scholarly journals Market Concentration and its Impact on Liner Shipping in Ghana

2021 ◽  
Vol 6 (4) ◽  
pp. 262-269
Author(s):  
Mary Bossman ◽  
Qu Yaping
Keyword(s):  
Strategic Alliances ◽  
Firm Growth ◽  
Economies Of Scale ◽  
Positive Impact ◽  
Value Added ◽  
Liner Shipping ◽  
Maritime Industry ◽  
High Concentration ◽  
Market Shares ◽  
Cooperative Agreements

Ever since the introduction of ocean liner shipping in the maritime trade industry, there has been a great and positive impact on the maritime industry in terms of trade. Liner shipping lines enjoy degrees of antitrust immunity in various parts of the world. With about 400 liner shipping lines presently and still counting the industry experiences very high concentration in the market. Few of the liner shipping lines occupy a maximum portion of the industry’s market shares whereas the remaining occupy very less or insignificant market shares. In order to survive the oligopolistic nature and concentration of the market, firms seek to cooperative agreements where they are able to share assets and in some cases go as far as merging. Mergers and acquisitions involve the risk of high cost of investment therefore it is not always the option for the relative smaller firms as a means of increasing market shares, but this cannot be said for the larger firms. Consortia, and global strategic alliances do not require such investment. These cooperative agreements rather help member firms to utilize assets and enjoy economies of scale and as a result increase firm growth. Liner shipping lines also as a means of increasing market shares, decrease freight rates and offer value added services to their customers.

Intellectual capital and technical efficiency of banks in an emerging market: a slack-based measure

2020 ◽  
Vol 47 (7) ◽  
pp. 1711-1732 ◽  
Author(s):  
King Carl Tornam Duho
Keyword(s):  
Technical Efficiency ◽  
Intellectual Capital ◽  
Economies Of Scale ◽  
Positive Impact ◽  
Emerging Market ◽  
Value Added ◽  
Content Type ◽  
Sigma Convergence ◽  
The Impact ◽  
Beta Convergence

PurposeThis paper investigates the impact of intellectual capital and its components on slack-based technical efficiency (SBM-TE) of banks.Design/methodology/approachData envelopment analysis is used to compute SBM-TE scores and the Value-Added Intellectual Coefficient (VAIC™) model is used to measure intellectual capital. An unbalanced panel of 32 banks that operated from 2000 to 2017 has been used.FindingsOverall, the efficiency scores are averaged at 79%, suggesting that an inefficient bank needs to enhance technical efficiency by 21% to be at par with the best performing banks. Beta-convergence and sigma-convergence exist among banks with faster speed evident among listed and local banks. Intellectual capital has a positive impact on SBM-TE and human capital is the main driver of technical efficiency among banks. This result is specifically evident among non-listed banks and foreign banks. Economies of scale property are also evident among the banks. Competition and asset tangibility inhibit technical efficiency among banks.Practical implicationsBanks are advised to invest in value-adding emerging technologies and their employees so as to enhance their efficiency. The study offers insights for policymakers, practitioners and researchers in emerging markets.Originality/valueThe study is premier in employing the SBM-TE to explain the intellectual capital and efficiency nexus, as well as, testing for both beta-convergence and sigma-convergence.

scholarly journals Pengaruh Larangan Ekspor Bahan Baku terhadap Kinerja Perusahaan Rotan Indonesia

2013 ◽  
Vol 14 (1) ◽  
pp. 43-62
Author(s):  
Ashintya Damayati ◽  
Nachrowi Djalal Nachrowi
Keyword(s):  
Large Scale ◽  
Firm Growth ◽  
Positive Impact ◽  
Value Added ◽  
Firm Survival ◽  
Least Square ◽  
Raw Material ◽  
Good Industry ◽  
Ordinary Least Square ◽  
Export Restriction

