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The drug market intervention approach to overt drug markets
Edmund F. McGarrell, Nicholas Corsaro, Rodney K. Brunson, 2010, original scientific article

Abstract: Purpose: The purpose of this research was to assess the impact of a strategic intervention intended to eliminate overt drug markets and their associated crime and disorder and to improve relationships between the police and local neighborhood residents. Design/Methods/Approach: The study included a process assessment of the nature of the intervention as well as an impact assessment based on trends in crime, calls-for-police-service and interviews with residents. The research occurred in the U.S. and examined a pilot program in High Point, North Carolina and subsequent implementation in Rockford, Illinois and Nashville, Tennessee. Findings: The paper presents a description of the intervention. Additionally, outcome data indicate that the intervention was related to reductions in crime and calls-forpolice service in all three communities. Raw declines were observed for violent, property and drug offenses with the declines consistently being statistically significant for drug offenses. Additionally, local residents described improved quality of neighborhood life and increased satisfaction with the police. Research limitations/implications: The results suggest that the so-called High Point Drug Market Intervention holds significant promise for addressing overt drug markets. However, the analysis is limited in that the comparison group is the citywide trend in crime as opposed to true comparison sites. Future studies utilizing quasi-experimental or experimental designs are needed to rule out potential rival explanations. Practical implications: The Drug Market Intervention appears to be a promising practice offering police officials a strategy for longer term impact on neighborhood safety and quality of life than has been the case with traditional crackdowns on drug markets. Originality/Value: This paper offers the evaluation results from three sites on a drug market intervention that has gained considerable attention, at least within the U.S.
Keywords: drug crime, drug markets, evaluation
Published: 12.05.2020; Views: 184; Downloads: 4
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The panel VAR approach to modelling the housing wealth effect
Anita Čeh Časni, Ksenija Dumičić, Josip Tica, 2016, original scientific article

Abstract: Following Friedman’s permanent income hypothesis and Ando and Modigliani’s lifecycle hypothesis, this paper empirically studies the role of house prices and income in determining the dynamic behaviour of consumption in selected European post-transition economies using the panel vector autoregression (PVAR) approach and quarterly data covering the period from the first quarter of 2002 until the second quarter of 2012. With the shocks being recognized using the customary recursive identification scheme, we found that the response of personal consumption to the housing wealth shock is initially positive, but short lived.
Keywords: consumption, housing wealth effect, house prices, panel vector autoregression, European emerging markets
Published: 03.05.2018; Views: 387; Downloads: 52
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The determinants of employee ownership plan implementation in EU countries - the quest for economic democracy
Ricardo Machado, 2016, original scientific article

Abstract: Background and purpose: Kelso’s quest to identify the economic counterpart of political democracy and, as a corollary, his concern about the nature of the economic system’s organisation needed to support the institutions of a politically free society, contributed two important terms: economic power and democracy. Following Kelso’s reasoning, my research study aims to understand the determinants of the implementation of economic democracy, measured by the incidence of employee share ownership plans, within European Union countries. Methodology: Setting out with the theory of one of the founding fathers of employee stock ownership plans, I perform a cross-country analysis spanning five years (2008-2012) to explain the incidence level of employee ownership by independent variables operationalizing the political, legal, socio-educational and economic structures of twenty European Union countries. Using secondary data from the European Federation of Employee Share Ownership, I explain the determinants’ pertinence, while accounting for severe data limitations. Results: I report a strong correlation between employee ownership incidence and the index of economic freedom. However, the labour market’s freedom, the trustworthiness of and confidence in financial markets and the quality of secondary and tertiary education do not deliver clear-cut results. Conclusion: Further research should comprehensively scrutinise country-specific factors regarding corporate governance issues and cross-cultural controls. Employee ownership researchers should consider this field of research to understand why countries that are so-called employee ownership champions are experiencing widening income inequality.
Keywords: employee ownership, economic democracy, free markets, economic freedom, equity markets
Published: 22.01.2018; Views: 372; Downloads: 60
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Mobile wallets' business models
Uschi Buchinger, Heritiana Ranaivoson, Pieter Ballon, 2015, original scientific article

