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    Wyświetlanie 1-2 z 2
    Tytuł:
    Research on the maritime logistics pricing model of risk-averse retailer-dominated dual-channel supply chain
    Autorzy:
    Fang, Q.
    Tong, Z.
    Ren, L.
    Liu, A.
    Powiązania:
    https://bibliotekanauki.pl/articles/258648.pdf
    Data publikacji:
    2018
    Wydawca:
    Politechnika Gdańska. Wydział Inżynierii Mechanicznej i Okrętownictwa
    Tematy:
    dual channel
    risk-averse
    retailer-dominated
    supply chain
    Opis:
    Price decision is studied in a risk-averse retailer-dominated dual-channel supply chain, which consisting of one manufacturers and one retailer with both off-line and on-line channels. Firstly, two mean-variance models in centralized and decentralized supply chain are established. Secondly, the optimal solutions under the two decision modes are compared and analyzed. The results shows that the price of dual-channel of retailer decreased with the increase of retailers’ risk- aversion coefficient and the standard deviation of the fluctuation of market demand, while the wholesale price changes is on the contrary; in addition, when the market demand is greater than a certain value, the prices of dual channel are correspondingly higher in decentralized supply chain than in centralized supply chain, and vice versa. In addition, when the retailer’s risk aversion is in a certain interval, the expected utility of the whole supply chain is greater in centralized supply chain than in decentralized decision, and vice versa. Finally, a numerical example is given to verify the above conclusions.
    Źródło:
    Polish Maritime Research; 2018, S 2; 107-116
    1233-2585
    Pojawia się w:
    Polish Maritime Research
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
    Tytuł:
    Should risk-averse investors target the portfolios of socially responsible companies?
    Autorzy:
    Valls Martínez, María del Carmen
    Soriano Román, Rafael
    Martín Cervantes, Pedro Antonio
    Powiązania:
    https://bibliotekanauki.pl/articles/19322539.pdf
    Data publikacji:
    2022
    Wydawca:
    Instytut Badań Gospodarczych
    Tematy:
    corporate social responsibility
    stock market volatility
    market risk
    beta
    risk-averse investors
    Opis:
    Research background: Companies are required to implement Corporate Social Responsibility (CSR) policies to mitigate the adverse social and environmental effects of their activities and gain legitimacy in the eyes of society. Sustainability initiatives are costly for companies but, at the same time, they are important value-creation drivers. Retail and institutional investors are increasingly choosing portfolios based on CSR performance. However, the relationship between CSR and market beta has hardly been studied at all in the literature, and no direct comparison of the U.S. and European markets has been conducted. Purpose of the article: The two fundamental variables that define an investment are return and risk, and the appropriate risk-return combination depends on the profile of the investors. This research aims to analyze the relationship between CSR and market risk, understood as price volatility and measured by market beta in the U.S. and European markets. Methods: Companies listed in the S&P 500 and Euro Stoxx 300 indexes from 2015 to 2019 were examined using OLS regressions with instrumental variables (IV) and fixed effects panel data. Findings & value added: The results show that those companies with higher CSR have betas below the market index in the U.S. market as well as lower volatility, and are, therefore, more appropriate choices for risk-averse investors. However, this relationship was not confirmed in the European market. This difference may be justified by two reasons: 1) The non-adherence of the United States to the Kyoto Protocol, resulting in less strict legal regulations than in Europe; 2) In the U.S. market, betas are more aggressive, while in the European market they are more defensive, with little margin for reduction. This research contributes to the current state of knowledge by providing empirical evidence that social, environmental, and corporate governance sustainability practices reduce stock volatility in the U.S. capital market, which is highly relevant for private and institutional investors who make their investments based on moral criteria. The results are current and reliable since they cover a broad and recent period for two of the most important stock market indexes.
    Źródło:
    Oeconomia Copernicana; 2022, 13, 2; 439-474
    2083-1277
    Pojawia się w:
    Oeconomia Copernicana
    Dostawca treści:
    Biblioteka Nauki
    Artykuł
      Wyświetlanie 1-2 z 2

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