Iona Yuelu Huang, Louise Manning, Vicky Wood, Katy L. James, Anthony Millington, Vasilis Grigoriadis and Shane Ward
This research aims to explore retail managers' views on how food waste (FW) management activities contribute to sustainable value creation and how the customer value proposition…
Abstract
Purpose
This research aims to explore retail managers' views on how food waste (FW) management activities contribute to sustainable value creation and how the customer value proposition (CVP) for a given food retailer interacts with their approaches to FW management.
Design/methodology/approach
A three-stage exploratory qualitative approach to data collection and analysis was adopted, involving in-depth interviews with retail managers, documentary analysis of multiple years of relevant corporate reports and email validation by seven major UK grocery retailers. Thematic content analysis supplemented by word similarity cluster analysis, two-step cluster analysis and crisp-set qualitative comparative analysis was undertaken.
Findings
FW management practices have been seen by retail managers to contribute to all forms of sustainable value creation, as waste reduction minimises environmental impact, saves costs and/or serves social needs, whilst economic value creation lies at the heart of retail FW management. However, retail operations are also framed by CVP and size of a retailer that enable or inhibit the adoption of certain FW management practices. Low-price retailers were more likely to adopt practices enabling them to save costs. Complicated cost-incurring solutions to FW were more likely to be adopted by retailers associated with larger size, high quality and a range of services.
Originality/value
This study is the first of its kind to empirically explore retail managers' perception of sustainable value creation through FW management activities and to provide empirical evidence of the linkages between retail CVP and sustainable value creation in the context of retail FW management.
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Panos Fousekis and Vasilis Grigoriadis
This paper aims to identify and quantify directional predictability between returns and volume in major cryptocurrencies markets.
Abstract
Purpose
This paper aims to identify and quantify directional predictability between returns and volume in major cryptocurrencies markets.
Design/methodology/approach
The empirical analysis relies on the cross-quantilogram approach that allows one to assess the temporal (lag-lead) association between two stationary time series at different parts of their joint distribution. The data are daily prices and trading volumes from four markets (Bitcoin, Ethereum, Ripple and Litecoin).
Findings
Extreme returns either positive or negative tend to lead high volume levels. Low levels of trading activity have in general no information content about future returns; high levels, however, tend to precede extreme positive returns.
Originality/value
This is the first work that uses the cross-quantilogram approach to assess the temporal association between returns and volume in cryptocurrencies markets. The findings provide new insights about the informational efficiency of these markets and the traders’ strategies.
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Keywords
Panos Fousekis and Vasilis Grigoriadis
This paper aims to investigate empirically the linkages between stock and commodity futures markets.
Abstract
Purpose
This paper aims to investigate empirically the linkages between stock and commodity futures markets.
Design/methodology/approach
It involves the application of a flexible copula approach to weekly total returns from the S&P 500 index and from three commodity sub-indices (agriculture, metals and energy) from 1995 to 2017.
Findings
Co-movement is by no means frequent and symmetric. It was predominantly zero before the last financial crisis, and since then, it is positive and asymmetric. The pattern of asymmetry is consistent with transmission of shocks under extreme negative shocks only. Recently, total returns of commodity futures are very poor. At the same time, commodity futures markets move in step (out of step) with stock markets when the latter plunge (rise), pointing to limited diversification benefits. These appear to justify the concerns of investors and researchers whether including commodities in a portfolio of assets is still a prudent investment strategy.
Originality/value
It is the only manuscript that combines a flexible copula approach and co-movement measurement along both the positive and negative diagonals. The findings are in sharp contrast with those reported by Delatte and Lopez (2013) and are very important for portfolio management.