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1 – 10 of over 1000Md. Bokhtiar Hasan, Md Mamunur Rashid, Md. Naiem Hossain, Mir Mahmudur Rahman and Md. Ruhul Amin
This research explores the spillovers and portfolio implications for green bonds and environmental, social and governance (ESG) assets in the context of the rapidly expanding…
Abstract
Purpose
This research explores the spillovers and portfolio implications for green bonds and environmental, social and governance (ESG) assets in the context of the rapidly expanding trend in green finance investments and the need for a green recovery in the post-COVID-19 era.
Design/methodology/approach
This study utilizes Diebold and Yilmaz’s (2014) spillover method and portfolio strategies (hedge ratio, optimal weights and hedging effectiveness) for the data starting from February 29, 2012, to March 14, 2022.
Findings
The study’s findings reveal that the lower volatility spillover is evidenced between the green bonds and ESG stocks during tranquil and turbulent periods (e.g. COVID-19 and Russia-Ukraine War). Furthermore, hedging costs are lower both in normal times and during economic slumps. Investing the bulk of the funds in green bonds makes it possible to achieve maximum hedging effectiveness between the S&P green bond (GB) and the S&P 500 ESG.
Practical implications
Both investors and policymakers may use these findings to make wise investment and policy choices to achieve post-COVID environmental sustainability.
Originality/value
Unlike previous research, this is the first to explore the interconnectedness among the major global and country-specific green bonds and ESG assets. The major findings of this study about the lower volatility spillovers and hedging costs between green bonds and ESG assets during the tranquil and turbulent periods may contribute to the post-COVID investment portfolio for environmental sustainability.
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Ahamuefula Ephraim Ogbonna and Olusanya Elisa Olubusoye
This study aims to investigate the response of green investments of emerging countries to own-market uncertainty, oil-market uncertainty and COVID-19 effect/geo-political risks…
Abstract
Purpose
This study aims to investigate the response of green investments of emerging countries to own-market uncertainty, oil-market uncertainty and COVID-19 effect/geo-political risks (GPRs), using the tail risks of corresponding markets as measures of uncertainty.
Design/methodology/approach
This study employs Westerlund and Narayan (2015) (WN)-type distributed lag model that simultaneously accounts for persistence, endogeneity and conditional heteroscedasticity, within a single model framework. The tail risks are obtained using conditional standard deviation of the residuals from an asymmetric autoregressive moving average – ARMA(1,1) – generalized autoregressive conditional heteroscedasticity – GARCH(1,1) model framework with Gaussian innovation. For out-of-sample forecast evaluation, the study employs root mean square error (RMSE), and Clark and West (2007) (CW) test for pairwise comparison of nested models, under three forecast horizons; providing statistical justification for incorporating oil tail risks and COVID-19 effects or GPRs in the predictive model.
Findings
Green returns responds significantly to own-market uncertainty (mostly positively), oil-market uncertainty (mostly positively) as well as the COVID-19 effect (mostly negatively), with some evidence of hedging potential against uncertainties that are external to the green investments market. Also, incorporating external uncertainties improves the in-sample predictability and out-of-sample forecasts, and yields some economic gains.
Originality/value
This study contributes originally to the green market-uncertainty literature in four ways. First, it generates daily tail risks (a more realistic measure of uncertainty) for emerging countries’ green returns and global oil prices. Second, it employs WN-type distributed lag model that is well suited to account for conditional heteroscedasticity, endogeneity and persistence effects; which characterizes financial series. Third, it presents both in-sample predictability and out-of-sample forecast performances. Fourth, it provides the economic gains of incorporating own-market, oil-market and COVID-19 uncertainty.
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Di Cheng, Yuqing Wen, Zhiqiang Guo, Xiaoyi Hu, Pengsong Wang and Zhikun Song
This paper aims to obtain the evolution law of dynamic performance of CR400BF electric multiple unit (EMU).
Abstract
Purpose
This paper aims to obtain the evolution law of dynamic performance of CR400BF electric multiple unit (EMU).
Design/methodology/approach
Using the dynamic simulation based on field test, stiffness of rotary arm nodes and damping coefficient of anti-hunting dampers were tested. Stiffness, damping coefficient, friction coefficient, track gauge were taken as random variables, the stochastic dynamics simulation method was constructed and applied to research the evolution law with running mileage of dynamic index of CR400BF EMU.
Findings
The results showed that stiffness and damping coefficient subjected to normal distribution, the mean and variance were computed and the evolution law of stiffness and damping coefficient with running mileage was obtained.
