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1 – 4 of 4The purpose of this research is to investigate the short-term capital markets' reactions to the public announcement first local detection of novel corona virus (COVID 19) cases in…
Abstract
Purpose
The purpose of this research is to investigate the short-term capital markets' reactions to the public announcement first local detection of novel corona virus (COVID 19) cases in 12 major Asian capital markets.
Design/methodology/approach
Using the constant mean return model and the market model, an event study methodology has been implied to determine the cumulative abnormal returns (CARs) of 10 pre and post-event trading days. The statistical significance of the data was assessed using both parametric and nonparametric test statistics.
Findings
First discovery of local COVID 19 cases had a substantial impact on all 12 Asian markets on the event day, as shown by statistically significant negative average abnormal return (AAR) and cumulative average abnormal return (CAAR). The single factor ANOVA result has also demonstrated that there is no variability among 12 regional markets in terms of short-term market responses. Furthermore, there is little evidence that these major Asian stock market indices differ significantly from the FTSE All-World Index which might suggest possible spillover impact and co-integration among the major Asian capital markets. The study further discovers that market capitalization and liquidity did not have any significant impact on market reaction to announcement.
Research limitations/implications
The study's contribution might have been compromised by the absence of socio-demographic, technical, financial and other significant policy factors from the analysis.
Practical implications
These findings will be considerably helpful in tackling this unprecedented epidemic issue for personal and institutional investors, industrial and economic experts, government and policymakers in assessing the market in special circumstances, diversifying risk and developing financial and monetary policy proposals.
Originality/value
This paper is the first to examine the effects of local COVID 19 detection announcement on major Asian capital markets. This study will add to the literature by investigating unusual market returns generated by infectious illness outbreaks and the overall market efficiency and investors' behavioral pattern of major Asian capital markets.
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J.I. Ramos and Carmen María García López
The purpose of this paper is to analyze numerically the blowup in finite time of the solutions to a one-dimensional, bidirectional, nonlinear wave model equation for the…
Abstract
Purpose
The purpose of this paper is to analyze numerically the blowup in finite time of the solutions to a one-dimensional, bidirectional, nonlinear wave model equation for the propagation of small-amplitude waves in shallow water, as a function of the relaxation time, linear and nonlinear drift, power of the nonlinear advection flux, viscosity coefficient, viscous attenuation, and amplitude, smoothness and width of three types of initial conditions.
Design/methodology/approach
An implicit, first-order accurate in time, finite difference method valid for semipositive relaxation times has been used to solve the equation in a truncated domain for three different initial conditions, a first-order time derivative initially equal to zero and several constant wave speeds.
Findings
The numerical experiments show a very rapid transient from the initial conditions to the formation of a leading propagating wave, whose duration depends strongly on the shape, amplitude and width of the initial data as well as on the coefficients of the bidirectional equation. The blowup times for the triangular conditions have been found to be larger than those for the Gaussian ones, and the latter are larger than those for rectangular conditions, thus indicating that the blowup time decreases as the smoothness of the initial conditions decreases. The blowup time has also been found to decrease as the relaxation time, degree of nonlinearity, linear drift coefficient and amplitude of the initial conditions are increased, and as the width of the initial condition is decreased, but it increases as the viscosity coefficient is increased. No blowup has been observed for relaxation times smaller than one-hundredth, viscosity coefficients larger than ten-thousandths, quadratic and cubic nonlinearities, and initial Gaussian, triangular and rectangular conditions of unity amplitude.
Originality/value
The blowup of a one-dimensional, bidirectional equation that is a model for the propagation of waves in shallow water, longitudinal displacement in homogeneous viscoelastic bars, nerve conduction, nonlinear acoustics and heat transfer in very small devices and/or at very high transfer rates has been determined numerically as a function of the linear and nonlinear drift coefficients, power of the nonlinear drift, viscosity coefficient, viscous attenuation, and amplitude, smoothness and width of the initial conditions for nonzero relaxation times.
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Reza Ashari Nasution, So Won Jeong, Byoungho Ellie Jin, Jae-Eun Chung, Heesoon Yang, Robert Jeyakumar Nathan and Devi Arnita
The purpose of this study is to explore the acculturation caused by the Korean wave among Indonesian Muslim consumers, especially in the food and cosmetic sectors, based on…
Abstract
Purpose
The purpose of this study is to explore the acculturation caused by the Korean wave among Indonesian Muslim consumers, especially in the food and cosmetic sectors, based on religious grounds.
Design/methodology/approach
Data were collected through focus group interviews with 20 Muslim respondents in Indonesia.
Findings
The findings specifically highlighted that Muslim consumers’ acceptance of Korean products varied. Muslim consumers’ acceptance was influenced by similarities and differences in values between Islamic and Korean cultures. Consumers categorised into each acculturation mode (assimilation, separation, integration and marginalisation) showed different behavioural patterns in Korean product acceptance. This study proposes that global products can be optimised through specific and targeted marketing campaigns for different types of Muslim consumers with products that comply with their religious values.
Originality/value
Few studies have explored the importance of religious values (e.g. righteousness, compassion and respect for others) with respect to the acceptance of foreign products in the acculturation context. Additionally, how values from other cultures reconcile with the Indonesian Muslims’ affinity for Korean culture has been limitedly studied. This study aims to fill these gaps by identifying the role of religious factors in the acceptance of global products by taking the example of Indonesian Muslim consumers and Korean products.
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Yuan Li, Yanzhi Xia, Min Li, Jinchi Liu, Miao Yu and Yutian Li
In this paper the aim is that Aramid/alginate blended nonwoven fabrics were prepared, and the flame retardancy of the blended nonwoven fabrics was studied by thermogravimetric…
Abstract
Purpose
In this paper the aim is that Aramid/alginate blended nonwoven fabrics were prepared, and the flame retardancy of the blended nonwoven fabrics was studied by thermogravimetric analysis, vertical flame test, limiting oxygen index (LOI) and cone calorimeter test.
Design/methodology/approach
The advantages of different fibers can be combined by blending, and the defects may be remedied. The study investigates whether incorporating alginate fibers into aramid fibers can enhance the flame retardancy and reduce the smoke production of prepared aramid/alginate blended nonwoven fabrics.
Findings
Thermogravimetric analysis indicated that alginate fibers could effectively inhibit the combustion performance of aramid fibers at a higher temperature zone, leaving more residual chars for heat isolation. And vertical flame test, LOI and cone calorimeter test testified that the incorporation of alginate fibers improved the flame retardancy and fire behaviors. When the ratio of alginate fibers for aramid/alginate blended nonwoven fabrics reached 80%, the incorporation of alginate fibers could notably decreased peak-heat release rate (54%), total heat release (THR) (29%), peak-smoke production rate (93%) and total smoke production (86%). What is more, the lower smoke production rate and lower THR of the blends vastly reduced the risk of secondary injury in fires.
Originality/value
This study proposes to inhibit the flue gas release of aramid fiber and enhance the flame retardant by mixing with alginate fiber, and proposes that alginate fiber can be used as a biological smoke inhibitor, as well as a flame retardant for aramid fiber.
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