Business, Management and Economics Engineering

Consumer willingness to pay for Chaiya organic salted egg in smart label packaging: the case study in Surat Thani province

Mon, 26 Feb 2024 00:00:00 +0200

Purpose – This research studies the factors influencing willingness to pay and to evaluate the value of willingness to pay for Chaiya organic salted egg in smart label packaging among consumers in Surat Thani province.

Research methodology – The Conjoint Analysis method was used to analyse attribute factors based on literature reviews and related research. Data were collected through interviews and questionnaires from a consumer group aged 15 years and up, totalling 250 individuals.

Findings – The results revealed that the attribute of the product with the greatest impact on consumer satisfaction is the certification seal for organic authenticity. This attribute would lead to an increasing price of approximately 1.35 USD per box. If Chaiya organic salted egg have modern packaging with a color bar indicating the salt level and an organic certification seal, the price level of Chaiya organic salted egg was two times higher than general Chaiya organic salted egg. Consumers were willing to pay the highest price at 7.46 USD per box.

Research limitations – Having an excessive number of attribute sets may lead to confusion for interviewees when assigning scores to each set of attributes.

Practical implications – Conjoint Analysis is a tool suitable for measuring customer satisfaction towards various product attributes and developing new products to introduce into the market.

Originality/Value – the attribute of the product with the greatest impact on consumer satisfaction is the certification seal for organic authenticity.

The impact of the COVID-19 pandemic and the Russian invasion of Ukraine on Gold markets

Fisnik Morina, Valdrin Misiri, Saimir Dinaj, Simon Grima — Fri, 01 Mar 2024 00:00:00 +0200

Purpose – The study examines global Gold market performance and correlations between COVID-19, the Russian invasion, inflation, investors’ fear, asymmetric shocks, and the VIX (volatility index) impact on volatility.

Research Methodology – This research uses an econometric approach to analyse the impact of COVID-19 and the Russian invasion on Gold market performance – specifically the ARCH (Autoregressive Conditional Heteroskedasticity) – GARCH (Generalized Autoregressive Conditional Heteroskedasticity) Model and the Threshold-Asymmetric ARCH Model.

Findings – The study reveals that the COVID-19 pandemic and the Russian invasion of Ukraine have significantly impacted Gold market dynamics. Inflation significantly impacts volatility, emphasising the need for monitoring inflation rates. Investor fear increases demand during uncertainty periods, while negative shocks have a higher asymmetric effect. The VIX positively affects Gold market volatility, suggesting a perceived safe-haven status during increased volatility.

Research Limitations – Gaps in the data related to COVID-19 cases, geopolitical events, and Gold market performance could potentially introduce inaccuracies, biases or limitations to the analysis.

Practical Implications – The study’s findings have practical implications for investors, analysts, and policymakers involved in the financial investment of Gold markets.

Originality/Value – This study provides new insights into the relationships between inflation, investor fear, asymmetric shocks, and the impact of the VIX on Gold market dynamics during economic and geopolitical uncertainty.

Technology-based factors of globalization in market and transition economies. Is there a difference?

Ivana Petkovski, Aleksandra Fedajev, Ivan Mihajlović — Tue, 23 Apr 2024 00:00:00 +0300

Purpose – The global crises that emerged during the last two decades proved that economies that focus their development on demand are the most vulnerable during crises. However, development strategies depend on specific internal and external circumstances impacting development of particular country. In that sense, this research aims to identify how digitalization, science and technology, and ICT trade impact globalization in market and transition economies.

Research methodology – Authors employed the PLS-SEM methodology on available dataset for 32 European economies.

Findings – According to the findings, digitalization is the factor that has the highest positive impact on globalization in market economies, while ICT trade has the greatest positive impact on globalization in transition economies. Science and technological advancements have a diverse impact. The MGA results stressed out the difference between these groups even more clear.

Research limitations – The presented model does not consider country-level analysis of globalization.

Practical implications – The study is providing theoretical and empirical base for strategy and policy development in the globalization domain in line with economy character.

Originality – The value of the research is found in contributing to the globalization topic in market, and particularly in transition economie that lack empirical research in this field.

