The effect of short-sale restrictions: another perspective

2016 ◽  
Vol 12 (5) ◽  
pp. 700-714
Author(s):  
Van Le
Keyword(s):  
Design Methodology ◽  
Informed Trading ◽  
Panel Regression ◽  
Information Share ◽  
Option Markets ◽  
Policy Makers ◽  
Content Type ◽  
Short Sale ◽  
Regulatory Changes ◽  
Trading Activities

Purpose The purpose of this paper is to examine the effect of short-sale restrictions (SSR) with particular emphasis on their impact on the liquidity and informed trading in the stock and option markets. Design/methodology/approach Using a panel regression with controls for volatility, VIX and matched stocks, this study examines the effect of the short-sale ban (SSB) on stock and option liquidity, expressed in terms of spread and volume. In addition, the PIN and option information share (OIS) measures have been used to analyze its impact on informed trading in those related markets. Findings The results suggest that the SSB leads to a significant reduction in the liquidity of the affected stocks and their options. However, no significant change in the trader composition can be detected. This result is consistent to the short-prohibition effect predicted by Diamond and Verrecchia (1987). Research limitations/implications Due to the sizeable data required to estimate the PIN and OIS measures, only a select sample of optionable stocks has been examined. Originality/value This study offers both academics and policy makers some useful insights into the effect of SSR on trading activities in both stock and option markets. From a policy perspective, it clearly demonstrates that regulatory changes targeting a specific market also affect other related markets via the arbitrage link between them.

scholarly journals The role of uniqueness in destination branding: the case of historical Portsmouth harbor

2015 ◽  
Vol 10 (2) ◽  
pp. 198-213 ◽  
Author(s):  
Alexandros Apostolakis ◽  
Shabbar Jaffry ◽  
Faye Sizeland ◽  
Adam Cox
Keyword(s):  
Competitive Advantage ◽  
Design Methodology ◽  
Regional Level ◽  
Destination Branding ◽  
Policy Makers ◽  
Content Type ◽  
City Brand ◽  
High Profile ◽  
Local Resources

Purpose – The purpose of this paper is to examine the potential for utilizing a unique resource, such as the Historic Portsmouth Harbor, in order to differentiate the local brand. Design/methodology/approach – The objective of the paper is to examine the role of unique local resources and attractions as a source of competitive advantage through destination branding. Findings – The main findings of the paper indicate that policy makers and destination managers should more proactively utilize the unique elements of the Historic Portsmouth Harbor “brand,” as opposed to the commonplace “waterfront city” brand. This could be achieved by staging events of international significance or through a bid for gaining world heritage status. In addition to that, the paper argues that in order for this branding initiative to have a higher impact, a prominent high profile individual should be appointed. This individual could act as a leader or “brand ambassador” in order to attract stakeholder interest and participation. Originality/value – The paper could be of value to destination managers and marketing organizations in a local, sub-regional and regional level.

Content analyses of alcohol-related images during television broadcasts of major sports events in New Zealand

2017 ◽  
Vol 18 (3) ◽  
pp. 230-245 ◽  
Author(s):  
Sarah Gee ◽  
Michael P. Sam ◽  
Steve J. Jackson
Keyword(s):  
Alcohol Consumption ◽  
Design Methodology ◽  
Alcohol Advertising ◽  
Policy Makers ◽  
Content Type ◽  
Television Programming ◽  
Sports Events ◽  
Content Analyses ◽  
Daytime Television ◽  
Nature Frequency

Purpose The purpose of this paper is to examine the nature, frequency, and duration of alcohol-related promotions and crowd alcohol consumption during major sports events broadcasted on the SKY Sport network between September 2011 and February 2012. Design/methodology/approach Content analyses for various categories of alcohol-related images were conducted, including a novel inclusion of analysing crowd alcohol consumption. Findings The results provide empirical evidence that sponsorship and activation-related activities of alcohol brands subvert national regulations that ban alcohol advertising during daytime television programming. Originality/value The results serve to sensitise researchers, practitioners, policy makers, and regulators to the prevalence of incidental alcohol promotional material within the overall televised alcohol advertising mix and the broader societal exposure to such images. This research also informs readers that alcohol companies and media outlets produce alcohol-related marketing that may not be in-line with the meaning and/or intent of laws.

