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Article
Publication date: 4 October 2022

Sivakumar Sundararajan and Senthil Arasu Balasubramanian

This study examines the dynamic linkages between the Indian Nifty index futures traded on the offshore Singapore Exchange (SGX) and US stock indices (DJIA, NASDAQ and S&P 500…

Abstract

Purpose

This study examines the dynamic linkages between the Indian Nifty index futures traded on the offshore Singapore Exchange (SGX) and US stock indices (DJIA, NASDAQ and S&P 500) under the closure of the spot market for Nifty futures.

Design/methodology/approach

With high-frequency 5-min overlapping price data, the authors employ the Johansen cointegration test to investigate long-run relationships, the Granger causality test to assess short-run dynamics and the BEKK-GARCH model for volatility spillover investigation.

Findings

The empirical findings reveal that the SGX Nifty futures market is cointegrated with the US DJIA market. The US DJIA stock index strongly influences the price discovery of SGX Nifty futures and past innovations in the US markets strongly impact the current volatility of SGX Nifty futures.

Practical implications

Findings from this study have significant implications for market participants, particularly foreign investors and portfolio managers. These findings might be helpful for market participants to improve the prediction power of expected SGX Nifty futures price and volatility, especially under the closure of the spot market. Also, SGX market participants can take the significant role of the US market into account when formulating hedging and trading strategies with Indian Nifty futures. Besides, our findings have significant implications for policymakers in evaluating market stability.

Originality/value

This article adds to the very limited research on offshore or international stock index futures; it is the first study that empirically examines the international linkages of offshore SGX Nifty futures under the closure of its underlying spot market and also the driving force behind the linkages.

Details

Managerial Finance, vol. 49 no. 3
Type: Research Article
ISSN: 0307-4358

Keywords

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: 16 March 2020

Uzay Damali, Enrico Secchi, Stephen S. Tax and David McCutcheon

Customer participation (CP) has received considerable interest in the service literature as a way to improve the customer experience and reduce service providers' costs. While its…

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Abstract

Purpose

Customer participation (CP) has received considerable interest in the service literature as a way to improve the customer experience and reduce service providers' costs. While its benefits are not in question, there is a paucity of research on potential pitfalls. This paper provides a conceptual foundation to address this gap and develops a comprehensive model of the risks of customer participation in service delivery, integrating research from the marketing, operations and supply chain management, strategy, and information technology fields.

Design/methodology/approach

The model is derived deductively by integrating insights from research in marketing, operations and supply chain management, strategy, and information technology.

Findings

This paper identifies three categories of potential risks of CP (i.e. market, operational, and service network) and discusses ways that firms can mitigate these risks. Building on the model, it develops a CP risk assessment tool that managers can use when evaluating increases in CP.

Research limitations/implications

The conceptual model proposed in this paper can serve as a robust basis for future research in customer participation, particularly in such areas as sharing economy services, service delivery networks, and experiential services. The risk assessment tool offers clear guidelines for managers who are considering an increase in customer participation in their service.

Originality/value

This is the first attempt to conceptually define customer participation risk and develop a comprehensive model of its drivers and strategies to mitigate it. This paper develops a straightforward method for managers to evaluate CP risk.

Details

Journal of Service Management, vol. 32 no. 1
Type: Research Article
ISSN: 1757-5818

Keywords

Article
Publication date: 3 February 2020

Santosh Kumar, Manoj Kumar and Neeru Jindal

This paper aims to consolidate the results of various researchers focusing the different applications, so that this paper could become the torch bearer for the futuristic…

Abstract

Purpose

This paper aims to consolidate the results of various researchers focusing the different applications, so that this paper could become the torch bearer for the futuristic researchers working in the domain of cold gas dynamics spray coating.

Design/methodology/approach

A study on the cold spray coating is presented by summarizing the data present in literature. Important factors such as coating temperature, pressure, coating thickness, particle size, which affect the erosion-corrosion (E-C) resistance, physical and mechanical properties of boiler steel are stated. This paper also addresses the use of cold spray coating and compares it with other different thermal spray processes.

Findings

From the literature review, it was noticed that cold spray technology is best as compare to other thermal spray processes to reduce porosity, increase hardness, adhesion strength and retention in properties of feedstock powders.

Originality/value

Cold spray coating technology has a great potential in almost every field especially in restoration of surfaces, generation of complex surface, biomedical application, resist hot corrosion, wear, oxidation and erosion corrosion.

Details

World Journal of Engineering, vol. 17 no. 1
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 14 July 2020

Subhasree Dutta, Somnath Bhattacharyya and Ioan Pop

This study aims to numerically analyse the impact of an inclined magnetic field and Joule heating on the conjugate heat transfer because of the mixed convection of an Al2O3–water…

Abstract

Purpose

This study aims to numerically analyse the impact of an inclined magnetic field and Joule heating on the conjugate heat transfer because of the mixed convection of an Al2O3–water nanofluid in a thick wall enclosure.

