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Article
Publication date: 17 May 2023

Mohamed Shaker Ahmed, Adel Alsamman and Kaouther Chebbi

This paper aims to investigate feedback trading and autocorrelation behavior in the cryptocurrency market.

Abstract

Purpose

This paper aims to investigate feedback trading and autocorrelation behavior in the cryptocurrency market.

Design/methodology/approach

It uses the GJR-GARCH model to investigate feedback trading in the cryptocurrency market.

Findings

The findings show a negative relationship between trading volume and autocorrelation in the cryptocurrency market. The GJR-GARCH model shows that only the USD Coin and Binance USD show an asymmetric effect or leverage effect. Interestingly, other cryptocurrencies such as Ethereum, Binance Coin, Ripple, Solana, Cardano and Bitcoin Cash show the opposite behavior of the leverage effect. The findings of the GJR-GARCH model also show positive feedback trading for USD Coin, Binance USD, Ripple, Solana and Bitcoin Cash and negative feedback trading for Ethereum and Cardano only.

Originality/value

This paper contributes to the literature by extending Sentana and Wadhwani (1992) to explore the presence of feedback trading in the cryptocurrency market using a sample of the most active cryptocurrencies other than Bitcoin, namely, Ethereum, USD coin, Binance Coin, Binance USD, Ripple, Cardano, Solana and Bitcoin Cash.

Details

Studies in Economics and Finance, vol. 41 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Open Access
Article
Publication date: 8 June 2021

Mohamed Shaker Ahmed

The present research aims to examine a range of momentum trading strategies for the tourism and hospitality sector.

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Abstract

Purpose

The present research aims to examine a range of momentum trading strategies for the tourism and hospitality sector.

Design/methodology/approach

The paper followed the methodology of Jegadeesh and Titman (1993) to construct the portfolios. In this methodology, all portfolios were formed and evaluated by their cumulative stock returns over the past J periods and holding the position for the next K periods. In total, nine formation and holding periods were used, represented by 3, 6 and 12. For example, strategy 3–3 (that is, strategy with J = 3 and K = 3) refers to the strategy that stocks are ranked based on their previous three months and then held for the next three months.

Findings

The findings demonstrated that none of these momentum investing strategies was profitable. Most of the results, however, show positive, but insignificant momentum returns. This finding can be interpreted as price reversal over a horizon of three to twelve months in the US hospitality and tourism sector. These results are robust to size, different formation and holding combinations, beta and turnover.

Research limitations/implications

Regarding the research limitations, this paper only considers the US tourism and hospitality sector. Therefore, the extension of results to other developed and developing markets should be taken carefully. Also, this paper relies only on the methodology of Jegadeesh and Titman (1993). Other methodologies could be suitable avenues for future research.

Practical implications

Investors and portfolio managers who seek for earning abnormal returns by investing in the US HT stocks can attain their hopes by constructing portfolios based on existing guidelines in the literature and adopting a short-term reversal trading strategy or by buying past losers and selling past winners of the US tourism and hospitality stocks.

Originality/value

This research contributes to the hospitality finance literature by offering the investors who are interested in the US hospitality and tourism sector an uncomplicated trading rule that uses real return data and is expected to generate actual returns. Moreover, the momentum strategy of Jegadeesh and Titman (1993) is never used in the hospitality finance literature.

研究目的

本研究旨在探討各種可應用於旅遊及酒店業的動量交易策略。

研究設計/方法/理念

本文按照 Jegadeesh 和 Titman(1993)的研究方法來建造投資組合。使用這研究方法時,所有投資組合均以它們在過去J 時期的累積股票收益和在未來K 時期的持倉來建立及評價的。九個組成方式及持有期被使用,以3、6、12來表示。例如,策略3-3(那就是說,該策略以J = 3和 K = 3)指的策略是以有關的股票基於過去三個月而被分等級,繼而在未來三個月被持有。

研究結果

研究結果顯示,這些投資策略全沒帶來利潤;唯大部分結果顯示正動能策略報酬,雖報酬是微不足道的。這研究結果或許可理解為在美國酒店及旅遊業為期三至十二個月的價格逆轉。這些結果就規模、不同組成方式和持有組合、beta 和成交量而言是強而有力的。

