Anindita Bhattacharjee, Neeru Sidana, Richa Goel, Anagha Shukre and Tilottama Singh
The study will add to the current discourse on the Israel-Hamas conflict by examining the impact of the war on the stock markets of trading partners. Stock market returns…
Abstract
Purpose
The study will add to the current discourse on the Israel-Hamas conflict by examining the impact of the war on the stock markets of trading partners. Stock market returns inevitably rise as globalization keeps integrating financial markets and economies around the world. Thus, the impact of war is assessed across a range of indicators that are similar in some way, such as geographic location, political climate or economic standing. Thus, the goal of this study is to investigate how the Israel-Hamas war affects trading partner countries' stock performance.
Design/methodology/approach
Event study methodology is applied using Morgan Stanley Capital Index (MSCI) as a benchmark index. The influence of the Israel-Hamas war on the world's major stock markets is evaluated using a market model. The study takes into account Israel and its 23 trading partners. To capture the locational asymmetry in the outcome, the countries are further categorized according to their geographic locations. The official declaration of war came on October 7, 2023, a non-trading day. Consequently, October 9, 2023, is designated as the event day in this study. The data was gathered between January 1, 2023, and December 31, 2023, with an estimation period of 140 days taken into account to minimize bias.
Findings
Asymmetric response is shown among the nations due to their economic standing, geographic proximity and trading links with Israel. While Austria, Greece, Egypt, Palestine and Israel had the greatest negative effects, Argentina, Japan and Chile saw significant beneficial effects. The remaining nations had little effect. The market quickly adjusted itself, eliminating anomalous returns.
Research limitations/implications
Taking into account the topic's criticality, the current work has certain limits. The study has used the daily data to limit its reach to the stock market exclusively. In the future, academics can combine high-frequency stock market data with data from other macroeconomic variables, such as currency or different commodities markets, to further their research. Furthermore, a cross-national comparison of the impact in terms of direction and intensity regarding developing global groups such as I2U2, LEVANT, BRICS, MIKTA, SCO, NATO, SAARC and OECD can provide a more comprehensive understanding in this context. To gain insight into the durability and adaptation of financial systems over time, longitudinal studies could be conducted to monitor the long-term effects of geopolitical crises on the stock markets of trading partner countries.
Practical implications
By better managing investment portfolios and evaluating potential risks associated with trading partners involved in such conflicts, investors and businesses can lessen the impact of geopolitical tensions on stock market performance. These results contribute to our understanding of how geopolitical conflicts affect stock markets.
Originality/value
This research provides an extensive analysis of the global impact of Israel-Hamas tensions on stock market volatility by taking into account trading partners. This allows for the investigation of how various market structures and economic systems react to geopolitical turmoil. The present study is one of the first attempts to look into how disturbances in one region might affect continents to better understand the dynamics of global trade and economic interdependencies.
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Nassir Ul Haq Wani, Bibi Sarah Majidi, Neeru Sidana and Richa Goel
Women's empowerment is nothing new; it has been acknowledged as an essential element of eradicating poverty and advancing the economy. However, it remains problematic in most…
Abstract
Women's empowerment is nothing new; it has been acknowledged as an essential element of eradicating poverty and advancing the economy. However, it remains problematic in most developing countries, such as Afghanistan. This research evaluates women's empowerment experiences by utilising Self-Help Groups (SHGs) as a fundamental development method to empower women economically and socially. This study adopts a qualitative research style, with data mainly acquired from rural areas (Kabul province). The findings indicated that SHG involvement is closely associated with families' socio-economic well-being, meaning that SHG participants are more empowered than those who do not engage or are oblivious to SHGs. SHGs confront various obstacles in Afghanistan, including (but not limited to) erroneous cultural norms, security issues, inadequate financial assistance and poor member participation, all of which influence operations. This study makes important recommendations for promoting and achieving women's integration and active participation in SHGs, including increasing social awareness, support from civil society and the government, laws and regulations that support women, strategies to increase women's economic and social empowerment and linking groups to commercial banks.
