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1 – 10 of 12The crude oil market has experienced an unprecedented overreaction in the first half of the pandemic year 2020. This study aims to show the performance of the global crude oil…
Abstract
Purpose
The crude oil market has experienced an unprecedented overreaction in the first half of the pandemic year 2020. This study aims to show the performance of the global crude oil market amid Covid-19 and spillover relations with other asset classes.
Design/methodology/approach
The authors employ various pandemic outbreak indicators to show the overreaction of the crude oil market due to Covid-19 infection. The analysis also presents market connectedness and spillover relations between the crude oil market and other asset classes.
Findings
One of the essential findings the authors report is that the crude oil market remains more responsive to pandemic fake news. The shock of the global pandemic panic index and pandemic sentiment index appears to be more promising. It has also been noticed that the energy trader's sentiment (OVX and OIV) was measured at a too high level within the Covid-19 outbreak. Volatility spillover analysis shows that crude oil and other market are closely connected, and the total connectedness index directs on average 35% contribution from spillover. During the initial growth of the infection, other macroeconomic and political events remained to favor the market. The second phase amidst the pandemic outbreak harms the global crude oil market. The authors find that infectious diseases increase investor panic and anxiety.
Practical implications
The crude oil investors' sentiment index OVX indicates fear and panic due to infectious diseases and lack of hedge funds to protect energy investments. The unparalleled overreaction of the investors gauged in OVX indicates market participants have paid an excessive put option (protection) premium over the contagious outbreak of the infectious disease.
Originality/value
The empirical model and result reported amid Covid-19 are novel in terms of employing a news-based index of the pandemic, which are based on the content analysis and text search using natural processing language with the aid of computer algorithms.
研究目的
原油市場在流行病肆虐的2020年的頭半年經歷史無前例的過度反應。本文旨在顯示全球原油市場在2019冠狀病毒病流行期間的表現及原油市場與其它資產類別之溢出關係.
研究設計/方法/理念
我們使用各種大流行病爆發的指標,來顯示原油市場因2019冠狀病毒病的感染而過度反應。我們的分析亦涉及市場的關聯性及原油市場與其它資產類別之溢出關係.
研究結果
我們其中一個基本的發現是: 原油市場仍對大流行病的虛假新聞有更迅速的反應。全球大流行病恐慌性指數及大流行病情緒指數所帶來的震驚似乎是有希望的。大家亦察覺,能源交易商的情緒(OVX及OIV) 在2019冠狀病毒病爆發期間被測量為處於太高的水平。波動溢出分析顯示、原油與其它市場有密切的關係,而總關聯度指數引導平均35%來自溢出量的作用。在感染傳播初期,其它的宏觀經濟和政治事件仍對市場有利。在大流行病爆發期間的第二階段則損害全球原油市場。我們發現,傳染病會增加投資者的恐慌和焦慮.
實際的意義
原油投資者的情緒指數OVX顯示因傳染病及因缺乏對沖基金來保障能源投資而帶來的懼怕和恐慌。於OVX測算到的投資者空前的過度反應顯示市場參與者就這傳染病的感染爆發付出過量的賣權(保障)權利金.
研究的原創性
我們的經驗模型和在2019冠狀病毒病肆虐期間匯報的研究結果,從使用以新聞為基礎的流行病指數的角度而言是新穎的。而這些全以內容分析和正文搜尋為基礎、使用自然語言處理,並輔以計算機算法.
Zameelah Khan Jaffur, Boopen Seetanah, Verena Tandrayen-Ragoobur, Sheereen Fauzel, Viraiyan Teeroovengadum and Sonalisingh Ramsohok
This study aims at evaluating the effect of the COVID-19 pandemic on the export trade system for Mauritius during the first half of 2020 (January 2020–June 2020).
Abstract
Purpose
This study aims at evaluating the effect of the COVID-19 pandemic on the export trade system for Mauritius during the first half of 2020 (January 2020–June 2020).
Design/methodology/approach
An initial analysis of the monthly export time series data proves that on the whole, the series have diverged from their actual trends after the outbreak of the COVID-19 pandemic: observed values are less than those predicted by the selected optimal forecast models. The authors subsequently employ the Bayesian structural time series (BSTS) framework for causal analysis to estimate the impact of the COVID-19 pandemic on the island's export system.
