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Article
Publication date: 4 June 2024

Azhar Mohamad

This study examines herding behaviour in commodity markets amid two major global upheavals: the Russo–Ukraine conflict and the COVID-19 pandemic.

Abstract

Purpose

This study examines herding behaviour in commodity markets amid two major global upheavals: the Russo–Ukraine conflict and the COVID-19 pandemic.

Design/methodology/approach

By analysing 18 commodity futures worldwide, the study examines herding trends in metals, livestock, energy and grains sectors. The applied methodology combines static and dynamic approaches by incorporating cross-sectional absolute deviations (CSAD) and a time-varying parameter (TVP) regression model extended by Markov Chain Monte Carlo (MCMC) sampling to adequately reflect the complexity of herding behaviour in different market scenarios.

Findings

Our results show clear differences in herd behaviour during these crises. The Russia–Ukraine war led to relatively subdued herding behaviour in commodities, suggesting a limited impact of geopolitical turmoil on collective market behaviour. In stark contrast, the outbreak of the COVID-19 pandemic significantly amplified herding behaviour, particularly in the energy and livestock sectors.

Originality/value

This discrepancy emphasises the different impact of a health crisis versus a geopolitical conflict on market dynamics. This study makes an important contribution to the existing literature as it is one of the first studies to contrast herding behaviour in commodity markets during these two crises. Our results show that not all crises produce comparable market reactions, which underlines the importance of the crisis context when analysing financial market behaviour.

Open Access
Article
Publication date: 17 September 2024

Juliette I. Franqueville, James G. Scott and Ofodike A. Ezekoye

The COVID-19 pandemic dramatically affected the fire service: stay-at-home orders and potential exposure hazards disrupted standard fire service operations and incident patterns…

Abstract

Purpose

The COVID-19 pandemic dramatically affected the fire service: stay-at-home orders and potential exposure hazards disrupted standard fire service operations and incident patterns. The ability to predict incident volume during such disruptions is crucial for dynamic and efficient staff allocation planning. This work proposes a model to quantify the relationship between the increase in “residential mobility” (i.e. time spent at home) due to COVID-19 and fire and emergency medical services (EMS) call volume at the onset of the pandemic (February – May 2020). Understanding this relationship is beneficial should mobility disruptions of this scale occur again.

Design/methodology/approach

The analysis was run on 56 fire departments that subscribe to the National Fire Operations Reporting System (NFORS). This platform enables fire departments to report and visualize operational data. The model consists of a Bayesian hierarchical model. Text comments reported by first responders were also analyzed to provide additional context for the types of incidents that drive the model’s results.

Findings

Overall, a 1% increase in residential mobility (i.e. time spent at home) was associated with a 1.43% and 0.46% drop in EMS and fire call volume, respectively. Around 89% and 21% of departments had a significant decrease in EMS and fire call volume, respectively, as time spent at home increased.

Originality/value

A few papers have investigated the impact of COVID-19 on fire incidents in a few locations, but none have covered an extensive number of fire departments. Additionally, no studies have investigated the relationship between mobility and fire department call volumes.

Details

International Journal of Emergency Services, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2047-0894

Keywords

Article
Publication date: 20 August 2024

Hoang Long and Pham Trung-Kien

This study aims to quantify the influence of urbanization on housing prices at the district-based level, while also investigating the heterogeneous impacts across different…

Abstract

Purpose

This study aims to quantify the influence of urbanization on housing prices at the district-based level, while also investigating the heterogeneous impacts across different quantiles of housing prices.

Design/methodology/approach

The study uses remote-sensed spectral images from the Landsat 7 ETM+ satellite to measure urbanization, replacing prior reliance solely on urban population metrics. Subsequently, the two-step system generalized method of moments is used to evaluate how urbanization influences district-based housing prices through three spectrometries: Urban Index (UI), Normalized Difference Built-up Index (NDBI) and Built-Up Index (BUI). Finally, this study examines the heterogeneous impacts across various housing price quantiles through Dynamic Panel Quantile Regression with non-additive fixed effects under Markov Chain Monte Carlo simulation.

Findings

The study demonstrates that urbanization leads to an increase in regional housing prices. However, these impact magnitudes vary across housing price quantiles. Specifically, the impact exhibits an inverse V-shaped curve, with urbanization exerting a more pronounced influence on the 60th percentile of housing prices, while its effect on the 10th and 90th percentiles is comparatively weaker.

