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This study presents time-series data estimations on the association between the indicators of institutional environment and inward foreign direct investment (FDI) in India utilizing a comprehensive data set from 1996 to 2021.

The study employs the nonlinear autoregressive distributive lag (NARDL) model. The asymmetric ARDL framework evaluates the existence of cointegration among the factors under study and highlights the underlying nonlinear effects that may exist in the long and short run.

The significance of coefficients of negative shock to “control of corruption” and positive shock to “rule of law” is greater when compared to “government effectiveness, regulatory quality, political stability/absence of violence.” The empirical outcomes suggest the positive influence of rule of law, political stability and government effectiveness on FDI inflows. A high “regulatory quality” is observed to deter foreign investment. The “voice and accountability” index and negative shocks to the “rule of law” are exhibited to have no substantial impact on the amount of FDI that the country receives.

This study empirically examines the institutional determinants of FDI in India for a comprehensive period of 1996–2021. The study's findings imply that quality of the institutional environment has a significant bearing on India's inward FDI.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-05-2023-0375

This paper aims to present a numerical investigation into heat transfer and entropy generation resulting from magnetohydrodynamic laminar flow through a microchannel under asymmetric boundary conditions. Furthermore, the authors consider the effects of viscous dissipation and Joule heating.

The finite difference method is used to obtain the numerical solution. Simulations are conducted across a broad range of Hartmann (Ha = 0 ∼ 40) and Brinkman (Br = 0.01 ∼ 1) numbers, along with various asymmetric isothermal boundaries characterized by a heating ratio denoted as ϕ.

The findings indicate a significant increase in the Nusselt number with increasing Hartmann number, regardless of whether Br equals zero or not. In addition, it is demonstrated that temperature differences between the microchannel walls can lead to substantial distortions in fluid temperature distribution and heat transfer. The results reveal that the maximum entropy generation occurs at the highest values of Ha and η (a dimensionless parameter emerging from the formulation) obtained for ϕ = −1. Moreover, it is observed that local entropy generation rates are highest near the channel wall at the entrance region.

The study provides valuable insights into the complex interactions between magnetic fields, viscous dissipation and Joule heating in microchannel flows, particularly under asymmetric heating conditions. This contributes to a better understanding of heat transfer and entropy generation in advanced microfluidic systems, which is essential for optimizing their design and performance.

The primary purpose of this research is to identify and compare the multifractal behavior of different sectors during these crises and analyze their implications on market efficiency.

We used multifractal detrended fluctuation analysis (MF-DFA) to analyze stock returns from various sectors of the Moscow Stock Exchange (MOEX) in between two significant periods. The COVID-19 pandemic (January 1, 2020, to December 31, 2021) and the Russia–Ukraine conflict (RUC) (January 1, 2022, to June 30, 2023). This method witnesses multifractality in financial time series data and tests the persistency and efficiency levels of each sector to provide meaningful insights.

Results showcased persistent multifractal behavior across all sectors in between the COVID-19 pandemic and the RUC, spotting heightened arbitrage opportunities in the MOEX. The pandemic reported a greater speculative behavior, with the telecommunication and oil and gas sectors exhibiting reduced efficiency, recommending abnormal return potential. In contrast, financials and metals and mining sectors displayed increased efficiency, witnessing strong economic performance. Findings may enhance understanding of market dynamics during crises and provide strategic insights for the MOEX’s investors.

Understanding the multifractal properties and efficiency of different sectors during crisis periods is of paramount importance for investors and policymakers. The identified arbitrage opportunities and efficiency variations can aid investors in optimizing their investment strategies during such critical market conditions. Policymakers can also leverage these insights to implement measures that bolster economic stability and development during crisis periods.

This research contributes to the existing body of knowledge by providing a comprehensive analysis of multifractal properties and efficiency in the context of the MOEX during two major crises. The application of MF-DFA to sectoral stock returns during these events adds originality to the study. The findings offer valuable implications for practitioners, researchers and policymakers seeking to navigate financial markets during turbulent times and enhance overall market resilience.

Given the contradictory findings of standardization/adaptation of marketing strategy in explaining export performance in the extant research, this study aims to examine the contingent effects of managerial ties and born global orientation in the standardized advertising-export performance conceptualization.

