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Article
Publication date: 8 February 2024

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.

Details

Review of Behavioral Finance, vol. 16 no. 4
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 5 September 2016

Veena L. Brown, Jodi L. Gissel and Daniel Gordon Neely

In an effort to develop an audit quality (AQ) framework specific to the US audit market, the Public Company Accounting Oversight Board (PCAOB) recently issued a concept release…

13505

Abstract

Purpose

In an effort to develop an audit quality (AQ) framework specific to the US audit market, the Public Company Accounting Oversight Board (PCAOB) recently issued a concept release proposing 28 audit quality indicators (AQIs) along three dimensions: audit professionals, audit process and audit results. Using AQIs initially proposed by the PCAOB, as well as AQIs suggested by prior literature, the authors solicit perceptions from junior-level (senior and staff) auditors to investigate the current state of practice along many of the AQIs relating to audit professionals and audit process.

Design/methodology/approach

In the study, 78 junior-level auditors responded to the survey.

Findings

An analysis of the responses suggests auditors engage in activities and audit firms promote conditions that at times improve, and at other times, reduce audit quality. The authors find that individual auditors’ perceptions differ across experience level, gender and audit firm size for certain AQIs.

Practical implications

The study is useful to the PCAOB because it provides insights to help assess the value of potential AQIs in differentiating AQ. The study is also useful to other regulators because it describes audit staff and seniors’ perceptions of apparent firm and auditor compliance with accounting and auditing standards. Practitioners should find this information useful in helping to identify possible root causes of audit deficiencies, a challenge put forth to firms by the PCAOB.

Originality/value

This study provides academia with evidence on AQ from practicing auditors, which informs existing and future research along. The study complements existing work by showing how individual auditor characteristics (experience and gender) at the junior levels may impact AQ in practice

Details

Managerial Auditing Journal, vol. 31 no. 8/9
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 1 October 2005

F. Franceschini, M. Galetto and D. Maisano

Analysis and comparison of three existing indicators of the air quality: the American air quality index, the French Atmo, and the Italian Indice di Qualità dell'Aria.

Abstract

Purpose

Analysis and comparison of three existing indicators of the air quality: the American air quality index, the French Atmo, and the Italian Indice di Qualità dell'Aria.

Design/methodology/approach

International general and organic regulations to control air quality do not exist yet. Consequently many countries have independently implemented specific indicators to monitor the air pollution and then alert people of resulting health risks. The paper focuses on three of them. Each one is independently presented showing the peculiarities. Therefore, these indicators are compared to identify the features they have in common, as well as those that set them apart, and to figure out which are either restrictive or permissive, and what are their qualities and drawbacks.

Findings

The three mentioned indicators convert the real health risk due to air pollution into numerical information, in different ways. Doing this, they carry out some simplifications or assumptions, which can be questionable. The main difficulty is to understand if the indicators aggregate the different pollutant concentrations consistently with the real effects on human health.

Research limitations/implications

This paper analyses only three specific indicators of the air quality, selected among the existing ones.

Practical implications

Indicators should carefully be analysed to understand if they properly represents the real effects of pollutants on human health. The most critical aspect to consider is the aggregation of the different pollutant concentrations in one information.

Originality/value

This paper analyses the efficacy of representation of some air quality indicators. It discusses if indicators aggregation is consistent with the real effects on human health.

Details

Management of Environmental Quality: An International Journal, vol. 16 no. 5
Type: Research Article
ISSN: 1477-7835

Keywords

Article
Publication date: 2 November 2021

Muhammad Shahbaz, Avik Sinha and Muhammad Ibrahim Shah

Over the last couple of years, the Chinese manufacturing sector was affected by the onset of the US–China trade war and the outbreak of coronavirus disease 2019 (COVID-19). In…

Abstract

Purpose

Over the last couple of years, the Chinese manufacturing sector was affected by the onset of the US–China trade war and the outbreak of coronavirus disease 2019 (COVID-19). In such a scenario air quality in China has encountered a shock, and the impacts of these two incidents are unknown. In this study, the authors analyze the convergence of air quality in China in the presence of multiple structural breaks and how the impacts of these two events are different from each other.

Design/methodology/approach

In order to assess the nature of shocks in the presence of multiple structural breaks, unit root tests with multiple structural breaks are employed.

Findings

The results reveal that air quality in China is showing the sign of convergence, and it is consistent across 18 provinces which are worst hit by the outbreak of COVID-19. In the presence of transitory shocks, the impact of COVID-19 outbreak is found to be higher, whereas the impact of the US–China trade war is found to be more persistent. Lastly, the outbreak of COVID-19 has been found to have more impact on pollutants with higher severity of health hazard.

Originality/value

To the best of the authors’ knowledge, this is the first study that contributes to the empirical literature in terms of investigating the convergence of overall air pollution and individual air pollutants taking COVID-19 and the trade war into account.

