Forthcoming articles


International Journal of Markets and Business Systems


These articles have been peer-reviewed and accepted for publication in IJMABS, but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.


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International Journal of Markets and Business Systems (4 papers in press)


Regular Issues


  • The law of increasing productivity   Order a copy of this article
    by Piero Mella 
    Abstract: I propose the following Law of increasing productivity: the search for the highest levels of Return On Equity necessary to produce value for the shareholders and meet the expectations of the firms stakeholders gives rise to a improvement process whose macro effect is increasing levels of productivity and quality. This paper will try demonstrate that productivity is the basis of all productive systems, which are viewed as transformers of utility and value, since the search for maximum productive efficiency is necessary to reduce production costs and thus to produce value. After presenting a coherent frame of reference I shall examine the drivers of productivity and then move on to discuss the consequences of the continual growth in productivity. The paper concludes with a simple but significant model that seeks to illustrate the relationship between productivity and employment.
    Keywords: productivity; quality; productivity levers; intrinsic drivers; managerial drivers; extrinsic drivers; dynamics of productivity; world robot population; global production network; jobless economy;.

  • Flow of materials in a market system: food security and environmental sustainability perspective   Order a copy of this article
    by George Ngusale, Michael Oloko 
    Abstract: Worldwide, the challenge of feeding growing population is expected to reach 9 billion people in 2050; this requires a new approach capable of triggering discussions on flow of materials in a market system. In Kenya, a thorough understanding of market systems have been lacking that could aid in the identification of opportunities for ensuring food security and environmental sustainability. This paper considered Kibuye market in Kisumu city to aid in the understanding of market systems across the country. Understanding a market system entails focusing on food environment in terms of physical, social economic surrounding of market traders/actors. Therefore, a survey was administered to market traders in Kibuye to ascertain the following, among others: products traded in market; age & sex of traders; source of products; availability and quality of social supportive services; quantity and types of wastes generated. The results revealed that majority of the traders are women; most traders are youth and adults (ages ranged from 21 to 68 years); highest education of most traders is primary level; most products traded are sourced outside Kisumu; most waste products are not sorted or recycled on disposal. This paper thus concludes that understanding food environment in any market system is important as it eases formulation of market strategies to ensure minimal food wastage (food security) and environmental sustainability. This can be achieved through: proper design of market sections to ensure efficient sectional operations; adopting preservation technologies for perishable commodities; sensitization on waste management practices and establishment of technology testing, demonstration and training sites for handling of food materials and resulting waste.
    Keywords: market systems; food security; food wastage; environmental sustainability; Kisumu; Kibuye.

  • Does gold a safe haven during the crisis period? Explanation by behavioral finance for the GCC and BRIC markets   Order a copy of this article
    by Achraf Ghorbel 
    Abstract: This paper investigates the interaction between the volatilities of gold price, stock markets of the emerging countries (GCC and BRIC) and investors sentiment (VIX). Accordingly, we first examined the effect of the investors sentiment shocks on the volatility of gold price and stock markets and analyzed the dynamic correlation between them. Second, we evaluated the optimal weights, the optimal hedge and the hedging effectiveness ratios for gold-stock portfolio holdings. The empirical results showed that the shocks of investors sentiment significantly affect the volatilities of gold and emerging stock markets. Moreover, a sharp fall in the dynamic conditional correlation was observed between gold-VIX and gold-emerging stock market pairs during the period of stress. These results provide the orientation of investors to the gold market for hedging when the fear sentiment and the pessimism dominate the stock markets.
    Keywords: Gold; Hedge ratios; Portfolio diversification; GARCH models; behavioral finance.

    Abstract: Auto rickshaw is one of the most popular means of public transportation in urban India. A marketing strategy due to poor decision making strategy can have significant impact on a firms operational performance. The objective of this paper is to highlight a case study of a automotive firm in South India on reformulating a automotive firms marketing strategy. A structured project methodology was used to develop a strategic plan and formulate a marketing strategy. First, a causal analysis of the firms poor performance is made and a strategic plan for revival was framed. Next, marketing strategy was reformulated using multi-criteria decision making techniques ANP and TOPSIS. Superdecision software is used to undertake ANP analysis and subsequently TOPSIS analysis was done to rank the different marketing strategies. Four major marketing strategies differentiation strategy, market niche strategy, segmentation strategy and product variety marketing strategy were studied and discussed. Segmentation strategy is best suited for the firm. The sub-criteria which support the segmentation strategy are advertisement capabilities or promotion capabilities. Specific recommendations for segmentation strategy are made. The practical implementation of a systematic framework for the determination of a marketing strategy could easily be extended to the decision-making process for other managerial problems.
    Keywords: Marketing strategy; multi-criteria decision making; ANP; TOPSIS.