Shenggen Fan, Emily EunYoung Cho and Christopher Rue
The paper is a synthesis of the 2017 Global Food Policy Report, and the purpose of this paper is to put into perspective the major food policy issues, developments, and decisions…
Abstract
Purpose
The paper is a synthesis of the 2017 Global Food Policy Report, and the purpose of this paper is to put into perspective the major food policy issues, developments, and decisions of 2016 and highlights challenges and opportunities for 2017.
Design/methodology/approach
The paper presents an overview of recent changes in the global context for food security and nutrition, and synthesizes research findings on major issues that arise in an urbanizing world. Based on its findings, the authors present policy recommendations and areas for future research for food security and nutrition.
Findings
Urbanization is linked with dietary changes to more energy-dense diets, and, the triple burden of malnutrition is increasing, particularly in rapidly urbanizing developing countries. Rural-urban linkages are key to improving food security and nutrition in both rural and urban areas, and traditional agricultural value chains linking farms to cities are undergoing a “quiet revolution.” Governance to enhance food security in the context of rapid urbanization faces various challenges in the institutional, administrative, and political realms, especially for the informal economy in developing countries. To address the unique challenges of urbanization, policies will need to create enabling environments, promote efficient and inclusive value chains, improve governance, and promote tailored programs. Research gaps that need to be filled include better, updated, and disaggregated data on food security and nutrition, as well as an enhanced understanding of enabling environments.
Originality/value
The paper highlights the increasingly relevant issue of rapid urbanization, especially in developing countries, for food security and nutrition, and synthesizes recent research in this area.
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Shenggen Fan, Emily EunYoung Cho and Christopher Rue
The purpose of this paper is to review China’s past returns in a period over the last 40 years to public agricultural and rural investments to highlight the importance for future…
Abstract
Purpose
The purpose of this paper is to review China’s past returns in a period over the last 40 years to public agricultural and rural investments to highlight the importance for future strategic investments in China’s agri-food system and in rural areas.
Design/methodology/approach
The paper synthesizes research findings from previous studies and reviews more recent trends. Based on the main findings, the authors provide forward-looking guidance for China’s investments agriculture and rural areas in the context of emerging global and domestic trends in agriculture, food security, and nutrition.
Findings
Public investments in the agricultural research and development (R&D), rural education, and rural infrastructure have been shown to have significant positive returns to agricultural growth as well as to reductions in poverty and regional inequality. Returns to overall agricultural GDP were highest for agricultural R&D, followed by education, roads, and telephones. Investment in education had the greatest returns to poverty reduction, as well as to nonfarm GDP and overall rural GDP. Investment in agricultural R&D had the second greatest returns in term of poverty reduction, and was also a close second in returns to nonfarm GDP and overall rural GDP following education. The rural infrastructure spending also saw significant returns to poverty reduction, largely through growth in agricultural and nonagricultural sectors. Investments in agriculture and rural areas will continue to be important, as China and the world face emerging challenges amidst a changing global landscape, particularly regarding climate change, rapid urbanization, nutritional imbalances, and food safety concerns. In addressing these emerging challenges, continued support for agricultural R&D and innovations can play a key role.
Originality/value
The paper highlights research findings on key investment areas that will be increasingly important for China’s agri-food system, and provides guidance in the context of emerging trends impacting food security and nutrition.
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In this paper, we show that there is a negative premium for MAX stocks in the Korean stock market. However, there is no evidence that the MAX effect overwhelms the effects of…
Abstract
In this paper, we show that there is a negative premium for MAX stocks in the Korean stock market. However, there is no evidence that the MAX effect overwhelms the effects of idiosyncratic risk. When we control for idiosyncratic risk, the negative relationship between extreme returns and future returns is less robust. Rather, the cross-effect of the extreme returns and the idiosyncratic risk factors explains the negative premium. Furthermore, our results are not fully explained by the exposure to the market timing and economic state. Overall, both the extreme return and idiosyncratic risk effects appear to coexist in the Korean stock market, but they are not independently.