AbstractThis research analyzes the impacts of raw material export restriction on firm performance: value-added, labor, and productivity growth, as well as firm survival ability in the rattan-based final good industry in the 1995-2004 period, which are distinguished based on firm size. This study uses probit method for the survival model, and the Ordinary Least Square (OLS) for the growth model. Data obtained from Medium and Large Scale Industries Statistics (ISIC 33131 and 33212). The result shows that export restriction can improve survival ability of the medium and large-sized firm, and have a positive impact on value-added and labor growth of the medium-sized firm.Keywords: Export Restriction on Rattan Raw Material, Firm Growth, Firm Survival, Rattan-Based Final Goods Industry AbstrakStudi ini membahas pengaruh dari kebijakan larangan ekspor bahan baku terhadap kinerja perusahaan: pertumbuhan nilai tambah, tenaga kerja, dan produktivitas, serta kemampuan bertahan perusahaan barang jadi rotan di dalam industri pada periode 1995-2004, yang dibedakan berdasarkan ukuran perusahaan. Studi ini menggunakan metode probit untuk model kemampuan bertahan perusahaan dan Ordinary Least Square (OLS) untuk model pertumbuhan. Data diperoleh dari Statistik Industri Besar dan Sedang (ISIC 33131 dan 33212). Hasil studi menunjukkan bahwa kebijakan larangan ekspor bahan baku rotanmampu meningkatkan kemampuan bertahan perusahaan sedang maupun perusahaan besar, serta juga akan berdampak positif terhadap pertumbuhan tenaga kerja dan nilai tambah perusahaan sedang.Kata kunci: Industri Barang Jadi Rotan, Kemampuan Bertahan Perusahaan, Larangan Ekspor Bahan Baku Rotan, Pertumbuhan Perusahaan

scholarly journals Evaluation of R&D activities in the maritime industry: Managing sustainability transitions through business model

2021 ◽  
Vol 19 (3) ◽  
pp. 230-246
Author(s):  
Viktoriia Koilo
Keyword(s):  
Value Creation ◽  
Business Models ◽  
Negative Impact ◽  
Positive Impact ◽  
New Technology ◽  
Public Support ◽  
Value Added ◽  
Maritime Industry ◽  
New Business ◽  
Sustainable Transition

The maritime industry is always at the forefront of knowledge and new technology. In recent years, the companies have used large resources in research and development (R&D) towards environmentally friendly technology. At the same time, there exist many issues around this: are those companies enough good at the utilizing of R&D fonds, i.e., do they put new technology together with solutions that are best adapted to the customer requirements (export-oriented), on the one hand, and are they efficient and sustainable, on another hand? Hence, the current paper aims to study how the R&D costs contribute to value creation and sustainable transition in the maritime industry. To achieve this goal, R&D activities in the maritime industry were analyzed using correlation and linear regression analyses between 2010 and 2019. The results show that those indicators that have the greatest positive impact on value-added are R&D expenditures in the business enterprise sector and turnover from product innovations. Also, it was revealed that there is a negative impact of trade indicators on value creation. In addition, the study proves that R&D activities are contributing to the sustainable transition of the maritime industry. Overall, it was concluded that without sufficient public support, strategy, and new business models, export-oriented industries benefit less from innovation. Acknowledgment The study is supported by a grant from the Research Based Innovation “SFI Marine Operation in Virtual Environment (SFI-MOVE)” (Project no: 237929) in Norway.

AN ANALYSIS OF THE EU’S INVESTMENT POLICY AFTER CETA: EFFECTS ON THE BULGARIAN ECONOMY

2020 ◽  
Author(s):  
Nikolay Marin ◽  
◽  
Mariya Paskaleva ◽  
Keyword(s):  
Bilateral Trade ◽  
Positive Impact ◽  
Value Added ◽  
Trade Agreement ◽  
Trade Agreements ◽  
Investment Policy ◽  
National Parliaments ◽  
Total Employment ◽  
Investment Protection ◽  
New Generation

In this paper we analyze the changes of the EU’s investment policy provoked by the mixed trade agreements. The EU’s investment policy has turned towards attaining bilateral trade agreements. One of these “new-generation” agreements is the Comprehensive Economic and Trade Agreement (CETA). It is in a process of being ratified by the national parliaments of the EU members. This study is focused on the general characteristics of CETA and the eventual problems posed by its regulatory and wide-ranging nature. We prove that the significance of this agreement pertains not only to the economic influence, that it will have on the European and Canadian economies, but CETA is also the first trade agreement to have been negotiated with a focus on investment protection and a change in the EU’s investment policy. The current study reveals the influence arising from the conclusion of CETA on the Bulgarian economy with an emphasis on electronic industry, machinery industry and manufacturing. We estimate both – the direct and indirect effects on Bulgaria’s exports, imports, value added and employment. In order to estimate the influence, we apply the multi-regional input-output model. It is proved that CETA will have a low but positive impact on the Bulgarian economy. After constructing different scenarios of development, we prove that the influence of CETA on the Bulgarian economy will amount to 0.010% GDP. The average total employment will be increased by more than 172 jobs in Bulgaria, which in turn, relative to the labor market, represents less than 0.01% of the total employment.

scholarly journals Extraction of sugarcane bagasse arabinoxylan, integrated with enzymatic production of xylo-oligosaccharides and separation of cellulose