Originality/value
Firstly, based on the field test we found that stiffness of rotary arm nodes and damping coefficient of anti-hunting dampers subjected to normal distribution, and the evolution law of stiffness and damping coefficient with running mileage was proposed. Secondly stiffness, damping coefficient, friction coefficient, track gauge were taken as random variables, the stochastic dynamics simulation method was constructed and applied to the research to the evolution law with running mileage of dynamic index of CR400BF EMU.
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Getahun Bekele Wega and Habtu Zegeye
Our purpose of this study is to construct an algorithm for finding a zero of the sum of two maximally monotone mappings in Hilbert spaces and discus its convergence. The…
Abstract
Our purpose of this study is to construct an algorithm for finding a zero of the sum of two maximally monotone mappings in Hilbert spaces and discus its convergence. The assumption that one of the mappings is
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Marko Kureljusic and Erik Karger
Accounting information systems are mainly rule-based, and data are usually available and well-structured. However, many accounting systems are yet to catch up with current…
Abstract
Purpose
Accounting information systems are mainly rule-based, and data are usually available and well-structured. However, many accounting systems are yet to catch up with current technological developments. Thus, artificial intelligence (AI) in financial accounting is often applied only in pilot projects. Using AI-based forecasts in accounting enables proactive management and detailed analysis. However, thus far, there is little knowledge about which prediction models have already been evaluated for accounting problems. Given this lack of research, our study aims to summarize existing findings on how AI is used for forecasting purposes in financial accounting. Therefore, the authors aim to provide a comprehensive overview and agenda for future researchers to gain more generalizable knowledge.
Design/methodology/approach
The authors identify existing research on AI-based forecasting in financial accounting by conducting a systematic literature review. For this purpose, the authors used Scopus and Web of Science as scientific databases. The data collection resulted in a final sample size of 47 studies. These studies were analyzed regarding their forecasting purpose, sample size, period and applied machine learning algorithms.
Findings
The authors identified three application areas and presented details regarding the accuracy and AI methods used. Our findings show that sociotechnical and generalizable knowledge is still missing. Therefore, the authors also develop an open research agenda that future researchers can address to enable the more frequent and efficient use of AI-based forecasts in financial accounting.
Research limitations/implications
Owing to the rapid development of AI algorithms, our results can only provide an overview of the current state of research. Therefore, it is likely that new AI algorithms will be applied, which have not yet been covered in existing research. However, interested researchers can use our findings and future research agenda to develop this field further.
Practical implications
Given the high relevance of AI in financial accounting, our results have several implications and potential benefits for practitioners. First, the authors provide an overview of AI algorithms used in different accounting use cases. Based on this overview, companies can evaluate the AI algorithms that are most suitable for their practical needs. Second, practitioners can use our results as a benchmark of what prediction accuracy is achievable and should strive for. Finally, our study identified several blind spots in the research, such as ensuring employee acceptance of machine learning algorithms in companies. However, companies should consider this to implement AI in financial accounting successfully.
Originality/value
To the best of our knowledge, no study has yet been conducted that provided a comprehensive overview of AI-based forecasting in financial accounting. Given the high potential of AI in accounting, the authors aimed to bridge this research gap. Moreover, our cross-application view provides general insights into the superiority of specific algorithms.
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Jonathan Orsini, Kate McCain and Hannah M. Sunderman
The purpose of the current innovative practice paper is to introduce a technique to explore leader identity development and meaning-making that builds on the narrative pedagogical…
Abstract
Purpose
The purpose of the current innovative practice paper is to introduce a technique to explore leader identity development and meaning-making that builds on the narrative pedagogical tradition. In this paper, we recommend a process for combining turning-point graphing and responsive (semi-structured) interviews to co-explore leadership identity development and meaning-making with college students.
Design/methodology/approach
The paper provides student feedback data on the effectiveness of the technique in improving understanding of leader identity and transforming meaning-making.
Originality/value
We hope practitioners can utilize this approach to build leadership identity development and meaning-making capacity in college students.
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Miklesh Prasad Yadav, Shruti Ashok, Farhad Taghizadeh-Hesary, Deepika Dhingra, Nandita Mishra and Nidhi Malhotra
This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.
Abstract
Purpose
This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio.
Design/methodology/approach
Generic 1 Natural Gas and Energy Select SPDR Fund are used as proxies to measure energy commodities, bonds index of S&P Dow Jones and Bloomberg Barclays MSCI are used to represent green bonds and the New York Stock Exchange is considered to measure the stock market. Granger causality test, wavelet analysis and network analysis are applied to daily price for the select markets from August 26, 2014, to March 30, 2021.
