Cryptocurrency Market Consolidation in 2020–2021

Time series of price returns for 80 of the most liquid cryptocurrencies listed on Binance are investigated for the presence of detrended cross-correlations. A spectral analysis of the detrended correlation matrix and a topological analysis of the minimal spanning trees calculated based on this matrix are applied for different positions of a moving window. The cryptocurrencies become more strongly cross-correlated among themselves than they used to be before. The average cross-correlations increase with time on a specific time scale in a way that resembles the Epps effect amplification when going from past to present. The minimal spanning trees also change their topology and, for the short time scales, they become more centralized with increasing maximum node degrees, while for the long time scales they become more distributed, but also more correlated at the same time. Apart from the inter-market dependencies, the detrended cross-correlations between the cryptocurrency market and some traditional markets, like the stock markets, commodity markets, and Forex, are also analyzed. The cryptocurrency market shows higher levels of cross-correlations with the other markets during the same turbulent periods, in which it is strongly cross-correlated itself.

Actually Existing Platformization

In this article we examine the partnership as a heterogeneous boundary resource that enables platforms to generate dependencies, become locally embedded, and gain power in urban settings. Pushing back against narratives of platform-driven disruption, which tend to universalize and totalize platform power, we discuss three cases of what we term “actually existing platformization”—a path-dependent and locally situated process in which platform companies engage in various forms of “boundary work” with other actors seeking to retain and/or gain power. Each case focuses on a distinct industry: food delivery, short-term housing rental, and the social/voluntary sector. In each of these domains, we show how asset-light platforms initiate and develop partnerships as a frequently nebulous boundary resource that opens up potential avenues for (1) market consolidation, (2) logistical integration, (3) social mobilization, and/or (4) institutional legitimation. Such strategic moves, we argue, have become particularly pertinent following the COVID-19 pandemic, which has hit urban areas particularly hard and is intensifying certain social dependencies and institutional shortcomings that platforms are seeking to exploit.

Perception and Efficiency Analysis of Agricultural Cooperatives: A Case Study in Hau Giang Province, Vietnam

This research aims to evaluate the perception and productive efficiency of agricultural cooperatives in Hau Giang province Vietnam. The main contribution of this paper is the comparison between two types of cooperatives including fruit cooperatives (jackfruit, lemon) and rice cooperatives representing new and conventional forms, respectively. The primary data in this research was obtained by directly interviewed 50 cooperatives. Descriptive statistics, t-test, financial indicators, Likert scale, and SWOT matrix were employed to analyze the data. Descriptive statistics and comparative methods were first employed to assess the current state of cooperatives through criteria such as capital resources, age of cooperatives, number of members, age, education level of the cooperative head. Likert scale was then employed to identify perceptions and desires in order to enhance cooperative activities through several suggestions combine with SWOT matrix analysis. The analysis of the current situation identifies that the cooperative is increasing in quantity and quality, creating more job opportunities for its members and diversifying services. However, the weaknesses of cooperatives include organizational capacity, infrastructure conditions, unstable output prices and export markets, and poor competitiveness. The comparison results reveal that fruit cooperatives are more effective than rice cooperatives, but the differences are not statistically significant. The SWOT matrix analysis proposes some innovation strategies for agricultural cooperatives, including focusing on diversifying forms of activities and organizing market linkages with businesses, supporting product output; increase operational capital through capital mobilization, infrastructure investment, market consolidation, and technical development, as well as capacity building of cooperatives through training. Keywords: cooperatives, financial efficiency, linkages, Mekong River Delta.

Internationalisation models and trajectories of gold jewellery in Johannesburg: a conjectural discursive approach

The gold jewellery industry is a lucrative sector. It operates within global consumer international networks. The underpinning models of internationalisation of gold jewellery from a theoretical standpoint, are key in comprehending export competitiveness potential. This means that for any company and country to achieve success, they ought to have competitive dominance in the export market, driven by a particular model. This study established that the main trends that characterise gold jewellery exports are underpinned by an aggressive internalisation thrust, which should be supported by market consolidation; market growth; a new channel landscape to push through the products; market consumption trends, absorption capacity, and global fast-fashion demand of gold jewellery. It emerged in this study, that the gold jewellery sector in Johannesburg has many dynamics that affect the ability of gold jewellery exporters to be competitive on the international market. There is a need to implement internationalisation strategies that include the creation of market linkages, standardisation and adaptation of products and services to the changing global market environment. The objective of this study was to investigate the efficacy of the internationalisation models, adopted by jewellery exporters in Johannesburg. The study used both theoretical and empirical data, obtained from the sector. The key finding from the study is that gold jewellery remains one of the most important export commodities in growing economies, such as South Africa. Exports bring the much-needed foreign currency, yet the sector in Johannesburg has very few corporates and individually owned businesses that are connected to the international markets to optimally exploit the opportunities in this sector. Using the mixed review methodology and empirical field data, the study offers propositions to enhance export competitiveness for companies, operating in developing countries.

