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The unstable money demand function over the recent decades may explain the unsatisfactory performance of the exchange rate model. Numerous studies have shown that Divisia money serves as a better variable for a stable money demand function. In this study, Divisia money is used as an alternative money supply in MYR/USD exchange rate determination. This study finds that Divisia money differential, real income differential, relative short-term interest rate and real stock prices affect the MYR/USD exchange rate in the long run. The major implication of this study is that policy-makers could monitor the MYR/USD exchange rate via the money supplies following the principle of Divisia monetary aggregate, which assigns higher weightage to more frequently traded monetary assets.

This paper aims to explain real exchange rate fluctuations by means of a model including both standard fundamentals and two alternative measures of inflation expectations for five inflation targeting countries (the UK, Canada, Australia, New Zealand and Sweden) over the period January 1993–July 2019.

Both a benchmark linear autoregressive distributed lag (ARDL) model and a nonlinear autoregressive distributed lag (NARDL) specification are considered.

The results suggest that the nonlinear framework is more appropriate to capture the behaviour of real exchange rates given the presence of asymmetries both in the long and short run. In particular, the speed of adjustment towards the purchasing power parity (PPP) implied long-run equilibrium is three times faster in a nonlinear framework, which provides much stronger evidence in support of PPP. Moreover, inflation expectations play an important role, with survey-based ones having a more sizable effect than market-based ones.

The focus on linearities and the estimation of a NARDL model, which is shown to outperform the linear ARDL model both within sample and out of sample, is an important contribution to the existing literature which has rarely applied this type of framework; the choice of an appropriate econometric method also makes the policy implications of the analysis more reliable; in particular, monetary authorities should aim to achieve a high degree of credibility to manage them and thus currency fluctuations effectively; the inflation targeting framework might be especially appropriate for this purpose.

Three years after the introduction of exchange‐traded options on the American scene, a call options market was made with ten popular common stocks in Singapore in early 1977. Only calls were traded and no puts were introduced. After six months of trading actively, volume dwindled, and the market was withdrawn in early 1980. Three currency options markets introduced in 1987 continues to thrive at the time of this study. The reason for the demise of the call options market is mainly the significant mispricing of the contracts as most contracts were systematically above the theoretical fair prices. Low volatility in the spot market after the calls were introduced, availability of alternative speculative instrument for traders, high transaction costs and the lack of knowledge about the complexity of options trades are suggested as reasons for the failure of the market. As a new options market has been introduced again in March, 1993, it is worthwhile to learn from the past.

The purpose of this paper is to examine the moderated-mediational relationship between the impostor phenomenon (IP) and work-to-family conflict (WFC). Building on conservation of resources (COR) theory, the authors hypothesize that individuals who experience the IP lack the initial resources needed to meet work demands and, thus, experience emotional exhaustion, which leads to WFC. However, the authors hypothesize that additional resources provided by organizations, such as perceived organizational support (POS), may weaken the negative experiences of imposters.

The authors tested a moderated-mediation model using data from a time-lagged survey study among 92 Midwest community college employees. Regression was used to examine the mediating effects of emotional exhaustion and the moderating effect of POS on the IP to WFC relationship.

Results support the hypothesized model. Emotional exhaustion is a mediating mechanism in the relationship between the IP and WFC. POS is a moderator of this indirect relationship; the indirect relationship between the IP and WFC through emotional exhaustion is weaker when employees perceive high levels of POS.

The findings suggest that there are detrimental long-term effects associated with the IP for organizations. Thus, managers should curb feelings of impostorism within their organizations and provide impostors with organizational support in order to reduce their emotional exhaustion and WFC.

The present study indicates that individual dispositions play an indirect role in WFC. Furthermore, the authors identify organizational outcomes associated with the IP, whereas previous research has rarely emphasized outcomes.

A design is robust if the design values for selected performance characteristics (i.e. responses) are chosen to be invariant to the variations the product will experience. For a design to be acceptable, it must conform to the design specifications. However, due to the existence of variation, this conformance is satisfied probabilistically, i.e. yield. Optimal manufacturing yield design is defined as a design that maximises the probability of satisfying the design specifications. Methods to achieve robust design for a single response and to achieve yield maximization are well established. A new method of achieving high yield and robust design for multiple responses is presented using the C_p and C_pk capability indices used in on‐line quality control techniques. The proposed method is applied to a single response problem and two multiple response problems. The results showed that the proposed method is capable of producing good manufacturing yield and robust design simultaneously.