Overcoming trade logistics challenges: Asia-Pacific experiences

2015 ◽  
Vol 27 (3) ◽  
pp. 444-466 ◽  
Author(s):  
Ben Shepherd ◽  
Shintaro Hamanaka
Keyword(s):  
Design Methodology ◽  
Good Practice ◽  
Asia Pacific ◽  
Case Method ◽  
Policy Reforms ◽  
Case Study Method ◽  
Asia Pacific Region ◽  
Policy Makers ◽  
Content Type

Purpose – The purpose of this paper is to identify major challenges that Asia-Pacific policy makers face in drawing up international logistics policies, and to seek possible solutions to the problems. Design/methodology/approach – Case study method: the paper includes seven case studies that attempt to address various types of logistics challenges. The paper introduces both intra- and extra-regional examples of the ways in which those challenges have been overcome in particular contexts through concerted action by government and the private sector. Findings – There are a lot of interesting experiences of overcoming logistics challenges, both inside and outside the Asia-Pacific region. Good practice experiences can be replicated by other countries in the region. Originality/value – While there have been a lot of discussions on logistics policy reforms, this paper is one of the first attempts that clearly link challenges with concrete case experiences where those are overcome. The paper discusses very practical issues in an analytically sound manner, using case method.

South Pacific transnational money laundering typologies

2017 ◽  
Vol 20 (4) ◽  
pp. 345-353 ◽  
Author(s):  
John Chelliah ◽  
Anita Prasad
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Academic Research ◽  
South Pacific ◽  
Pacific Island ◽  
Policy Makers ◽  
Content Type ◽  
Extant Literature ◽  
South Pacific Island ◽  
Pacific Island Nations

Purpose The paper aims to present typologies of transnational money laundering in South Pacific island countries, thereby filling a gap in the extant literature. Design/methodology/approach This paper is based on seven significant transnational money laundering cases involving South Pacific island nations. It provides analyses of the modus operandi of criminals and classifies those according to typologies from anti-money laundering authorities and bodies. Findings Typologies of money laundering have arrived through a content analysis of seven cases involving transnational money laundering destined for South Pacific island nations. The typologies which have emerged show the predominant forms of transnational money laundering in this region. This knowledge could be useful to government policy-makers and financial institutions pursuing anti-money laundering initiatives. Originality/value There is a dearth of academic research into typologies of transnational money laundering involving the South Pacific. This paper makes a useful contribution to the extant literature by providing the most recent typologies in this respect.

Lessons from Thailand: universal healthcare achievements and challenges

2018 ◽  
Vol 45 (2) ◽  
pp. 387-401
Author(s):  
Ravikan Nonkhuntod ◽  
Suchuan Yu
Keyword(s):  
Healthcare System ◽  
Healthcare Utilization ◽  
Design Methodology ◽  
Meta Analysis ◽  
Selection Criterion ◽  
Policy Makers ◽  
Content Type ◽  
Universal Healthcare ◽  
Positive Effect ◽  
Small Positive Effect

Purpose The purpose of this paper is to discuss the successes of Thailand’s healthcare system along with challenges it is facing, examining documents and policies used by those charged with developing and implementing health services. Design/methodology/approach The search pool comprised PubMed and Google Scholar from the period 2001-2015. Selection criterion for inclusion was sources dealing with out-of-pocket (OOP) expenditure and healthcare utilization in Thailand. In total, 33 studies met the criterion of containing sufficient data to be included in the meta-analysis. Findings The authors found a small positive effect size on OOP expenditure and healthcare utilization, obtaining values of 0.1604 (95% CI 0.1320-0.1888, p<0.0001) and 0.2788 (95% CI 0.0917-0.4659, p=0.0035), respectively. Originality/value To review and meta-analyze the literature dealing with the outcomes of Thailand’s healthcare system to understand whether Thailand’s healthcare system is achieving its mandate or not. The results of this paper can help policy makers to understand and evaluate Thailand’s healthcare system.

