Template-Type: ReDIF-Article 1.0 Author-Name: Irwan Trinugroho Author-X-Name-First: Irwan Author-X-Name-Last: Trinugroho Author-Name: Aldy Fariz Achsanta Author-X-Name-First: Aldy Fariz Author-X-Name-Last: Achsanta Author-Name: Putra Pamungkas Author-X-Name-First: Putra Author-X-Name-Last: Pamungkas Author-Name: Sajidan Sajidan Author-X-Name-First: Sajidan Author-X-Name-Last: Sajidan Title: The impact of investment on environmental quality: evidence from Indonesian Provinces Abstract: The impact of foreign direct investment (FDI) on environmental degradation has been a main issue in investment-environment nexus. FDI that is channelled to non-eco-friendly industry most likely will accelerate environmental degradation. In this research, we focus on investigating the effect of FDI on environmental degradation by studying FDI in Indonesia across provinces. We use two proxies of environmental degradation which are Environmental Quality Index and Air Quality Index to measure the severity of air polution in each province. A panel data technique is applied to a panel of 34 provinces resulting in 164 observations province-year observations employed in the empirical estimation. We also disentagle investment as the main explanatory variable, not only FDI but also domestic investment. Our result show that both domestic investment and FDI are positively associated with environmental degradation implying that most of these invesment are channelled into the sector with high negative externalities resulting the decline of environmental quality in particular province. Journal: Int. J. of Trade and Global Markets Pages: 1-13 Issue: 1 Volume: 21 Year: 2025 Keywords: FDI; foreign direct investment; domestic investment; environmental quality index; air quality index; Indonesia. File-URL: http://www.inderscience.com/link.php?id=146310 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:1:p:1-13 Template-Type: ReDIF-Article 1.0 Author-Name: Abirami Mohan Author-X-Name-First: Abirami Author-X-Name-Last: Mohan Author-Name: Raja Rajeswari Ganesh Author-X-Name-First: Raja Rajeswari Author-X-Name-Last: Ganesh Title: Exploring consumer preferences for global brands in India's evolving food retail market: a trend analysis Abstract: The current study discusses the survival of international food companies in Indian retail settings. Foreign competitors successfully monitor the changing trends of consumer demands from time to time to know the needs of the consumers. Due to globalisation, the Indian food industry started blooming with the entry of international players. This research analyses the consumers' decision-making about what they buy, want, and regard foreign food products. This study examines the factors influencing consumer purchasing behaviour on foreign food products to address this research gap. The study employs a quantitative approach, and primary data were collected from 210 respondents using a survey-based questionnaire based on convenience sampling technique. Furthermore, structural equation modelling (SEM) was employed to assess the model and test the hypotheses. This study found that psychological, branding, sales promotion, and environmental elements increase purchase intention. The results also show that international brand recognition positively affects customer preference for international food products. Thus, FMCG companies need research on customer behaviour when buying foreign food, and this study will help Indian manufacturers grow their market share. Journal: Int. J. of Trade and Global Markets Pages: 14-38 Issue: 1 Volume: 21 Year: 2025 Keywords: FMCG marketing; food products; promotional activities; purchase intention; retail marketing; international players; SEM; structural equation modelling. File-URL: http://www.inderscience.com/link.php?id=146316 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:1:p:14-38 Template-Type: ReDIF-Article 1.0 Author-Name: S. Shri Sailaxmi Author-X-Name-First: S. Shri Author-X-Name-Last: Sailaxmi Author-Name: Nisha Ranjithsingh Author-X-Name-First: Nisha Author-X-Name-Last: Ranjithsingh Title: Strategies for enhancing Gen Z employee retention in the BPO industry: a focus on organisational economic socialisation Abstract: The study aims to investigate the factors influencing Gen Z ER (Employee Retention) by examining the role of organisational economic socialisation factors (i.e., training, co-worker support, prospects) and psychological contracts. In contrast to previous generations, socialising and retaining Generation Z (Gen Z) employees is difficult to engage and retain in the business process outsourcing (BPO) industry. Data was collected via an online questionnaire using cluster probability sampling techniques from four BPO organisations targeting only Gen Z employees working in the BPO industry, and 137 responses were recorded. We tested the hypothesis using the confirmatory factor analysis (CFA), partial least square structural equation model (PLS-SEM) and mediation analysis. The study's results imply that the psychological contract illustrates a mediating factor between the construct of organisational socialisation and ER, particularly concerning Gen Z. This study recommends that BPO companies focus on training programs, development of proper career progression, improving psychological contracts and enhancing the presence of co-workers' support to retain Gen Z employees. Journal: Int. J. of Trade and Global Markets Pages: 39-70 Issue: 1 Volume: 21 Year: 2025 Keywords: organisational economic socialisation; co-worker support; employee retention; future prospects; Gen Z; organisational socialisation; psychological contract; training. File-URL: http://www.inderscience.com/link.php?id=146317 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:1:p:39-70 Template-Type: ReDIF-Article 1.0 Author-Name: Christo Aditya Bikram Bepari Author-X-Name-First: Christo