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The efficient markets hypothesis argues that stock prices reflect all information in the market and that it is not possible for investors to obtain abnormal returns. However, in some of the academic studies, it was determined that this hypothesis was not valid and these situations were stated as anomalies. The aim of this study is to examine whether there is a Ramadan effect, which is among the periodic anomalies in Borsa Istanbul. The research covers a 166-month period between January 2011 and May 2024. In the study, the power ratio method was used to detect the Ramadan anomaly in the Participation Index. As a result of the study, it was determined that the highest monthly average return occurred in the month of Rabi al-Ahir and the lowest monthly average return occurred in the month of Cemaziyelahir. As a result of the study, it was concluded that there was a periodic anomaly in the months of Rajab and Ramadan, which are the three months considered sacred in Islamic belief, and that there was no effect of Shaban. [ABSTRACT FROM AUTHOR]

The agriculture industry is becoming more "feminized," with more women taking on diverse roles as labourers, entrepreneurs, and cultivators as a result of males migrating from rural to urban areas at an increasing rate. Empirical data worldwide indicates that women play a critical role in maintaining regional agro-biodiversity and guaranteeing food and nutritional security. From clearing land to selling, women are integral to every aspect of farming operations. Despite being referred to as "Invisible Workers," There is gender inequality in their access to inputs, marketing, consulting services, land ownership and remuneration. Keeping this in view, a study was carried out to assess the Participation Index of women in vegetable cultivation and explore the important gender issues from cultivation to marketing. Rank Based Quotient method in the Participatory Rural Appraisal technique was used. The Participation Index falls between 0.23 and 0.67. The major gender issues perceived were the pay gap between men and women (RBQ value of 83.67), accessibility to inputs and resources (84.35) and low influence over the commodities for marketing (116.19). But regardless of these issues, women are actively involved in various agricultural activities and nowadays, the women are agripreneurs instead of just managing households. Hence, proper attention has to be given for fair pay, stable income, easy access to resources and knowledge on current marketing trends. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Auditing & Assurance Services (AUDAS) is the property of Journal of Auditing & Assurance Services (AUDAS) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Omer Halisdemir Universitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of Omer Halisdemir University, Faculty of Economics & Admistrative Sciene and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Land degradation is a major issue in Ethiopia and has a significant impact on agriculture and subsistence. Community-based land restoration projects are essential to address this issue. This study aimed to evaluate the implementation of a community-based land restoration programs and its impact on livelihoods in the Offa District of south Ethiopia. Four Kebeles were randomly selected for the study and 133 household heads (52 program participants and 81 non-participants) were selected using a simple random sampling method. Data was collected by using an interview schedule, focus-group discussions, and key informant interviews. Data were analyzed using a binary logistic regression model, propensity score matching, participation index (PI), t-test, and chi-square test. The results showed that the implemented land rehabilitation measures had higher crop production and farm income for most adopter households compared to their counterparts. The logistic regression model revealed that the slope of farmland, gender of household heads, family size, perception of rehabilitation, access to training, and farm experience positively influenced household participation in the community-based land rehabilitation programme (CBLRP) in the study area. However, the age of the respondents, access to education, size of farmland, frequency of extension contact positively and ownership of livestock negatively influenced household participation. Propensity score matching revealed that CBLRP resulted in higher crop output and farm revenue for most participating families than counterparts. Based on these findings, it is recommended that agricultural and rural development offices, non-governmental organizations, and other stakeholders should consider the factors that influence household participation in rehabilitation programs in the study area to effectively address the issue of the households’ participation at various levels of rehabilitation programs.

The review is devoted to the assessment of the monograph by N.A. Volgina and Liu Pengfei “China in Global Value Chains”. Based on the input-output methodological approach and the principle of decomposition of gross exports, the authors come to a number of relevant conclusions that depict the dynamics of China’s participation in global value chains. Thus, the last decades have been characterized by uneven growth of Chinese domestic and foreign value added: domestic value added has grown at a faster rate than foreign value added, and its share in gross exports has gradually increased. At the same time, there has been a drop in China’s “participation index” in global value chains, and this decrease was developing at the expense of a decrease in upward participation. The “position Index” was characterized by a different trend: its slow growth from negative to positive values was observed, which reflected the fact that China’s income from value-added trade was increasing. The authors’ calculations show that there are differences in the dynamics of “indices of participation” of individual industries in value chains: the share of labourintensive industries is decreasing and the share of capital-intensive industries, primarily engineering, is increasing. For the first time in Russian economic literature, this monograph critically assesses the contribution of Chinese economists to the study of the formation of global and regional value chains in China. In the final part of the monograph, the authors point out the contradictory effects of China’s participation in global value chains, which include both the benefits and risks of such integration.

