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The purpose of this paper is to scrutinise the effectiveness of four derivative exchanges’ enforcement efforts since 2007. These exchanges include the Commodity Exchange Inc. and ICE Futures US from the United States and ICE Futures Europe and the London Metal Exchange from the UK.

The paper examines 799 enforcement notices published by four exchanges through a behavioural science lens: HUMANS conceived by Hunt (2023) in Humanizing Rules: Bringing Behavioural Science to Ethics and Compliance.

The paper finds the effectiveness of the exchanges’ enforcement efforts to be a mixed picture as financial markets transition from the digital to artificial intelligence era. Humans remain a key cog in the wheel of market participants’ trading operations, albeit their roles have changed. Despite this, some elements of exchanges’ enforcement regimes have not kept pace with the move from floor to remote trading. However, in other respects, their efforts are or should be, effective, at least in behavioural terms.

The paper’s findings are arguably limited to exchanges based in Anglophone jurisdictions. The information published by the exchanges is variable, making “like-for-like” comparisons difficult in some areas.

The paper makes several recommendations that, if adopted, could help exchanges to increase the potency of their enforcement programmes.

A key aim of the paper is to shift the lens through which the debate concerning the efficacy of exchange-level oversight is conducted. Hitherto, a legal lens has been used, whereas this paper uses a behavioural lens.

The study aims to identify the possible risk factors for electricity grids operational disruptions and to determine the most critical and influential risk indicators.

A multi-criteria decision-making best-worst method (BWM) is employed to quantitatively identify the most critical risk factors. The grey causal modeling (GCM) technique is employed to identify the causal and consequence factors and to effectively quantify them. The data used in this study consisted of two types – quantitative periodical data of critical factors taken from their respective government departments (e.g. Indian Meteorological Department, The Central Water Commission etc.) and the expert responses collected from professionals working in the Indian electric power sector.

The results of analysis for a case application in the Indian context shows that temperature dominates as the critical risk factor for electrical power grids, followed by humidity and crop production.

The study helps to understand the contribution of factors in electricity grids operational disruptions. Considering the cause consequences from the GCM causal analysis, rainfall, temperature and dam water levels are identified as the causal factors, while the crop production, stock prices, commodity prices are classified as the consequence factors. In practice, these causal factors can be controlled to reduce the overall effects.

From the results of the analysis, managers can use these outputs and compare the risk factors in electrical power grids for prioritization and subsequent considerations. It can assist the managers in efficient allocation of funds and manpower for building safeguards and creating risk management protocols based on the severity of the critical factor.

The research comprehensively analyses the risk factors of electrical power grids in India. Moreover, the study apprehends the cause-consequence pair of factors, which are having the maximum effect. Previous studies have been focused on identification of risk factors and preliminary analysis of their criticality using autoregression. This research paper takes it forward by using decision-making methods and causal analysis of the risk factors with blend of quantitative and expert response based data analysis to focus on the determination of the criticality of the risk factors for the Indian electric power grid.

This study aims to define a “technological statecraft” concept to distinguish tech-based measures/sanctions from an array of economic measures ranging from restrictions of rare earth elements and natural gas supplies to asset freezes under the wider portfolio of economic statecraft. This concept is practically intended to reveal the USA’s “logic of choice” in its employment of technology as an efficient instrument to deal with China in the context of the great power rivalry.

This study follows David A. Baldwin’s statecraft definition and conceptualization methodology, which relies on “means” rather than “ends.” In addition to Baldwin and as an incremental contribution to his economic statecraft analysis, this study also combines national political economy with statecraft analysis with a particular focus on the utilization of technological measures against China during the Trump administration.

The US rationale for choosing technology, namely, emerging and foundational technologies, in its rivalry against China is caused at least by two factors: the nature of the external challenge and the characteristics of the US innovation model based largely on radical innovations. To deal with China, the USA practically distinguished the role of advanced technology and followed a grammer of technological statecraft as depicted in the promulgated legal texts during the Trump administration.

