Transaction Value Research Articles

Are “buy X get X free” price promotions effective? An acquisition-transaction value perspective

Purpose“Buy X Get X Free” promotions are popular across retail settings. Retailers promote a variety of products using this promotional frame. However, past research contains mixed findings about the effectiveness of this promotion compared to the straightforward discount on a single unit of a product. The goal of this research is to employ a theoretical lens to examine the effectiveness of “Buy X Get X Free” promotions.Design/methodology/approachThe theoretical framework was tested in two experiments using different products and samples. The data collected from each experiment were analyzed using both descriptive and inferential techniques to assess support for the theoretical arguments.FindingsFindings reveal that at identical levels of per-unit discount, the “Buy X Get X Free” promotion is perceived less favorably by consumers than a straightforward single-unit discount. Consumers perceive lower transaction value and acquisition value and, thereby, a lower purchase intention, from the “Buy X Get X Free” promotion compared to a single-unit discount.Practical implicationsThis research was conducted keeping in mind the popularity of the “Buy X Get X Free” promotion in the real world. The findings caution retailers against indiscriminately using this promotional frame.Originality/valueUsing a theoretical lens, this research proposes and validates a framework to systematically examine consumers' perceptions of the two popular discount frames. The proposed theoretical framework provides a richer understanding of the underlying consumer psychology that drives the evaluation of these promotions. Further, primary data from lab experiments validates the framework. The research also helps advance the understanding of consumer evaluation of sales promotions in general.

FINANCIAL INCLUSION IMPLICATIONS ON THE LIQUIDITY OF THE NIGERIAN CAPITAL MARKET

The objective of this study was to examine the implications of financial inclusion on capital market liquidity in Nigeria. Therefore, we applied Vector Autoregression (VAR) technique to the analysis of the quarterly time series data obtained from Central Bank of Nigeria’s statistical bulletin and World Development Indicators for the period, 2008Q1 to 2018Q4. Findings of this study reveal that deposit penetration, bank penetration and credit penetration have positive but non-significant impact on stock market turnover ratio in Nigeria. Furthermore, unlike deposit penetration which exerts negative and non-significant influence on the value of shares traded ratio; bank penetration and credit penetration have positive but non-significant impact on the value of shares traded ratio in Nigeria. The study posits that financial inclusion exerts no significant influence/implications on stock market liquidity in Nigeria with a very negligible variation in the latter (stock market liquidity) explained by the former (financial inclusion). It is therefore recommended that accounts and bank penetrations should be re-engineered towards their translations to high volume and value of capital market transactions rather than mere financial penetration without any capital market implications in Nigeria.

Contrast and Fusion: The Role of Regional Culture in Shaping Jiangsu Paper-Cut Art

The Chinese paper-cut art, first recorded in the Wei, Jin, and Southern and Northern Dynasties (220 AD–589 AD), has witnessed the changes of times, yet it still retains its artistic vitality. Chinese papercuts can be divided into two schools: the northern and the southern. Jiangsu, located in the region of the Yellow River and Huai River, is the geographical dividing line between those two schools. Therefore, in Jiangsu Province, not only the rough northern art form (such as in Xuzhou papercut) but also the graceful southern art form (such as in Jintan papercut) is evident. In addition, the unique combined paper-cut style (such as in Yangzhou and Nanjing papercuts) can be appreciated here. Although several scholars have analyzed the artistic characteristics of Jiangsu papercut based on cultural background, very few have discussed the differences between the northern and the southern in terms of content, connotation, and style. Through literature review and collected works made by local craftsmen and inheritors of this tradition, this article aims to show readers the contrast and integration of papercuts in these four places under the influence of different cultural and economic backgrounds in order to better understand the role of regional factors in shaping the art form of papercuts in Jiangsu Province. Nowadays, with the change in people’s lifestyles, the living space of traditional papercuts has shrunk drastically, and its practicability in the past has faded. Instead, people are searching for and creating cultural and artistic value in museums, tourist attractions, and commodity transactions. Among them, some works have deviated from the cultural background of traditional paper-cut art. Therefore, this paper provides a basis for the current development of this art form in Jiangsu.