The study used two-respondent method in the survey research by a sample of 155 exporting firms operating in the industrial marketing based in Australia and New Zealand and applied hierarchical regression analysis to test the hypotheses.

The findings demonstrate that standardized advertising has a significant effect on export performance and this relationship is positively moderated by business ties. Such effect is particularly enhanced for born global firms (than nonborn global firms). However, political ties negatively influence the impact of standardized advertising on performance and such effect is stronger for born global firms.

A broader perspective of contingent variables should be included to examine the underlying relationship between standardized advertising and export performance in capturing the dynamism in international marketing contexts, such as institutional frameworks or sociocultural environments in host countries.

Standardized advertising is critical for born global firms’ export performance as it can increase efficiency and speed up internationalization processes. Such positive impact of standardized advertising on export performance is further enhanced if born global firms allocate resources to develop strong business ties with host country partners instead of building political ties with host country governments, because smooth business networking can facilitate standardized advertising on industrial marketing, yet justifiable political relations require intricate negotiations that often prolong internationalization progress.

This study incorporates managerial ties and born global orientation as contingent factors in fixing the theoretic interlock between standardization advertising strategy and export firm performance.

This paper investigates the relationship between institutional ownership and idiosyncratic volatility in Chinese and the USA stock markets and explores the potential explanations.

In this paper, the authors use the panel data regressions and the dynamic tests of two-way Granger causality in the panel VAR model to examine the relationship between institutional ownership and idiosyncratic volatility in Chinese and the USA stock markets.

The authors find that the institutional ownership in the Chinese (the USA) stock market is significantly and positively (negatively) related to idiosyncratic volatility through various tests. This paper indicates that institutional investors in the USA are more prudent and risk-averse, while the Chinese institutional investors are not because of high risk-bearing capacity.

This paper deepens the authors’ understanding on the relationship between institutional ownership and idiosyncratic volatility and in the USA and the Chinese stock markets. This paper explains the opposite relationships between institutional ownership and idiosyncratic volatility in the stock markets in China and USA.

This study focused on identifying critical factors governing the fire response of prestressed hollow-core slabs. The hollow-core slabs used as flooring units can be subjected to elevated temperatures during a fire. The fire response of prestressed hollow-core slabs is required to develop slabs with greater fire endurance. The present study aims to determine the extent to which the hollow-core slab can sustain load during a fire without undergoing progressive collapse under extreme fire and heating scenarios.

A finite element model was generated to predict the fire response of prestressed hollow core slabs under elevated temperatures. The accuracy of the model was predicted by examining thermal and structural responses through coupled temperature displacement analysis. A sensitivity analysis was performed to study the effects of concrete properties on prediction of system response. A parametric study was conducted by varying the thickness of the slab, fire and heating scenarios.

Thermal conductivity and specific heat of concrete were determined as sensitive parameters. The thickness of the slab was identified as a critical factor at a higher load level. Asymmetric heating of the slab resulted in higher fire resistance compared with symmetric heating.

This is the first study focused on studying the effect of modeling uncertainties on the system response by sensitivity analysis under elevated temperatures. The developed model with a parametric study helps in identifying critical factors for design purposes.

This study aims to provide empirical evidence on the impact of foreign share ownership on the liquidity of the Tunisian Stock Exchange (TSE).

The authors hypothesize in the first strand that stock liquidity could be positively affected by foreign ownership based on the real friction channel. The authors then hypothesize in the second strand, based on the information friction channel, that foreign ownership's impact on stock liquidity could be insignificant or negative and that foreign investors raise the level of information asymmetry. A sample of 318 firm-year observations from Tunisia over the 2012–2017 period and a random-effects estimation were used. Moreover, using the 2SLS estimator, a robustness check framework was applied in order to address any potential reverse causality concerns.

The authors find strong evidence that higher foreign ownership improves stock liquidity. More specifically, firms with higher foreign ownership engender a lower bid-ask spread, a better stock ability to absorb a large amount of trading volume, and a larger depth. These findings are still valid when reverse causality concerns are addressed through the use of the 2SLS estimator.

The paper contributes to the existing literature by focusing on the ownership–liquidity relationship on a frontier market. It provides further empirical support that higher corporate governance quality reduces the information asymmetry problem and enhances stock market liquidity.

