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Search results for: Japan market
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class="col-md-9 mx-auto"> <form method="get" action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="Japan market"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 3913</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: Japan market</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3913</span> Strategies to Accelerate Indonesian Halal Food Export to the Japan Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ferry%20Syarifuddin">Ferry Syarifuddin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The potential for growth in the Japanese halal industry is promising, especially for the export of processed food products, due to the significant increase in the Muslim population over the past decade. Japan is also the second largest destination for processed food export from developing countries. However, there has been a decline in the export of processed food from Indonesia, a Muslim-majority developing country, to Japan, dropping from $350 million in 2019 to $119 million in 2023. To address this issue, this study aims to assess the strengths, weaknesses, opportunities, and threats (SWOT) of Indonesian halal processed food products export to the Japanese market, investigate successful strategies employed by other countries and recommend the most prioritized strategy for exporting Indonesian halal processed food products to the Japan market. Our findings identify collaborating with Japan's food industry associations and trade organizations as the key strategy for successful export to the Japanese market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ANP-SWOT" title="ANP-SWOT">ANP-SWOT</a>, <a href="https://publications.waset.org/abstracts/search?q=export%20strategy" title=" export strategy"> export strategy</a>, <a href="https://publications.waset.org/abstracts/search?q=halal%20product" title=" halal product"> halal product</a>, <a href="https://publications.waset.org/abstracts/search?q=Japan%20market" title=" Japan market"> Japan market</a> </p> <a href="https://publications.waset.org/abstracts/185162/strategies-to-accelerate-indonesian-halal-food-export-to-the-japan-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/185162.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">47</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3912</span> Stock Market Developments, Income Inequality, Wealth Inequality</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Quang%20Dong%20Dang">Quang Dong Dang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines the possible effects of stock market developments by channels on income and wealth inequality. We use the Bayesian Multilevel Model with the explanatory variables of the market’s channels, such as accessibility, efficiency, and market health in six selected countries: the US, UK, Japan, Vietnam, Thailand, and Malaysia. We found that generally, the improvements in the stock market alleviate income inequality. However, stock market expansions in higher-income countries are likely to trigger income inequality. We also found that while enhancing the quality of channels of the stock market has counter-effects on wealth equality distributions, open accessibilities help reduce wealth inequality distributions within the scope of the study. In addition, the inverted U-shaped hypothesis seems not to be valid in six selected countries between the period from 2006 to 2020. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bayesian%20multilevel%20model" title="Bayesian multilevel model">Bayesian multilevel model</a>, <a href="https://publications.waset.org/abstracts/search?q=income%20inequality" title=" income inequality"> income inequality</a>, <a href="https://publications.waset.org/abstracts/search?q=inverted%20u-shaped%20hypothesis" title=" inverted u-shaped hypothesis"> inverted u-shaped hypothesis</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20market%20development" title=" stock market development"> stock market development</a>, <a href="https://publications.waset.org/abstracts/search?q=wealth%20inequality" title=" wealth inequality"> wealth inequality</a> </p> <a href="https://publications.waset.org/abstracts/160922/stock-market-developments-income-inequality-wealth-inequality" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/160922.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">108</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3911</span> Examining the Adoption Rate of the Japanese Method of Food Samples in the International Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Marwa%20Abdulsalam">Marwa Abdulsalam</a>, <a href="https://publications.waset.org/abstracts/search?q=Osamu%20Suzuki"> Osamu Suzuki</a>, <a href="https://publications.waset.org/abstracts/search?q=Wirawan%20Dony%20Dahana"> Wirawan Dony Dahana</a> </p> <p class="card-text"><strong>Abstract:</strong></p> One of the remarkable and unique industries in Japan is the food samples industry which can be noticed in most of the restaurants located around Japan. However, the market is getting saturated, which has pushed Japanese food sample manufacturers to start exploring new international markets. Most of the markets they explored were in the East Asian region, such as China or Korea. In this research, we examine the feasibility and the potential adoption rate of food samples in the international market outside the East Asian region. The main focus of this study is on the Saudi Arabian market. Nonetheless, since Saudi Arabia is a big market, the study results could possibly be applied to the international market as well. The study has conducted a quantitative survey to test the potential of the food samples industry in Saudi Arabia especially in 4 major cities: Jeddah, Mecca, Riyadh, and Dammam. The survey also tests the willingness to purchase, the average price point that the consumer is willing to pay for food samples, and the factors that drive restaurant owners to adopt the food samples system. The study created a correlation analysis between different factors, such as the geographic factor and the size of the restaurant factor, to examine the effect of different aspects on the purchasing decision. The study has found that the Japanese food samples system is predicted to adapt successfully in the Saudi Arabian market and in the international market alike due to the high importance of the food culture and the existence of the communication challenges that the food samples can solve. Additionally, the market survey stated in this study indicated that 83% of the restaurants’ managers are willing to adopt this system in their restaurants. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=food%20samples" title="food samples">food samples</a>, <a href="https://publications.waset.org/abstracts/search?q=innovative%20marketing" title=" innovative marketing"> innovative marketing</a>, <a href="https://publications.waset.org/abstracts/search?q=international%20market" title=" international market"> international market</a>, <a href="https://publications.waset.org/abstracts/search?q=marketing%20method" title=" marketing method"> marketing method</a> </p> <a href="https://publications.waset.org/abstracts/161000/examining-the-adoption-rate-of-the-japanese-method-of-food-samples-in-the-international-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/161000.