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Article
Publication date: 19 April 2024

Devid Jegerson and Charilaos Mertzanis

In the evolving landscape of global remittances, this study systematically explores cryptocurrency's transformative impact on remittance services through a comprehensive…

Abstract

Purpose

In the evolving landscape of global remittances, this study systematically explores cryptocurrency's transformative impact on remittance services through a comprehensive literature review and bibliometric analysis.

Design/methodology/approach

Through meticulous PRISMA-guided analysis, the research identifies cryptocurrency technology as a pivotal force in enhancing remittance efficiency, reducing costs and broadening access contributing significantly to financial inclusion.

Findings

Findings revealed that cryptocurrency technology could significantly enhance remittance services, offering improved efficiency, reduced costs and increased accessibility. This suggests a transformative potential for financial inclusion, presenting a compelling case for broader adoption and regulatory support to leverage these benefits effectively.

Research limitations/implications

By integrating recent research, this work underlines the urgent need for broader adoption and regulatory support to leverage these benefits effectively. It offers novel insights for institutions and policymakers, highlighting the potential for technology adoption in remittances to enhance financial inclusivity.

Originality/value

More cryptocurrency studies are needed to concentrate on remittance markets. Thus, this investigation constitutes a unique addition to the field. Additional investigation in this domain presents significant possibilities for future exploration and progress.

Details

Management & Sustainability: An Arab Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2752-9819

Keywords

Article
Publication date: 3 August 2023

Abbas Valadkhani

This study is the first to investigate the causal relationship between Bitcoin and equity price returns by sectors. Previous studies have focused on aggregated indices such as…

Abstract

Purpose

This study is the first to investigate the causal relationship between Bitcoin and equity price returns by sectors. Previous studies have focused on aggregated indices such as S&P500, Nasdaq and Dow Jones, but this study uses mixed frequency and disaggregated data at the sectoral level. This allows the authors to examine the nature, direction and strength of causality between Bitcoin and equity prices in different sectors in more detail.

Design/methodology/approach

This paper utilizes an Unrestricted Asymmetric Mixed Data Sampling (U-AMIDAS) model to investigate the effect of high-frequency Bitcoin returns on a low-frequency series equity returns. This study also examines causality running from equity to Bitcoin returns by sector. The sample period covers United States (US) data from 3 Jan 2011 to 14 April 2023 across nine sectors: materials, energy, financial, industrial, technology, consumer staples, utilities, health and consumer discretionary.

Findings

The study found that there is no causality running from Bitcoin to equity returns in any sector except for the technology sector. In the tech sector, lagged Bitcoin returns Granger cause changes in future equity prices asymmetrically. This means that falling Bitcoin prices significantly influence the tech sector during market pullbacks, but the opposite cannot be said during market rallies. The findings are consistent with those of other studies that have established that during market pullbacks, individual asset prices have a tendency to decline together, whereas during market rallies, they have a tendency to rise independently. In contrast, this study finds evidence of causality running from all sectors of the equity market to Bitcoin.

Practical implications

The findings have significant implications for investors and fund managers, emphasizing the need to consider the asymmetric causality between Bitcoin and the tech sector. Investors should avoid excessive exposure to both Bitcoin and tech stocks in their portfolio, as this may lead to significant drawdowns during market corrections. Diversification across different asset classes and sectors may be a more prudent strategy to mitigate such risks.

Originality/value

The study's findings underscore the need for investors to pay close attention to the frequency and disaggregation of data by sector in order to fully understand the true extent of the relationship between Bitcoin and the equity market.

Details

Journal of Economic Studies, vol. 51 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 13 February 2024

Puteri Aina Megat, Fahd Al-Shaghdari, Besar Bin Ngah and Sami Samir Abdelfattah

The purpose of this study is to investigate the adoption of waqf technology (Waqftech) using blockchain smart contracts for corporate waqf crowdfunding. Despite the growing…

Abstract

Purpose

The purpose of this study is to investigate the adoption of waqf technology (Waqftech) using blockchain smart contracts for corporate waqf crowdfunding. Despite the growing interest in Waqftech, Malaysian enterprises have not fully embraced this emerging technology because of uncertainty regarding the benefits it offers to contributors. The research incorporates two theoretical frameworks: the electronic data interchange (EDI) model for firms’ technology adoption, and the triple bottom line theory (TBL) for corporate social responsibility.

