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1 – 2 of 2Michaelia Widjaja, Gaby and Shinta Amalina Hazrati Havidz
This study aims to identify the ability of gold and cryptocurrency (Cryptocurrency Uncertainty Index (UCRY) Price) as safe haven assets (SHA) for stocks and bonds in both…
Abstract
Purpose
This study aims to identify the ability of gold and cryptocurrency (Cryptocurrency Uncertainty Index (UCRY) Price) as safe haven assets (SHA) for stocks and bonds in both conventional (i.e. stock indices and government bonds) and Islamic markets (i.e. Islamic stock indices and Islamic bonds (IB)).
Design/methodology/approach
The authors employed the nonadditive panel quantile regression model by Powell (2016). It measured the safe haven characteristics of gold and UCRY Price for stock indices, government bonds, Islamic stocks, and IB under gold circumstances and level of cryptocurrency uncertainty, respectively. The period spanned from 11 March 2020 to 31 December 2021.
Findings
This study discovered three findings, including: (1) gold is a strong safe haven for stocks and bonds in conventional and Islamic markets under bearish conditions; (2) UCRY Price is a strong safe haven for conventional stocks and bonds but only a weak safe haven for Islamic stocks under high crypto uncertainty; and (3) gold offers a safe haven in both emerging and developed countries, while UCRY Price provides a better safe haven in developed than in emerging countries.
Practical implications
Gold always wins big for safe haven properties during unstable economy. It can also win over investors who consider shariah compliant products. Therefore, it should be included in an investor's portfolio. Meanwhile, cryptocurrencies are more common for developed countries. Thus, the governments and regulators of emerging countries need to provide more guidance around cryptocurrency so that the societies have better literacy. On top of that, the investors can consider crypto to mitigate risks but with limited safe haven functions.
Originality/value
The originality aspects of this study include: (1) four chosen assets from conventional and Islamic markets altogether (i.e. stock indices, government bonds, Islamic stock indices and IB); (2) indicator countries selected based on the most used and owned cryptocurrencies for the SHA study; and (3) the utilization of UCRY Price as a crypto indicator and a further examination of the SHA study toward four financial assets.
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Keywords
There is evidence that spirituality at the workplace has positive effects on work outcomes, and there are different models conceptualizing the construct. To date, there is no…
Abstract
Purpose
There is evidence that spirituality at the workplace has positive effects on work outcomes, and there are different models conceptualizing the construct. To date, there is no discussion highlighting how digitalization is affecting workplace spirituality and vice versa. The present review tries to close this gap by discussing the psychological dynamics in light of digitalization and spirituality in the context of work.
Design/methodology/approach
This is a conceptual discussion based on an extensive narrative review. The conceptual design is further tested with a real-life case study.
Findings
The result is a model that may guide future research, which consists of the four highly interdependent domains, namely psychology (with the dimensions of emotion, cognition and behavior), digitalization (with the dimensions of platforms, data and algorithms), spirituality (with the dimensions of meaning, self-transcendation and belonging), as well as the workplace (with the dimensions of work tasks, location, community and culture and values). The discussion includes implications for the future of work, suggestions for management decisions and potential future research directions.
Originality/value
To date, there are many discussions about digital transformation and a limited amount of them have invested in analyzing psychological dimensions. The application to spirituality and the workplace – especially when the two are combined – is almost wholly absent, which makes the present discussion both innovative and original.
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