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The 2030 Agenda for Sustainable Development underscores eradicating global poverty (Goal#1) and empowering women and girls (Goal#5) to foster sustainable, inclusive communities…
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The 2030 Agenda for Sustainable Development underscores eradicating global poverty (Goal#1) and empowering women and girls (Goal#5) to foster sustainable, inclusive communities (Goal#11). The World Bank recognises female entrepreneurship as a catalyst for global economic growth, poverty reduction and gender equity. This chapter delves into the challenges hindering female entrepreneurship, obstructing poverty alleviation and community sustainability efforts worldwide. Public–private collaborations are crucial to support women in launching start-ups, adopting new technologies, enhancing digital skills and accessing financing in the era of Industry 4.0.
Our focus is on women entrepreneurship in BRICS nations due to their diverse growth trajectories and global economic significance. Employing a qualitative approach, we analyse public and private initiatives promoting female entrepreneurship in BRICS countries. Our findings highlight both commonalities and distinctions in their strategies and policies, implicitly contributing to poverty reduction and social and economic growth. This chapter not only identifies barriers faced by women entrepreneurs but also underscores factors fuelling their ventures. It offers a practical toolkit for scholars, policymakers and practitioners (entrepreneurs and consultants) to devise tailored strategies and actions for local growth and intervention. The study comprises four parts: the introduction, setting the chapter's goal and previewing outcomes; the second part, exploring female entrepreneurship as a key to poverty alleviation and community sustainability; the core, the third part, unveiling in-depth BRICS country analysis; and the conclusion, summarising implications and highlighting avenues for further research.
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Vijay D. Joshi, Sukanta Kumar Baral and Manish M. Pitke
India is one of the world's largest exporters of products and services. Given the outstanding contribution of services in India's foreign trade, this study examines the changing…
Abstract
India is one of the world's largest exporters of products and services. Given the outstanding contribution of services in India's foreign trade, this study examines the changing international trade pattern for India. It is a nation that is heavily dependent on imports and exports. This study examines the changing international trade pattern for India with the existence of certain global disruptions. The analysis highlights a growing trade surplus in services and an increasing trade deficit (i.e. imports higher than exports) in goods. India needs to have policies in place to emerge as a strong economy in this post-pandemic era. This chapter provides a set of examples based on the research findings. The research suggests that the growing economy and supportive government policies offer greater opportunities for the country in the longer period if urgent policy initiatives and support are extended to existing and potential manufacturing and services sectors. It ultimately seeks to highlight key opportunities, challenges and suggestions to protect and promote India's international trade.
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Sudhansu Sekhar Nanda, Anindita Das and D. D. Tewari
The poverty rate in India is still very high despite considerable economic reforms over the past 20 years and a rapid decline in that rate. Even if the accomplishments have…
Abstract
The poverty rate in India is still very high despite considerable economic reforms over the past 20 years and a rapid decline in that rate. Even if the accomplishments have received much praise, it is crucial to comprehend the dynamics of poverty by recognising those who entered and emerged from it. The literature on multidimensional poverty dynamics is not as well established as that on poverty entry and leave, despite the wealth of available empirical research on both topics. This chapter uses the multidimensional measure of issues related to health, education and infrastructure; social barriers to advancement; a lack of resources and a lack of competence to make decisions for the benefit of the household to investigate the dynamics of poverty and its underlying causes. This chapter distinguishes between chronic and sporadic poverty, and emphasizes the need to focus on the unique factors that determine each type. It is stated that when one individual has lived in poverty for a longer period of time, it is morally required to help. Furthermore, the causes of chronic and temporary poverty may differ, requiring policymakers to treat them as separate categories when developing policies. The theoretical work cited in this chapter laid the groundwork for a model of poverty dynamics, which could prove useful in elucidating the root causes of and pathways out of poverty for policymakers.
The conceptual studies on poverty raise a number of concerns, most notably how poverty is quantified and defined; its origins, dynamics and causes; and where and how it is distributed geographically.
