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As with post‐World War II economic policies, boom or bust are terms which can be applied to the birth rate. For those of us who are baby boomers, used to our place in the…
Abstract
As with post‐World War II economic policies, boom or bust are terms which can be applied to the birth rate. For those of us who are baby boomers, used to our place in the demographic spotlight as a focus for endless “what do young people want?” media features, the realization that marketing attention is switching to a new baby bust generation comes as something of a shock. After record births between 1946 and 1964, the rate decreased dramatically between the years 1965 and 1980. This new generation is entering the workforce en masse (albeit a smaller mass than in previous years) about now. Their new‐found spending power is having an impact in consumer markets causing marketers to ask the question “what do young people want?” and causing baby boomers everywhere to realize that, once again, a generation gap has opened up.
Faheem Aslam, Paulo Ferreira and Wahbeeah Mohti
The investigation of the fractal nature of financial data has been growing in the literature. The purpose is to investigate the multifractal behavior of frontier markets using…
Abstract
Purpose
The investigation of the fractal nature of financial data has been growing in the literature. The purpose is to investigate the multifractal behavior of frontier markets using multifractal detrended fluctuation analysis (MFDFA).
Design/methodology/approach
This study used daily closing prices of nine frontier stock markets up to 31-Aug-2020. A preliminary analysis reveals that these markets exhibit fat tails and clustering patterns. For a more robust analysis, a combination of Seasonal and Trend Decomposition using Loess (STL) and MFDFA has been employed. The former method is used to decompose daily stock returns, where later detected the long rang dependence in the series.
Findings
The results confirm varying degree of multifractality in frontier stock markets, implying that they exhibit long-range dependence. Based on these multifractality levels, Serbian and Romanian stock markets are the ones exhibiting least long-range dependence, while Slovenian and Mauritius stock markets indicating highest dependence in their series. Furthermore, the markets of Kenya, Morocco, Romania and Serbia exhibit mean reversion (anti-persistent) behavior while the remaining frontier markets show persistent behaviors.
Practical implications
The information given by the detection of the fractal measure of data can support for investment and policymaking decisions.
Originality/value
Frontier markets are of great potential from the perspective of international diversification. However, most of the research focused on other emerging and developed markets, especially in the context of multifractal analysis. This study combines the STL method and a physics-based robust technique, MFDFA to detect the multifractal behavior of frontier stock markets.
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Mrudula Manoj, Anjitha Ram Das, Arun Chandran and Santanu Mandal
Recent studies have classified ecotourism behaviour into specific components like site-specific ecological, pro-environmental and environmental learning behaviour. However, the…
Abstract
Purpose
Recent studies have classified ecotourism behaviour into specific components like site-specific ecological, pro-environmental and environmental learning behaviour. However, the role of materialism in generating these types of behaviour is not clearly understood. Materialism might also affect tourists' environmental engagement. Hence, this study embarks on exploring these research gaps.
Design/methodology/approach
All the constructs were operationalized as first-order factors based on extant scales of measurement. After suitable pretesting, the study was able to collect 122 valid responses. The responses were analysed using partial least squares (PLS).
Findings
Results suggest that environmental engagement and environmental learning behaviour have prominent roles as enablers. Furthermore, the importance of materialism is not statistically significant and requires further investigation.
Research limitations/implications
While the study showed that environmental engagement is a crucial precursor for the development of different types of ecotourism behaviour, it also has limitations. First, the study tested the validity of the proposed associations based on the perceptual responses of 122 tourists who are interested in participating in ecotourism. However, this may lack generalizability. Future research can take a common set of tourists or a specific destination and execute a longitudinal analysis to better understand the way ecotourism behaviour has evolved over time at a destination. This would in turn help the local people and tour planners to develop tourism packages and events.
Practical implications
As tourists are interested in environmental learning, they are eventually expected to take care of the destination environment in terms of protecting it in every form. This may include reporting of any environment damaging activity, for example, activities that can enhance environmental pollution, etc.
Social implications
Materialism hinders the environmental conservation spree of tourists, when they indulge more in shopping and leisure trips. Hence, for destination planners it is very important to hold complementary events in addition to the main event to highlight the dire need of involving in ecotourism activities.
Originality/value
The study is of significant contribution for researchers and practitioners as it develops the antecedents and consequences of environmental learning behaviour. Furthermore, this study has implications for managers working for sustainability of tourism destinations.
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This paper examines the effect of the holy month of Ramadan on the returns and conditional volatility of cryptocurrency markets.
Abstract
Purpose
This paper examines the effect of the holy month of Ramadan on the returns and conditional volatility of cryptocurrency markets.
Design/methodology/approach
The closing prices of six cryptocurrencies have been considered. The study employs different classical tests for checking if the efficiency behaviour is similar during Ramadan celebration days and non-Ramadan days. Besides, dummy variable regression technique for assessing this anomaly on returns and volatilities has been applied.
Findings
Although no significant effect on returns and volatility for Litecoin has been found, the results provide evidence about the existence of the Ramadan effects in cryptocurrency markets. The results of the mean equations show the existence of Ramadan effect for Ethereum, Ripple, Stellar and BinanceCoin for all considered models. Significant effect on Bitcoin returns is found with an autoregressive model of order 1. The results of conditional volatility show Ramadan effect on volatility is not detected.
Originality/value
First, a new contribution in the incipient study of cryptocurrency analysis. Second, a comprehensive review of recently published empirical articles about Ramadan effect on traditional assets has been carried out. Third, unlike most of the papers focussed on the study of Bitcoin, this study has been extended to six cryptocurrencies. Ramadan effect have not been analysed in cryptomarkets yet. This study come to fill this gap and analyses Ramadan effect, previously documented for traditional assets, in particular, stock index from Muslim countries, but not yet analysed in the cryptocurrency markets.
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Psychological and epidemiological literature suggests that the built environment plays both causal and therapeutic roles in schizophrenia, but what are the implications for…
Abstract
Purpose
Psychological and epidemiological literature suggests that the built environment plays both causal and therapeutic roles in schizophrenia, but what are the implications for designers? The purpose of this paper is to focus on the role the built environment plays in psycho‐environmental dynamics, in order that negative effects can be avoided and beneficial effects emphasised in architectural design.
Design/methodology/approach
The approach taken is a translational exploration of the dynamics between the built environment and psychotic illness, using primary research from disciplines as diverse as epidemiology, neurology and psychology.
Findings
The built environment is conceived as being both an agonist and as an antagonist for the underlying processes that present as psychosis. The built environment is implicated through several means, through the opportunities it provides. These may be physical, narrative, emotional, hedonic or personal. Some opportunities may be negative, and others positive. The built environment is also an important source of unexpected aesthetic stimulation, yet in psychotic illnesses, aesthetic sensibilities characteristically suffer from deterioration.
Research limitations/implications
The findings presented are based on research that is largely translated from very different fields of enquiry. Whilst findings are cogent and logical, much of the support is correlational rather than empirical.
Social implications
The WHO claims that schizophrenia destroys 24 million lives worldwide, with an exponential effect on human and financial capital. Because evidence implicates the built environment, architectural and urban designers may have a role to play in reducing the human costs wrought by the illness.
Originality/value
Never before has architecture been so explicitly implicated as a cause of mental illness. This paper was presented to the Symposium of Mental Health Facility Design, and is essential reading for anyone involved in designing for improved mental health.
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