Search results for "crisis"
showing 10 items of 860 documents
Haven on Earth? Dynamic Connections between Gold and Stock Markets in Turbulent Times
2017
We find that exogenous structural shocks caused by terrorist attacks, wars, political turmoil and gold market specific events have a strong role to play in the analysis of dynamic relationships between gold and stock market returns. Our main finding is that the interaction between the gold market and stock market is much tighter than previously observed. Especially some of the gold market specific shocks have long lasting impacts also on the financial markets. Also some events, which may have been miss-interpreted as minor shocks previously, have in fact had significant impacts on both stock and gold markets. Furthermore, the dynamic correlations between all the analyzed financial sectors i…
Factors and Barriers of Implementing Early Warning, Support and Second Chance Support Systems for SMEs in the Baltic States
2021
COVID-19 creates insolvencies time bomb, even if economies are supported by the state. Following the liquidation or bankruptcy of a business, entrepreneurs in the EU mostly opt for a paid professional job rather than re-establishing their business [1]. Those entrepreneurs who re-establish their business after bankruptcy are experiencing faster growth than start-ups. The study points to significant current barriers and factors influencing the implementation of support, early warning and second chances in the Baltic States. There is a need to increase the competencies of both the businessmen and support providers on crisis management and the support already available in the broadest sense. By…
Another Look at Momentum Crashes
2015
This paper studies the profitability of a selection of prominent momentum-based strategies in the European Monetary Union. In contrast to past examples documenting the lack of profitability of unconditional price momentum in the most recent decade, the current research finds that unconditional price momentum yielded significant positive payoffs. There is evidence of option-like behavior for strategies based on intermediate past performance. Surprisingly, there is no such evidence for the momentum strategy based on recent past performance .
Trade credit and determinants of profitability in Europe. The case of the agri-food industry
2018
Abstract The objective of this paper is to analyse the effect that trade credit has on the determinants of profitability during the crisis period in Europe. We use panel data for a total of 24,177 European agri-food companies from 2010 to 2014. Among our main contributions, we highlight that we isolate the sector effect and study the country effect by separating the different policies and customs with respect to the granting of trade credit. The results confirm, in general, that trade credit affects profitability depending on the country and the characteristics of size, specificity, market power or reputation.
When brands get branded
2009
Recent perspectives on branding have claimed that consumers establish relationships with brands (Fournier, 1998). According to this view, one has also to consider that — similar to human relationships — transgressions may occur in such a relationship. Brand misconduct describes a brand's behaviour that consumers do not agree with, e.g. Coca-Cola's introduction of the so-called New Coke in the eighties. After an introduction and definition different forms of misconduct are distinguished. The possible consequences, how the company can react to brand misconduct and, ultimately, the implications for branding theory development are examined.
Do Financial Crises Moderate Entrepreneurial Recipes? A Comparative Fuzzy Analysis
2016
ABSTRACTThis study performs a fuzzy set qualitative comparative analysis (fsQCA) on entrepreneurial recipes. The research focuses on the moderating role of the 2007 financial crisis on the antecedents of entrepreneurship. Standard regressions analysis proves insufficient to uncover asymmetrical and complex relationships that explain the effect of credit constraints on new business. Empirical results on longitudinal data suggest that the crisis moderated entrepreneurial recipes in Spain. This research contributes to QCA analysis by studying moderation effects on time-series data.
Countering accusations with inoculation: The moderating role of consumer-company identification.
2013
Abstract Accusations of wrongdoing, baseless or justified, can severely tarnish a company's reputation. Once disseminated, even baseless accusations can persist and cause considerable damage for a company. This study examines the proactive crisis communication strategy of inoculating individuals against invalid accusations before they go viral. An experiment was conducted in a real world consumer context among members of an online consumer panel using an electronics discounter as the research stimulus. Expanding previous inoculation research on the role of value-relevant involvement for inoculation and the effectiveness of inoculation in the case of different preexisting attitudes, we find …
A new scenario for banks: glocal banking. A theoretical approach to propose for Europe
2017
In the early 1990s, with the development of information and communication technology (ICT), global banks began looking for a new world consisting of markets rather than relationships through the development of standardised services in the markets. However, in the early 21st century, with the collapse of the speculative bubble and the financial crisis of 2008, which caused financial instability and damaged the real economy, the entire banking system and the market itself suffered profound changes in profitability. Thus, began efforts to develop a new cultural relationship between banks and companies known as 'glocal banking'. These include: studying the needs of customers, planning and provi…
Regional banks in the global financial crisis: in search of new relationship models with local stakeholders
2017
The contribution attempts to find a confirmation of the theoretical statements presented by carrying out both a theoretical and an empirical analysis concerning credit institutions as a reference point for cooperative banks. We are referring to the so called 'popular banks' with their existing limits, compared with the rest of the Italian banking system, analysing the deposits, loans and bad debts in the years from 1995 to 2013; they have also proved to be more stable than the rest of the financial market during the last crisis (2008). Finally, in this era of globalisation it is highlighted how the regional bank model has to evolve by responding to the calls coming from the new competitive …
Low-cost trends in audit fees and their impact on service quality
2018
Abstract The 2008 financial crisis has transformed the business environment. The number of audited firms has fallen considerably since the crisis, leading to a reduction in the cost of auditing services as a result of fierce competition among auditors. This drop in audit fees is of great concern for audited firms because it may be correlated with a fall in audit service quality. Such a fall in quality ultimately harms the prestige of audited firms and therefore negatively affects their profits. Based on an application of fuzzy-set qualitative comparative analysis (fsQCA), this paper analyzes the quality of audit services following a drop in the fees charged by auditors. The factors analyzed…