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Anirudh Singh and Madhumita Chakraborty
This paper analyzes how air pollution and the public attention to it influence the returns of stocks in the Indian context.
Abstract
Purpose
This paper analyzes how air pollution and the public attention to it influence the returns of stocks in the Indian context.
Design/methodology/approach
The study uses firm-level data for the stocks listed on National Stock Exchange in India. Air quality is measured using the Air Quality Index (AQI) values provided by US Embassy and Consulates’ Air Quality Monitor in India. Google Search Volume Index (GSVI) of the relevant terms acts as the measure of public attention. Appropriate regression models are used to address how AQI and attention influence stock returns.
Findings
It is observed that degrading air quality alone is unable to explain the stock returns. It is the combined effect of increasing AQI and subsequent rise in associated public attention that negatively impacts these returns. Returns of firms with poor environment score component in their environmental, social, governance (ESG) scores are more negatively affected compared to firms with higher environment scores.
Practical implications
Investors can make use of this knowledge to formulate effective trading strategies and ensure higher chances of profitability in the share market.
Originality/value
To the knowledge of the authors, no earlier study has investigated the effects of AQI and attention together to explain stock price movements. The study is conducted in the Indian context providing a unique opportunity to study the behavioral impact of these effects in one of the fastest growing global economies, which is also plagued by an alarming increase in ambient air pollution.
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A strong grain and vegetable harvest, and increased animal husbandry production, means that Russia remains a key player in international food markets. During the first nine months…
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DOI: 10.1108/OXAN-DB283735
ISSN: 2633-304X
Keywords
Geographic
Topical
Khushboo Aggarwal and Mithilesh Kumar Jha
The purpose of this paper is to examine the existence of the day-of-the-week effect in the Indian stock market.
Abstract
Purpose
The purpose of this paper is to examine the existence of the day-of-the-week effect in the Indian stock market.
Design/methodology/approach
Generalized Autoregressive Conditional Heteroskedasticity (GARCH) (1, 1), Exponential GARCH (EGARCH) (1, 1) and Threshold GARCH (TGARCH) (1, 1) models are employed to examine the day-of-the-week effect in the Indian stock market for the period of 28 years from 3rd July, 1990 to 31st March, 2022.
Findings
The empirical results derived from the GARCH models indicate the existence of day-of-the-week effects on stock returns and volatility of the Indian stock market. The study reveals that all the days of the week are positive and significant in National Stock Exchange (NSE)-Nifty market returns. The findings confirm the persistence of ARCH and GARCH effects in the daily return series. Moreover, the asymmetric GARCH models show that the daily stock returns exhibit significant asymmetric (leverage) effects.
Practical implications
The results of this study established that the Indian stock market is not efficient and there exists an opportunity to the traders for predicting the future prices and earning abnormal profits in the Indian stock market. The findings of the study are important for traders, investors and portfolio managers to earn abnormal returns by cross-border diversification.
Originality/value
First, to the best of the authors' knowledge, this paper is the first to study the day-of-the-week effect in Indian stock market considering the most recent and longer time period (1990–2022). Second, unlike previous research, this study used GARCH models (GARCH, EGARCH and TGARCH) to capture the volatility clustering in the data.
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Zhiwei Zhang, Zhe Liu, Yanzi Miao and Xiaoping Ma
This paper aims to develop a robust navigation enhancement framework to handle one of the most urgent needs for real applications of autonomous vehicles nowadays, as these corner…
Abstract
Purpose
This paper aims to develop a robust navigation enhancement framework to handle one of the most urgent needs for real applications of autonomous vehicles nowadays, as these corner cases act as the most commonly occurred risks in potential self-driving accidents.
Design/methodology/approach
In this paper, the main idea is to fully exploit the consistent features among spatio-temporal data and thus detect the anomalies and build residual channels to reconstruct the abnormal information. The authors first develop an anomaly detection algorithm, then followed by a corresponding disturbed information reconstruction network which has strong robustness to address both the nature disturbances and external attacks. Finally, the authors introduce a fully end-to-end resilient navigation performance enhancement framework to improve the driving performance of existing self-driving models under attacks and disturbances.
Findings
Comparison results on CARLA platform and real experiments demonstrate strong resilience of the authors’ approach which enhances the navigation performance under disturbances and attacks.
Originality/value
Reliable and resilient navigation performance under various nature disturbances and even external attacks is one of the most urgent needs for real applications of autonomous vehicles nowadays, as these corner cases act as the most commonly occurred risks in potential self-driving accidents. The information reconstruction approach provides a resilient navigation performance enhancement method for existing self-driving models.
