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Article
Publication date: 15 June 2023

Wafa Abdelmalek

This study investigates the diversification benefits of multiple cryptocurrencies and their usefulness as investment assets, individually or combined, in enhancing the performance…

Abstract

Purpose

This study investigates the diversification benefits of multiple cryptocurrencies and their usefulness as investment assets, individually or combined, in enhancing the performance of a well-diversified portfolio of traditional assets before and during the pandemic COVID-19.

Design/methodology/approach

This paper uses two optimization techniques, namely the mean-variance and the maximum Sharpe ratio. The naïve diversification rules are used for comparison. Besides, the Sharpe and the Sortino ratios are used as performance measures.

Findings

The results show that cryptocurrencies diversification benefits occur more during the COVID-19 pandemic rather than before it, with the maximum Sharpe ratio portfolio presenting its highest performance. Furthermore, the results suggest that, during COVID-19, the diversification benefits are slightly better when using a combination of cryptocurrencies to an already well-diversified portfolio of traditional assets rather than individual ones. This serves to improve the performance of the maximum Sharpe ratio portfolio, and to some extent, the naïve portfolio. Yet, cryptocurrencies, whether added individually or combined to a well-diversified portfolio of traditional assets, don't fit in the minimum variance portfolio. Besides, the efficient frontier during COVID-19 pandemic dominates the one before COVID-19 pandemic, giving the investor a better risk-return trade-off.

Originality/value

To the best of the author's knowledge, this is the first study that examines the diversification benefits of multiple cryptocurrencies both as individual investments and as additional asset classes, before and during COVID-19 pandemic. The paper covers all analyses performed separately in previous studies, which brings new evidence regarding the potential for cryptocurrencies in portfolio diversification under different portfolio strategies.

Details

EuroMed Journal of Business, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1450-2194

Keywords

Open Access
Article
Publication date: 17 January 2024

Anastasia Krupskaya

The purpose of this paper is to identify and describe the influence of the knowledge base (KB) of the company on driving forces of innovation processes in knowledge-intensive…

Abstract

Purpose

The purpose of this paper is to identify and describe the influence of the knowledge base (KB) of the company on driving forces of innovation processes in knowledge-intensive services (KIS) and to compare the level of innovativeness of the final services.

Design/methodology/approach

The paper investigates through qualitative research 11 KIS organisations with different KB.

Findings

The research results identified and described the influence of the KB on driving forces of innovations processes and its results in companies with four newly identified KBs (analytical, synthetic, symbolic and compliance).

Research limitations/implications

Further research, based on a larger number of companies, is needed to confirm the results of this research and to complement the effect of the KB on driving forces of innovation.

Practical implications

This research can help organisations understand how to develop strategic plans and new ideas for innovative services depending on the KB of the organisation.

Social implications

The description of successful innovation processes and results in several leading companies presented in the study may help other companies in identifying knowledge-integration practices to improve performance and innovation processes that support multiplicity, productivity and creativity.

Originality/value

The study systemised the sources of new ideas for innovation in companies with different KB, several driving forces of innovation were identified and how these forces are affected by each KB; lastly, innovation results were compared in companies with different KB.

Details

foresight, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 5 December 2023

Monika Chopra, Chhavi Mehta, Prerna Lal and Aman Srivastava

The purpose of this research is to primarily understand how crypto traders can use the Bitcoin as a hedge or safe haven asset to reduce their losses from crypto trading. The study…

Abstract

Purpose

The purpose of this research is to primarily understand how crypto traders can use the Bitcoin as a hedge or safe haven asset to reduce their losses from crypto trading. The study also aims to provide insights to crypto investors (portfolio managers) who wish to maintain a crypto portfolio for the medium term and can use the Bitcoin to minimize their losses. The findings of this research can also be used by policymakers and regulators for accommodating the Bitcoin as a medium of exchange, considering its safe haven nature.

