Trade Practices Research Articles

Efficacity of Consumer Protection Act in Safeguarding the Rights of Consumers

Abstract: Everyday people engage themselves in buying and selling products or services. This activity is the fundamental quality of humans without which human existence is impossible and as far as human memory goes people have engaged in this activity. With the emergence of a capitalistic atmosphere around the world, buying and selling are now not only restricted to essential products but have turned into a whole advertisement gimmick and trend. Although, the simplest of all human activities, buying and selling is not ingenious and uncomplicated activity. Consumers have been subjected to misleading assurances, unfair trade practices, frauds, etc., since time immemorial and since the beginning of human consciousness, it has been duly realized to regulate and rectify this activity to prevent the consumers from getting duped and cheated.

CRITICAL ANALYSIS OF MERGERS AND ACQUISITIONS WITH REFERENCE TO RECENT TRENDS

Mergers and Acquisitions (M&A) are increasingly being used all over the world to improve the competitiveness of companies by gaining more market share, widening the portfolio to reduce business risk, entering new markets and geographies, and capitalizing on economies of scale, etc. In India, too, they have become a matter of everyday occurrence. They are the subject of interest counting for different individuals, such as business executives who are looking for potential merger partners, investment bankers who manage mergers, lawyers who advise the parties, regulators concerned with stock market operations and growing business sectors in the economy, and researchers who want to understand these concepts better. It is also said that a lot of mergers are simply acquisitions. One company purchases another and integrates it into its own business model. Many statistics on mergers are presented for the combined mergers and acquisitions (M&A) that are occurring as a result of this misuse of the term merger, because of which mergers and acquisitions can be treated as the same even though they are different from each other. The trend of merger and acquisition in India began in 1988 when Swaraj Paul attempted a hostile takeover of DCM Ltd. and Escorts Ltd.[1] at a time when the only mergers in India were friendly family mergers or friendly deals with pre-negotiated terms. These mergers were few due to the unfavourable provisions of the Monopolies and Restrictive Trade Practices Act, 1969 (MRTP Act, 1969).

Перехід до селективного регулювання роздрібної торгівлі в Україні на основі досвіду ЄС

The article analyzes the causes and consequences of the rapid development of retail trade networks. It is shown that this contributed to increased production efficiency, while retail chains gained market power and began to play a key role in the supply chains of many consumer goods. This allows them to redistribute in their favor part of the value added created in other sectors. For this purpose, they use unfair trading practices: unjustified delays in payments for delivered products, imposing services that do not add value to suppliers, transferring commercial risks to them, etc. The system of regulation of retail trade in European countries has been studied. Differences in the regulation of this sector in 13 countries were analyzed based on the data of the Retail Restrictiveness Indicator. It is shown that the strictest restrictions are enforced in Belarus and in Italy. The regulatory regime in the Baltic states is the most liberal. The authors argue that in the EU countries there is a tendency to move to selective regulation of retail trade, whose object primarily includes "discontinuities" in commodity and financial flows in the systems of vertically adjacent commodity markets. Selective regulation does not limit the operation of market mechanisms, but, on the contrary, promotes their more efficient functioning, eliminating market failures without a significant regulatory burden on business. On the one hand, restrictions on the opening of large-format stores, on trade at reduced prices, etc., are considerably eased. On the other hand, regulation is introduced in certain areas where it was not implemented before. Clarified changes in the regulatory system of retail trade in the EU after adoption of Directive 2019/633 on unfair trading practices in business-to-business relationships in the agricultural and food supply chain. The authors substantiate the necessity and ways of transition to selective regulation of retail trade in Ukraine. It is shown that the prohibition of unfair trading practices in the food supply chain is much more important in Ukraine than in EU countries. The need to implement the norms of EU Directive 2019/633 into domestic legislation by adopting the Draft Law "On protection against unfair trading practices in relations between business entities in the field of supply of agricultural and food products" has been justified.

A marine cleaning mutualism provides new insights in biological market dynamics.

