Lorenzo Parola and Francesco Falco
Analysis of the guidelines on investment recommendations (“Guidelines”) issued by the Italian Securities and Exchange Commission (“CONSOB”) on the application of the EU Regulation…
Abstract
Purpose
Analysis of the guidelines on investment recommendations (“Guidelines”) issued by the Italian Securities and Exchange Commission (“CONSOB”) on the application of the EU Regulation No. 596/2014, the Market Abuse Regulation (“MAR”).
Design/methodology/approach
This article focuses on the Guidelines issued with the aim to facilitate the identification of unlawful conducts of firms and individuals disseminating investment recommendations on financial instruments or issuers. In particular, the definition of investment recommendations as per MAR, the duties of persons providing such information and also the investigative powers conferred to CONSOB in order to prevent the dissemination of false or misleading information to the public are examined in detail.
Findings
The Guidelines are an important interpretative tool for firms and individuals providing investment recommendations on financial instruments or issuers. They further determine the duties deriving from MAR and the investigative powers attributed to CONSOB.
Originality/value
This article provides useful information on MAR and practical guidance on the applicability of this regulation to persons and firms providing investment recommendations on financial instruments or issuers.
Details
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Nofie Iman, Muhammad Tafdhil Amanda and Jovita Angela
The authors have faced rapid technological developments over the past few years. Still, the authors face challenges of maritime supply chain inefficiency, high costs and the low…
Abstract
Purpose
The authors have faced rapid technological developments over the past few years. Still, the authors face challenges of maritime supply chain inefficiency, high costs and the low competitiveness of Indonesian ports. In line with the flow of this research, the purpose of this paper is to conceptualise best practices to improve port connectivity, which impacts improving maritime logistics capabilities in Indonesia that are relevant to the current situation.
Design/methodology/approach
The authors utilise surveys and interviews as a data collection method, where several sources were actors in the maritime logistics industry. The authors also use secondary data from the Ministry of Transport of the Republic of Indonesia, online databases as well as trade magazines and newspapers. This paper conducts a multiple case study and principal component analysis (PCA) to meet the research objectives.
Findings
The intention to use port digitisation services will increase if the perceived usefulness of the service also increases. Also, if the negative coefficient of user trust rises, it will bring a very sharp decrease in customers' intentions to use. Furthermore, the high estimated value of context indicates that users expect to have a good experience using the application and bring benefit to their business.
Originality/value
Based on the authors’ knowledge, there has been no review about port digitalisation, specifically in Indonesia. The authors initially provided best practices to improve port connectivity, which can impact improving maritime logistics capabilities.
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Lorenzo Bruno Prataviera, Emilio Moretti and Elena Tappia
The postponement boundary problem entails that duties and cross-border trade complexity can lead companies to geographically postpone operations to downstream global facilities…
Abstract
Purpose
The postponement boundary problem entails that duties and cross-border trade complexity can lead companies to geographically postpone operations to downstream global facilities. The present study aims at investigating the problem to provide insights into the drivers behind the choice of different postponement strategies for global food supply chains.
Design/methodology/approach
A single case study was conducted considering an Italian company exporting olive oil toward the United States. Two global postponement strategies, previously formalized in the literature, were tailored for food supply chains. A multi-methodological approach was adopted, combining data obtained through exploratory case research with empirically grounded analytical modeling. A sensitivity analysis was also performed, to investigate outcomes related to the considered problem when changing key parameters.
Findings
Bulky and heavy packing materials account for a big percentage of finished products' volume and weight, and this can deeply affect strategies' cost-effectiveness. Postponing packaging operations could allow for taking advantage of lower tariffs levied on bulk goods, contributing to significantly lower duties to be paid. However, important trade-offs could arise related to the required investments, and the fiscal regulatory frameworks must be carefully examined.
Originality/value
This study offers an empirical investigation of the postponement boundary problem, which is largely unexplored in the current literature. It also tackles an understudied empirical context as global food supply chains. It summarizes the drivers behind and explores the costs related to the implementation of different strategies, offering an original quantitative approach that could support practitioners' decision-making. Lastly, it formalizes five propositions that could pave the way for further research inquiries.
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Sandra Navarro-Ruiz, Ana B. Casado-Díaz and Josep Ivars-Baidal
The purpose of this paper is to provide a deeper understanding of the relevance of shore excursions in the distribution of cruise passenger flows; an approach which has been…
Abstract
Purpose
The purpose of this paper is to provide a deeper understanding of the relevance of shore excursions in the distribution of cruise passenger flows; an approach which has been overlooked by many studies on cruise tourism. Specifically, the paper focuses on two destinations: Barcelona, a mature cruise destination suffering from the impact of overcrowding; and Valencia, an emerging cruise destination facing the risk of future (similar) impacts.
Design/methodology/approach
The method used is multiple-case study with replication logic. First, web content analysis is conducted of shore excursion descriptions of the destinations selected so as to identify the itineraries, as well as the municipalities and the specific tourist attractions included in the tours. Then, word-processing tools are used to create a regional and local data set to arrange the narrative data. Finally, density maps are drawn in order to examine the different visitor flows within the tourist hinterlands from the supply perspective.
Findings
The results indicate that most shore excursions are concentrated in the port cities. Comparing the two destinations, the paper argues that the redistribution within the cities is not equally balanced. Nevertheless, the results also reveal that the excursions offered by local shore tourism operators (TOs) in both destinations have contributed to the expansion of the cruise tourist hinterland over a wider regional area.
Research limitations/implications
This paper evaluates the visitor flow distribution from a supply perspective. Hence, future studies should examine the demand dimension in order to gain a deeper understanding of the concentration intensity. Additionally, it would be worth examining not only visitors taking guided tours but also the independent ones (those who visit the destination on their own).
Originality/value
Despite the growing importance of cruise tourism, research on the role of local shore TOs in this sector is quite limited. One element that deserves more research attention is related to the role of shore excursions in the spatial configuration of the cruise tourist hinterland. Finally, the results obtained could also have significant implications for policy makers developing and promoting effective measures to prevent overcrowding.