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Open Access
Article
Publication date: 15 March 2024

Mohammadreza Tavakoli Baghdadabad

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

Abstract

Purpose

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

Design/methodology/approach

We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.

Findings

We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Originality/value

We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

Details

China Accounting and Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1029-807X

Keywords

Article
Publication date: 21 November 2023

Armin Mahmoodi, Leila Hashemi and Milad Jasemi

In this study, the central objective is to foresee stock market signals with the use of a proper structure to achieve the highest accuracy possible. For this purpose, three hybrid…

Abstract

Purpose

In this study, the central objective is to foresee stock market signals with the use of a proper structure to achieve the highest accuracy possible. For this purpose, three hybrid models have been developed for the stock markets which are a combination of support vector machine (SVM) with meta-heuristic algorithms of particle swarm optimization (PSO), imperialist competition algorithm (ICA) and genetic algorithm (GA).All the analyses are technical and are based on the Japanese candlestick model.

Design/methodology/approach

Further as per the results achieved, the most suitable algorithm is chosen to anticipate sell and buy signals. Moreover, the authors have compared the results of the designed model validations in this study with basic models in three articles conducted in the past years. Therefore, SVM is examined by PSO. It is used as a classification agent to search the problem-solving space precisely and at a faster pace. With regards to the second model, SVM and ICA are tested to stock market timing, in a way that ICA is used as an optimization agent for the SVM parameters. At last, in the third model, SVM and GA are studied, where GA acts as an optimizer and feature selection agent.

Findings

As per the results, it is observed that all new models can predict accurately for only 6 days; however, in comparison with the confusion matrix results, it is observed that the SVM-GA and SVM-ICA models have correctly predicted more sell signals, and the SCM-PSO model has correctly predicted more buy signals. However, SVM-ICA has shown better performance than other models considering executing the implemented models.

Research limitations/implications

In this study, the data for stock market of the years 2013–2021 were analyzed; the long length of timeframe makes the input data analysis challenging as they must be moderated with respect to the conditions where they have been changed.

Originality/value

In this study, two methods have been developed in a candlestick model; they are raw-based and signal-based approaches in which the hit rate is determined by the percentage of correct evaluations of the stock market for a 16-day period.

Details

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

Keywords

Article
Publication date: 2 November 2023

Majid Ghasemy and Lena Frömbling

Guided by the affective events theory (AET), the purpose of this paper was to explore the impact of interpersonal trust in peers, as an affective work event, on two affect-driven…

Abstract

Purpose

Guided by the affective events theory (AET), the purpose of this paper was to explore the impact of interpersonal trust in peers, as an affective work event, on two affect-driven behaviors (i.e. job performance and organizational citizenship behavior toward individuals [OCBI]) via positive affect during the Covid-19 pandemic, particularly in the Asia–Pacific region.

Design/methodology/approach

This study is quantitative in approach, and longitudinal survey study in design. The authors collected data from lecturers in 2020 at the beginning, at the end and two months after the first Covid-19 lockdown in Malaysia. Then, the authors utilized the efficient partial least squares (PLSe2) estimator to investigate the relationships between the variables, while also considering gender as a control variable.

Findings

The findings show that positive affect fully mediates the relationship between interpersonal trust in peers and job performance and partially mediates the relationship between interpersonal trust in peers and OCBI. Given that gender did not demonstrate any significant relationships with interpersonal trust in peers, positive affect, job performance and OCBI, the recommended policies can be universally developed and applied, irrespective of the gender of academics.

Originality/value

This research contributes originality by integrating the widely recognized theoretical framework of AET and investigating a less explored context, specifically the Malaysian higher education sector during the challenging initial phase of the Covid-19 pandemic. Furthermore, the authors adopt a novel and robust methodological approach, utilizing the efficient partial least squares (PLSe2) estimator, to thoroughly examine and validate the longitudinal theoretical model from both explanatory and predictive perspectives.