Despite a growing volume of literature on economic statecraft and technological competition, studies focusing on countries’ “logic of choice” with regard to why and under what conditions they choose financial, technological or commodity-based sanctions/measures/controls are lacking. Inspired from Baldwin’s account on the “logic of choice” from among alternative statecrafts (i.e. diplomacy, military, economic statecraft, and propaganda). This study will contribute to the literature with a clear lens to demonstrate the “logic of choice” from among a variety of economic statecraft measures in the case of the US technological statecraft toward China.

This study aims to examine the export competitiveness of Vietnam’s apparel sector by identifying the precise product categories that create its comparative advantage.

Revealed comparative advantage (RCA) and normalized revealed comparative advantage (NRCA) form the research methodology, and the RCA/NRCA values are calculated for the 2011–2020 period.

In total, 29 out of 34 product categories at four-digit levels and 65 out of 217 subcategories at six-digit levels elicited a consistent export comparative advantage throughout the 10-year study timeframe. The study also identified 13 subcategories at six-digit levels, which indicated 10 consecutive years of relative disadvantages.

The study’s findings have far-reaching implications for economic policy, development strategies and global economic integration. By providing a nuanced understanding of a country’s export strengths in the international apparel trade, this study offers valuable guidance for informed decision-making at various levels. The findings will serve as a significant source of information for policymakers and help them formulate novel policies aiming to diversify Vietnam’s apparel product offerings and export destinations. The results will also inform the government regarding the industry’s potential and attract necessary support, enabling it to grow further. This study reveals patterns in Vietnam’s apparel trade but does not provide insights into the underlying causes of comparative advantage.

The study provides an in-depth overview of Vietnam’s comparative advantages and disadvantages at two-, four- and six-digit harmonized system levels and helps understand Vietnam’s apparel export competitiveness.

The purpose of this paper is to consider the ethical and environmental implications of allowing space resource extraction to disrupt existing fuel economies, including how companies can be held accountable for ensuring the responsible use of their space assets. It will also briefly consider how such assets should be taxed, and the cost/benefit analyses required to justify the considerable expense of supporting this emerging space industry.

This paper adopts theoretical bioethics methodologies to explore issues of normative ethics and the formulation of moral rules to govern individual, collective and institutional behaviour. Specifically, it considers social justice and social contract theory, consequentialist and deontological accounts of ethical evaluation. It also draws on sociological and organisational literature to discuss Dowling and Pfeffer’s (1975) and Suchman’s (1995) theories of pragmatic, cognitive and moral legitimacy as they may be applied to off-world mining regulations and the handling of space assets.

The findings of this conceptual paper indicate there is both a growing appetite for tighter resource extraction regulations to address climate change and wealth concentration globally, and an opportunity to establish and legitimise new ethical norms for commercial activity in space that can avoid some of the challenges currently facing fossil fuel divestment movements on Earth.

By adopting methodologies from theoretical bioethics, sociology and business studies, including applying a legitimacy lens to the issue of off-world mining, this paper synthesises existing knowledges from these fields and brings them to the new context of the future space resource economy.

This study explores a hegemonic alliance and the role of relational forms of accounting and accountablity in the making of contemporary capitalism.

We use the WikiLeaks “Cablegate” documents to provide an account of the detailed machinations between interest groups (corporations and the state) that are constitutive of hegemonic activity.

Our analysis of the “Cablegate” documents shows that the US and Chevron were crafting a central role for Turkmenistan and its president on the global political stage as early as 2007, despite offical reporting beginning only in 2009. The documents exemplify how “accountability gaps” occlude the understanding of interdependence between capital and the state.

The study contributes to a growing idea that official accounts offer a fictionalized narrative of corporations as existing independently, and thus expands the boundaries associated with studying multinational corporate activities to include their interdependencies with the modern state.

The study traces how global capitalism extends into new territories through diplomatic channels, as a strategic initiative between powerful state and capital interests, arguing that the outcome is the empowerment of authoritarian states at the cost of democracy.

