Search results

Stirred by scant regard for market phases in portfolio performance assessments, the current paper investigates the active versus passive investment strategies under the bull and bear market conditions in emerging markets focusing on South Africa as a case study.

Methodologically, the measures of Jensen's alpha and Treynor index are applied to the monthly returns of 20 funds from January 2010 to June 2022.

The results are enlightening; though they contradict developed market evidence, they are consistent with emerging market trends. The findings show that actively managed funds outperform the market benchmark and passive investing style under bear and normal market conditions. Passive investment strategy outperforms both market benchmark and actively investing style under bull market conditions.

In the face of improved market efficiency, increased liquidity and recent technological impact, the findings of this study have practical application. The study outcomes should inform and update global investors, especially asset managers interested in emerging markets; however, the limitations of the study should also be considered.

While limited studies consider market conditions when comparing and contrasting the performance of passive versus active investing, such consideration is lacking in emerging markets. The current study corrects this literature imbalance.

The safety of high-speed rail operation environments is an important guarantee for the safe operation of high-speed rail. The operating environment of the high-speed rail is complex, and the main factors affecting the safety of high-speed rail operating environment include meteorological disasters, perimeter intrusion and external environmental hazards. The purpose of the paper is to elaborate on the current research status and team research progress on the perception of safety situation in high-speed rail operation environment and to propose directions for further research in the future.

In terms of the mechanism and spatio-temporal evolution law of the main influencing factors on the safety of high-speed rail operation environments, the research status is elaborated, and the latest research progress and achievements of the team are introduced. This paper elaborates on the research status and introduces the latest research progress and achievements of the team in terms of meteorological, perimeter and external environmental situation perception methods for high-speed rail operation.

Based on the technical route of “situational awareness evaluation warning active control,” a technical system for monitoring the safety of high-speed train operation environments has been formed. Relevant theoretical and technical research and application have been carried out around the impact of meteorological disasters, perimeter intrusion and the external environment on high-speed rail safety. These works strongly support the improvement of China’s railway environmental safety guarantee technology.

With the operation of CR450 high-speed trains with a speed of 400 km per hour and the application of high-speed train autonomous driving technology in the future, new and higher requirements have been put forward for the safety of high-speed rail operation environments. The following five aspects of work are urgently needed: (1) Research the single factor disaster mechanism of wind, rain, snow, lightning, etc. for high-speed railways with a speed of 400 kms per hour, and based on this, study the evolution characteristics of multiple safety factors and the correlation between the high-speed driving safety environment, revealing the coupling disaster mechanism of multiple influencing factors; (2) Research covers multi-source data fusion methods and associated features such as disaster monitoring data, meteorological information, route characteristics and terrain and landforms, studying the spatio-temporal evolution laws of meteorological disasters, perimeter intrusions and external environmental hazards; (3) In terms of meteorological disaster situation awareness, research high-precision prediction methods for meteorological information time series along high-speed rail lines and study the realization of small-scale real-time dynamic and accurate prediction of meteorological disasters along high-speed rail lines; (4) In terms of perimeter intrusion, research a multi-modal fusion perception method for typical scenarios of high-speed rail operation in all time, all weather and all coverage and combine artificial intelligence technology to achieve comprehensive and accurate perception of perimeter security risks along the high-speed rail line and (5) In terms of external environment, based on the existing general network framework for change detection, we will carry out research on change detection and algorithms in the surrounding environment of high-speed rail.

Despite the proliferation of cyberthreats upon the supply chain (SC) at large, knowledge on SC cybersecurity is scarce and predominantly conceptual or descriptive. Addressing this gap, this research examines the effect of SC cyber risk management strategies on integration decisions for cybersecurity (with suppliers, customers, and internally) to enhance the SC’s cyber resilience and robustness.

A research model grounded in the supply chain risk management (SCRM) literature, with roots in the Dynamic Capabilities View and the Relational View, was developed. Survey responses of 388 SC managers at US manufacturers were obtained to test the model.

An impact of SC cyber risk management strategies on internal cyber integration was detected, which in turn impacted external cyber integration with both suppliers and customers. Further, a positive effect of internal and customer cyber integration on both cyber resilience and robustness was found, while cyber integration with suppliers impacted neither.

Industry practitioners may adapt certain risk management and integration strategies to enhance the cybersecurity posture of their SCs.

