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Open Access
Article
Publication date: 1 February 2022

Khumbulani L. Masuku and Thabo J. Gopane

The study considers time-varying risk premium in investigating the capability of technical analysis (TA) to predict and outperform a buy–hold strategy in Bitcoin exchange rate…

1684

Abstract

Purpose

The study considers time-varying risk premium in investigating the capability of technical analysis (TA) to predict and outperform a buy–hold strategy in Bitcoin exchange rate returns.

Design/methodology/approach

The study tests the technical trading rule of fixed moving average (FMA) on daily actual and equilibrium returns of Bitcoin exchange rates. The equilibrium returns are computed using dynamic CAPM in conjunction with a VAR-MGARCH (1, 1) system. The empirical evaluation of the study uses a case study of four Bitcoin exchange rates (BTC/AUD, BTC/EUR, BTC/JPY and BTC/ZAR) for the period 19 June 2010 to 30 October 2020.

Findings

The findings are consistent with related studies in conventional foreign exchange markets that find TA to be profitable, especially in emerging markets. Nevertheless, the consideration of risk premium has the effect of reducing the abnormal returns. Also, further robust tests reveal that Bitcoin returns possess a momentum effect which prompts further study in efficient market hypothesis research.

Practical implications

The empirical findings of this study should benefit portfolio managers and active investors on the strength of TA to predict returns in a speculative market like the Bitcoin exchange rate market.

Originality/value

The study takes cognisance that cryptocurrency trading is speculative in nature which renders it a good candidate for TA methods. While there are studies that have explored the value of TA in Bitcoin exchange rates, these studies fail to incorporate the effects of time-varying risk premiums, the strength and focus of the current paper.

Details

Journal of Capital Markets Studies, vol. 6 no. 1
Type: Research Article
ISSN: 2514-4774

Keywords

Open Access
Article
Publication date: 1 April 2022

Stephan Bales and Hans-Peter Burghof

The paper examines the impact of COVID-19 on bank stock returns over various time scales and frequencies for 36 countries. Moreover, the authors look at the governments' responses…

1062

Abstract

Purpose

The paper examines the impact of COVID-19 on bank stock returns over various time scales and frequencies for 36 countries. Moreover, the authors look at the governments' responses to the corona crisis and examine its impact on bank stock returns.

Design/methodology/approach

The paper applies continuous wavelet transformation to obtain robust estimates of the co-movement (coherency) between confirmed cases and bank stock returns over time and at different time scales. Furthermore, the authors apply fixed effects panel regression to examine the response of bank stocks to domestic COVID-19 policies.

Findings

The results indicate that the number of confirmed COVID-19 cases negatively impacts bank stock returns during different waves of the pandemic in the medium-run. However, there is only little dependence in the very short-run. Moreover, bank stock returns positively react to domestic COVID-19 polices. This demonstrates that governmental interventions not only reduce the spread of COVID-19 but are also able to thereby calm financial markets.

Originality/value

The application of wavelet methods to the field of economics and finance is relatively recent and allows the distinction between short-term and long-term effects. Standard econometric methods, in contrast, only operate within the time domain. This paper combines wavelet methods with conventional econometrics to answer the research question.

Details

Fulbright Review of Economics and Policy, vol. 2 no. 1
Type: Research Article
ISSN: 2635-0173

Keywords

Open Access
Article
Publication date: 4 May 2023

Md. Bokhtiar Hasan, Md Mamunur Rashid, Md. Naiem Hossain, Mir Mahmudur Rahman and Md. Ruhul Amin

This research explores the spillovers and portfolio implications for green bonds and environmental, social and governance (ESG) assets in the context of the rapidly expanding…

1551

Abstract

Purpose

This research explores the spillovers and portfolio implications for green bonds and environmental, social and governance (ESG) assets in the context of the rapidly expanding trend in green finance investments and the need for a green recovery in the post-COVID-19 era.

Design/methodology/approach

This study utilizes Diebold and Yilmaz’s (2014) spillover method and portfolio strategies (hedge ratio, optimal weights and hedging effectiveness) for the data starting from February 29, 2012, to March 14, 2022.

Findings

The study’s findings reveal that the lower volatility spillover is evidenced between the green bonds and ESG stocks during tranquil and turbulent periods (e.g. COVID-19 and Russia-Ukraine War). Furthermore, hedging costs are lower both in normal times and during economic slumps. Investing the bulk of the funds in green bonds makes it possible to achieve maximum hedging effectiveness between the S&P green bond (GB) and the S&P 500 ESG.

Practical implications

Both investors and policymakers may use these findings to make wise investment and policy choices to achieve post-COVID environmental sustainability.

Originality/value

Unlike previous research, this is the first to explore the interconnectedness among the major global and country-specific green bonds and ESG assets. The major findings of this study about the lower volatility spillovers and hedging costs between green bonds and ESG assets during the tranquil and turbulent periods may contribute to the post-COVID investment portfolio for environmental sustainability.

