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Article
Publication date: 21 August 2002

Jing Sun

Process capability indices as an important kind of indices are intended to provide single‐number assessments of the inherent process capability to meet specification…

Abstract

Process capability indices as an important kind of indices are intended to provide single‐number assessments of the inherent process capability to meet specification limits on quality characteristic(s) of interest. In this paper the condition for the application of process capability indices is analyzed. On the basis of process capability indices, dynamic process capability indices as a new kind of indices to show the current process capability are discussed and the condition for the application of dynamic process capability indices is exhibited. Comparison between process capability index and dynamic process capability index and comparison between Dp and Dpk are made and the conclusions provide the approach for process control. According to the requirement of process capability indices provided by customer, quality control based on process capability indices dynamic process capability indices is ciscussed.

Details

Asian Journal on Quality, vol. 3 no. 2
Type: Research Article
ISSN: 1598-2688

Keywords

Book part
Publication date: 20 May 2019

Salman Ahmed Shaikh, Abdul Ghafar Ismail and Mohd Adib Ismail

Muslim investors must comply with the ethical injunctions prescribed for them while making financial investments. As per Islamic principles, the use of Riba (interest)…

Abstract

Muslim investors must comply with the ethical injunctions prescribed for them while making financial investments. As per Islamic principles, the use of Riba (interest), Maysir (gambling) and Gharar (uncertain or contingent payoff contracts) is prohibited. This chapter provides some recent post great financial crisis evidence on the comparative performance of Islamic and conventional market indices. Islamic indices outperformed conventional market indices in terms of annualized returns except for emerging markets. In the overall period of 2007-16, it is found that Islamic indices have a lower coefficient of variation and hence higher reward to variability ratio. This suggests that Islamic indices are superior to conventional market indices adjusting for variability in returns. In most comparable Islamic and conventional indices, a strong co-movement and long-term co-integrating relationship is found. The results also highlighted causality running from conventional indices to the Islamic indices in most of the market groups, except for the S&P Global.

Details

Research in Corporate and Shari’ah Governance in the Muslim World: Theory and Practice
Type: Book
ISBN: 978-1-78973-007-4

Keywords

Book part
Publication date: 10 October 2017

Gaston Yalonetzky

The relative bipolarisation literature features examples of indices which depend on the median of the distribution, including the renowned Foster–Wolfson index. This study…

Abstract

The relative bipolarisation literature features examples of indices which depend on the median of the distribution, including the renowned Foster–Wolfson index. This study shows that the use of the median in the design and computation of relative bipolarisation indices is both unnecessary and problematic. It is unnecessary because we can rely on existing well-behaved, median-independent indices. It is problematic because, as the study shows, median-dependent indices violate the basic transfer axioms of bipolarisation (defining spread and clustering properties), except when the median is unaffected by the transfers. The convenience of discarding the median from index computations is further illustrated with a numerical example in which median-independent indices rank distributions according to the basic transfer axioms while median-dependent indices do not.

Details

Research on Economic Inequality
Type: Book
ISBN: 978-1-78714-521-4

Keywords

Open Access
Article
Publication date: 24 November 2022

Slah Bahloul and Fatma Mathlouthi

The objective of this paper is twofold. First, to study the safe-haven characteristic of the Islamic stock indexes and Sukuk during the crises time. Second, to evaluate…

Abstract

Purpose

The objective of this paper is twofold. First, to study the safe-haven characteristic of the Islamic stock indexes and Sukuk during the crises time. Second, to evaluate this property in the last pandemic. This study employs the daily dataset from June 15, 2015, to June 15, 2020, for the most affected countries by the earlier disease.

Design/methodology/approach

This study uses the Markov-switching Capital Asset Pricing Model (CAPM) approach and the basic CAPM for the main analysis and the safe haven index (SHI) recently developed by Baur and Dimpfl (2021) for the robustness test.

Findings

Based on Baur and Lucey's (2010) definition, empirical findings indicate that Islamic stock indexes cannot be a refuge throughout the crisis regime for all selected conventional markets. However, Sukuk are a strong refuge in Brazilian, Russian and Malaysian markets. For the remainder countries, except Italy, the USA and Spain, the Sukuk index offers weak protection against serious conventional market downturns. Similar conclusions are obtained during the COVID-19 global crisis period. Finally, results are confirmed by using the SHI.

