Search results

Purpose – This research pinpoints the limitations of conventional models for evaluating the performance of hedge funds and attempts to provide a new framework for modeling the dynamics of risk structures of hedge funds.

Methodology/approach – This chapter aims to explore how the systematic risk exposures of hedge funds vary over time and depend on exogenous variables that managers are supposed to use in their dynamic investment strategies. To achieve this, we used a Bayesian time-varying CAPM-based beta model within a state space technology.

Findings – The results showed that the volatility, term spread rate, and shocks in liquidity influence significantly on the time variation of hedge funds. Besides, the dynamics of beta indicates that the transmission channels of systematic risk are mainly the leverage levels of hedge funds and liquidity shocks.

Originality/value of chapter – These results are original because they help to explain how expected and unexpected hedge fund returns are correlated with the systematic risk factors via the beta dynamics.

We develop a multiperiod contest theory model to formulate the role of decentralization in coups decision and outcome. In our model the coup plotter chooses between carrying out a coup and subordination, the central government responds by fighting against the plotter, and the local government chooses whether to confront the military government after a successful coup. The model shows that more decentralized countries will experience longer military regime after a successful coup, but the relationship between decentralization and the risk of coups is nonmonotonic. We suggest that there may exist negative consequences of decentralization: Depending on the initial conditions, decentralization may increase the coup risks and jeopardize political stability.

Generation Z makes up 20% of China’s population, and accounts for the highest share of household spend at 13% (vs. 3% for the United Kingdom and 4% for the United States). To advance marketers’ understanding about this group of consumers and capitalise on China’s booming market, this chapter uses rich statistics and information to show that China’s Generation Z has distinct behaviour patterns, which can be attributed to the unique background in which they grew up: (1) rigidity of social stratification, (2) abundance of materialism, (3) digital era, (4) limited (vs. extended) family, and (5) heavy schoolwork. Growing up in such a background, Generation Z’s lifestyle and consumption-related attitudes and behaviour are distinct from their predecessors. The chapter presents specific actions that marketers can take when targeting this distinct group of consumers in China, along with useful guidelines to HR managers for hiring them.

Cities and the tourism industry are closely related. Cities are destinations that serve for the welfare of the people and the tourists visiting the city. The tourism sector, on the other hand, uses the environmental and sociocultural resources of the cities, ensures that these resources are transferred to the future by protecting them, and contributes to the economic development of the cities by creating employment. Several urban models have been created within this framework to make urban tourism viable. Eco-city tourism is one of these urban design concepts. Eco-city tourism aims to protect cities from sociocultural, economic, and environmental factors while promoting their growth. Eco-city tourism, which includes a number of practices such as prevention of pollution, protection of biological diversity, consumption of renewable energy, production of local products, employment, and protection of cultural values, is easily implement in cities in an integrated manner with smart technological systems. Smart building and smart energy systems for energy saving, mobile applications, Wi-Fi, big data, Internet of Things (IoT), and cloud computing are among the smart technological systems used in the tourism sector.

This chapter aims to identify integrated marketing communication (IMC) in the context of business to business to consumer (B2B2C) and empirically test a number of hypotheses related to the selected constructs. A model of the IMC was tested in a survey conducted among stakeholders in the selected field. Professionals responsible for communication and branding activities need to evaluate the relative contributions of the IMC in the B2B2C perspective.

The objective of this research work is to study the artificial intelligence (AI)-based product benefits and problems of the agritech industry. The research variables were developed from the existing review of literature connecting to AI-based benefits and problems, and 90 samples of primary data from agritech industry managers were gathered using a survey of a well-structured research questionnaire. The statistical package of IBM-SPSS 21 was utilized to analyze the data using the statistical techniques of descriptive and inferential statistical analysis. Results show that better information for faster decision-making has been ranked as the topmost AI benefit. This implies that the executives of agritech units have a concern about the quality of decisions they make and resistance to change from employees and internal culture has been ranked as the topmost AI problem.

The chapter analyses Chinese and Russian hybrid warfare and their strategies. Although still under debate, it is increasingly recognised that both countries integrate and apply hybrid warfare in their strategic thinking. In doing so, they are able to increase their sphere of influence, promote authoritarian regimes and weaken democracies. It is therefore vital that we better understand their strategies in order to identify and bring to light the processes that encourage today’s rise of nationalism and populism, withdrawal from international organisations and an overall distrust in the global institutional order. Approaching the puzzle from current weaknesses in the EU and the United States, the chapter proposes a framework to analyse Chinese and Russian hybrid warfare. The chapter demonstrates that Western liberal democracies are not only unprepared for these new forms of warfare, but appear unwilling to take the necessary measures. In doing so, these countries leave the door open for (further) destabilisation and a risk of increased domestic polarisation.