Search results

There has been a burgeoning interest in exploring the impact of uncertainty factors on share returns. However, studies on the influence of global financial uncertainties on emerging market sectoral indices are scarce. Thus, there is a need to have a thorough investigation of the connection between global financial uncertainties and emerging market sectoral indices. To fill this gap, using the theoretical framework of international portfolio diversification (IPD) and utilizing data from 2008 to 2021, this study examines the spillover connection between global uncertainty indices (GUIs) and leading sectoral indices of 28 emerging markets.

The authors employ the quantile spillover-based connectedness approach and minimum connectedness portfolio approach to explore the dynamic connectedness among sectoral indices and global uncertainty indices (GUIs) as well as portfolio implication.

The study found high connectedness among all indices, especially at higher and lower quantiles. Among GUIs, the authors find that stock market volatility (VIX) and oil volatility index (OVX) are strongly interconnected with all leading emerging markets' sectoral indices. Among sectoral indices, the linkage between the financial (F-Index), information technology (IT-Index), and consumer discretionary (CD-Index) sectors shows moderate interconnectedness. In contrast, the communication services (CS-Index) sector has low interconnectedness with the system. In terms of spillover effects, the authors find EVZ, OVX, and the IT sectors to be net recipients for the entire period. The authors also explored portfolio diversification benefits by employing a minimum connectedness portfolio approach. The cumulative returns' findings show a slight decline in the portfolio's value after 2010; during 2012, the pattern remained stable; from 2014 to 2020, the portfolio performed negatively, that is, underperformance due to different events in that period, including COVID-19. The Consumer Discretionary sector is found to be significant because of having the largest weight, 51%, in the portfolio during the study period.

The study suggests that investors should invest in the communication services sector as it is the least connected. However, the connectedness increases during COVID-19, which implies that it may be difficult for investors to benefit from IPD in a crisis period. Hence, to obtain the benefits from IPD, the evidence suggests that investors need to consider Consumer Discretionary sector while considering assets for investment.

The study's uniqueness is that the authors have investigated spillover between GUIs and 28 emerging markets sectoral indices by employing a quantile spillover-based connectedness approach and minimum connectedness portfolio approach with a special focus on portfolio implication.

This study aims to investigate the moderating impact of environmental knowledge on the factors influencing individuals’ continuous intention to use e-wallets.

Using a quantitative research design, this study develops and empirically tests a structural model. A purposive sample of 344 e-wallet users in Jordan was analyzed using Smart-PLS software.

The results indicate that perceived usefulness, subjective norms and perceived behavioral control directly influence the intention to continue using e-wallets. Notably, environmental concern and environmental knowledge do not have a direct impact on continuous intention. However, they act as mediators in the relationship between perceived behavioral control and continuous intention. Specifically, environmental knowledge acts as a mediator between perceived behavioral control, subjective norms and continuous intention. Furthermore, environmental knowledge moderates the relationship between perceived behavioral control and subjective norms, significantly impacting users’ continuous intention to use e-wallets.

This study contributes to the extended theory of planned behavior model within the banking sector by emphasizing the enhanced explanatory power of environmental factors. It underscores the pivotal role of environmental knowledge as a moderator that connects determinants of e-wallet usage to continuous intention.