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">110</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3910</span> Volatility Transmission between Oil Price and Stock Return of Emerging and Developed Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Algia%20Hammami">Algia Hammami</a>, <a href="https://publications.waset.org/abstracts/search?q=Abdelfatteh%20Bouri"> Abdelfatteh Bouri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this work, our objective is to study the transmission of volatility between oil and stock markets in developed (USA, Germany, Italy, France and Japan) and emerging countries (Tunisia, Thailand, Brazil, Argentina, and Jordan) for the period 1998-2015. Our methodology consists of analyzing the monthly data by the GARCH-BEKK model to capture the effect in terms of volatility in the variation of the oil price on the different stock market. The empirical results in the emerging countries indicate that the relationships are unidirectional from the stock market to the oil market. For the developed countries, we find that the transmission of volatility is unidirectional from the oil market to stock market. For the USA and Italy, we find no transmission between the two markets. The transmission is bi-directional only in Thailand. Following our estimates, we also noticed that the emerging countries influence almost the same extent as the developed countries, while at the transmission of volatility there a bid difference. The GARCH-BEKK model is more effective than the others versions to minimize the risk of an oil-stock portfolio. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=GARCH" title="GARCH">GARCH</a>, <a href="https://publications.waset.org/abstracts/search?q=oil%20prices" title=" oil prices"> oil prices</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20market" title=" stock market"> stock market</a>, <a href="https://publications.waset.org/abstracts/search?q=volatility%20transmission" title=" volatility transmission"> volatility transmission</a> </p> <a href="https://publications.waset.org/abstracts/64379/volatility-transmission-between-oil-price-and-stock-return-of-emerging-and-developed-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/64379.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">437</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3909</span> Searching for an Effective Marketing in the Food Supplement Industry in Japan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Michiko%20Miyamoto">Michiko Miyamoto</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The market for "functional foods" and "foods with functional claims" that are effective in maintaining and improving health, has expanded year by year due to the entry of major food and beverage manufacturers following the introduction of the specified health food system in 1991 in Japan. To bring health claims related products or services to the market, it is necessary to let consumers to learn about these products or services; an effective marketing through advertising are important. This research proposes a framework for an effective advertisement medium for the food supplement industry by using survey data of 2,500 people. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=functional%20foods" title="functional foods">functional foods</a>, <a href="https://publications.waset.org/abstracts/search?q=dietary%20supplements" title=" dietary supplements"> dietary supplements</a>, <a href="https://publications.waset.org/abstracts/search?q=marketing%20strategy" title=" marketing strategy"> marketing strategy</a>, <a href="https://publications.waset.org/abstracts/search?q=structural%20equation%20modeling" title=" structural equation modeling"> structural equation modeling</a> </p> <a href="https://publications.waset.org/abstracts/132121/searching-for-an-effective-marketing-in-the-food-supplement-industry-in-japan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/132121.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">144</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3908</span> The Effect of COVID-19 Transmission, Lockdown Measures, and Vaccination on Stock Market Returns</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Belhouchet%20Selma">Belhouchet Selma</a>, <a href="https://publications.waset.org/abstracts/search?q=Ben%20Amar%20Anis"> Ben Amar Anis</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We examine the impact of COVID-19 transmission, containment measures, and vaccination growth on daily stock market returns for the G7 countries (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) from January 22, 2020, to August 31, 2021, more than a year and a half after COVID-19. For this objective, we use panel pooled ordinary least squares regressions. Our findings indicate that the spread of the pandemic has a negative impact on the daily performance of the world's seven main stock markets. Government measures to improve stock market returns are no longer successful. Furthermore, our findings demonstrate that immunization efforts in G7 nations do not increase stock market performance in these countries. A variety of robustness tests back up our conclusions. Our findings have far-reaching implications for investors, governments, and regulators not only in the G7 countries but also in all developed countries and all countries globally. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=COVID-19" title="COVID-19">COVID-19</a>, <a href="https://publications.waset.org/abstracts/search?q=G7%20stock%20market" title=" G7 stock market"> G7 stock market</a>, <a href="https://publications.waset.org/abstracts/search?q=containment%20measures" title=" containment measures"> containment measures</a>, <a href="https://publications.waset.org/abstracts/search?q=vaccination" title=" vaccination"> vaccination</a> </p> <a href="https://publications.waset.org/abstracts/155046/the-effect-of-covid-19-transmission-lockdown-measures-and-vaccination-on-stock-market-returns" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/155046.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">100</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3907</span> Electricity Market Categorization for Smart Grid Market Testing</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rebeca%20Ramirez%20Acosta">Rebeca Ramirez Acosta</a>, <a href="https://publications.waset.org/abstracts/search?q=Sebastian%20Lenhoff"> Sebastian Lenhoff</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Decision makers worldwide need to determine if the implementation of a new market mechanism will contribute to the sustainability and resilience of the power system. Due to smart grid technologies, new products in the distribution and transmission system can be traded; however, the impact of changing a market rule will differ between several regions. To test systematically those impacts, a market categorization has been compiled and organized in a smart grid market testing toolbox. This toolbox maps all actual energy products and sets the basis for running a co-simulation test with the new rule to be implemented. It will help to measure the impact of the new rule, based on the sustainable and resilience indicators. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=co-simulation" title="co-simulation">co-simulation</a>, <a href="https://publications.waset.org/abstracts/search?q=electricity%20market" title=" electricity market"> electricity market</a>, <a href="https://publications.waset.org/abstracts/search?q=smart%20grid%20market" title=" smart grid market"> smart grid market</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20testing" title=" market testing"> market testing</a> </p> <a href="https://publications.waset.org/abstracts/131159/electricity-market-categorization-for-smart-grid-market-testing" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/131159.