ANALISIS PENGARUH PENGGUNAAN TRANSAKSI NON TUNAI ELEKTRONIK DAN DAYA SUBSTITUSINYA TERHADAP TRANSAKSI TUNAI DI INDONESIA

Electronic non-cash transaction is an innovation of payment methods. E-money is one of its popular forms. An electronic non-cash transaction using e-money has more advantages than using cash transaction. These advantages make e-money transaction keep increasing. Currently, the increment in e-money transactions has also been accompanied by a decreament in the amount of cash transaction, even though the nominal is still small. This study aims to analyze the effect of electronic non-cash transaction instruments on cash transaction in Indonesia.The dependent variable in this study is cash transactions, the value of cash transactions in this study uses an approach from data on the amount of Gross Domestic Product (GDP) and the value of non-cash transactions (e-money). The independent variables is electronic non-cash transaction proxied by e-money users, number of reader machines, nominal e-money transactions, nominal clearing transactions, and nominal BI-RTGS transactions as a proxy for electronic non-cash transactions. Macroeconomic factors are also added to this study as independent variables, such as GDP, private consumption expenditure, BI interest rate, and inflation rate. This research uses quantitative methods using time-series data from January 2015 to June 2020. The data analysis method used in this research is the Engle-Grangel cointegration test and the error correction model (ECM).The results of the study shows that the number of users and the nominal of e-money transactions as a proxy for electronic non-cash transactions are able to substitute cash transactions in Indonesia in the long-run. While in the short-run, just the nominal of e-money transaction as a proxy for electronic non-cash transactions are able to substitute cash transactions in Indonesia.

The impact of capital market on the economic growth of Nigeria

The study assessed how the capital market affected Nigeria's economic expansion. Specifically, the impact of the Nigeria stock exchange's total value of transactions (TVTs), all-shares index (ASIs) and stock market capitalisation (MCAP) on Nigeria's economic development was evaluated. Time-series data covering 1986–2021 was obtained in the study. Estimation methods used in the study’s analysis include descriptive statistics correlation analysis, ARDL co-integration analysis, parsimonious error correction model, variance decomposition and other post-estimation tests. Discoveries from the study showed that MCAP positively impacts economic growth in the long and short run. The ASI affects economic growth positively and insignificantly in the long and short runs, and the TVTs exerts a significant positive effect on the economic growth of Nigeria. Hence, the study suggested that the Security and Exchange Commission should explore measures, including technological integration in trading activities, to deepen development in the capital market. Keywords: All-share index, gross fixed capital formation, market capitalisation, real gross domestic product, total value of transactions;

Accounting unreliability risks in the context of accounting reform

Subject. This article examines the problems of ensuring the reliability of accounting as an accounting system that summarizes all the economic events of the organization's activity and reflects the true data based on documented values of business transactions. Objectives. The article aims to substantiate the fallacy of the modern official accounting formation on the basis of a combination of regulatory and economic accounting concepts, leading to the unreliability of its data for making management decisions. Methods. For the study, we used analysis, systems approach, and logical generalization. Results. The article proposes to recognize there might be unavoidable unreliability in the existing accounting system, identify two accounting options, and distinguish between the areas of application of each of them, making official accounting based on a normative approach. Conclusions and Relevance. Accounting is necessary to provide managers at the organization's various levels with information in order to manage the enterprise. The financial result of the organization's activities is the only reliable indicator reflecting the growth or decrease in invested capital. Its formation should be based on documents fixing economic actions and their cost data. The presented results of the study are intended for the development of theoretical views on accounting paradigms and their application in the formation of practical accounting methods.

More than capital? Transaction costs, trade-offs, and value for small businesses in novel funding transactions

ABSTRACT The transaction cost economics framework has been used for more than three decades to explain how firms transact and organize in hierarchies and markets. However, when market innovations and societal changes occur, organizing theories should be updated to reflect the novel aspects of the environment. In this paper, we leverage recent technology and social innovations as a catalyst for synthesizing and extending transaction cost theory. Venture funding transactions today only vaguely resemble funding transactions from decades past. Yet, scholars still frequently rely on theoretical tenets that were established before the advent of the internet to explain funding transactions. In this research, we codify venture-funding modalities along a continuum from more market-esque to more hierarchical and develop funding transaction propositions for the new funding context.

