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This study investigates the effect of unproven energy reserve news on the volatility of energy firms' stocks. Thus, investors' perception of unproven energy reserves is revealed. Additionally, the study aims to determine whether the effect of the news changes according to time and volatility level.

The general autoregressive conditional heteroskedasticity (GARCH) and exponential generalized autoregressive conditional heteroskedasticity (EGARCH) models consist of the energy reserve exploration news in Turkey for the period 2009–2022 and the volatility of 14 energy stocks.

The results indicate energy exploration news's negative and significant effect on volatility. According to empirical results, energy stock volatility is most affected in the first ten days. Besides, the results show that the significant models of energy reserve news in low-volatility stocks are proportionally higher than in high-volatility stocks.

Only unproved reserve news is included in the analysis, as sufficient confirmed reserves could not be reached during the sampling period. Further studies can compare proven and unproved reserve news effects. Additionally, a similar analysis can be conducted between Turkey and another country with a similar socio-economic character to examine different investor behaviors.

This research includes indications on managing investors' reactions to unproven energy reserve news.

This study contributes to the literature by analyzing unproven reserves. Contrary to previous studies, examining stock volatility also makes the study unique.

This paper aims to examine whether China's grain price support policy has distorted the grain market price.

The time-varying differences-in-differences (DID) model is used to study the impact of support policies on grain prices, and it is combined with the event study method to explore the dynamic effects of price support policy. Panel data model is used to study the effect of the price support policy on price formation for national grain market prices. In addition, we apply the smooth transformation (STR) model to verify whether there is a distortion in the transmission of grain prices among different markets in China and from the international market to China’s market.

China’s grain price support policy plays a significant role in rising grain market prices, weakens the decisive role of the market mechanism in the formation of grain prices, hinders the spatial transmission of market price signals and decreases the effect of price transmission from the world market to China’s market.

In order to ensure both the stability of grain production as well as the market stability, and also to ensure that intervention policies do not distort the food market, the minimum purchase price of grain and market regulation policies should be adjusted as follows: (1) price support policy should be shifted to an income support policy and (2) reasonably determine the scale of reserves and implement a grain minimum purchase price policy in limited areas.

Our findings are relevant for understanding the effect of China's grain price support policies on the implementation regions and the price transmission effect, which provide reference experience for developing countries to implement food price policies.

Valuers should independently assess market value. The purpose of this article is to analyze whether the valuation behavior remains independent when commissioned by publicly listed companies in Taiwan.

This study used both quantitative and qualitative methods. Quantitative data analysis was used to examine the estimated premium ratio and estimated divergent ratio with the independent sample t test and Wilcoxon-Mann-Whitney test. To complement and validate the quantitative analysis, open-ended questionnaires were conducted, providing additional insights into the research findings.

The results showed that there is a significant difference in estimated valuations commissioned by representatives of buyers and sellers, and the estimated premium ratios commissioned by representatives of buyers were higher than those of sellers. Furthermore, the open-ended questionnaires results indicate that these findings may be influenced by clients for less experienced appraisers. However, for senior appraisers, this is seen as an action to gain a better understanding of the valuation purpose and always within a reasonable price range. In addition, client influence is not a static factor; it may transform into the valuer's behavior as the appraiser's experience grows and deepens.

It is difficult to obtain valuation reports commissioned by representatives of both buyers and sellers for the same property transactions. In this study, data were obtained from the Market Observation Post-System (MOPS) in Taiwan. As valuation reports could not be obtained, estimated valuations and transaction prices are used to calculate estimated premium ratio and estimated divergent ratios.

Previous investigations of the client effect have been conducted using qualitative methods including questionnaire surveys, in-depth interviews and experimental design. However, these studies are subject to moral hazard. This study may be the first study that has access to data on valuations for both buyers and sellers in such a formal setting.

This paper aims to clarify the impact of information asymmetry on users' payment rates and examine the role of perceived uncertainty (PU) and acceptable price (AP) in the relationship between information asymmetry and users' payment rates.

