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The paper provides new evidence for Bitcoin’s safe-haven property by examining the relationship between currency price, return and Bitcoin trading volume.

A unique dataset from a person-to-person (p2p) exchange is used to investigate association between Bitcoin trading volume and currency prices. Currency returns are used to identify local economic crises, the 8 crisis affected currencies are Venezuela Bolivar (VES), Iranian Rial (IRR), Ukrainian Hryvnia (UAH), Argentine Peso (ARS), Egyptian Pound (EGP), Nigerian Naira (NGN), Turkish Lira (TRY) and Kazakhstani Tenge (KZT).

The paper demonstrates that local economic crises are positively associated with increased Bitcoin trading. There is a negative association between trading volume and currency value (and return), suggesting low currency price and currency depreciation are accompanied with increased Bitcoin trading. The results not only hold for the crisis affected currencies but also currencies of advanced economies. Granger causality test also reinforces the negative association results.

The finding indicates some forms of flight-to-safety have occurred during local market crises when capital flight from domestic markets to Bitcoin, strengthening Bitcoin’s hedging asset status. However, total global trading volume declines after the start of the COVID pandemic, suggesting that Bitcoin is still regarded as a speculative asset. Overall, the findings show that Bitcoin is a hedging asset to protect against local currency depreciation, but not a safe-haven asset for the global crisis.

This paper aims to study the dynamics of bitcoin prices in Brazil, a large emerging economy with an unregulated bitcoin market.

First, this study tests if the Law of One Price (LOOP) is valid for bitcoin prices in Brazil, conducting tests with data from three Brazilian exchanges. Next, this study documents bitcoin price dynamics in the short run by studying the price discovery mechanism in these exchanges. This study uses Information Share and Component Share, combining the two measures to obtain an Information Leadership Share (ILS) measure.

This study finds a common trend within bitcoin prices among a set of exchanges, with cointegration tests between the price series indicating that LOOP is valid in Brazilian markets in the long run. ILS indicated that, for closing prices, the most liquid exchange (Foxbit) leads discovery, whereas the least liquid (Local Bitcoin) lags, with Mercado Bitcoin in the middle both in terms of discovery and liquidity. Finally, this study provides evidence that the price variation in the market that leads price discovery can be used to construct an arbitrage in another exchange.

This research brings the first evidence of a price discovery mechanism for exchanges in Brazilian Reais. Although LOOP is valid in the long run, price leadership in bitcoin markets potentially create arbitrage opportunities in the short run. This study contributes to the growing literature of bitcoin prices with novel evidence from a large emerging economy.

It has been known, for at least 80 years, that micro‐organisms existed which have the capability of attacking aliphatic and aromatic hydro‐carbon materials; it has only been in the last decade that any attempt has been made to exploit the practical implications of the earlier work. Now that the attention of the metal‐working industries has been drawn to the economic and hygienic consequences of bacterial and fungal infections, the subject is beginning to attract the attention that it deserves.

Propagation of planar (i.e. one directional), longitudinal (i.e. uniaxial strain), steady (i.e. time‐invariant) structured shock waves within metal matrix composites (MMCs) is studied computationally. Waves of this type are typically generated during blast‐wave loading or ballistic impact and play a major role in the way blast/ballistic impact loads are introduced in, and applied to, a target structure. Hence, the knowledge of the basic physics of propagation of these waves is critical for designing structures with superior blast and impact protection capabilities. The purpose of this paper is to help advance the use of computational engineering analyses and simulations in the areas of design and application of the MMC protective structures.

To derive the overall response of the composite material to shock type loading, a dynamic‐mixture model is employed. Within this model, the known constitutive responses of the constituent materials are combined using the appropriate mixture rules. These mixture rules are of a dynamic character since they depend on the current state of the composite material and cannot be applied prior to the beginning of the analysis.

The approach is applied to a prototypical MMC consisting of an aluminum matrix and SiC particulates. Both the intermediate‐to‐strong shock regime (in which the contribution of stress deviators to the stress field can be ignored) and the weak shock regime (in which stress deviators provide a significant contribution to the stress field) are investigated. Finally, the computational results are compared with their experimental counterparts available in the open literature in order to validate the computational procedure employed.

Prediction of the spallation‐type failure in a metal‐matrix composite material (modeled using the dynamic‐mixture model) has not been done previously.

The purpose of this paper is to estimate time‐varying conditional volatility, and examine the extent to which trading volume, as a proxy for information arrival, explain the persistence of futures market volatility using National Stock Exchange S&P CRISIL NSE Index Nifty index futures.

To estimate the volatility and capture the stylized facts of fat‐tail distribution, volatility clustering, leverage effect, and mean‐reversion in futures returns, appropriate ARMA‐generalized autoregressive conditional heteroscedastic (GARCH) and ARMA‐EGARCH models with generalized error distribution have been used. The ARMA‐EGARCH model is augmented by including contemporaneous and lagged trading volume to determine their contribution to time‐varying conditional volatility.

The paper finds evidence of leverage effect, which indicates that negative shocks increase the futures market volatility more than positive shocks of the same magnitude. In addition, the results indicate that inclusion of both contemporaneous and lagged trading volume in the GARCH model reduces the persistence in volatility, but contemporaneous volume provides a greater reduction than lagged volume. Nevertheless, the GARCH effect does not completely vanish.

Research findings have important implications for the traders, regulatory bodies, and practitioners. A positive volume‐price volatility relationship implies that a new futures contract will be successful only to the extent that there is enough price uncertainty associated with the underlying asset. Higher trading volume causes higher volatility; so, it suggests the need for greater regulatory restrictions.