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Argaw Gurmu and Pabasara Wijeratne Mudiyanselage
Most residential building owners often report problems associated with the plumbing systems. If identified at the early stages, plumbing-related defects can be easily repaired…
Abstract
Purpose
Most residential building owners often report problems associated with the plumbing systems. If identified at the early stages, plumbing-related defects can be easily repaired. However, if unnoticed for a long period of time, they could lead to major damages and incur a significant cost to repair. Despite the problems, studies investigating plumbing anomalies and their root causes in residential buildings are limited. This study aims to explore plumbing defects and their potential causes, diagnosis methods and repair techniques in residential buildings.
Design/methodology/approach
This research used data collected through an extensive survey of both academic and grey literature. Through the content analysis, plumbing defects and the associated causes have been identified and presented in tabular format.
Findings
The study investigated the anomalies and causes in the residential plumbing system under five key sub-systems: water supply system; sanitary plumbing system; roof drainage system; heating, ventilation, air conditioning and gas system; and swimming pool. Accordingly, some of the identified plumbing defects include leakages, corrosion, water penetration, slow drainage and cracks. Damaged pipes, faulty equipment and installations are some of the common causes of the anomalies. Visual inspection, hydrostatic pressure test, thermography, high-tech pipe cameras, infrared cameras, leak noise correlators and leak loggers are techniques used for diagnosing anomalies. Reactive, preventive, predictive and reliability-centred maintenance strategies are identified to control or prevent anomalies.
Originality/value
The findings of this research can be used as a useful tool or guideline for contractors, plumbers, facilities managers and building surveyors to identify and rectify plumbing system-related defects in residential buildings.
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Betty Amos Begashe, John Thomas Mgonja and Salum Matotola
This study aims to explore the connection between demographic traits and the choice of attraction patterns among international repeat tourists.
Abstract
Purpose
This study aims to explore the connection between demographic traits and the choice of attraction patterns among international repeat tourists.
Design/methodology/approach
The study employed a questionnaire survey to collect data from 1550 international repeat tourists who visited Tanzania between November 2022 and July 2023. Convenient sampling was employed as tourists were selected from the three international airports of Tanzania, namely Kilimanjaro International Airport, Julius Nyerere International Airport, and Abeid Aman Karume International Airport. A multinomial logistic regression model was used to examine the impact of socio-demographic characteristics on the selection of attraction patterns among international repeat tourists.
Findings
The study revealed that demographic factors, including age, marital status, income level, occupation, and education level, exhibit statistically significant correlations with preferences for distinct attraction patterns. This significance was established through a p-value of less than 0.05 for all the aforementioned variables.
Research limitations/implications
This study is primarily focused on international repeat tourists, thereby limiting insights into the preferences of domestic tourists. To better inform strategies aimed at attracting a larger domestic tourist base, future research may prioritize the investigation of choice of attractions patterns among domestic tourists in relation to their demographic characteristics.
Originality/value
This study contributes to the nuanced understanding of international tourist behavior by unraveling the extent to which demographic traits impact tourists’ choices of attraction patterns, thereby providing insights crucial for effective marketing strategies, improved visitor experiences, and sustainable tourism development strategies.
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Ventura Charlin and Arturo Cifuentes
The climate in Mendoza is significantly different from the climate in most global wine-making regions. This paper aims to explore the relationship between the quality of the…
Abstract
Purpose
The climate in Mendoza is significantly different from the climate in most global wine-making regions. This paper aims to explore the relationship between the quality of the Malbec wine from the Mendoza region and its weather.
Design/methodology/approach
This study uses a multivariate regression model with fixed effects to assess how weather variations relate to wine quality. The Wine Spectator ratings are used as a measure of wine quality and to build a longitudinal data set of Malbec wine ratings from 1995 to 2020. The weather is described with several variables based on temperature, rainfall, humidity and cloudiness data from the Mendoza region. The model controls for wineries which are treated as fixed effects.
Findings
The results of this study indicate that the weather has a modest explanatory power when it comes to the quality of Mendoza’s Malbec. Additionally, the analyses show that the wineries are more important than the weather to explain quality differences in the wines. These findings are in agreement with previous studies carried out in regions with stable weather such as California and Australia.
Practical implications
The quality of Mendoza’s Malbec depends more on the winery of origin than the year-to-year weather variations. Therefore, consumers should focus more on the winery and less on the vintage when making purchasing decisions. Additionally, given the relevance of the winery in relation to quality, the findings of this study indicate that future research efforts should focus on directly linking the wine ratings to quality-drivers behind the winery effects.