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This paper aims to examine the time-varying preferences for environment, social and corporate governance (ESG) investing in an emerging market. The investors seek ESG-conscious…
Abstract
This paper aims to examine the time-varying preferences for environment, social and corporate governance (ESG) investing in an emerging market. The investors seek ESG-conscious investments during a positive economic outlook, reflecting the time-varying nature of ESG demand. Specifically, the author shows that high-ESG stocks have negative abnormal returns during bad economic times but turn into positive abnormal returns in good economic times. The author also suggests that the alpha spread between high-ESG and low-ESG stocks is larger in good economic times than in bad times. Furthermore, individual investors prefer high ESG scoring stocks in good economic times. The author highlights that this ESG premium is shaped by economic projection and the households' financial wealth.
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Norm O'Reilly, Caroline Paras, Madelaine Gierc, Alexander Lithopoulos, Ananya Banerjee, Leah Ferguson, Eun-Young Lee, Ryan E. Rhodes, Mark S. Tremblay, Leigh Vanderloo and Guy Faulkner
Framed by nostalgia marketing, this research draws upon lessons from ParticipACTION, a Canadian non-profit health promotion organization, to examine one of their most well-known…
Abstract
Purpose
Framed by nostalgia marketing, this research draws upon lessons from ParticipACTION, a Canadian non-profit health promotion organization, to examine one of their most well-known campaigns, Body Break with ParticipACTION, in order to assess the potential role for nostalgia-based marketing campaigns in sport participation across generational cohorts.
Design/methodology/approach
Exploratory sequential mixed methods involving two studies were completed on behalf of ParticipACTION, with the authors developing the research instruments and the collection of the data undertaken by research agencies. Study 1 was the secondary analysis of qualitative data from five focus groups with different demographic compositions that followed a common question guide. Study 2 was a secondary data analysis of a pan-Canadian online survey with a sample (n = 1,475) representative of the overall adult population that assessed awareness of, and attitudes toward, ParticipACTION, Body Break, physical activity and sport participation. Path analysis tested a proposed model that was based on previous research on attitudes, brand and loyalty. Further, multi-group path analyses were conducted to compare younger generations with older ones.
Findings
The results provide direction and understanding of the importance of nostalgia in marketing sport participation programs across generational cohorts. For instance, in the four parent-adult focus groups, unaided references as well as frequent and detailed comments regarding Body Break were observed. Similarly, Millennials reported that Body Break was memorable, Canadian and nostalgic, with a mix of positive and negative comments. The importance of nostalgia was supported sequentially via results from the national survey. For example, while 54.1% of the 40–54 age-group associated ParticipACTION positively with Body Break, so did 49.8% of the 25–39-year age group, most of whom were not born when the promotion ran. Further, brand resonance was found to explain 4% more variance in moderate-to-vigorous physical activity (MVPA), the proxy for sport participation, for younger people compared to older people.
Practical implications
Results provide direction to brands, properties and agencies around the use of nostalgia in sport marketing campaigns and sponsorship efforts. For brands seeking to sponsor sport properties to alter their image with potential consumers in a new market, associating with a sport property that many view as nostalgic could improve the impact of the campaign. On the sport property side, event managers and marketers should both identify existing assets that members or fans are nostalgic about, as well as consider building nostalgia into current and new properties they develop.
Originality/value
This research is valuable to the sport marketing and sponsorship literature through several contributions. First, the use of nostalgia marketing, and nostalgia in general, is novel in the sport marketing and sponsorship literature, with future research in nostalgia and sponsorship recommended. Second, the potential to adopt or adapt Body Break to other sport participation and physical activity properties is empirically supported. Finally, the finding that very effective promotions can have a long-lasting effect, both on those who experienced the campaigns as well as younger populations who only heard about it, is notable.