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Article
Publication date: 7 February 2024

Luccas Assis Attílio, Joao Ricardo Faria and Mauricio Prado

The authors investigate the impact of the US stock market on the economies of the BRICS and major industrialized economies (G7).

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Abstract

Purpose

The authors investigate the impact of the US stock market on the economies of the BRICS and major industrialized economies (G7).

Design/methodology/approach

The authors construct the world economy and the vulnerability between economies using three economic integration variables: bilateral trade, bilateral direct investment and bilateral equity positions. Global vector autoregressive (GVAR) empirical studies usually adopt trade integration to estimate models. The authors complement these studies by using bilateral financial flows.

Findings

The authors summarize the results in four points: (1) financial integration variables increase the effect of the US stock market on the BRICS and G7, (2) the US shock produces similar responses in these groups regarding industrial production, stock markets and confidence but different responses regarding domestic currencies: in the BRICS, the authors detect appreciation of the currencies, while in the G7, the authors find depreciation, (3) G7 stock markets and policy rates are more sensitive to the US shock than the BRICS and (4) the estimates point out to heterogeneities such as the importance of industrial production to the transmission shock in Japan and China, the exchange rate to India, Japan and the UK, the interest rates to the Eurozone and the UK and confidence to Brazil, South Africa and Canada.

Research limitations/implications

The results reinforce the importance of taking into account different levels of economic development.

Originality/value

The authors construct the world economy and the vulnerability between economies using three economic integration variables: bilateral trade, bilateral direct investment and bilateral equity positions. GVAR empirical studies usually adopt trade integration to estimate models. The authors complement these studies by using bilateral financial flows.

Details

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

Keywords

Article
Publication date: 22 November 2023

Hamid Baghestani and Bassam M. AbuAl-Foul

This study evaluates the Federal Reserve (Fed) initial and final forecasts of the unemployment rate for 1983Q1-2018Q4. The Fed initial forecasts in a typical quarter are made in…

Abstract

Purpose

This study evaluates the Federal Reserve (Fed) initial and final forecasts of the unemployment rate for 1983Q1-2018Q4. The Fed initial forecasts in a typical quarter are made in the first month (or immediately after), and the final forecasts are made in the third month of the quarter. The analysis also includes the private forecasts, which are made close to the end of the second month of the quarter.

Design/methodology/approach

In evaluating the multi-period forecasts, the study tests for systematic bias, directional accuracy, symmetric loss, equal forecast accuracy, encompassing and orthogonality. For every test equation, it employs the Newey–West procedure in order to obtain the standard errors corrected for both heteroscedasticity and inherent serial correlation.

Findings

Both Fed and private forecasts beat the naïve benchmark and predict directional change under symmetric loss. Fed final forecasts are more accurate than initial forecasts, meaning that predictive accuracy improves as more information becomes available. The private and Fed final forecasts contain distinct predictive information, but the latter produces significantly lower mean squared errors. The results are mixed when the study compares the private with the Fed initial forecasts. Additional results indicate that Fed (private) forecast errors are (are not) orthogonal to changes in consumer expectations about future unemployment. As such, consumer expectations can potentially help improve the accuracy of private forecasts.

Originality/value

Unlike many other studies, this study focuses on the unemployment rate, since it is an important indicator of the social cost of business cycles, and thus its forecasts are of special interest to policymakers, politicians and social scientists. Accurate unemployment rate forecasts, in particular, are essential for policymakers to design an optimal macroeconomic policy.

Details

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

Keywords

Article
Publication date: 9 January 2023

Hardik Marfatia

Financial market holds superior information that can give insights into the future trajectory of economic growth. Further, identifying sectors that hold the key to future economic…

Abstract

Purpose

Financial market holds superior information that can give insights into the future trajectory of economic growth. Further, identifying sectors that hold the key to future economic growth is important for all economies, but particularly relevant to emerging markets. However, unlike existing studies, the paper provides new insights into the forward-oriented nexus between financial markets and economic growth.

