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Article
Publication date: 23 September 2024

Walid Chkili

This paper investigates potential safe haven assets for Middle East and North Africa (MENA) stock markets during the uncertainty period of the COVID-19 pandemic.

Abstract

Purpose

This paper investigates potential safe haven assets for Middle East and North Africa (MENA) stock markets during the uncertainty period of the COVID-19 pandemic.

Design/methodology/approach

This study applies the dynamic conditional correlation–generalized autoregressive conditionally heteroskedastic (DCC-GARCH) model and the Diebold–Yilmaz spillover index for ten MENA stock markets, three precious metals and Bitcoin for the period 2013–2021.

Findings

Empirical results show, on the one hand, that the COVID-19 crisis risk has been transmitted to MENA stock markets through volatility spillover across markets. This has increased the conditional volatility for all markets. On the other hand, findings point out that the dynamic correlation between the precious metals/Bitcoin and stock markets is not stable and switches between low positive and negative values during the period under studies. Extending analysis to portfolio management, results reveal that investors should include precious metals/Bitcoin in their portfolio of stocks in order to reduce the risk of the portfolio. Finally, for the period of COVID-19, the analysis concludes that gold preserves its traditional role as a safe haven for MENA stock markets during the pandemic, while Bitcoin fails to provide this property.

Practical implications

These results have several implications for international investors, risk managers and financial analysts in terms of portfolio diversifications and hedging strategies. Indeed, the exploration of the volatility connectedness between financial, commodity and cryptocurrency markets becomes an essential task for all market participants during the COVID-19 outbreak. Such analysis can help investors and portfolio managers to evaluate the risk of investments in the MENA stock markets during the crisis period and to achieve the optimal diversification strategy and hedging instruments.

Originality/value

The paper interests MENA stock markets that experienced the last decade a substantial development in terms of market capitalization and number of listed firms. To the author’s knowledge, this is the first study that investigates the dynamic correlation between MENA stock markets and four potential safe haven assets, including three precious metals and Bitcoin. In addition, the paper employs two types of models, namely the DCC-GARCH model and the Diebold-Yilmaz spillover index.

Details

EuroMed Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1450-2194

Keywords

Article
Publication date: 12 September 2024

Cecilia Madero-Gonzalez, Jesus Vazquez-Hernandez and Fernando Gonzalez Aleu

This study aims to examine the impact of gamification on the five dimensions of meaningful learning (i.e. cooperative, active, authentic, constructive and intentional learning…

Abstract

Purpose

This study aims to examine the impact of gamification on the five dimensions of meaningful learning (i.e. cooperative, active, authentic, constructive and intentional learning) and undergraduate student performance taking online lessons.

Design/methodology/approach

Therefore, the authors conducted an experiment among undergraduate students taking online classes at the Mechanical and Electrical Engineering School at a public university during the COVID-19 pandemic. The experiment included one control and two observation groups using gamification (Golden Points). Qualitative and quantitative analyses were performed.

Findings

Results showed that gamification significantly affects meaningful learning and impacts student performance in online courses.

Originality/value

This study was limited to a single topic in a six-month course at a public university. Additional research is required to continue examining the impact of gamification in higher education institutions with different format courses and in other organisational sectors.

Details

Quality Assurance in Education, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0968-4883

Keywords

Open Access
Article
Publication date: 4 July 2024

Shinta Amalina Hazrati Havidz, Maria Divina Santoso, Theodore Alexander and Caroline Caroline

This study aims to identify the financial attributes of non-fungible tokens (NFTs) as safe havens, hedges or diversifiers against traditional (stock indices, foreign exchange…

Abstract

Purpose

This study aims to identify the financial attributes of non-fungible tokens (NFTs) as safe havens, hedges or diversifiers against traditional (stock indices, foreign exchange, gold and government bonds) and digital (Bitcoin and Ethereum) assets.

Design/methodology/approach

The quantile via moments was utilized, and the data spanned from 20 September 2021 to 31 January 2022. The authors incorporated feasible generalized least squares (FGLS) and difference-generalized method of moments (diff-GMM) as the robustness check.