The Nonlinear Impact of Payment System Innovation on Financial System Stability in the ASEAN-4 Countries

The increasing growth of financial system encourages payment system innovation that can affect financial system stability, particularly in ASEAN countries. This study explored a variety of payment system innovation, i.e. debit cards, credit cards, electronic money, and RTGS. The financial system stability index is measured by calculating the composite indexes of non-performing loans, Z-score from ROA and CAR, share price volatility, and yield bonds. The components of the indexes are structured to reflect risks from the banking, stock, and bond markets. The resulting index value indicates the level of risk in the financial system. A higher index specifies a higher risk and a more vulnerable financial system. Furthermore, it is noted that the effects of the independent variable can change according to economic conditions. The panel threshold model was applied to calculate the effects of various regimes, namely innovation, GDP, credit ratio, and stability index. The panel data were obtained from the ASEAN-4 countries (Indonesia, Malaysia, Thailand, and the Philippines) from 2012 to 2020. The panel threshold analysis shows an increase in the value of debit card, credit card, and RTGS transactions. Specifically, innovation and GDPR negatively affect the stability index. Increasing the value of payment system innovation will decrease the risk to financial system stability in ASEAN countries. The monetary authorities of each country can implement these findings by considering the rapid development of payment system innovation and the danger it may pose to financial system stability.

ANALYSIS OF THE APPLICATION OF PAYMENT CARDS IN THE COUNTRY AND ABROAD

In the past years, the digitalization process is moving forward and the possibilities and different payment methods are expanding more and more, but the covid pandemic forced that process to go at a stronger pace, faster digitialization of financial services and thus provided faster and better functions for bank customers. The results of various researches show that as a result of the offer of a large number of alternative payment methods, not only the customers benefit, but also the online merchants who in this way realize more sales. Although there has been a change in the payment landscape and a number of alternative payment methods have been offered, payment cards remain number one among them all.The purpose of this paper is to analyze the application of payment cards in our country, their structural participation in the total value and the total number of payments, i.e. their application at virtual and physical sale, with an emphasis on contactless technology, i.e. contactless payment cards . A comparative analysis of the use of payment cards in different years has also been made. An analysis of the use of Macedonian payment cards for purchases in foreign countries was also made according to their participation in the total value of electronic transactions.

PRI: PCH-based privacy-preserving with reusability and interoperability for enhancing blockchain scalability

Blockchain systems, one of the most popular distributed systems, are well-applied in various scenarios, e.g., logistics and finance. However, traditional blockchain systems suffer from scalability issues. To tackle this issue, Payment Channel Hubs (PCHs) are proposed. Recent efforts, such as A2L (SP'21) and Teechain (SOSP'19), enhance the privacy, reusability, and interoperability properties of PCHs. Nevertheless, these solutions have intrinsic limitations: they rely on trusted hardware or suffer from the deposit lock-in problem. Furthermore, the functionalities of some of these solutions are restricted to fixed-amount payments and do not support multi-party participation. These aforementioned problems limit their capabilities to alleviate blockchain scalability issues. In this paper, we propose PRI, a novel PCH solution that simultaneously guarantees transaction Privacy (i.e., relationship unlinkability and value confidentiality), deposit Reusability, and blockchain Interoperability, which can mitigate the aforementioned problems. PRI is constructed by several new building blocks, including (1) an atomic deposit protocol that enforces user and hub to deposit equivalent assets in a shared address for building a fair payment channel; (2) a privacy-preserving deposit certification scheme that leverages the Pointcheval and Sanders signature and non-interactive zero-knowledge proof to resolve the deposit lock-in issue in maintaining payment channels; (3) a range proof which ensures the legality and confidentiality of transaction values. We conduct extensive experimental evaluations of PRI, demonstrating that it improves the state-of-the-art approaches in terms of performance.