The moderating effects of statutory laws and regulations of risk factors and management in the Kingdom of Saudi Arabia construction industries

Muhammad Abdul Rehman, Md Sayuti Bin Ishak, Adekunle Qudus Adeleke — Tue, 23 Apr 2024 00:00:00 +0300

Purpose – Construction projects are fraught with hazards that have a detrimental impact on schedules, estimates, and quality. The project execution phase exposes contractors to internal and external hazards, either implicitly or explicitly. A project’s achievement is contingent on the proper handling of internal and external hazardous concerns. This study investigates the connection linking internal and external risk factors with risk management in Saudi Arabian contractors and the moderation role of government bylaws linking this connection.

Research methodology – This study investigates 303 Saudi Arabian contractors to explain the influence of internal hazards, external hazards, and governmental by-laws on risk management by applying the Partial Least Squares Structural Equation Modeling (PLS-SEM) method.

Findings – The outcome indicates that internal hazards (active leadership, team competency, and skills and effective communication), external hazards (technological, political, cultural, and economic factors), and government by-laws (also, its moderation role with external hazards) are positively connected with risk management resulting a moderate effect. Furthermore, the outcome also highlights that the moderating influence of government by-laws with internal risk factors is insignificant.

Research limitations – The current research model depicted 74.4% of the overall variation in risk management. Other latent variables can explain the 25.6% remaining overall variation in risk management which can be taken into account for future aspects of effective construction risk management.

Practical implications – This study raises the efficiency of Saudi Arabian contractors by improving project output delivery. This study made recommendations to boost risk management usage.

Originality/Value – This research was conducted for the first time in the Kingdom of Saudi Arabia, and it is an original work.

HR innovation in mediating entrepreneurial motivation in improving the competitive ability of Palu Fried Onions MSMEs

Andi Indriani Ibrahim, Margono Setiawan, Noermijati, Mintarti Rahayu — Tue, 30 Apr 2024 00:00:00 +0300

Purpose – This study aims to describe the competitive ability of MSMEs Palu Fried Onions (BGP) from the point of view of human resources, namely innovation and the influence of motivation.

Research methodology – This research was conducted on 141 active BGP MSMEs in Palu and tested using quantitative methods using SEM-PLS analysis testing.

Findings – The study results show that Human Resource Innovation is proven to affect the ability of the Palu Fried Onions MSMEs.

Research limitations – A limitation of this study is that it focuses solely on the competitive abilities of BGP MSMEs from the perspective of human resources, specifically innovation and motivation, and does not explore other potential factors that might influence their competitiveness.

Practical implications – The results of this study have the benefit of being practical considerations for driving BGP MSMEs to increase their competitiveness; besides that, the results of this study also expand the variation of the Diamond Model or the Diamond Model of production factors to be competitive.

Originality/Value – Rather than focusing solely on traditional factors, this research delves into the innovative realm of human resource innovation and motivation as key drivers of competitiveness.

Assessing the sustainability of advanced and developing countries: a different perspective

Inese Trusina, Elita Jermolajeva — Fri, 03 May 2024 00:00:00 +0300

Purpose – The research aim of the article is the analysis of advanced/developed and developing countries in the context of sustainable development, using invariant coordinate system in energy units, as well as the impact of structural changes in the economy affect the possibility of transition to sustainable development and creation post-industrial society.

Research methodology – In order to achieve the aim were applied the method of socio-economic systems power changes analyzing in the frame of structural economic Kaldor model of GDP and the energy flows models.

Finding – The advanced countries have seen a trend of “zero growth” and a decrease in useful energy production in the last 10 years. These countries have high labor productivity, technological level and diminishing potential for sustainable development. China is in the stage of “growth and development” and has great potential. Data calculated by the authors of the article correlates with the findings of the Kaldor model.

Research limitation – The initial interpretation of the calculated data of France, Germany, Japan, USA, European Union and China was made. Countries have been analyzed in the period from 1990 to 2019. The data of the Central Statistical Office of EU and the World Bank were used.

Practical implications – The results of the study can be used to further planning and design of transition to sustainable development for advanced and developing countries.

Originality/Value – within the framework of the approach, an invariant coordinates system in energy units is proposed and the main parameters for assessing the potential of growth and sustainable development for advanced countries were formed.