Discovering spatial co-location patterns is a process of finding groups of distinct spatial features whose instances are frequently located together in spatial proximity. A co-location pattern is prevalent if its participation index is no less than a minimum prevalence threshold given by users. Most of the existing algorithms are very sensitive to the prevalence threshold, when users change the prevalence threshold, these algorithms have to re-collect table instances and re-calculate participation indexes of all patterns for mining the prevalent patterns that users expect to acquire. To tackle this issue, we propose an overlapping clique-based spatial co-location pattern mining framework (OCSCP). In our framework, we design a two-level filter mechanism with the first level is a feature type filter and the second level is a neighboring instance filter. By employing the mechanism, under a certain neighbor relationship, spatial instances are divided into a set of overlapping cliques and each clique is also a co-location instance of a pattern. And then, a co-location pattern hash map structure is designed to store table instances of patterns based on these overlapping cliques. The participation index of each pattern can be fast and directly calculated from the hash map structure. Thus, when the prevalence threshold is changed, the proposed framework does not need to re-gather table instances, and the mining result can be adaptively and quickly given to users. The proposed algorithms are performed on both synthetic and real-world data sets to demonstrate that our algorithms can rapidly respond to user requirements compared to the previous algorithms. [ABSTRACT FROM AUTHOR]

The concept of Active citizenship is gaining importance. Ignoring the issues of selection of dimensions and items, the paper addresses methodological issues and aggregation of indicators of multidimensional active participation index (PI) by two methods. Policy makers and researchers can take advantages of the proposed methods of arithmetic aggregation (Method-1) with normally distributed transformed scores or multiplicative aggregation (Method-2) without scaling and choosing weights. Thus, the Method-2 avoids the problems of rank robustness specific to selection of weights. Multiplicative aggregation proposed in Method-2 can be converted to additive model by taking logarithms. Normal distributions of two or more groups by Method-1 are likely to give rise to lower value of Ginis coefficient indicating equality. Avoiding major limitations of ordinal scores, both methods satisfy desired properties, analysis under parametric set up for meaningful comparisons including testing of statistical hypothesis, identification of critical dimensions, ranking of the dimensions by elasticity, assessment of progress/decline of PI, etc. Method-2 offers more generalized approach satisfying time reversal test and formation of chain indices. However, test of normality is required for this method unlike the Method-1 which ensures normally distributed scores. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Economy Business & Management is the property of Journal of Economy, Business & Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of BES Journal: International Journal of Business & Economic Studies is the property of BES Journal - International Journal of Business & Economic Studies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Journal of Emerging Economies & Policy is the property of JOEEP: Journal of Emerging Economies & Policy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Individuals who own shares of companies traded on the stock exchange become partners of the companies they invest in. The situation also brings to light certain issues for shareholders in terms of their religious obligations, in addition to the advantages of receiving a share of the company's earnings as profit and the risks of being affected by the company's losses. One of the issues that has come up in this context is the possibility that the income from the company one has become a partner in may contain prohibited elements from a fiqh perspective. Especially the financial needs that arise as a result of market conditions, the need to protect savings against inflation, legal obligations, and similar factors can affect companies' possession of income that is considered prohibited according to fiqh. In such cases, the issue of purifying prohibited income becomes even more important for investors. Since shareholders are partners in the companies they invest in, the company's income naturally becomes the income of the shareholders in proportion to their shares. From the perspective of Islamic law, it is a general rule that a Muslim individual's wealth should not include income that is considered prohibited from a fiqh perspective. However, as is the case in a partnership relationship, it is likely that prohibited income may arise as a result of the management of others or the imposition of certain conditions. It is generally accepted that if such income arises, it should be purified by allocating it to certain aspects. This article examines the reasons why prohibited income may arise in companies that one invests in, how it can be identified, what method investors can use to purify it, and which aspects the purification amount can be allocated to, aiming to provide a comprehensive fiqh perspective on the purification of shares. [ABSTRACT FROM AUTHOR]