NGOs management: a roadmap to effective practices

2018 ◽  
Vol 9 (4) ◽  
pp. 372-387 ◽  
Author(s):  
Mohammed Aboramadan
Keyword(s):  
Conceptual Framework ◽  
Design Methodology ◽  
Private Companies ◽  
Policy Makers ◽  
Business World ◽  
Content Type ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
One Year ◽  
Management Functions

Purpose From one year to another, more researchers join in the ever-growing field of interest of non-governmental organizations (NGOs). Nevertheless, the literature on NGOs management is not as rich as what has been developed for private companies and bodies in the business world. The purpose of this paper is to propose a framework for managing NGOs effectively. Design/methodology/approach Reviewing the literature on NGOs management from different areas, the paper proposes a conceptual framework. Findings The paper provides a conceptual framework on how different management functions are involved in a mutual framework for managing NGOs. Research limitations/implications The author needs to empirically test the suggested framework using qualitative and qualitative techniques. Originality/value The author’s perspective on NGOs management is a subject of great interest for different NGOs stakeholders including: donors, communities, volunteers, managers and policy-makers.

Economic evaluation of a prospective Farm Animal Welfare program in Turkey

2019 ◽  
Vol 122 (1) ◽  
pp. 345-362
Author(s):  
Özlem Turan ◽  
Serkan Gurluk ◽  
Abdulhakim Madiyoh
Keyword(s):  
Animal Welfare ◽  
Design Methodology ◽  
Stated Preference ◽  
Farm Animal ◽  
Farm Animal Welfare ◽  
Policy Makers ◽  
Payment Card ◽  
Content Type ◽  
Base Level ◽  
Stated Preference Data

Purpose The purpose of this paper is to examine producer preferences for changing Farm Animal Welfare (FAW) levels in regards to sheep and goat husbandry in Bursa-Turkey. Design/methodology/approach The paper tests “panel estimators” in a stated preference data by using the payment card question format. Probit panels are employed to measure individual effects on FAW levels by considering producers’ willingness to accept. Three different FAW levels were identified for valuation as “base” level, “better” level, and the “best” level. The current study suggests a protocol with WTA(P) nomenclature to resolve complexity issues in FAW studies by investigating producers rather than consumers because the scenarios regarding FAW levels include quite technical and difficult topics which are vague to consumers. Findings If half of the total number of the sheep and goats in Turkey are assumed to be in bad animal welfare conditions, which are worse than base level, the non-use benefits of bringing them to at least the base level would be about US$130.3m. Figures would be 166.2m US$/year and 175m US$/year for “better” and “best” FAW conditions, respectively. Originality/value This paper provides a contribution to the existing literature by examining the producers’ responses to new FAW schemes. Also it helps policy makers to understand producers’ environmental behavior as well as their sensitivity to FAW schemes.

Measuring European cultural and creative cities efficiency: a metafrontier DEA approach

2020 ◽  
Vol 47 (4) ◽  
pp. 891-909 ◽  
Author(s):  
Justo De Jorge-Moreno ◽  
Virignia De Jorge-Huertas
Keyword(s):  
Best Practices ◽  
Design Methodology ◽  
Composite Index ◽  
Data Envelopment ◽  
Policy Makers ◽  
Content Type ◽  
Benchmark Analysis ◽  
Creative Cities ◽  
European Cities ◽  
Analysis Methodology