研究的局限/意義

就研究的局限而言,本文只是考慮美國的酒店及旅遊業;因此,如把研究結果伸延至其它已開發或發展中的市場,則需小心處理。另外,本文只依賴 Jegadeesh 和 Titman(1993)的研究方法,就此,使用其它研究方法會是日後相關研究的適當途徑。

實際的意義

欲透過投資於美國酒店及旅遊股票而尋求賺取異常收益的投資者和投資組合經理可如願以償,方法是基於文獻內現存的準則建造投資組合,以及採用短期的逆轉交易策略,或買入美國酒店及旅遊業過去輸家及賣出過去贏家。

研究的原創性/價值

本研究為酒店金融文獻作出貢獻,因研究為對美國酒店及旅遊業有興趣的投資者提供了使用實際收益數據及預期可創造實際回報的簡單交易規則;而且, Jegadeesh 和 Titman(1993)的動量策略從未在酒店金融文獻內被使用過。

Details

European Journal of Management and Business Economics, vol. 31 no. 3
Type: Research Article
ISSN: 2444-8451

Keywords

Open Access
Article
Publication date: 1 November 2023

Hamed Abdelreheem Ead

The purpose of the paper is to showcase the significant achievements of Egypt's scientists in the 20th century across various fields of study such as medicine, physics, chemistry…

Abstract

Purpose

The purpose of the paper is to showcase the significant achievements of Egypt's scientists in the 20th century across various fields of study such as medicine, physics, chemistry, biology, math, geology, astronomy and engineering. The paper highlights the struggles and successes of these scientists, as well as the cultural, social and political factors that influenced their lives and work. The aim is to inspire young people to pursue careers in science and make their own contributions to society by presenting these scientists as role models for hard work and dedication. Ultimately, the paper seeks to promote the importance of science and its impact on society.

Design/methodology/approach

The purpose of this review is to present the scientific biographies of Egypt's most distinguished scientists, primarily in the field of Natural Sciences, in a balanced and comprehensive manner. The work is objective, honest and abstract, avoiding any bias or exaggeration. The author provides a clear and concise methodology, including a brief introduction to the scientist and their field of study, an explanation of their major contributions, the impact of their work on society, any challenges or obstacles faced during their career and their lasting legacy. The aim is to showcase the important achievements of these scientists, their impact on their respective fields and to inspire future generations to pursue scientific careers.

Findings

The group of outstanding scientists in 20th century Egypt were shaped by various factors, including familial upbringing, education, society, political and cultural atmosphere and state support for scientific research. These scientists made significant contributions to various academic disciplines, including medicine, physics, chemistry, biology, mathematics and engineering. Their impact on their communities and cultures has received international acclaim, making them role models for future generations of scientists and researchers. The history of these scientists highlights the importance of educational investments and supporting scientific research to foster innovation and social progress. The encyclopedia serves as a useful tool for students, instructors and education professionals, preserving Egypt's scientific heritage and honouring the scientists' outstanding accomplishments.

Research limitations/implications

The encyclopedia preserves Egypt's scientific heritage, which has been overlooked for political or other reasons. It is a useful tool for a variety of readers, including students, instructors and education professionals, and it offers insights into universally relevant scientific success factors as well as scientific research methodologies. The encyclopedia honours the outstanding scientific accomplishments of Egyptian researchers and their contributions to the world's scientific community.

Practical implications

The practical implications of this paper are several. First, it highlights the importance of education, family upbringing and societal support for scientific research in fostering innovation and social progress. Second, it underscores the need for continued funding and support for scientific research to maintain and build upon the accomplishments of past generations of scientists. Third, it encourages young people to pursue scientific careers and make their own contributions to society. Fourth, it preserves the scientific heritage of Egypt and honors the contributions of its outstanding scientists. Finally, it serves as a useful tool for students, instructors and education professionals seeking to understand the factors underlying scientific success and research methodologies.

Social implications

The social implications of the paper include promoting national pride and cultural identity, raising awareness of the importance of education and scientific research in driving social progress, inspiring future generations of scientists and researchers, reducing socioeconomic disparities and emphasizing the role of society, politics and culture in shaping scientific researchers' personalities and interests.

