Search results

Momentum returns are considered an anomaly in the finance literature as their existence cannot be fully explained under the asset pricing paradigm. This study attempts to shed more light on this anomaly by investigating the determinants of momentum returns.

The panel data technique is applied to the sample of 40 countries worldwide from 1996 to 2018. The authors use the panel-corrected standard error (PCSE) model to estimate the coefficient of World Governance Indicators (WGI), whereas the fixed effect model is used to determine the coefficient for corporate governance indicators (CGIs). The choice of PCSE estimation methods is guided by the fact that WGI variables are subjected to serial correlation, heteroskedasticity and cross-sectional dependence problems while CGI variables are not. Furthermore, a composite WGI index is constructed using principal component analysis (PCA).

Regression analysis shows a negative and significant relationship between WGI index and momentum returns. The negative coefficient value of WGI supports the prediction of the overreaction hypothesis, which postulates a lower behavioral bias in the market with high governance quality. Breaking down of the WGI by their six indicators reveals that four of the indicators (control over corruption, government effectiveness, stability and avoidance of violence) are negative statistically significant with momentum returns while two indicators are not significant. As for CGIs, only one (strength of investor protection) of the four tested indicators is negative and significantly related to momentum returns.

The study fills the gap in economic literature by highlighting the association between governance quality at the country (WGI) and firm level (CGI) on stock momentum returns.

The purpose of this study is to present a bibliometric analysis of affordable and clean energy research, focusing on key themes, collaboration patterns and the field’s intellectual structure.

Using a sample of 37 articles from Scopus, the authors identified the most frequently used keywords, the most productive countries and organizations and categorized research themes into niche, motor, basic and emerging or declining themes. “Clean Energy,” “Renewable Energy” and “Affordable and Clean Energy” emerged as dominant keywords, highlighting the field’s alignment with global sustainability goals. The USA, China and India were found to be the most productive countries, while institutions like Sri Manakula Vinayagar Engineering College and Nigerian National Petroleum Company played pivotal roles in collaborative networks, reflecting a globalized and interdisciplinary research environment.

The thematic analysis revealed that motor themes, such as “Climate Change” and “Greenhouse Gases”, are central to the discourse, while topics like “Economic Development” and “Energy Conservation” were identified as niche areas. Basic themes, including “Carbon Dioxide” and “Electricity Industry,” remain foundational yet underdeveloped.

This study provides a structured overview of the affordable and clean energy research landscape, offering insights into current trends and identifying areas for future exploration, with an emphasis on interdisciplinary collaboration and socio-economic impacts.

The Indonesian Government has a vision to make Indonesia the center of the World’s Islamic Economy and Finance. Based on this vision, the government must provide and facilitate all economic and financial activities with the Islamic system, including BPJS Ketenagakerjaan. This study aims to explore the factors determining the intention to use Islamic services in the BPJS Ketenagakerjaan program.

The researcher adopted an interpretive philosophy with a phenomenological approach to investigate the life experiences of informants. The determination of informants using the purposive method with 10 interviewees from nine companies representing companies in Jember, Pasuruan and Sidoarjo Branch, East Java province, Indonesia. This study used an in-depth interview method with a semi-structured interview approach to collect the data.

Variables of Islamic values, Islamic financial literacy (IFL), Islamic religiosity and internal and external factors influence the participants’ intention to use Sharia services of BPJS Ketenagakerjaan programs. Islamic values are measured by blessing and justice, and the measurement of IFL uses knowledge. Religiosity is related to the measurement of Godly values that exist in individuals. Meanwhile, researchers found internal factors related to the measurement of service quality, program benefits, choice flexibility of investment-based programs and external factors using subjective norm measurement, namely, the influence of companies and friends. The theory of Islamic reasoned action (TIRA) and the indicators of each variable are successfully created by researchers from a combination of TRA concepts and findings in the field.