Abstract: Background and Purpose: Though Mobile Wallets have the potential to entirely substitute their physical predecessor, many Mobile Wallets narrow their operations to one particular feature. This might be because of strategic business- model design choices to position themselves strategically as intermediates between users and business partners (third parties) in more delimited markets. Thus, Mobile Wallet Applications (MWAs) often represent platforms in narrow two-sided market structures. Design/Methodology/Approach: The paper focuses on the economics of such platforms by the means of a business model analysis. It examines how business partners are integrated in four MWAs’ strategies: Key Ring, FidMe, Apple Passbook and Qustomer. Results: The paper shows that MWAs strive to incorporate not only a large quantity of partners but also such with a high brand value (quality of partners) in their organization design. These partners shape their service design since none of the platforms offer products or services themselves. Hence, MWAs are dependent on the third parties’ capacity and willingness to fulfill engagements and meet the customer demands. Conclusion: MWAs - though concerned with the inclusion and management of loyalty points and schemes - do not leverage the possibility to generate revenue via third parties’ loyalty points. Theoretically, MWAs could reward or redeem loyalty points themselves.
Keywords: mobile wallets, mobile wallet applications, loyalty schemes, business models, two-sided markets
Published: 04.12.2017; Views: 701; Downloads: 86
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Foreign direct investment location choice factors
Romana Korez-Vide, Patrick Voller, Vito Bobek, 2014, original scientific article

Abstract: Due to the liberalization and transformation of emerging markets economies, the attractiveness of these countries for foreign direct investors has been rising in the last decades. This paper explores foreign direct investment (FDI) location choice factors of German and Austrian companies in Brazilian regions. We perform a quantitative analysis, based on the Multinomial Nested Logit Model and supplement its findings by the qualitative analysis, based on the semi-structured experts´ interview. The analyses show that investor-nation specific agglomeration, industry specialization, workforce qualification and physical infrastructure were important FDI location choice factors for German and Austrian companies in Brazil. Suggestions for future research of the FDI location choice factors are discussed.
Keywords: foreign direct investment, location choice factors, emerging markets, agglomerations, Multinomial Nested Logit Model
Published: 07.08.2017; Views: 19260; Downloads: 76
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Nonlinear spillovers between euro area sovereign bond markets
Silvo Dajčman, 2015, original scientific article

Abstract: This paper examines nonlinear spillover effects between sovereign bond markets of six euro area countries (France, Ireland, Italy, Germany, Portugal, and Spain), four of which were among the hardest hit by the sovereign debt crisis, by applying a nonlinear Granger causality test of Diks and Panchenko (2006). The test is applied on the sovereign bond yield dynamics (i.e. yield changes) time series for the time period from 3 January 2000 - 31 August 2011. We also test for ˝pure˝ spillovers between sovereign bond yield dynamics, i.e. the spillovers after controlling for common and regional factors that impact the sovereign bond yield changes of all countries simultaneously. To verify if the nature of spillovers has changed after the start of the euro are sovereign debt crisis, we test for the nonlinear spillovers for the whole observed period and separately for the period be fore and after the start of the euro area sovereign debt crisis (period from the start of April 2010 until the end of our sample, i.e. 31 August 2011). The results of our study show that strong bi-directional Granger causality exists between the investigated sovereign bond markets. Very similar results are obtained whether the regional and world factors are or are not controlled for. We find strong bi-directional non-linear Granger causality for the investigated euro area countries prior the euro area sovereign debt crisis. After the start of the euro area sovereign debt crisis the interdependence be- tween the markets has reduced. We can no longer detect non-linear spillovers running from Germany and France to the ˝periphery˝ euro area countries. The findings of this study have important implications for the policymakers as they show that shocks spill-over quickly across the sovereign bond markets and the intensity and nature of spillovers can change throughout time. The sovereign bond markets of the ˝core˝ euro area decoupled from the ˝periphery˝ euro area sovereign bond markets after the start of euro are debt crisis. The findings are also of relevance for individual investors in the sovereign bond markets for the purpose of portfolio diversification.
Keywords: stock exchanges, bonds, financial crisis, econometric models, EU, sovereign bond markets, spillovers, non-linear Granger causality
Published: 07.08.2017; Views: 552; Downloads: 243
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An empirical study of marketing communications effectiveness in Slovenian market
Damjana Jerman, Bruno Završnik, 2014, original scientific article

