TUBAN DISTRICT

This research is a qualitative descriptive study. The subject of this research is the field of cooperatives at the Office of Cooperatives for Small and Medium Enterprises and Trade in Tuban Regency and cooperative actors. The research instrument is the researcher himself. Data collection techniques used are observation, interview, and documentation techniques. The data analysis technique used is data reduction, data display, and conclusion or verification. The theory used in this study uses the opinion put forward by Soerjono Soekanto which consists of a formal role, an informal role, an active role, and a participatory role. Based on the research, it can be concluded that the formal role of cooperatives as providers is part of supporting capital and formal institutions that provide for the needs of cooperative members and the general public, the informal role of cooperatives is an implicit (emotional) role, so when many members actively save, pay contributions, then the turnover of cooperative funds becomes smooth, the active role of cooperatives is holding annual meetings with members or RAT, the passive role of cooperatives is that there are no activities such as Annual Member Meetings so there are no reports to Diskopumdag and participatory roles are when cooperatives and their members both understand their roles and working together to advance the cooperative. It can be seen that the role of cooperatives is very important in helping the community's economy, especially those who are members of cooperatives, so the existence of cooperatives, both active and inactive, needs to be encouraged and facilitated to develop the quality of cooperative management so that the existence of cooperatives can help the economic development of the community, especially to encourage improvement the economy and welfare of its members.

Return On Assets, Current Ratio,Net Profit Margin, Total Asset Turnover Berpengaruh Terhadap Perkembangan Laba Pada Industri Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2015- 2019

This study aims to test whether Return On Assets, Current Ratio, Net Profit Margin, Total Asset Turnover have an effect on the growth of profits listed on the Indonesia Stock Exchange. This research is a type of quantitative descriptive research, which uses data from 135 large and small trading sector manufacturing companies listed on the Indonesia Stock Exchange. Partially, the variables of return on assets, current ratio and total asset turnover have no effect on profit growth. Meanwhile, the net profit margin variable has a positive effect on profit growth. And simultaneously, the independent variable has no effect on the profit growth variable. The sampling method used in this research is purposive sampling. The method in this research is descriptive analysis method and multiple linear regression analysis method.
 Keywords: Return On Assets, Current Ratio, Net Profit Margin, Total Asset Turnover, Profit Growth

Did small banks trade off lending with government bond purchases during the Sovereign debt crisis?

At the beginning of the decade, many banks in euro-area periphery countries shifted their portfolios from corporate lending towards sovereign debt holdings. According to some scholars, this was the result of the moral suasion exerted by domestic authorities; others suggest instead that it was the outcome of a free choice of weak banks that bet-for-resurrection increasing the holdings of risky, high yielding government bonds. Our analysis shows that the contemporaneous increase in banks’ total assets and the portfolio readjustment from loans to government bonds can be explained by a surge in the risk-premium required by banks on corporate lending. After briefly describing our hypothesis within a simple model of a bank’s portfolio choice, we test its empirical implications on a large sample of individual loan data granted by over 100 Italian small banks during the post sovereign debt crisis period (2012–2014). Our results provide convincing evidence in support of the hypothesis that the banks which increased the most their government bond holdings were also those which reduced more significantly their credit supply.

Judging a book by its cover: Analysts and attention-driven price patterns in China's IPO market

This study investigates the effect of analyst coverage in the primary market on IPO performance. Using a novel data set on analyst coverage in China's IPO Market, we find that the number of analysts covering a firm is positively associated with IPO initial returns. We also show that analyst coverage is positively related to small trading activities during the first trading day. Instrument variable analysis and other robustness tests provide consistent estimates. Additional analysis suggests that analysts attract the attention of individual investors, who then drive IPO initial returns and long-term price reversals in the post-IPO market. These findings contradict the argument that analysts reduce information asymmetry and instead support the attention hypothesis.