Originality/value

To the best of the authors’ knowledge, this paper is the first study that evaluates the safe haven effectiveness of the Islamic index and Sukuk using the SHI in the most impacted countries by the COVID-19 outbreak.

Details

Islamic Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1319-1616

Keywords

Open Access
Article
Publication date: 22 November 2022

Kedong Yin, Yun Cao, Shiwei Zhou and Xinman Lv

The purposes of this research are to study the theory and method of multi-attribute index system design and establish a set of systematic, standardized, scientific index

Abstract

Purpose

The purposes of this research are to study the theory and method of multi-attribute index system design and establish a set of systematic, standardized, scientific index systems for the design optimization and inspection process. The research may form the basis for a rational, comprehensive evaluation and provide the most effective way of improving the quality of management decision-making. It is of practical significance to improve the rationality and reliability of the index system and provide standardized, scientific reference standards and theoretical guidance for the design and construction of the index system.

Design/methodology/approach

Using modern methods such as complex networks and machine learning, a system for the quality diagnosis of index data and the classification and stratification of index systems is designed. This guarantees the quality of the index data, realizes the scientific classification and stratification of the index system, reduces the subjectivity and randomness of the design of the index system, enhances its objectivity and rationality and lays a solid foundation for the optimal design of the index system.

Findings

Based on the ideas of statistics, system theory, machine learning and data mining, the focus in the present research is on “data quality diagnosis” and “index classification and stratification” and clarifying the classification standards and data quality characteristics of index data; a data-quality diagnosis system of “data review – data cleaning – data conversion – data inspection” is established. Using a decision tree, explanatory structural model, cluster analysis, K-means clustering and other methods, classification and hierarchical method system of indicators is designed to reduce the redundancy of indicator data and improve the quality of the data used. Finally, the scientific and standardized classification and hierarchical design of the index system can be realized.

Originality/value

The innovative contributions and research value of the paper are reflected in three aspects. First, a method system for index data quality diagnosis is designed, and multi-source data fusion technology is adopted to ensure the quality of multi-source, heterogeneous and mixed-frequency data of the index system. The second is to design a systematic quality-inspection process for missing data based on the systematic thinking of the whole and the individual. Aiming at the accuracy, reliability, and feasibility of the patched data, a quality-inspection method of patched data based on inversion thought and a unified representation method of data fusion based on a tensor model are proposed. The third is to use the modern method of unsupervised learning to classify and stratify the index system, which reduces the subjectivity and randomness of the design of the index system and enhances its objectivity and rationality.

Details

Marine Economics and Management, vol. 5 no. 2
Type: Research Article
ISSN: 2516-158X

Keywords

Article
Publication date: 29 November 2022

Menggen Chen and Yuanren Zhou

The purpose of this paper is to explore the dynamic interdependence structure and risk spillover effect between the Chinese stock market and the US stock market.

Abstract

Purpose

The purpose of this paper is to explore the dynamic interdependence structure and risk spillover effect between the Chinese stock market and the US stock market.

Design/methodology/approach

This paper mainly uses the multivariate R-vine copula-complex network analysis and the multivariate R-vine copula-CoVaR model and selects stock price indices and their subsector indices as samples.

Findings

The empirical results indicate that the Energy, Materials and Financials sectors have leading roles in the interdependent structure of the Chinese and US stock markets, while the Utilities and Real Estate sectors have the least important positions. The comprehensive influence of the Chinese stock market is similar to that of the US stock market but with smaller differences in the influence of different sectors of the US stock market on the overall interdependent structure system. Over time, the interdependent structure of both stock markets changed; the sector status gradually equalized; the contribution of the same sector in different countries to the interdependent structure converged; and the degree of interaction between the two stock markets was positively correlated with the degree of market volatility.

Originality/value

This paper employs the methods of nonlinear cointegration and the R-vine copula function to explore the interactive relationship and risk spillover effect between the Chinese stock market and the US stock market. This paper proposes the R-vine copula-complex network analysis method to creatively construct the interdependent network structure of the two stock markets. This paper combines the generalized CoVaR method with the R-vine copula function, introduces the stock market decline and rise risk and further discusses the risk spillover effect between the two stock markets.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 13 October 2022

Amzad Hossain, Ying Kong, Harvey Briggs and Kim Laycock

This paper aims to analyze Northern Manitoba employers' indexes of employability skills that influence the UCN (University College of the North) students' employability in…

Abstract

Purpose

This paper aims to analyze Northern Manitoba employers' indexes of employability skills that influence the UCN (University College of the North) students' employability in indigenous contexts.

