Search results

Financial mathematics is one of the most rapidly evolving fields in today’s banking and cooperative industries. In the current study, a new fractional differentiation operator with a nonsingular kernel based on the Robotnov fractional exponential function (RFEF) is considered for the Black–Scholes model, which is the most important model in finance. For simulations, homotopy perturbation and the Laplace transform are used and the obtained solutions are expressed in terms of the generalized Mittag-Leffler function (MLF).

The homotopy perturbation method (HPM) with the help of the Laplace transform is presented here to check the behaviours of the solutions of the Black–Scholes model. HPM is well known for its accuracy and simplicity.

In this attempt, the exact solutions to a famous financial market problem, namely, the BS option pricing model, are obtained using homotopy perturbation and the LT method, where the fractional derivative is taken in a new YAC sense. We obtained solutions for each financial market problem in terms of the generalized Mittag-Leffler function.

The Black–Scholes model is presented using a new kind of operator, the Yang-Abdel-Aty-Cattani (YAC) operator. That is a new concept. The revised model is solved using a well-known semi-analytic technique, the homotopy perturbation method (HPM), with the help of the Laplace transform. Also, the obtained solutions are compared with the exact solutions to prove the effectiveness of the proposed work. The different characteristics of the solutions are investigated for different values of fractional-order derivatives.

This paper explores organization-level racialized work strategies for maintaining racialized organizations (Ray, 2019). It focuses on intentional actions to maintain dominant racial norms, demonstrating how work strategies are informed by dominant racial structures that maintain racial inequities.

We compiled a chronological case study (Yin, 2012) based on 168 news media articles and various organizational documents to examine responses to athlete protests at the University of Texas at Austin following the death of George Floyd. Gioia et al.’s (2013) method uncovered how dominant racial norms inform organizational behaviors.

The paper challenges institutional theory neutrality and identifies several racialized work strategies that organizations employ to maintain racialized norms and practices. The findings provide a framework for organizations to interrogate their strategies and their role in reproducing dominant racial norms and inequities.

In 2020, the Black Lives Matter (BLM) movement was reinvigorated within sporting and corporate domains. However, many organizations engaged in performativity, sparking criticism about meaningful change in organizational contexts. Our case study examines how one organization responded to athlete activists’ BLM-fueled demands, revealing specific racialized work strategies that maintain structures of racism. As organizations worldwide disrupt and discuss oppressive structures such as racism, we demonstrate how organizational leadership, while aware of policies and practices of racism, may choose not to act and actively maintain such structures.

The potential of vehicle ad hoc networks (VANETs) to improve driver and passenger safety and security has made them a hot topic in the field of intelligent transportation systems (ITSs). VANETs have different characteristics and system architectures from mobile ad hoc networks (MANETs), with a primary focus on vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication. But protecting VANETs from malicious assaults is crucial because they can undermine network security and safety.

The black hole attack is a well-known danger to VANETs. It occurs when a hostile node introduces phony routing tables into the network, potentially damaging it and interfering with communication. A safe ad hoc on-demand distance vector (AODV) routing protocol has been created in response to this issue. By adding cryptographic features for source and target node verification to the route request (RREQ) and route reply (RREP) packets, this protocol improves upon the original AODV routing system.

Through the use of cryptographic-based encryption and decryption techniques, the suggested method fortifies the VANET connection. In addition, other network metrics are taken into account to assess the effectiveness of the secure AODV routing protocol under black hole attacks, including packet loss, end-to-end latency, packet delivery ratio (PDR) and routing request overhead. Results from simulations using an NS-2.33 simulator show how well the suggested fix works to enhance system performance and lessen the effects of black hole assaults on VANETs.

All things considered, the safe AODV routing protocol provides a strong method for improving security and dependability in VANET systems, protecting against malevolent attacks and guaranteeing smooth communication between cars and infrastructure.

The COVID-19 pandemic and the onset of the conflict in Ukraine led to a sustained downturn in tourist arrivals (TA) in Russia. This paper aims to explore the influence of geopolitical risk (GPR) and other indices on TA over 1995–2023.

We employ a nonlinear autoregressive distributed lag (NARDL) model to analyze the effects, capturing both the positive and negative shocks of these variables on TA.