To test the influences of information asymmetry on users' payment rates, this paper collects 18,489 transaction data from the Chinese knowledge payment platform Zhihu with a Python crawler. This paper constructs a mediation model to define the relationship between information asymmetry and users' payment rates by introducing PU and AP as the mediators.

Information asymmetry negatively affects users' payment rates. In addition, PU and AP mediate the information asymmetry in users' payment rates bond.

This study only explores the mediators of the information asymmetry users’ payment rates bond, ignoring the effect of potential moderators, which would be an important direction for future research.

The findings of this paper suggest that information communication is essential in knowledge market transactions. Knowledge providers, as well as knowledge platforms, should enhance information exchange with consumers in order to increase product sales.

This paper provides a new perspective for understanding how information asymmetry affects users' payment rates and helps to guide suppliers to improve product quality. The research framework of this paper is universal to a certain extent.

This paper is one of the first to propose using PU and AP to construct a mediation model to study the information asymmetry between users' payment rates relationship. It provides a new perspective for understanding the channel of information asymmetry in customer behavior.

This study aims to identify the economic impact of a potential implementation of a Climatic Reserve for the Swiss predominant white grape variety (Chasselas) vinified in the AOC (controlled designation of origin) category. The Climatic Reserve would imply the possibility of harvesting an additional quantity of grapes whose commercialization in wine would be delayed until it is approved by the relevant authority.

The impact of a potential implementation of this wine supply management tool is simulated through an innovative method that combines the vector autoregressive (VAR) model to estimate the influence of the previous consumptions and productions on the current consumption and linear regression [ordinary least square (OLS) method] to estimate the price elasticity to measure the evolution of the price depending on the simulated consumption. The VAR model is based on state-level data about production, stocks, and consumption (all the channels of distribution combined), while the OLS regression for estimating price elasticity uses the retail market data (Nielsen Panel). With the sales and price variables on a monthly frequency design, the latter represents about 40% of the wine market in Switzerland.

According to simulations carried out at the level of a region from the canton of Vaud in Switzerland (2000–2018), the increase in turnover linked to the release of the Climatic Reserve would be +3.1% for the indigenous white grape variety Chasselas.

The Climatic Reserve is a wine supply management tool that could complement the existing yield restriction, which does not significantly influence the quantities sold, according to previous studies. Our paper contributes to the literature by demonstrating the economic advantage of this supply management tool to deal with the increasingly frequent climatic hazards in wine production and market. The methodology could be applied to other wine regions (contexts) or other agricultural sectors.

This paper aims to examine the effect of volatility in prices of internationally traded commodities (the backbone of most economies) on the stability of the banking industry from three main perspectives; bank liquidity reserves, overall bank risk and bank capital adequacy.

Data were compiled from various sources for 30 emerging economies from 2002 to 2018 and were analyzed using the two-step system generalized method of moments estimation technique.

The study finds that all things being equal, the magnitude and direction of impact of commodity price volatility on bank stability among economies in Sub-Saharan African (SSA) depend on the type and nature of the commodity in question; and the bank stability proxy used. For instance, an increase in crude oil prices is found to foster stability in the banking industry (proxied by bank liquid reserves) but insignificant when stability in the banking industry is proxied using other banking sector parameters. Additionally, government effectiveness and corruption control have varying moderating influences on how volatility associated with prices of internationally traded commodities influence various proxies for banking industry stability.

This study highlights the effect of fluctuations in prices of key internationally traded commodities (adjusted for foreign exchange impact) that are important sources of revenue among economies in SSA on banking sector stability from liquidity, overall risk and capital adequacy perspectives. The influential role of governance in the relationship between volatility in the price of commodities and bank stability is also revealed by the study.

This paper examines the relationship between sovereign credit default swaps (CDS) and several macroeconomic factors in an asymmetric setting and distinguishes between short-run and long-run impacts. Country-specific factors (e.g. equity index, international reserves, interest rate and industrial production) and global factors (e.g. US stock volatility [VIX], geopolitical risk and oil price) are the main explanatory variables.