Description of environmental factors influencing sustainability of motor transport companies of different types

The article outlines the problem of interrelation between the volume of road transport and the economic development. As a result of the interaction of economic, market, regulatory, legal, technological and other factors in the freight road transport market, a competitive environment has developed over three decades, which in its parameters is close to the conditions of pure competition. The current situation leads to a tendency towards market consolidation and an increase in the urgency of the issue of maintaining the stability of road transport companies. Stability as a condition for survival of an enterprise is considered through a combination of three properties: adaptability, stationarity and equilibrium. On the road freight market several types of transport companies can be distinguished, which form the clusters. The method of education, the stage of the life cycle, the scale of activity and the degree of diversification of the enterprise's activities are chosen as the classification features. It has been suggested that the preconditions for maintaining sustainability in enterprises from different clusters differ significantly. A list of important strategic environmental factors has been formed and the characteristics of their influence on the stability of a freight motor transport enterprise are given. The greatest threat is posed by market, economic and regulatory factors. Large, diversified companies have great potential for resilience, as evidenced by the industry statistics. An advantage in ensuring sustainability is also the foreign direct investment in the capital structure of the transport company. Small businesses, which form one of the main clusters on the market, have to form new models of maintaining stability, taking into account the changing conditions of functioning

Consolidation of the Banking Sector: Determinants and Consequences

The article aims at substantiating the theoretical and methodological foundations of research in bank consolidation and assessing its consequences in order to identify the relationship between consolidation and the banking market structure. The main preconditions and priorities of consolidation are systematized and generalized, taking into account the theory of financial integration and synergetic interaction. This approach will contribute to deeper understanding of the motives and trends of consolidation in modern conditions. It is noted that the transnationalization and concentration of capital form the basis for market consolidation, which goes through a certain life cycle, the latter being specified by the authors. It is concluded that the universal, integrated nature of financial business and the formation of financial business ecosystems is becoming more widespread. The main changes in financial mediation are identified. Statistics of banking concentration in Ukraine is given. The dynamics of concentration ratio for the period from January 1, 2000 to August 1, 2020 was analyzed, revealing that the market is moderately concentrated. It is stipulated that the higher the combined share of the five major banks in the banking sector, the less likely a domestic merger and acquisition is. Accordingly, the domestic banking market, compared to European ones, has significant potential. It is concluded that the high values of profitability indicators speak of excess demand over supply in the banking market; thus, competitive intensity under such conditions is minimal, even with the withdrawal of most banks from the market. Thus, competition is only declared. In the future, we should expect increased non-interest rate competition. It is noted that competitive intensity depends on the concentration, dynamics and profitability of the banking market. Competition assessment, carried out using non-structural measures, H-statistics, Boone indicators and Lerner index, showed that, since the an individual bank does not build up its range of activity through consolidation, or by redistributing its market share among participants, but due to the growing demand for banking services, and remote services in particular, competition is actually reduced. The research confirmed that the processes of concentration, consolidation and competition are interconnected, and this connection should be identified to better understand the formation of the banks’ functional strategy and their choice of the business model.

Handelsverbindungen zwischen zentraleuropäischem Binnenmarkt, regionalem Warenaustausch und globalen Güterketten

Trade Links between the Central European Domestic Market, Regional Trade and Global Commodity Chains. The integration of Lower Austria’s economy into global interactions intensified in the 18th and early 19th centuries. Vienna and Trieste replaced old centres of trade intermediation such as Krems an der Donau. The purchase of raw materials and luxury goods and the sale of commercial goods in the Mediterranean and Atlantic region were handled via these two metropolises. In addition to the merchants in Trieste and Vienna, trade centres further afield also played a significant role, and local intermediary nodes in Lower Austria itself were also important. Migration processes, the foundation of companies, and investments resulted in a complex process of market consolidation from the local and regional to the global level. Steam shipping, rail connections and the growth of the financial sector transformed the material structure and functioning of the networks in the second half of the 19th century, but not the commercial geography.

Targeted advertisements and incentive for market consolidation in next-generation TV

The next-generation television (TV) standard will give over-the-air (OTA) broadcasters the ability to target advertisements. This could give a competitive advantage to broadcasters with more channels and hence create incentive for consolidation. Consolidation in the OTA TV industry could concern policy-makers. We construct a model to estimate revenues and costs of targeted advertising and derive profit-maximizing strategies. We find that profit is maximized by sending targeted advertisements via fixed broadband, even on devices that are watched for only a few minutes per week, but until costs drop significantly, not via mobile broadband in most cases. Our results show that targeted advertisements would not create strong incentive for consolidation in the scenarios that we consider most likely, so policy-makers should be sceptical of arguments that consolidation should be allowed on the grounds that consolidation leads to large cost savings. However, we do identify plausible scenarios where broadcasters with more channels would be significantly more profitable.

THE ROLE OF BUSINESS INTELLIGENT SYSTEMS IN MONITORING AND ANALYSIS OF UNIVERSITY DATA

Nowadays, it has become clear that the success of different sized organizations depends on the speed at which they adapt to the dynamic changes and challenges of competitive market structures. At the same time, it is considered that information is a key element for identifying the strengths and weaknesses of the business activities of organizations and the trends for their future development and market consolidation. Modern universities face major challenges related to the processing of large amounts of data, which are continuously generated by different systems and units, but in most cases, the information flow is not analysed effectively enough. Namely the efficient extraction of educational data is an important aspect for the analysis of the state of the university as well as the effective planning of its future development. Therefore, the main purpose of this study is to consider the capabilities of intelligent business analysis information systems to monitor and control the large volumes of data generated at the University of Forestry, Bulgaria. Implementing such a system will help transform data into valuable information and knowledge that will assist academic leadership in taking timely, informed, reasoned managerial decisions and actions, taking into account the dynamic and competitive educational environment and rapidly changing educational needs in higher education.