This research bridges between the established domain of SCRM and the emergent field of SC cybersecurity by forming and testing novel relationships between SCRM-rooted constructs tailored to an SC cyber risks context.

This paper aims to provide a conceptual understanding of the drivers and outcomes of actor opportunism in the context of the three key actors of the sharing economy – the service provider, the platform and the consumer.

The research uses a conceptual approach by drawing on literature from within and outside of marketing.

The current research introduces a conceptual framework of opportunism in the sharing economy with seven underlying propositions. The framework posits a U-shaped moderating effect of social capital for the relationship between opportunism and its drivers, actor vulnerability and asset specificity. Furthermore, a 2 × 2 matrix consisting of two types of opportunistic behaviors (active and passive) and two coping strategies by other actors (defensive and nondefensive) suggests that passive opportunism tends to lead to value codestruction independently of the coping strategies employed by other actors. Counterintuitively, the combination of active opportunism and defensive coping strategy presents an opportunity for value cocreation due to its potential to break up older structures and generate new ones.

While our research provides a higher-level understanding of opportunism pertaining to platform, consumers and service providers in the sharing economy, future research could situate our framework within specific regulatory environments, incorporate the role of competitors and examine individual interaction effects between type of opportunism and coping strategies.

The framework enables service providers, platforms and consumers to identify drivers of opportunistic behaviors of their partners and discern instances in which opportunistic behaviors lead to value codestruction for all actors.

This research transcends prior work on the bright and dark sides of the sharing economy by identifying its dynamic nature and examining the contributing role of opportunism.

The purpose of this study was to examine the relationship between online banking fraud experience and fear of cybercrime and distrust of online banking services, and to understand how perceived usefulness of online banking moderates the relationship.

The number of respondents involved in this study was 271 people from the Central Java region, Indonesia. Statistical analysis was performed using Jeffreys’s Amazing Statistics Program software to examine the relationships and interactions between the variables studied.

Experience of online banking fraud is positively related to fear of cybercrime and distrust of online banking services. Perceived usefulness of online banking moderates the relationship between online banking fraud experience and fear of cybercrime and distrust of digital payments. Perceived usefulness is negatively related to the level of distrust of online banking services.

Overall, the implications of this study underscore the importance of dealing with the risks of cybercrime in online banking services. By focusing on security, user awareness and the role of perceived usefulness, banking service providers can create a safer and more trusting environment for users of online banking services. This also contributes to the development of more innovative services and can increase customer satisfaction and trust.

The practical application of these findings is important for financial institutions and online banking service providers. Companies must improve cybersecurity with the latest technology and provide education about online security practices. Transparent communication and better customer service will help overcome customer fears. Compliance with security regulations and technological innovation is also important to protect online banking services. With these steps, customer security and trust can be improved, and the adoption of online banking services will increase widely.

The social implications of this research are increasing public awareness about cybersecurity, consumer protection and strengthening trust in online banking services. With joint efforts, a safer and more trusting environment in using online banking services can be realized.

The originality of this research lies in the use of perceived usefulness of online banking as a moderating variable to reduce the negative impact of online banking fraud experience. With a focus on the psychological effects of customers experiencing fraud, this research seeks to rebuild trust and improve the security of online banking services.

The study aims to assess military procurement strategy in NATO countries labelled as emerging markets (Czechia, Slovakia and Lithuania) and capitalist Norway, which vary in national culture as indicated by the Hofstede Culture Compass.

This comparative case study analyses the procurement of a simple, mass-produced, off-the-shelf military product (FN Herstal MINIMI gun) in four small but very economically free countries from 2008 to 2023. The study answers the research question of how the unit price of MINIMI guns varies across post-communist and historical NATO countries distinguished by the variables operationalising national culture.

The general disability of the government to control corruption deviates the strategy of military procurement in post-communist defence institutions from an effective strategy of liberal capitalism, minimising the unit price and risks (Norway), to an odd strategy maximising the unit price and risks by preferring middlemen as agent of hidden agenda (Czechia).

Some defence institutions in post-communist countries may be burdened by legislature capture, and detailed research is needed to determine this.

The authors argue that national culture may contribute to significant goal displacement in the procurement strategy adopted by the government in an economically liberal state.

Without perfecting the control of corruption in post-communist defence institutions, the NATO burden-sharing debate on 2% of GDP will remain controversial.

With variables characterising national culture and the government’s ability to control corruption, the study elucidates a slow pace of convergence of post-communist countries to NATÓs values and procedures.