Design/methodology/approach

A quantitative method using a cross-sectional survey design with a five-point Likert scale questionnaire was used. Data was collected from 210 decision-makers representing small and medium-sized enterprises and analyzed using partial least squares-structural equation modeling.

Findings

The findings from this research suggest that Malaysian enterprises are influenced by both corporate and social predictive benefits when using blockchain crowdfunding, but not by environmental benefits. The adoption of blockchain smart contracts does not correlate with predictive environmental benefits because of misconceptions about the disruptive technology’s impact on biological and digital environmental preservation.

Research limitations/implications

This research focuses on organizational behavior rather than individual users of waqf crowdfunding, and it is limited, primarily focusing within Malaysia and regions with similar waqf structures.

Practical implications

The Waqftech framework allows innovative mechanisms for executing corporate waqf investment returns to the intended beneficiaries through the smart contracts’ platform. In addition, this study supports relevant corporate social responsibility and creating shared value technology adoption theories, including EDI and TBL. Aside from this, the study provides empirical implications for waqf management using fintech platforms.

Originality/value

This groundbreaking study focuses on creating a Waqftech model for corporate waqf crowdfunding. The results of this study are important for the development of government policies that support the use of Waqftech in charitable fundraising. More research on biological and digital environmental perspectives is proposed to foster investors’ confidence in the visibility of digital tracking and lead to swift investments in future metaverse fundraising platforms.

Details

Journal of Islamic Marketing, vol. 15 no. 5
Type: Research Article
ISSN: 1759-0833

Keywords

Open Access
Article
Publication date: 29 May 2023

Emna Mnif, Nahed Zghidi and Anis Jarboui

The potential growth in cryptocurrencies has raised serious ethical and religious issues leading to a new investment rethinking. This paper aims to identify the influence of…

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Abstract

Purpose

The potential growth in cryptocurrencies has raised serious ethical and religious issues leading to a new investment rethinking. This paper aims to identify the influence of religiosity on cryptocurrency acceptance through an extended technology acceptance model (TAM) model.

Design/methodology/approach

In the first phase, this research develops a conceptual model that extends the theory of the TAM by integrating the religiosity component. In the second phase, the proposed model is tested using search volume queries in daily frequencies from 01/01/2018 to 31/12/2022 and structural equation modeling (SEM).

Findings

The empirical results demonstrate a significant positive effect of religiosity on the intention to use cryptocurrency, the users' perceived usefulness (PU) and ease of use (PEOU). Besides, the authors note that PEOU positively influences the intention. Furthermore, religiosity indirectly affects the intention through the PEOU and positively impacts the intention through the PU. In the same way, PEOU has a considerable indirect effect on the intention through PU.

Practical implications

This study has practical and theoretical contributions by providing insights into the cryptocurrency acceptance factors. In other words, it contributes to the literature by extending TAM models. Practically, it helps managers determine factors affecting the intention to use cryptocurrencies. Therefore, they can adjust their industry according to the suitable characteristics for creating successful projects.

Social implications

Identifying the effect of religiosity on cryptocurrency users' choices and decisions has a social added value as it provides an understanding of the evolution of psychological variants.

Originality/value

The findings emphasize the importance of integrating big data to analyze users' attitudes. Besides, most studies on cryptocurrency acceptance are investigated based on one kind of religion, such as Christianity or Islam. Nevertheless, this paper integrates the effect of five types of faith on the users' intentions.

Details

Arab Gulf Journal of Scientific Research, vol. 42 no. 2
Type: Research Article
ISSN: 1985-9899

Keywords

Article
Publication date: 22 January 2024

Yanqing Wang

The existing literature offers various perspectives on integrating cryptocurrencies into investment portfolios; yet, there is a gap in understanding the behaviours, attitudes and…

Abstract

Purpose

The existing literature offers various perspectives on integrating cryptocurrencies into investment portfolios; yet, there is a gap in understanding the behaviours, attitudes and cross-investment links of individual investors. This study, grounded in the modern portfolio theory and the random walk theory, aims to add empirical insights that are specific to the UK context. It explores four hypotheses related to the influence of socio-demographics, digital adoption, cross-investment behaviours and financial attitudes on cryptocurrency owners.

Design/methodology/approach

This study uses a logistic regression model with secondary data from the Financial Lives Survey 2020 to assess the factors impacting cryptocurrency ownership. A total of 29 variables are used, categorized into four groups aligned with the hypotheses. Additionally, hierarchical clustering analysis was conducted to further explore the cross-investment links.