Aditya Bikram Author-X-Name-Last: Bepari Author-Name: Manoranjan Dash Author-X-Name-First: Manoranjan Author-X-Name-Last: Dash Author-Name: Bibhuti Bhusan Pradhan Author-X-Name-First: Bibhuti Bhusan Author-X-Name-Last: Pradhan Author-Name: Preeti Y. Shadangi Author-X-Name-First: Preeti Y. Author-X-Name-Last: Shadangi Title: Emerging commodity-equity interdependencies: TVP-VAR analysis of oil, gold, and global stock markets Abstract: The interconnectedness between crude oil, gold, and stock markets has been global interest among policy makers and investors to effectively diversify their portfolios and make informed investment decisions. It analyses interconnectedness among a sample cluster comprising Crude Oil, Gold and sixteen global equity markets including developed and emerging based on generalised autoregressive conditional heteroskedasticity (GARCH) and time-varying parameter vector auto regressive model (TVP-VAR) model. The examination of daily data pertaining to various stock markets and global oil prices, gold prices reveals developed stock markets transmits its shocks more than the emerging stock markets and Gold transmits more than Oil. Further, the total spillover index value is 34.33% across the sample period which indicates that approximately one-third of the variability in the data can be attributed to spillover effects suggesting a considerable degree of interdependence or influence among the variables under consideration during the specified time frame and volatility spillover patterns has been examined meticulously. Journal: Int. J. of Trade and Global Markets Pages: 91-114 Issue: 1 Volume: 21 Year: 2025 Keywords: crude oil price; gold price; emerging markets; developed markets; connectedness approach; TVP-VAR; time-varying parameter vector auto regressive model. File-URL: http://www.inderscience.com/link.php?id=146319 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:1:p:91-114 Template-Type: ReDIF-Article 1.0 Author-Name: Ha Ngan Duong Author-X-Name-First: Ha Ngan Author-X-Name-Last: Duong Author-Name: Hang Thi Ngo Author-X-Name-First: Hang Thi Author-X-Name-Last: Ngo Title: Divestment of state capital and stock price reaction: evidence from an emerging economy Abstract: This study assesses the short-run impact of divesting state capital on the stock price fluctuations of listed and privatised state-owned enterprises in Vietnam's emerging economy. Deploying event study and ordinary least squares regression models on a day-end database of listed state-owned enterprises' (SOEs) market prices during the period from 2017 to 2022, our research findings indicate that divestment of state capital significantly impacts businesses in the short run, which is reflected in abnormal and positive changes in the stock prices around the divestment announcement dates. Interestingly, our findings also reveal that this impact alters according to the characteristics of the business, including firm size, the size of the divestment deal, and the remaining portion of state capital at the business. These findings shape our recommendations for investors when making investment decisions based on the divestment plans of the state. Journal: Int. J. of Trade and Global Markets Pages: 71-90 Issue: 1 Volume: 21 Year: 2025 Keywords: divestment; emerging economy; state capital; price reaction; event study; short-run effect. File-URL: http://www.inderscience.com/link.php?id=146321 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:1:p:71-90 Template-Type: ReDIF-Article 1.0 Author-Name: Bhawna Bamel Author-X-Name-First: Bhawna Author-X-Name-Last: Bamel Author-Name: Sunil Phougat Author-X-Name-First: Sunil Author-X-Name-Last: Phougat Title: Exploring key themes and trends in India's agricultural trade: a systematic literature review Abstract: This paper serves two main purposes: first, to conduct a systematic analysis of the literature on India's agricultural trade and second, to explore the trends and central themes in existing studies, providing a roadmap for future researchers. Using a systematic literature review (SLR) of studies from 2000 to 2024, it examines four themes: trends and performance, comparative advantage, trade diversification and the link between agricultural exports and economic growth. The study shows that despite substantial growth in India's agricultural exports, challenges persist in the underperformance of traditional exports along with increased competition from other Asian countries. The study highlights the need for diversification into high-value goods to enhance competitiveness and shows a positive link between agricultural exports and economic growth. This research contributes to existing literature by offering a comprehensive analysis of empirical evidence on India's agricultural trade, providing valuable insights, and presenting a unified picture of the subject field. Journal: Int. J. of Trade and Global Markets Pages: 140-162 Issue: 2 Volume: 21 Year: 2025 Keywords: agricultural trade; agricultural commodities; comparative advantage; economic growth; exports; diversification; India; SLR; systematic literature review. File-URL: http://www.inderscience.com/link.php?id=146645 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:2:p:140-162 Template-Type: ReDIF-Article 1.0 Author-Name: Vito Bobek Author-X-Name-First: Vito Author-X-Name-Last: Bobek Author-Name: Julian Cienciala Author-X-Name-First: Julian Author-X-Name-Last: Cienciala Author-Name: Tatjana Horvat Author-X-Name-First: Tatjana Author-X-Name-Last: Horvat Title: Critical business performance factors in the internationalisation of middle-sized automotive suppliers: insights from German and Austrian firms in the Mexican market Abstract: This study examines the critical success factors for internationalising German and Austrian medium-sized automotive suppliers in Mexico. Based on qualitative interviews, it identifies