Abstract: This paper deals with the value or more specifically, the contribution of marketing communications strategy to effectiveness of marketing communications and hypothesizes that marketing communications strategy correlate with the effectiveness of marketing communications. The paper consists of two parts: the theoretical framework for the role of marketing communications strategy for the effectiveness of the marketing communications and the empirical analysis, based on the primary data collected. The concept of the marketing communication effectiveness assumes that there are variables that can have a positive influence on the effectiveness of marketing communications, which incorporates facets of the marketing communication strategy and bidirectional communications. The results suggest that Slovenian organisations which design and implement marketing communication strategy, also have more effective marketing communications. The development of marketing communications strategy was correlated with increased effectiveness of marketing communications in their organisation. Managerial implications are discussed along with directions for further research.
Keywords: marketing communication effectiveness, business-to-business markets, marketing communication strategy, bidirectional communication, integrated marketing communication
Published: 06.07.2017; Views: 663; Downloads: 294
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Organizational factors for successful entering to e-marketplace
Andreja Pucihar, Mateja Podlogar, 2003, original scientific article

Abstract: The appeal of doing business on the Web is clear. By bringing together large numbers of buyers and sellers and by automating transactions, e-marketplaces expand the choices available to buyers, give sellers access to new customers (buyers), and reduce transaction costs for all participants. Entering the e- marketplace is related to the business process of reengineering, connecting of information systems, gaining new knowledge with training and learning, and making investments in new information technologies and software. Such organization must take very careful steps to prepare itself for a successful entrance on the e-marketplace. Only this kind of approach will enable the organization the full use of the available opportunities and will bring expected business results. The paper presents the different types of e-marketplaces and the use of e-marketplaces for business. Furthermore, the results of the research that was done among 250 large organizations in Slovenia are presented. The current status of the use e-commerce and e-marketplaces in large organizations in Slovenia is introduced. In addition, organizational factors found by large organizations to be important for a successful entrance to the e-marketplaces are presented. We conclude the paper with recommendations for the organizations that intend to enter e-marketplace.
Keywords: organizational factors, e-markets, large organizations, case, Slovenia
Published: 04.07.2017; Views: 442; Downloads: 54
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The CDS and the government bonds markets during the last financial crisis
France Križanič, Žan Oplotnik, 2015, original scientific article

Abstract: Financial market had developed a special instrument to insure the buyers of bonds. This instrument is so called Credit Default Swap (CDS). The CDS price is a kind of insurance premium that the buyer of CDS pays to the seller of CDS in exchange for compensation of possible loss in operation. Paper analyses causality between CDS price and dynamics of bond yields and influence of macroeconomic factors on it in four selected countries during the last financial crisis. Analysis results show that there is no important macroeconomic variable included in the analysis that preceded the CDS prices connected with German government bonds. Sellers of CDS were apparently aware of the systemic nature of the financial crisis in the euro area. In the case of the United Kingdom, Russia and Slovenia we can observe the unemployment rate as the most important macroeconomic variable that preceded the CDS prices for government bonds.
Keywords: bonds, yield, CDS, international financial markets, macroeconomics
Published: 05.04.2017; Views: 605; Downloads: 252
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