BPJS Ketenagakerjaan institution can implement TIRA as a basis for expanding research across all of its branch offices in Indonesia to obtain national data related to participants’ intentions in using Islamic services so that service provision can be realized immediately.

This research is a pioneer in exploring the plan to implement the Islamic service of BPJS Ketenagakerjaan in Indonesia and success in creating the TIRA, a new approach to examining the determinants of intention to choose or use goods and services provided by companies with an Islamic concept.

This study introduces the heritage city risk dimension of the urban rail transit (URT) projects. It aims to identify the risk factors affecting URT projects within the unique context of heritage-rich cities, exploring their interrelation and evaluating critical factors.

The research adopts a multi-case exploratory study to identify the unique challenges faced by URT projects in heritage-rich environments, followed by a comprehensive risk assessment framework integrating Fuzzy Decision-Making Trial and Evaluation Laboratory (DEMATEL), Analytic Network Process (ANP) and Risk Interaction Network (RIN) analysis to assess identified risks in the context of Kathmandu Valley. Additionally, a risk response action is simulated using RIN analysis.

About 16 risk factors were identified from the case studies and evaluated using the proposed risk assessment methodology. The study reveals a highly interconnected risk environment, with heritage impact-related factors exerting the strongest causative influence on cost and social engagement factors. Community opposition (R8) shows the highest betweenness centrality, indicating its central position in risk propagation across the network. Cost-related risk, social demand contingency (R2) ranked as the most critical. Simulations of a targeted risk avoidance strategy showed that addressing only three key high-betweenness centrality factors (R5, R8 and R15) reduced overall risk interactions by 46%, simplifying the risk network, reducing project complexity and improving manageability.

The findings emphasize that project managers, urban planners and policymakers should integrate heritage preservation concerns when planning and executing URT projects in heritage-rich cities. Moreover, the research highlights that effective community engagement serves as a key strategy for reducing risk propagation and plays a crucial role in overall project risk management.

The study contributes to the underexplored context of URT projects in heritage-rich cities, providing a comprehensive risk management framework for identifying and assessing project risks intersecting with urban development imperatives and heritage conservation objectives.

Nanofluids are used in technology, engineering processes and thermal exchanges. In thermal transfer processing, these are used for the smooth transportation of heat and mass through various mechanisms. In the current investigation, we have examined multiple effects like activation energy thermal radiation, magnetic field, external heat source and especially slippery effects on a bioconvective Casson nanofluid flow through a stretching cylinder.

Several studies used non-Newtonian fluid models to study blood flow in the cardiovascular system. In our research, Lewis numbers for bioconvection and the influence of important parameters, such as Brownian diffusion and thermophoresis effects, are also considered. This system is developed as a partial differential equation for the mathematical treatment. Well-defined similarity transformations convert partial differential equation systems into ordinary differential equations. The resultant system is then numerically solved using the bvp4c built-in function of MATLAB.

After utilizing the numerical approach to the system of ordinary differential equations (ODEs), the results are generated in the form of graphs and tables. These generated results show a suitable accuracy rate compared to the previous results. The consequence of various parameters under the assumed boundary conditions on the temperature, motile microorganisms, concentration and velocity profiles are discussed in detail. The velocity profile decreases as the Magnetic and Reynolds number increases. The temperature profile exhibits increasing behavior for the Brownian motion and thermal radiation count augmentation. The concentration profile decreased on greater inputs of the Schmidt number and magnetic effect. The density of motile microorganisms decreases for the increased value of the bio-convective Lewis number.

The numerical analysis of the flow problem is addressed using graphical results and tabular data; our reported results are refined and novel based on available literature. This method is useful for addressing such fluidic flow efficiently.

The purpose of this study is to explore the intricate relationship between oil prices, house prices in the UK and Norway, and the mediating role of gold and stock prices in both the short- and long-term, unraveling these complex linkages by employing an empirical approach.