Details

International Journal of Productivity and Performance Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0401

Keywords

Open Access
Article
Publication date: 28 March 2024

Travis Fried, Anne Victoria Goodchild, Ivan Sanchez-Diaz and Michael Browne

Despite large bodies of research related to the impacts of e-commerce on last-mile logistics and sustainability, there has been limited effort to evaluate urban freight using an…

Abstract

Purpose

Despite large bodies of research related to the impacts of e-commerce on last-mile logistics and sustainability, there has been limited effort to evaluate urban freight using an equity lens. Therefore, this study proposes a modeling framework that enables researchers and planners to estimate the baseline equity performance of a major e-commerce platform and evaluate equity impacts of possible urban freight management strategies. The study also analyzes the sensitivity of various operational decisions to mitigate bias in the analysis.

Design/methodology/approach

The model adapts empirical methodologies from activity-based modeling, transport equity evaluation, and residential freight trip generation (RFTG) to estimate person- and household-level delivery demand and cargo van traffic exposure in 41 U.S. Metropolitan Statistical Areas (MSAs).

Findings

Evaluating 12 measurements across varying population segments and spatial units, the study finds robust evidence for racial and socio-economic inequities in last-mile delivery for low-income and, especially, populations of color (POC). By the most conservative measurement, POC are exposed to roughly 35% more cargo van traffic than white populations on average, despite ordering less than half as many packages. The study explores the model’s utility by evaluating a simple scenario that finds marginal equity gains for urban freight management strategies that prioritize line-haul efficiency improvements over those improving intra-neighborhood circulations.

Originality/value

Presents a first effort in building a modeling framework for more equitable decision-making in last-mile delivery operations and broader city planning.

Details

International Journal of Physical Distribution & Logistics Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0960-0035

Keywords

Article
Publication date: 5 February 2024

Nikita Dhankar, Srikanta Routroy and Satyendra Kumar Sharma

The internal (farmer-controlled) and external (non-farmer-controlled) factors affect crop yield. However, not a single study has identified and analyzed yield predictors in India…

Abstract

Purpose

The internal (farmer-controlled) and external (non-farmer-controlled) factors affect crop yield. However, not a single study has identified and analyzed yield predictors in India using effective predictive models. Thus, this study aims to investigate how internal and external predictors impact pearl millet yield and Stover yield.

Design/methodology/approach

Descriptive analytics and artificial neural network are used to investigate the impact of predictors on pearl millet yield and Stover yield. From descriptive analytics, 473 valid responses were collected from semi-arid zone, and the predictors were categorized into internal and external factors. Multi-layer perceptron-neural network (MLP-NN) model was used in Statistical Package for the Social Sciences version 25 to model them.

Findings

The MLP-NN model reveals that rainfall has the highest normalized importance, followed by irrigation frequency, crop rotation frequency, fertilizers type and temperature. The model has an acceptable goodness of fit because the training and testing methods have average root mean square errors of 0.25 and 0.28, respectively. Also, the model has R2 values of 0.863 and 0.704, respectively, for both pearl millet and Stover yield.

Research limitations/implications

To the best of the authors’ knowledge, the current study is first of its kind related to impact of predictors of both internal and external factors on pearl millet yield and Stover yield.

Originality/value

The literature reveals that most studies have estimated crop yield using limited parameters and forecasting approaches. However, this research will examine the impact of various predictors such as internal and external of both yields. The outcomes of the study will help policymakers in developing strategies for stakeholders. The current work will improve pearl millet yield literature.

Details

Journal of Modelling in Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5664

Keywords

Article
Publication date: 28 November 2023

Angelina De Pascale, Maurizio Lanfranchi, Raffaele Zanchini, Carlo Giannetto, Mario D'Amico and Giuseppe Di Vita

In recent years, the global consumption of craft beer witnesses remarkable growth. This growth is attributed to the evolving demographics of beer consumers, particularly the…

Abstract

Purpose

In recent years, the global consumption of craft beer witnesses remarkable growth. This growth is attributed to the evolving demographics of beer consumers, particularly the emergence of a new generation known as Digitarians or Generation Z. This study aims to analyze the key determinants influencing craft beer consumption among Digitarians.

