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In what seems as an infinitely ongoing debate regarding the purchasing power parity (PPP) theory, this paper seeks to question the strength of the scientific “evidence” put forward by the PPP revisionists

In this paper, the validity of the PPP revisionists' scientific evidence supporting long‐run PPP is questioned based on the replication of an influential review study that is considered by PPP revisionists to exhibit “some of the strongest evidence” in favour of the PPP theory.

By simulation experiments it is demonstrated that the traditional PPP unit root tests are non‐robust to the empirically identified (G)ARCH distortions. Due to (G)ARCH distortions, over‐rejections for the traditional unit root tests are shown to be a problem that potentially misleads researchers to believe that long‐run PPP holds under circumstances when it is in fact not valid. As a potential remedy to this problem, a new unit root test is introduced which is robust to conditional heteroscedasticity disturbances, and in contrast to traditional unit root tests, it exhibits no significant empirical support for the PPP theory.

The study illustrates that the PPP revisionists' unit root tests cannot reliably test the PPP hypothesis in the presence of (G)ARCH distortions, due to bad power and size properties. Perhaps it is time to conclude that, based on the currently existing research, it is virtually impossible to empirically come to a credible conclusion regarding whether long‐run PPP holds or not.

One of the priorities of the health system is community health promotion. In this regards, proper development of programs and plans is needed to create a responsive system which leads to health promotion. The aim of this study was to identify the requirements for developing non-communicable disease (NCDs) programs based on CIPP (context, input, process and product) model.

This is a qualitative study. Data were collected through semi-structured interviews with 40 experienced informants in the field of NCDs. The interviewees were selected bases on pre-determined criteria which then were completed by snowball sampling. Analysis was carried out using a content analysis approach that led to identifying program development requirements in four dimensions of context, input, process and product.

Twenty-nine requirements of developing program were categorized in four domains of context, input, process and product. These requirements comprised of pilot studies, the existence of appropriate needs assessment, evidence-based programs, promoting organizational culture, adequacy of resources, identification of stakeholders and comprehensive cooperation and existence of an appropriate evaluation system.

Since this study was performed through a qualitative method, it is possible, some prerequisites of program development may not be encountered. But the extreme effort has been made to perceive diversity and different aspects.

The first study was in the field of appropriate requirements for program development in the context of a centralized health system in a developing country.

The aim of this study is to compare volatility persistence with daily volatility and to analyze the asymmetry effect of volatilities in stock markets of emerging economies. Using daily observations of stock market indices of selected major emerging countries during the period of January 1, 2002 to December 31, 2018, the authors estimate the persistence, the half-life measure of volatility and the daily volatility of the return series using the GARCH model application. The authors also examine the leverage effect on stock market returns using the EGARCH model estimation. In addition, the authors investigate the impact of the 2008 global financial crisis on various volatility measures and the leverage effect of emerging stock market returns. The authors then examine and compare the different speeds of mean reversion, volatility persistence and leverage effects in the national stock market indices during the pre-crisis, crisis, and post-crisis periods. The authors hereby present evidence that the effects of negative shocks are significantly larger than those of positive shocks in emerging stock markets throughout their different sample periods.

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.

The purpose of this paper is to estimate volatility in African stock markets (ASMs), taking account of periodic level shifts in the mean level of volatility, where the regime shifts are determined endogenously.

Volatility estimates are incorporated into standard volatility models to assess the impact of structural breaks on volatility persistence, long memory and forecasting performance for ASMs.

The results presented here indeed suggest that persistence and long memory in volatility are overestimated when regime shifts are not accounted for. In particular, application of breakpoint tests and a moving average procedure suggest that unconditional volatility displays substantial time variation.

A modification of the standard generalised autoregressive conditional heteroscedasticity model to allow for time variation in the unconditional variance generates improved volatility forecasting performance for some African markets.

This paper describes one of the first studies to incorporate endogenously determined regime shifts into volatility estimates and assess the impact of structural breaks on volatility persistence, long memory and forecasting performance for ASMs.

This research paper aims to analyze the stock exchanges of developed, emerging and developing countries to investigate the volatility in stock markets and to evaluate the rate of mean reversion.

The stock exchanges included in the research are NASDAQ, Tokyo stock exchange, Shanghai stock exchange, Bombay stock exchange, Karachi stock exchange and Jakarta stock exchange. Secondary daily data from Bloomberg are used to conduct the research for the period from January 2011 to December 2018. Generalized autoregressive conditional heteroskedasticity (GARCH) (1,1) model was applied to examine volatility and the half-life formula was used to calculate mean reversion in days.

The research concluded that all the stock exchanges included in the research satisfy the assumptions of mean reversion. Developing countries have the lowest volatility while emerging countries have the highest volatility which means that the rate of mean reversion is fastest in developing countries and slowest in emerging countries.

Future studies can determine the reasons for fastest rate of mean reversion in developing countries and slowest rate of mean reversion in emerging countries.

Developing countries show the lowest mean reversion in days while the emerging countries show the highest mean reversion in days indicating that developing countries take less time to revert to their mean position.

The majority of previous studies on univariate volatility models are mostly on applications of the models. Only a few researchers have taken the robustness of the models into account when applying them in emerging countries and not in developed, developing and emerging countries in one place. This makes the current study unique and more rigorous.

ARCH models can be used to predict volatility and to enhance option pricing methodologies. A guide to these models is provided and illustrative results are presented for the prices of Shell stock traded in London.

This paper defines the newly emerging concept of knowledge management. The topics presented include: principles and practices of knowledge management, organization, distribution, dissemination, collaboration and refinement of information, and the effect on productivity and quality in business today. The technical applications and tools currently utilized within this discipline are also discussed. Case studies are included on the following firms: Teltech, Ernst & Young, Microsoft, and Hewlett Packard. These are analyzed to determine the effect knowledge management practices have on quality improvement and increased productivity. The authors have included a recommended strategy for implementation of knowledge management “best practices”. Finally, conclusions are drawn regarding the strategic direction of this new discipline and its effect on competition, productivity and quality for the business of tomorrow.

This study aims to synthesize the body of sustainable value creation (SVC) research within sustainable business model literature through a systematic literature review.

A systematic literature review of 85 research articles of SVC through business models from 2011 to 2020.

The systematic literature review allowed the authors to identify five core SVC elements: value forms, stakeholders, temporal view, spatial view and tensions and conflicts. Moreover, a conceptual framework presenting the interrelationships of the SVC elements is proposed.

This study carries implications for practitioners in the form of guiding questions provided in the framework. Those questions help responsible managers to plan, identify and choose strategic sustainability actions and to develop companies’ business models aiming to lead to the creation of long-term sustainable value in different time frames and locations or different parts of the value network. Additionally, the framework guides managers to identify and manage potential tensions and conflicts which can otherwise hinder SVC.

To the best of the authors’ knowledge, this study is the first systematic literature review of SVC through business models with the conceptual development of SVC. The study synthesizes the fragmented literature to identify SVC elements and build basis for conceptualization of SVC through business models.