This study benefits from a comprehensive set of econometric tools, including a multiequation vector autoregressive (VAR) system, Granger causality test, impulse response function, variance decomposition and a single-equation autoregressive distributed lag (ARDL) system. This rigorous approach enables to identify both short- and long-run dynamics to unravel the intricate linkages between Brent oil prices, housing prices, gold prices and stock prices in the UK and Norway over the period from 2005:Q1 to 2022:Q2.

The findings indicate that rising oil prices negatively impact house prices, whereas the positive influence of stock market performance on housing is more pronounced. A two-way causal relationship exists between stock market indices and house prices, whereas a one-way causal relationship exists from crude oil prices to house prices in both countries. The VAR model reveals that past housing prices, stock market indices in each country and Brent oil prices are the primary determinants of current housing prices. The single-equation ARDL results for housing prices demonstrate the existence of a long-run cointegrating relationship between real estate and stock prices. The variance decomposition analysis indicates that oil prices have a more pronounced impact on housing prices compared with stock prices. The findings reveal that shocks in stock markets have a greater influence on housing market prices than those in oil or gold prices. Consequently, house prices exhibit a stronger reaction to general financial market indicators than to commodity prices.

This study may have several limitations. First, the model does not include all relevant macroeconomic variables, such as interest rates, unemployment rates and gross domestic product growth. This omission may affect the accuracy of the model’s predictions and lead to inefficiencies in the real estate market. Second, this study does not consider alternative explanations for market inefficiencies, such as behavioral finance factors, information asymmetry or market microstructure effects. Third, the models have limitations in revealing how predictors react to positive and negative shocks. Therefore, the results of this study should be interpreted with caution.

These findings hold significant implications for formulating dynamic policies aimed at stabilizing the housing markets of these two oil-producing nations. The practical implications of this study extend to academics, investors and policymakers, particularly in light of the volatility characterizing both housing and commodity markets. The findings reveal that shocks in stock markets have a more profound impact on housing market prices compared with those in oil or gold prices. Consequently, house prices exhibit a stronger reaction to general financial market indicators than to commodity prices.

These findings could also serve as valuable insights for future research endeavors aimed at constructing models that link real estate market dynamics to macroeconomic indicators.

Using a variety of econometric approaches, this paper presents an innovative empirical analysis of the intricate relationship between euro property prices, stock prices, gold prices and oil prices in the UK and Norway from 2005:Q1 to 2022:Q2. Expanding upon the existing literature on housing market price determinants, this study delves into the role of gold and oil prices, considering their impact on industrial production and overall economic growth. This paper provides valuable policy insights for effectively managing the impact of oil price shocks on the housing market.

This paper aims to empirically examine the influence of macroeconomic and socioeconomic factors on improving financial inclusion in India, with a specific focus on two distinct indicators of financial inclusion.

This study has used a time-series data set covering the years 1996 to 2022, using a nonlinear autoregressive distributed lag methodology. This approach allows for the examination of both short- and long-run effects of key macroeconomic and socio-economic indicators, including GDP per capita growth, remittance inflows and the income share held by the lowest 20% of the population on the growth of two financial inclusion indicators: the number of commercial bank branches and ATMs per 100,000 adults.

Model-1 investigates how commercial bank branch growth affects financial inclusion. Positive remittance inflow growth and a rise in the income share of the bottom 20% both lead to increased financial inclusion in both the short and long term, with the effects being more pronounced in the long run. Conversely, negative effects of remittance inflow growth and a decline in GDP per capita growth lead to reduced financial inclusion, primarily affecting the long run. Focusing on ATM growth, Model-2 reveals that positive remittance inflow growth has the strongest impact on financial inclusion in the short term. While income share growth for the bottom 20% and GDP growth also positively influence financial inclusion, their effects become significant only in the long run. Conversely, a decline in GDP per capita growth hinders financial inclusion, primarily affecting the short run.