Design/methodology/approach

An online questionnaire is administered, and a total of 296 completed responses are included in the statistical analysis. The methodology uses logistic regressions combined with a backward selection process and variance inflation factor analysis to address multicollinearity. The logistic regressions are conducted in three steps to delve into the research objective and gain insights into the behavior of young consumers. The stepwise backward selection aids in obtaining robust coefficients as a variable selection tool.

Findings

The results shed light on how Digitarians’ preferences for craft beer are influenced by various factors, including self-perceived knowledge, alcohol content, gender, food pairings, environment and companionship.

Originality/value

To the best of the authors’ knowledge, this paper contributes novel insights by being the first study to explore the significance of craft beer choices among Digitarians, identifying the role of several predictors in their consumption patterns.

Details

International Journal of Wine Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1751-1062

Keywords

Article
Publication date: 17 October 2023

Smriti Prasad and Manesh Choubey

The paper identifies the influence of socio-economic factors and livelihood training in stimulating micro-entrepreneurship among women self-help group (SHG) members.

Abstract

Purpose

The paper identifies the influence of socio-economic factors and livelihood training in stimulating micro-entrepreneurship among women self-help group (SHG) members.

Design/methodology/approach

The study is based on a sample of 416 women SHG members drawn from all the four districts of Sikkim using cluster sampling procedure. A multivariate binary logistic model is used to find the impact of socio-economic factors, and a Poisson regression has been used to find the impact of training on fostering micro-entrepreneurship. The result is validated using a propensity score matching approach which corrects for the potential self-selection bias in the sample. Subsequently, a covariate adjustment estimator verifies the robustness of the approach.

Findings

The study finds that “size of landownership”, “amount of loan borrowed”, “member's age”, “number of earning and dependent members”, “number of years of SHG enrolment” as well as the “district to which the member belongs to” have a statistically significant influence on the graduation of SHG members to micro-entrepreneurs. Furthermore, it is found that members attending the livelihood training programmes had a significantly higher number of microenterprises.

Originality/value

The study differentiates itself by providing empirical evidence on how socio-economic factors and livelihood training stimulate micro-entrepreneurship among SHG women of Sikkim, which has so far remained unexplored. Moreover, advanced econometric method has been used to eliminate the possible self-selection bias involved with training participation and thereby provides reliable and robust results.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2023-0070

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 13 March 2024

Christian Ehiobuche

The effect of vicarious learning during clinical or medical internships on graduates' adaptive career behaviours has attracted scant attention from healthcare researchers…

Abstract

Purpose

The effect of vicarious learning during clinical or medical internships on graduates' adaptive career behaviours has attracted scant attention from healthcare researchers, particularly, in the developing world context. Drawing upon the social cognitive career theory model of career self-management (SCCT-CSM), the current study examines how vicarious learning influences the clinical graduates' adaptive career behaviours (i.e. career exploration and decision-making) via career exploration and decision-making self-efficacy (CEDSE) and career intention.

Design/methodology/approach

Data were collected from 293 nursing graduates undertaking clinical internships in 25 hospitals across Nigeria who willingly participated in this study as they were also assured of confidentiality at two-waves. The proposed hypotheses were tested using a path analysis.

Findings

The findings showed that vicarious learning during clinical internship had a direct effect on career exploration, decision-making and career decision self-efficacy among graduate trainees. Also, the findings revealed that the effects of vicarious learning on the graduates' career exploration and career decision-making were significantly mediated by career decision self-efficacy and career intentions.

Practical implications

The findings of this study have important practical implications for higher education institutions and industries that send and receive clinical graduates for clinical internships to gain more skills. More emphasis should be on encouraging learners to learn vicariously in addition to other forms of learning experiences available during clinical internships.

Originality/value

The study explains that the graduates' higher engagement in clinical career exploration and decision-making was based on a higher level of vicarious learning during internships. The results suggest that higher education institutions and healthcare service providers can derive greater benefits from more emphasis on promoting vicarious learning during clinical internships.