Findings

The study reveals a significant lack of diversification among UK cryptocurrency investors, a pronounced inclination towards high-risk investments such as peer-to-peer lending and crowdfunding, and parallels with gambling behaviours, including financial dissatisfaction and a propensity for risk-taking. It highlights the influence of demographic traits, risk tolerance, technological literacy and emotional attitudes on cryptocurrency investment decisions.

Originality/value

This study provides valuable insights into cryptocurrency regulation and retail investor protection, underscoring the necessity for tailored financial education and a holistic regulatory approach for investment products with comparable risk levels, with the aim of minimizing regulatory arbitrage. It significantly enhances our understanding of the unique dynamics of cryptocurrency investments within the evolving financial landscape.

Details

Journal of Financial Regulation and Compliance, vol. 32 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 14 November 2023

Barkha Dhingra, Shallu Batra, Vaibhav Aggarwal, Mahender Yadav and Pankaj Kumar

The increasing globalization and technological advancements have increased the information spillover on stock markets from various variables. However, there is a dearth of a…

Abstract

Purpose

The increasing globalization and technological advancements have increased the information spillover on stock markets from various variables. However, there is a dearth of a comprehensive review of how stock market volatility is influenced by macro and firm-level factors. Therefore, this study aims to fill this gap by systematically reviewing the major factors impacting stock market volatility.

Design/methodology/approach

This study uses a combination of bibliometric and systematic literature review techniques. A data set of 54 articles published in quality journals from the Australian Business Deans Council (ABDC) list is gathered from the Scopus database. This data set is used to determine the leading contributors and contributions. The content analysis of these articles sheds light on the factors influencing market volatility and the potential research directions in this subject area.

Findings

The findings show that researchers in this sector are becoming more interested in studying the association of stock markets with “cryptocurrencies” and “bitcoin” during “COVID-19.” The outcomes of this study indicate that most studies found oil prices, policy uncertainty and investor sentiments have a significant impact on market volatility. However, there were mixed results on the impact of institutional flows and algorithmic trading on stock volatility, and a consensus cannot be established. This study also identifies the gaps and paves the way for future research in this subject area.

Originality/value

This paper fills the gap in the existing literature by comprehensively reviewing the articles on major factors impacting stock market volatility highlighting the theoretical relationship and empirical results.

Details

Journal of Modelling in Management, vol. 19 no. 3
Type: Research Article
ISSN: 1746-5664

Keywords

Article
Publication date: 18 April 2024

John Aliu, Ayodeji Emmanuel Oke, Isaac I. Akinwumi, Rislan Abdulazeez Kanya and Lydia Uyi Ehiosun

This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was…

Abstract

Purpose

This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was on addressing the current state of DLT utilization, identifying challenges and opportunities and proposing strategies to enhance the integration of DLTs into the construction processes and practices of Nigerian professionals and organizations.

Design/methodology/approach

The research was underpinned by a robust theoretical and conceptual framework, drawing from established theories of technology adoption. A comprehensive literature review guided the identification of various DLT types. This informed the development of a well-structured questionnaire, which was then distributed to Nigerian construction professionals. The collected data underwent analysis using percentages, frequencies, mean scores, the Kruskal–Wallis H-test and the Shapiro–Wilk test.

Findings

A significant finding of this study reveals a generally low awareness and implementation of DLT among construction professionals in Nigeria. These findings emphasize the urgent need for comprehensive strategies to bridge the gap between awareness and adoption of DLT within the Nigerian construction industry.

Practical implications

Industry associations, regulatory bodies and educational institutions can collaborate to develop specialized programs aimed at familiarizing professionals with the benefits and applications of DLTs. Additionally, technology providers and policymakers can leverage these findings to design user-friendly interfaces and guidelines for seamless DLT integration into construction processes.

Originality/value

This study contributes to the existing body of knowledge by providing a comprehensive assessment of the awareness and adoption of DLTs specifically within the Nigerian construction industry. While the global recognition of DLT’s potential in construction is acknowledged, this research delves into a regional context, shedding light on the specific opportunities within Nigeria. Furthermore, the study’s identification of a gap between awareness and implementation highlights a critical area for future exploration and development in the field of construction technology adoption.

