International trade and firms' attitude towards risk

Бролл, Удо; Mukherjee, Soumyatanu

doi:10.1016/j.econmod.2017.03.006

Cited by 24 publications

(22 citation statements)

References 27 publications

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“…Therefore, this paper focuses on modelling the attitude of a risk averse manufacturer to obtain optimal supply decision under tightly versus loosely interconnected risks utilising the two-moment (i.e., mean-standard deviation) decision theoretic approach. This modelling approach has also been applied by Eichner & Wagener, 2003, 2009Alghalith et al, 2017;Broll & Mukherjee, 2017;Broll et al, 2019;Huang & Jiang, 2020;Padhi & Mukherjee, 2021; among a few of the many. In such decision-theoretic modelling approach, the preferences over random distributions of the objective function are represented by the utility function, which is defined over only the mean and standard deviation of the objective function.…”

Section: Interconnected Sc Risksmentioning

confidence: 99%

“…To answer the three research questions mentioned above, we have used a two-moment (or equivalently, a mean-standard deviation) decision-theoretic approach (see, for example, Eichner & Wagener, 2003, 2009Alghalith et al, 2017;Broll & Mukherjee, 2017;Broll et al, 2019;Padhi & Mukherjee, 2021). In such decision-theoretic modelling approach, the preferences over random distributions of the objective function are represented by the utility function, which is defined over only the mean and the variance (or standard deviation) of the objective function.…”

Section: Introductionmentioning

confidence: 99%

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Sourcing decision under interconnected risks: an application of mean–variance preferences approach

Mukherjee

Padhi

2022

Ann Oper Res

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Supply chains are customarily associated with multiple interconnected risks originated from supply side, demand side, or from the unanticipated background uncertainties faced by a firm. Also, effective functioning of supply chain hinges on sourcing decisions of inputs (raw materials). Therefore, there is a striking need to analyse the risk preference of the decision maker while going for optimal sourcing decision under varying degree of interconnected supply chain risks. This study addresses this issue by analysing the comparative static effects under interconnected supply chain risks for a risk averse decision-maker, manufacturing and selling products in a regulated market under perfect competition. The decision-maker faces not only supply-side risk (due to random input material prices) but also interconnected risks arising out of background risk (setup costs risk) and demand-side risk (output prices risk). With preferences defined over the mean and standard deviation of the uncertain final profit, this study illustrates the effects of the changes in the pairwise correlations between the three above mentioned risks on the optimum input choice of the manufacturer. To contextualise this study, an India-based generic drug manufacturer cum seller has been considered as a case in the parametric example of our model. Adaptation of the mean–variance framework helps obtaining all the results in terms of the relative trade-off between risk and return, with simple yet intuitive interpretations.

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Section: Interconnected Sc Risksmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Sourcing decision under interconnected risks: an application of mean–variance preferences approach

Mukherjee

Padhi

2022

Ann Oper Res

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“…We do this using a two-moment (i.e. mean -variance) decisiontheoretic model, similar to the one considered in the work of Broll and Mukherjee (2017).…”

Section: Introductionmentioning

confidence: 99%

Export under Background Risk: A Mean-Variance Decision Analysis for Indian Manufacturing Firms

Mukherjee

Mishra

2020

SSRN Journal

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How would accessing foreign markets affect risk exposure of manufacturing firms? Producing for and selling specific goods to foreign markets (exports) require specialized attention. For example, manufacturing firms are exposed to idiosyncratic shocks in their global supply chains, such as exchange rate volatility, asset market frictions, transaction risks, credit tightening, and so on. Given this background, we probed production and exporting decision for a

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“…Political factors have been increasing the uncertainty of our fragile global economy recently, and unpredictable trade risks might last even longer [1,2]. Enterprises, especially multinational firms, must focus on the continuous improvement of their product quality and service level to survive [3]. Thus, the key issue depends on whether the enterprise is able to understand and respond to the customer needs.…”

Section: Introductionmentioning

confidence: 99%

Multifunctional Product Marketing Using Social Media Based on the Variable-Scale Clustering

Wang

Gao

2019

Teh. vjesn.

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Customers' demands have become more dynamic and complicated owing to the functional diversity and lifecycle reduction of products which pushes enterprises to identify the real-time needs of distinct customers in a superior way. Meanwhile, social media turned as an emerging channel where customers often spontaneously can express their perceptions and thoughts about products promptly. This paper examines the customer satisfaction identification and improvement problem based on social media mining. First, we proposed the public opinion sensitivity index (POSI) to uncover target customers from extensive short-textual reviews. Subsequently, we presented a customer segmentation approach based on the sentiment analysis and the variable-scale clustering (VSC). The approach is able to get several customer clusters with the same satisfaction level where customers belonging to each cluster have similar interests. Finally, customer-centered marketing strategies and customer difference marketing campaigns are planned under the shadow of customer segmentation results. The experiments illustrate that our proposed method can support marketing decision marketing in practice that enriches the intention of the current customer relationship management.

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International trade and firms' attitude towards risk

Cited by 24 publications

References 27 publications

Sourcing decision under interconnected risks: an application of mean–variance preferences approach

Sourcing decision under interconnected risks: an application of mean–variance preferences approach

Export under Background Risk: A Mean-Variance Decision Analysis for Indian Manufacturing Firms

Multifunctional Product Marketing Using Social Media Based on the Variable-Scale Clustering

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