Findings
Results from the Granger causality test indicate no causality between any pair of variables, while cross wavelet transform and wavelet coherence analysis confirm strong coherence at a high scale during the pandemic, validating comovement among the three asset classes. In addition, network analysis further corroborates this connectedness, implying a strong association of the stock market with the energy commodity market.
Originality/value
This study offers new evidence of the temporal association among the US stock market, energy commodities and green bonds during the COVID-19 crisis. It presents a novel approach that measures and evaluates comovement among the constituent series, simultaneously using both wavelet and network analysis.
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Sumana Laparojkit and Muttanachai Suttipun
This study aims to examine the causal factors of customer motivation, trust and loyalty, influencing the level of repurchase intentions of local tourists travelling during…
Abstract
Purpose
This study aims to examine the causal factors of customer motivation, trust and loyalty, influencing the level of repurchase intentions of local tourists travelling during pandemic COVID-19 crisis in Thailand.
Design/methodology/approach
The population of this study comprised all Thai local tourists travelling in Thailand. Using simple random sampling of local tourists on travel in Thailand, quantitative data were collected from 500 tourists as the sampling, representing Northern Thailand, North-Eastern Thailand, Central Thailand, Southern Thailand and Bangkok. Path analysis, including correlation matrix and factor confirmation, was used to test the causal factors influencing the level of repurchase intentions.
Findings
Motivation trust, customer trust, customer loyalty and repurchase intentions of Thai domestic tourism were on a high level. In addition, there were positive influences of customer motivation, trust and loyalty on the level of repurchase intentions by local tourists travelling in Thailand.
Originality/value
The study results demonstrate that the social exchange theory can be used to explain the influences of customer motivation, customer trust and loyalty on repurchase intentions of domestic Thai tourism.
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Based on the theory of trust and cost-benefit perspective, this paper examines the relationship between citizens’ trust and their digital attitudes by considering the mediating…
Abstract
Purpose
Based on the theory of trust and cost-benefit perspective, this paper examines the relationship between citizens’ trust and their digital attitudes by considering the mediating effects of performance expectancy and perceived risk, as well as the moderating effect of media use.
Design/methodology/approach
The city digital transformation in Shanghai is chosen as the case in this study. 466 questionnaires were collected through a survey, with Structural Equation Modeling to test the hypotheses in AMOS.
Findings
Citizens’ trust of government and trust of technology has no significant direct effect on their digital attitudes. However, performance expectancy mediates between the trust of government and digital attitudes, and perceived risk mediates the effect of trust of technology on attitudes. The use of social media significantly moderates the association between trust of technology and citizens’ attitudes.
Originality/value
Exploring why citizens shape supportive attitudes toward digitalization is critical to achieving digital governance goals in developing countries, especially large cities where digital transformation is accelerating. The originality lies in using cost-benefit analysis as a perspective and media use as a moderator to examine the mechanisms of citizens’ trust and digital attitudes.
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Olanrewaju Ayobami Omoya, Kassandra A. Papadopoulou and Eric Lou
The purpose of this paper is to investigate the application of reliability engineering to oil and gas (O&G) pipeline systems with the aim of identifying means through which…
Abstract
Purpose
The purpose of this paper is to investigate the application of reliability engineering to oil and gas (O&G) pipeline systems with the aim of identifying means through which reliability engineering can be used to improve pipeline integrity, specifically with regard to man-made incidents (e.g. material/weld/equipment failure, corrosion, incorrect operation and excavation damages).
Design/methodology/approach
A literature review was carried out on the application of reliability tools to O&G pipeline systems and four case studies are presented as examples of how reliability engineering can help to improve pipeline integrity. The scope of the paper is narrowed to four stages of the pipeline life cycle; the decommissioning stage is not part of this research. A survey was also carried out using a questionnaire to check the level of application of reliability tools in the O&G industry.
Findings
Data from survey and literature show that a reliability-centred approach can be applied and will improve pipeline reliability where applied; however, there are several hindrances to the effective application of reliability tools, the current methods are time based and focus mainly on design against failure rather than design for reliability.
Research limitations/implications
The tools identified do not cover the decommissioning of the pipeline system. Research validation sample size can be broadened to include more pipeline stakeholders/professionals. Pipeline integrity management systems are proprietary information and permission is required from stakeholders to do a detailed practical study.
Originality/value
This paper proposes the minimum applied reliability tools for application during the design, operation and maintenance phases targeted at the O&G industry. Critically, this paper provides a case for an integrated approach to applying reliability and maintenance tools that are required to reduce pipeline failure incidents in the O&G industry.
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