The author analyses the strategies developed by workers and unions to obtain representation and the successes and limitations of the strategies, in a context of platform work such…
Abstract
Purpose
The author analyses the strategies developed by workers and unions to obtain representation and the successes and limitations of the strategies, in a context of platform work such as Spanish dominated by labour relations of employee workers.
Design/methodology/approach
The empirical material is the result of a series of in-depth interviews conducted between August 2020 and September 2021 with 41 workers, 15 of them union delegates, in addition to 4 union members and a labour lawyer. From these interviews, the author obtains a detailed account of the working conditions and the different phases that unionism has gone through in its objective of obtaining representation in a completely new sector.
Findings
The author found that employment in the relationship does not solve all the problems of platform work, especially those related to algorithmic control, but employment in the relationship provides advantages such as the right to representation. Workers play an important role in union strategies.
Originality/value
This study is the first in Spain, where platform work in passenger transport includes the employment relationship as a legal contracting mechanism.
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Diana López Avilés, Paula Piñeira, Víctor Andrés Roco Cáceres, Felipe Vergara and Nicolas Araya
The Financial Stability Board (FSB) determined that entities classified as shadow banking are of a credit nature because they are capable of affecting the financial system through…
Abstract
Purpose
The Financial Stability Board (FSB) determined that entities classified as shadow banking are of a credit nature because they are capable of affecting the financial system through the entry and exit of capital. This study aims at measuring the impact of shadow banking in the systemic risk in Chile. A sample of 91 institutions (Run) belonging to the mutual funds was used, with a series showing a continuous behaviour between 2004 and 2018.
Design/methodology/approach
The measurement is carried out using the conditional value at risk (CoVaR) methodology, which analyses the behaviour of an institution in a regular state against the same institution in a state of stress.
Findings
The results obtained reflect that liquidity mismatches do not have a relevant effect on the systemic risk, while the 2008 crisis does contribute to its decline.
Originality/value
There are less number of literature studies that apply statistical models regarding shadow banking, at least at a quantitative level, so this research is a beginning for other studies, supporting future authors in their new research as a basis.
Propósito
El Consejo de Estabilidad Financiera determinó que las entidades clasificadas como Shadow Banking son de carácter crediticio debido a que son capaces de afectar al sistema financiero mediante la entrada y salida de capitales. Este estudio tiene como objetivo medir el impacto del Shadow Banking en el Riesgo Sistémico de Chile. Para esto se utilizó una muestra de 91 instituciones (Run) pertenecientes a los Fondos Mutuos, con series que muestran un comportamiento continuo entre 2004 y 2018.
Diseño/metodología/enfoque
La medición se lleva a cabo mediante la metodología CoVaR, la cual analiza la conducta de una institución en estado normal versus la misma institución en estado de estrés.
Hallazgos
Los resultados obtenidos reflejan que los desajustes de liquidez no tienen un efecto relevante en el Riesgo Sistémico, mientras que la crisis del 2008 si contribuye a la disminución de este.
Originalidad/Valor
Existe muy poca literatura que aplica modelos estadísticos respecto al Shadow Banking, al menos a nivel cuantitativo, por lo que esta investigación es un inicio para otros estudios, apoyando como base a futuros autores en sus nuevas investigaciones.
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The purpose of this paper is to present the progress and trends of the literature on art as an investment and to outline potential research lines to be developed.
Abstract
Objective
The purpose of this paper is to present the progress and trends of the literature on art as an investment and to outline potential research lines to be developed.
Design/methodology/approach
This work gathers, analyses and critically discusses the attributes of investments in art in general, and in Latin American art in particular.
Findings
Most studies report that art (art in general, and Latin American in particular) has offered relatively low but positive real returns, which have tended to be below those offered by stocks and similar to those realized by bonds. Art has a low correlation with other investments.
Research limitations and implications
The literature on the attributes of Latin American art as an investment is limited and new research would help to close the knowledge gap with respect to this segment of the art market as it continues to grow.
Practical implications
Similarly to the research carried out into other segments of the art market, studies on Latin American art suggest that the works of art are worth more, ceteris paribus: the more renowned the artist, the larger the work, whether they were executed in oil, and if they were auctioned at Sotheby’s or Christie’s. The paper also details a series of practical implications for those who participate in the art market.
Originality/value
To the best of the authors’ knowledge, this is the first exhaustive review of the literature on the attributes of Latin American art as an investment. The findings of this study are useful for academics, art collectors, auction houses, gallerists and others who take part in the arts market.
Propósito
Presentar los avances y las tendencias de la literatura sobre el arte como inversión, y delinear líneas de investigación a ser desarrolladas.
Diseño/metodología/enfoque
Este trabajo reúne, analiza y discute críticamente los atributos de inversión del arte, en general, y latinoamericano, en particular.
Hallazgos
La mayoría de los estudios reportan que el arte (tanto el arte, en general, como el arte latinoamericano, en particular) ha ofrecido rendimientos reales positivos, aunque relativamente bajos, los cuales tienden a ser inferiores de los de las acciones y a ser similares a los de los bonos. El arte tiene una baja correlación con otras inversiones.