This analysis uses a nonlinear autoregressive distributed lag approach that enables us to study both long-run and short-run dynamics.

This study results show that two country-specific factors (equity index and international reserves) and two global factors (VIX and oil price) are the most important factors and affect CDS asymmetrically.

The asymmetric relationships between sovereign CDS and variables in bull and bear markets can also be studied. Consideration of asymmetries in the variance could also be a fruitful step taken for further research.

The findings imply that investors and portfolio managers should design their investment and hedging decisions related to government bonds by taking into account the existence of an asymmetric relationship.

Moreover, policymakers can benefit from this asymmetric information in the timing of debt issuance.

This paper examines the relationship between sovereign CDS and several macroeconomic factors in an asymmetric setting and distinguishes between short-run and long-run impacts.

This study aims to solve optimal pricing and power bidding strategy problem for integrated combined heat and power (CHP) system by using a modified heuristic optimization algorithm.

In electricity markets, generation companies compete according to their bidding parameters; therefore, optimal pricing and bidding strategy are solved. Recently, CHP units are significantly operated by generation companies to meet power and heat, simultaneously.

For validation, it is shown that profit is improved by 0.04%–48.02% for single and 0.02%–31.30% for double-sided auctions. As heat price curve is extracted, the simulation results show that when CHP system is integrated with other units results in profit increase and emission decrease by 3.04%–3.18% and 2.23%–4.13%, respectively. Also, CHP units significantly affect bidding parameters.

The novelties are pricing and bidding strategy of integrated CHP system is solved; local heat selling is considered in pricing and bidding strategy problem and heat price curve is extracted; the effects of CHP utilization on bidding parameters are investigated; a modified heuristic and deterministic optimization algorithm is presented.

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain and; second, to suggest how monetary policy tools in Turkey can be used in other countries.

This study follows a qualitative research method based on literature review, comparison, evaluation and design.

The policy rate cannot be used due to Shariah concerns. The reserve requirement depends on qard, and the reserves should be kept separately in the central bank. In terms of ijarah sukuk, Shariah concerns should be taken into account and a new structure, as displayed in Figure 3, should be followed. Government investment certificates can be used as an interest-free monetary policy tool. A genuine mudarabah interbank investments can also be used. Wadiah acceptance with no habitual gift can be used as well, and Tawarruq and central bank notes are not preferable due to Shariah concerns as well. Having said that, a Turkey-based tawarruq platform can be structured for others to use instead of applying to London.

This paper’s unique suggestion is to develop an interbank taqaruz market and a taqaruz method with the central bank. It is also unique for Turkey in the subject.

This study aims to investigate the effect of monetary policy on housing prices for US economy. It specifically examines whether nominal or real interest rates are the key drivers behind fluctuations in housing prices in US.

Monthly data from January 1991 to July 2023 and various appropriate analytical tools such as unit root tests, Johansen’s cointegration test, vector error correction model (VECM), impulse response function and Granger causality test were applied for the data analysis.

The Johansen cointegration findings reveal the presence of a long-term relationship among the variables. VECM results indicate a negative correlation between nominal and real interest rates and housing prices in both the short and long terms, suggesting that a strict monetary policy can help in controlling the housing price increase in the USA. However, housing prices are more responsive to changes in nominal interest rates than to real interest rates. Additionally, the study reveals that the COVID-19 pandemic contributed to the upsurge in housing prices in the USA.

This study contributes by examining the role that nominal or real interest rates play in shaping housing prices in the USA. Moreover, given the recent significant upsurge in housing prices, this study presents a unique opportunity to investigate whether these price increases are influenced by the Federal Reserve's monetary policy decisions regarding nominal or real interest rates. Additionally, using monthly data, this study provides a deeper understanding of the fluctuations in housing prices and their connection to monetary policy tools.