Design/methodology/approach

A horizontal temperature gradient together with the shear-driven Flow creates the mixed convection inside the enclosure. The nonhomogeneous model, in which the nanoparticles have a slip velocity because of thermophoresis and Brownian diffusion, is adopted in the present study. The thermal performance is evaluated by determining the entropy generation, which includes the contribution because of magnetic field. A control volume method over a staggered grid arrangement is adopted to compute the governing equations.

Findings

The Lorentz force created by the applied magnetic field has an adverse effect on the flow and thermal field, and consequently, the heat transfer and entropy generation attenuate because of the presence of magnetic force. The Joule heating enhances the fluid temperature but attenuates the heat transfer. The impact of the magnetic field diminishes as the angle of inclination of the magnetic field is increased, and it manifests as the volume fraction of nanoparticles is increased. Addition of nanoparticles enhances both the heat transfer and entropy generation compared to the clear fluid with enhancement in entropy generation higher than the rate by which the heat transfer augments. The average Bejan number and mixing-cup temperature are evaluated to analyse the thermodynamic characteristics of the nanofluid.

Originality/value

This literature survey suggests that the impact of an inclined magnetic field and Joule heating on conjugate heat transfer based on a two-phase model has not been addressed before. The impact of the relative slip velocity of nanoparticles diminishes as the magnetic field becomes stronger.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 31 no. 1
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 19 August 2021

Sanjay Sudhir Kulkarni and Arjav A. Bavarva

Fifth-generation (5G) networks play a significant role in handover methods. 5G wireless network is open, flexible and highly heterogeneous along with the overlay coverage and…

Abstract

Purpose

Fifth-generation (5G) networks play a significant role in handover methods. 5G wireless network is open, flexible and highly heterogeneous along with the overlay coverage and small cell deployments. Handover management is one of the main problems in the heterogeneous network. Also, handover satisfies the needs of ultra-reliable communications along with very high reliability and availability in 5G networks. Handover management deals with every active connection of a user’s device, which moves the connection between the user’s device and the counterparty from one network point to another. Thus, the handover decision determines the best access network and also decides whether the handover is performed or not.

Design/methodology/approach

The main intention of this survey is to review several existing handover technologies in 5G. Using the categories of analysis, the existing techniques are divided into different techniques such as authentication-based techniques, blockchain-based techniques, software-defined-based techniques and radio access-based techniques. The survey is made by considering the methods such as used software, categorization of methods and used in the research works. Furthermore, the handover rate is considered for performance evaluation for the handover techniques in 5G. The drawbacks present in the existing review papers are elaborated in research gaps and issues division.

Findings

Through the detailed analysis and discussion, it can be summarized that the widely concerned evaluation metric for the performance evaluation is the handover rate. It is exploited that the handover rate within the range of 91%–99% is achieved by three research papers.

Originality/value

A survey on the various handover mechanisms in 5G networks is expected in this study. The research papers used in this survey are gathered from different sources such as Google Scholar and IEEE. Also, this survey suggests a further extension for the handover mechanism in 5G networks by considering various research gaps and issues.

Details

International Journal of Pervasive Computing and Communications, vol. 19 no. 2
Type: Research Article
ISSN: 1742-7371

Keywords

Article
Publication date: 24 September 2019

Madjid Tavana and Vahid Hajipour

Expert systems are computer-based systems that mimic the logical processes of human experts or organizations to give advice in a specific domain of knowledge. Fuzzy expert systems…

Abstract

Purpose

Expert systems are computer-based systems that mimic the logical processes of human experts or organizations to give advice in a specific domain of knowledge. Fuzzy expert systems use fuzzy logic to handle uncertainties generated by imprecise, incomplete and/or vague information. The purpose of this paper is to present a comprehensive review of the methods and applications in fuzzy expert systems.

Design/methodology/approach

The authors have carefully reviewed 281 journal publications and 149 conference proceedings published over the past 37 years since 1982. The authors grouped the journal publications and conference proceedings separately accordingly to the methods, application domains, tools and inference systems.

Findings

The authors have synthesized the findings and proposed useful suggestions for future research directions. The authors show that the most common use of fuzzy expert systems is in the medical field.

Originality/value

Fuzzy logic can be used to manage uncertainty in expert systems and solve problems that cannot be solved effectively with conventional methods. In this study, the authors present a comprehensive review of the methods and applications in fuzzy expert systems which could be useful for practicing managers developing expert systems under uncertainty.

Details

Benchmarking: An International Journal, vol. 27 no. 1
Type: Research Article
ISSN: 1463-5771

Keywords

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