Originality/value

The paper's originality/value lies in its comprehensive documentation of the scientific biographies of Egypt's most prominent scientists in the 20th century, providing unique insights into the factors that contributed to their development and their impact across various academic disciplines. It preserves Egypt's scientific heritage and inspires future generations of scientists and researchers through the promotion of educational investments and scientific research. The encyclopedia serves as a useful tool for education professionals seeking to understand scientific success factors and research methodologies, emphasizing the importance of supportive and inclusive environments for scientific development.

Details

Journal of Humanities and Applied Social Sciences, vol. 6 no. 2
Type: Research Article
ISSN: 2632-279X

Keywords

Article
Publication date: 19 March 2018

Shaker Bani-Melhem, Rachid Zeffane and Mohamed Albaity

This study aims to examine the impact of workplace happiness, coworker support and job stress on employee innovative behavior. The mediating effects of coworker support and job…

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Abstract

Purpose

This study aims to examine the impact of workplace happiness, coworker support and job stress on employee innovative behavior. The mediating effects of coworker support and job stress are also explored.

Design/methodology/approach

The study uses survey data from 328 employees from different departments in four- and five-star hotels in the United Arab Emirates (UAE). Based on an extensive literature review, five main hypotheses were formulated and explored. These were tested through multiple regression analysis using the SPSS Process Macro plugin.

Findings

Workplace happiness is the most significant determinant of employees’ innovative behavior, while coworker support plays a significant mediating role. Contrary to the study hypothesis and assumption, job stress alone is not a significant mediator; it only plays a mediating role when combined with coworker support.

Research limitations/implications

The sample is from a single sector (hotels) in a single country. Future research would benefit from examining the above relationships in other sectors (such as health and education) in the UAE. It could also explore the validity of these relationships in the tourism/hotels sector of other countries in the Middle East and Gulf regions.

Originality/value

Few studies have attempted to investigate factors that may promote or impede innovative behavior among employees in the hotels sector, particularly in the UAE. The data, model and findings of this study address this gap and add to the current state of knowledge.

Details

International Journal of Contemporary Hospitality Management, vol. 30 no. 3
Type: Research Article
ISSN: 0959-6119

Keywords

Content available
Article
Publication date: 1 July 2004

317

Abstract

Details

Disaster Prevention and Management: An International Journal, vol. 13 no. 3
Type: Research Article
ISSN: 0965-3562

Article
Publication date: 17 August 2018

Yasser Assem, Heba A. Mohamed, Rana Said and Ahmed El-Masry

The purpose of this paper is to prepare amphiphilic block copolymers polyethylene adipate-block-polyethylene glycol (PEA-b-PEG)s and study their performance as plasticizers in…

Abstract

Purpose

The purpose of this paper is to prepare amphiphilic block copolymers polyethylene adipate-block-polyethylene glycol (PEA-b-PEG)s and study their performance as plasticizers in rotogravure ink formulations.

Design/methodology/approach

Series of amphiphilic block copolymers (PEA-b-PEG1), (PEA-b-PEG2), (PEA-b-PEG3), (PEA-b-PEG4) and (PEA-b-PEG5) were prepared by the reaction of adipic acid, ethylene glycol and polyethylene glycol of different molecular weights (300, 1,000, 2,000, 10,000 and 20,000 g/mol), respectively. Full characterization of the prepared copolymers was achieved using Fourier Transfer Infrared Spectroscopy (FTIR), 1H NMR, thermal gravimetric analysis (TGA) and differential scanning calorimetry (DSC). The performance of the prepared copolymers as plasticizers for neat nitrocellulose resin were studied in different formulations, namely, R1, R2, R3, R4 and R5 containing copolymers (PEA-b-PEG1), (PEA-b-PEG2), (PEA-b-PEG3), (PEA-b-PEG4) and (PEA-b-PEG5), respectively. In addition to formula R0 that contains acetyl tributyl citrate (ATBC) as a commercial plasticizer. The mechanical properties, thermal analysis (DSC, TGA) and optical properties of the prepared formulations films were investigated. Theses amphiphilic block copolymers were then applied as plasticizers in different rotogravure ink formulations (F1, F2, F3, F4 and F5) and compared with commercial rotogravure ink formula (F0). The color measurements and optical properties of all formulations were achieved.