Originality/value

This study uses a novel method of remote sensing to measure urbanization and investigates its effects on housing prices. Furthermore, it provides an empirical application of non-additive fixed effect quantile regression for analyzing heterogeneity.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 23 August 2024

Mehmet Şükrü Bellibaş, Mahmut Polatcan, Muaz Özcan and Muhammet İbrahim Akyürek

The present study aims to examine the moderation role of school culture attributes (individualism versus collectivism) in the relationship between paternalistic leadership and…

Abstract

Purpose

The present study aims to examine the moderation role of school culture attributes (individualism versus collectivism) in the relationship between paternalistic leadership and teacher commitment, mediated by teacher well-being.

Design/methodology/approach

The data included 1,152 teachers across 104 schools in Türkiye using a multilevel moderated mediation SEM model to test relevant hypotheses.

Findings

The results showed that teacher well-being fully mediates the relationship between perceived paternalistic principal leadership and teacher commitment. Additionally, the collectivist orientation of school culture influences the strength of the association between paternalistic leadership and teacher commitment indirectly through well-being. More precisely, paternalistic leadership has a stronger link to teacher well-being and commitment when teachers identify the culture of their schools as relatively more collectivist.

Originality/value

This study offers empirical evidence of paternalistic school leadership in promoting teacher well-being and commitment depending on the school culture in a non-western country context.

Details

Journal of Educational Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-8234

Keywords

Article
Publication date: 18 September 2023

Mohammadreza Akbari

The purpose of this study is to examine how the implementation of edge computing can enhance the progress of the circular economy within supply chains and to address the…

Abstract

Purpose

The purpose of this study is to examine how the implementation of edge computing can enhance the progress of the circular economy within supply chains and to address the challenges and best practices associated with this emerging technology.

Design/methodology/approach

This study utilized a streamlined evaluation technique that employed Latent Dirichlet Allocation modeling for thorough content analysis. Extensive searches were conducted among prominent publishers, including IEEE, Elsevier, Springer, Wiley, MDPI and Hindawi, utilizing pertinent keywords associated with edge computing, circular economy, sustainability and supply chain. The search process yielded a total of 103 articles, with the keywords being searched specifically within the titles or abstracts of these articles.

Findings

There has been a notable rise in the volume of scholarly articles dedicated to edge computing in the circular economy and supply chain management. After conducting a thorough examination of the published papers, three main research themes were identified, focused on technology, optimization and circular economy and sustainability. Edge computing adoption in supply chains results in a more responsive, efficient and agile supply chain, leading to enhanced decision-making capabilities and improved customer satisfaction. However, the adoption also poses challenges, such as data integration, security concerns, device management, connectivity and cost.

Originality/value

This paper offers valuable insights into the research trends of edge computing in the circular economy and supply chains, highlighting its significant role in optimizing supply chain operations and advancing the circular economy by processing and analyzing real time data generated by the internet of Things, sensors and other state-of-the-art tools and devices.

Details

Management Decision, vol. 62 no. 9
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 17 September 2024

Mustafa Kocoglu, Xuan-Hoa Nghiem and Ehsan Nikbakht

In this study, we aim to investigate the connectedness spillovers among major cryptocurrency markets. Moreover, we also explore to identify factors driving this connectedness…

Abstract

Purpose

In this study, we aim to investigate the connectedness spillovers among major cryptocurrency markets. Moreover, we also explore to identify factors driving this connectedness, particularly focusing on the sentimentality of total, short-term, and long-term return connectedness spillovers among cryptocurrencies under Twitter-based economic uncertainties and US economic policy uncertainty. Finally, we investigate the extent to which cryptocurrency markets serve as a safe haven, hedge, and diversifier from news-based uncertainties.