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">190</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3906</span> Comparison of Tourist Shopping Patterns in Korea, 2009-2015: A Case of China and Japan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Miju%20Choi">Miju Choi</a>, <a href="https://publications.waset.org/abstracts/search?q=Ava%20Seo"> Ava Seo</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Japan has been positioned as a major inbound market to Korea, accounting for about 31% of total inbound visitors until 2012. The percentage has sharply dropped each year since and remained in second place, reaching 13.33% in 2016. Meanwhile, China has been boosted as a major inbound market, reaching 46.79% in 2016. Chinese tourists mainly visit Korea with the major purpose of shopping. They consume Korean cosmetic/beauty products and clothes while Japanese tourists prefer to purchase healthy food such as ginseng and seaweed. This study aims to investigate and compare tourist shopping patterns across two major inbound markets, China and Japan. A quantitative approach using survey was applied from 2009 to 2016. Findings suggest Chinese visit Korea due to quality of product, value for money, and accessibility, and trust. Meanwhile, Japanese choose Korea as a shopping destination mainly due to convenience, affordability, and tourist attractions. Also, there were significant differences in shopping venues. For example, Japanese tourists prefer shopping at department stores while Chinese tourists prefer retail outlets and local markets. This study contributes to deeper understanding on two major inbound markets to Korea and suggests future marketing strategies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=tourist%20shopping%20patterns" title="tourist shopping patterns">tourist shopping patterns</a>, <a href="https://publications.waset.org/abstracts/search?q=Korea" title=" Korea"> Korea</a>, <a href="https://publications.waset.org/abstracts/search?q=China" title=" China"> China</a>, <a href="https://publications.waset.org/abstracts/search?q=Japan" title=" Japan"> Japan</a>, <a href="https://publications.waset.org/abstracts/search?q=historical%20data" title=" historical data"> historical data</a> </p> <a href="https://publications.waset.org/abstracts/90030/comparison-of-tourist-shopping-patterns-in-korea-2009-2015-a-case-of-china-and-japan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/90030.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">198</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3905</span> A Historical Overview of the General Implementation of the European Union Market Abuse Directive in the United Kingdom before the Brexit and Its Future Implications</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Howard%20Chitimira">Howard Chitimira</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The European Union (EU) was probably the first body to establish multinational anti-market abuse laws aimed at enhancing the detection and curbing of cross-border market abuse activities in its member states. Put differently, the EU Insider Dealing Directive was adopted in 1989 and was the first law that harmonised the insider trading ban among the EU member states. Thereafter, the European Union Directive on Insider Dealing and Market Manipulation (EU Market Abuse Directive) was adopted in a bid to improve and effectively discourage all the forms of market abuse in the EU’s securities and financial markets. However, the EU Market Abuse Directive had its own gaps and flaws. In light of this, the Market Abuse Regulation and the Criminal Sanctions for Market Abuse Directive were enacted to repeal and replace the EU Market Abuse Directive in 2016. The article examines the adequacy of the EU Market Abuse Directive and its implementation in the United Kingdom (UK) prior to the British exit (Brexit). This is done to investigate the possible implications of the Brexit referendum outcome of 23 June 2016 on the future regulation of market abuse in the UK. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=market%20abuse" title="market abuse">market abuse</a>, <a href="https://publications.waset.org/abstracts/search?q=insider%20trading" title=" insider trading"> insider trading</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20manipulation" title=" market manipulation"> market manipulation</a>, <a href="https://publications.waset.org/abstracts/search?q=European%20Union" title=" European Union"> European Union</a>, <a href="https://publications.waset.org/abstracts/search?q=United%20Kingdom" title=" United Kingdom"> United Kingdom</a> </p> <a href="https://publications.waset.org/abstracts/72376/a-historical-overview-of-the-general-implementation-of-the-european-union-market-abuse-directive-in-the-united-kingdom-before-the-brexit-and-its-future-implications" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/72376.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">251</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3904</span> Price Regulation in Domestic Market: Incentives to Collude in the Deregulated Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=S.%20Avdasheva">S. Avdasheva</a>, <a href="https://publications.waset.org/abstracts/search?q=D.%20Tsytsulina"> D. Tsytsulina</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In many regulated industries over the world price cap as a method of price regulation replaces cost-plus pricing. It is a kind of incentive regulation introduced in order to enhance productive efficiency by strengthening sellers’ incentives for cost reduction as well as incentives for more efficient pricing. However pricing under cap is not neutral for competition in the market. We consider influence on competition on the markets where benchmark for cap is chosen from when sellers are multi-market. We argue that the impact of price cap regulation on market competition depends on the design of cap. More specifically if cap for one (regulated) market depends on the price of the supplier in other (non-regulated) market, there is sub-type of price cap regulation (known in Russian tariff regulation as ‘netback minus’) that enhance incentives to collude in non-regulated market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=price%20regulation" title="price regulation">price regulation</a>, <a href="https://publications.waset.org/abstracts/search?q=competition" title=" competition"> competition</a>, <a href="https://publications.waset.org/abstracts/search?q=collusion" title=" collusion"> collusion</a> </p> <a href="https://publications.waset.org/abstracts/20966/price-regulation-in-domestic-market-incentives-to-collude-in-the-deregulated-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/20966.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">521</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3903</span> Analysis of the Predictive Performance of Value at Risk Estimations in Times of Financial Crisis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Alexander%20Marx">Alexander Marx</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=value%20at%20risk" title="value at risk">value at risk</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20market%20risk" title=" financial market risk"> financial market risk</a>, <a href="https://publications.waset.org/abstracts/search?q=banking" title=" banking"> banking</a>, <a href="https://publications.waset.org/abstracts/search?q=quantitative%20risk%20management" title=" quantitative risk management"> quantitative risk management</a> </p> <a href="https://publications.waset.org/abstracts/161900/analysis-of-the-predictive-performance-of-value-at-risk-estimations-in-times-of-financial-crisis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/161900.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">95</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3902</span> A Comparative Synopsis of the Enforcement of Market Abuse Prohibition in Australia and South Africa</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Howard%20Chitimira">Howard Chitimira</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In Australia, the market abuse prohibition is generally well accepted by the investing and non-investing public as well as by the government. This co-operative and co-ordinated approach on the part of all the relevant stakeholders has to date given rise to an increased awareness and commendable combating of market abuse activities in the Australian corporations, companies, and securities markets. It is against this background that this article seeks to comparatively explore the general enforcement approaches that are employed to combat market abuse (insider trading and market manipulation) activity in Australia and South Africa. In relation to this, the role of selected enforcement authorities and possible enforcement methods which may be learnt from both the Australian and South African experiences will be isolated where necessary for consideration by such authorities, especially, in the South African market abuse regulatory framework. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=insider%20trading" title="insider trading">insider trading</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20abuse" title=" market abuse"> market abuse</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20manipulation" title=" market manipulation"> market manipulation</a>, <a href="https://publications.waset.org/abstracts/search?q=regulation" title=" regulation"> regulation</a> </p> <a href="https://publications.waset.org/abstracts/64493/a-comparative-synopsis-of-the-enforcement-of-market-abuse-prohibition-in-australia-and-south-africa" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/64493.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">307</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3901</span> The Link between Money Market and Economic Growth in Nigeria: Vector Error Correction Model Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Uyi%20Kizito%20Ehigiamusoe">Uyi Kizito Ehigiamusoe </a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper examines the impact of money market on economic growth in Nigeria using data for the period 1980-2012. Econometrics techniques such as Ordinary Least Squares Method, Johanson’s Co-integration Test and Vector Error Correction Model were used to examine both the long-run and short-run relationship. Evidence from the study suggest that though a long-run relationship exists between money market and economic growth, but the present state of the Nigerian money market is significantly and negatively related to economic growth. The link between the money market and the real sector of the economy remains very weak. This implies that the market is not yet developed enough to produce the needed growth that will propel the Nigerian economy because of several challenges. It was therefore recommended that government should create the appropriate macroeconomic policies, legal framework and sustain the present reforms with a view to developing the market so as to promote productive activities, investments, and ultimately economic growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=economic%20growth" title="economic growth">economic growth</a>, <a href="https://publications.waset.org/abstracts/search?q=investments" title=" investments"> investments</a>, <a href="https://publications.waset.org/abstracts/search?q=money%20market" title=" money market"> money market</a>, <a href="https://publications.waset.org/abstracts/search?q=money%20market%20challenges" title=" money market challenges"> money market challenges</a>, <a href="https://publications.waset.org/abstracts/search?q=money%20market%20instruments" title=" money market instruments"> money market instruments</a> </p> <a href="https://publications.waset.org/abstracts/3189/the-link-between-money-market-and-economic-growth-in-nigeria-vector-error-correction-model-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/3189.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">344</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3900</span> Heterogeneous Intelligence Traders and Market Efficiency: New Evidence from Computational Approach in Artificial Stock Markets</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yosra%20Mefteh%20Rekik">Yosra Mefteh Rekik</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agent-based%20modeling" title="agent-based modeling">agent-based modeling</a>, <a href="https://publications.waset.org/abstracts/search?q=artificial%20stock%20market" title=" artificial stock market"> artificial stock market</a>, <a href="https://publications.waset.org/abstracts/search?q=heterogeneous%20expectations" title=" heterogeneous expectations"> heterogeneous expectations</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20stylized%20facts" title=" financial stylized facts"> financial stylized facts</a>, <a href="https://publications.waset.org/abstracts/search?q=computational%20finance" title=" computational finance"> computational finance</a> </p> <a href="https://publications.waset.org/abstracts/28310/heterogeneous-intelligence-traders-and-market-efficiency-new-evidence-from-computational-approach-in-artificial-stock-markets" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28310.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">438</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3899</span> Relationship between Creative Market Actor and Traditional Market Vendor toward a Sustainable Market Model in Jakarta, Indonesia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Galuh%20Pramesti">Galuh Pramesti</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In Indonesia, the rise of the middle class and consumer purchasing power has created a trend of shifting the traditional into a modern retail market. Development of the creative economy as an impact of the global economy has invaded the traditional market, due to low rents and minimum innovation, raising the issue of sustainability and urban resilience for survival of the traditional market. The study aims to understand the current market conditions by examining the challenges, resiliency, and identify the relationship between the traditional market and creative market. Using a single-case study approach as the research methodology, Santa Market has been chosen as the case study. It is a pilot project of collaboration between a traditional market and creative economy in Jakarta, Indonesia. The research was conducted as a qualitative study through in-depth interviews with the market vendors and the market management, besides a desk-based study of the leasing data and spatial analysis. The findings indicate traffic fluctuation as the main challenge. It is related to the tenant’s presence, rental fluctuation, gentrification, infrastructure, and market competition. Thus, the findings on resilience show a different response for creative and traditional markets. The traditional market’s response remained stable with minimum innovation, whereas the creative market relies on technological development. Regarding the relationship, supply and demand have become the main relationship occurring in Santa Market. It is then developed into the context of society and regulation. The conclusion provides recommendations for more solid regulation to protect the market tenants from stakeholder interests that can disrupt market viability, and a critical discussion on the concept of collaboration between traditional and creative markets. There is also a suggestion for further study on relation with the surroundings, to create a holistic study on how the collaboration can work well in the traditional market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=creative%20economy" title="creative economy">creative economy</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20sustainability" title=" market sustainability"> market sustainability</a>, <a href="https://publications.waset.org/abstracts/search?q=traditional%20market" title=" traditional market"> traditional market</a>, <a href="https://publications.waset.org/abstracts/search?q=urban%20resilience" title=" urban resilience"> urban resilience</a> </p> <a href="https://publications.waset.org/abstracts/82293/relationship-between-creative-market-actor-and-traditional-market-vendor-toward-a-sustainable-market-model-in-jakarta-indonesia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/82293.