The study argues that previous accounting and accountability research has overlooked the larger picture of how capital and the state work together to secure a mutual hegemonic interest. We advocate for a more complete account of these activities that circumvents official, often restricted, views of global capitalism.

This study aims to synthesize the existing literature with insights gained from interviews conducted with regulatory experts. The objective is to analyse the challenges associated with incorporating cryptocurrencies into regulatory frameworks and to explore constraints in the regulatory institutionalization of cryptocurrencies.

The study methodology consists of two steps. The first step is to identify regulatory constraints in the literature review and in the next step, interviews are conducted with officials of the State Bank of Pakistan (SBP). The study used a qualitative case study methodology, in which a single case (regulatory constraint) was selected as a unit of analysis.

The findings show that lack of traceability, legal status, lack of governmental control due to decentralization, difficulty enforcing laws, volatility, lack of skills with regulators and difficulty integrating cryptocurrencies into the current financial system are the main obstacles to the introduction of a regulatory framework. Thus, on a broader conceptual level, the findings can be grouped into opportunism, lack of strategic capability and fragmented global laws.

This study could inform global cryptocurrency regulation discussions, sharing a developing country’s views on balancing the government, central banks, the financial sector and public interests. This could guide countries to consider cryptocurrency adoption in similar situations. This could affect the cryptocurrency market, impacting demand, supply and investor trust in Pakistan.

The study has implications for policy making officials. The research aims to offer valuable insights to the SBP and other regulatory authorities, helping them identify potential risks and create an effective regulatory framework for cryptocurrencies.

The study has implications for society in knowing about the volatile nature of cryptos and anonymity of their issuers, which poses regulatory constraints. This then implies its harmfullness to its traders and the huge losses that may arise from their trading due to its volatile nature.

This study contributes to the literature on the constraints, responsibilities and consultation framework of cryptocurrency regulations.

The purpose of this paper is to investigate the extent to which interdisciplinary (HASS, i.e. non-STEM) factors—in particular, accounting, stakeholder management and accountability—enable, influence and motivate large human exploration ventures, principally in maritime and space fields, utilizing Columbus’s and Chinese explorations of the 1400s as the primary setting.

The study analyzes archival data from narrative and interpretational history, including both academic and non-academic sources, that relate to two global historical events, the Columbus and Ming Chinese exploration eras (c. 1400–1500), as a parallel to the modern “Space Race”. Existing studies on pertinent HASS (Humanities and Social Sciences) and STEM (Science, Technology, Engineering and Mathematics) enablers, influencers and motivators are utilized in the analysis. The authors draw upon the concepts of stakeholder theory and the construct of accountability in their analysis.

Findings suggest that non-STEM considerations—politics, finance, accountability, culture, theology and others—played crucial roles in enabling Western Europe (Columbus) to reach the Americas before China or other global powers, demonstrating the pivotal importance of HASS factors in human advancements and exploration.

In seeking to answer those questions, this study identifies only those factors (HASS or STEM) that may support the success or failure in execution of the exploration and development of a region such as the New World or Space. Moreover, the study has the following limitation. Relative successes, failures, drivers and enablers of exploratory ventures are drawn almost exclusively from the documented historical records of the nations, entities and individuals (China and Europe) who conducted those ventures. A paucity of objective sources in some fields, and the need to set appropriate boundaries for the study, also necessitate such limitation.

It is observable that many of those HASS factors also appear to have been influencers in modern era Space projects. For Apollo and Soyuz, success factors such as the relative economics of USA and USSR, their political ideologies, accountabilities and organizational priorities have clear echoes. What the successful voyages of Columbus and Apollo also have in common is an appetite to take risks for an uncertain return, whether as sponsor or voyager; an understanding of financial management and benefits measurement, and a leadership (Isabella I, John F. Kennedy) possessing a vision, ideology and governmental apparatus to further the venture’s goals.