Findings

Overall, NFTs offer strongly safe havens, hedging and diversifier attributes against cryptocurrencies, while weak properties for traditional assets. The specific findings are: (1) Bored Ape Yacht Club (BAYC) serves as a strong hedge for Bitcoin during market rise; (2) Mutant Ape Yacht Club (MAYC) serves as a strong safe haven against Bitcoin during market bull; (3) Crypto punk (CP) provides strong safe havens properties for gold during market turmoil while serving as a strong hedge against gold and Bitcoin on average and (4) the three blue-chip NFTs are powered by Ethereum blockchain, thus serving as a diversifier against Ethereum.

Practical implications

Bitcoin investors are suggested to include NFTs in their investment portfolio to mitigate the losses when Bitcoin falls. Meanwhile, the inclusion of crypto punk is advised for risk-averse investors who invest in gold. NFTs are powered by the Ethereum blockchain, indicating co-movement among them and thus, serve as diversifiers. Policymakers and regulators are suggested to watch closely over NFTs' great development and restructure the existing policies and thus, stabilization of asset markets can be achieved.

Originality/value

The originality aspects are: (1) focusing on the three blue-chip NFTs (i.e. BAYC, MAYC and CP) that are categorized as the largest NFTs by floor market capitalization; (2) testing the NFT attributes (safe havens, hedges or diversifiers) against traditional and digital assets, a.k.a., cryptocurrencies and (3) panel setting on 14 countries with the highest NFT users.

Details

Asian Journal of Accounting Research, vol. 9 no. 4
Type: Research Article
ISSN: 2459-9700

Keywords

Expert briefing
Publication date: 19 September 2024

China, the dominant producer, has seen output fall by 80% since 2016 while domestic demand has risen, resulting in a sharp fall in exports. This has curbed the ability of foreign…

Details

DOI: 10.1108/OXAN-DB289743

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 28 August 2024

Nacira Mecheri, Leila Lefrada, Messaoud Benounis, Chedia Ben Hassine, Houcine Berhoumi and Chama Mabrouk

Ascorbic acid, a water-soluble antioxidant, is an essential component of the human diet and is known for its potent antioxidant properties against several diseases. In recent…

Abstract

Purpose

Ascorbic acid, a water-soluble antioxidant, is an essential component of the human diet and is known for its potent antioxidant properties against several diseases. In recent years, there has been increasing interest in the development of nonenzymatic sensors due to their simplicity, efficiency and excellent selectivity. The aim of this study is to present a selective and sensitive method for the detection of ascorbic acid in aqueous system using a new electrochemical non-enzymatic sensor based on a gold nanoparticles Au-NPs-1,3-di(4-bromophényl)-5-tert-butyl-1,3,5-triazinane (DBTTA) composite.

Design/methodology/approach

Using the square wave voltammetry (SWV) technique, a series of Au-NPs-DBTTA composites were successfully developed and investigated. First, DBTTA was synthesized via the condensation of tert-butylamine and a4-bromoaniline. The structure obtained was identified by IR, 1H NMR and 13C NMR analysis. A glassy carbon electrode (GCE) was modified with 10–1 M DBTTA dissolved in an aqueous solution by cyclic voltammetry in the potential range of 1–1.4 V. Au-NPs were then deposited on the DBTTA/GCE by a chronoamperometric technique. SWV was used to study the electrochemical behavior of the modified electrode (DBTTA/Au-NPs/GCEs). To observe the effect of nanoparticles, ascorbic acid in a buffer solution was analyzed by SWV at the modified electrode with and without gold nanoparticles (Au-NPs).

Findings

The DBTTA/Au-NPs/GCE showed better electroanalytical results. The detection limit of 10–5 M was obtained and the electrode was proportional to the logarithm of the AA concentration in the range of 5 × 10−3 M to 1 × 10−1 with very good correlation parameters.

Originality/value

It was also found that the elaborated sensor exhibited reproducibility and excellent selectivity against interfering molecules such as uric acid, aspartic acid and glucose. The proposed sensor was tested for the recognition of AA in orange, and satisfactory results were obtained.

Details

Sensor Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0260-2288

Keywords

Article
Publication date: 18 September 2024

Altaf Ali, Mohammad Nazim and Shakil Ahmad

This study aims to analyze the adoption of open access (OA) publishing in social sciences within central universities in India, focusing on various aspects such as the growth of…

Abstract

Purpose

This study aims to analyze the adoption of open access (OA) publishing in social sciences within central universities in India, focusing on various aspects such as the growth of OA literature, the use of different OA routes and collaboration patterns in OA publications.