Details

Management of Environmental Quality: An International Journal, vol. 33 no. 2
Type: Research Article
ISSN: 1477-7835

Keywords

Book part
Publication date: 6 February 2023

Shrabanti Maity, Ummey Rummana Barlaskar and Nandini Ghosh

This study aims to explore twin objectives. Initially, the study scrutinises the consequences of various pollution control acts and protocols signed by India to improve the air…

Abstract

This study aims to explore twin objectives. Initially, the study scrutinises the consequences of various pollution control acts and protocols signed by India to improve the air quality and then the study involves itself to investigate the aftermath of COVID-19 lockdown on the air quality of highly populated Mumbai city of India. The empirical analysis is facilitated by the application of Poirier’s Spline function approach on the secondary data compiled from the Maharashtra Pollution Control Board (MPCB). The corresponding structural shifting points are identified through the CUSUM of squares (CUSUMQ) test. The empirical results disclose that Kyoto Protocol and lockdown have positively influenced the air quality. This study ends with suitable policy prescriptions.

Details

The Impact of Environmental Emissions and Aggregate Economic Activity on Industry: Theoretical and Empirical Perspectives
Type: Book
ISBN: 978-1-80382-577-9

Keywords

Article
Publication date: 20 April 2010

J.A. Sonibare, F.M. Adebiyi, E.O. Obanijesu and O.A. Okelana

The aim of this paper is to better understand the impact of petroleum production facilities on ambient air quality of host airshed.

Abstract

Purpose

The aim of this paper is to better understand the impact of petroleum production facilities on ambient air quality of host airshed.

Design/methodology/approach

Field measurements were taken daily for four consecutive months around petroleum production facilities in the Niger Delta area, of Nigeria, one of the world's important petroleum producing areas. Statistical analysis tool and air quality analytical tool known as the air quality index (AQI) were applied on the field data obtained.

Findings

The mean measured daily concentrations of both carbon monoxide (CO) and nitrogen dioxide (NO2) between distances 50 and 500 m of petroleum flow stations were of the range 140 – 3400 μg/m3 and 23 – 1250 μg/m3 respectively. The AQI from measured CO concentrations in the study area ranged between 1 and 44, an indication of good AQI category with no known health effects but a need for cautionary statement. Similarly, over 97 percent of the measured concentrations of NO2 were below 0.60 ppm which implies that the AQI of the host environment of the flow stations were below 200 with respect to NO2 thus indicating a good category of air with no health alarm. However, at the 60 m distance around a flow station, the AQI was 210 thus the quality of available air at this point could be described as very unhealthy. Generally the concentrations of CO were higher than NO2 in all the distances from the flow stations and were corroborated with their significant T‐test values. The T‐test results of the relationship between the concentrations of the air pollutants per time of the day, showed that their T‐test values were not significant, indicating that concentrations of these air pollutants were independent of the sampling time. A strong and positive correlation existed between the two air pollutants signifying common sources.

Originality/value

The paper highlights that at 60 m distance around petroleum production facilities, people with respiratory or heart disease, the elderly and children should be prevented from gaining access in the morning without taking necessary precautionary measures against the inhalation of air pollutants.

Details

Management of Environmental Quality: An International Journal, vol. 21 no. 3
Type: Research Article
ISSN: 1477-7835

Keywords

Expert briefing
Publication date: 11 April 2024

The authorities do not appear especially concerned about the threat posed by the group, but there is sure to be an overall tightening of security during the general election…

Open Access
Article
Publication date: 15 December 2023

Francis Olawale Abulude, Domenico Suriano, Samuel Dare Oluwagbayide, Akinyinka Akinnusotu, Ifeoluwa Ayodeji Abulude and Emmanuel Awogbindin

This study aimed to characterize the concentrations of indoor pollutants (such as carbon dioxide (CO2), ozone (O3), nitrogen dioxide (NO2) and sulfur dioxide (SO2), as well as…

Abstract

Purpose

This study aimed to characterize the concentrations of indoor pollutants (such as carbon dioxide (CO2), ozone (O3), nitrogen dioxide (NO2) and sulfur dioxide (SO2), as well as particulate matter (PM) (PM1, PM2.5 and PM10) in Akure, Nigeria, as well as the relationship between the parameters’ concentrations.

Design/methodology/approach

The evaluation, which lasted four months, used a low-cost air sensor that was positioned two meters above the ground. All sensor procedures were correctly carried out.