Describing travel patterns and identifying significant locations is a crucial area of research in transportation geography and social dynamics. Our study aims to contribute to this field by analyzing taxi trip data from Chengdu and New York City. Specifically, we investigate the probability density distribution of trip distance in each city, which enables us to construct long- and short-distance trip networks. To identify critical nodes within these networks, we employ the PageRank algorithm and categorize them using centrality and participation indices. Furthermore, we explore the factors that contribute to their influence and observe a clear hierarchical multi-centre structure in Chengdu's trip networks, while no such phenomenon is evident in New York City's. Our study provides insight into the impact of trip distance on important nodes within trip networks in both cities and serves as a reference for distinguishing between long and short taxi trips. Our findings also reveal substantial differences in network structures between the two cities, highlighting the nuanced relationship between network structure and socio-economic factors. Ultimately, our research sheds light on the underlying mechanisms shaping transportation networks in urban areas and offers valuable insights into urban planning and policy making. [ABSTRACT FROM AUTHOR]

Agricultural production have remained rudimentary despite many years’ of technology development and transfer; to reverse this declining trend, several agricultural policies and programmes aimed at ensuring sustainable production, improved income and farm expansion with added value output have become very germane. This study therefore analyzed tomato farmers’ participation in ASTC activities in Jos-south local Government Area of Plateau state, Nigeria. This study adopted multi stage sampling techniques. Primary was data collected from 80 respondents, during the 2017/2018 farming season and were analyzed using descriptive statistics, participation index, weighted average index analysis and Binary Logit regression. The result of the study revealed that 73.8% were male; 88.75% had access to extension contact. The estimated mean for educational training, household size, farm income and farming experience were 6 years; 8 people; ₦108,500/ha and 12 years respectively. Also, most (68.7%) of the farmers have low participation index of ≤0.45; this trend is responsible for the existing low farm productivity of this crop in the area. Furthermore, the benefits derived from participating in ASTC activities among the respondents were significant as indicated by their weighted average index. In addition, the estimated coefficient of multiple determination (R2) was 0.7602. Also, the coefficients of household size (0.421), education (0.559), experience (0.808), income (0.485) and extension contact (0.376) were statistically significant; implying that these factors in the regression model affected the likelihood of farmer’s decision to participate in ASTC activities. Adequate labour supply; establishment of pilot farms; capacity training; access to agricultural credit, extension services, agro service centres, agricultural information, input supply and cooperative formation are strongly recommended.

Copyright of Bulletin of Accounting & Finance Reviews / Muhasebe ve Finans İncelemeleri Dergisi is the property of Muhasebe & Finans Incelemeleri Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this study is to investigate the effect of local macroeconomic indicators and global risk factors on the participation index in the Turkish stock market from May 2011 to April 2021. Using the quantile regression approach, we detect the impact of local macroeconomic indicators and global risk factors across different market conditions: bull, bear, and normal. The empirical results demonstrate that, among local macroeconomic indicators, monetary policy-related indicators, Consumer Price Index (CPI)(Slope of Government Bond [SGB]), merely influence participation 30 index (KAT30) return in bearish market (bullish market); however, credit default swap negatively affects KAT30 return across all quantiles. When it comes to global risk factors, results show that KAT30 return is negatively affected by the implied volatility index across all quantiles except Q0.75 and Q0.95. This means that the implied volatility index impact on KAT30 return is stronger during the bearish market. Yet, Oil Volatility Index (OVX) and Morgan Stanley Country Index (MSCI) positively impact the index return across upper quantiles. [ABSTRACT FROM AUTHOR]

Describing travel patterns and identifying significant locations is a crucial area of research in transportation geography and social dynamics. Our study aims to contribute to this field by analyzing taxi trip data from Chengdu and New York City. Specifically, we investigate the probability density distribution of trip distance in each city, which enables us to construct long- and short-distance trip networks. To identify critical nodes within these networks, we employ the PageRank algorithm and categorize them using centrality and participation indices. Furthermore, we explore the factors that contribute to their influence and observe a clear hierarchical multi-centre structure in Chengdu’s trip networks, while no such phenomenon is evident in New York City’s. Our study provides insight into the impact of trip distance on important nodes within trip networks in both cities and serves as a reference for distinguishing between long and short taxi trips. Our findings also reveal substantial differences in network structures between the two cities, highlighting the nuanced relationship between network structure and socio-economic factors. Ultimately, our research sheds light on the underlying mechanisms shaping transportation networks in urban areas and offers valuable insights into urban planning and policy making.

