Analysis of brand influence in the rockets and feathers effect using disaggregated data

Palencia González, Francisco J., Navio Marco, Julio y Juberías Cáceres, Gema . (2020) Analysis of brand influence in the rockets and feathers effect using disaggregated data. Research in International Business and Finance, 52, 101168

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Título Analysis of brand influence in the rockets and feathers effect using disaggregated data
Autor(es) Palencia González, Francisco J.
Navio Marco, Julio
Juberías Cáceres, Gema
Materia(s) Economía
Empresa
Abstract This paper studies price asymmetries (the ‘rockets and feathers effect’) at the firm level using an approach that fundamentally differs from the previous literature. The research analyses the Spanish oil market, using more than 11 million daily price records from December, 23, 2014, to December 31, 2017. We apply the most common econometric approach to investigate asymmetry, the error correction model, and find asymmetries for all brands, either classic brands or low-cost flag brands. Classic brands make price adjustments in shorter periods, whereas supermarket brands, as well as independent and low-cost brands, correct prices only slowly. This research makes an original contribution to the study of the rockets and feathers phenomenon using brands as the units of analysis. The speed of price adjustments is especially relevant to understanding oil market price dynamics.
Palabras clave Oil pricing; ;
price adjustments
rockets and feathers
oil market
Editor(es) Elsevier
Fecha 2020-04-01
Identificador bibliuned:DptoOE-FECO-Articulos-Jnavio-0009
http://e-spacio.uned.es/fez/view/bibliuned:DptoOE-FECO-Articulos-Jnavio-0009
DOI - identifier https://doi.org/10.1016/j.ribaf.2019.101168
ISSN - identifier 0275-5319; eISSN: 1878-3384
Nombre de la revista Research in International Business and Finance
Número de Volumen 52
Publicado en la Revista Research in International Business and Finance, 52, 101168
Idioma eng
Versión de la publicación acceptedVersion
Tipo de recurso Article
Derechos de acceso y licencia http://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Tipo de acceso Acceso abierto
Notas adicionales This is an Accepted Manuscript of an article published by Elsevier in "Research in International Business and Finance, 52, 101168", available at: https://doi.org/10.1016/j.ribaf.2019.101168
Notas adicionales Este es el manuscrito aceptado del artículo publicado por Elsevier en "Research in International Business and Finance, 52, 101168: https://doi.org/10.1016/j.ribaf.2019.101168

 
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Creado: Sat, 10 Feb 2024, 00:07:56 CET