Details

Technological Sustainability, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2754-1312

Keywords

Article
Publication date: 24 October 2023

Doron Goldbarsht

The rise of cryptocurrencies and other digital assets has triggered concerns about regulation and security. Governments and regulatory bodies are challenged to create frameworks…

Abstract

Purpose

The rise of cryptocurrencies and other digital assets has triggered concerns about regulation and security. Governments and regulatory bodies are challenged to create frameworks that protect consumers, combat money laundering and address risks linked to digital assets. Conventional approaches to confiscation and anti-money laundering are deemed insufficient in this evolving landscape. The absence of a central authority and the use of encryption hinder the identification of asset owners and the tracking of illicit activities. Moreover, the international and cross-border nature of digital assets complicates matters, demanding global coordination. The purpose of this study is to highlight that the effective combat of money laundering, legislative action, innovative investigative techniques and public–private partnerships are crucial.

Design/methodology/approach

The focal point of this paper is Australia’s approach to law enforcement in the realm of digital assets. It underscores the pivotal role of robust confiscation mechanisms in disrupting criminal networks operating through digital means. The paper firmly asserts that staying ahead of the curve and maintaining an agile stance is paramount. Criminals are quick to embrace emerging technologies, necessitating proactive measures from policymakers and law enforcement agencies.

Findings

It is argued that an agile and comprehensive approach is vital in countering money laundering, as criminals adapt to new technologies. Policymakers and law enforcement agencies must remain proactively ahead of these developments to efficiently identify, trace and seize digital assets involved in illicit activities, thereby safeguarding the integrity of the global financial system.

Originality/value

This paper provides a distinctive perspective by examining Australia’s legal anti-money laundering and counterterrorism financing framework, along with its law enforcement strategies within the realm of the digital asset landscape. While there is a plethora of literature on both asset confiscation and digital assets, there is a noticeable absence of exploration into their interplay, especially within the Australian context.

Details

Journal of Money Laundering Control, vol. 27 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Case study
Publication date: 24 April 2024

George (Yiorgos) Allayannis, Paul Tudor Jones and Aaron Fernstrom

The case describes a hypothetical hedge fund manager who is examining whether to invest in bitcoin. The case discusses potential risks and rewards of investing in bitcoin, the…

Abstract

The case describes a hypothetical hedge fund manager who is examining whether to invest in bitcoin. The case discusses potential risks and rewards of investing in bitcoin, the role of bitcoin and digital currencies more broadly, and financial innovation in the space, such as ICOs. It can be taught as part of a second-year MBA elective course in investments, financial institutions/capital markets, or fintech.

Details

Darden Business Publishing Cases, vol. no.
Type: Case Study
ISSN: 2474-7890
Published by: University of Virginia Darden School Foundation

Keywords

Article
Publication date: 25 April 2024

Gabriel A. Ogunmola and Ujjwal Das

This paper aims to comprehensively analyze the factors influencing the adoption intentions of the digital rupee, a digital currency, among users in India.

Abstract

Purpose

This paper aims to comprehensively analyze the factors influencing the adoption intentions of the digital rupee, a digital currency, among users in India.

Design/methodology/approach

Drawing upon the Technology Acceptance Model (TAM), the study examines the relationships between cognitive beliefs (perceived usefulness, perceived ease of use, perceived trust, perceived self-efficacy, perceived cost and awareness), affective belief (attitude) and adoption intention of the digital rupee. The study uses a structured questionnaire to collect primary data from 1,707 respondents, which are then analyzed using structural equation modeling.

Findings

The results indicate that perceived usefulness and perceived ease of use significantly impact users' attitudes toward the digital rupee, as well as their adoption intentions. The findings further reveal that perceived trust, perceived self-efficacy, and awareness positively influence attitude and adoption intention. On the other hand, perceived cost exhibits a negative effect on attitude and adoption intention. These results provide empirical evidence on the factors that shape users' attitudes and intentions toward adopting the digital rupee.

Research limitations/implications

The research methodology used in this study ensures rigorous data collection and analysis. The structured questionnaire enabled the collection of detailed information from a large sample of respondents, allowing for robust statistical analysis. The utilization of structural equation modeling facilitated the examination of complex relationships among variables, enhancing the reliability and validity of the findings.

Practical implications

The study's findings offer practical guidance for policymakers, financial institutions and researchers in shaping digital currency regulatory frameworks, tailored financial services and further exploration of adoption dynamics.

Social implications

The research has social implications by potentially influencing the way individuals and communities in India engage with digital currencies, impacting financial inclusion and digital economic participation.

Originality/value

This research contributes to the understanding of the adoption of digital currencies in India and provides valuable insights for policymakers, financial institutions and researchers in the field of digital finance and technology adoption.

Details

Digital Policy, Regulation and Governance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-5038

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