The purpose of this study is to analyze the dynamic changes of the arms trade network not only from the network structure but also the influence mechanism from the aspects of the economy, politics, security, strategy and transaction costs.

The study employs the Temporal Exponential Random Graph Model and the Separable Temporal Exponential Random Graph Model to analyze the endogenous network structure effect, the attribute effect and the exogenous network effect of 47 major arms trading countries from 2015 to 2020.

The results show that the international arms trade market is unevenly distributed, and there are great differences in military technology. There is a fixed hierarchical structure in the arms trade, but the rise of emerging countries is expected to break this situation. In international arms trade relations, economic forces dominate, followed by political, security and strategic factors.

Economic and political factors play an important role in the arms trade. Therefore, countries should strive to improve their economic strength and military technology. Also, countries should increase political mutual trust and gain a foothold in the industrial chain of arms production to enhance their military power.

The contribution of this paper is to analyze the special trade area of arms trade from a dynamic network perspective by incorporating economic, political, security, strategic and transaction cost factors together into the TERGM and STERGM models.

Within an effort of European Union (EU) policy to achieve carbon-neutral agriculture, the present study intends to explore the impact of carbon emissions generated by different sources related to agriculture namely energy used in farming, by enteric fermentation and by fertilizers on agricultural income in 25 countries from EU.

In order to evaluate the environmental – economic performance linkage for EU agriculture, we employ a couple of different widely used panel unit root tests explicitly Levin, Li and Chu, Im, Pesaran and Shin, ADF and PP Fisher Chi-square test cointegration test (Pedroni and Kao cointegration tests) and model estimation methodologies namely the FMOLS and DOLS and ARDL – PMG models.

All the cointegration techniques employed namely Pedroni, Kao test and Johansen Pesaran cointegration tests validate the existence of long run relationships. The most significant finding is the model estimation based on three different methodologies namely FMOLS, DOLS and ARDL/PMG models. No convergence in the results was found by different estimation models. For the short term coefficients and more specifically for the case of carbon emissions generated by energy the impact on agricultural income seems to be decreasing with a decreasing trend, a result that validates the little effort made by farmers to limit carbon emissions along with the limited efficacy of the implementing policy. The same findings are valid for the first two estimation models while for the case of the third model the reversed relationship is validated. For the carbon emissions generated by enteric fermentation, the inverted-U pattern is validated with DOLS and ARDL/PMG model while for the case of fertilizers only the third model confirms the validity of inverted-U- pattern.

Based on the obtained empirical results, a list of policy implications is unveiled with multiple impacts on the strategy and practices adopted by farmers in order for the objective of eco efficieny to be achieved.

The conducted research is focusing on the environmental – economic performance linkages for EU agriculture and examines the role of agri – environmental policy in the evolution of the particular relationship for different sources of environmental pollution in agricultural activity.

The widespread application of traditional grey model (GM) in different academic fields such as electrical engineering, education, mechanical engineering and agriculture provided the authors with an incentive to conduct the present empirical research in an accounting field, in particular, auditing practice. In this regard, the purpose of this paper is to employ the nonlinear type of the original GM to forecast the drastically changed data on audit reports, primarily due to the fact that the linear nature of GM is unable to forecast nonlinear data precisely. In essence, this paper adds value to the strand of audit report literature by examining the impact of different financial ratios on auditors’ opinion and then forecasting audit reports by employing GMs.

The grey forecasting model is known as a system containing uncertain information presented by grey numbers, equations and matrices. The grey forecasting model is employed by using a differential equation in an uncertain system with limited data set which is suitable for smoothing discrete data. In addition, the analyses are conducted by applying a sample of top 50 listed companies on the Tehran Stock Exchange during 2011-2016.

The findings suggest that audit reports are most influenced by the current ratio and conversely, least influenced by the ratio of working capital turnover. Moreover, the authors argue that the Nash nonlinear grey Bernoulli model is more precise than the nonlinear grey Bernoulli model and GM in forecasting audit reports.

The current study may give more strength to stakeholders in order to analyse and forecast audit report.