Limitaciones e implicaciones de la investigación
La literatura sobre los atributos del arte latinoamericano como inversión es limitada. Es de esperar que nuevas investigaciones permitan ir cerrando la brecha del conocimiento con respecto a esta parte del mercado del arte a la par que éste continúe creciendo.
Implicaciones prácticas
Los estudios de arte latinoamericano sugieren, similar a las investigaciones sobre otros segmentos del mercado del arte, que las obras de arte valen más, ceteris paribus: cuando el artista es más reputado, a medida que el área de las obras es mayor, si han sido ejecutadas en óleo, y cuando son subastadas en las casas de subastas Sotheby’s o Christie’s. En el trabajo se detallan, además, una serie de implicaciones prácticas para los participantes del mercado de arte.
Originalidad/valor
Hasta donde se ha podido comprobar, esta es la primera revisión exhaustiva acerca de los atributos del arte latinoamericano como inversión. Los resultados de esta investigación son de utilidad para: académicos, coleccionistas de arte, casas de subastas, galeristas, y demás participantes en el mercado del arte.
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Rui Manuel de Sousa Fragoso and Carlos José de Almeida Noéme
This paper aims to assess the economic effects of climate change on the Mediterranean’s irrigated agriculture and how the adoption of alternative crop varieties adapted to the…
Abstract
Purpose
This paper aims to assess the economic effects of climate change on the Mediterranean’s irrigated agriculture and how the adoption of alternative crop varieties adapted to the expected length of the growing season can be an effective adaptation measure.
Design/methodology/approach
A case study of two irrigation areas in Southern Portugal is used to assess the response to climate change impacts on crop yields and irrigation requirements, and an agricultural supply model is calibrated using a positive mathematical programming (PMP) approach was developed.
Findings
Climate change reduces crop yields and causes a slight decrease in irrigation requirements, which could allow an increase in the irrigated area. However, positive impacts on rural areas regarding employment and investment are not expected. The adoption of adaptation measures based on alternative crop varieties, which could maintain crop yields at current levels, increases dramatically the economic value of water and mitigates losses in farm income.
Research limitations/implications
The impacts on output and input market prices, as well as other biophysical impacts (for instance, CO2 and water availability), are important in understanding the effects of climate change on irrigated agriculture, but they were not considered in this study. While this may be a limitation, it can also be a stimulus for further research.
Practical implications
This is an empirical paper, whose results contribute to improving knowledge about the effects of climate change on irrigated agriculture in Mediterranean areas, namely, its economic impacts on returns and the use of agricultural resources (land, water, labour and capital). Other practical implications of the paper are associated with the methodological approach, which provides a framework able to deal with the complexity and multidimensional effects of climate change.
Social implications
The results of the paper provide important information for scientists, politicians and other stakeholders about the design of more effective adaptation measures able to mitigate the effects of climate change.
Originality/value
Crop yields and irrigation requirements were previously calculated based on data generated by the regional climate models. This is the first time that an application is developed for Portugal. Two distinct profiles of irrigation areas were studied and a large set of crops was considered, which is not common in the existing studies. To specify the PMP approach used to calibrate the agricultural supply model, exogenous crop-specific supply elasticities were estimated through a least square model, which is not common in previous studies.
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Dwi Ratna Hidayati, Elena Garnevska and Thiagarajah Ramilan
Agrifood value chains in developing countries are transforming into higher value markets which require sustainable practices, with smallholders playing a critical role. However…
Abstract
Purpose
Agrifood value chains in developing countries are transforming into higher value markets which require sustainable practices, with smallholders playing a critical role. However, smallholders are a heterogeneous group which may have discrepancies in outcomes to meet sustainability standards. This paper aims to empirically investigate smallholders' heterogeneity towards sustainable value chain practice in developing countries.
Design/methodology/approach
Eight key enabling factors of sustainable value chain transformation were used to explore smallholders' typology, then profiled, based on their socio-economic status and current practices. A quantitative method was applied in Indonesia's cashew sector with 159 respondents from the primary producer area on Madura Island. A combination of descriptive analysis, cluster analysis, cross-tab analysis and one-way ANOVA analysis was used in this study.
Findings
Four types of groups were identified, each with distinct characteristics and arranged in priority order as follows: accelerator, progressor, inattentive and conservative groups. Interventions can be implemented on per clusters basis or based on potential similarities among clusters, depending on priority. It is noted that the pursuit of sustainable value chain practices by smallholders is not necessarily associated with high socio-economic status, as those with low socio-economic status may have a stronger inclination towards them.
Practical implications
The paper enhances awareness of practitioners and policymakers regarding smallholders' heterogeneity in sustainable value chain practice. It enables more effective and focused interventions to support smallholders who require assistance in sustainable production and value-adding activities. Different smallholders' characteristics call for different assistance/intervention. Practitioners can recognise smallholders' characteristics that are more compatible with higher value markets and sustainability requirements to better integrate their practices. Policymakers must carefully develop short-term and long-term interventions based on the activities prioritised by particular traits to “hit the right button” for smallholders' practice development.
Originality/value
This study investigates the typology of smallholders towards sustainable value chain practices by using eight enabling factors and profiling them based on their socio-economic condition and current practices. Additionally, this study shifts the focus of typology exploration away from the traditional lens of farm sustainability to a larger perspective which encompasses sustainable value chain activities.