Findings
Overall, the findings show that the COVID-19 pandemic has a statistically significant and negative impact on the Mauritian export trade system, with the five main export trading partners and sectors the most affected. Despite that the impact in some cases is not apparent for the period of study, the results indicate that total exports will surely be affected by the pandemic in the long run. Nevertheless, this depends on the measures taken both locally and globally to mitigate the spread of the pandemic.
Originality/value
This study thus contributes to the growing literature on the economic impacts of the COVID-19 pandemic by focussing on a small island economy.
Mian M. Ajmal, Mehmood Khan and Muhammad Kashif Shad
The global economy is plagued by an unprecedented shock that has devastated economic growth under the coronavirus pandemic. The prolonged movement control orders, social…
Abstract
Purpose
The global economy is plagued by an unprecedented shock that has devastated economic growth under the coronavirus pandemic. The prolonged movement control orders, social distancing, and lockdowns have triggered the global economic downturn, disrupted the demand and supply chains, reduced the pool of workforce, and caused many jobs loss. This paper aims to analyze the global economic cost of the coronavirus pandemic, and its current and future implications.
Design/methodology/approach
Based on contingency theory, this paper provides an in-depth analysis of the current situation on the global economic cost of the COVID-19 outbreak and gives insights from an organizational perspective.
Findings
This paper found that the world has witnessed far-ranging economic consequences due to the coronavirus pandemic in four aspects: (i) decline in personal consumption; (ii) decline in the investments and stock prices in capital market; (iii) decline in government spending in developmental projects and increase in new borrowing; and (iv) decline of exports of goods to international markets.
Originality/value
The novelty lies in investigating the effects of the COVID-19 pandemic on micro and macroeconomic levels — the components of GDP, consumer behavior, business investments, government spending, and global exports. The paper suggests the need for urgent actions by the world leaders to oversee, anticipate, and manage the risks and cushion the economic consequences. It concludes that the flexibility and adaptability of leaders, effectiveness, workforce protection, efficient use of modern technology, including automation and artificial intelligence, would enhance the resilience of supply chains which will support organizations to sustain in this critical time.
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Keywords
Pasquale Caponnetto, Roberta Auditore, Marilena Maglia, Stefano Pipitone and Lucio Inguscio
Schizophrenia is a serious psychiatric disorder characterized by positive symptoms, negative symptoms and neurocognitive deficits. The aim of this study was to estimate…
Abstract
Schizophrenia is a serious psychiatric disorder characterized by positive symptoms, negative symptoms and neurocognitive deficits. The aim of this study was to estimate relationships between wellness, yoga and quality of life in patients affected by schizophrenia spectrum disorders. Participants were 30 patients with a diagnosis of schizophrenia in care at the Rehabilitative Psychiatry and Research Villa Chiara Clinic in Mascalucia (Catania, Italy), after that randomly assigned to two groups. The first group followed the experimental treatment with sets of yoga exercises conducted by a yoga trainer and a psychiatrist or a clinical psychologist expert in yoga, while a second control group was treated with usual care. The results revealed a significant difference, before and after treatment, between the experimental group and the control group in quality of life.
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Marilena Maglia, Roberta Auditore, Stefano Pipitone, Rachele DiPasqua, Lucio Inguscio and Pasquale Caponnetto
This study aims to investigate the effects of combining 12-week group psychotherapy with yoga exercises on stress perception and quality of life in mental health professionals.
Abstract
Purpose
This study aims to investigate the effects of combining 12-week group psychotherapy with yoga exercises on stress perception and quality of life in mental health professionals.
Design/methodology/approach
This study was a parallel-arm randomized controlled trial, in which the participants was unaware of which group was the experimental one. Participants involved in our research were assigned to two groups of separate treatment that followed for three months group psychotherapy combined with yoga program for stress management or usual stress coping strategies.
Findings
The findings did not reveal a significant difference in stress perception assessed in the two groups either before or after intervention but reveal a significant difference in the quality of life in the two groups before and after the psycho behavioral interventions.
Originality/value
The findings did not reveal a significant difference in stress perception assessed in the two groups either before or after intervention but reveal a significant difference in the quality of life in the two groups before and after the psycho behavioral interventions.