WAYWARD VOICES: CHORUS, IMPROVISATION AND UPHEAVAL IN …(IPHIGENIA)

Iphigenia is the archetype of virgin sacrifice, a daughter dispossessed of her voice and body, killed for the gods, the father and the nation. From Euripides to Racine, from Gluck's opera to Cacoyannis's film, across time and media, Iphigenia has embodied the paradox of a voice that emerges as the condition of its annihilation. Hers is a choiceless choice: to consent to her sacrifice with varying degrees of fervor and possible rationales, to submit to an economy the terms of which are set by capricious gods, a reckless king, a pusillanimous father and a masculine military baying for blood. The daughter embraces her death so that the father's reputation remains intact, so that no more lives are lost in vain, so that the army can set sail. Iphigenia's sacrifice is a familiar cultural script regarding the transactional value of girls under patriarchy. Her sacrifice is the price of entry into a ‘hero-industrial complex’ that positions her simultaneously as protagonist and victim, savior and scapegoat.

Evaluation Of The Level Of Usefulness Of The "Jeknyong"�Application Using The Computer System Usability Questionnare (CSUQ) Method

The Jeknyong application (Ojeke Inyong) is a household garbage collection service application with a transaction value. However, the use of the Jeknyong application has not been maximized because there are obstacles, such as several features still in development. This study discusses the Evaluation of the Level of Usability of the "Jeknyong" Application using the Computer System Usability Questionnaire (CSUQ) method, where Usability is a technique to find out how easily users can use the system, how efficiently and effectively the system can help users achieve goals. Data collection used a questionnaire with Banyumas community subjects who knew the Jeknyong application. The results are in the form of an indexed percentage of 85% in the Agree Interval category. The first variable System Usability (SYSUSE) evaluation results were 5135 or in the agreed interval. The second variable Information Quality (INFOQUAL) was 4588 or in the Fairly Disagree category. The third variable, Interface Quality (INTERQUAL), was 2039 or in the Agree category; the third variable, Overall Usability (OVERALL), gets a result of 709 or is in the Strongly Agree interval.

A Study on the Value of New Media Broadcast Rights for Major Sports Events

This paper adopts the deductive method to discuss in detail the application of the income approach in the valuation of event retransmission rights. By splitting the income hierarchy to estimate the expected income, applying the market comparison method to measure the share rate, reasonably calculating the discount rate with the help of a model and determining the duration of the income according to the characteristics of the event, constructing a new media retransmission rights asset valuation formula, creating a basic model for the valuation of sports event copyright assets, and applying the Winter Olympic Games The validity of the model was initially verified by applying the case of the Winter Olympic Games, and it was concluded that under the guidance of the valuation idea of the income approach, it was possible to assess the value of retransmission rights transactions.

Related Parties Transactions and Firm Value: Intermediate Effect of Sustainability Performance

Bu çalışmada, ilişkili taraf işlemlerinin firma değerine etkisinde sürdürülebilirliğin aracı rolünün incelenmesine yönelik bir araştırma yapılmıştır. Çalışma, BİST 100 endeksinde işlem gören ve 2015-2021 yılları arasında düzenli olarak sürdürülebilirlik raporlaması yayımlayan 23 adet işletme şeklinde toplam 163 adet gözlemden oluşmaktadır. Çalışmada, dinamik panel tahmin yöntemlerinden biri olan Genelleştirilmiş Momentler Metodu kullanılmıştır. Çalışma sonuçlarına göre, ilişkili taraf borçlarının firma değeri üzerinde pozitif yönde, ilişkili taraf satışlarının ve alımlarının ise firma değeri üzerinde negatif yönde bir etkisi vardır. Ayrıca gerek sürdürülebilirlik gerekse sürdürülebilir sosyal sorumluluk faaliyetlerinin ilişkili taraf işlemleri ile firma değeri arasındaki ilişkiye aracılık ettiği tespit edilmiştir.