six key factors: local network development, local leadership, cultural adaptation, preparation and planning, transmission of corporate values, and investment in training. These factors help firms navigate challenges such as regulatory complexities and cultural differences. The findings emphasise the importance of adapting corporate strategies to local conditions while maintaining strong ties with headquarters. The study suggests that network theory offers a more comprehensive view of internationalisation for medium-sized companies and provides practical recommendations for companies expanding into Mexico. Journal: Int. J. of Trade and Global Markets Pages: 163-187 Issue: 2 Volume: 21 Year: 2025 Keywords: internationalisation; automotive suppliers; medium-sized companies; Mexico; success factors; cultural adaptation; local leadership. File-URL: http://www.inderscience.com/link.php?id=146647 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:2:p:163-187 Template-Type: ReDIF-Article 1.0 Author-Name: Arun Mittal Author-X-Name-First: Arun Author-X-Name-Last: Mittal Author-Name: Bhopendra Singh Author-X-Name-First: Bhopendra Author-X-Name-Last: Singh Author-Name: Sonia Singh Author-X-Name-First: Sonia Author-X-Name-Last: Singh Author-Name: Priyank Kumar Singh Author-X-Name-First: Priyank Kumar Author-X-Name-Last: Singh Author-Name: S. Suman Rajest Author-X-Name-First: S. Suman Author-X-Name-Last: Rajest Title: Impact of social media (SM) information on stock market investment decisions (ID): a quantitative investigation using SEM-ANN approach Abstract: Social media (SM) platforms have been an essential source of investment-related information. This information influences retail investors' decision-making regarding stock market investment. However, such information is vast, unstructured and mixed. The present study explores specific characteristics and dimensions of social media information that influence investors' decisions significantly in stock market investment. The theoretical framework contains five antecedent variables: Herd Behaviour, Opinion Leadership, Information Trustworthiness, Information Timeliness and Sentiments. It was proposed to investigate how these five variables predict stock market investment decisions (SMID). This study is descriptive, where primary data was used to establish the proposed causal relationships. The data were collected from 341 Indian retail investors whose investments were based on the judgement sampling. The judgement criteria were the size of their portfolio, i.e., 5-50 lakhs. SEM was applied to analyse the data. However, ANN was applied to re-confirm the results. It was found in the study that four out of five variables (except 'Sentiments') influenced the SMID significantly. The findings of this study are useful for financial intermediaries in attracting investors towards stock market investors by giving due consideration to their behaviour on social media. Journal: Int. J. of Trade and Global Markets Pages: 188-218 Issue: 2 Volume: 21 Year: 2025 Keywords: social media (SM); investment decision; herd behaviour; information timeliness; information trustworthiness; SNWS; social networking sites; SEM; structural equation modelling; ANN; artificial neural network; SMID; stock market investment decisions. File-URL: http://www.inderscience.com/link.php?id=146648 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:2:p:188-218 Template-Type: ReDIF-Article 1.0 Author-Name: Hadi Ismanto Author-X-Name-First: Hadi Author-X-Name-Last: Ismanto Author-Name: Atmaji Atmaji Author-X-Name-First: Atmaji Author-X-Name-Last: Atmaji Author-Name: Endang Suhari Author-X-Name-First: Endang Author-X-Name-Last: Suhari Author-Name: Tastaftiyan Risfandy Author-X-Name-First: Tastaftiyan Author-X-Name-Last: Risfandy Title: The role of sales and investment on the environmental performance of publicly listed firms in Indonesia Abstract: This paper examines the impact of sales and investment on the environmental performance of a firm listed in the Indonesian stock market. A deeper analysis is also conducted to examine operational efficiency as a moderator in this relationship. To investigate this issue, we use data collected from 133 publicly listed firms in Indonesia from 2015 to 2021. Using ordered probit analysis, our findings indicate that sales and investments of a firm, proxied by capital expenditures, have a positive impact on environmental performance. It implies that firms with high sales and allocate more of their funds to acquire fixed assets have more incentive to enhance their long-term profits through environmental initiatives. Furthermore, this paper also demonstrates that operational efficiency serves as a good moderator to strengthen the impact of sales and investments on a company's environmental performance. Overall, the paper suggests that Indonesian firms should accelerate their business practices not only for accounting and market performance but also for environmental performance. Journal: Int. J. of Trade and Global Markets Pages: 115-139 Issue: 2 Volume: 21 Year: 2025 Keywords: sales; investment; environmental performance; Indonesia; sustainability; operational efficiency; capital expenditure. File-URL: http://www.inderscience.com/link.php?id=146649 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:2:p:115-139 Template-Type: ReDIF-Article 1.0 Author-Name: R. Thatchayani Author-X-Name-First: R. Author-X-Name-Last: Thatchayani Author-Name: G. Kamali Author-X-Name-First: G. Author-X-Name-Last: Kamali Author-Name: Ramasamy Murugesan Author-X-Name-First: Ramasamy Author-X-Name-Last: Murugesan Title: Examining the impact of financial development on promoting international trade in G20: a PCA and panel ARDL approach Abstract: This research examines the relationship between financial development (FD) and international trade within the context of G20 economies from 