Findings

It was found that the performance of the prepared copolymers as plasticizers in different formulations based on nitro cellulose resin gives better gloss, adhesion for R1 compared with the other samples and color strength for F1 compared with F0. Finally, all the samples gave excellent plasticizing effect.

Research limitations/implications

The authors believe that type of these materials open the way for a new class of plasticizers that upon application or even degradation gives small ecofriendly molecules (adipic acid and or ethylene glycol moieties) taking into consideration the simplicity of the rout of the synthesis process.

Practical implications

The prepared ecofriendly (PEA-b-PEG)s could be successfully used as plasticizers instead of commercial plasticizer ATBC.

Originality/value

The research provides that the prepared (PEA-b-PEG)s with different molecular weights can act as plasticizers in rotogravure ink formulations, and their performance was acceptable and available.

Details

Pigment & Resin Technology, vol. 47 no. 5
Type: Research Article
ISSN: 0369-9420

Keywords

Article
Publication date: 22 September 2021

Shaker Dahan AL-Duais, Mazrah Malek, Mohamad Ali Abdul Hamid and Amal Mohammed Almasawa

This study aims to investigate the monitoring role of ownership structure (OWS) on real earnings management (REM) practices; previous studies primarily examined the effect of OWS…

Abstract

Purpose

This study aims to investigate the monitoring role of ownership structure (OWS) on real earnings management (REM) practices; previous studies primarily examined the effect of OWS on accrual-based earnings management.

Design/methodology/approach

The sample of this study is 490 companies listed on the Malaysian Stock Exchange during the period 2013–2016 (1,960 company-year observations). The regression of a feasible generalized least square was used for data analysis. The authors use three regression models ordinary least squares, panel-corrected standard errors and Driscoll–Kraay standard errors to corroborate the findings and also examine alternative REM measures.

Findings

Analysis of the data shows that family, foreign and institutional ownership has a positive link with the quality of financial reporting and, to a large extent, is capable of alleviating REM. The findings also indicate that some form of OWS significantly affects REM, corroborating existing theories on corporate governance (CG) and the perspectives of practitioners.

Practical implications

The evidence concerns the significant role played by the OWS in reducing REM activities. The findings are useful in support of regulatory activities, particularly in the design of policies to regulate the OWS. The results may also provide useful insights to inform other policymakers, investors, shareholders and researchers about the active role of family, foreign and institutional investors in monitoring Malaysia's public listed companies (PLCs) to strengthen CG practices. This also leads to less REM and enhances the quality of financial reporting.

Originality/value

To the authors' knowledge, this work is pioneering research from a developing country, specifically from Malaysia, to investigate the manner in which all possible OWSs influence REM. More importantly, the study recommends that regulators and researchers do not envisage OWS as a holistic phenomenon.

Details

Journal of Accounting in Emerging Economies, vol. 12 no. 2
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 26 February 2021

Ahmed Adel Tantawy, Sherif Elaasi and Mohamed Elshawadfy

Evidence suggests that corporate entrepreneurship (CE), namely, innovativeness, risk-taking and corporate venturing, enhances a firm’s performance. However, the study of CE in…

Abstract

Purpose

Evidence suggests that corporate entrepreneurship (CE), namely, innovativeness, risk-taking and corporate venturing, enhances a firm’s performance. However, the study of CE in developing markets – particularly in Egypt – is still new and undeveloped. The literature stresses the importance of incorporating environmental factors into the study of CE. Therefore, the purpose of this study is to examine the relationship between CE, environmental jolts (unexpected abrupt environmental events such as the Arab Spring) and the firm’s financial performance. Based on the periods before and after the series of anti-government protests known as the Arab Spring, this paper argues that after an environmental jolt, CE will negatively affect financial performance.

Design/methodology/approach

This study analyzes and correlates CE, environmental jolts and firm performance in Egypt for a period over 10 years (from 2007 through 2016) using a sample of 94 manufacturing firms listed on the Egyptian Stock Exchange. Data were manually collected through archival/secondary data using financial and accounting information from the annual reports released by the firms. These reports were downloaded from the firms’ webpages and the Egyptian Exchange website.

Findings

The main results of this paper indicate that environmental factors play a role in the effect of CE on firm performance. Using the 2011 Arab Spring as a quasi-natural experiment, this paper finds that CE’s effect on firm performance is higher pre-jolt and lower post-jolt.