Our research demonstrates that the NARDL model is more effective in elucidating the complex dynamics between macroeconomic factors and TA. Both an increase and a decrease in GPR lead to an increase in TA. A 1% negative shock in GPR leads to an increase in TA by 1.68%, whereas a 1% positive shock in GPR also leads to an increase in TA by 0.5%. In other words, despite the increase in GPR, the number of tourists coming to Russia increases by 0.5% for every 1% increase in that risk. Several explanations could account for this phenomenon: (1) risk-tolerant tourists: some tourists might be less sensitive to GPR or they might find the associated risks acceptable; (2) economic incentives: increased risk might lead to a depreciation in the local currency and lower costs, making travel to Russia more affordable for international tourists; (3) niche tourism: some tourists might be attracted to destinations experiencing turmoil, either for the thrill or to gain firsthand experience of the situation; (4) lagged effects: there might be a time lag between the increase in risk and the actual impact on tourist behavior, meaning the effects might be observed differently over a longer period.

Our study, employing the NARDL model and utilizing a dataset spanning from 1995 to 2023, investigates the impact of GPR, gross domestic product (GDP), real effective exchange rate (REER) and economic policy uncertainty (EPU) on TA in Russia. This research is unique because the dataset was compiled by the authors. The results show a complex relationship between GPR and TA, indicating that factors influencing TA can be multifaceted and not always intuitive.

This study aims to validate the link between production manipulation and a firm’s performance variability (fundamentals and stock returns). It explores whether executives' risk-taking incentives encourage production deviations around the normal level during uncertainty.

Utilizing panel data of manufacturing firms from Compustat over three decades, the study investigates production management practices during economic uncertainty. The Economic Policy Uncertainty Index (EPU) is employed as a key metric. The empirical strategy involves documenting the effect of economic uncertainty on overproduction and underproduction, examining the role of executive compensation and assessing the impact on risk.

The research finds that risk-taking incentives increase over/underproduction, particularly amplifying the extent of underproduction during uncertainty. Production deviation rises, indicating that firms take greater risk by engaging in abnormal business operations. The study’s results are robust against various econometric methods, emphasizing the influence of risk-taking incentives on corporate production decisions.

While providing valuable insights, the study acknowledges inherent limitations, including factors influencing production decisions beyond risk-taking incentives. Further research could explore additional determinants for a comprehensive understanding.

The findings highlight the potential dark side of executive compensation that motivates suboptimal risk-taking decisions, impacting risk, cost of capital and firm performance. Policymakers and compensation committees can use these insights to design efficient systems that mitigate moral hazard problems associated with productivity changes.

The study emphasizes the broader social implications of production manipulation under uncertainty. It prompts discussions on the ethical considerations of managerial opportunism, its potential consequences for stakeholders and market dynamics.

This study contributes to the literature by examining the role of economic uncertainty on production manipulation and the influence of risk-taking incentives. It extends the earnings management literature by considering real activity manipulation and emphasizing the importance of decomposing production deviation into positive and negative values.

Face is the most intuitive and representative feature at the individual level. Many studies show that beautiful faces help individuals and enterprises obtain economic benefits and form a high economic premium, but the discussion of their potential social value is insufficient. This study aims to focus on the impact of the personal characteristics of executives. It mainly analyzes the impact mechanism of CEO facial attractiveness on corporate social responsibility (CSR) decision-making, clarifying the social value of beauty from the perspective of CSR.

The authors use the regression model to analyze the panel data set, which was conducted by a sample of Chinese publicly listed firms from 2016 to 2018.

The study found that CEOs with high facial attractiveness are more active in fulfilling CSR, which can usually bring higher social benefits. CEOs with beautiful faces are prone to overconfidence, are optimistic about their ability and the future development of the enterprise and are more willing to increase their investment in CSR. CEO duality can positively regulate the positive correlation between a CEO’s facial attractiveness and CSR.

Based on the perspective of upper echelons theory, this paper explores the mechanism of CEO facial attractiveness on CSR. This study enriches the perspective of the upper echelon’s theoretical research and has essential enlightenment for CEO selection and training practice.

