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Article
Publication date: 25 December 2023

Himani Gupta

Investors aim for returns when investing in stocks, making return volatility a crucial concern. This study compares symmetric and asymmetric GARCH models to forecast volatility in…

Abstract

Purpose

Investors aim for returns when investing in stocks, making return volatility a crucial concern. This study compares symmetric and asymmetric GARCH models to forecast volatility in emerging nations like the G4 countries. Accurate volatility forecasting is vital for investors to make well-informed investment decisions, forming the core purpose of this study.

Design/methodology/approach

From January 1993 to May 2021, the study spans four periods, focusing on the global economic crisis of 2008, the Russian crisis of 2015 and the COVID-19 pandemic. Standard generalized autoregressive conditional heteroscedasticity (GARCH), exponential GARCH (E-GARCH) and Glosten-Jagannathan-Runkle GARCH models were employed to analyse the data. Robustness was assessed using the Akaike information criterion, Schwarz information criterion and maximum log-likelihood criteria.

Findings

The study's findings show that the E-GARCH model is the best model for forecasting volatility in emerging nations. This is because the E-GARCH model is able to capture the asymmetric effects of positive and negative shocks on volatility.

Originality/value

This unique study compares symmetric and asymmetric GARCH models for forecasting volatility in emerging nations, a novel approach not explored in prior research. The insights gained can aid investors in constructing more effective risk-adjusted international portfolios, offering a better understanding of stock market volatility to inform strategic investment decisions.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2054-6238

Keywords

Article
Publication date: 27 August 2024

Richa Goyal, Neha Sheoran and Himani Sharma

Drawing insights from the “Substitutes for Leadership” Theory, this study intends to examine the moderating role of resilience between servant leadership (SL) and employee…

Abstract

Purpose

Drawing insights from the “Substitutes for Leadership” Theory, this study intends to examine the moderating role of resilience between servant leadership (SL) and employee engagement (EE). Particularly, relying on the issue that there are certain barriers, which hamper the effective execution of SL in the workplace, this study proposes to check that whether or not, resilience can intensify the effect of SL on EE.

Design/methodology/approach

A cross-sectional study was conducted on 241 employees working in the Indian Banking and Insurance (B&I) sector using the SPSS (v20), and the AMOS software (v21).

Findings

The study’s results revealed that SL is significantly related to EE. Also, this relationship is stronger for the employees who experience a high level of resilience, thus denoting that resilience works as a booster for SL.

Research limitations/implications

This study has certain limitations like being cross-sectional in nature and covering only B&I sector employees.

Practical implications

Since resilience helps in intensifying the effect of SL on EE, the organizational HR managers should devote efforts to make their workforce resilient.

Originality/value

This paper is the first of its kind which empirically investigated the intensifying role of resilience for SL style.

Details

Evidence-based HRM: a Global Forum for Empirical Scholarship, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-3983

Keywords

Article
Publication date: 28 November 2024

Madhuri Gandhi and Savita Ubba

The current study aims to analyze the mediating role of perceived risk from private label apparels in between the familiarity and consumer purchase intention (PI).

Abstract

Purpose

The current study aims to analyze the mediating role of perceived risk from private label apparels in between the familiarity and consumer purchase intention (PI).

Design/methodology/approach

Exploratory factor analysis and structural equation modeling techniques were utilized for evaluating the relationship between different constructs. Participants were given the opportunity for expressing their degree of approval or disapproval using a series of statements using a five-point Likert scale. For the purpose of the survey, a total of 400 participants were selected.

Findings

The finding highlights the mediating role of perceived risk between familiarity and PI of consumers toward private label apparels. When there is a mediator, the direct influence of familiarity on PI is absorbed.

Originality/value

This research aims to offer an understanding of buyer preferences in developing markets as well as providing suggestions for retailers and marketers on how to successfully promote and position private label apparel in such an environment through investigating the importance of familiarity with private label apparel. While doing so, it develops the premise that familiarity with private label apparel directly impacts perceived risk while indirectly impacting PI of consumers towards private label apparel.

Details

Asia-Pacific Journal of Business Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-4323

Keywords

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