Details

Fulbright Review of Economics and Policy, vol. 3 no. 1
Type: Research Article
ISSN: 2635-0173

Keywords

Open Access
Article
Publication date: 2 July 2021

Hashem Alshurafat, Mohannad Obeid Al Shbail and Ebrahim Mansour

This review aims to provide an understanding of the strengths and weaknesses of forensic accounting education and profession.

17506

Abstract

Purpose

This review aims to provide an understanding of the strengths and weaknesses of forensic accounting education and profession.

Design/methodology/approach

This paper reviews published forensic accounting studies to explore forensic accounting strengths and weaknesses.

Findings

The strengths of forensic accounting are its benefits to students and accounting professionals, the significant need and increasing demand, the new career channels and the reduction of fraud. The weakness factors are the lack of regulation, the lack of control over the profession entry, the lack of agreement on how to teach forensic accounting, the lack of specialized research journals, the misconception of its intrinsic aim, the lack of highly qualified practitioners and educators and the lack of public recognition and occupation reputation.

Practical implications

It is hoped that this structured investigation of the factors relevant to the current and future status of forensic accounting education and profession will provide a sufficient overview of the critical issues and concerns that are important to be known for understanding and advancing the vital application of forensic accounting on the Socio-Economic Development. It is anticipated that this paper has an impact on future policy that ultimately contributes to improving business and limit fraud incidents, thus, it can contribute to business and socio-economic development.

Originality/value

The literature on forensic accounting is extensive and varied. However, there is a lack of comprehensive understanding of the strengths and weaknesses of forensic accounting. This study provided policymakers with a comprehensive understanding of forensic accounting.

Details

Journal of Business and Socio-economic Development, vol. 1 no. 2
Type: Research Article
ISSN: 2635-1374

Keywords

Open Access
Article
Publication date: 30 June 2021

Ramazan Erturgut and Hasan Emin Gürler

Human resources can differentiate firms from their competitors or directly affect the success or failure of firms. As in many sectors, there is a need for qualified employees in…

Abstract

Human resources can differentiate firms from their competitors or directly affect the success or failure of firms. As in many sectors, there is a need for qualified employees in the logistics sector, which is of great importance for the national economies. Qualified employees in this sector contribute to the success of the companies and the development of the industry. In this study, it is aimed to reveal the qualifications and characteristics of the labour force needed by logistics companies. It was also aimed to show the impact of COVID-19 on logistics job ads. For this purpose, a total of 1,410 job vacancy postings (before COVID-19) and a total of 1,700 job vacancy postings (during COVID-19) were searched on the kariyer.net website with the word “logistics” and analysed by content analysis method. As a result, it was found that the most advertised province was Istanbul in both periods, the most looked up experience requirement in the candidates was 1-5 years in both periods, the opportunities provided to the candidates (transportation, food and beverage, career, social activity) were not mentioned much in both periods. This study reveals the status of logistics job postings in the period before COVID-19 and during COVID-19. It was also aimed to show the impact of COVID-19 on logistics job ads. We investigated whether the logistics employee demand has changed and whether the pandemic is affecting workforce characteristics. This is the first empirical analysis of the impact of COVID-19 on logistics vacancy postings.

Details

Journal of International Logistics and Trade, vol. 19 no. 2
Type: Research Article
ISSN: 1738-2122

Keywords

Open Access
Article
Publication date: 18 June 2021

Hassanudin Mohd Thas Thaker and Abdollah Ah Mand

The volatility of bitcoin (BTC) and time horizon is the center point for investment decisions. However, attention is not often drawn to the relationship between BTC and equity…

5180

Abstract

The volatility of bitcoin (BTC) and time horizon is the center point for investment decisions. However, attention is not often drawn to the relationship between BTC and equity indices. Thus, the purpose of this paper is to investigate the volatility and time frequency domain of BTC with stock markets.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 29 no. 3
Type: Research Article
ISSN: 1229-988X

Keywords

Open Access
Article
Publication date: 25 August 2022

Ashish Kumar, Shikha Sharma, Ritu Vashistha, Vikas Srivastava, Mosab I. Tabash, Ziaul Haque Munim and Andrea Paltrinieri

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth…

3352

Abstract

Purpose

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth anniversary, and the objective of this paper is to conduct a retrospective analysis to commensurate IJoEM's milestone.

Design/methodology/approach

Data used in this study were extracted using the Scopus database. Bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of a journal. Mapping of bibliographic data is carried using VOSviewer.

Findings

Study findings indicate that IJoEM has been growing for publications and citations since its inception. Four significant research directions emerged, i.e. consumer behaviour, financial markets, financial institutions and corporate governance and strategic dimensions based on cluster analysis of IJoEM's publications. The identified future research directions are focused on emergent investments opportunities, trends in behavioural finance, emerging role technology-financial companies, changing trends in corporate governance and the rising importance of strategic management in emerging markets.

Originality/value

To the best of the authors' knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJoEM. The study presents the key themes and trends emerging from a leading journal considered a high-quality research journal for research on emerging markets by academicians, scholars and practitioners.