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">195</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3898</span> Unveiling Bengali Women’s Appreciation of Modernizing Japan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lopamudra%20Malek">Lopamudra Malek</a> </p> <p class="card-text"><strong>Abstract:</strong></p> It is known to all that Japan was closed till 1853 abruptly; Commodore Culbreath Matthew Perry has played a pivotal role in Japan’s exposure to modernization and facing the real world as an Asian entity. As Japan opened its door for the world, Indians, especially four women from Bengal, visited Japan. They were Hariprova Takeda, Sarojnalini Dutta, Santa Devi and Parul Devi. All of them were from different entities, but there were some bewildering similarities also in their depiction. How they penetrated their exposure to modernizing Japan is the motto of the research. It should be mentioned that two of them were directly influenced by Rabindranath Tagore. The methodology that has been followed while doing this research is depending on secondary source materials, like books, articles, etc. Japan was changing herself relentlessly towards modernization and westernization and these four women had witnessed the changing Japan and how the changing Japan has reflected in their write-ups and autobiography is the fundamental part of the research. As all of them were women, they had compared themselves with Japanese women. The finding of the research is, astonishingly, all of them found and comprehended Japan as a country where women were having more financial sovereignty and freedom of thought comparing to India in those days. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=empowerment" title="empowerment">empowerment</a>, <a href="https://publications.waset.org/abstracts/search?q=Japan" title=" Japan"> Japan</a>, <a href="https://publications.waset.org/abstracts/search?q=modernization" title=" modernization"> modernization</a>, <a href="https://publications.waset.org/abstracts/search?q=women" title=" women"> women</a> </p> <a href="https://publications.waset.org/abstracts/137360/unveiling-bengali-womens-appreciation-of-modernizing-japan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/137360.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">215</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3897</span> Mind Your Product-Market Strategy on Selecting Marketing Inputs: An Uncertainty Approach in Indian Context</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Susmita%20Ghosh">Susmita Ghosh</a>, <a href="https://publications.waset.org/abstracts/search?q=Bhaskar%20Bhowmick"> Bhaskar Bhowmick</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirms the number of factor retention using an alternative factor retention criterion, ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=uncertainty" title="uncertainty">uncertainty</a>, <a href="https://publications.waset.org/abstracts/search?q=market" title=" market"> market</a>, <a href="https://publications.waset.org/abstracts/search?q=orientation" title=" orientation"> orientation</a>, <a href="https://publications.waset.org/abstracts/search?q=competitor" title=" competitor"> competitor</a>, <a href="https://publications.waset.org/abstracts/search?q=demand" title=" demand "> demand </a> </p> <a href="https://publications.waset.org/abstracts/24877/mind-your-product-market-strategy-on-selecting-marketing-inputs-an-uncertainty-approach-in-indian-context" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/24877.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">590</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3896</span> A Probabilistic Theory of the Buy-Low and Sell-High for Algorithmic Trading</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Peter%20Shi">Peter Shi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Algorithmic trading is a rapidly expanding domain within quantitative finance, constituting a substantial portion of trading volumes in the US financial market. The demand for rigorous and robust mathematical theories underpinning these trading algorithms is ever-growing. In this study, the author establishes a new stock market model that integrates the Efficient Market Hypothesis and the statistical arbitrage. The model, for the first time, finds probabilistic relations between the rational price and the market price in terms of the conditional expectation. The theory consequently leads to a mathematical justification of the old market adage: buy-low and sell-high. The thresholds for “low” and “high” are precisely derived using a max-min operation on Bayes’s error. This explicit connection harmonizes the Efficient Market Hypothesis and Statistical Arbitrage, demonstrating their compatibility in explaining market dynamics. The amalgamation represents a pioneering contribution to quantitative finance. The study culminates in comprehensive numerical tests using historical market data, affirming that the “buy-low” and “sell-high” algorithm derived from this theory significantly outperforms the general market over the long term in four out of six distinct market environments. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=efficient%20market%20hypothesis" title="efficient market hypothesis">efficient market hypothesis</a>, <a href="https://publications.waset.org/abstracts/search?q=behavioral%20finance" title=" behavioral finance"> behavioral finance</a>, <a href="https://publications.waset.org/abstracts/search?q=Bayes%27%20decision" title=" Bayes' decision"> Bayes' decision</a>, <a href="https://publications.waset.org/abstracts/search?q=algorithmic%20trading" title=" algorithmic trading"> algorithmic trading</a>, <a href="https://publications.waset.org/abstracts/search?q=risk%20control" title=" risk control"> risk control</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20market" title=" stock market"> stock market</a> </p> <a href="https://publications.waset.org/abstracts/173432/a-probabilistic-theory-of-the-buy-low-and-sell-high-for-algorithmic-trading" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/173432.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">72</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3895</span> The Development of Chinese Film Market as Factor of Change in Global Hollywood</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Marcin%20Adamczak">Marcin Adamczak</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The growth of Chinese film market and its dynamic incomparable to any other historical phenomenon has already made China the second world market and potential future leader in 2-3 years period. The growing power of Chines box-office and its future prospects is then the crucial and potentially disturbing factor for persistence of global Hollywood reality. The paper is based on market statistical data. The main findings of the analysis are defining of essential obstacles for the development of Chinese market and its foreign expansion. However, the new strategies employed by the industry (acquisitions of cinema chains abroad, blockbuster made with the involvement of figures from Hollywood star system, coproduction ties within Pacific basin) could be a successful remedy for current shortcomings. The main factor for development will be wider economical framework and maintenance of growth pace. The future state of Chinese film market will be one of the main factors shaping global film culture and film market in following decades of XXI century. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=production%20studies" title="production studies">production studies</a>, <a href="https://publications.waset.org/abstracts/search?q=film%20market" title=" film market"> film market</a>, <a href="https://publications.waset.org/abstracts/search?q=Chinese%20film%20market" title=" Chinese film market"> Chinese film market</a>, <a href="https://publications.waset.org/abstracts/search?q=distribution" title=" distribution"> distribution</a> </p> <a href="https://publications.waset.org/abstracts/88504/the-development-of-chinese-film-market-as-factor-of-change-in-global-hollywood" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/88504.