This study fills a gap in research on macroeconomic and socioeconomic factors influencing financial inclusion in India by examining the impact of GDP per capita growth, remittance inflows and the income share held by the lowest 20% of the population, an area relatively unexplored in the Indian context. Second, the study provides comprehensive distinct results for different financial inclusion indicators, offering valuable insights for policymakers. These findings are particularly relevant for policymakers working toward Sustainable Development Goal 8.10.1, as they can use the results to tailor policies that align with SDG objectives. Additionally, policymakers in other developing nations can benefit from this study’s findings to enhance financial inclusion in their respective countries.

The authors examine the volatility connections between the equity markets of China and its trading partners from developed and emerging markets during the various crises episodes (i.e. the Asian Crisis of 1997, the Global Financial Crisis, the Chinese Market Crash of 2015 and the COVID-19 outbreak).

The authors use the GARCH and Wavelet approaches to estimate causalities and connectedness.

According to the findings, China and developed equity markets are connected via risk transmission in the long term across various crisis episodes. In contrast, China and emerging equity markets are linked in short and long terms. The authors observe that China leads the stock markets of India, Indonesia and Malaysia at higher frequencies. Even China influences the French, Japanese and American equity markets despite the Chinese crisis. Finally, these causality findings reveal a bi-directional causality among China and its developed trading partners over short- and long-time scales. The connectedness varies across crisis episodes and frequency (short and long run). The study's findings provide helpful information for portfolio hedging, especially during various crises.

The authors examine the volatility connections between the equity markets of China and its trading partners from developed and emerging markets during the various crisis episodes (i.e. the Asian Crisis of 1997, the Global Financial Crisis, the Chinese Market Crash of 2015 and the COVID-19 outbreak). Previously, none of the studies have examined the connectedness between Chinese and its trading partners' equity markets during these all crises.

The review paper aims to understand the development of workplace ostracism as a field in organizational studies from 2000 to the present. The study provides a comprehensive synthesis of the current state of the domain by exploring its antecedents, consequences, underlying mechanisms and buffering mechanisms.

The present study analyses 134 published peer-reviewed empirical and non-empirical articles retrieved from the Scopus database. A systematic literature review and bibliometric analyses (using VOS viewer) have been used to gain insights into the development and trends within the field. Bibliometric analyses involved science mapping techniques such as co-citation analysis, co-occurrence of keywords and bibliographic coupling. Combining these three techniques, the study aimed to provide a comprehensive overview of the workplace ostracism research domain's historical, current and future landscape.

In the present study, through descriptive analyses, the authors uncovered publishing trends, productive journals, countries and industries that contribute to this research field. The systematic review enabled the showcasing of the current landscape of workplace ostracism. The bibliometric analyses shed light on major authors, influential articles, prominent journals and significant keywords in workplace ostracism.

This study enriches the existing literature by offering a comprehensive research framework for workplace ostracism. It goes beyond that by presenting significant bibliographic insights by applying bibliometric analyses. Furthermore, this study identifies and emphasizes future research directions using the theory, characteristics, construct and methodologies framework, aiming to expand the knowledge base and understanding of this topic.

In the dynamic landscape of industrial enterprises, the integration of advanced technologies has emerged as a crucial factor in enhancing both operational efficiency and sustainability. This paper explores the impact of artificial intelligence (AI), the Internet of Things (IoT), and blockchain technology on accounting sustainability performance. AI's data processing and predictive capabilities, IoT's real-time monitoring, and blockchain's transparency and security are examined for their roles in transforming traditional accounting practices. The discussion highlights how these technologies collectively improve the acceluracy, efficiency, and reliability of financial and sustainability reporting, driving a culture of transparency and continuous improvement. By aligning financial objectives with sustainable practices, industrial enterprises can achieve long-term stability and contribute to global sustainability efforts. This study underscores the importance of technological adoption in navigating the complexities of modern industrial operations and achieving a balance between financial success and sustainable stewardship.