Design/methodology/approach

This study employs the connectedness approach following the combination of Ando et al. (2022) QVAR and Baruník and Krehlík's (2018) frequency connectedness methodologies into the framework proposed by Diebold and Yilmaz (2012, 2014). The data covered from November 10, 2017, to April 21, 2023, and the factors driving cryptocurrency connectedness spillovers are identified and examined. The sentimentality of total, short-term, and long-term return connectedness spillovers among cryptocurrencies, concerning Twitter-based economic uncertainties and US economic policy uncertainty, are analyzed. We apply the Wavelet quantile correlation (WQC) method developed by Kumar and Padakandla (2022) to explore the effects of Twitter-based economic uncertainties and US economic policy uncertainty on Cryptocurrency market connectedness risk spillovers. Besides, we check and present the robustness of WQC findings with the multivariate stochastic volatility method.

Findings

Our findings indicate that Ethereum and Bitcoin are net shock transmitters at the center of the connectedness return network. Ethereum and Bitcoin hold the highest market capitalization and value in the cryptocurrency market, respectively. This suggests that return shocks originating from these two cryptocurrencies have the most significant impact on other cryptocurrencies. Tether and Monero are the net receivers of return shocks, while Cardano and XRP exhibit weak shock-transmitting characteristics through returns. In terms of return spillovers, Ethereum is the most effective, followed by Bitcoin and Stellar. Further analysis reveals that Twitter economic policy uncertainty and US economic policy uncertainty are effective drivers of short-term and total directional spillovers. These uncertainty indices exhibit positive coefficient signs in short-term and total directional spillovers, which turn predominantly negative in different magnitudes and frequency ranges in the long term. In addition, we also document that as the Total Connectedness Index (TCI) value increases, market risk also rises. Also, our empirical findings provide significant evidence of Twitter-based economic uncertainties and US economic policy uncertainty that affect short-term market risks. Hence, we state that risk-connectedness spillovers in cryptocurrency markets enclose permanent or temporary shock variations. Besides, findings of the low value of long-term spillovers suggest that risk shocks in cryptocurrency markets are not permanent, indicating long-term changes require careful monitoring and control over market dynamics.

Practical implications

In this study, we find evidence that Twitter's news-based uncertainty and US economic policy uncertainty have a significant effect on short-term market risk spillovers. Furthermore, we observe that high cryptocurrency market risk spillovers coincide with periods of events such as the US-China trade tensions in January 2018, the Brexit process in February 2019, and the COVID-19 outbreak in November 2019. Next, we observe a decline in cryptocurrency market risk spillovers after March 2020. The reason for this mitigation of market risk spillover may be that the Fed's quantitative easing signals have initiated a relaxation process in the markets. Because the Fed's signal to fight inflation in March 2022 also coincides with the period when risk spillover increased in crypto markets. Based on this, we present evidence that the FED's communication mechanism with the markets can potentially affect both short- and long-term expectations. In this context, we can say that our hypothesis that uncertainty about the news causes short-term risks to increase has been confirmed. Our findings may have investment policy implications for portfolio managers and investors generally in terms of reducing financial risks.

Originality/value

Our paper contributes to the literature by examining the interconnectedness among major cryptocurrencies and the drivers behind them, particularly focusing on the role of news-based economic uncertainties. More broadly, we calculate the utilization of advanced methodologies and the incorporation of real-time economic uncertainty data to enhance the originality and value of the research, which provides insights into the dynamics of cryptocurrency markets.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

Open Access
Article
Publication date: 10 September 2024

Tom De Clerck, Nele Van Doren and Thomas De Bock

This study aims to address the challenge many organizational leaders face in fostering workforce cohesion. Focusing on the context of sports club volunteering, this study…

Abstract

Purpose

This study aims to address the challenge many organizational leaders face in fostering workforce cohesion. Focusing on the context of sports club volunteering, this study investigates how leaders can enhance group cohesion among volunteers. The study findings provide valuable insights applicable across various work settings.

Design/methodology/approach

Through a multilevel design, this study examined the role of autonomy–supportive and structuring leadership in shaping social and task cohesion within volunteer teams at the group level. In total, 557 volunteers nested within 52 nonprofit sports clubs situated in the Flemish region of Belgium were involved in this study, providing a robust foundation for our analysis.

Findings

This research revealed that regular volunteers form “true groups”, exhibiting substantial between-group variance in social and task cohesion and a strong within-group consensus. Additionally, the findings underscored the significance of autonomy–supportive leadership in fostering cohesion, demonstrating a positive relation with social and task cohesion at the group level.

