Bibliometric study on asset pricing

Purpose This study aims to provide a comprehensive overview of asset pricing research and identifies the general research trends in the area. The study also aims to provide future direction to the researchers in the area of asset pricing. Design/methodology/approach The study uses bibliometric analysis techniques to achieve the stated purpose. The study covers 3,007 articles published in the top 50 finance and economics journals, accessed from the Scopus database for a period of 47 years (1973–2020). After initial searching for “asset pricing” as the main keyword in “title, abstract, keywords”, the database yields 6,583 articles. This number further reduces to 3,007 articles when the search is restricted to research and review articles published in the top 50 peer-reviewed journals. Findings The tabular and pictorial representation obtained from the analysis exhibit that asset pricing is an extensively researched area; however, a sudden rise in the number of publications (242) observed for 2019 demonstrates a growing interest amongst researchers. Further, affiliation statistics indicate that the volume of research is mainly concentrated in the USA and other developed nations; hence it opens vistas for the exploration of risk-return dynamics in the context of emerging markets. Originality/value The work presents an exhaustive and comprehensive review along with potential research implications. The present study reconciles various contradictory views of the prior studies under asset pricing such as risk-return trade-off, low-risk anomaly and provides the researchers with potential research gaps.

Carbon pricing research in Brazil: advances and challenges / Pesquisa de preços de carbono no Brasil: avanços e desafios

Carbon pricing policies are currently considered to be implemented in Brazil, so understanding the present state of carbon pricing research focusing on the national perspective can support energy and environmental policy discussions and guide future research directions. Using the bibliometric method, we analysed 160 publications aiming at assessing the carbon pricing literature in Brazil by 2020. We found out a low and recent production of articles on carbon pricing in Brazil, concentrated from 2015 onwards. Climate Policy is the leading journal and the Federal University of Rio de Janeiro (UFRJ) leads the ranking of the top three authors. Most publications are related to land use change and deforestation, and few publications connect Brazil to carbon pricing policies instruments, like emission trading schemes (ETS) and carbon taxes. However, there is an increase in the number of articles relating Brazil to the energy and environmental policies considering the policy and governance approaches.

Pricing Research: State of the Art and Future Opportunities

The most commonly used pricing approaches adopted by companies worldwide are based on costs, customer value, and competition. The purpose of the present study is to review the current status of publications on pricing globally with the addition of Brazilian literature, identify the most cited authors and highest publishing institutions, and outline further research opportunities. To this end, we use the bibliometric method to analyze relevant publications from the following four databases: Web of Science, Emerald, Elsevier, and Spell. A total of 286 papers from 195 periodicals and 31 journals (primarily from marketing, accounting, economics, and production engineering) are reviewed. The findings show that pricing is a complex and multifaceted topic involving far more than merely establishing selling prices, and that pricing managers face substantial challenges. The results also reveal that the cost-based pricing approach is superior to the perceived customer-value-based and the competition-based approaches. Finally, the findings show that pricing remains an underresearched topic, and is thus a fertile ground for further investigation.

Dynamic Pricing Research for Container Terminal Handling Charges Based on Demand Forecast

A dynamic pricing model was established based on forecasting the demand for container handling of a specific shipping company to maximize terminal profits to solve terminal handling charges under the changing market environment. It assumes that container handling demand depends on the price and the unknown parameters in the demand model. The maximum quasi-likelihood estimation(MQLE) method is used to estimate the unknown parameters. Then an adaptive dynamic pricing policy algorithm is proposed. At the beginning of each period, through dynamic pricing, determining the optimal price relative to the estimation value of the current parameter and attach a constraint of differential price decision. Meanwhile, the accuracy of demand estimation and the optimality of price decisions are balanced. Finally, a case study is given based on the real data of Shanghai port. The results show that this pricing policy can make the handling price converge to the stable price and significantly increase this shipping company's handling profit compared with the original "contractual pricing" mechanism.

Penelitian Transfer Pricing di Indonesia: Sebuah Studi Kepustakaan

Abstrak: Penelitian ini bertujuan untuk melakukan pemetaan atas berbagai hasil penelitian terkait transfer pricing di Indonesia dan memberikan rekomendasi agenda riset transfer pricing di masa depan. Pemetaan dilakukan berdasarkan tingkat topik penelitian, metode penelitian, variabel penelitian, dan hasil pengujian. Penelitian ini menggunakan metode kualitatif dengan pendekatan bibliografi. Objek yang digunakan dalam penelitian ini yaitu sebanyak 41 artikel hasil penelitian yang diterbitkan oleh jurnal yang telah terakreditasi SINTA atau terindeks Scopus sejak tahun 2000 sampai dengan awal tahun 2020. Hasil penelitian menunjukkan bahwa mayoritas tingkat topik penelitian yang paling banyak dibahas yaitu determinan transfer pricing. Sebagian besar penelitian menggunakan metode kuantitatif. Mayoritas penelitian kuantitatif menggunakan transfer pricing aggressiveness sebagai variabel dependen. Sebagian besar penelitian kuantitatif menggunakan tiga variabel independen yaitu, pajak, tunneling incentive, dan mekanisme bonus. Mayoritas hasil pengujian atas pengaruh pajak dan tunneling incentive terhadap transfer pricing aggressiveness menunjukkan pengaruh positif, sedangkan mayoritas hasil pengujian atas pengaruh mekanisme bonus menunjukkan tidak ada pengaruh. Kata kunci: Transfer Pricing, Penelitian, Indonesia. Abstract: This study aims to map various research results related to transfer pricing in Indonesia and and provide recommendations on the transfer pricing research agenda in the future. Mapping is based on the research topics, research methods, research variables, and test results. This study uses a qualitative method with a bibliographic approach. The objects used in this study are 41 research articles published by SINTA accredited journals or Scopus indexed since 2000 until early 2020. The results show that the most discussed research topics are determinants in transfer pricing. The majority of quantitative studies use transfer pricing aggressiveness as dependent variable. Most quantitative studies use three independent variables namely, taxation, tunneling incentives, and bonus mechanisms. The majority of testing results on the effect of taxation and tunneling incentives on transfer pricing aggressiveness show a positive effect, while the majority of test results on the effect of the bonus mechanism show no effect. Keywords: Transfer Pricing, Research, Indonesia.

Analyzing Spatial Variance of Airbnb Pricing Determinants Using Multiscale GWR Approach

A sharing economy accommodation service like Airbnb, which provides trust between strangers to connect them for profiting from underutilized assets, was born and has thrived thanks to the innovations in the platform technology. Due to the unique structure of Airbnb, the pricing strategies of hosts are very different from the conventional hospitality industry. However, existing Airbnb pricing studies have limitations considering the varying scale of operation among hosts, spatial variances in pricing strategies, and crucial geographic information for estimating the influence of the pricing variables, as well as ignoring inter-city variances. In this research, we explored the spatially heterogeneous relationship between price and pricing variables using an innovative spatial approach, Multiscale Geographically Weighted Regression (MGWR). Analysis results for Airbnb listing in Log Angeles and New York in the US showed the effectiveness of MGWR regarding estimating the influence of pricing variables spatially. By revealing spatially heterogeneous and dependent relationships, this research fills gaps in Airbnb pricing research and deepens the understanding of the pricing strategies of the hosts.