1980 to 2021. Drawing upon data from the World Bank and the international monetary fund (IMF), the research employs principal component analysis (PCA) to create a composite index of FD. Panel autoregressive distributed lag (ARDL) modelling is then utilised to investigate the long-run equilibrium relationship and short-term dynamics between these variables. The findings reveal a statistically significant positive long-term impact of FD on G20 trade. Additionally, the analysis suggests that well-developed financial systems enhance overall trade activity, with potential short-term effects disproportionately impacting imports. Granger causality tests further confirm bidirectional causality between FD and trade, highlighting their mutually reinforcing nature. By focusing on the G20, a group of leading economies with significant global trade influence, this research contributes to a more nuanced understanding of this critical nexus. The findings offer valuable insights for policymakers seeking to leverage FD strategies and trade integration initiatives to promote sustainable economic growth within the G20 framework. Journal: Int. J. of Trade and Global Markets Pages: 219-243 Issue: 2 Volume: 21 Year: 2025 Keywords: financial development; international trade; G20; panel ARDL; PCA; principal component analysis. File-URL: http://www.inderscience.com/link.php?id=146650 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:2:p:219-243 Template-Type: ReDIF-Article 1.0 Author-Name: Lutfu S. Sua Author-X-Name-First: Lutfu S. Author-X-Name-Last: Sua Author-Name: Haibo Wang Author-X-Name-First: Haibo Author-X-Name-Last: Wang Author-Name: Jun Huang Author-X-Name-First: Jun Author-X-Name-Last: Huang Title: Spatiotemporal impact of trade policy variables on Asian manufacturing hubs: Bayesian global vector autoregression model Abstract: A novel spatiotemporal framework using diverse econometric approaches is proposed to analyse relationships among economy-wide variables in varying market conditions. Employing vector autoregression and Granger causality, we explore trade policy effects on emerging manufacturing hubs in China, India, Malaysia, Singapore, and Vietnam. A Bayesian global vector autoregression (BGVAR) model assesses the interaction of cross-unit and performs unconditional and conditional forecasts. Utilising time-series data, this study reveals multi-way cointegration and dynamic connectedness relationships among economy-wide variables. This innovative framework enhances investment decisions and policymaking through a data-driven approach, contributing to the development of a unique conceptual spatiotemporal framework for causality, co-integration, and dynamic connectedness. The results are consistent with existing economic theory. Currency devaluations lead to inflation which forces governments to slow down the economy amid its negative effect on employment. Similarly, fluctuating levels of imports/exports alter the flows of foreign currency enforcing policymakers to react to preserve the exchange rates around their real values. Journal: Int. J. of Trade and Global Markets Pages: 270-296 Issue: 3 Volume: 21 Year: 2025 Keywords: cointegration; BGVAR; Bayesian global vector autoregression; manufacturing hub; time-series data; conditional and unconditional forecasts. File-URL: http://www.inderscience.com/link.php?id=148045 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:3:p:270-296 Template-Type: ReDIF-Article 1.0 Author-Name: B. Monisha Author-X-Name-First: B. Author-X-Name-Last: Monisha Author-Name: R. Valarmathi Author-X-Name-First: R. Author-X-Name-Last: Valarmathi Title: Regulatory data protection for global economy of biopharmaceuticals: comparative legal analysis with focus on innovative biopharma in India Abstract: This provides a new global economy of biopharmaceuticals with an exclusive right over clinical data, meaning that no other person or persons may use them for a specified period. This study, therefore, offers a critical analysis of complementary protection granted to biopharmaceuticals by patents and regulatory data protection (RDP) globally with respect to innovation, competition, and access to medicines. This study probes the effectiveness and the challenge RDP is making using statistical analysis, financial modelling, and comparative analysis of the regulatory framework in Central Drugs Standard Control Organization (CDSCO), Food and Drug Administration (FDA), and Emergency Market Authorization (EMA). The justification for this combination is that RDP fosters innovation due to the protection of clinical trial investments, which provides a drive for the introduction of innovative biologics but does not inhibit the launch of biosimilars. With RDP, though they are very different in what they do, patents have created an enabling environment to make sustainable innovation in biopharmaceuticals accessible. International regulatory hurdles have to emerge so that a balance that advances both innovation and affordability becomes the norm within biopharma. Journal: Int. J. of Trade and Global Markets Pages: 319-353 Issue: 3 Volume: 21 Year: 2025 Keywords: regulatory data protection; RDP; global economy of biopharmaceuticals; patent law; access to medicine; sustainable development goal; clinical trial investments. File-URL: http://www.inderscience.com/link.php?id=148046 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:3:p:319-353 Template-Type: ReDIF-Article 1.0 Author-Name: Daniel Gómez Abella Author-X-Name-First: Daniel Gómez Author-X-Name-Last: Abella Author-Name: Catherine Pereira Villa Author-X-Name-First: Catherine Pereira Author-X-Name-Last: Villa Title: Effects of Ecuador's regional trade agreements: a partial equilibrium analysis Abstract: This study presents an empirical evaluation of Ecuador's regional trade agreements (RTAs) with Mexico, China, and the Pacific Alliance on