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Valentini Kalargyrou, Vidya Sundar and Shiva Jahani
This study aims to examine the individual and contextual predictors of managerial attitudes toward employees with chronic depression (EwCD) in the hospitality and tourism field…
Abstract
Purpose
This study aims to examine the individual and contextual predictors of managerial attitudes toward employees with chronic depression (EwCD) in the hospitality and tourism field, the relationship between managerial attitudes toward EwCD and levels of organizational citizenship behavior, and the mediating role of personality in this relationship.
Design/methodology/approach
Empirical data were collected through an online survey of 305 managers working in the hospitality and tourism industry in the USA. SmartPLS 3 software was used to conduct a partial least squares-structural equation modeling analysis.
Findings
Organizational and individual characteristics of managers, such as pressure to be productive in the workplace, previous experience with depression, levels of anxiety and personality characteristics, are strong predictors of attitudes toward employees with depression. Personality mediates the effect of managers’ attitudes toward organizational citizenship behavior.
Practical implications
The study provided support that managers who have experienced depression are more understanding of the needs of EwCD and, consequently, can reduce related stigma in the workplace. Likewise, open and agreeable managers who do not feel the constant pressure to showcase high performance and who score low on anxiety and high on organizational citizenship behavior can create a safe working environment free from prejudice and discrimination toward EwCD.
Originality/value
Examining depression in the hospitality and tourism industry becomes even more critical as mental health issues are increasing in the workplace. This research contributes to the hospitality and tourism literature, which seldom investigates managerial perspectives of mental illness and sheds light on the desirable managerial personality traits necessary for creating an inclusive workplace.
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Narayana Maharana and Suman Kalyan Chaudhury
The purpose of this study is to explore the relationship between educational qualification and entrepreneurial intent (EI) of the students of private and government universities…
Abstract
Purpose
The purpose of this study is to explore the relationship between educational qualification and entrepreneurial intent (EI) of the students of private and government universities located in the state of Odisha, India.
Design/methodology/approach
The study is based on the responses of 485 students of selected private and government universities in Odisha, India. A multistage random sampling approach has been adopted to collect the data and was tested for the role of different elements relating to education in explaining EI.
Findings
The findings suggest that the private universities are superior to the government universities in their Quality of Entrepreneurship Education (QEE), students' Exposure to Entrepreneurship Education (EEE) and their EI. Business Management and Commerce students have more inclination toward entrepreneurship compared to the students of professional streams like Law, Pharmacy, Engineering etc. Self-employed parents, EEE and Extra-Curricular Activities (ECA) are the significant determinants of EI among the university students; whereas, Academic Achievement (AA) and Socio-economic Status (SES) do not significantly explain their EI. Finally, gender also plays a vital role where male students show higher EI compared to their female counterparts.
Practical implications
The research provides an understanding of the significance of entrepreneurship education along with ECA in developing EI among government and private university students.
Originality/value
The paper not only empirically presents the major differences between private and government-owned universities while dealing with entrepreneurship development at the university level but also highlights the impact of demographic and socio-economic characteristics of the students on their EI.
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Patrick Ajibade and Ndakasharwa Muchaonyerwa
This study aims to promote the need for advanced skills acquisition within the LIS and academic libraries. This study focuses on the importance of library management systems and…
Abstract
Purpose
This study aims to promote the need for advanced skills acquisition within the LIS and academic libraries. This study focuses on the importance of library management systems and the need for the graduates to be equipped with analytics skills. Combined with basic data, text mining and analytics, knowledge classification and information audit skills would benefit libraries and improve resource allocation. Agile institutional libraries in this big data era success hinge on the ability to perform depth analytics of both data and text to generate useful insight for information literacy training and information governance.
Design/methodology/approach
This paper adopted a living-lab methodology to use existing technology to conduct system analysis and LMS audit of an academic library of one of the highly ranked universities in the world. One of the benefits of this approach is the ability to apply technological innovation and tools to carry out research that is relevant to the context of LIS or other research fields such as management, education, humanities and social sciences. The techniques allow us to gain access to publicly available information because of system audits that were performed. The level of responsiveness of the online library was accessed, and basic information audits were conducted.
Findings
This study indicated skill gaps in the LIS training and the academic libraries in response to the fourth industrial technologies. This study argued that the role of skill acquisition and how it can foster data-driven library management operations. Hence, data mining, text mining and analytics are needed to probe into such massive, big data housed in the various libraries’ repositories. This study, however, indicated that without retraining of librarians or including this analytics programming in the LIS curriculum, the libraries would not be able to reap the benefits these techniques provided.