This examination aimed to survey the farmers' participation in watershed management and distinguish significant factors deciding the farmers' participation and cooperation in watershed management practices in the investigation territory. Descriptive statistics and econometric models were utilized for investigation purposes to meet the expressed targets. The sampled farmer families were classified low, medium, and highly dependent on their support score esteems the 4-8, 9-12, and 13-16 participation run separately. The farmers' participation in problem identification and decision making, planning and monitoring and evaluation is shallow in contrast with their participation in the execution level. The Ordered Logit Model outcome uncovered that among the 17 variables estimated to influence the farmers' participation in watershed management, 8 variables were measurably noteworthy with the speculated sign as determinants of farmers' participation in the watershed the executives. Consequently, the family size is positive and significantly influence the farmers' participation; dependency ratio negatively and significantly influences the farmers' participation; more dependency ratio diminishes time, work, and enthusiasm to partake in watershed management practices, education positive and fundamentally influence the farmers' participation, farm size is positive and significantly affect the farmers' participation, the distance of parcel of land from residence positive and altogether influence the farmers' participation, soil fertility positive and altogether influence the farmers' participation, extension contact positive and altogether influence the farmers' participation, farmers households who approach credit were found to have negative and fundamentally influence the farmers' participation. [ABSTRACT FROM AUTHOR]

Copyright of Itobiad: Journal of the Human & Social Science Researches / İnsan ve Toplum Bilimleri Araştırmaları Dergisi is the property of Itobiad: Journal of the Human & Social Science Researches and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper aims to track the research output of the 'Universities with CPEPA status in Karnataka' during 2010-2019 as considering the Web of Science database. The Karnatak University, Dharwad, Bangalore University, Bangalore, and the University of Mysore, Mysore have been selected. A total of 8952 documents have been retrieved consisting of journal articles, conference papers, book chapters, so on. A steady increase in research output has been observed. The University of Mysore (UMM) has the largest number of publications. The study shows that multi-authored papers have greater research influence in receiving citations. The study found the most productive authors and their production impacts in terms of the number of citations (ACPP) and also identified the most occurred keywords and journals used to publishing the research results. For visualisation purposes, VOSviewer and Bibliometrix R Package were used. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Finance Letters / Maliye Finans Yazıları Dergisi is the property of Maliye Finans Yazilari Yayimcilik Ltd. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this study the trend estimation of the participation indices (PARTI) in the Istanbul Stock Exchange (BIST) using artificial neural network (ANN) theory. PARTI can be regarded as the Participation 50 Index (KAT50) and the Participation 30 Index (KATLM). Since KAT50 has only been calculated since 9th July 2014, there are only a few studies on this index. On the other hand, PARTI indices are growing more and more important in global economies, especially in Turkey, England, etc. Therefore, in this study, firstly, we have used ANN method, using 1410 daily closing values of KATLM, between 1st August 2012 and 30th June 2016. For the KAT50 index, we used 720 daily closing values between 9th July 2014 and 29th July 2016. We created a feed-forward back-propagation neural network model in order to predict the trends of these indices and we applied the previously mentioned daily closing values of these participation indices to this model. The results obtained using the ANN method are compared in the figures and tables. It can be concluded that the results of this study are very helpful for individual and institutional investors’ investment decisions within global economies.

Copyright of Kafkas University, Journal of Economics & Administrative Sciences Faculty / Kafkas Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of University of Kafkas, Faculty of Economics & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In order to reveal the macroeconomic effects of the Covid-19 pandemic, financial markets should also be handled in addition to the real sector. Investigating the changes in the stock market may give clues to analyze the effects of the pandemic on financial markets. The researches in question can be carried out for a country group or a single country. Studies that are conducted for a single country allow researchers to analyze problems more precisely and put forward more specific and convenient policy suggestions. Furthermore, while investigating the effect of the pandemic on stock markets, handling conventional and Islamic stock markets together can provide more comparative and realistic data in determining the policies regarding financial markets. The aim of the study is to examine the reaction of conventional and Islamic stock markets to the Covid-19 outbreak in Turkey. In the study, the DCC-GARCH method was applied by using the daily data from Feb 10, 2011 to Sep 02, 2020. The empirical results indicated that Islamic stock markets are more stable to the global Covid-19 outbreak shock than the conventional stock market in Turkey. Based on these findings it can be suggested that Turkey should take steps to support the development of the Islamic financial system to have a sounder financial system. [ABSTRACT FROM AUTHOR]

Copyright of Istanbul Commerce University Journal of Social Sciences / İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi is the property of Istanbul Commerce University Journal of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this study is to demonstrate the relationship between Participation-30 index in Turkey and commodity markets, national, international indexes. Islamic finance is increasingly being the research subject of finance literature. Islamic finance shaped by religious principles and prohibits investing areas that the religion doesn't consider appropriate. In 2011, the Participation-30 index consisting of stocks in accordance with the participation banking principles was created in Turkey. The participation index is a stock exchange index in which stock selections are made based on index rules. Then, in 2014, the Participation-50 index and Model Portfolio index were created, and three participation indexes were started to be calculated. Islamic finance mainly operates on the basis of profit and loss sharing and supports the real sector. In this context the activity fields of the companies which are operating in participation indexes are based on production of goods and services so that the indexes have a special importance for commodity markets and commodity indexes. As the results of our research, one-way causality between Participation-30 index and Dow Jones Islamic Market was determined. However, we determined bi-directional causality between Participation-30 index and BIST 100 index. [ABSTRACT FROM AUTHOR]