Details

Higher Education, Skills and Work-Based Learning, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-3896

Keywords

Open Access
Article
Publication date: 8 December 2023

Armin Mahmoodi, Leila Hashemi, Amin Mahmoodi, Benyamin Mahmoodi and Milad Jasemi

The proposed model has been aimed to predict stock market signals by designing an accurate model. In this sense, the stock market is analysed by the technical analysis of Japanese…

Abstract

Purpose

The proposed model has been aimed to predict stock market signals by designing an accurate model. In this sense, the stock market is analysed by the technical analysis of Japanese Candlestick, which is combined by the following meta heuristic algorithms: support vector machine (SVM), meta-heuristic algorithms, particle swarm optimization (PSO), imperialist competition algorithm (ICA) and genetic algorithm (GA).

Design/methodology/approach

In addition, among the developed algorithms, the most effective one is chosen to determine probable sell and buy signals. Moreover, the authors have proposed comparative results to validate the designed model in this study with the same basic models of three articles in the past. Hence, PSO is used as a classification method to search the solution space absolutelyand with the high speed of running. In terms of the second model, SVM and ICA are examined by the time. Where the ICA is an improver for the SVM parameters. Finally, in the third model, SVM and GA are studied, where GA acts as optimizer and feature selection agent.

Findings

Results have been indicated that, the prediction accuracy of all new models are high for only six days, however, with respect to the confusion matrixes results, it is understood that the SVM-GA and SVM-ICA models have correctly predicted more sell signals, and the SCM-PSO model has correctly predicted more buy signals. However, SVM-ICA has shown better performance than other models considering executing the implemented models.

Research limitations/implications

In this study, the authors to analyze the data the long length of time between the years 2013–2021, makes the input data analysis challenging. They must be changed with respect to the conditions.

Originality/value

In this study, two methods have been developed in a candlestick model, they are raw based and signal-based approaches which the hit rate is determined by the percentage of correct evaluations of the stock market for a 16-day period.

Details

Journal of Capital Markets Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-4774

Keywords

Article
Publication date: 3 August 2023

Ali Sajedikhah, Hossein Rezaei Dolatabadi and Arash Shahin

This study aims to investigate the extent and pattern of the influence of one of the most important decision-making tools in the context of social commerce. This study…

Abstract

Purpose

This study aims to investigate the extent and pattern of the influence of one of the most important decision-making tools in the context of social commerce. This study demonstrates how much customer testimonials (including verified purchases and ordinary users) can influence the sales rank of experience and search goods.

Design/methodology/approach

The data were collected by text mining and performing a content analysis on the XML documents of Web pages and processing them. For search goods, 22,311 opinions were recorded regarding 95 mobile phones. Additionally, for experience goods, 67,817 opinions were recorded regarding 162 books in the Amazon online store. The data were analyzed by functional regression method in longitudinal data analysis.

Findings

In terms of importance, the opinions and recommendations of verified purchases had a 60% greater impact on the sales rank of experience goods than the opinions and recommendations of ordinary users. In search goods, the opinions of ordinary users had a greater impact than the opinions of verified purchases. The historical effect of the opinions of ordinary users at the end of the review period on sales rank was evident, while the historical effect of the verified purchase viewpoints during the review period had a nonlinear curve. The results showed that it was necessary to increase the volume of comments to increase their reliability in experience goods.

Practical implications

Measuring the effect of customer testimonials helps the managers of retail websites design algorithms and online suggestion systems, thereby improving the sales of their products by providing information desired by customers.

Social implications

Individuals can be a source of information and influence the buying decision process of others by sharing their experiences. This issue helps reduce the purchase risk and explains the importance of interaction and sharing the customer’s experience.

Originality/value

Analyzing the impact of customer testimonials by separating verified purchases and ordinary users is one of the advantages of this study. The quantitative estimation of the impact of recommendations and the provision of a model of their historical effect is one of the approaches not addressed in similar studies.

Details

Competitiveness Review: An International Business Journal , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1059-5422

Keywords

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