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Open Access
Article
Publication date: 1 November 2023

Thu Le Can, Minh Duy Le and Ko-Chia Yu

By extending Edmans et al.’s (2021) music sentiment measures to the Vietnam market, the authors aim to investigate the impacts of music sentiment on stock market returns and…

Abstract

Purpose

By extending Edmans et al.’s (2021) music sentiment measures to the Vietnam market, the authors aim to investigate the impacts of music sentiment on stock market returns and volatility.

Design/methodology/approach

The authors adopted Edmans et al.’s (2021) music-based sentiment to proxy for investor mood. The current study uses linear regression analysis.

Findings

The authors find that music sentiment is significantly and positively related to both stock returns and stock market volatility. The authors also show that music sentiment has a contagious effect: Global music sentiment and those in the United States, France and Hong Kong are significant drivers of the Vietnamese stock market. The authors also examine the effect on different industry returns and find that returns on stocks of firms in the communication services, consumer discretionary, consumer staples, energy, financials, healthcare, real-estate, information technology and utility sectors are significantly related to music sentiment. In addition to valence, the authors find that other Spotify audio features can be used to quantify music sentiment.

Originality/value

This study contributes to the behavioral finance literature that focuses on investor sentiment. The authors address this topic in Vietnam using high-frequency data.

Details

Journal of Asian Business and Economic Studies, vol. 31 no. 1
Type: Research Article
ISSN: 2515-964X

Keywords

Open Access
Article
Publication date: 6 April 2023

Ola Al Sayed, Noha Sami Omar and Abdelmoneam Khaled

This paper aims to discuss the main characteristics of the Middle East North Africa (MENA) region's capital inflows volatility. It also examines the effect of institutional…

Abstract

Purpose

This paper aims to discuss the main characteristics of the Middle East North Africa (MENA) region's capital inflows volatility. It also examines the effect of institutional quality and information availability on capital inflows volatility in selected MENA countries (Bahrain, Egypt, Israel, Jordan, Kuwait, Libya, Morocco, Oman, Saudi Arabia and Tunisia) in the period 1996–2017.

Design/methodology/approach

The study's assessments are based on the International Country Risk Guide (ICRG) and globalization indices. It also employs an updated data set of balance of payments indicators released by the International Monetary Fund. Moreover, the study uses econometric panel modeling of random effect model, with Driscoll-Kraay robust standard error, to analyze the relationship between capital inflows volatility, institutional quality and information availability.

Findings

The paper finds that both institutional quality and information availability are in an inverse relationship with the total capital inflows volatility in the MENA region. However, the findings vary across the different components of total capital inflows. For example, the volatility of foreign direct investment (FDI) declines, like total capital flows, as the two factors improve. However, the volatility of foreign portfolio investment (FPI) is negatively related to institutional quality but does not have any significant relationship with information availability. While the volatility of foreign other investments (FOI) decreases with the availability of information, but does not have any significant relationship with institutional quality.

Originality/value

This paper expands the limited literature regarding the determinants of capital inflows volatility. Furthermore, it is the first study that investigates the effect of institutional quality and information availability on capital inflows volatility in the MENA region.

Details

Review of Economics and Political Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2356-9980

Keywords

Open Access
Article
Publication date: 5 October 2022

Maria Daniela Giammanco, Lara Gitto and Ferdinando Ofria

Non-performing loans (NPLs) may determine an overall weakness of the banking system within a country. The purpose of the present study is to analyze the impact of government…

1619

Abstract

Purpose

Non-performing loans (NPLs) may determine an overall weakness of the banking system within a country. The purpose of the present study is to analyze the impact of government failures on NPLs in Asian countries in the time span 2000–2020. The variables employed as proxies of government failures are public debt as % of gross domestic product (GDP) and a government ineffectiveness index proposed by the World Bank.

Design/methodology/approach

The econometric approach employed is a panel generalised time series (GLS) model with heteroskedasticity and autocorrelation specific to each panel.

Findings

The results confirm that public debt as % of GDP and governmental ineffectiveness impacted significantly on NPLs for Asian countries in the observed period.

Originality/value

The literature offers similar results only for some individual Asian countries, while a wider analysis is lacking for Asian macroareas. The present paper considers 31 Asian countries, and supports the idea that a healthy financial sector is correlated to institutional quality and political regime. Hence, policy makers are advised to monitor governance indicators to reduce NPLs.

Details

Journal of Economic Studies, vol. 50 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Open Access
Article
Publication date: 24 July 2023

Taís Pasquotto Andreoli and Bárbara Assis Vieira

The study aims to analyze consumer reaction to counterintuitive communication linked to the LGBTQIAP+ cause.

Abstract

Purpose

The study aims to analyze consumer reaction to counterintuitive communication linked to the LGBTQIAP+ cause.

Design/methodology/approach

The theoretical framework focused on marketing communication, counterintuitive communication and the insertion of the LGBTQIAP+ issue in them. A hypothetical-deductive approach was adopted, carried out through an online experiment with a factorial design 2 (high involvement product − wedding ring × low involvement − perfume) × 2 (homosexual couple − counterintuitive × heterosexual − intuitive), with two subsequent steps: eye tracker collection (n = 21) and questionnaire application (n = 136).

Findings

It was possible to attest to the differences between traditional (intuitive) and counterintuitive marketing communications, identified both in terms of visualizations and fixations (eye tracking), and objective responses (online questionnaire), finding more positive consumer behavior in the case of counterintuitive communication with insertion of the LGBTQIAP+ cause.

Research limitations/implications

Marketing communication has great potential to create “new/other” values and worldviews, thus having an important role in social responsibility that goes beyond the marketing sphere. Precisely in this context, the study contributes to endorse the literature concerning counterintuitive communication, reinforcing the increasing importance and favorable scenario for its practice, as well as highlighting its importance as an efficient marketing strategy.

Originality/value

The study extends the understanding of counterintuitive communication with the scope of an investigation linked to the LGBTQIAP+ cause, especially from the perspective of the receiving public, the consumers. Furthermore, it advances in the sense of aggregating empirical evidence by means of both exploratory (with neuroscientific technique as eye tracking) and explanatory factors.

Details

Revista de Gestão, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1809-2276

Keywords

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