Research on the Current Situation of Live Streaming - Taking DouYin as an Example

According to the study backdrop for this work, the formal debut of Douyin on September 20, 2016, means that it is accessible to users of all ages. The emergence of Douyin instantly drew a sizable number of users because, in recent years, as the economy has grown, people's entertainment lives have been richer. influx. The live broadcast feature and the shopping cart were successfully opened by Douyin in March 2018. Live streaming advanced when Douyin introduced the red man product window in May 2018. The history of Douyin's development and its effects as the primary platform for live streaming will be examined in this article. This article will conduct study using data comparison, yearly report comparison, and particular head anchor situations. The primary information includes the transaction trend graph, traffic source, order source, GMV (total cumulative transaction value in the live broadcast room), GPM (thousand views), UV (gross transaction value per view), CUP (customer unit price) (gross transaction value per number of transactions), percentage of transaction fans, and per capita viewing time (stay), among other things. This article analyzes the market structure and environment of live broadcast delivery, as well as the advantages and disadvantages of development for live broadcast delivery from the consumer's point of view. It also analyzes the viability of personal and business development. Finally, it offers some development recommendations.The findings of the study demonstrate that Douyin has benefited from the present e-commerce live broadcast delivery by attracting a sizable flood of users due to its unique qualities. The popularity of Douyin is not a coincidence, yet it doesa natural outcome of the ongoing shift in societal tendencies.

Analysis of Post-COVID-19 Hospital Service Quality: A Study Based on Patient Perceptions

This study provides a conceptual and empirical investigation of the effect of items on measuring the quality of post-COVID-19 health services based on patient perceptions in the health sector. The proposed measurement item for Consumer Perceived Value Healthcare (CPV Healthcare) against Healthcare Service Quality (HEALTHQUAL) was tested using data collected from a hospital in Medan City from 253 respondents. The data set included 185 patients and 68 respondents from the public from June 2022 to November 2022. This research is associative research using a quantitative method approach. Data analysis used SPSS with ANOVA testing, Simple Regression, Pearson Correlation, and t-test for correlation analysis of dependent variable measurement items (CPV Healthcare = 27 items) on independent variables (HEALTHQUAL = 32 items) in patient care (inpatients, outpatients, and family members of patients in the emergency room) and between patients and groups of the general public. The results showed a strongly significant difference between CPV Healthcare measurement items and patient and community HEALTHQUAL. This study underscores the most significant dimension of CPV Healthcare and validates the relationship between the value of Service Quality in the healthcare sector which is a function of transaction value and self-satisfaction value. Patients like personal care and relief from depressive moods when cared for by professional nurses and doctors in the hospital. This study is limited theoretically to assess the relationship between CPV Healthcare and Healthcare SERVQUAL. Need to be assessed in future studies, such as consumer experience, experience and job satisfaction of hospital staff (nurses & doctors), patient ethnicity, and hospital image, need to be assessed in future work.

Building Organizational Governance and Service Culture Based on Digital Platforms

Digital society is a reality of life in the 21st century where humans in various sectors of their lives are linked to digital technology. The era of digitalization refers to a description of the situation of changes in the lifestyle and behavior of individuals and organizations today. This is evidenced by the increase in internet users in Indonesia. During the Covid 19 pandemic, the use of the internet was used for online learning systems in elementary schools, middle schools, high schools and universities. Internet users are increasing rapidly. 2017 has reached 143.26 million people or equivalent to 54.68 percent of the total population of Indonesia. This number shows an increase of 10.56 million people from the survey results in 2016. 143.7 million people today and 202.6 million in 2021. The digital transaction value of IDR 203 t in 2019 Rp256t, 2020. IDR 403t in 2021 and IDR 530 t in 2022 (projection). The implications of using the internet and other social media in the learning process, shopping, and so on require rearrangement of the business service system; public services are increasingly facilitated on the one hand, and on the other hand, institutional arrangements and a new work culture need to be refined so that positive excesses can be increased and negative excesses can be reduced. The negative excesses of the transformation process resulted in cyberporn and cybercrime. The transformation process toward digital requires structuring talent and culture. The changes in the mindset and culture of the bureaucracy provide evidence of the increasing need for an agile paradigm in reforming the bureaucracy. However, it is realized that the challenges of implementing an agile paradigm are not easy. The bureaucracy is required to be able to create public services that are not one-size-fits-all but rather personalized. The way the public bureaucracy has been working has proven to be unable to produce innovative policies.

