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

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dc.contributor.authorPalencia González, Francisco Javier
dc.contributor.authorNavío Marco, Julio
dc.contributor.authorJuberías Cáceres, Gema
dc.date.accessioned2024-05-20T11:50:55Z
dc.date.available2024-05-20T11:50:55Z
dc.date.issued2020-04-01
dc.description.abstractThis 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.en
dc.description.versionversión final
dc.identifier.doihttps://doi.org/10.1016/j.ribaf.2019.101168
dc.identifier.issn0275-5319; eISSN: 1878-3384
dc.identifier.urihttps://hdl.handle.net/20.500.14468/12629
dc.journal.titleResearch in International Business and Finance
dc.journal.volume52
dc.language.isoen
dc.publisherElsevier
dc.relation.centerFacultad de Ciencias Económicas y Empresariales
dc.relation.departmentOrganización de Empresas
dc.rightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0
dc.subject.keywordsOil pricing; ;
dc.subject.keywordsprice adjustments
dc.subject.keywordsrockets and feathers
dc.subject.keywordsoil market
dc.titleAnalysis of brand influence in the rockets and feathers effect using disaggregated dataes
dc.typejournal articleen
dc.typeartículoes
dspace.entity.typePublication
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relation.isAuthorOfPublication83ee7c49-5731-4c68-92b3-7e2abeb75dc7
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relation.isAuthorOfPublication.latestForDiscoverydb909d44-7c7f-449b-a2f3-8b1c429b32b2
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