Findings

CO2 (430.34 ppm), NO2 (93.31 ppb), O3 (19.94 ppb), SO2 (40.87 ppb), PM1 (29.31 µg/m3), PM2.5 (43.56 µg/m3), PM10 (50.70 µg/m3), temperature (32.4°C) and relative humidity (50.53%) were the average values obtained. The Pearson correlation depicted the relationships between the pollutants and weather factors. With the exception of April, which had significant SO2 (18%) and low PM10 (49%) contributions, NO2 and PM10 were the most common pollutants in all of the months. The mean air quality index (AQI) for NO2 indicated that the AQI was “moderate” (51–100). In contrast to SO2, whose AQI ranged from “moderate” to “very unhealthy,” O3's AQI ranged from “good” (50) to “unhealthy” (151–200). Since PM1, PM2.5 and PM10 made up the majority of PC1’s contribution, both PM2.5 and PM10 were deemed “hazardous.”

Practical implications

The practical implication of indoor air pollution is long-term health effects, including heart disease, lung cancer and respiratory diseases such as emphysema. Indoor air pollution can also cause long-term damage to people’s nerves, brain, kidneys, liver and other organs.

Originality/value

Lack of literature in terms of indoor air quality (IAQ) in Akure, Ondo State. With this work, the information obtained will assist all stakeholders in policy formulation and implementation. Again, the low-cost sensor used is new to this part of the world.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

Open Access
Article
Publication date: 4 May 2021

Rachida El Morabet, Roohul Abad Khan, Soufiane Bouhafa and Larbi Barhazi

Air quality and its assessment in urban areas has become a necessity. This is attributed to the increasing air pollution in urban landscape from anthropogenic activities necessary…

Abstract

Purpose

Air quality and its assessment in urban areas has become a necessity. This is attributed to the increasing air pollution in urban landscape from anthropogenic activities necessary for economic growth and development. This study investigates air quality and potential health risk posed from nitrogen dioxide (NO2) to the residents of low town of Mohammedia city, Morocco.

Design/methodology/approach

The NO2 concentration was measured on an hourly basis for the winter season of the year 2014, 2015 and 2016. The air quality was assessed in terms of Air Quality Index (AQI). Noncarcinogenic risk assessment was done to evaluate possible health risk to the inhabitant of low town from NO2 exposure.

Findings

The maximum concentration reached 85–96 µg/m3 (at 6 p.m., 2014), 96–104 µg/m3 (7–9 p.m., 2015) and 102–117 (8–11 p.m., 2016). The AQI during maximum NO2 levels (peak hours) ranged between 0–50 µg/m3 (good) to 51–100 µg/m3 (unhealthy for sensitive group). The risk quotient (RQ) was calculated for average daily intake and average hourly intake of NO2. RQ was found to be less than 1 (no potential health risk, lifetime and hourly) for all three years. However, increase in RQ value from 0.84 (2014) to 0.98 (2016) indicates increase in potential health risk. Hence, policy and measures should be adopted to reduce the potential health risk.

Originality/value

This study is very first of its kind for the area and hence can serve as reference study for future works. Further studies are required to assess air pollution in other seasons (summer, spring, autumn), impact of climatic condition and parameters on air quality. Also, for direct impact assessment number of cases attributed to air pollution needs to be investigated.

Details

Frontiers in Engineering and Built Environment, vol. 1 no. 1
Type: Research Article
ISSN: 2634-2499

Keywords

Article
Publication date: 29 April 2021

Lalit Bhagat, Gunjan Goyal, Dinesh C.S. Bisht, Mangey Ram and Yigit Kazancoglu

The purpose of this paper is to provide a better method for quality management to maintain an essential level of quality in different fields like product quality, service quality…

Abstract

Purpose

The purpose of this paper is to provide a better method for quality management to maintain an essential level of quality in different fields like product quality, service quality, air quality, etc.

Design/methodology/approach

In this paper, a hybrid adaptive time-variant fuzzy time series (FTS) model with genetic algorithm (GA) has been applied to predict the air pollution index. Fuzzification of data is optimized by GAs. Heuristic value selection algorithm is used for selecting the window size. Two algorithms are proposed for forecasting. First algorithm is used in training phase to compute forecasted values according to the heuristic value selection algorithm. Thus, obtained sequence of heuristics is used for second algorithm in which forecasted values are selected with the help of defined rules.

Findings

The proposed model is able to predict AQI more accurately when an appropriate heuristic value is chosen for the FTS model. It is tested and evaluated on real time air pollution data of two popular tourism cities of India. In the experimental results, it is observed that the proposed model performs better than the existing models.

Practical implications

The management and prediction of air quality have become essential in our day-to-day life because air quality affects not only the health of human beings but also the health of monuments. This research predicts the air quality index (AQI) of a place.

Originality/value

The proposed method is an improved version of the adaptive time-variant FTS model. Further, a nature-inspired algorithm has been integrated for the selection and optimization of fuzzy intervals.

Details

The TQM Journal, vol. 35 no. 1
Type: Research Article
ISSN: 1754-2731

Keywords

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