Most mutually beneficial social interactions (cooperation within species, mutualism between species) involve some degree of partner choice. In an analogy to economic theory as applied to human trading practices, biological market theory (BMT) focuses on how partner choice affects payoff distributions among non-human traders. BMT has inspired a great diversity of research, including research on the mutualism between cleaner fish Labroides dimidiatus and other marine fish, their 'clients'. In this mutualism, clients have ectoparasites removed and cleaners obtain food in return. We use the available data on L. dimidiatus cleaner-client interactions to identify avenues for future expansion of BMT. We focus on three main topics, namely how partner quality interacts with supply-to-demand ratios to affect service quality, the role of threats and forms of forceful intervention, and the potential role of cognition. We consider it essential to identify the specifics of each biological market as a basis for the development of more sophisticated BMT models. This article is part of the theme issue 'Half a century of evolutionary games: a synthesis of theory, application and future directions'.

Agricultural associations and fair trade in the Peruvian rainforest: a socioeconomic and ecological analysis

Fair trade initiatives represent an essential support for the scarce opportunities that have arisen in the agricultural sector, as they cover various areas that contribute to increasing good trade practices. It is essential to highlight the contribution of fair trade in urban and rural areas, as it becomes a valuable incentive for differentiation. The main objective of this study was to determine how Fair Trade is applied in the socioeconomic and ecological sphere in an association of sustainable agricultural producers in the Peruvian jungle. This is quantitative research with a non-experimental cross-sectional design. The survey technique was used, and a questionnaire was applied to 99 agricultural producers in the Amazon region of northern Peru, because it would help to analyze the new challenges of fair trade. In addition, data analysis and processing was carried out with Microsoft Office Excel and SPSS. The results show that 51% of the producers surveyed have been sensitized to adopt socially responsible actions aimed at strengthening sustainable development, social responsibility and good practices for fair trade in favor of the preservation of the resources of the Peruvian Amazon, as well as the socioeconomic development of farmers and the region itself. Forty-seven percent carry out social responsibility activities under the guidance of the Fairtrade organization, which has accompanied farmers to obtain Fairtrade certification. In addition, 59% of respondents say that they engage in healthy competition that generates trust among farmers. Fairtrade enables associated farmers to improve their ethical behavior and respect for their rights as well as those of the entire community.

Business practices of trade and service firms: Evidence from Vietnam

Business practices of trade and service firms: Evidence from Vietnam

Having a Profit Center of Fuel and Mineral Trading is Already Essential for the Mining Companies and the Skillsets they Need

Price uncertainties are increasing as diverse buyers and sellers are coming into the fuel and minerals market. There are supplyside uncertainties due to resource depletion, supply chain problems, and prolonged wars and conflicts. Uncertainties enhance risk. Moreover, standard trading practices in the minerals and oil and gas industries like long-term supply agreements with rigid price–fixing mechanisms are being challenged by short-term trading agreements and contracts where the price rigidities are non-existent; the market determines the price on the basis of the supply of buyers and sellers in an open market. Moreover, the market for derivatives of minerals and oil and gas is becoming more pronounced as the various uncertainties to secure materials supply are growing. In order to tread in the unknown waters of flexible trading, the mining companies can think of opening a profit center with qualified people to tide over the challenges and to gather knowledge of the trading system, which will also influence how the financing of the project investments would take place in the future.

Socio-economic indigenous drivers of soils and water conservation practices use to cope with climate change in the region of Plateau Central in Burkina Faso

Continuous soil degradation and recurrent droughts caused by climate change are challenging agricultural production in the Central Plateau region of Burkina Faso. Some management techniques were developed and disseminated to farmers, in order to reduce the effects of drought and restore degraded soils. However, the adoption rate of these techniques is still low. The present study aimed at identifying and analysing the indigenous determinants of the adoption of zaï and stone rows techniques by farmers. Zaï is a small planting pit of about 20–30 cm in width, 10–20 cm deep, and filled with organic matter (manure, compost or dry biomass). Stone row is an anti-erosive device built of blocks of rubble assembled by a series of two to three. Data were collected through a survey carried out on 135 heads of households in four municipalities in the provinces of Kourwéogo and Oubritenga. A binary logistic regression model was used to analyse the factors determining the adoption of zaï and stone rows practices. The results showed that the level of education, membership to a local organization and cattle ownership positively influenced the adoption of zaï. In addition, membership to a local organization positively affected the adoption of stone rows. In contrast, the practice of small trading negatively affected the adoption of zaï. Therefore, it is essential for institutions, policymakers and NGOs to consider these factors in order to make their interventions more efficient in a global change context.