Whilst various historical studies have examined influences behind the oceangoing explorations of the 1400s and the colonization of the “New World”, this article takes an original approach of analyzing those motivations and other factors collectively, in interdisciplinary terms (HASS and STEM). This approach also has the potential to provide a novel method of examining accountability and performance in modern exploratory ventures, such as crewed space missions.

Firms are increasingly pressured to comply with mandatory supply chain transparency (SCT) regulations. Drawing on information processing theory (IPT), this study aims to show how blockchain technology can address information uncertainty and equivocality in assuring regulatory compliance in an interorganizational network (ION).

IPT is applied in a single case study of an ION in the mining industry that aimed to implement blockchain to address mandatory SCT regulations. The authors build on a rich proprietary data set consisting of interviews and substantial secondary material from actors along the supply chain.

The case shows that blockchain creates equality between actors, enables compliance and enhances efficiency in an ION, reducing information uncertainty and equivocality arising from conflict minerals regulation. The system promotes engagement and data sharing between parties while protecting commercial sensitive information. The lack of central authority prevents larger partners from taking control. The system provides mineral provenance and a regulation-compliant record. System cost analysis shows that the system is efficient as it is inexpensive relative to volumes and values of metals transacted. Issues were identified related to collecting richer human rights data for assurance and compliance with due diligence regulations.

The authors provide some of the first evidence in the operations and supply chain management literature of the specific architecture, costs and limitations of using blockchain for SCT. Using an IPT lens in an ION setting, the authors demonstrate how blockchain-based systems can address two key IPT challenges: environmental uncertainty and equivocality.

We aim to clarify the effect of economic uncertainty on Chinese stock market fluctuations. We extend the understanding of the asymmetric connectedness between economic uncertainty and stock market risk and provide different characteristics of spillovers from economic uncertainty to both upside and downside risk. Furthermore, we aim to provide the different impact patterns of stock market volatility following several exogenous shocks.

We construct a Chinese economic uncertainty index using a Factor-Augmented Variable Auto-Regressive Stochastic Volatility (FAVAR-SV) model for high-dimensional data. We then examine the asymmetric impact of realized volatility and economic uncertainty on the long-term volatility components of the stock market through the asymmetric Generalized Autoregressive Conditional Heteroskedasticity-Mixed Data Sampling (GARCH-MIDAS) model.

Negative news, including negative return-related volatility and higher economic uncertainty, has a greater impact on the long-term volatility components than positive news. During the financial crisis of 2008, economic uncertainty and realized volatility had a significant impact on long-term volatility components but did not constitute long-term volatility components during the 2015 A-share stock market crash and the 2020 COVID-19 pandemic. The two-factor asymmetric GARCH-MIDAS model outperformed the other two models in terms of explanatory power, fitting ability and out-of-sample forecasting ability for the long-term volatility component.

Many GARCH series models can also combine the GARCH series model with the MIDAS method, including but not limited to Exponential GARCH (EGARCH) and Threshold GARCH (TGARCH). These diverse models may exhibit distinct reactions to economic uncertainty. Consequently, further research should be undertaken to juxtapose alternative models for assessing the stock market response.

Our conclusions have important implications for stakeholders, including policymakers, market regulators and investors, to promote market stability. Understanding the asymmetric shock arising from economic uncertainty on volatility enables market participants to assess the potential repercussions of negative news, engage in timely and effective volatility prediction, implement risk management strategies and offer a reference for financial regulators to preemptively address and mitigate systemic financial risks.

First, in the face of domestic and international uncertainties and challenges, policymakers must increase communication with the market and improve policy transparency to effectively guide market expectations. Second, stock market authorities should improve the basic regulatory system of the capital market and optimize investor structure. Third, investors should gradually shift to long-term value investment concepts and jointly promote market stability.

This study offers a novel perspective on incorporating a Chinese economic uncertainty index constructed by a high-dimensional FAVAR-SV model into the asymmetric GARCH-MIDAS model.