trade, production, and welfare. The analysis utilises the global simulation model (GSIM) and incorporating estimated elasticities. The findings reveal that the bilateral RTAs with Mexico and China yield substantial trade creation effects, while the RTA with the Pacific Alliance displays heterogeneous impacts on trade among member countries. Notably, the RTA with China is anticipated to drive significant expansion in Ecuador's production capabilities, in stark contrast to the more modest growth projected under the RTAs with Mexico and the Pacific Alliance. Journal: Int. J. of Trade and Global Markets Pages: 354-374 Issue: 3 Volume: 21 Year: 2025 Keywords: regional trade agreements; trade creation; trade diversion; partial equilibrium model; welfare effects; GSIM model; tariff liberalisation; bilateral trade; Ecuador. File-URL: http://www.inderscience.com/link.php?id=148047 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:3:p:354-374 Template-Type: ReDIF-Article 1.0 Author-Name: Roksana Khan Author-X-Name-First: Roksana Author-X-Name-Last: Khan Title: Trade-related international support measures withdrawn from Bangladesh: least developed country graduation perspective Abstract: After least developed country (LDC) graduation, Bangladesh will loss international support measures (ISMs), specially, DFQF, Rules of Origin, TRIPS transition and waiver and GSPs. In consequence, export and tariff might be affected severely. However, for Bangladesh an integrated policy approach is yet to be established to mitigate trade related ISMs only. Qualitative analysis specially, content analysis with the tools of stakeholder mapping, SWOT and causal relationship have been conducted. In addition, Risk Mitigation and Multi Criteria analysis have also been applied. Through analysis, best policy option derived as 'sustainable strategic plan for trade related ISMs loss' which would be able to cover losses of preferential market access, S%DT provision of WTO and interconnecting issues of all trade related ISMs. The paper also added value with recommendation of establishing LDC Graduation Cell under the direct supervision of the Prime Minister's Office for implementation and coordination of the LDC graduation plan. Journal: Int. J. of Trade and Global Markets Pages: 297-318 Issue: 3 Volume: 21 Year: 2025 Keywords: LDC graduation; trade related ISMs; mitigate adversity; international trade; policy option; strategic plan; policy tools; policy formulation; implementation plan; evaluation and monitoring; LDC cell. File-URL: http://www.inderscience.com/link.php?id=148048 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:3:p:297-318 Template-Type: ReDIF-Article 1.0 Author-Name: Beena Saraswathy Author-X-Name-First: Beena Author-X-Name-Last: Saraswathy Title: Import dependence and export competitiveness of Indian steel sector: a comparison with China Abstract: This study examines the import dependence and export competitiveness in the Indian steel sector using normalised trade balance (NTB), import penetration (IP), revealed comparative advantage (RCA) and constant market share (CMS) analysis. The study observed that the NTB is negative for several products. The IP increased in the second period of analysis (2018), indicating increased import dependence to meet domestic demand. Export orientation is not substantial during the same period, indicating a loss of domestic firms' competitiveness. Import restrictions are coming down, which increase competition. RCA indicates, export competitiveness for value-added products are less compared to China. For China, products with high export share is having better RCA than that for India. CMS decomposition analysis found that much of the export growth is occurring due to the matching world growth effects, and not due to the competitiveness effect. Nevertheless, many steel products India benefitted from the commodity effects, as its demand increased globally. Journal: Int. J. of Trade and Global Markets Pages: 245-269 Issue: 3 Volume: 21 Year: 2025 Keywords: regulations and industrial policy; sectoral planning methods; industry studies; manufacturing; metal and metal products. File-URL: http://www.inderscience.com/link.php?id=148050 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:3:p:245-269 Template-Type: ReDIF-Article 1.0 Author-Name: Ekta Verma Author-X-Name-First: Ekta Author-X-Name-Last: Verma Author-Name: Sandeep Kaur Author-X-Name-First: Sandeep Author-X-Name-Last: Kaur Title: Global value chain, trade and digitalisation: a comprehensive review Abstract: Global value chains (GVCs) have emerged as an essential element of international trade, enabling firms to divide manufacturing processes across several countries. The introduction of digitalisation has remarkably transformed the GVCs and developed new dynamics that alter how products and services are designed, delivered, and utilised internationally. The review paper discusses the connection between the GVC, Trade, and digitalisation, highlighting how digital technologies are transforming and reshaping conventional GVCs. The present review paper underlines that digitalisation improves the production process and cost of communication and enhances quality and transparency, contributing to the accessibility, economy, and efficiency of global trade. Additionally, the review discusses the opportunities and threats for developing nations and small and medium enterprises (SMEs) to integrate GVC with digitalisation. Ultimately, this analysis emphasises how important digitalisation is to how trade and countries are conducted worldwide in the future. Journal: Int. J. of Trade and Global Markets Pages: 375-387 Issue: 4 Volume: 21 Year: 2025 Keywords: GVC; global value chain; international trade; digitalisation; transformation; digital technologies; manufacturing; digital economy; SMEs; small and medium enterprises. File-URL: http://www.inderscience.com/link.php?id=148616 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:4:p:375-387 Template-Type: ReDIF-Article 1.0 Author-Name: Nimet Kalkan Author-X-Name-First: Nimet Author-X-Name-Last: Kalkan Author-Name: Şengül Duran Author-X-Name-First: Şengül Author-X-Name-Last: Duran Title: Identifying target export countries through network analysis: the case of Turkish hazelnut export Abstract: This study investigates Türkiye's hazelnut export network to identify target export countries and evaluate whether they are probable targets for the hazelnut market. The research is based on network theory and examines Türkiye by the cooccurrences of exports to 121 countries from 41 provinces of Türkiye. The results show that the USA, the UK, Sweden, Saudi Arabia, the UAE, and Israel are in central positions in Türkiye's hazelnut network. After evaluating the results at the country level, the findings suggest that these countries are potential targets for expanding the hazelnut exports of Türkiye. The research, revealing the issue in Türkiye, the leader in hazelnut production and exports, highlights for the policymakers the importance of handling the issue from a network perspective in trade decisions, enlightening them about its significance in shaping a new sustainable world trade order. Journal: Int. J. of Trade and Global Markets Pages: 417-438 Issue: 4 Volume: 21 Year: 2025 Keywords: international trade; sustainable trade; network analysis; network theory; hazelnut export; export network; target export countries; UCINET; centrality; Türkiye. File-URL: http://www.inderscience.com/link.php?id=148617 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:4:p:417-438 Template-Type: ReDIF-Article 1.0 Author-Name: Imade Yoga Prasada Author-X-Name-First: Imade Yoga Author-X-Name-Last: Prasada Author-Name: Aura Dhamira Author-X-Name-First: Aura Author-X-Name-Last: Dhamira Author-Name: Dinda Dewi Aisyah Author-X-Name-First: Dinda Dewi Author-X-Name-Last: Aisyah Author-Name: Ayu Putri Merry Anisya Author-X-Name-First: Ayu Putri Merry Author-X-Name-Last: Anisya Title: Prices and competitiveness of Indonesian natural rubber exports under the Agreed Export Tonnage Scheme (AETS) policy Abstract: The International Tripartite Rubber Council (ITRC) implements the Agreed Export Tonnage Scheme (AETS) policy as an effort to stabilise the price of natural rubber on the international market by limiting the volume of natural rubber exports from ITRC member countries, including Indonesia. This research was conducted with the aim of evaluating the impact of the AETS policy implementation on the price and competitiveness of Indonesian natural rubber exports in destination countries. The data used is secondary data and is arranged in the form of panel data from 26 countries within the period of 2000 to 2022. The data was analysed using the RCA method, the two-stage least squares (2SLS) model, and the PSM model. Results show that the AETS policy implemented has not been able to have a significant impact on increasing the export price of Indonesian natural rubber. However, higher export prices have a negative relationship with the competitiveness of Indonesian natural rubber exports in destination countries. Journal: Int. J. of Trade and Global Markets Pages: 439-461 Issue: 4 Volume: 21 Year: 2025 Keywords: AETS; Agreed Export Tonnage Scheme; competitiveness; natural rubber; price; 2SLS; two-stage least squares. File-URL: http://www.inderscience.com/link.php?id=148619 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:4:p:439-461 Template-Type: ReDIF-Article 1.0 Author-Name: Jia Xin Ng Author-X-Name-First: Jia Xin Author-X-Name-Last: Ng Author-Name: Zhi Nie Seet Author-X-Name-First: Zhi Nie Author-X-Name-Last: Seet Author-Name: Siok Kun Sek Author-X-Name-First: Siok Kun Author-X-Name-Last: Sek Title: The impact of globalisation on business cycle synchronisation: the case of ASEAN5 Abstract: The study examines the impact of globalisation on business cycle synchronisation between ASEAN5 and partner countries: China (CHN), Japan (JPN) and United States (USA) from 1982 to 2021 using static and dynamic Common Correlated Effect estimators. It aims to: 1) investigate the synchronisation levels of ASEAN5 with each partner country; 2) identify the best estimator; and 3) reveal the main determinants of synchronisation. The findings indicate that synchronisation varies across period and countries. ASEAN5 aligns most with the USA from 1998 to 2009, but with an increase synchronisation with CHN starting 2010. The CS-DL estimator emerges as the most effective estimator. Key determinants that affect synchronisation differ between short term and long-term scenarios: financial openness and urbanisation negatively impact ASEAN5-CHN and ASEAN5-USA respectively, while FDI inflow negatively impacts ASEAN5-JPN in the short term but positively in the long term. The insights are crucial for regional policy decision and planning. Journal: Int. J. of Trade and Global Markets Pages: 388-416 Issue: 4 Volume: 21 Year: 2025 Keywords: globalisation; business cycle synchronisation; ASEAN5; financial openness; urbanisation; FDI inflows. File-URL: http://www.inderscience.com/link.php?id=148620 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:4:p:388-416 Template-Type: ReDIF-Article 1.0 Author-Name: Hye-Sung Park Author-X-Name-First: Hye-Sung Author-X-Name-Last: Park Author-Name: Young-Min Lee Author-X-Name-First: Young-Min Author-X-Name-Last: Lee Title: A study on voluntary turnover and organisational performance with training and education: focusing on small and medium-sized enterprises Abstract: This study aimed to empirically examine the relationship between investment in vocational training, voluntary turnover rates, and organisational performance, focusing on small and medium-sized enterprises (SMEs). Using firm panel data, we tested