Despite representing a relatively small portion of the population, those who experience repeat victimization make up a significant share of all sexual and violent crimes, implying that perpetrators target them repeatedly. Indeed, research reveals specific traits (e.g. submissiveness) and behaviors (e.g. gait) related to past victimization or vulnerability. The purpose of this study is to explore the link between personality traits, self-assessed vulnerability and nonverbal cues.

In all, 40 undergraduate Canadian women were videotaped while recording a dating profile. Self-report measures of assertiveness, personality traits and vulnerability ratings for future sexual or violent victimization were obtained following the video-recording. The videotape was coded for nonverbal behaviors that have been related to assertiveness or submissiveness.

Self-perceived sexual vulnerability correlated with reduced assertiveness and dominance and increased emotionality (e.g. fear and anxiety). Additionally, nonverbal behaviors differed based on personality traits: self-touch was linked to lower assertiveness, dominance and extraversion and higher submissiveness, emotionality and warm-agreeableness.

To the best of the authors’ knowledge, this is the first study of its kind to consider the relationships between personality, self-perceived vulnerability and nonverbal behaviors among college-aged women. Potential implications, including enhancing autonomy and self-efficacy, are discussed.

This paper aims to find the effects of mothers’ schooling on child schooling.

This paper uses Bangladesh's Household Income and Expenditure Survey (HIES), which is a nationally representative survey. It employs the instrumental variable technique to estimate the intergenerational model.

Interestingly, the results show that the intergenerational transmission of schooling from mothers is slightly higher than that of fathers in Bangladesh.

Estimating the intergenerational model is challenging due to the endogeneity issue. The methodology used in this paper may help to find similar evidence from other countries.

The findings of the study may help to design and evaluate the educational policies in Bangladesh or a country like Bangladesh. For instance, the results of this paper suggest that the female stipend program (FSP) in Bangladesh is effective for the next generation’s schooling.

This paper is among the first to analyze the effect of mother’s schooling on the child’s schooling, controlling the father’s education and other household characteristics. In addition, it controls for endogeneity bias due to genetic transmission.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-06-2023-0491

This work analyzes, through social-environmental reports, whether banks with higher transparency in social-environmental policies better safeguard financial stability in Brazil.

The analysis is carried out through a panel database analysis of the 42 largest Brazilian banks, representing 98% of the Brazilian financial system. Seeking to avoid spurious results, we followed rigorous methodological standards. Hence, we conducted an empirical analysis using a dynamic panel data model, we used the difference generalized method of moments (D-GMM) and the system generalized method of moments (S-GMM).

The results show that the higher the transparency of social-environmental policies, the lower the chance of possible stress on the financial stability of Brazilian banks. In sum, this study builds evidence that disclosing risks related to policies about sustainability can enhance financial stability. It is essential to highlight that social-environmental transparency does not have as direct objective financial stability.

The manuscript submitted represents an original work that analyzes whether banks with higher transparency in social-environmental policies better safeguard financial stability. Some countries, such as Brazil, have their potential for sustainable policies spotlighted due to their green territory and diverse natural ecosystems. Besides having green potential, Brazil is a developing country with a well-developed financial system. These characteristics make Brazil one of the best laboratories for studying the relationship between transparency in social-environmental policies and financial stability.

Many studies have investigated dynamic positions and their importance, but there is less attention paid to how to enter more central positions. Interorganizational relationships are an important factor in network structural change. In Chinese society, firms allocate significant human, financial and material resources towards cultivating guanxi. The purpose of this study is to explore whether and how the three aspects of guanxi, namely renqing, ganqing and xinyong, can make firms more central, and to examine the mediating role of interaction.

The study used a mixed method to collect data from 256 Chinese Cops (complex product systems) firms. And, hypotheses were tested using SPSS 25.0 and AMOS 26.0.

The results indicate that renqing, ganqing and xinyong have significant positive effects on the increase in centrality, but with varying magnitudes. Additionally, the interaction was found to mediate the relationship between the three aspects of guanxi (renqing, ganqing and xinyong) and the increase in centrality.

The study provides new insights to help firms become more central by combining guanxi (renqing, ganqing and xinyong) with change in centrality, enriching the literature on network dynamics and guanxi-related research. Moreover, the study provides managers with a clear understanding of how to use guanxi to make the firm more central in situations with limited resources.