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
Leila Khaleghipour ◽  
Javier A. Linares-Pastén ◽  
Hamid Rashedi ◽  
Seyed Omid Ranaei Siadat ◽  
Andrius Jasilionis ◽  
...  
Keyword(s):  
Sugarcane Bagasse ◽  
Sugar Content ◽  
Value Added ◽  
Apparent Molecular Weight ◽  
Bacillus Halodurans ◽  
Glycoside Hydrolase Family ◽  
High Concentration ◽  
Enzymatic Production ◽  
Successful Separation ◽  
Ft Ir

AbstractSugarcane processing roughly generates 54 million tonnes sugarcane bagasse (SCB)/year, making SCB an important material for upgrading to value-added molecules. In this study, an integrated scheme was developed for separating xylan, lignin and cellulose, followed by production of xylo-oligosaccharides (XOS) from SCB. Xylan extraction conditions were screened in: (1) single extractions in NaOH (0.25, 0.5, or 1 M), 121 °C (1 bar), 30 and 60 min; (2) 3 × repeated extraction cycles in NaOH (1 or 2 M), 121 °C (1 bar), 30 and 60 min or (3) pressurized liquid extractions (PLE), 100 bar, at low alkalinity (0–0.1 M NaOH) in the time and temperature range 10–30 min and 50–150 °C. Higher concentration of alkali (2 M NaOH) increased the xylan yield and resulted in higher apparent molecular weight of the xylan polymer (212 kDa using 1 and 2 M NaOH, vs 47 kDa using 0.5 M NaOH), but decreased the substituent sugar content. Repeated extraction at 2 M NaOH, 121 °C, 60 min solubilized both xylan (85.6% of the SCB xylan), and lignin (84.1% of the lignin), and left cellulose of high purity (95.8%) in the residuals. Solubilized xylan was separated from lignin by precipitation, and a polymer with β-1,4-linked xylose backbone substituted by arabinose and glucuronic acids was confirmed by FT-IR and monosaccharide analysis. XOS yield in subsequent hydrolysis by endo-xylanases (from glycoside hydrolase family 10 or 11) was dependent on extraction conditions, and was highest using xylan extracted by 0.5 M NaOH, (42.3%, using Xyn10A from Bacillus halodurans), with xylobiose and xylotriose as main products. The present study shows successful separation of SCB xylan, lignin, and cellulose. High concentration of alkali, resulted in xylan with lower degree of substitution (especially reduced arabinosylation), while high pressure (using PLE), released more lignin than xylan. Enzymatic hydrolysis was more efficient using xylan extracted at lower alkaline strength and less efficient using xylan obtained by PLE and 2 M NaOH, which may be a consequence of polymer aggregation, via remaining lignin interactions.

scholarly journals The Intra-EU Value Chain: An Approach to Its Economic Dimension and Environmental Impact

Economies ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 54
Author(s):  
Óscar Rodil-Marzábal ◽  
Hugo Campos-Romero
Keyword(s):  
Environmental Impact ◽  
Co2 Emissions ◽  
Value Chain ◽  
Positive Impact ◽  
Value Added ◽  
Kuznets Curve ◽  
Output Analysis ◽  
Economic Dimension ◽  
Development Levels ◽  
European Economies

This paper aims to analyze the economic dimension and environmental impact of intra-EU value-added generation linked to global value chains (GVCs) through input-output analysis. For this purpose, information has been collected from TiVA (Trade in Value Added, OECD) and Eora databases for the years 2005 and 2015. From an economic perspective, the results point to a strengthening of the value-added generated within Factory Europe. From an environmental perspective, all EU28 members have reduced their exports-related impacts in intensity-emissions terms, but not all of them in the same degree. An approach to the environmental Kuznets curve (EKC) has also been carried out through a panel data model. The results show a positive impact of the participation in intra-EU value chain (Factory Europe) on CO2 emissions per capita. Further, an inverted U-shaped curve for CO2 emissions is found for the period 2005–15. In this sense, European economies with lower development levels (many Eastern and Southern countries) seem to be still on the rising segment of the curve, while the more developed ones seem to be on the decreasing segment. These results highlight the need to design global monitoring and prevention mechanisms to tackle growing environmental challenges and the need to incorporate specific actions associated with the GVCs activity.

