The Effect of the COVID-19 Pandemic on International Stock Exchanges

It is possible to define the concept of risk in various ways. Risk is the deviation possibility of the realized value from the expected value. It has two components, nonsystematic risk and systematic risk. Despite this, pandemics are risk factors that cannot be anticipated. They have deeply affected economies and financial markets under every condition. The importance of the detection of the COVID-19 pandemic comes from the selection of monetary and fiscal policies to be applied by governments during the rehabilitation process of economies. Equity share markets provide important information regarding the future of a company or economy. The reason for this is that the current value of an equity share is dependent on the deducted calculation of the cash flows of the equity share to be provided in the future. The actual price of the equity share is determined according to supply and demand under market conditions.

Optimizing the effect of charging electric vehicles on distribution transformer using demand side management

This paper mainly aims to present the demand side management (DSM) of electric vehicles (EVs) by considering distribution transformer capacity at a residential area. The objective functions are formulated to obtain charging schedule for individual owner by i) minimizing the load variance and ii) price indicated charging mechanism. Both the objective functions profit the owner in the following ways: i) fulfilling their needs, ii) minimizing overall charging cost, iii) lessening the peak load, and iv) avoiding the overloading of distribution transformer. The proposed objective functions were worked on a residential area with 8 houses each house with an EV connected to a 20 kVA distribution transformer. The formulations were tested in LINGO platform optimization modeling software for linear, nonlinear, and integer programming. The results obtained were compared which gives good insight of EV load scheduling without actual price prediction.

The Effects of Price Rank on Clicks and Conversions in Product List Advertising on Online Retail Platforms

In light of the critical role of price information in consumers’ decision making, this study investigates the effect of price rank on consumers’ responses to product list advertising (PLA). The research documents that the price rank is more influential than actual price for PLA. In addition, the research highlights a tradeoff in price-rank decisions: A price rank that drives more clicks does not necessarily lead to more conversions; to drive traffic, managers should strive for an extreme (i.e., either high or low) to elicit more clicks, then follow up with online engagement tools (e.g., cross-selling and product recommendations). To maximize direct revenue, managers instead should strive for moderate ranks to satisfy consumers’ desire for a compromise between price and quality. However, consumers without uncertainty tend to rely less on price rank, so the effects diminish among specific keywords and increase among popular keywords. In order to achieve the desired price ranks, firms participating in PLA might monitor and adjust their advertising offers. There are commonly two specific avenues: Change the product price if the required change is within a certain range or change the advertised product if the required price change is beyond a certain range.

SUITABILITY OF ICTAD FORMULA AND CIDA PRICE INDICES TO CALCULATE THE AMOUNT OF PRICE ESCALATED IN CONSTRUCTION PROJECTS

Price fluctuation is a significant risk factor, in every construction project market. It is unavoidable and difficult to forecast. However, it is often argued that there is a difference between the amount calculated with the CIDA price fluctuation formula method and the actual price fluctuation. Therefore, the aim of this research is to investigate the industry opinion on whether there is a difference between price escalations calculated using the CIDA price fluctuation formula and actual price fluctuation. A qualitative research approach was selected to achieve the aim of this research. Through a broad study of literature, it was identified the most critical factors which affected actual price fluctuation deviation. Meanwhile, semi-structured interviews were carried out to identify the reasons affecting fluctuation difference by analysing the data, which was used, and comparing the opinions given by the interviewees. The data was analysed using context analysis. The results of the research confirm that. there is a difference between the amount of price escalation using the ICTAD price fluctuation formula and the actual being used. The main reason behind this difference is the less accuracy of cost indices. To improve the accuracy of the results of this formula, appropriate data collection using an appreciate sample of contractors in producing price indices is recommended as the main.

CO2 emission allowances and their interacion with economic and energy factors in the European Union

Analysis of emission allowances prices has important environmental and political connotations. This article aimed to identifying the possible variables that may influence their behaviour and studied their relationship with fundamental factors: energy (Brent petroleum, Gas, Coal) and economy (Industrial Production Index, Baltic Dry Index, Purchasing Managers Index). With the objective of analyzing possible mutual interactions, Multivariate VAR or Error Correction Models (VECM), were applied. The information analysed derived from different sources (World Bank, Sendeco2 and various financial websites). The results obtained showed, not only the influence of past prices on the emission allowances actual price, but also the interaction with energetic and economic variables. Highlights Estimation of time series interrelations through VAR models. There is relationship of the emission allowances price with their past values. The energy variables are factors important to also explain the behavior of the emission allowances price. The economic variables are hardly significant except for the Dry Baltic Index.

Joint procurement of complex products: actual price savings, perceived nonmonetary advantages, disadvantages and impediments

Purpose Little is known about actual price savings generated by cooperative purchasing and nonmonetary advantages, disadvantages and impediments for the cooperative purchasing of complex or high-risk purchases. This paper aims to explore these topics by studying joint purchasing of pacemakers in The Netherlands. Design/methodology/approach To evaluate the magnitude of price savings, data on individual and collective prices for 18 hospitals was analyzed. In addition, 16 interviews were carried out with representatives of hospitals that participated and did not participate in the joint purchase. Findings Based on quantitative and qualitative data, the authors found large differences in price savings which can be attributed to scale, but mostly to knowledge of the group and renewing a contract in a technology-driven and developing market. Limited product choice – because of an organization joining a cooperative – constrained the attractiveness of cooperative purchasing, as end users may have specific product preferences. The consideration of preferences of end users is important toward successful joint purchasing of complex items. Social implications The authors argue that price savings because of scale are about 7% for smaller organizations and 4% for larger organizations. For smaller organizations with low specific knowledge and capacity for buying complex products, economies of process and knowledge are more important reasons for joining a purchasing group than scale. For large organizations with high specific knowledge and capacity, scale is the most important reason. Originality/value This study combined qualitative and quantitative perspectives, using actual spend data, to investigate cooperative purchasing of high-risk or complex purchases. On the one hand, more insight into the magnitude and reasons for price savings is provided than in earlier literature. On the other hand, more insight is given in qualitative reasons for joining a group and challenges for cooperative purchasing of complex items.