the effect of the independent variable, training costs per employee, on the dependent variables of voluntary turnover rates and an indicator of organisational performance (revenue per employee) through a fixed-effects model. First, we found a statistically insignificant relationship between training costs per employee and the voluntary turnover rate. Second, we observed a statistically significant relationship between training costs per employee and revenue per employee. Additionally, in companies with fewer than 300 employees, a statistically significant effect on the voluntary turnover rate was noted, but no significant effect was found on revenue per employee. Journal: Int. J. of Trade and Global Markets Pages: 485-491 Issue: 4 Volume: 21 Year: 2025 Keywords: vocational training; voluntary turnover rate; organisational performance; SMEs; small and medium-sized enterprises. File-URL: http://www.inderscience.com/link.php?id=148621 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:4:p:485-491 Template-Type: ReDIF-Article 1.0 Author-Name: Kshitij Kumar Author-X-Name-First: Kshitij Author-X-Name-Last: Kumar Author-Name: Bateshwar Singh Author-X-Name-First: Bateshwar Author-X-Name-Last: Singh Title: Geopolitical risks and financial markets: a 27-year bibliometric study of global financial trends Abstract: The present research conducts a thorough bibliometric examination of the correlation between geopolitical risks and financial markets between 1997 and 2024. The analysis is conducted using R studio and VOSViewer, with data sourced from Scopus and Web of Science (WoS) databases. The research output has a yearly growth rate of 19.58%, showing significant increase in scholarly interest in this topic. Resources Policy and Energy Economics have made significant contributions in understanding the interplay between geopolitical risk and market volatility. China and India emerged as leaders in the global research collaborations. Thematic evolution reflects a shift from early concerns about financial crises and stock market volatility to recent issues such as climate policy uncertainty and clean energy. Looking ahead, future research should explore new-age risks like cyber warfare and pandemics, with integrating machine learning techniques to enhance the predictive analyses of geopolitical risks on financial markets. Journal: Int. J. of Trade and Global Markets Pages: 462-484 Issue: 4 Volume: 21 Year: 2025 Keywords: bibliometric analysis; geopolitical risk; financial markets; market volatility; RStudio; biblioshiny. File-URL: http://www.inderscience.com/link.php?id=148622 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:4:p:462-484 Template-Type: ReDIF-Article 1.0 Author-Name: Ishwar Sharma Author-X-Name-First: Ishwar Author-X-Name-Last: Sharma Author-Name: Chanchal Saini Author-X-Name-First: Chanchal Author-X-Name-Last: Saini Author-Name: Komal Jindal Author-X-Name-First: Komal Author-X-Name-Last: Jindal Title: The dividend enigma: deciphering the effect on Indian ETF performance in stress and normal periods Abstract: This study explored the effect of Dividend events on the performance of exchange-traded funds (ETFs) in India during both normal and stressful market conditions. While dividend effects on individual equities are well documented, their influence on ETF pricing dynamics - especially in emerging markets - remains underexplored. We utilised standard event study methodology and tested our findings across four event windows to ensure robustness. In addition, we employed both the t-test (parametric) and the Corrado test (non-parametric) statistics to check the significance of abnormal returns. We found that dividend events in normal situations provide profitable opportunities for short-term traders. They could take a long position before the ex-dividend date, as positive cumulative returns are observed before that date. After that date, a short position would be helpful for them in making profits. On the other hand, short-term traders have limited profitable opportunities during market stress; their best option is to earn by tracking market movements. Journal: Int. J. of Trade and Global Markets Pages: 493-513 Issue: 5 Volume: 21 Year: 2025 Keywords: ETFs performance; dividend announcement; ex-dividend; event study; ETFs; exchange-traded funds. File-URL: http://www.inderscience.com/link.php?id=150061 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:5:p:493-513 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammadriyaj Faniband Author-X-Name-First: Muhammadriyaj Author-X-Name-Last: Faniband Author-Name: Seema Singh Author-X-Name-First: Seema Author-X-Name-Last: Singh Title: Who shakes the Indian stock market more: the USA or China's trade policy uncertainty? a sectoral-level analysis Abstract: This study investigates the asymmetric effects of USA and China trade policy uncertainty (TPU) on Indian stock market indices using a quantile regression approach and monthly data ranging from April 2005 to May 2025. We cover 16 indices including 13 sectoral and 3 market capitalisation-based indices. The results reveal substantial heterogeneity in how different indices respond to TPU originating from the USA vs. China. USA TPU significantly impacts several Indian sectors, with negative and statistically significant effects observed for chemicals, financial services, fast moving consumer goods fast moving consumer goods (FMCG) and energy sectors. In contrast, the effects of China TPU are largely insignificant across most sectors, with notable exceptions being the chemicals sector and large-cap. The findings underscore the dominance of USA policy shocks in shaping stock returns in emerging markets like India. The study offers critical insights for policymakers and investors, navigating cross-border trade uncertainty in a volatile global environment. Journal: Int. J. of Trade and Global Markets