Originality/value
To the best of the authors’ knowledge, this is the first study that explores the relationship between wine quality assessed through wine ratings and the weather in the Mendoza (Argentina) region. Most such studies have been done in connection with northern hemisphere wines.
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Ameha Tadesse Aytenfisu, Degefa Tolossa, Solomon Tsehay Feleke and Desalegn Yayeh Ayal
This study aims to examine the phenomenon of climate variability and its implications for pastoralists and agro-pastoralists food security in Amibara and Awash Fentale districts…
Abstract
Purpose
This study aims to examine the phenomenon of climate variability and its implications for pastoralists and agro-pastoralists food security in Amibara and Awash Fentale districts of the Afar region, Ethiopia.
Design/methodology/approach
The study relied on meteorological records of temperature and rainfall in the study area between 1988 and 2018. Besides, literature on the topic was reviewed to make caveats on the literal picture that comes from quantitative data, and that is the contribution of this study to the existing debate on climate change and variability. The spatiotemporal trend was determined using the Mann–Kendall test and Sen’s slope estimator, while variability was analyzed using the coefficient of variation and standardized anomaly index, and standardized precipitation index/standardized precipitation evapotranspiration index were applied to determine the drought frequency and severity.
Findings
The result reveals that the mean seasonal rainfall varies from 111.34 mm to 518.74 mm. Although the maximum and minimum rainfall occurred in the summer and winter seasons, respectively, there has been a decrease in seasonal and annual at the rate of 2.51 mm per season and 4.12 mm per year, respectively. The study sites have been experiencing highly seasonal rainfall variability. The drought analysis result confirms that a total of nine agricultural droughts ranging from moderate to extreme years were observed. Overall, the seasonal and annual rainfall of the Amibara and Awash Fentale districts showed a decreasing trend with highly temporal variations of rainfall and ever-rising temperatures, and frequent drought events means the climate situation of the area could adversely affect pastoral and agro-pastoral households’ food security. However, analysis of data from secondary sources reveals that analyzing precipitation just based on the meteorological records of the study area would be misleading. That explains why flooding, rather than drought, is becoming the main source of catastrophe to pastoral and agro-pastoral livelihoods.
Practical implications
The analysis of temperature and rainfall dynamics in the Afar region, hence the inception of all development interventions, must take the hydrological impact of the neighboring regions which appears to be useful direction to future researchers.
Originality/value
The research is originally conducted using meteorological and existing literature, and hence, it is original. In this research, we utilized a standardized and appropriate methodology, resulting in insights that augment the existing body of knowledge within the field. These insights serve to advance scholarly discourse on the subject matter.
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Xue Xin, Yuepeng Jiao, Yunfeng Zhang, Ming Liang and Zhanyong Yao
This study aims to ensure reliable analysis of dynamic responses in asphalt pavement structures. It investigates noise reduction and data mining techniques for pavement dynamic…
Abstract
Purpose
This study aims to ensure reliable analysis of dynamic responses in asphalt pavement structures. It investigates noise reduction and data mining techniques for pavement dynamic response signals.
Design/methodology/approach
The paper conducts time-frequency analysis on signals of pavement dynamic response initially. It also uses two common noise reduction methods, namely, low-pass filtering and wavelet decomposition reconstruction, to evaluate their effectiveness in reducing noise in these signals. Furthermore, as these signals are generated in response to vehicle loading, they contain a substantial amount of data and are prone to environmental interference, potentially resulting in outliers. Hence, it becomes crucial to extract dynamic strain response features (e.g. peaks and peak intervals) in real-time and efficiently.
Findings
The study introduces an improved density-based spatial clustering of applications with Noise (DBSCAN) algorithm for identifying outliers in denoised data. The results demonstrate that low-pass filtering is highly effective in reducing noise in pavement dynamic response signals within specified frequency ranges. The improved DBSCAN algorithm effectively identifies outliers in these signals through testing. Furthermore, the peak detection process, using the enhanced findpeaks function, consistently achieves excellent performance in identifying peak values, even when complex multi-axle heavy-duty truck strain signals are present.
Originality/value
The authors identified a suitable frequency domain range for low-pass filtering in asphalt road dynamic response signals, revealing minimal amplitude loss and effective strain information reflection between road layers. Furthermore, the authors introduced the DBSCAN-based anomaly data detection method and enhancements to the Matlab findpeaks function, enabling the detection of anomalies in road sensor data and automated peak identification.
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