Value Chain Analysis of Tomato: A Case Study in Anis District - Dhamar Governorate, Yemen

This study considered an analysis of the value chain of tomato production and its related activities, conducted in Anis district - Dhamar governorate, to carry out a financial analysis of the whole chain in order to assess the added value and the distribution of profit margins between the different actors. This article maps and analyzes the tomato value chain in Anis District . Primary data was collected through a survey method adopting a multistage random sampling technique. The value chain highlighted the involvement of various actors, who directly or indirectly participated in the value chain. The different actors identified in the study area were input suppliers, farmers, traders, wholesalers, retailers and finally consumersThe result revealed that the main actors in the value chain are input suppliers, tomato producers, tomato pickers, small and large traders, processors and consumers. The market share of the producers shows that the producers get the largest share, which is 1350 YER. The main problems facing the tomato value chain are found to be low prices, high perishable nature, lack of access to credit, inadequate storage and processing facilities, lack of market information, and lack of financing for cultivation. While farmers rated low price as the most worrisome constraint, poor transportation facilities for the region producing tomatoes were rated as the most pressing constraint for value chain players.

Structure, conduct, and performance of beans marketing in Malawi: A case study of Lilongwe District

Poorly performing markets are one of the major limitations to achieving high farm income and ultimately poverty reduction in sub-Saharan Africa. Using the structure, conduct, and performance approach applied to bean markets in Malawi, we bring to light the status and performance of the smallholder marketing system. Multiple methods were employed in this study: the Herfindahl-Hirschman Index to evaluate the market structure; adopted pricing strategies and affiliation with large companies or associations to assess conduct; and marketing margins to measure market performance. Our results show that 39 percent of markets are imperfectly competitive. Also, the lack of reliable markets, purchase prices, access to credit, operating capital, and transaction costs were major factors that undermined the potential for bean traders to operate at a higher scale. The commonly adopted pricing mechanisms include cost-plus pricing, dynamic pricing, and quality-dependent pricing. Very few bean traders (7%) are affiliated with large trading companies and associations. Seven bean marketing channels were observed. We recommend that policies favoring improvements in rural road networks and market infrastructure should be encouraged to reduce transaction costs. In order to eliminate barriers to increasing quantities of beans handled by traders, the government should provide soft loans with low interest rates to traders. Deliberate actions to promote the affiliation of small traders with larger companies and associations involved in bean trading should be promoted.

"Assessment of Efficiency of Marketing Channels and Constraints in Marketing of Jute in Cooch Behar District, West Bengal"

"Jute is an important commercial crop with multiple uses. The present study looks into the marketing channels, price spread, marketing efficiency and marketing related problems of jute growing farmers in Cooch Behar district of West Bengal. A sample of 80 farmers and 10 market intermediaries each (faria or small traders and big traders) and two FPO were taken randomly. Three marketing channels were identified. Majority of the jute producers marketed their jute in channel I followed by channel II and channel III. Producers’ share in consumer rupee and marketing efficiency was highest in channel III followed by channel II and I. Major marketing problems faced by jute producers were involvement of more number of middlemen, lack of organized marketing system and high marketing cost."

Business Development towards Competitive Advantage in the Era of the Industrial Revolution 4.0 on MSMEs Guitar Artists in Sukoharjo Regency

Introducing new and updated products is a way for companies to survive in a market. The purpose of this study is to identify and describe the important stages in business development and the formulation of business development strategies, analyze the internal and external environment, and plan business development for MSME Guitar Craftsmen in Sukoharjo Regency. The data collection method used in this study was interviews. The data analysis method used is descriptive qualitative analysis. The results showed that the SMEs of Guitar Craftsmen in Sukoharjo already have high competitiveness. In order to maximize the development of SMEs , several strategies that can be proposed through the RBV approach are assistance by the Small and Medium Enterprises Cooperative Trade Office of Sukoharjo Regency in branding, copyright, and preparation to penetrate the export market,and strengthening capacity and cohesion with fellow members of the Amanah Cluster in determining the network and negotiating raw material prices with suppliers.