Pages: 560-580 Issue: 5 Volume: 21 Year: 2025 Keywords: TPU; trade policy uncertainty; USA trade policy; China trade policy; Indian stock market; quantile regression; asymmetric effects; sectoral indices; market capitalisation. File-URL: http://www.inderscience.com/link.php?id=150072 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:5:p:560-580 Template-Type: ReDIF-Article 1.0 Author-Name: Bui Thi Men Author-X-Name-First: Bui Thi Author-X-Name-Last: Men Author-Name: Linh Phan Phuong Author-X-Name-First: Linh Phan Author-X-Name-Last: Phuong Author-Name: Thanh Nguyen Duc Author-X-Name-First: Thanh Nguyen Author-X-Name-Last: Duc Author-Name: Mai Nguyen Thanh Author-X-Name-First: Mai Nguyen Author-X-Name-Last: Thanh Author-Name: Trung Ha Duy Author-X-Name-First: Trung Ha Author-X-Name-Last: Duy Title: The impact of information and communication technology on CO2 emissions in the context of environmental sustainability development: a case study of Asian countries Abstract: This study investigates the influence of information and communication technology (ICT) on Asia's greenhouse gas emissions from 2000 to 2023. The findings reveal that ICT development significantly reduces CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions once it reaches a certain threshold. This paper underscores the vital role of digital infrastructure and technological advancement in promoting environmental sustainability. Additionally, the analysis shows that gross domestic product (GDP) is negatively correlated with greenhouse gas emissions, suggesting that higher economic output may be linked with improved emission efficiency. In contrast, foreign direct investment (FDI), energy consumption, and research and development (R%D) expenditure are associated with increased CO<SUB align="right"><SMALL>2</SMALL></SUB> emissions. Based on these results, it is recommended that Asian countries accelerate ICT development, encourage environmentally responsible investment, and reform energy policies to achieve a sustainable balance between economic growth and environmental protection. Journal: Int. J. of Trade and Global Markets Pages: 514-533 Issue: 5 Volume: 21 Year: 2025 Keywords: ICT; information and communication technology; greenhouse gas emissions; sustainable environmental development; regression model; Asia. File-URL: http://www.inderscience.com/link.php?id=150079 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:5:p:514-533 Template-Type: ReDIF-Article 1.0 Author-Name: María Gabriela Ramos-Barrera Author-X-Name-First: María Gabriela Author-X-Name-Last: Ramos-Barrera Author-Name: Claudia Milena Pico-Bonilla Author-X-Name-First: Claudia Milena Author-X-Name-Last: Pico-Bonilla Author-Name: Andrés Aguilera-Castillo Author-X-Name-First: Andrés Author-X-Name-Last: Aguilera-Castillo Title: From tariffs to technology policies: the role of regionalism in the digital economy Abstract: This paper explores the evolving role of regionalism in fostering technology transfer within global value chains (GVCs). Combining theoretical and empirical perspectives, we analyse WTO-X provisions in regional trade agreements (RTAs) and assess their capacity to promote knowledge diffusion, innovation, and digital transformation. The findings reveal that: i) while RTAs increasingly include provisions on technology transfer, most lack legally binding mechanisms, limiting their effectiveness in enabling technological upgrading, particularly in developing economies; ii) by examining key indicators such as AI preparedness and regional disparities in knowledge production, the study underscores structural inequalities that constrain inclusive development; and iii) there is an underexplored intersection of regionalism and technology transfer in academic research. The paper concludes by advocating for a stronger regionalism framework with enforceable commitments to innovation policies, education, and industrial cooperation, essential for fostering equitable technology diffusion and sustainable economic integration in the digital era. Journal: Int. J. of Trade and Global Markets Pages: 534-559 Issue: 5 Volume: 21 Year: 2025 Keywords: regionalism; technology transfer; GVCs; global value chains; trade agreements; digital economy. File-URL: http://www.inderscience.com/link.php?id=150088 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:5:p:534-559 Template-Type: ReDIF-Article 1.0 Author-Name: Octavio Martínez-Baltodano Author-X-Name-First: Octavio Author-X-Name-Last: Martínez-Baltodano Author-Name: Ranjeeva Ranjan Author-X-Name-First: Ranjeeva Author-X-Name-Last: Ranjan Title: Beyond welfare: how security concerns drive USA tariff policies Abstract: Why do USA tariffs persist despite known welfare costs? We develop a dynamic model in which tariffs expand domestic industrial capacity that supports military readiness. Policymakers trade off static price and distortion losses against future security gains and adjustment costs. We derive conditions for an interior optimal tariff that balances diminishing security returns with rising distortions and yields a nonmonotonic response to the effectiveness of industrial policy. Extending the framework to a bilateral game, we show how asymmetries in revenue efficiency, adjustment frictions, and national priorities generate higher tariffs in the USA than in China. Evidence from the 2018 to 2025 trade war connects the model to observed outcomes. Policy implications include limiting broad tariffs when direct industrial policy is effective and when baseline capacity is already high. Journal: Int. J. of Trade and Global Markets Pages: 581-605 Issue: 5 Volume: 21 Year: 2025 Keywords: welfare costs; USA tariff policies; industrial policy; security gains; optimal tariff. File-URL: http://www.inderscience.com/link.php?id=150089 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:ids:ijtrgm:v:21:y:2025:i:5:p:581-605