Design/methodology/approach

This study constructs the employability skills into six indexes from employers' perspective: reading comprehension, numeracy, technology, soft skills, job searching skills and indigenous cultural awareness. Mixed methods have been applied to this research: survey data are used for empirical analysis of the six indexes of employability skills; secondary sources of similar studies together with functional theory in education as a framework is adopted to explore the breadth and depth of employability skills requested by employers; indexing analysis is adopted to validate the necessity of developing such skills in indigenous contexts in Northern Manitoba.

Findings

The correlation analyses and mean values show that employers in Northern Manitoba take the six indexes as influential factors of students' employability. As such, the study indicates that Northern Manitoba employers consider employability in indigenous contexts as a combination of basic skills, professional requirements, soft skills and cultural awareness. The employers' attested employability is in line with the concept of the technical-function theory, which requires education to meet the demand for updated job skills due to a technological change. Moreover, Northern Manitoba employers' emphasis on indigenous cultural awareness as employability skills rationalizes the necessity to integrate indigenous cultural contents into programs and curriculums in UCN and post-secondary institutes with similar attributes. It confirms that indigenous cultural awareness is required by employers in Northern Manitoba populated with indigenous communities. The research findings suggest that the functional theory of education might help UCN and similar institutions globally to offer programs that will reduce employment inequality.

Research limitations/implications

This research is conducted among the employers in Northern Manitoba, and the indexes and their factors are designed to evaluate UCN students' employability in general.

Practical implications

The outcomes of this paper can be applied as a parameter for upgrading educational strategies to integrate essential and professional employability skills such as reading comprehension, numeracy, technology, soft skills and job searching skills with indigenous cultural components into UCN curriculums and programs. It can be applied to other post-secondary institutes with similar attributes to enhance their students' employability. Furthermore, the research findings can be used as a guideline for UCN to tailor their programs for the job market locally and as references for post-secondary institutions with similar student compositions globally.

Originality/value

This paper provides empirical evidence from the employers' viewpoint to support the necessity of integrating essential and professional employability skills with indigenous cultural awareness into the curriculums and programs of UCN, a post-secondary institution in indigenous populated Northern Manitoba. Furthermore, it is also attested that employers consider indigenous cultural awareness as an influential factor of students' employability in indigenous contexts.

Details

Higher Education, Skills and Work-Based Learning, vol. 12 no. 6
Type: Research Article
ISSN: 2042-3896

Keywords

Article
Publication date: 13 October 2022

Masoud Shayganmehr, Anil Kumar, Jose Arturo Garza-Reyes and Edmundas Kazimieras Zavadskas

In this study, a novel framework was proposed to assess the trust in e-government (e-Gov) services under an uncertain environment. The proposed framework was applied in…

Abstract

Purpose

In this study, a novel framework was proposed to assess the trust in e-government (e-Gov) services under an uncertain environment. The proposed framework was applied in Iranian municipality websites of e-Gov services to evaluate the readiness score of trust in e-Gov services.

Design/methodology/approach

A unique hybrid research methodology was proposed. In the first phase, a comprehensive set of indices were determined from an extensive literature review and finalized by employing the fuzzy Delphi method. In the second phase, interval-valued intuitionistic fuzzy set (IVIFS) -was utilized to model the problem's uncertainty with analytic called IVIFS- hierarchy process (AHP) to determine the importance of indices and indicators by assigning the weights. In the third phase, the fuzzy evaluation method (FEM) is followed for assessing the readiness score of indices in case studies.

Findings

The findings indicated that “Trust in government” is the most significant index affecting citizen's trust in e-Gov services while “Maintenance and support” has the least impact on user's intention to use e–Gov services.

Research limitations/implications

The study contributes by introducing a unique research methodology that integrates three phases, including fuzzy Delphi, IVIFS AHP and fuzzy evaluation method. Moreover, the fuzzy sets theory helps to reach a more accurate result by modeling the inherent ambiguity of indicators and indices. Interval-valued intuitionistic fuzzy models the ambiguity of experts' judgments in an interval.