This study aims to provide empirical evidence on the return and volatility spillover structures between Bitcoin, Fintech stocks and Asian-Pacific equity markets over time and during different market conditions, and their implications for portfolio management.

We use Time-varying parameter vector autoregressive and quantile frequency connectedness approach models for the connectedness framework, in conjunction with Diebold and Yilmaz’s connectivity approach. Additionally, we use the minimum connectedness portfolio model to highlight implications for portfolio management.

Regarding the uncertainty of the whole system, we show a small contribution from Bitcoin and Fintech, with a higher contribution from the four Asian Tigers (Taiwan, Singapore, Hong Kong and Thailand). The quantile and frequency analyses also demonstrate that the link among assets is symmetric, with short-term spillovers having the largest influence. Finally, Bitcoins and Fintech stocks are excellent diversification and hedging instruments for Asian equity investors.

There is an instantaneous, symmetric and dynamic return and volatility spillover between Asian stock markets, Fintech and Bitcoin. This conclusion should be considered by investors and portfolio managers when creating risk diversification strategies, as well as by policymakers when implementing their financial stability policies.

The study’s major contribution is to analyze the volatility spillover between Bitcoin, Fintech and Asian stock markets, which is dynamic, symmetric and immediate.

This study investigates the mispricing dynamics of NIFTY 50 Index futures, drawing upon daily data spanning from January 2008 to July 2023.

The study employs both a single regime analysis and a tri-regime model to understand the fluctuations in NIFTY 50 Index futures mispricing.

The study reveals a complex interplay between various market factors and mispricing, including forward-looking volatility (measured by the NIFVIX index), changes in open interest, underlying index return, futures volume, index volume and time to maturity. Additionally, the relationships are regime-dependent, specifically identifying the regime-dependent nature of the relationship between forward-looking volatility and mispricing, the impact of futures volume on mispricing, the effect of open interest on mispricing, the varying influence of index volume and the influence of time to maturity across the three distinct regimes.

These findings offer valuable insights for policymakers and investors by providing a detailed understanding of futures market efficiency and potential arbitrage opportunities. The study emphasizes the importance of understanding market dynamics, transaction costs and timing, offering guidance to enhance market efficiency and capitalize on trading opportunities in the evolving Indian derivatives market.

The Vector Autoregression (VAR) and Threshold Vector Autoregression Regression (TVAR) models are deployed to disentangle the interrelationships between NIFTY 50 Index futures mispricing and related endogenous determinants.

This study investigates the Nifty 50 Index futures mispricing across three distinct market regimes.

We highlight how factors like volatility, futures volume, and open interest vary in their impact.

The study employs vector auto-regressive and threshold vector auto-regressive models to explore the complex relationships influencing mispricing.

We provide valuable insights for investors and policymakers on improving market efficiency and identifying potential arbitrage opportunities.

This paper aims to investigate the impact of China’s Green Credit Guidelines (GCG) policy on the environmental, social and governance (ESG) scores of restricted enterprises and examine firm’s speculative behavior in response to the policy.

This paper views the GCG policy proposed in 2012 as a quasinatural experiment and uses difference-in-differences (DID) model to evaluate its influence on the ESG scores of Chinese nonfinancial A-share listed enterprises from 2007 to 2019. Robustness tests include the propensity score matching (PSM)–DID method and permutation tests.

The GCG policy significantly increases the ESG scores of restricted enterprises, particularly enhancing environmental (E) performance. However, it only improves the social (S) and governance (G) performance of firms heavily reliant on bank credit, indicating speculative behavior by enterprises. Increased Government attention, a higher proportion of female executives and more developed local green finance reduce speculative behavior, while executives with financial backgrounds promote it.

Governments should mandate standardized ESG reporting and monitor restricted enterprises, banks should monitor speculative behavior and firms should integrate ESG into their long-term strategies to support sustainable development.

The results provide evidence of the effectiveness of implementing the GCG policy in China and offer guidance for better promoting green credit policy in developing countries, contributing to the transition toward a more sustainable future.

To the best of the authors’ knowledge, this paper is the first to explore if the GCG policy’s asymmetric effects on ESG components are due to enterprise speculative behavior and examines the factors influencing this behavior, providing insights for regulators to better implement the GCG policy to promote sustainable development.