PERLINDUNGAN HUKUM TERHADAP KONSUMEN YANG MENGALAMI KERUGIAN AKIBAT PENGIRIMAN BARANG OLEH PERUSAHAAN EKSPEDISI LAUT MENURUT UNDANG-UNDANG NOMOR 8 TAHUN 1999 TENTANG PERLINDUNGAN KONSUMEN

The responsibility of the shipping company in reimbursing losses suffered by consumers in the delivery of goods resulting from damage to goods or loss of goods then looking for evidence that damage and loss of goods occur due to transportation of goods to the detriment of the consumer in accordance with Article 188 of Law No. 22 of 2009 concerning Road Traffic and Transportation and Article 1 number 1 of Law No.8 of 1999 concerning Consumer Protection. From the results of the study it can be concluded that first, if the goods transported are lost / stolen or damaged due to the fault of the transporting company, then he must be responsible. Second, the legal efforts undertaken by the consumer, namely the resolution of disputes outside the court, the peaceful settlement of disputes by the parties to the dispute is a legal remedy that was first attempted by the parties to the dispute, before the parties chose to settle the dispute through the Consumer Dispute Settlement Agency. The results of the study the authors provide advice to protect consumers, shipping companies responsible for compensation for goods / or services must be replaced with the actual price of goods in accordance with the law by looking at a written contract that is agreed between the business actor and the consumer.

Associated petroleum gas market: Pricing mechanisms

In Western Siberia, the main oil-producing region of Russia, all functioning regulated marketsof associated petroleum gas (APG) have been liberalized. Because of the monopoly-monopsony structure there is a threat of market prices deviation from socially optimal levels, corresponding to the maximum of public good. The analysis of this threat and assessment of the factors that support it is an urgent problem, which has not yet been covered in the scientific literature. The purpose of the study is to assess the consequences of the liberalization of APG markets. The tool for solving the problems of the study is the economic theory of formation of market equilibrium prices in the joint production of APG and oil. On a liberalized APG market, the maximum public welfare corresponds to a set of market prices, which are determined when considering a virtual competitive market. The actual price is formed under the influence of non-market factors. The liberalized market has no mechanism for forming a socially optimalcomposition of non-market factors, and the parties have no information allowing them to determine the corresponding socially optimal APG price. Therefore, it must be set by the regulator. The algorithms for calculation of marginal costs of joint production of oil and APG and socially optimal price of APG are constructed.

COMPARATIVE ANALYSIS OF HISTORIC PREDICTIONS AND ACTUAL GLOBAL NATURAL GAS MARKET TRENDS FOR THE PERIOD FROM 1997 TO 2020

An accurate prediction of energy indicators is critical for orientation in the energy market, and it could give direction for policymakers and market participants. The aim of this research was to examine the accuracy of projections of natural gas market indicators. This paper presents a comparative analysis of historic predictions and actual global natural gas movements in several segments, namely production, consumption, and regional import dependence, as well as forecasted and actual price movements. The goal of this paper is to compare projected and actual natural gas market indicators. Predictions of market movements 20 years into the future are very useful, but they do have certain limitations. Those limitations especially apply to goods whose prices are regional and linked to price movements of another good, as is the case with natural gas. External influences have a direct impact on production and consumption, and it is rather clear that changes in one of the fundamental factors entails and magnifies the error of further predictions. Despite that, predictions of global production and consumption have proven to be very accurate. Based on the research results, it could be emphasized that for strategical planning and policy-making purposes, the predictions of natural gas production, consumption, or even import independence could be considered with great certainty, while price assumptions in the case of natural gas have shown significant mismatching, therefore, should be very carefully perceived.

International Real Estate Review

Taiwan launched the actual price registration system for real estate transactions in 2012. Real estate–related information, for e.g., prices, area and location, can be obtained through a search on this platform. Most market participants, including potential buyers and sellers, obtain property information before making their transaction decision. If the search behavior can be transferred into supply or demand action, then the number of visits to a website can be used as a leading indicator of price changes or transaction volume. This study has collected the number of visits to the actual price registration system in New Taipei City in Taiwan and other macro-economic variables from 2014 to 2019 and applied a model with vector auto-regression with exogenous variables (VARX) for empirical analysis. We find two important results in our analysis: 1. the transaction volume significantly leads house prices and the number of visits to this system in most districts, and 2. the number of visits leads transaction volume only in the district with a very good transportation system and infrastructures, and leads the house prices only in districts that have affordable house prices or deemed to be a “good value”. This is the first empirical study done after Taiwan launched the actual price registration system. Governments in other countries can launch similar systems and market participants can apply the findings of this study to their future policy and investment decision making process.