Research limitations/implications
This paper covered research within the general and academic libraries and the broader LIS fields. The same principle and concept is very important for both public and private libraries with substantial usage and patrons.
Practical implications
This paper indicated that librarianship training must fill the gaps within the LIS training. This can be done by including data mining, data analytics, text mining and processing in the curriculum. This skill will enable the news graduates to have skills to assist the library managers in making informed decisions based on user-generated content (UGC), LMS system audits and information audits. Thus, this paper provided practical insights and suggested solutions for academic libraries to improve the agility of information services.
Social implications
The academic librarian can improve institutional and LMS management through insights that are generated from the user. This study indicated that libraries' UGC could serve as robust insights into library management.
Originality/value
This paper argued that the librarian expertise transcends information literacy and knowledge classification and debated the interwoven of LMS and data analytics, text mining and analysis as a solution to improve efficient resources and training.
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Rajesh Elangovan, Francis Gnanasekar Irudayasamy and Satyanarayana Parayitam
Despite volumes of research on the efficient market hypothesis (EMH) over the last six decades, the results are inconclusive as some studies supported the hypothesis, and some…
Abstract
Purpose
Despite volumes of research on the efficient market hypothesis (EMH) over the last six decades, the results are inconclusive as some studies supported the hypothesis, and some studies rejected it. The study aims to examine the market efficiency of the Indian stock market.
Design/methodology/approach
For analysis, nine Bombay Stock Exchange (BSE) broad market indices were selected covering the study period from 01 January 2011 to 31 December 2020. The data collected for this study are daily open, high, low and closing prices of selected indices. The tools used in this study are: (1) unit root test to check the stationarity of time series, (2) descriptive statistics, (3) autocorrelation and (4) runs test.
Findings
The empirical findings of the study reveal that BSE broad market indices do not follow a random walk and Indian stock market is as weak-form inefficient.
Research limitations/implications
The findings from this study provide several avenues for future research. One of the research implications is that anomalies in the statistical results by different academicians in the finance area need to be explained by future researchers.
Practical implications
Investment companies need to understand that extraordinary skills are required to beat the market to make abnormal returns. In an inefficient market where securities do not reflect the complete available information, it is challenging for the investment brokers to convince the customers about the portfolios they recommend to the public that the rate of return would be more than expected.
Social implications
As economic growth is related to the growth in the financial sector, developing countries like India depend on the accuracy of the information. In the presence of asymmetric information, the fluctuations in the stock market would have serious harmful consequences on the economy.
Originality/value
Amid several controversies surrounding the EMH testing, this study is a modest attempt to provide evidence that the Indian stock market is in weak-form inefficient. However, it is essential to link investors' behaviour and trends observed in the financial sector to fully understand the implications of EMH.
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Monika Bansal and Surbhi Kapur
Leaders today are continuously seeking models to navigate through the challenges posed by the pandemic times, so as to help the organizations flourish in the volatile business…
Abstract
Purpose
Leaders today are continuously seeking models to navigate through the challenges posed by the pandemic times, so as to help the organizations flourish in the volatile business environment. This paper attempts to explore the alignment of insights drawn from the ancient Indian scripture, the Bhagavad Gita, with today’s leadership requirements, towards the betterment of both the leaders and organizations.
Design/methodology/approach
A qualitative approach with thematic analysis is used to identify leadership qualities pertinent in difficult times through interviews with 15 employees at leadership positions. It establishes the alignment of the qualities with the sapient advice from the Holy Scripture, maneuvered by today’s leaders to become more purposeful and impactful.
Findings
The discernments from the Bhagavad Gita holistically entwine the emotional, intellectual and spiritual aspects of resilient leaders and provide guidance on the leaders’ attitude towards work, behaviour and self management, to help steer through the challenging environment. With turbulent changes during the COVID-19 pandemic, conventional leadership skills would be outmoded, and hence the leaders need to strengthen the critical shifts in their own established sets of attitudes as well as that of their workforce.
Originality/value
Under the changing work environment, while the new leadership narrative of the world beyond takes shape, this study delves both into ancient Indian wisdom and current opinion to identify a template of workable practices that would differentiate extraordinary leaders from the rest.
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