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Abhiraj Malia, Aurodeep Kamal, Bhubaneswari Bisoyi, Biswajit Das and Ipseeta Satpathy
This chapter explores into the understanding of poverty and mitigating the challenges by revisiting for a sustainable alleviation of the scales of economy. Eventually insufficient…
Abstract
This chapter explores into the understanding of poverty and mitigating the challenges by revisiting for a sustainable alleviation of the scales of economy. Eventually insufficient income and spending is the bastion of natural deprivation for household problems. Effective measures are critically examined to redefine the obstacles that are key to upliftment and eradication of poverty. It essentially aims to bridging the gap, analysing the SDG goals through a trend analysis for a time period. These strategies will introspect into overcoming the emerging areas of concern with a futuristic development. Evidently global challenges in the social, economic, political and cultural ecosystem require newness of intervention and initiatives to achieve the triple bottom line, revisiting the dimensions of poverty. Essentially it will anatomise into the causes and consequences of poverty through certain measuring yardsticks in the context of different economies globally. These social, economic, political, legal and technological interventions through their novel strategies can empower and create inclusion for the sharing of equitable wealth distribution, ensuring justice and supporting human rights, providing social security to the poorest of the poor. This study shall innovatively scan through the new entrepreneurship models to understand the skillsets across the globe in order to foster good governance in a win-win environment. Nevertheless, the aspects of poverty alleviation and sustainable order for mitigating the challenges of poverty shall be addressed in the spectrum of climate change and volatility, uncertainty, complexity and ambiguity (VUCA) environment. Basically, in review of the aforesaid dimensions, this study shall vividly examine on the Sustainable Developmental Goals (SDGs) pertaining to poverty alleviation worldwide to adjust for the seamless and uninterrupted continuation trend analysis of the periodic plans of action. It shall adjudge into the befitting global trend admissible under the uncertain future.
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Syed Far Abid Hossain, Arfan Shahriar, Nazmul Hasan Wanjan, Dewan Nailat Islam Neera, Juairya Ashger Khan and Zarin Tasnim Nira
In this research, we magnify the role of hybrid leadership style in facing uncertain turbulence in the market. Due to the rapid change in innovation and other macroeconomic…
Abstract
In this research, we magnify the role of hybrid leadership style in facing uncertain turbulence in the market. Due to the rapid change in innovation and other macroeconomic developments, the already existing market turbulence has become uncertain. This uncertainty has further been accentuated by recent events like COVID-19 and Russia–Ukraine invasion. One solution that is crucial in facing this uncertainty is effective leadership. However, taking the wide groups of individuals present in the market into account, this leadership has to be tailored for each, and this is where the topic for this research, hybrid leadership style to face uncertain market turbulence, comes to play. Here, we gather the existing roles of different leadership styles in different businesses that help in facing the uncertainties and explore the possibilities of new ones. This work can therefore act as a guide to practice hybrid leadership style during market turbulences where following a single specific style may prove unhelpful or lead to dissatisfaction and even aggravation.
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Kyla L. Tennin and Shelli Brunswick
The Swedish International Development Cooperation Agency (SIDA) (2019) explicated there are four dimensions of poverty, and they include (1) resources, (2) opportunities and…
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The Swedish International Development Cooperation Agency (SIDA) (2019) explicated there are four dimensions of poverty, and they include (1) resources, (2) opportunities and choice, (3) power and voice and (4) human security (e.g. violence issues and concerns). Contrastingly, Ellis (1984) postulated dimensions of poverty are social, economic, legal and political poverty. The Organisation for Economic Co-operation and Development (OECD) (2015) stated poverty is not always about income, indicating ‘income poverty’. Deprivation factors can be broad, but reported poor health, inadequate living standards and lack of education are dimensions of poverty (OECD, 2015). Also, according to the World Bank, the world's extremely poor are people who live on less than $1.90 USD per day (Beck et al., 2020). The $1.90 amount is at 2011 purchasing power parity levels. Additionally, the $1.90USD amount has decreased significantly over the last decades (Beck et al., 2020). Nevertheless, entrepreneurship, UN SDGs and technology can be strategies for sustainable alleviation of poverty and pandemic global economic recovery, in the 21st century.