Regional Analysis of Nitrogen Flow within the Chesapeake Bay Watershed Food Production Chain Inclusive of Trade.

In the Chesapeake Bay Watershed, excess nitrogen has contributed to poor water quality, leading to nitrogen mitigation efforts to restore and protect the watershed. The food production system is a top contributor to this nitrogen pollution. While the food trade plays a vital role in distancing the environmental impacts of nitrogen use from the consumer, previous work on nitrogen pollution and management in the Bay is yet to carefully consider the effect of embedded nitrogen found in products (nitrogen mass within the product) imported and exported throughout the Bay. Our work advances understanding across this area by creating a mass flow model of nitrogen embedded in the food production chain throughout the Chesapeake Bay Watershed that separates phases of the production and consumption processes for crops, live animals, and animal products and considers commodity trade at each phase by combining aspects of both nitrogen footprint and nitrogen budget models. Also, by tracking nitrogen embedded in products imported and exported in these processes, we distinguished between direct nitrogen pollution and nitrogen pollution externalities (displaced N pollution from other regions) from outside of the Bay. We developed the model for the watershed and all its counties for major agricultural commodities and food products for 4 years 2002, 2007, 2012, and 2017 with a specific focus on 2012. Using the developed model, we determined the spatiotemporal drivers of nitrogen loss to the environment from the food chain within the watershed. Recent literature leveraging mass balance approaches has suggested that previous long-term declines in nitrogen surplus and improvements in nutrient use efficiency have stagnated or begun to reverse. Our results suggest that within the Chesapeake Bay, increased corn and wheat acreage and steadily increasing livestock/poultry production may have led to the stagnation in decreasing N loss trends from agricultural production observed over the past two decades. We also show that at the watershed scale, trade has reduced the food chain nitrogen loss by about 40 million metric tons. This model has the potential to quantify the effect of various decision scenarios, including trade, dietary choices, production patterns, and agricultural practices, on the food production chain nitrogen loss at multiple scales. In addition, the model's ability to distinguish between nitrogen loss from local and nonlocal (due to trade) sources makes it a potential tool to optimize regional domestic production and trade to meet local watershed's needs while minimizing the resulting nitrogen loss.

Guest editorial: Innovative practices in business, trade and commerce – challenges and opportunities

Guest editorial: Innovative practices in business, trade and commerce – challenges and opportunities

Demand Side Management and Peer-to-Peer Energy Trading for Industrial Users Using Two-Level Multi-Agent Reinforcement Learning

Over the past few years, with more concerns on energy equity, energy security and environmental sustainability, peer-to-peer (P2P) energy trading market has increasingly attracted attention to energy users. With the rising electricity price and the growing public doubt to unsustainable development, more efforts are given to the integration between P2P energy trading and industrial practice. To date, the current research work has emphasized electricity cost reduction using demandside management (DSM) and P2P energy trading market to promote energy sharing and create a win–win situation for all industrial market participants. However, less attention has been given to evaluating industrial production. With this attention, this paper formulates a cost minimization problem for multiple discrete manufacturers, where DSM and P2P energy trading market are integrated to optimize manufacturing productivity and energy consumption. Moreover, this paper proposes a two-level reinforcement learning (RL) method to obtain the optimal DSM and energy trading strategies for discrete manufacturers. Unlike the existing RL approaches, the proposed method depicts a twolevel learning approach, where the upper-level program suggests a production plan for the manufacturer to improve the cost return, while the lower-level program optimizes the net benefits. Further, to verify the performance of the proposed method, simulations are conducted based on four different case studies, including different weather and load conditions. Numerical results demonstrate that the proposed algorithm provides a better production plan with enhanced learning speed and economic benefits compared to the existing RL approaches.