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">215</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3894</span> Analyzing the Impact of Global Financial Crisis on Interconnectedness of Asian Stock Markets Using Network Science</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jitendra%20Aswani">Jitendra Aswani</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In the first section of this study, impact of Global Financial Crisis (GFC) on the synchronization of fourteen Asian Stock Markets (ASM’s) of countries like Hong Kong, India, Thailand, Singapore, Taiwan, Pakistan, Bangladesh, South Korea, Malaysia, Indonesia, Japan, China, Philippines and Sri Lanka, has been analysed using the network science and its metrics like degree of node, clustering coefficient and network density. Then in the second section of this study by introducing the US stock market in existing network and developing a Minimum Spanning Tree (MST) spread of crisis from the US stock market to Asian Stock Markets (ASM) has been explained. Data used for this study is adjusted the closing price of these indices from 6th January, 2000 to 15th September, 2013 which further divided into three sub-periods: Pre, during and post-crisis. Using network analysis, it is found that Asian stock markets become more interdependent during the crisis than pre and post crisis, and also Hong Kong, India, South Korea and Japan are systemic important stock markets in the Asian region. Therefore, failure or shock to any of these systemic important stock markets can cause contagion to another stock market of this region. This study is useful for global investors’ in portfolio management especially during the crisis period and also for policy makers in formulating the financial regulation norms by knowing the connections between the stock markets and how the system of these stock markets changes in crisis period and after that. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=global%20financial%20crisis" title="global financial crisis">global financial crisis</a>, <a href="https://publications.waset.org/abstracts/search?q=Asian%20stock%20markets" title=" Asian stock markets"> Asian stock markets</a>, <a href="https://publications.waset.org/abstracts/search?q=network%20science" title=" network science"> network science</a>, <a href="https://publications.waset.org/abstracts/search?q=Kruskal%20algorithm" title=" Kruskal algorithm"> Kruskal algorithm</a> </p> <a href="https://publications.waset.org/abstracts/31876/analyzing-the-impact-of-global-financial-crisis-on-interconnectedness-of-asian-stock-markets-using-network-science" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/31876.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">424</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3893</span> Analytical Approach to Reinsurance in Algeria as an Emerging Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nesrine%20Bouzaher">Nesrine Bouzaher</a>, <a href="https://publications.waset.org/abstracts/search?q=Okba%20Necira"> Okba Necira</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore the national economy needs to develop the insurance market in order to support the investments, externally and internally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance; market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Algerian%20reinsurance%20data" title="Algerian reinsurance data">Algerian reinsurance data</a>, <a href="https://publications.waset.org/abstracts/search?q=demand%20trend%20of%20Algerian%20reinsurance" title=" demand trend of Algerian reinsurance"> demand trend of Algerian reinsurance</a>, <a href="https://publications.waset.org/abstracts/search?q=reinsurance" title=" reinsurance"> reinsurance</a>, <a href="https://publications.waset.org/abstracts/search?q=reinsurance%20market" title=" reinsurance market"> reinsurance market</a> </p> <a href="https://publications.waset.org/abstracts/20689/analytical-approach-to-reinsurance-in-algeria-as-an-emerging-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/20689.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">377</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3892</span> Consumer Market for Georgian Hazelnut and the Strategy to Improve Its Competitiveness </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20Chavleishvili">M. Chavleishvili</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper presents the trends of Georgian hazelnut market development and analyses the competitive advantages which will help Georgia to enter international hazelnut market using modern technologies. The history of hazelnut crop development and hazelnut species in Georgia are discussed. For hazelnut supply analysis trends in hazelnut production are considered, trends in export and import development is evaluated, domestic hazelnut market is studied and analysed based on expert interviews and initial accounting materials. In order to achieve and strengthen its position in international market, potential advantages and disadvantages of Georgian hazelnut are revealed, analysis of export and import possibilities of hazelnut is presented. Recommendations are developed based on the conclusions, which are made through identifying the key factors that hinder development of Georgian hazelnut market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=hazelnut%20market" title="hazelnut market">hazelnut market</a>, <a href="https://publications.waset.org/abstracts/search?q=hazelnut%20export%20and%20import" title=" hazelnut export and import"> hazelnut export and import</a>, <a href="https://publications.waset.org/abstracts/search?q=competitiveness%20of%20hazelnut" title=" competitiveness of hazelnut"> competitiveness of hazelnut</a> </p> <a href="https://publications.waset.org/abstracts/26659/consumer-market-for-georgian-hazelnut-and-the-strategy-to-improve-its-competitiveness" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/26659.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">437</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3891</span> Analytical Approach to Reinsurance in Algeria as an Emerging Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Necira%20Okba">Necira Okba</a>, <a href="https://publications.waset.org/abstracts/search?q=Nesrine%20Bouzaher"> Nesrine Bouzaher</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The financial aspect of the Algerian economy is part of all sectors that have undergone great changes these two last decades; the goal is to enable economic mechanisms for real growth. Insurance is an indispensable tool for stabilizing these mechanisms. Therefore, the national economy needs to develop the insurance market in order to support the investments, externally and intern ally; it turns out that reinsurance is one of the area which could prove their performance in several markets mainly emerging ones. The expansion of reinsurance in the domestic market is the preoccupation of this work, focusing on factors that could enhance the demand of reinsurance in the Algerian market. This work will be based on an analytical research of the economic contribution of the reinsurance and it’s collusion with insurance market, then it will be necessary to provide an overview of the product in the national emerging market, finally we will try to investigate on the factors that could enhance the demand in the national reinsurance market so as to determine the potential of Algeria in this area. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Algerian%20reinsurance%20data" title="Algerian reinsurance data">Algerian reinsurance data</a>, <a href="https://publications.waset.org/abstracts/search?q=demand%20trend%20of%20Algerian%20reinsurance" title=" demand trend of Algerian reinsurance"> demand trend of Algerian reinsurance</a>, <a href="https://publications.waset.org/abstracts/search?q=reinsurance" title=" reinsurance"> reinsurance</a>, <a href="https://publications.waset.org/abstracts/search?q=reinsurance%20market" title=" reinsurance market"> reinsurance market</a> </p> <a href="https://publications.waset.org/abstracts/22637/analytical-approach-to-reinsurance-in-algeria-as-an-emerging-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/22637.