Monetary policy transmission in segmented markets

Eisenschmidt, Jens; Ma, Yiming; Zhang, Anthony Lee

doi:10.1016/j.jfineco.2023.103738

Cited by 6 publications

(2 citation statements)

References 46 publications

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“…Market segmentation is crucial to identifying the right target market. More than 60 years since its introduction in the 1950s, the concept has become increasingly important to businesses (Davras and Caber, 2019;Eisenschmidt et al, 2024). The application of market segmentation is vast and may extend to all business sectors, including banking (Noori, 2015;Kaur et al, 2014), fashion and retailing (Birtwistle et al, 1998;Khan et al, 2016) and tourism and events (Carvache-franco et al, 2019;Crompton and McKay, 1997;Mallette et al, 2018;Schofield and Thompson, 2007;Viljoen et al, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

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Technographic segmentation of smartphone usage at the Rainforest World Music Festival

Hassan,

Hashim

2024

IJEFM

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PurposeThis is amongst the first works to develop a technographic segmentation of smartphone users attending music festivals based on attitudes, motivations and usage patterns. We also aim to describe festivalgoers’ characteristics.Design/methodology/approachThe data were collected from 522 festivalgoers who attended the Rainforest World Music Festival (RWMF) in Malaysia. A two-stage cluster analysis of Ward’s method and k-means was applied to develop technographic segmentation during the festival. Using discriminant analysis, we confirmed that each festivalgoer’s characteristics differ amongst groups.FindingsFour technographic segments were developed: alarm hitters, technological tickers, plug pullers and fuse blowers. The results confirmed that festivalgoers had distinct characteristics and preferences based on smartphone use.Research limitations/implicationsWe extend previous research on the technographic segmentation of smartphones and festivalgoers. We highlighted the limitations of cluster analysis in terms of stability to produce a suitable number of segments and to include other festivals. The generalisability of the results may be constrained by the time gap between data collection and publication.Practical implicationsOur results can help marketing managers understand the needs of segments by selecting appropriate advertisements and promotional tools that appeal directly to the desired target segments.Social implicationsThis study will help local communities increase their revenue and job opportunities. The culture of music festivals for the next generation can be sustained and promoted by local and international festival lovers.Originality/valueThis study is the first to present festivalgoers' use of the technographic segmentation term in music festivals.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Technographic segmentation of smartphone usage at the Rainforest World Music Festival

Hassan,

Hashim

2024

IJEFM

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The repo market under Basel III: Effects of capital and liquidity regulations on market fragmentation

Gerba,

Katsoulis

2024

Int. J Fin Econ

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Regulatory requirements can affect banks' ability and willingness to intermediate in financial markets. Yet, evidence on how these requirements interact to affect bank behaviour is thin. We contribute by assessing the effects of Basel III regulatory ratios on financial market fragmentation using the UK repo market as an important case study. Using panel regressions with proprietary data on repo transactions and holdings backed by gilts and lower‐quality collateral, we find affirmative evidence of a fragmentation. The leverage ratio incentivises banks to net transactions which leads to a fragmentation across prices between netted and non‐netted trades. Central bank liquidity can ease market conditions during stress and benefit banks that use it and their counterparties via reduced prices. In addition, the liquidity coverage ratio incentivises banks to increase long‐term lending backed by gilts, but reduce lending backed by lower‐quality collateral. This results in a fragmentation across maturities.

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