Design/methodology/approach

This study applies the cross-quantilogram (CQ) approach introduced by Han et al. (2016) to examine the safe-haven property of the Bitcoin against the other selected crypto assets. This method is robust for estimating bivariate volatility spillover between two markets given unusual distributions and extreme observations. The CQ method is capable of calculating the magnitude of the shock from one market to another under different quantiles. Additionally, this method is suitable for fat-tailed distributions. Finally, the method allows anticipating long lags to evaluate the strength of the relationship between two variables in terms of durations and directions simultaneously.

Findings

The Bitcoin acts as a weak safe haven asset for a majority of new crypto assets for the entire study period. These results hold even during greed and fear sentiments in the crypto market. The Bitcoin has the ability to protect crypto assets from sharp downturns in the crypto market and hence gives crypto traders some respite when trading in a highly volatile asset class.

Originality/value

This study is the first attempt to show how the Bitcoin can act as a true matriarch/patriarch for crypto assets and protect them during market turmoil. This study presents a clear and concise representation of this relationship via heatmaps constructed from CQ analysis, depicting the quantile dependence association between the Bitcoin and other crypto assets. The uniqueness of this study also lies in the fact that it assesses the protective properties of the Bitcoin not only for the entire sample period but also specifically during periods of greed and fear in the crypto market.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

Article
Publication date: 8 January 2024

Indranil Ghosh, Rabin K. Jana and Dinesh K. Sharma

Owing to highly volatile and chaotic external events, predicting future movements of cryptocurrencies is a challenging task. This paper advances a granular hybrid predictive…

Abstract

Purpose

Owing to highly volatile and chaotic external events, predicting future movements of cryptocurrencies is a challenging task. This paper advances a granular hybrid predictive modeling framework for predicting the future figures of Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Stellar (XLM) and Tether (USDT) during normal and pandemic regimes.

Design/methodology/approach

Initially, the major temporal characteristics of the price series are examined. In the second stage, ensemble empirical mode decomposition (EEMD) and maximal overlap discrete wavelet transformation (MODWT) are used to decompose the original time series into two distinct sets of granular subseries. In the third stage, long- and short-term memory network (LSTM) and extreme gradient boosting (XGB) are applied to the decomposed subseries to estimate the initial forecasts. Lastly, sequential quadratic programming (SQP) is used to fetch the forecast by combining the initial forecasts.

Findings

Rigorous performance assessment and the outcome of the Diebold-Mariano’s pairwise statistical test demonstrate the efficacy of the suggested predictive framework. The framework yields commendable predictive performance during the COVID-19 pandemic timeline explicitly as well. Future trends of BTC and ETH are found to be relatively easier to predict, while USDT is relatively difficult to predict.

Originality/value

The robustness of the proposed framework can be leveraged for practical trading and managing investment in crypto market. Empirical properties of the temporal dynamics of chosen cryptocurrencies provide deeper insights.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

Article
Publication date: 5 December 2023

Henar Alcalde-Heras and Francisco Carrillo Carrillo

The purpose of the study is to investigate how small- and medium-sized enterprises (SMEs) can effectively collaborate for eco-innovation using the business modes of innovation…

Abstract

Purpose

The purpose of the study is to investigate how small- and medium-sized enterprises (SMEs) can effectively collaborate for eco-innovation using the business modes of innovation framework to emphasise three types of collaboration: “science, technology, and innovation” (STI), “learning by doing, using, and interacting” (DUI)-Vertical and DUI-Horizontal.

Design/methodology/approach

This analysis uses data from 838 SMEs in the Basque Country (2018–2020) to evaluate the effects of the three types of collaboration on eco-innovation. The authors employ a propensity score-based method to address potential bias associated with endogeneity in innovation studies.

Findings

The findings suggest that DUI-Vertical collaboration has a positive relationship with the development of product, process and marketing eco-innovation. Furthermore, DUI-horizontal collaboration is the most effective collaboration mode for SMEs, positively impacting their overall eco-innovation portfolio. Finally, STI collaboration is positively associated with product eco-innovation.