Design/methodology/approach

This paper takes a forward-looking approach of using financial market information to predict future economic growth. The authors use ARDL modeling approach to predict economic growth using the information from stock market sectoral returns.

Findings

The authors find that sectoral stock returns significantly improve economic growth forecasts. However, the forecasting superiority is not uniform across sectors and horizons. Auto, consumers' spending, materials and realty sectors provide the most forecasting gains. In contrast, banking, capital goods and industrial sectors provide superior forecasts, but only at horizons beyond one year. The authors also find that the forecast superiority of sectors at longer horizons is inversely related to volatility.

Research limitations/implications

Research highlights the need for sector-focused policy actions in driving economic growth. Further, the findings of the paper identify sectors that drive short-, medium- and long-term economic growth.

Practical implications

There is a significant heterogeneity among different sectors and across horizons in predicting economic growth. Results suggest that targeted policy actions in sectors like materials, metals, oil and gas, and realty are key in driving economic growth. Further, policies geared toward the grassroots industries are at least as beneficial as the large-scale industries. Evidence also suggests the need for an active fiscal policy to address infrastructural bottlenecks in primary industries like basic materials and energy. Evidence nevertheless does not undermine the role of monetary policy actions.

Originality/value

Unlike any paper till date, the innovation of the paper is that it takes an ARDL modeling approach to measure stock market sectoral returns' ability to forecast economic growth several months ahead in the future. Though the paper considers the Indian case, the innovation and contribution extents to the entire field of economic studies.

Details

Journal of Economic Studies, vol. 50 no. 7
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 28 November 2022

Roslina Ab Wahid and Peck-Leong Tan

The purpose of the study is to identify the perceived lack of certain core knowledge, skills and attributes in external quality auditors (EQAs) that contributes to an audit…

Abstract

Purpose

The purpose of the study is to identify the perceived lack of certain core knowledge, skills and attributes in external quality auditors (EQAs) that contributes to an audit process that does not add value for client organizations. This paper describes the development of a competency requirement framework for quality management system (QMS) EQAs that would improve their capability and audit performance.

Design/methodology/approach

A review of relevant international literature on auditor competence and education, clients' expectations on external auditors, explicit and implicit expectations based on ISO 9001:2015 and ISO 19011:2018, and current auditor capability was conducted to obtain insights into the present situation and requirements of the environment. A survey questionnaire was then utilized in the collection of data from 19 heads of certification and technical reviewers of accredited certification bodies (CBs) in Malaysia. Univariate and bivariate analysis were used in analyzing the data from respondents.

Findings

The overall results show that the most important components of knowledge for EQAs to possess are quality management principles, system and standards; risk management; and business process and operations management. In terms of skills, the most important skills for auditors are auditing and report writing and critical/analytical thinking, followed by communication/interpersonal/people/ICT and team management. Attributes such as integrity, being ethical, professional and objective are found to be most important in EQAs to be effective and add value to the audits. Based on the results, the competency requirement framework of EQAs was developed.

Originality/value

This paper presents the knowledge, skills, attitudes and experience needed by EQAs identified by the CBs which is then developed into a competency requirements framework for future auditor training. The resulting framework from the study can be used by accreditation bodies, CBs and training organizations to evaluate and improve the auditors' competence and audit performance in the future.

Details

International Journal of Quality & Reliability Management, vol. 40 no. 7
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 28 March 2024

Zhikun Ding, Wanqi Nie, Vivian W.Y. Tam and Chethana Illankoon

The preferences and adoption of recycled materials by consumers are subject to a variety of factors, such as enablers and barriers. Despite this, there exists a paucity of…

Abstract

Purpose

The preferences and adoption of recycled materials by consumers are subject to a variety of factors, such as enablers and barriers. Despite this, there exists a paucity of research concerning stakeholders' perceived value and real purchase decision towards recycled products. Consequently, this research study aims to fill this gap by investigating stakeholders' perceived value of recycled products derived from construction and demolition (C&D) waste and its effect on purchase decisions.