한국과 영국의 FTA개선협상과 새로운 무역환경에 관한 분석

Purpose – The aim of this analysis is to provide implications for trade practice by analyzing FTA progress in the digital economy and trade field with IPEF through FTA improvement negotiations between Korea and the UK, and an analysis of the new trade environment. Design/Methodology/Approach – The annual export/import growth rate (year-on-year) before and after the Korea-UK FTA was concluded and forecasts for 2022 and 2023 were reviewed. This data from 2000 to 2021 are based on the Economic Statistical System of the Bank of Korea. It recorded 33.20% in 2021, the second highest growth rate since the 2000s, after recording 36.95% in 2004. It was estimated through the model of ARIMA (1, 1, 0) in the case of 2022 and 2023. After the Korea-UK FTA was concluded, it was found that the trade volume of Korea-UK combined exports and imports increased. Findings – In the future, it is expected that joint cooperation and R&D investment in high-tech and hightech industries will be more actively developed through improvement negotiations in the fields of SCM, digital economy, and trade. Research Implications – The US is currently emphasizing US production of optical fibers, semiconductors, and electric vehicles as well as key parts in relation to the global supply chain. Therefore, the Korea-UK FTA improvement negotiation and framework require joint cooperation and R&D investment in the reorganization of the US global supply chain in cutting-edge industries, including US semiconductors, science law, and inflation reduction laws.

Role of The WTO (World Trade Organization) To Limit Dumping Practice

International trade is a cross-border buying and selling transaction, which involves two parties and crosses state boundaries. Dumping is a system of selling goods on foreign markets in large quantities at very low prices with the aim that domestic purchase prices are not lowered so that they can eventually dominate foreign markets and regain control of prices. From the above background, the problem in this research is the role of the WTO (World Trade Organization) to limit dumping practices. Answering these problems the researchers used a normative juridical approach. Normative juridical approach is an approach that is based on the main legal material by examining theories, concepts, legal principles and laws and regulations related to this research. The results of the study show that in GATT it is clear that the position of dumping is an act of unfair trade (unfair trade practice) because it violates the principles of MFN. This is why he considers dumping as Unfair Trade Practice in GATT. Then the anti-dumping regulation in Article VI of the GATT is intended as a policy to overcome dumping. The WTO in this position is as a forum for dispute resolution and provides a conciliation mechanism to resolve trade disputes that arise. So that the position of the WTO is as a facilitator in preventing dumping disputes.

Trade Practice Rules in Competition Law

The paper is devoted to the study of trade practice rules as a way to prevent violations of antitrust laws. The author analyzes scientific and practical approaches to the definition of the concept and content of trade practice rules, as well as corporate procedures for the development and approval of the rules in question, including by business entities that occupy a dominant position in the commodity markets. Trade practice rules should be understood as a corporate document that establishes the procedure for selecting counterparties by an economic entity for concluding contracts for the supply of goods and the essential terms of such contracts in order to minimize the risks of abuse of a dominant position in the commodity market. It was revealed that trade practice rules are developed by economic entities on a voluntary basis to establish non-discriminatory conditions for interaction with counterparties and forcibly on the basis of an order from the antimonopoly authority in order to stop the abuse of a dominant position or prevent restriction of competition in transactions of economic concentration. The latest trends in the application of trade practice rules related to ensuring the priority of deliveries of goods to the domestic market and the rejection of foreign exchange indicators in the pricing of Russian goods are identified.

Human and Livestock Surveillance Revealed the Circulation of Rift Valley Fever Virus in Agnam, Northern Senegal, 2021

The mosquito-borne disease caused by the Rift Valley Fever Virus (RVFV) is a viral hemorrhagic fever that affects humans and animals. In 1987, RVFV emerged in Mauritania, which caused the first RVFV outbreak in West Africa. This outbreak was shortly followed by reported cases in humans and livestock in Senegal. Animal trade practices with neighboring Mauritania suggest northern regions of Senegal are at high risk for RVF. In this study, we aim to conduct a molecular and serological survey of RVFV in humans and livestock in Agnam (northeastern Senegal) by RT-PCR (reverse transcription real-time polymerase chain reaction) and ELISA (Enzyme-Linked Immunosorbent Assay), respectively. Of the two hundred fifty-five human sera, one (0.39%) tested RVFV IgM positive, while fifty-three (20.78%) tested positive for RVFV IgG. For animal monitoring, out of 30 sheep recorded and sampled over the study period, 20 (66.67%) showed seroconversion to RVFV IgG antibodies, notably during the rainy season. The presence of antibodies increased significantly with age in both groups (p < 0.05), as the force of RVF infection (FOI), increased by 16.05% per year for humans and by 80.4% per month for livestock sheep. This study supports the usefulness of setting up a One Health survey for RVF management.