Practical implications

The study helps policy makers to monitor wider aspects of trust in e-Gov services as well as understanding their importance. The study enables policy makers to apply the framework to any potential case studies to evaluate the readiness score of indices and recognizing strengths and weakness of trust dimensions as well as recommending advice for improving the situation.

Originality/value

The study is one of the few to indicate significant indices of trust in e-Gov services in developing countries. The study shows the importance of indicators and indices by assigning a weight. Additionally, the framework can assess the readiness score of various case studies.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 11 October 2022

Sheela Sundarasen, Kamilah Kamaludin and Izani Ibrahim

The purpose of the study is to adopt Morlet’s wavelet method to examine the differences in the level of volatility (i.e. riskiness) between the conventional and Shari’ah…

Abstract

Purpose

The purpose of the study is to adopt Morlet’s wavelet method to examine the differences in the level of volatility (i.e. riskiness) between the conventional and Shari’ah indexes during the COVID-19 pandemic (February 4 to June 19, 2020) on selected Association of South East Asian Nation (ASEAN) and Gulf Cooperation Council (GCC) countries. As a comparison, the equivalent time period of relative tranquillity is used; February 4 to June 19, 2019.

Design/methodology/approach

Morlet’s wavelet method is used in analyzing the volatility levels for both the conventional and Shari’ah indexes before and during the COVID-19 pandemic for the selected ASEAN and GCC countries.

Findings

This study has several findings; first, the markets in the ASEAN region appear to be more volatile during the pandemic than in the GCC region. Second, most of the Shari’ah indexes were more volatile during the COVID-19 pandemic than their conventional counterparts. Nevertheless, the GCC index pairs appear to show more similarities between both the Shari’ah and conventional index.

Practical implications

The findings from this study indicate that investors, government, regulators and all other stakeholders should stay vigilant during a pandemic or health threat period as it has become a pertinent source of volatility spillovers. As such, investors should devise optimal asset allocation strategies, portfolio diversification and portfolio rebalancing measures, taking into consideration not only financial adversity but also public health gravity as a potential source of turbulent markets.

Originality/value

This study uses the wavelet method to examine the volatility level of both the Shari’ah and conventional indexes during the COVID-19 pandemic and its equivalent time frame in 2019. It has further added to the Islamic literature by comparing the volatility between selected ASEAN and GCC countries. The wavelet method is most appropriate for short-duration studies as it captures both the time and frequency domains of the time-series behavior.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Open Access
Article
Publication date: 1 September 2022

Sudeshna Ghosh

The outbreak and the spreading of the COVID-19 pandemic have impacted the global financial sector, including the alternative clean and renewable energy sector. This paper…

Abstract

Purpose

The outbreak and the spreading of the COVID-19 pandemic have impacted the global financial sector, including the alternative clean and renewable energy sector. This paper aims to assess the impact of the pandemic, COVID-19 on the stock market indices of the clean energy sector using quantile regression methods.

Design/methodology/approach

This study utilized daily data sets on the four major categories of stocks: (1) Morgan Stanley Capital International Global Alternative Energy Index, (2) WilderHill Clean Energy Index, (3) Renewable Energy Industrial Index (RENIXX) and (4) the S&P 500 Global Clean Index. The study adopts a multifactor capital asset pricing model.

Findings

Clean and alternative energy stocks are powerful instruments for diversification. However, the impact of the volatility index induced by infectious disease is negative and significant across quantiles.

Practical implications

For investors and policymakers, considering how the uncertainty caused by COVID-19 and the geopolitical index influences renewable energy markets is of great practical importance. For investors, it throws insights into portfolio diversification. For policy makers, it helps to devise strategies to reboot the economy along the lines of the deployment of renewables. This study sheds light on a global green-energy transition and has practical implications for renewable energy resilience in post-pandemic times.

Originality/value

This paper can be considered as a pioneer that explores the nexus between oil prices, interest rates, volatility index, and geopolitical risk upon the stock indices of clean and alternative sources of (renewable) energy in the COVID-19 pandemic situation. The results have important insights into the area of energy and policy decision-making. Additionally, the paper's novelty lies in using the explanatory variables associated with the Covid 19 pandemic.

Details

Journal of Economics and Development, vol. 24 no. 4
Type: Research Article
ISSN: 1859-0020

Keywords

1 – 10 of over 135000