Design/methodology/approach

Research data were collected from 219 valid questionnaires completed by Chinese stakeholders. Structural equation modeling (SEM) was then employed to test eight hypotheses.

Findings

The results show intrinsic cue (materials) and extrinsic cue (brand) influence the stakeholders’ judgment on C&D waste recycled products’ value and then their purchase intention. However, cues such as quality, word-of-mouth, price, policy and advertised have not play a significant role in practice.

Originality/value

This research study verified the significance of brand and material cues on decision making for purchasing C&D waste recycled products, providing new insights to policy making to enhance the uptake of C&D waste recycled products in construction industry.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 25 August 2023

Lei Feng and Piyapong Sumettikoon

This study aims to add a gender perspective to the current ecosystem of entrepreneurship education whereby an innovative model of the female entrepreneurship education ecosystem…

Abstract

Purpose

This study aims to add a gender perspective to the current ecosystem of entrepreneurship education whereby an innovative model of the female entrepreneurship education ecosystem (FEEE) consisting of five stakeholders (university, government, society, enterprise and the international community) is examined.

Design/methodology/approach

The study conducted an online questionnaire among 505 respondents from two universities and one higher vocational college in China. Confirmatory factor analysis (CFA) was used to test the correlation between factors and structural equation modeling (SEM) was applied to test the five hypotheses proposed in the study.

Findings

The results indicated that the five stakeholders (the university, government, society, enterprise and international community) positively affect FEEE. The study emphasizes the urgent demand to consider gender perspectives in the ecosystem of entrepreneurship education and provides plausible ways to conduct female-targeted education with the joint efforts of different stakeholders.

Practical implications

The study aims to increase the number of future female entrepreneurs, enhance the future skills of female students in the digital era and ultimately advance humankind. The study emphasizes the urgent demand to consider gender-perspective in the entrepreneurship education ecosystem and provides plausible ways to conduct female-targeted education with the joint efforts of different stakeholders.

Originality/value

This paper sheds light on evaluating FEEE through five stakeholders' dimensions, which explores the solutions to the current female entrepreneurship education (FEE) issues.

Details

International Journal of Educational Management, vol. 37 no. 6/7
Type: Research Article
ISSN: 0951-354X

Keywords

Article
Publication date: 29 January 2024

Sarita Sood

There is a link between stress experienced during adversity and negative outcomes, which demands the identification of mechanisms to minimize the harm. However, to date, these…

Abstract

Purpose

There is a link between stress experienced during adversity and negative outcomes, which demands the identification of mechanisms to minimize the harm. However, to date, these mechanisms remain unclear. This study will help us understand how to reduce the negative impact of COVID-19 stress (CS) on COVID-19 burnout (CB). The purpose of this study is to investigate the mediating role of meaning in life (MIL) in the relationship between CS and CB in the general population.

Design/methodology/approach

During the second wave of COVID-19 in India, 514 adults aged 18–75 years (M = 33.11 ± SD =10.42) completed the survey online. Testing of the model was conducted using the structural equation modeling technique.

Findings

Results indicated that CS had a positive impact on CB. CS explained 49% of the variance in CB. A mediation model was used to examine the relationship between CS and CB through MIL, which was also supported.

Practical implications

These findings explain the efficacy of MIL in reducing harm. It is imperative to promote MIL to prevent negative outcomes. Instead of treating symptoms of disorders, psychologists, mental health professionals and health-care workers should focus on prevention.

Originality/value

The model explains the underlying mechanisms between CS and CB. This is among the very few studies attempting to explore these variables among the general population. Therefore, it adds to the literature on ways to reduce the negative impact of stressors.

Details

Journal of Public Mental Health, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5729

Keywords

Article
Publication date: 7 September 2023

Yasemin Özyer Güvener, Samet Dinçer and Enver Caner

This study was conducted to adapt the Fantastic Reality Ability Measurement (FRAME) into Turkish.