Originality/value

This study demonstrates that volunteer teams, like work teams in the for-profit sector, actively engage in interpersonal exchanges within their organization, which help shape their collective sense of unity and alignment with common objectives. Leaders can enhance these interactions by fostering an autonomy–supportive environment where members feel empowered to share their perspectives and ideas. Additionally, the findings suggest that the nature of the task and the specific context can influence which leadership style is most effective, with the provision of structure also playing a role. With these insights, leaders in diverse organizational settings can effectively nurture the development of cohesive groups.

Details

Organization Management Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2753-8567

Keywords

Article
Publication date: 19 August 2024

May Chiun Lo, Abang Azlan Mohamad, Wan Hashim Wan Ibrahim and Jun Zhou Thong

This study aims to investigate how over-the-top (OTT) media services affect consumers’ demands for value, convenience, visual experience and their ability to advance media…

Abstract

Purpose

This study aims to investigate how over-the-top (OTT) media services affect consumers’ demands for value, convenience, visual experience and their ability to advance media communications. This study also examines the constructs that impact viewers’ satisfaction and subsequently lead to continuance usage intention of OTT platforms. Using the stimulus-organism-response (SOR) model as the theoretical basis, the present study constructs include content quality, accessibility, entertainment, hedonic value, attitude, satisfaction and continuance usage intention of OTT platforms.

Design/methodology/approach

The responses were collected from 1,280 OTT platform users in Malaysia through online questionnaires. This study aimed to examine the perceptions of OTT viewers towards their satisfaction and continuance usage intention of the respective platforms. The study used a quantitative approach, and the relationships among the study constructs were assessed using partial least squares – structural equation modelling.

Findings

The present study found that the content quality and accessibility were significant in determining OTT viewers’ perceived hedonic value and attitude, which subsequently led to their satisfaction and continuance usage intention of OTT platforms. Additionally, it was identified that satisfaction had a substantial influence on viewers’ continuance usage intention of OTT platforms.

Originality/value

This study uses the SOR model to determine the relationships among OTT platform characteristics, hedonic value, attitude, satisfaction and continuance intention.

Details

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

Keywords

Open Access
Article
Publication date: 21 June 2024

Sirui Han, Haitian Lu and Hao Wu

Our analysis is targeted at researchers in the fields of economics and finance, and we place emphasis on the incremental contributions of each paper, key research questions, study…

Abstract

Purpose

Our analysis is targeted at researchers in the fields of economics and finance, and we place emphasis on the incremental contributions of each paper, key research questions, study methodology, main conclusions and data and identification tactics. By focusing on these critical areas, our review seeks to provide valuable insights and guidance for future research in this rapidly evolving and complex field.

Design/methodology/approach

This paper conducts a structured literature review (SLR) of Bitcoin-related articles published in the leading finance, economics and accounting journals between 2018 and 2023. Following Massaro et al. (2016), SLR is a method for examining a corpus of scholarly work to generate new ideas, critical reflections and future research agendas. The goals of SLR are congruent with the three outcomes of critical management research identified by Alvesson and Deetz (2000): insight, critique and transformative redefinition.

Findings

The present state of research on Bitcoin lacks coherence and interconnectedness, leading to a limited understanding of the underlying mechanisms. However, certain areas of research have emerged as significant topics for further exploration. These include the decentralized payment system, equilibrium price, market microstructure, trading patterns and regulation of Bitcoin. In this context, this review serves as a valuable starting point for researchers who are unacquainted with the interdisciplinary field of bitcoin and blockchain research. It is essential to recognize the potential value of research in Bitcoin-related fields in advancing knowledge of the interaction between finance, economics, law and technology. Therefore, future research in this area should focus on adopting innovative and interdisciplinary methods to enhance our comprehension of these intricate and evolving technologies.

Originality/value

Our review encompasses the latest research on Bitcoin, including its market microstructure, trading behavior, price patterns and portfolio analysis. It explores Bitcoin's market microstructure, liquidity, derivative markets, price discovery and market efficiency. Studies have also focused on trading behavior, investors' characteristics, market sentiment and price volatility. Furthermore, empirical studies demonstrate the advantages of including Bitcoin in a portfolio. These findings enhance our understanding of Bitcoin's potential impact on the financial industry.

Details

China Accounting and Finance Review, vol. 26 no. 4
Type: Research Article
ISSN: 1029-807X

Keywords

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