Details

International Journal of Emerging Markets, vol. 19 no. 4
Type: Research Article
ISSN: 1746-8809

Keywords

Open Access
Article
Publication date: 3 April 2020

El-Shaimaa Talaat Abumandour

Public libraries play a pivotal role in supporting education and literacy. They provide numerous services, activities, collections and resources for education and leisure…

13704

Abstract

Purpose

Public libraries play a pivotal role in supporting education and literacy. They provide numerous services, activities, collections and resources for education and leisure. Bibliotheca Alexandrina (BA) is an international renowned public library that provides numerous services for different users worldwide. E-learning is an emergent and promising method for teaching and learning different subjects such as the science, technology, engineering and mathematics (STEM). The e-learning educational system is quite novel in Africa and the Middle East; hence, this paper presents the whole concept to the reader. In addition, it demonstrates number of e-courses tackling different domains provided by different educational institutions, national and public libraries worldwide.

Design/methodology/approach

In 2017, the BA inaugurated its e-learning services to cope with the new educational trend and to consolidate the lifelong learning concept in the community. The author showed special interest to the case of e-learning in the BA, as it is a regional public library. The main idea of this paper is to attract attention toward public libraries as a promising venue for e-learning implementation for general knowledge, library information sciences, soft skills, elementary and informal STEM education. The paper discusses in details e-learning and its characteristics.

Findings

In addition, the paper compares traditional education (face-to-face) with e-learning education, mentions both their pros and cons and recommends blending the two educational methods as they complement each other. Furthermore, the author has selected a sample of different STEM e-courses (203 different e-courses). These e-courses were selected to assert the possibility of presenting STEM topics in the form of e-courses.

Originality/value

This study would be one of the emergent research studies that connect e-learning to both STEM disciplines and public libraries. Additionally, this research highlights the importance of public libraries and all the services they provide. In the mean time, it shed light on the important and unique role of specialized librarians. Briefly, public libraries with all their resources, services and expert librarians could provide an exceptional e-learning experience to their community and be of great help to educational institutions and organizations.

Details

Journal of Research in Innovative Teaching & Learning, vol. 14 no. 2
Type: Research Article
ISSN: 2397-7604

Keywords

Open Access
Article
Publication date: 15 August 2022

Ana Junça Silva, Patrícia Neves and António Caetano

This study draws on the affective events theory (AET) to understand how telework may influence workers' well-being. Hence this study aimed to (1) analyze the indirect relationship…

2640

Abstract

Purpose

This study draws on the affective events theory (AET) to understand how telework may influence workers' well-being. Hence this study aimed to (1) analyze the indirect relationship between telework and well-being via daily micro-events (DME), and (2) test whether procrastination would moderate this indirect effect.

Design/methodology/approach

To test the goals, data were gathered from a sample of teleworkers in the IT sector (N = 232). To analyze the data, a moderated mediation analysis was performed in SPSS with PROCESS macro.

Findings

The results showed that micro-daily events mediated the positive relationship between telework and well-being; however, this relation was conditional upon the levels of workers' levels of procrastination, that is, this link became weaker for those who were procrastinators.

Practical implications

By highlighting the importance of telework, DME and procrastination, this study offers managers distinct strategies for enhancing their employees' well-being.

Originality/value

Despite the existing research investigating the effect of telework on well-being, studies investigating the intervening mechanisms between these two constructs are scarce. Moreover, there is a lack of research investigating the moderating effect of procrastination in these relations. Hence, this study fills these gaps and advances knowledge on the process that explains how (via DME) and when (when procrastination is low) teleworking influences workers' well-being.

Details

International Journal of Manpower, vol. 45 no. 1
Type: Research Article
ISSN: 0143-7720

Keywords

Open Access
Article
Publication date: 15 June 2022

Viktorija Knapić, Borut Rusjan and Katerina Božič

Existing research evidence shows a fragmented understanding of the roles of first-line employees (FLEs) as essential factors for successful lean implementation in small- and…

2661

Abstract

Purpose

Existing research evidence shows a fragmented understanding of the roles of first-line employees (FLEs) as essential factors for successful lean implementation in small- and medium-sized enterprises (SMEs), provoking recent calls for additional research on the identification of enablers and barriers for lean acceptance among workers. Therefore, this paper aims to identify related enablers and barriers to lean implementation among FLEs and determine future research avenues for improving the understanding of lean methodology implementation in SMEs.

Design/methodology/approach

Relying on a systematic literature review methodology, the authors aimed to synthesize and evaluate available peer-reviewed papers on the role of FLEs in lean implementation in SMEs. General descriptive and thematic analysis comprehensively depicted the selected research topic and identified the main themes within collected papers and potential future research questions.

Findings

The authors identified four main themes related to FLEs’ role in lean implementation: cultural change factors, employee characteristics, management involvement and lean job design. Within each theme, the authors present a comprehensive overview of FLE-related factors and associated enablers and barriers that should be considered for a successful lean implementation in SMEs.

Practical implications

The research outcomes are important to practicing managers in SMEs, helping them facilitate lean acceptance and enhance the likelihood of successful lean implementation.

Originality/value

The insights from this study present building blocks in developing a lean implementation model for SMEs that considers the FLEs’ role more comprehensively.

Details

International Journal of Lean Six Sigma, vol. 14 no. 2
Type: Research Article
ISSN: 2040-4166

Keywords

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