Design/methodology/approach

Ten central universities were selected based on their rankings in the National Institute Ranking Framework 2022. Data on OA publishing in social sciences were collected from the Social Science Citation Index of the Web of Science (WoS) database using the advanced search query “(CU=India OR AD=India) AND PY=(2003–2022) NOT PY=(2023).” Data analysis was conducted using MS Excel (v16.0), BibExcel (version 2017), Biblioshiny (version 4.1.2) and Google Open Refine (version 3.7).

Findings

The study found that 30.40% of total publications were OA, with BHU as leading institute in OA publishing. OA publishing in social sciences saw a consistent increase, peaking in 2022 with 209 publications. “Sustainability” and “Plos One” were among the top ten journals, with 103 and 34 OA papers, respectively. OA publications had a higher mean citation rate than closed access publications. Collaboration with seven and nine authors had higher mean citation rates, while six-author collaborations were lower. Indian researchers received the most citations collaborating with the USA, UK and Australia. The Netherlands and Saudi Arabia received the fewer citations, when collaborating with Indian authors.

Research limitations/implications

The study’s main limitation is its reliance on WoS data, excluding many OA publications from smaller or specialized journals. Additionally, the focus on high-ranked central universities may not represent the entire academic landscape, as OA publishing patterns vary across other institutions and disciplines.

Practical implications

The study’s findings suggest that advancing OA publishing in social sciences at Indian universities requires raising awareness of OA concepts, enhancing institutional support and policies and informing researchers about funding opportunities. Emphasizing Gold OA and funding publication fees can broaden access to research. Universities with low OA ratios should adopt similar policies, mandate public research deposits and develop technical infrastructure. Encouraging multi-author collaborations can boost research impact and citation rates. Insights from the study can help institutions and policymakers shape effective OA strategies, enhancing the visibility and impact of social science research.

Originality/value

This is the first study analyzing the adoption of OA in the field of social sciences in high-ranked central universities in India. It has implications for promoting OA and increasing accessibility to research outputs. Universities with higher OA ratios can lead in this regard and encourage others to adopt similar practices for overall OA growth.

Details

Global Knowledge, Memory and Communication, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9342

Keywords

Article
Publication date: 24 October 2023

Mariam Aljassmi, Awadh Ahmed Mohammed Gamal, Norasibah Abdul Jalil and K. Kuperan Viswanathan

It is widely argued that money laundering (ML) is not a new phenomenon and the pervasiveness of ML is associated with some severe economic, social and political costs. Due to the…

Abstract

Purpose

It is widely argued that money laundering (ML) is not a new phenomenon and the pervasiveness of ML is associated with some severe economic, social and political costs. Due to the lack of studies on the ML’s issue in the UAE, this study aims to examine the determinants of ML in the country between 1975 and 2020.

Design/methodology/approach

The autoregressive distributed lag bounds testing results demonstrate the presence of long-run relationship between ML and the selected macroeconomics variables. The analysis is validated by the dynamic ordinary least squares, the fully modified ordinary least squares and the canonical co-integration regression estimators.

Findings

The estimation result reveals that while the real estate market, outflow of money, arms procurement and size of the underground economy influences the size of ML positively, gold trade, the level of financial development and the size of economic activities are negatively associated with ML, both in the short- and long-run.

Originality/value

Up to date from a country-level analysis, no study has been devoted to the ML in UAE, except for Aljassmi et al. (2023). To the best of the authors’ knowledge, this study is the first to investigate the determinants of laundered money in the UAE economy. Based on these outcomes, strategies and measures which will deter the laundering of illicit funds through the real estate and gold market, remittance system, financial system and arms procurement contracts in the UAE are recommended.

Details

Journal of Money Laundering Control, vol. 27 no. 5
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 6 September 2024

Mauricio Garita, Celso Fernando Cerezo Bregni and Rodrigo Asturias

The purpose of this academic paper is to analyze Argentina’s inflationary situation through an understanding of its monetary policy over the years, and to identify its effect on…

Abstract

Purpose

The purpose of this academic paper is to analyze Argentina’s inflationary situation through an understanding of its monetary policy over the years, and to identify its effect on the country’s poverty, explaining the relationship between fiat currencies and stable currencies.

