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Open Access
Article
Publication date: 25 August 2021

Luis Berggrun, Emilio Cardona and Edmundo Lizarzaburu

This article examines whether deviations from fundamental value or closed-end country fund's discounts or premiums forecast future share price returns or net asset returns.

Abstract

Purpose

This article examines whether deviations from fundamental value or closed-end country fund's discounts or premiums forecast future share price returns or net asset returns.

Design/methodology/approach

The main empirical (econometric) tool is a vector autoregressive (VAR) model. The authors model share price returns and net asset returns as a function of their lagged values, the discounts or premiums, and a control variable for local market returns. The authors also conduct Dickey Fuller and Granger causality tests as well as impulse response functions.

Findings

It was found that deviations from fundamental value do predict share price returns. This predictability is contrary to weak-form market efficiency. Premiums or discounts predict net asset returns but weakly.

Originality/value

The findings point to the idea that the closed-end fund market is somewhat predictable and inefficient (in its weak form) since the market appears to be able to anticipate a fund's future returns using information contained in the premiums (or discounts). In particular, the market has the ability to anticipate future behaviour because growing premiums forecast declining share price returns for one or two periods ahead.

Details

Journal of Economics, Finance and Administrative Science, vol. 26 no. 52
Type: Research Article
ISSN: 2218-0648

Keywords

Book part
Publication date: 24 November 2022

Karol Valderrama-Burgos

In almost 100 years of Colombian cinema, very few productions have had action-oriented narratives at the core of the film, as this cinema has chiefly developed around mainstream…

Abstract

In almost 100 years of Colombian cinema, very few productions have had action-oriented narratives at the core of the film, as this cinema has chiefly developed around mainstream genres of melodrama and popular comedy. Rather than a cinematic end, ‘action’ has worked more as a specific means, mainly through thrillers, for directors to represent, question, and denounce the Colombian armed conflict – a central national issue for over 70 years. Whilst such films have tended to showcase male heroes, some recent productions subvert this tradition, and echo aspects of contemporary action cinema in Hollywood, where female representations problematise the perpetuated male image of the action hero.

This chapter examines contemporary Colombian films that offer hybrid images of female warriors who are (anti)heroic or disruptive, within the conventions of the action genre and within the dominant patriarchal discourse of Colombian narrative cinema, concentrating on Rosario Tijeras (Maillé, 2005) and La Sargento Matacho (González, 2017). Following research on Colombian cinema, context and conflict, this chapter highlights how female characters subsist in the public sphere, taking an active part in illegal armed organisations. It also questions how these representations may promote typologies of female emancipations (victimisers, anti-heroines, hybrid tomboys and war fighters), articulating key notions of emancipation. Ultimately, this chapter reiterates how postmodern representations of the female body subvert classic features of the Hollywood action cinema, by offering inaugural images of tough women within the Colombian/Hispanic popular culture and contexts, by examining particular sequences through Creed's multiple views on the female multi-faceted representations in cinema and Tasker's ample theory on action women and bodies.

Book part
Publication date: 28 August 2023

Caroline Wolski, Kathryn Freeman Anderson and Simone Rambotti

Since the development of the COVID-19 vaccinations, questions surrounding race have been prominent in the literature on vaccine uptake. Early in the vaccine rollout, public health…

Abstract

Purpose

Since the development of the COVID-19 vaccinations, questions surrounding race have been prominent in the literature on vaccine uptake. Early in the vaccine rollout, public health officials were concerned with the relatively lower rates of uptake among certain racial/ethnic minority groups. We suggest that this may also be patterned by racial/ethnic residential segregation, which previous work has demonstrated to be an important factor for both health and access to health care.

Methodology/Approach

In this study, we examine county-level vaccination rates, racial/ethnic composition, and residential segregation across the U.S. We compile data from several sources, including the American Community Survey (ACS) and Centers for Disease Control (CDC) measured at the county level.

Findings

We find that just looking at the associations between racial/ethnic composition and vaccination rates, both percent Black and percent White are significant and negative, meaning that higher percentages of these groups in a county are associated with lower vaccination rates, whereas the opposite is the case for percent Latino. When we factor in segregation, as measured by the index of dissimilarity, the patterns change somewhat. Dissimilarity itself was not significant in the models across all groups, but when interacted with race/ethnic composition, it moderates the association. For both percent Black and percent White, the interaction with the Black-White dissimilarity index is significant and negative, meaning that it deepens the negative association between composition and the vaccination rate.

Research limitations/implications

The analysis is only limited to county-level measures of racial/ethnic composition and vaccination rates, so we are unable to see at the individual-level who is getting vaccinated.

Originality/Value of Paper

We find that segregation moderates the association between racial/ethnic composition and vaccination rates, suggesting that local race relations in a county helps contextualize the compositional effects of race/ethnicity.

Details

Social Factors, Health Care Inequities and Vaccination
Type: Book
ISBN: 978-1-83753-795-2

Keywords

Article
Publication date: 4 August 2021

Piera Centobelli, Roberto Cerchione, Livio Cricelli, Emilio Esposito and Serena Strazzullo

In recent years, economic, environmental and social sustainability has become one of the fastest-growing research fields. The number of primary and secondary papers addressing the…

Abstract

Purpose

In recent years, economic, environmental and social sustainability has become one of the fastest-growing research fields. The number of primary and secondary papers addressing the triple bottom line is growing significantly, and the supply chain (SC) management discipline is in the same wave. Therefore, this paper aims to propose a novel tertiary systematic methodology to explore, aggregate, categorise and analyse the findings provided by secondary studies.

Design/methodology/approach

A novel tertiary systematic literature review approach, including 94 secondary studies, is proposed and used to analyse sustainable SC literature. The papers have been analysed using a research protocol, including descriptive and content analysis criteria.

Findings

This tertiary study does not only provide an overview of the literature on the topic of sustainability in SCs but also goes further, drawing up a categorisation of main research areas and research perspectives adopted by previous researchers. The paper also presents a rank of research gaps and an updated and a prioritised agenda.

Originality/value

This paper provides a novel interpretation of the research topics addressed by the secondary studies and presents a new classification of the literature gaps and their evolution. Finally, a dynamic research compass for both academicians and practitioners is presented.

Article
Publication date: 7 April 2020

César-Augusto Bernal, Norbey Amaya, Alicia Gaviria-Peñaranda and Anne Marie Zwerg-Villegas

The aim of this study is to analyze the importance of knowledge in reaching organizational objectives (long-term organizational goals) and in constructing competitive advantage…

Abstract

Purpose

The aim of this study is to analyze the importance of knowledge in reaching organizational objectives (long-term organizational goals) and in constructing competitive advantage (value-added) and identifying the impact of this knowledge on organizational performance of franchised restaurants in an emerging market.

Design/methodology/approach

Likert-scale surveys were applied to 50 managers representing 80% of the franchised restaurant business in Bogotá, Colombia. Data processing was performed through descriptive statistics, multiple correspondences analysis (MCA) and logit regression (LR).

Findings

Results indicate that 1) of the set of factors that contribute to the achievement of franchise objectives, personnel motivation and continuous environmental scanning are the most important; 2) the primary sources of knowledge for construction of competitive advantage are clients and providers; and 3) the most significant impact of knowledge occurs in human resource and organizational development and in increased earnings.

Practical implications

The study provides evidence of the role and the impact of knowledge in the performance of franchised restaurants and thereby contributes to academic analysis and managerial decision-making.

Originality

This study provides aggregated and disaggregated analysis of empirical data on the role of knowledge in franchised restaurants, a sector with limited extant research in the context of emerging markets.

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