Maximization, internal reference price and consumers' response to promotions

PurposeThis study shows the influence of consumers' goal and strategy of maximization on the process behind their behavioral response to price.Design/methodology/approachData was collected through a 2×2 experimental design involving 314 respondents and analyzed using PLS-SEM.FindingsThe results show that when buyers maximize, their transaction value and acquisition value perceptions predict their behavioral response to deals and discounts. Further, these buyers do not consider sales price information to form their internal reference price. On the other hand, when buyers satisfice, their transaction value perceptions predict the behavioral responses to price deals, and the relationship between transaction value and the behavioral response is not mediated by acquisition value. Further, such buyers consider sales price to form their internal reference price.Originality/valueThe theory of purchase value assumes that consumers seek to maximize their value. Our work relaxes this assumption to show how value maximizers (and satisficers) differ in the process of value formation and their responses to price promotions.

Estimating the potential of international carbon markets to increase global climate ambition

By helping achieve emissions targets more inexpensively than expected, emissions trading systems can lower political resistance to more ambitious targets, enabling deeper and faster cuts in emissions over time. Using a dynamic global partial-equilibrium carbon market model, we quantify cost savings under scenarios for emissions trading within and across countries, as well as the corresponding potential to escalate reductions if those cost savings were translated into greater mitigation.We find global use of carbon markets could allow the world to nearly double climate ambition relative to current Paris pledges (NDCs) over 2020–2035, without increasing total costs compared to a base case without international markets.Significant potential to enhance ambition remain under scenarios where market participation is limited using a “heat map” analysis of countries’ market readiness, as well as with policy uncertainty that delays climate investments. We also find that since protecting tropical forests offers so much low-cost mitigation potential, linking reduced deforestation to an international carbon market drives a majority of the potential ambition gains across the modeled scenarios. International markets, including for deforestation, play a potentially even more critical role as global ambition increases, with roughly double the volume and ten-fold the value of international transactions if countries’ Paris pledges scale up to limit warming to 2°C. Under this scenario, global use of carbon markets lowers costs by two thirds, enabling one third more reductions for the same cost as without international markets, a gain sufficient to keep options open for limiting warming to 1.5°C. High-integrity approaches for international market cooperation—as envisioned under Article 6 of the Paris Agreement and with the inclusion of tropical forests as a priority—thus merit significant policy attention as means of closing the global emissions gap.

COMPARATIVE STUDY OF NIGERIAN ECONOMY GROWTH AND DEVELOPMENT ON THE IMPACT OF CAPITAL MARKET: A CASE OF SELECTED FEDERAL CAPITAL TERRITORY FCT ABUJA

This paper studies the elements upon which a nation’s economic development is dependent. The importance of the Capital Market as one of the vehicles upon which most underdeveloped economies could grow cannot be overemphasized. The extent to which these economies experience the said growth is quite relative to the level of awareness and management of the market. Nigeria is not left out in the desire to maximize the gains of the capital market to boost its economy. This paper empirically examines the impact of the Nigerian Capital Market on the Nigerian economy looking at a 20-year period from 2002 to 2022. The Nigerian Capital Market was a proxy for Market Capitalization against some variables of the economy such as Gross Domestic Product (GDP), Foreign Direct Investment, Inflation Rates, Total New Issues, Value of Transactions, and Total Listing. Using the multiple regression analysis, we find that Capital Market has an insignificant impact on the Economy within the period under review. The study therefore advised that policies and measures that would boost investors’ confidence should be enshrined in the running of the Nigerian Capital Market so that it could contribute significantly to the growth of the Nigerian economy noting that all elements of the market are essential ingredients to the development of a nation.