Ethical Practice, Trade, and Food: Muslim Restaurants in South Mumbai

The production, consumption, and distribution of food is central to many religious practices and often considered distinct from the capitalist imperative to market, commodify, and profit. Yet, even scholarship that overcomes the now outdated binary of morality or religion versus the immoral market, continues to represent religion as a distinct sphere of life, with a moral content contrasted or compared to market practice. It is considered an achievement to note how religious practice exhibits affinities with market developments. There is little recognition of how religions as discursive traditions are inseparable from questions of consumption, trade, and exchange, which render the very distinction of religion versus market as an obstruction to analysis. Through an ethnography of the narratives and material practices of two Muslim-owned restaurants in the old Muslim quarters of South Mumbai, I show how different calibrations of Islam are materialized in restaurant spaces and trade practices in the city. Within the context of increasing marginalization of Muslim bodies and food practice in Mumbai, I argue that the restaurants constitute a complex and differential moral economy of food, poverty, care, and aspiration.

Evolution of retail in Russia

This study purpose was to investigate the historical evolution of trade in Russia, spanning three distinct periods: pre-Soviet, Soviet, and post-Soviet eras. In the article authors analyzed the shifts and continuities in Russia’s trade landscape over time and understand how historical patterns influence contemporary trade dynamics. Authors used methods of data collection from primary sources, including archival research and economic statistics, supplemented by a review of scholarly literature. Both qualitative and quantitative analyses were conducted to extract insights into trade practices, regulations, and economic conditions. The results reveal significant transitions, including the dominance of state-controlled trade during the Soviet era and the emergence of retail chains in recent years. Retail chains have evolved to assume distribution functions, blurring the lines between trade and production. In conclusion, this historical analysis elucidates the historical context of Russia’s trade practices, offering insights into its economic evolution. Understanding the impact of historical events on trade structures provides valuable perspectives for comprehending contemporary trade dynamics in Russia.

Initiatives towards inclusive trading practices of rice value chain in Pila, Laguna, Philippines

Rice industry in the Philippines is beset with environmental, social, and economic concerns resulting in low farmer incomes, lack of food security and meager competitiveness. This study aimed to develop inclusive interventions on rice trading practices involving smallholder farmers. Primary data were derived from baseline interviews from farmers, traders, millers, wholesalers, and retailers to assess trading practices involved in the chain. Stakeholder consultations were also conducted to validate the findings and identify strategies for the initiatives. Based on the results, the major challenges identified include high production and marketing costs of paddy attributed to high material inputs and labor costs. This leads to a low profit margin for smallholder farmers. This gap relates to poor market linkage that limits the ability of farmers to receive higher prices for their produce. Interventions involving the improvement of marketability through market innovation were prioritized to address the gap. Recommendations concerning reducing institutional barriers towards smallholder farmers was provided to broaden adoption of inclusive trading practices and foster a more equitable and sustainable rice value chain.

The Motion-Picture Rights Contract: Legal Foundations and Trade Practices in the Studio Era

ABSTRACT: This article relates the piecemeal history of the motion-picture rights contract—a legal document that emerged following several high-profile court cases that clarified the distinct existence of film rights from other subsidiary rights, including dra matic or theatrical. By delving into negotiations surrounding several film rights contracts between best-selling author Edna Ferber and Warner Bros., I demonstrate the tenuous relationship between the American copyright system and the trade practices developed by lawyers and agents. Without clear guidance on subsidiary rights, motion-picture rights contracts were inherently flexible documents, capable of bending to favor whichever side could leverage the most power.

The Motion-Picture Rights Contract: Legal Foundations and Trade Practices in the Studio Era

ABSTRACT: This article relates the piecemeal history of the motion-picture rights contract—a legal document that emerged following several high-profile court cases that clarified the distinct existence of film rights from other subsidiary rights, including dra matic or theatrical. By delving into negotiations surrounding several film rights contracts between best-selling author Edna Ferber and Warner Bros., I demonstrate the tenuous relationship between the American copyright system and the trade practices developed by lawyers and agents. Without clear guidance on subsidiary rights, motion-picture rights contracts were inherently flexible documents, capable of bending to favor whichever side could leverage the most power.