In the paper, we first thoroughly examine and prove properties of the participation index of spatio-temporal sequential patterns. Then, we introduce notions of a closure of a spatio-temporal sequential pattern and a closed spatio-temporal sequential pattern, as well as investigate and prove their properties. In particular, we prove that the set of all participation index strong closed spatio-temporal sequential patterns constitues a lossless representation of all participation index strong spatio-temporal sequential patterns. We also propose an algorithm, called CST-SPMiner, for discovering all participation index strong closed spatio-temporal sequential patterns. CST-SPMiner is an adaptation of the STBFM algorithm, which was proposed recently for the discovery of spatio-temporal sequential patterns with high participation index. While STBFM uses the CSP-tree structure for time-efficient candidate patterns generation and evaluation, CST-SPMiner uses it also for fast identification of closed patterns. Efficiency and effectiveness of our algorithm were verified on real crime data for Boston. [ABSTRACT FROM AUTHOR]

The aim of this article is to investigate the influence of market interest rate on Participation 30 index companies. The interest rate of Turkish government bonds traded in the secondary market was used for representing market interest rate. The study uses a panel data of 41 Participation index companies from 2011 to 2017. Using LM bootstrap panel cointegration test, we obtained results showing that the market interest rate affects the stock prices of P30 index companies. This effect is negative for ALBRK, KONYA, BAGFS, KOZAL and PRKME, but positive for all other companies. The least affected company from market interest rate is TTKOM, while the most affected company is LOGO. Moreover, it is noteworthy that 5 of the 10 companies with the lowest long-run coefficient are operating in the construction-raw material industry. [ABSTRACT FROM AUTHOR]

In this study the trend estimation of the participation indices (PARTI) in the Istanbul Stock Exchange (BIST) using artificial neural network (ANN) theory. PARTI can be regarded as the Participation 50 Index (KAT50) and the Participation 30 Index (KATLM). Since KAT50 has only been calculated since 9th July 2014, there are only a few studies on this index. On the other hand, PARTI indices are growing more and more important in global economies, especially in Turkey, England, etc. Therefore, in this study, firstly, we have used ANN method, using 1410 daily closing values of KATLM, between 1st August 2012 and 30th June 2016. For the KAT50 index, we used 720 daily closing values between 9th July 2014 and 29th July 2016. We created a feed-forward back-propagation neural network model in order to predict the trends of these indices and we applied the previously mentioned daily closing values of these participation indices to this model. The results obtained using the ANN method are compared in the figures and tables. It can be concluded that the results of this study are very helpful for individual and institutional investors' investment decisions within global economies. [ABSTRACT FROM AUTHOR]

This paper discusses the Harsanyi power solution for cooperative games in which cooperation among players is based on an arbitrary collection of feasible coalitions. We define the Harsanyi power solution as a value which distributes the Harsanyi dividends such that the dividend shares of players in each feasible coalition are proportional to the corresponding players' participation index, (i.e., a power measure for players in the cooperation restrictions). When all coalitions can be formed in a game, the Harsanyi power solution coincides with the Shapley value. We provide two axiomatic characterizations for the Harsanyi power solution: one uses component efficiency and participation fairness, and the other uses efficiency and participation balanced contributions. Meanwhile, we show that the axioms of each axiomatization are logically independent. The study also shows that the Harsanyi power solution satisfies several other properties such as additivity and inessential player out. In addition, the Harsanyi power solution is the unique value that admits the $$\lambda $$ -potential. [ABSTRACT FROM AUTHOR]

The purpose of this paper is threefold. First, we review the mechanisms and determinants of vertical specialization (VS), as this has gradually become the dominant characteristic of international trade. Second, we underline that there is a rich literature regarding VS in EU trade, at aggregate and individual levels and research is advancing together with the instruments used to measure trade in value added. Third, our investigation brings to the forefront a classification of EU countries according to their GVC participation index, taking into consideration both upstream and downstream links. As a conclusion, the VS analyses help us better understand the interconnectedness among countries and industries by means of foreign direct investment, trade, labour migration and technology transfer.