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">343</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3890</span> Microeconomic Consequences of the Housing Market Deformation in the Selected Region of the Czech Republic</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Hana%20Jan%C3%A1%C4%8Dkov%C3%A1">Hana Janáčková</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=housing" title="housing">housing</a>, <a href="https://publications.waset.org/abstracts/search?q=housing%20market" title=" housing market"> housing market</a>, <a href="https://publications.waset.org/abstracts/search?q=microeconomic%20consequences" title=" microeconomic consequences"> microeconomic consequences</a>, <a href="https://publications.waset.org/abstracts/search?q=deformation" title=" deformation"> deformation</a> </p> <a href="https://publications.waset.org/abstracts/64218/microeconomic-consequences-of-the-housing-market-deformation-in-the-selected-region-of-the-czech-republic" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/64218.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">399</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3889</span> Mean and Volatility Spillover between US Stocks Market and Crude Oil Markets</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Kamel%20Malik%20Bensafta">Kamel Malik Bensafta</a>, <a href="https://publications.waset.org/abstracts/search?q=Gervasio%20Bensafta"> Gervasio Bensafta</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purpose of this paper is to investigate the relationship between oil prices and socks markets. The empirical analysis in this paper is conducted within the context of Multivariate GARCH models, using a transform version of the so-called BEKK parameterization. We show that mean and uncertainty of US market are transmitted to oil market and European market. We also identify an important transmission from WTI prices to Brent Prices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=oil%20volatility" title="oil volatility">oil volatility</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20markets" title=" stock markets"> stock markets</a>, <a href="https://publications.waset.org/abstracts/search?q=MGARCH" title=" MGARCH"> MGARCH</a>, <a href="https://publications.waset.org/abstracts/search?q=transmission" title=" transmission"> transmission</a>, <a href="https://publications.waset.org/abstracts/search?q=structural%20break" title=" structural break"> structural break</a> </p> <a href="https://publications.waset.org/abstracts/10187/mean-and-volatility-spillover-between-us-stocks-market-and-crude-oil-markets" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/10187.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">486</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3888</span> Testing the Weak Form Efficiency of Islamic Stock Market: Empirical Evidence from Indonesia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Herjuno%20Bagus%20Wicaksono">Herjuno Bagus Wicaksono</a>, <a href="https://publications.waset.org/abstracts/search?q=Emma%20Almira%20Fauni"> Emma Almira Fauni</a>, <a href="https://publications.waset.org/abstracts/search?q=Salma%20Amelia%20Dina"> Salma Amelia Dina</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=efficient%20market%20hypothesis" title="efficient market hypothesis">efficient market hypothesis</a>, <a href="https://publications.waset.org/abstracts/search?q=Indonesia%20sharia%20stock%20index" title=" Indonesia sharia stock index"> Indonesia sharia stock index</a>, <a href="https://publications.waset.org/abstracts/search?q=random%20walk" title=" random walk"> random walk</a>, <a href="https://publications.waset.org/abstracts/search?q=weak%20form%20efficiency" title=" weak form efficiency"> weak form efficiency</a> </p> <a href="https://publications.waset.org/abstracts/61095/testing-the-weak-form-efficiency-of-islamic-stock-market-empirical-evidence-from-indonesia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/61095.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">460</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3887</span> The Market Structure Simulation of Heterogenous Firms</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Arunas%20Burinskas">Arunas Burinskas</a>, <a href="https://publications.waset.org/abstracts/search?q=Manuela%20Tvaronavi%C4%8Dien%C4%97"> Manuela Tvaronavičienė</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=market" title="market">market</a>, <a href="https://publications.waset.org/abstracts/search?q=structure" title=" structure"> structure</a>, <a href="https://publications.waset.org/abstracts/search?q=simulation" title=" simulation"> simulation</a>, <a href="https://publications.waset.org/abstracts/search?q=heterogenous%20firms" title=" heterogenous firms"> heterogenous firms</a> </p> <a href="https://publications.waset.org/abstracts/144488/the-market-structure-simulation-of-heterogenous-firms" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/144488.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">149</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3886</span> From Modern to Contemporary Art: Transformations of Art Market in Istanbul</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Cem%20Ozatalay">Cem Ozatalay</a>, <a href="https://publications.waset.org/abstracts/search?q=Senem%20Ornek"> Senem Ornek</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Artprice Contemporary Art Market Annual Report 2014 notices that Istanbul, with its art market volume of $3.6 million has become the first city of the Middle East and North Africa region and the 14th city of the World. Indeed, the period 2004–2014 has been significant in terms of the growth of the art market, during which the majority of contemporary art galleries and museums in Istanbul was inaugurated. This boom means that with the joining of new agents, the structure of the art market has dramatically changed. To use Nathalie Heinich’s terminology, in the current art field, three art genres – namely classical art, modern art and contemporary art – coexist, but in the case of Istanbul, such as many art cities in the world, the latter genre has become increasingly dominant. This presentation aims to show how the power shifts away from the classical art agents to contemporary art agents, and the effects produced by the conflicts between the old and new agents of current art field. Based on the data obtained from an ongoing field research in Istanbul among the art market agents such as art dealers, curators, art critics and artists, it will be shown that even if the agents of different art genres are in conflict with each other, there is, at the same time, a continuum between the three art worlds. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=contemporary%20art%20market" title="contemporary art market">contemporary art market</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20sociology%20of%20art" title=" economic sociology of art"> economic sociology of art</a>, <a href="https://publications.waset.org/abstracts/search?q=Istanbul%20art%20market" title=" Istanbul art market"> Istanbul art market</a>, <a href="https://publications.waset.org/abstracts/search?q=structure%20of%20the%20art%20field%20in%20Istanbul" title=" structure of the art field in Istanbul "> structure of the art field in Istanbul </a> </p> <a href="https://publications.waset.org/abstracts/64297/from-modern-to-contemporary-art-transformations-of-art-market-in-istanbul" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/64297.