Design/methodology/approach

By analyzing the case of Argentina through descriptive methodology, the authors provide information on the use of stable currencies in Argentina and the reasons behind their use.

Findings

Through descriptive research, the authors were able to find out the situation regarding the use of stable currencies in Argentina. We identified how the country’s monetary policy has affected inflation and thus purchasing power parity.

Research limitations/implications

Given that cryptocurrency information is based on privacy, there are certain arguments that must be referred through qualitative aspects.

Practical implications

The importance of stablecoins in high inflation countries.

Social implications

The understanding on how cryptocurrencies are able to maintain purchasing power and help avoid inflation related poverty.

Originality/value

Discussion of cryptocurrency items, specifically stablecoins, has been limited due to their recent emergence and the existing discussion about their legality. The study presents an argument on the use of stablecoins by presenting a case that has not yet been studied.

Details

Journal of Strategy and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 2 September 2024

Muhannad Ahmad Atmeh, Bassam Mohammad Maali and Usama Fendi

This paper aims to propose a model of Zakah treatment for financial instruments. The model depends on the link between the financial assets and liabilities that emerge from a…

Abstract

Purpose

This paper aims to propose a model of Zakah treatment for financial instruments. The model depends on the link between the financial assets and liabilities that emerge from a financial instrument contract.

Design/methodology/approach

The determination of Zakah on contemporary financial instruments is controversial, with various conflicting Fatwas being presented. This paper introduces a theoretical model that integrates Fiqh rules, accounting, finance and economic principles to propose a method for calculating Zakah on financial instruments. This theoretical model can be the foundation for future empirical and statistical testing.

Findings

The proposed model advocates omitting the financial assets/liabilities when determining the Zakah base for companies, as the Zakah burden relies on the owner of the real asset. The paper elaborates on the implementation of the model on debts, investments and cash accounts.

Research limitations/implications

The paper does not investigate whether or not the accounting approach in dealing with financial contracts is deemed acceptable by Fiqh scholars, nor does it discuss whether or not this may affect the Zakah fatwas regarding these types of accounts.

Practical implications

The paper establishes a conceptual framework for the Zakah on financial assets. This will pave the way for future empirical research and testing to validate the framework in different contexts. In addition, if regulators adopt this model and apply it to all companies, it would promote fairness and justice at the national level.

Social implications

The proposed model advocates omitting the financial assets/liabilities when determining the Zakah base for companies, as the Zakah burden relies on the owner of the real asset. The paper elaborates on the implementation of the model on debts, investments and cash accounts.

Originality/value

To the best of the authors’ knowledge, this is the first attempt to utilize the accounting approach in order to determine the amount of Zakah.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 2 September 2024

Yong Wu, Bill Wang and Baofeng Huo

This paper focuses on the last-mile logistics (LML) operations in fulfilling online grocery orders and the related sustainability considerations in sparsely populated areas like…

Abstract

Purpose

This paper focuses on the last-mile logistics (LML) operations in fulfilling online grocery orders and the related sustainability considerations in sparsely populated areas like Australia. It aims to examine how online groceries in sparsely populated areas can benefit from online business. Specifically, this study seeks to investigate whether a centralized order fulfillment approach is better than the existing approach which fulfills online orders from local grocery stores.

Design/methodology/approach

A multi-method approach is employed to conduct a high level of cost and emission analysis between the existing and the proposed approaches to illustrate the ratios between the two approaches in terms of cost and carbon emissions. Mathematical models are developed with support from the literature. The model is empirically validated with a case study of grocery distribution in the city of Gold Coast, Australia.

Findings

It finds that the centralized order fulfillment approach in sparsely populated areas can achieve LML sustainability with low cost, high efficiency and less double handling. Meanwhile, the separation of in-store and online retailing processes improves the in-store shopping experience and online shopping visibility, jointly improves customer satisfaction, and consequently achieves a positive effect on long-term sustainability. Additionally, the possibility of automating order picking and dispatching at a central place can make the processes more efficient and help build more sustainable grocery retailing supply chains by using more environmentally friendly systems.

Originality/value

This paper offers analytical and empirical insights into the sustainability of multi-channel grocery retailing supply chains. The high-level model developed first incorporates the concept of online shopping adoption rates and can serve as a decision-making tool for practitioners to improve supply chain sustainability in LML.

Details

Industrial Management & Data Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-5577

Keywords

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