PurposeThe purpose of this paper is to conduct a benchmark analysis of European cities based on the estimation of a composite index of efficiency from the dimensions of the Cultural and Creative Cities Monitor 2017 (CCCM). The study helps to initiate a new exploration path based on this information, using a segmentation criterion of countries according to their economic and demographic characteristics, in search of greater comparative homogeneity.Design/methodology/approachIn this paper, the metafrontier methodological proposal with data envelopment analysis (DEA) has been used to compare the groups of cities individually with their joint reference.FindingsThe results obtained indicate, from a greater control of heterogeneity, through the segmentation of the sample of cities and the metafrontier methodology, that the composite index (IEC3) through the enveloping data analysis methodology (DEA) is more robust than that obtained with the arbitrary assignment of CCCM weights. The analyses carried out make it possible to study and conduct more real and rigorous comparisons of the cities that experience the best practices, unlike other more distant ones. Reference to cities such as Paris, Louvain and Cork could serve as a basis for possible improvements.Originality/valueIt is important to bear in mind that the possible urban policies of a city and the creative strategies and their derived impact are different, because of the diversity in each city. These new comparability possibilities could serve as a tool for economic policy makers, companies and local managers to carry out learning and simulation processes in the improvement of creative cities.

An exploratory study on how SMEs are open to external sources of information

2019 ◽  
Vol 22 (5) ◽  
pp. 765-789 ◽  
Author(s):  
Moulay Othman Idrissi Fakhreddine ◽  
Yan Castonguay
Keyword(s):  
Design Methodology ◽  
Probit Model ◽  
Significant Heterogeneity ◽  
Sources Of Information ◽  
Policy Makers ◽  
Content Type ◽  
Recent Developments ◽  
External Sources ◽  
Canada Data ◽  
Practical Implications

Purpose The purpose of this paper is to draw on recent developments in the open innovation literature to explore whether the openness of SMEs to the four categories of external sources of information (ESI) is complementary, substitute or independent, while assessing the determinants of SMEs’ openness to these ESI. Design/methodology/approach This research is based on data from a survey of 451 manufacturing SMEs in the province of Québec, Canada. Data have been elaborated through a multivariate probit model to empirically show that SMEs are considered to be simultaneously open to different ESI. The results of this study show significant heterogeneity in the determinants of SMEs’ openness to these ESI. Findings The study found that the SMEs’ openness to different ESI seems to be complementary rather than substitute; and not all variables included in the model explain the SMEs’ openness to the different ESI. Practical implications The paper provides practical implications for managers and policy makers including the SMEs’ managers’ role to recognize the consolidation of different ESI jointly instead of separately. Furthermore, managers and policy makers should attempt to provide a fair context to SMEs to manage their openness ecosystem. Originality/value This study is virtually the first to investigate both the complementarity and the determinants of SMEs’ openness to different ESI using a sophisticated econometric model.

The cannabis festival: quality, satisfaction, and intention to return

2019 ◽  
Vol 10 (3) ◽  
pp. 267-283
Author(s):  
Soo Kang ◽  
Jeffrey Miller ◽  
Jaeseok Lee
Keyword(s):  
Design Methodology ◽  
Online Survey ◽  
Two Dimensions ◽  
Research Gaps ◽  
Policy Makers ◽  
Content Type ◽  
Intent To Return ◽  
The Usa ◽  
Intention To Return ◽  
Industry Professionals

Purpose The purpose of this paper is to understand how festival quality, satisfaction and intention to return among cannabis festival attendees were interrelated by using the 2018 Mile High 420 Cannabis Festival in Denver, Colorado, USA. Design/methodology/approach This study employed an online survey with festival attendees to the 2018 Mile High 420 Festival. A total of 664 attendees participated in the survey. Findings Findings of the study revealed the demographic profile of cannabis festival attendees (i.e. relatively young, single and evenly distributed in terms of gender and residency) and its relationships with respondents’ perceived festival qualities. In addition, two dimensions of festival quality unique to the context of marijuana festival influenced attendees’ satisfaction and intent to return significantly. Festival attendees’ travel characteristics were used to describe attendees’ satisfaction and intent to return to a different degree. This research has also highlighted a lack of research in the area of cannabis events/festivals. Originality/value This study is the first investigation that studied a cannabis-themed festival in the tourism literature. As legalization of recreational cannabis has been embraced in the USA and abroad (i.e. Canada), the findings of this empirical study will help the industry professionals and policy makers to understand this unprecedented SIT market and can be used as the benchmarks for their legal and operational practicality. Further, this study highlights research gaps in the tourism literature, and identifies those areas where future study is unlikely to provide new knowledge.

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