Farmers’ motivations,risk perceptions and risk management strategies in a developing economy: Bangladesh experience

Aquaculture farmers’ risk perceptions and risk management strategies have still received little attention in agricultural research. Therefore, an exploratory study has been undertaken to provide empirical insight into Bangladeshi coastal shrimp farmers’ risk perceptions and risk management responses. Data from our study show that 95% of farmers have no formal training in shrimp aquaculture. Shrimp farmers’ cooperative societies operate in only 13.3% of the studied areas and only 15% of shrimp farmers are involved with these cooperative societies. The results reveal that shrimp diseases, price and availability of quality shrimp seeds, exploitation by intermediaries and uncertainty about the future demand for shrimp in foreign markets are perceived as the most important sources of risk. On the other hand, prevention of disease, timely supply of shrimp seeds, elimination of middlemen from the supply chain and farm management training are considered among the best methods to manage the risks in the shrimp‐farming business. We also observe some disparities in farmers’ perceptions. For instance, farmers mentioned that removal of influence of middlemen from supply chain is essential for the betterment of their business. However, they did not consider market monitoring, direct contract with processors and improved marketing facilities as important risk management strategies, although these factors play a significant role in reducing the influence of intermediaries and private money lenders.     

The Twin Crises: Determinants of Banking and Currency Crises in the Turkish Economy

Several twin crises occurred in the Turkish economy in the last three decades. In this article, we aim to analyze the link between banking and currency crises and to illustrate the essential determinants of these twin crises by developing a multivariate logit model for the period 1990–2013. The empirical findings show that Turkish currency crises are mainly due to excessive fiscal deficits, rises in short-term external debt, overvaluation of Turkish lira, and external adverse shocks; banking crises are primarily caused by excessive money supplies and bank short positions. The empirical findings also indicate that banking crises lead to currency crises, and vice versa.     

Mapping the consumer‐subject in advertising

Traditionally marketing communication‐or more specifically advertising‐has been framed in terms of products/ services, needs and wants of consumers as if these were real givens, existing independently of the forms and acts of marketing communication itself. From this perspective, advertising is merely seen as a purveyor of information about products/services/needs between producers and consumers but hardly as actively implicated in shaping, not only the relation between the processes of production and those of consumption, but also the conception of the consumer‐subject. This paper makes a brief diachronic account of advertising with a view to highlighting how the consumer‐subject is represented. Whereas early advertising conceives of the consumer‐subject as a “rational” decision‐maker, aware of its needs and desire, more recent advertising constitutes the consumer‐subject in a hyperreal, dream‐like world, which seduces and spellbinds it.     

Evaluating the Effect of Affinity Card Programs on Customer Profitability Using Propensity Score Matching

Affinity card programs have become popular in recent times and account for one fifth of all credit card accounts. There is no research that links affinity card programs to customer profitability. Moreover, little is known about what type of affinity card programs would lead to higher profit. Using a large proprietary dataset we answer the above questions. We also apply propensity score matching, a relatively new technique, to control for selection bias in addressing the above issues. Contrary to previous research and common belief, we show that affinity card customers are no more profitable than non-affinity card holders. We also show that sports-based affinity programs are the least profitable and surprisingly, alumni-based affinity programs also do poorly relative to other types of affinity. On the positive side, affinity card customers are lower risk and help to lower the average risk of the portfolio of customers.     

Examining shopping mall consumer decision-making styles,satisfaction and purchase intention

Understanding consumer decision-making (CDM) styles is essential for market segmentation, positioning and crafting marketing strategies within a market. Few studies have examined the structural relationship among decision-making styles that consumers exhibit during mall shopping, level of satisfaction and purchase intention. The purpose of this study was to examine CDM styles as the antecedents and predictors of level of satisfaction and purchase intention. Based on the Consumer Styles Inventory, eight CDM styles that individual exhibit during shopping mall activities are proposed in terms of utilitarian and hedonic perspectives. We hypothesize these eight CDM styles as a set of predictors of customer satisfaction and purchase intention. A total of 327 valid paper-and-pencil questionnaires were collected from several shopping malls in Kuala Lumpur, Malaysia. Partial least squares (PLS) path modelling approach, a structural equation modelling (PLS-SEM) technique was performed to test the proposed structural relationships. The empirical assessment supports that hedonic shopping styles consumers that exhibit high level of habitual, brand consciousness, fashion consciosness, recreational conscious style have lower levels of satisfaction and purchase intention during mall shopping while novelty and fashion conscious style consumers have lower level of satisfaction but do not unveil lower purchase intention. Utilitarian shopping styles consumers that exhibit high level of price conscious, confused by overchoice and high-quality conscious style have higher levels of satisfaction while impulsive/careless shoppers do not; and while price conscious, impulsive/careless, confused by overchoice consumers have higher levels of purchase intention but the high-quality conscious consumers do not unveil higher purchase intention. Further, there is a positive relationship between satisfaction and purchase intention. The practical and managerial implications are discussed.     

Hydrochloric acid tank explosion

Explosions in hydrogen chloride storage tanks are very rare. However, we have experienced one. The explosion was so powerful that the tank with a capacity 250 kL, 60% filled with 33% HCL, took off from the ground went up to 8–9 m high in air and landed around 50 m away. The contents of the tank sprayed all over the nearby area. Though the tank was surrounded by other plants and equipment, fortunately, it landed in a barren area. This averted loss of life and property that would have otherwise resulted. © 2009 American Institute of Chemical Engineers Process Saf Prog, 2009     

Exports-led growth or growth-led exports in the case of China and Pakistan: An empirical investigation from the ARDL and Granger causality approach

There are various factors that determine and influence economic growth. From these, one of the most significant factors is exports, which play a vital role in the economic growth and development of a country. Trade theory states that exports enhance the growth of a domestic economy in various ways. This study attempts to empirically investigate the existence of the exports-led-growth (ELG) or growth-led-exports (GLE) hypotheses by adopting comparatively more contemporary techniques as compared to earlier classical approaches for China and Pakistan for the period of 1980 to 2015. The study found the existence of ELG for both China and Pakistan.     

Do banking system transparency and competition affect nonperforming loans in the Chinese banking sector?

The increasing importance of transparency practices and the improving status of bank competition in China are rarely explored in nonperforming loans (NPLs) literature. Thus, the purpose of this study is to examine banking system transparency and competition along with macroeconomic and bank-specific variables as determinants of NPL. We use the two-step system GMM dynamic panel model for Chinese banks based on annual data from 2000 to 2014. Our results indicate that high transparency in the Chinese banking system decreases poor-quality assets but not in the case of government-owned banks, whereas increase in competition increases NPL. Moreover, we find mixed results in the context of macroeconomics and bank-specific variables. Our study has practical implications in risk management practices and macro prudential policies.