Practical implications

Policymakers should support SMEs by designing programmes that facilitate collaboration between competing firms to stimulate eco-innovation, but potential challenges of coopetition must be addressed. Rather than a generic, one-size-fit-all approach, SMEs' managers should identify the most appropriate partners corresponding to their specific eco-innovation goal, ensuring a more effective and targeted. Collaboration between science partners and SMEs should be reinforced by approximating the SMEs' needs more effectively.

Originality/value

This study contributes twofold. Firstly, the authors investigate whether the STI and DUI modes of innovation are determinant factors in the introduction of various types of eco-innovation. Secondly, the authors contribute to the literature on business modes of innovation by differentiating between DUI-Vertical (i.e. suppliers, customers and consultancy) and DUI-Horizontal (i.e. competitors) collaboration, thus highlighting the complexity of DUI collaboration forms.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 13 July 2023

S.R. Toliver

The purpose of this paper is to further theorize BlackCrit to include a deeper focus on the framing idea of Black liberatory fantasy via Afrofuturism.

Abstract

Purpose

The purpose of this paper is to further theorize BlackCrit to include a deeper focus on the framing idea of Black liberatory fantasy via Afrofuturism.

Design/methodology/approach

To develop the theoretical connections, the author revisits their previous scholarship on Black girls’ Afrofuturist storytelling practices to elucidate how the girls used their speculative narratives to critique the antiblackness present in their schools and the world at large and to create future worlds in which they have the power to create the world anew.

Findings

This paper discusses the relationship between BlackCrit and Afrofuturism by considering three interrelated ideas: how Afrofuturism acknowledges the antiblackness embedded in the USA; how BlackCrit makes space for liberatory Black futures and otherwise worlds; and how each theoretical idea inherently complements the other.

Originality/value

This paper creatively uses a hip hop album as a foundation for the portrayal of the intricate connections between Black pasts, presents and futures. As a conceptual paper, it pushes educators and researchers to consider the call and response between antiblackness and Black futurity.

Details

Journal for Multicultural Education, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-535X

Keywords

Article
Publication date: 24 February 2022

Jamil Razmak

This paper proposes a Web-based patient portal based on the electronic medical record. Such a portal can allow patients to manage their own health care, reduce health-care visits…

Abstract

Purpose

This paper proposes a Web-based patient portal based on the electronic medical record. Such a portal can allow patients to manage their own health care, reduce health-care visits and significantly improve the quality of their health care.

Design/methodology/approach

A patient portal prototype and an accompanying online survey were distributed to assess the adoption readiness among a group of people in the United Arab Emirates (UAE).

Findings

The results from 470 survey participants demonstrated an enhanced awareness of this technology, and support the study hypotheses indicating that both intrinsic and extrinsic factors are important when considering the implementation of a patient portal in the UAE.

Originality/value

This study adds value to the few research studies undertaken in the Middle East discussing online health information technology and its adoption and usage among the population at large. The extended technology acceptance model, which contains two additional constructs, had not been previously validated in terms of a patient portal in the UAE, according to the author’s knowledge, adding more value. The UAE’s health-care system must use the benefits from the available IT infrastructure to provide a user-friendly online portal to encourage patients to manage their health care and health information.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

Article
Publication date: 8 April 2024

Sana Braiek and Houda Ben Said

This study aims to empirically explore and compare the dynamic dependency between health-care sector and Islamic industries before, during and after the COVID-19 pandemic.

Abstract

Purpose

This study aims to empirically explore and compare the dynamic dependency between health-care sector and Islamic industries before, during and after the COVID-19 pandemic.

Design/methodology/approach

Time-varying student-t copula is used for before, during and after COVID-19 periods. The data used are the daily frequency price series of the selected markets from February 2017 to October 2023.

