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Article
Publication date: 8 August 2023

Sivakumar Sundararajan and Senthil Arasu Balasubramanian

This study empirically explores the intraday price discovery mechanism and volatility transmission effect between the dual-listed Indian Nifty index futures traded simultaneously…

Abstract

Purpose

This study empirically explores the intraday price discovery mechanism and volatility transmission effect between the dual-listed Indian Nifty index futures traded simultaneously on the onshore Indian exchange, National Stock Exchange (NSE) and offshore Singapore Exchange (SGX) and its spot market by using high-frequency data.

Design/methodology/approach

This study applies the vector error correction model to analyze the lead-lag relationship in price discovery among three markets. The contributions of individual markets in assimilating new information into prices are measured using various measures, Hasbrouck's (1995) information share, Lien and Shrestha's (2009) modified information share and Gonzalo and Granger's (1995) component share. Additionally, the Granger causality test is conducted to determine the causal relationship. Lastly, the BEKK-GARCH specification is employed to analyze the volatility transmission.

Findings

This study provides robust evidence that Nifty futures lead the spot in price discovery. The offshore SGX Nifty futures consistently ranked first in contributing to price discovery, followed by onshore NSE Nifty futures and finally by the spot. Empirical results also show unidirectional causality and volatility transmission from Nifty futures to spot, as well as bidirectional causal relationship and volatility spillovers between NSE and SGX Nifty futures. These novel findings provide fresh insights into the informational efficiency of the dual-listed Indian Nifty futures, which is distinct from previous literature.

Practical implications

These findings can potentially help market participants, policymakers, stock exchanges and regulators.

Originality/value

Unlike previous studies in this area, this is the first study that empirically examines the intraday price discovery mechanism and volatility spillover between the dual-listed futures markets and its spot market using 5-min overlapping price data and trivariate econometric models.

Details

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

Keywords

Article
Publication date: 27 June 2023

Anshuman Kumar, Chandramani Upadhyay, Ram Subbiah and Dusanapudi Siva Nagaraju

This paper aims to investigate the influence of “BroncoCut-X” (copper core-ZnCu50 coating) electrode on the machining of Ti-3Al-2.5V in view of its extensive use in aerospace and…

Abstract

Purpose

This paper aims to investigate the influence of “BroncoCut-X” (copper core-ZnCu50 coating) electrode on the machining of Ti-3Al-2.5V in view of its extensive use in aerospace and medical applications. The machining parameters are selected as Spark-off Time (SToff), Spark-on Time (STon), Wire-speed (Sw), Wire-Tension (WT) and Servo-Voltage (Sv) to explore the machining outcomes. The response characteristics are measured in terms of material removal rate (MRR), average kerf width (KW) and average-surface roughness (SA).

Design/methodology/approach

Taguchi’s approach is used to design the experiment. The “AC Progress V2 high precision CNC-WEDM” is used to conduct the experiments with ϕ 0.25 mm diameter wire electrode. The machining performance characteristics are examined using main effect plots and analysis of variance. The grey-relation analysis and fuzzy interference system techniques have been developed to combine (called grey-fuzzy reasoning grade) the experimental response while Rao-Algorithm is used to calculate the optimal performance.

Findings

The hybrid optimization result is obtained as SToff = 50µs, STon = 105µs, Sw = 7 m/min, WT = 12N and Sv=20V. Additionally, the result is compared with the firefly algorithm and improved gray-wolf optimizer to check the efficacy of the intended approach. The confirmatory test has been further conducted to verify optimization results and recorded 8.14% overall machinability enhancement. Moreover, the scanning electron microscopy analysis further demonstrated effectiveness in the WEDMed surface with a maximum 4.32 µm recast layer.

Originality/value

The adopted methodology helped to attain the highest machinability level. To the best of the authors’ knowledge, this work is the first investigation within the considered parametric range and adopted optimization technique for Ti-3Al-2.5V using the wire-electro discharge machining.

Details

World Journal of Engineering, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 21 February 2024

Juliet Owusu-Boadi, Ernest Kissi, Ivy Maame Abu, Cecilia Dapaah Owusu, Bernard Baiden and Caleb Debrah

The construction business is widely recognised for its inherent complexity and dynamic nature, which stems from the nature of the job involved. The industry is often regarded as…

Abstract

Purpose

The construction business is widely recognised for its inherent complexity and dynamic nature, which stems from the nature of the job involved. The industry is often regarded as one of the most challenging industries globally in terms of implementing environmental, health and safety (EHS) practices. However, in the absence of EHS, the construction industry cannot be considered sustainable. Therefore, this study aims to identify the trends, knowledge gaps and implications of EHS research to enhance construction activities and knowledge.

Design/methodology/approach

The study adopted a science mapping approach involving bibliometric and scientometric analysis of 407 construction EHS publications from the Scopus database with the VOSviewer software. The study is based on journal articles from the Scopus database without restriction to any time range.

Findings

The main focus of construction EHS research identified in the study includes sustainability-related studies, risk-related, environmental issues, EHS management, integrated management systems studies, health and safety related and EHS in the construction process. Some emerging areas also identified include productivity, design, culture, social sustainability and machine learning. The most influential and productive publication sources, countries/regions and EHS publications with the highest impact were also determined.

Research limitations/implications

Documents published in the Scopus database were considered for analysis because of the wider coverage of the database. Journal articles written in English language represent the inclusion criteria, whereas other documents were excluded from the analysis. The study also limited the search to articles with the engineering subject area.

Practical implications

The research findings will enlighten stakeholders and practitioners on the focal knowledge areas in the EHS research domain, which are vital for enhancing EHS in the industry.

Originality/value

To the best of the authors’ knowledge, this review-based study is the first attempt to internationally conduct a science mapping on extant literature in the EHS research domain through bibliometric and scientometric assessments.

Details

Journal of Engineering, Design and Technology , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1726-0531

Keywords

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