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1 – 2 of 2The primary objective of this research is to provide evidence that there are two distinct layers of investor sentiments that can affect asset valuation models. The first is…
Abstract
Purpose
The primary objective of this research is to provide evidence that there are two distinct layers of investor sentiments that can affect asset valuation models. The first is general market-wide sentiments, while the second is biased approaches toward specific assets.
Design/methodology/approach
To achieve the goal, the authors conducted a multi-step analysis of stock returns and constructed complex sentiment indices that reflect the optimism or pessimism of stock market participants. The authors used panel regression with fixed effects and a sample of the US stock market to improve the explanatory power of the three-factor models.
Findings
The analysis showed that both market-level and stock-level sentiments have significant contributions, although they are not equal. The impact of stock-level sentiments is more profound than market-level sentiments, suggesting that neglecting the stock-level sentiment proxies in asset valuation models may lead to severe deficiencies.
Originality/value
In contrast to previous studies, the authors propose that investor sentiments should be measured using a multi-level factor approach rather than a single-factor approach. The authors identified two distinct levels of investor sentiment: general market-wide sentiments and individual stock-specific sentiments.
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Elizabeth Addy, Isaac Ayitey and Emmanuel S. Adabor
The purpose of the study is to identify barriers to collaboration among female administrators at a Ghanaian technical university (TU), based on the social identity theory (SIT).
Abstract
Purpose
The purpose of the study is to identify barriers to collaboration among female administrators at a Ghanaian technical university (TU), based on the social identity theory (SIT).
Design/methodology/approach
A mixed-method approach was adopted, integrating qualitative interviews of 15 female administrators and completing structured questionnaires from 117 randomly sampled female administrators. The SIT, as the analytical framework, identified themes emerging from the data on barriers to collaboration among female administrators. While exploratory factor analysis identified measures of factors hindering collaborations, the use of structural equation modeling (SEM) enabled the confirmation of relationships among the barriers to collaboration with female administrators.
Findings
There existed statistically significant relationships between four of the barriers: intergroup relations conflict, trust with stakeholders and among females and structural barriers (SBs). For the quantitative analysis, it was found that SBs, intergroup relations, conflict and trust were statistically significant except for weak cultures. For the qualitative, results showed that SBs, lack of trust with stakeholders and among females and intergroup conflict hinder collaboration.
Research limitations/implications
The study has a limited scope in using only one TU and focusing on a particular gender. The implications of this research will enrich the literature on barriers to female administrative collaboration in technical education based on the SIT.
Practical implications
Promoting administrative collaborations in the TU will ensure sustainability and efficient administrative systems.
Social implications
Institutional policies should include gender inclusivity and equality on networking opportunities and provide mentorship programs for efficient administrative systems.
Originality/value
We used the SIT to determine barriers to collaboration among female administrators in a technical education institution, and the mixed methodology added a unique dimension to the study.
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