Equity derivatives are relatively new phenomena in Indian capital market. This paper extends and updates the existing empirical research on the relationship between futures price volatility and volume in the emerging Indian capital market using improved methodology and recent data set.

The shock absorber is an important component of vehicle suspension that attenuates the vehicle vibration. Its running state directly affects the performance of the vehicle suspension. The purpose of this paper is to quantitatively study the relationship between damping characteristics and air chamber and oil properties in single-tube pneumatic shock absorber.

Combined with the principle of fluid dynamics and hydraulic transmission technology, the rebound stroke and compression stroke mathematical models, and damping characteristics simulation model are established to investigate the effect of the air chamber and oil property on damping characteristics.

Research results show that the initial pressure of the air chamber is the key parameter which influences the damping characteristics of the shock absorber. The change of the initial pressure has more impact on damping force, and less impact on the speed characteristic; the initial volume of the air chamber almost has no effect on the damping characteristics. The density and viscosity of the oil have certain influence on the damping characteristics. Therefore, selecting suitable damping oil is very important.

Using Matlab/Simulink software to build simulation models, its results are very accurate. The conclusions can provide a theoretical reference for the structure design of a single-tube pneumatic shock absorber.

The purpose of this paper is to compare the short‐term trading behaviour of A shares owned by domestic investors and their dually‐traded B shares owned by foreign investors, after a period of significant price change.

Given that the fundamentals of A and B shares are the same, the paper tests the hypothesis that both types of stocks should behave homogeneously either by exhibiting a momentum behaviour or an over‐reaction pattern. The paper relates any deviations in post‐shock stock returns to the differences in the trading patterns of foreign relative to domestic investors.

While the prices of the A shares are relatively random after the event, those of the B shares carry on increasing significantly after both positive and negative shocks. This trend is more pronounced for large firms with high liquidity, in contrast to the efficient market hypothesis expectations, which suggests that any abnormal performance should be arbitraged away sooner in a frictionless (in this case liquid) market.

The paper relates these results to the high level of optimism of foreign investors, which is an under‐researched area in behaviour finance.

The purpose of this paper is to examine the short horizon stock behavior following large price shocks in the Indian stock market.

The author followed the methodology developed by Pritamani and Singhal (2001) to the short horizon stock behavior following large price shocks. Multivariate regression has also been used to test the robustness of the evidenced results.

The abnormal return following large one-day price changes were not found to be important. However, large price one-day changes, conditioned with volume, evidenced significant reversals and momentum over the following 20-day period. Large price changes accompanied by low volume exhibited significant reversals and suggests significant economic profits. The large price changes accompanied by high volume exhibited continuations.

Large price changes accompanied by low volume exhibited significant reversals and suggested significant economic profits. The large price changes with high volume exhibited continuations. The contrarian strategy of buying low-volume one-day losers and selling one-day winners produced significant short horizon economic profits in the Indian stock market directly contradicting the efficient market hypothesis and has behavioral implications.

In this paper, the author has unearthed significant simple profitable trading strategies based on reversals and continuation following large one-day price changes with potential for significant economic profits.

This paper provides a practical framework for profitable trading strategies based on reversals and continuation following large one-day price changes with a potential for significant economic profits. The analysis of short horizon stock behavior following large price shocks conditional on volume based on the chosen methodology has not been attempted so far in the Indian stock market.

This study disentangles the investor-base effect and the information effect of investor attention. The former leads to a larger investor base and higher stock returns, while the latter facilitates the dissemination of information among investors and impacts informational trading.

Using positive volume shocks as a proxy for increased investor attention, this study evaluates the impacts of the investor-base effect and the information effect of investor attention on market correction following extreme daily returns in the US stock market from 1966 to 2018.

This study finds that the investor-base effect increases subsequent returns of both daily winner and daily loser stocks. The information effect leads to economically less significant return reversals for both the daily winner and daily loser stocks. These two effects tend to have economically more significant impacts on the daily loser stocks. The economic significance of these two effects is also related to firm size and the state of the stock market.

This study is the first to disentangle the investor-base effect and the information effect of increased investor attention. The evidence that the information effect facilitates the dissemination of new information and impacts stock returns contributes to the strand of studies on the impact of investor attention on market efficiency. This evidence also contributes to the strand of studies analyzing the impact of informational trading on stock returns. In addition, this study provides evidence for market overreaction and the subsequent correction. The results for up and down markets contribute to the literature on the investors' trading behavior.

The puzzle of hot and cold issue markets has attracted substantial interest in the academic community. The behavior of IPO volume and initial returns over time is well documented. Few studies, however, investigate the dynamic interrelationship between these two variables. This paper aims to fill this gap. In addition, the technological innovations hypothesis of hot issue markets is tested. Welch and Hoffmann‐Burchardi suggest that the clustering of new issues is caused by IPO volume spikes in industries that have recently experienced technological innovations or favorable productivity shocks.

This paper employs a sample of 8,160 initial public offerings filed in the USA between January 1972 and December 2001. A simultaneous equation approach is used to examine the endogenous relationship between IPO volume and initial returns. In addition, the paper analyzes the industry correlation matrix of new issue activity and estimates a fixed‐effects model based on industry‐level data to examine the impact of technological innovations on new issue activity.

It is found that higher IPO volume causes higher initial returns, but not vice versa. In addition, evidence is found against the technological innovations hypothesis. The findings suggest that economy‐wide rather than industry‐specific factors are responsible for the observed variations in IPO volume.

As with any empirical study, the results may be sample‐specific.

The paper extends the prior literature on the relationship between IPO volume and initial returns by applying two‐stage and three‐stage least squares models that go beyond prior methodological approaches used in the extant literature. In addition, the paper provides some of the first empirical evidence on the effect of technological innovations and productivity shocks on IPO activity.