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">255</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3885</span> The Relationships between Market Orientation and Competitiveness of Companies in Banking Sector</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Patrik%20Jangl">Patrik Jangl</a>, <a href="https://publications.waset.org/abstracts/search?q=Milan%20Mikul%C3%A1%C5%A1t%C3%ADk"> Milan Mikuláštík</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objective of the paper is to measure and compare market orientation of Swiss and Czech banks, as well as examine statistically the degree of influence it has on competitiveness of the institutions. The analysis of market orientation is based on the collecting, analysis and correct interpretation of the data. Descriptive analysis of market orientation describe current situation. Research of relation of competitiveness and market orientation in the sector of big international banks is suggested with the expectation of existence of a strong relationship. Partially, the work served as reconfirmation of suitability of classic methodologies to measurement of banks’ market orientation. Two types of data were gathered. Firstly, by measuring subjectively perceived market orientation of a company and secondly, by quantifying its competitiveness. All data were collected from a sample of small, mid-sized and large banks. We used numerical secondary character data from the international statistical financial Bureau Van Dijk’s BANKSCOPE database. Statistical analysis led to the following results. Assuming classical market orientation measures to be scientifically justified, Czech banks are statistically less market-oriented than Swiss banks. Secondly, among small Swiss banks, which are not broadly internationally active, small relationship exist between market orientation measures and market share based competitiveness measures. Thirdly, among all Swiss banks, a strong relationship exists between market orientation measures and market share based competitiveness measures. Above results imply existence of a strong relation of this measure in sector of big international banks. A strong statistical relationship has been proven to exist between market orientation measures and equity/total assets ratio in Switzerland. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=market%20orientation" title="market orientation">market orientation</a>, <a href="https://publications.waset.org/abstracts/search?q=competitiveness" title=" competitiveness"> competitiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=marketing%20strategy" title=" marketing strategy"> marketing strategy</a>, <a href="https://publications.waset.org/abstracts/search?q=measurement%20of%20market%20orientation" title=" measurement of market orientation"> measurement of market orientation</a>, <a href="https://publications.waset.org/abstracts/search?q=relation%20between%20market%20orientation%20and%20competitiveness" title=" relation between market orientation and competitiveness"> relation between market orientation and competitiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=banking%20sector" title=" banking sector"> banking sector</a> </p> <a href="https://publications.waset.org/abstracts/9587/the-relationships-between-market-orientation-and-competitiveness-of-companies-in-banking-sector" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/9587.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">476</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3884</span> Co-Movement between Financial Assets: An Empirical Study on Effects of the Depreciation of Yen on Asia Markets</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yih-Wenn%20Laih">Yih-Wenn Laih</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In recent times, the dependence and co-movement among international financial markets have become stronger than in the past, as evidenced by commentaries in the news media and the financial sections of newspapers. Studying the co-movement between returns in financial markets is an important issue for portfolio management and risk management. The realization of co-movement helps investors to identify the opportunities for international portfolio management in terms of asset allocation and pricing. Since the election of the new Prime Minister, Shinzo Abe, in November 2012, the yen has weakened against the US dollar from the 80 to the 120 level. The policies, known as “Abenomics,” are to encourage private investment through a more aggressive mix of monetary and fiscal policy. Given the close economic relations and competitions among Asia markets, it is interesting to discover the co-movement relations, affected by the depreciation of yen, between stock market of Japan and 5 major Asia stock markets, including China, Hong Kong, Korea, Singapore, and Taiwan. Specifically, we devote ourselves to measure the co-movement of stock markets between Japan and each one of the 5 Asia stock markets in terms of rank correlation coefficients. To compute the coefficients, return series of each stock market is first fitted by a skewed-t GARCH (generalized autoregressive conditional heteroscedasticity) model. Secondly, to measure the dependence structure between matched stock markets, we employ the symmetrized Joe-Clayton (SJC) copula to calculate the probability density function of paired skewed-t distributions. The joint probability density function is then utilized as the scoring scheme to optimize the sequence alignment by dynamic programming method. Finally, we compute the rank correlation coefficients (Kendall's and Spearman's ) between matched stock markets based on their aligned sequences. We collect empirical data of 6 stock indexes from Taiwan Economic Journal. The data is sampled at a daily frequency covering the period from January 1, 2013 to July 31, 2015. The empirical distributions of returns indicate fatter tails than the normal distribution. Therefore, the skewed-t distribution and SJC copula are appropriate for characterizing the data. According to the computed Kendall’s τ, Korea has the strongest co-movement relation with Japan, followed by Taiwan, China, and Singapore; the weakest is Hong Kong. On the other hand, the Spearman’s ρ reveals that the strength of co-movement between markets with Japan in decreasing order are Korea, China, Taiwan, Singapore, and Hong Kong. We explore the effects of “Abenomics” on Asia stock markets by measuring the co-movement relation between Japan and five major Asia stock markets in terms of rank correlation coefficients. The matched markets are aligned by a hybrid method consisting of GARCH, copula and sequence alignment. Empirical experiments indicate that Korea has the strongest co-movement relation with Japan. The strength of China and Taiwan are better than Singapore. The Hong Kong market has the weakest co-movement relation with Japan. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=co-movement" title="co-movement">co-movement</a>, <a href="https://publications.waset.org/abstracts/search?q=depreciation%20of%20Yen" title=" depreciation of Yen"> depreciation of Yen</a>, <a href="https://publications.waset.org/abstracts/search?q=rank%20correlation" title=" rank correlation"> rank correlation</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20market" title=" stock market"> stock market</a> </p> <a href="https://publications.waset.org/abstracts/43411/co-movement-between-financial-assets-an-empirical-study-on-effects-of-the-depreciation-of-yen-on-asia-markets" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/43411.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">231</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">‹</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=5">5</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=6">6</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=7">7</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=8">8</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=9">9</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=10">10</a></li> <li class="page-item disabled"><span class="page-link">...</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=130">130</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=131">131</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=Japan%20market&page=2" rel="next">›</a></li> </ul> </div> </main> 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