International Journal of Markets and Business Systems
These articles have been peer-reviewed and accepted for publication 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 Articles will not be published until the final proofs are validated by their authors.
Forthcoming articles must be purchased for the purposes of research, teaching and private study only. These articles can be cited using the expression "in press". For example: Smith, J. (in press). Article Title. Journal Title.
Articles marked with this shopping trolley icon are available for purchase - click on the icon to send an email request to purchase.
International Journal of Markets and Business Systems (4 papers in press)
The law of increasing productivity 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 an improvement process whose macro effect is increasing levels of productivity and quality. This paper will try to 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. DOI: 10.1504/IJMABS.2018.10019168
Flow of materials in a market system: food security and environmental sustainability perspective by George K. Ngusale, Michael O. Oloko Abstract: Worldwide, there is a challenge of feeding growing population calling for discussions on flow of food materials in a market system. In Kenya, this discussion has been lacking that could aid in identification of opportunities for ensuring food security and environmental sustainability. This paper considered Kibuye market as a convergent area of food materials into Kisumu city. A survey was administered to market traders in Kibuye to ascertain products traded in market; their age and sex; source of products; quantity and types of wastes generated, among others. Results revealed majority of traders are women; highest level is primary education; most products are sourced outside Kisumu; most waste products are not sorted and recycled on disposal. This paper concludes that food security and environmental sustainability can be achieved through proper design of market sections; adopting preservation technologies; sensitisation and establishment of technology testing, demonstration and training sites. Keywords: market systems; food security; food wastage; environmental sustainability; Kisumu; Kibuye. DOI: 10.1504/IJMABS.2018.10019178
Does gold a safe haven during the crisis period? Explanation by behavioural finance for the GCC and BRIC markets 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 analysed 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; behavioural finance. DOI: 10.1504/IJMABS.2018.10019181
Formulation of marketing strategy for an automobile firm by multi-criteria decision-making tool by Das R. Gowri, R. Rajesh Abstract: A marketing strategy due to poor decision-making strategy can have significant impact on a firm's operational performance. The objective of this paper is to highlight a case study of an automotive firm in South India on reformulating an automotive firms marketing strategy. First, a causal analysis of the firm's poor performance is made and a strategic plan for revival was framed. Next, a 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. Keywords: automobile; marketing strategy; MCDM; ANP; TOPSIS; superdecision software; network model; segmentation strategy; advertisement. DOI: 10.1504/IJMABS.2018.10019188