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Abstract

Purpose

This study was conducted to adapt the Fantastic Reality Ability Measurement (FRAME) into Turkish.

Design/methodology/approach

In the sample of this methodological study, 213 participants were included.

Findings

The factor loading of the tool was within the appropriate range (0.53–0.94). Its Cronbach's alpha was 0.975, and the item total score correlations ranged between 0.594 and 0.881.

Originality/value

The evaluation of the Turkish version of the FRAME revealed that it could be used as a valid and reliable measurement tool in Turkish population.

Details

International Journal of Emergency Services, vol. 12 no. 3
Type: Research Article
ISSN: 2047-0894

Keywords

Content available
Article
Publication date: 27 June 2023

Kristopher J. Brazil

Zara et al. (2023) provide novel findings into how psychopathy may develop, showing that early life predictors of poor relationships (e.g. being unwanted before birth) are…

Abstract

Purpose

Zara et al. (2023) provide novel findings into how psychopathy may develop, showing that early life predictors of poor relationships (e.g. being unwanted before birth) are predictive of psychopathy in adulthood. The authors provide a theoretical interpretation of why psychopathy might develop based on these findings by using an adaptive perspective, suggesting that psychopathy may protect or shield individuals from poor relationships. This commentary aims to critically evaluate and extend this latter suggestion in hopes of fostering further research and clarity on the topic.

Design/methodology/approach

After presenting an overview of evolutionary perspectives, a summary and elaboration are presented of the interpretation that psychopathy may be an adaptive response that functions to protect individuals from poor relationships. Then, an additional adaptive interpretation is offered.

Findings

Psychopathy describes a collection of traits and behavior that facilitates an approach-oriented and exploitative motivational style that might suggest more than a protective function. When negative or poor relationships are experienced (e.g. being unwanted), it is suggested that psychopathy may begin to develop not just for protection (If I am not loved, I will shield myself from those around me) but to actively orient toward exploitation (If I am not loved, I will exploit those around me).

Originality/value

This commentary hopes to arouse further interest into the theoretical interpretations of why psychopathy may develop that are based on findings of how psychopathy develops. These considerations are consequential for understanding what to target in treatments that aim to meet the specific needs and motivations of individuals with psychopathic traits.

Details

Journal of Criminal Psychology, vol. 14 no. 1
Type: Research Article
ISSN: 2009-3829

Keywords

Article
Publication date: 15 December 2022

Steven Barnes, Julie Prescott and Joseph Adams

This study aims to evaluate a novel mobile therapeutic videogame for adolescents with anxiety disorders (ADs), combining elements of cognitive-behavioural therapy and…

Abstract

Purpose

This study aims to evaluate a novel mobile therapeutic videogame for adolescents with anxiety disorders (ADs), combining elements of cognitive-behavioural therapy and attention-bias modification, in terms of both its therapeutic efficacy over a controlled intervention and two-month follow-up, as well as the extent and implications of self-directed play.

Design/methodology/approach

A within-groups design with two parallel conditions [clinical anxiety (N = 16) and subclinical/at-risk (N = 15)] were measured on both self-reported anxiety and threat-detection bias (TDB) across three timepoints (pre- and post-intervention and two-month follow-up).

Findings

Significant reductions were observed in both self-reported state and trait anxiety and TDB over the course of the two-week intervention, which were maintained at follow-up. Engagement in self-directed play during the follow-up period significantly predicted outcomes at two-month follow-up for clinical participants.

Originality/value

To the best of the authors’ knowledge, this paper represents the first of its kind to evaluate a mobile therapeutic game designed with and solely for adolescents with ADs. This study also represents the first of its kind to examine the extent and implications of self-directed play for outcomes.

Details

Mental Health and Social Inclusion, vol. 27 no. 2
Type: Research Article
ISSN: 2042-8308

Keywords

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