Practical implications

This study provides useful implications for managers and practitioners. Firms need to find new ways of allocating their resources to help provide innovative products and to have a competitive advantage. Although innovation, risk-taking and corporate venturing may have a delayed impact on a firm’s financial performance, managers should evaluate the implications and the success of CE activities in the long-term, not from a short-term perspective.

Originality/value

Building upon the existing literature, this is the first paper to investigate the effect of CE on a firm’s financial performance in Egypt during the Arab Spring. The manufacturing firms listed on the Egyptian Exchange were analyzed in a quasi-natural experiment, taking into account the moderating role of an environmental jolt, namely, the Arab Spring.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 13 no. 5
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 15 March 2021

Samson A. Oyeyinka, Aminat O. Abdulsalam, Amina M. Ahmed El-Imam, Adewumi T. Oyeyinka, Omotola Folake Olagunju, Fausat L. Kolawole, Abimbola K. Arise, Emmanuel O. Adedeji and Patrick B. Njobeh

Bambara groundnut is a hard-to-cook grain and this has limited its utilisation to some extent. However, the grain is a good source of phytochemicals with antioxidant properties…

Abstract

Purpose

Bambara groundnut is a hard-to-cook grain and this has limited its utilisation to some extent. However, the grain is a good source of phytochemicals with antioxidant properties. This study investigated the total phenol content, antioxidant, anti-inflammatory and anti-microbial potentials of hot-water extract of four Bambara groundnuts differentiated by their seed coats (cream, black, maroon and brown).

Design/methodology/approach

Bambara grains were heated in water at a ratio 1:20 (w/v) and the grains brought to boiling in a controlled water bath. As soon as boiling started, the temperature was reduced to 90 °C to reduce the evaporation rate. The extracts were withdrawn within 30 min, which was chosen from a preliminary study where beyond this time, the extract was drying off and the amount of solution obtained was not sufficient for the initial run. Grain colour and composition and antioxidant, antimicrobial and anti-inflammatory properties of the extract were determined using standard methods.

Findings

Protein (20.57–26.31%) and carbohydrate (55.43–61.09%) were the major components of the grain. Grain type and boiling time generally affected the total phenolic content of the extract. Cream Bambara displayed substantially lower total phenolic content at all boiling times compared with the maroon, brown and black Bambara groundnuts. The total flavonoid contents and total phenolic contents of the Bambara groundnut extracts were dependent on the boiling time and type of grain. The extracts showed no activity against Candida albicans, but the maroon coat Bambara demonstrated a peak inhibition of 6.00 mm against Escherichia coli. The total phenolic, flavonoid contents and the antioxidant properties of the grains generally followed the order Maroon > Black > Brown.

Originality/value

This study has demonstrated the possibility of promoting the use of Bambara groundnut beyond the current level of usage by using simple processing method of boiling to extract phytochemicals with medicinal properties.

Details

British Food Journal, vol. 123 no. 11
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 4 October 2018

Maha Al-Yahya

In the context of information retrieval, text genre is as important as its content, and knowledge of the text genre enhances the search engine features by providing customized…

Abstract

Purpose

In the context of information retrieval, text genre is as important as its content, and knowledge of the text genre enhances the search engine features by providing customized retrieval. The purpose of this study is to explore and evaluate the use of stylometric analysis, a quantitative analysis for the linguistics features of text, to support the task of automated text genre detection for Classical Arabic text.

Design/methodology/approach

Unsupervised clustering and supervised classification were applied on the King Saud University Corpus of Classical Arabic texts (KSUCCA) using the most frequent words in the corpus (MFWs) as stylometric features. Four popular distance measures established in stylometric research are evaluated for the genre detection task.

Findings

The results of the experiments show that stylometry-based genre clustering and classification align well with human-defined genre. The evidence suggests that genre style signals exist for Classical Arabic and can be used to support the task of automated genre detection.

Originality/value

This work targets the task of genre detection in Classical Arabic text using stylometric features, an approach that has only been previously applied to Arabic authorship attribution. The study also provides a comparison of four distance measures used in stylomtreic analysis on the KSUCCA, a corpus with over 50 million words of Classical Arabic using clustering and classification.

Details

The Electronic Library, vol. 36 no. 5
Type: Research Article
ISSN: 0264-0473

Keywords

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