Findings

Empirical results found strong evidence of significant impact of the COVID-19 pandemic on the dependence structure of the studied indexes: Co-movements between various sectors are certain. The authors assist also in the birth of new dependence structure with the health-care industry in response to the COVID-19 crisis. This reflects the contagion occurrence from the health-care sector to other sectors.

Originality/value

By specifically examining the Islamic industry, this study sheds light on the resilience, challenges and opportunities within this sector, contributing novel perspectives to the broader discourse on pandemic-related impacts on economies and industries. Also, this paper conducts a comprehensive temporal analysis, examining the dynamics before, during and after the COVID-19 lockdown. Such approach enables an understanding of how the relationship between the health-care sector and the Islamic industry evolves over time, accounting for both short-term disruptions and long-term effects. By considering the pre-pandemic context, the paper adopts a longitudinal perspective, enabling a deeper understanding of how historical trends, structural factors and institutional frameworks shape the interplay between the health-care sector and the Islamic industry.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 13 February 2024

Aydin S. Oksoy, Matthew R. Farrell and Shaomin Li

The purpose of this study is to investigate if a firm's exchange complexity profile (that is, the linkages between the firm and its environment) influences investor behavior at…

Abstract

Purpose

The purpose of this study is to investigate if a firm's exchange complexity profile (that is, the linkages between the firm and its environment) influences investor behavior at the negotiation table where a firm valuation is derived.

Design/methodology/approach

The authors utilize Qualitative Comparative Analysis (QCA). Specifically, the authors utilize fuzzy-set Qualitative Comparative Analysis (fsQCA), a QCA variant that allows the researcher to assign graduated membership in sets.

Findings

When the authors dichotomize their positions as either higher stakes that favor the seller (high capital, low equity, high valuation) or lower stakes that favor the buyer (low capital, high equity, low valuation), and when the authors focus primarily on the equity outcome, the authors find that investors adopt a reductionist stance that adheres to a transaction cost economics logic under conditions of lower stakes and higher complexity as well as higher stakes and lower complexity conditions. The authors interpret this to mean that equity serves as a counter-balancing lever for a firm's exchange complexity configuration.

Originality/value

On a theoretical level, the authors showcase the exchange complexity framework and differentiate its position within the extant frameworks that address a firm's competitive advantage. More generally, the authors note that this framework brings the discipline of micro-economics and the field of strategic management closer together, providing scholars with a new tool enabling research across industries for the portfolio level of analysis.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 13 October 2023

Ikhlaas Gurrib, Firuz Kamalov, Olga Starkova, Elgilani Eltahir Elshareif and Davide Contu

This paper aims to investigate the role of price-based information from major cryptocurrencies, foreign exchange, equity markets and key commodities in predicting the next-minute…

Abstract

Purpose

This paper aims to investigate the role of price-based information from major cryptocurrencies, foreign exchange, equity markets and key commodities in predicting the next-minute Bitcoin (BTC) price. This study answers the following research questions: What is the best sparse regression model to predict the next-minute price of BTC? What are the key drivers of the BTC price in high-frequency trading?

Design/methodology/approach

Least absolute shrinkage and selection operator and Ridge regressions are adopted using minute-based open-high-low-close prices, volume and trade count for eight major cryptos, global stock market indices, foreign currency pairs, crude oil and gold price information for February 2020–March 2021. This study also examines whether there was any significant break and how the accuracy of the selected models was impacted.

Findings

Findings suggest that Ridge regression is the most effective model for predicting next-minute BTC prices based on BTC-related covariates such as BTC-open, BTC-high and BTC-low, with a moderate amount of regularization. While BTC-based covariates BTC-open and BTC-low were most significant in predicting BTC closing prices during stable periods, BTC-open and BTC-high were most important during volatile periods. Overall findings suggest that BTC’s price information is the most helpful to predict its next-minute closing price after considering various other asset classes’ price information.

Originality/value

To the best of the authors’ knowledge, this is the first paper to identify the covariates of major cryptocurrencies and predict the next-minute BTC crypto price, with a focus on both crypto-asset and cross-market information.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

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