Estimating the Borrowing Behavior of French and German Firms. An Econometric Analysis / Verschuldungsverhalten französischer und deutscher Unternehmen. Eine ökonometrische Analyse

2001 ◽  
Vol 221 (5-6) ◽  
Author(s):  
Elizabeth Kremp ◽  
Elmar Stöß
Keyword(s):  
Firm Growth ◽  
Negative Impact ◽  
Positive Impact ◽  
Size Class ◽  
Monetary Transmission ◽  
Data Sets ◽  
Pecking Order ◽  
Trends Over Time ◽  
Deutsche Bundesbank ◽  
The Cost

SummaryThis paper investigates the borrowing behavior of 2,900 French and 1,300 German firms over the 1987-95 period. Both samples based on data sets of the Banque de France and the Deutsche Bundesbank not only include large but also small and medium-sized enterprises. Applying GMM techniques, we estimate identical debt equations for the two total samples and by size class. Despite the large differences between the two countries in term of debt trends over time and size class the main result is the similarity of a few determinants between France and Germany. E.g. we find that firm growth has a positive impact on borrowing according to the theory of signalling whereas the negative correlation of profit and debt supports pecking order approach and the cost of finance has a negative impact on leverage, too. Additionally, the study can provide some insights for the monetary transmission mechanism in both EMU member countries.

Intellectual Capital Investment, Stakeholders' Value, Firm Market Value and Financial Performance: The Case of Tunisia Stock Exchange

2013 ◽  
Vol 12 (02) ◽  
pp. 1350010 ◽  
Author(s):  
Hedia Fourati ◽  
Habib Affes
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Capital Investment ◽  
Positive Impact ◽  
Stock Exchange ◽  
Value Added ◽  
Market Value ◽  
Market Valuation ◽  
Using Data

The purpose of this paper is to investigate the role of intellectual capital investment in improving the firm's market value, stakeholders' value and financial performance. Using data drawn from 21 listed companies in Tunisia Stock Exchange, we conducted two studies. On one hand, from using Charreaux (Charreaux (2006). La valeur partenariale: Vers une mesure opérationnelle. Cahier de FARGO no. 1061103, November) measure of stakeholders' value, we demonstrate that financials come to present the weakest stakeholders' value and clients monopolises in term of value acquisition due to a weak ability of negotiation of firms. On the other hand, we construct a regression model of Pulic's value added intellectual capital investment (VAIC) as the measure of the value added from intellectual capital, in market valuation and financial performance. Our results stressed the fact that there is a positive impact of intellectual capital by human capital efficiency and capital employed efficiency on improving firm's market value. Nevertheless, financial performance measured by ROA is still justified by the traditional measure relying on capital employed efficiency. Indeed for Tunisian quoted firms, human capital investment is a pilar for ameliorating firm market valuation of financial performance.

scholarly journals Exchange-traded products in Germany: development and substitution of exchange-traded funds, exchange-traded commodities and exchange-traded notes

Equilibrium ◽  
2018 ◽  
Vol 13 (4) ◽  
pp. 643-665
Author(s):  
Adam Marszk
Keyword(s):  
Value Added ◽  
Stock Exchanges ◽  
Exchange Traded Funds ◽  
Investment Funds ◽  
Market Shares ◽  
Time Period ◽  
Fast Development ◽  
Exchange Traded Notes ◽  
Insight Into ◽  
Total Market

Research background: Exchange-traded products (ETPs) are one of the most rapidly growing categories of financial products. Their fast development has been boosted by innovative features. Three main categories of ETPs are exchange-traded funds (ETFs), exchange-traded commodities (ETCs) and exchange-traded notes (ETNs). ETCs and ETNs remain least known, even though their number on some stock exchanges is high. In Europe, Germany is one of the largest and most active ETPs markets. ETCs and ETNs are debt instruments, in contrast with the most popular ETFs, which are equity securities. Therefore, they offer investors different advantages, but also expose them to other types of risks. Purpose of the article: The key aim of the article is to present the features of ETPs and to provide in-depth insight into the issues linked with the development of ETPs market in Germany, with the special emphasis on the ETCs and ETNs. Methods: In the main empirical part of the article, German ETPs market is analyzed using descriptive statistics and technological substitution framework (employed for the analysis of innovations in order to evaluate the changing market shares of, first, ETFs versus ETCs and ETNs, as well as, second, ETFs versus other types of investment funds). The period of the analysis is 2010–2016 in the former case and 2007–2016 in the latter. Findings & Value added: Share of ETPs other than ETFs in the total market in Germany remains low. Even though the market position of the leading products, i.e. ETFs, is still very strong, some substitution has been observed, especially after 2015. Predictions indicate that this trend will continue in the upcoming years. The results of the analysis of the investment funds’ market confirm the substitution between ETFs and traditional investment funds over 2007–2017, in particular in the first years of this time period.

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