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Article
Publication date: 17 August 2012

415

Abstract

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Grey Systems: Theory and Application, vol. 2 no. 2
Type: Research Article
ISSN: 2043-9377

Available. Content available
Article
Publication date: 8 April 2014

Zahir Irani, Muhammad Kamal, Cengiz Kahraman, Basar Oztaysi and Ozgur Kabak and Irem Ucal Sari

170

Abstract

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Journal of Enterprise Information Management, vol. 27 no. 3
Type: Research Article
ISSN: 1741-0398

Available. Open Access. Open Access
Article
Publication date: 24 July 2023

Baojuan Ye, Shunying Zhao, Hohjin Im, Liluo Gan, Mingfan Liu, Xinqiang Wang and Qiang Yang

This study aims to examine how the initial ambiguity of COVID-19 contributed to tourists' intentions for visiting a once-viral outbreak site in the future.

788

Abstract

Purpose

This study aims to examine how the initial ambiguity of COVID-19 contributed to tourists' intentions for visiting a once-viral outbreak site in the future.

Design/methodology/approach

The present study (N = 248) used partial least-squares structural equation modeling (PLS-SEM) to examine whether perceptions of ambiguity and mismanagement of COVID-19 are indirectly related to intentions to travel to Wuhan in a post-pandemic world through perceptions of risk and tourism value. Further, whether the model effects differed as a function of individual safety orientation was examined.

Findings

Perceptions of COVID-19 risk and tourism value serially mediated the effects of perceived COVID-19 ambiguity on post-pandemic travel intentions. Safety orientation did not moderate any paths. Perceived risk was a negative direct correlate of post-pandemic travel intentions.

Originality/value

The current study's strength is rooted in its specific targeting of post-pandemic travel intentions to Wuhan—the first city to experience a widescale outbreak of COVID-19 and subsequent international stigma—compared to general travel inclinations.

Details

Journal of Tourism Futures, vol. 10 no. 2
Type: Research Article
ISSN: 2055-5911

Keywords

Available. Open Access. Open Access
Article
Publication date: 28 November 2024

Miklesh Prasad Yadav, Silky Vigg Kushwah, Farhad Taghizadeh-Hesary and Nandita Mishra

This paper aims to analyze the dynamic linkages of the energy market with the forex market. The energy market is measured by crude oil WTI, while the forex market is proxied by…

192

Abstract

Purpose

This paper aims to analyze the dynamic linkages of the energy market with the forex market. The energy market is measured by crude oil WTI, while the forex market is proxied by Brazilian real (RBRL), Mexican peso (RMXN), South African rand (RZAR), Turkish lira (RTRY) and British pound sterling (RGBP) exchange rate.

Design/methodology/approach

For the study, daily observations of these constituent asset classes extending from December 31, 2019, to August 16, 2022, are taken as the data. Furthermore, it is categorized into two different sub-samples in the form of the COVID-19 outbreak (December 31, 2019 to February 23, 2022) and the Russo−Ukraine invasion (February 24, 2022 to August 16, 2022). For empirical estimation, Diebold and Yilmaz model (2014) and Barunik and Krehlik test (2018) are used to examine the dynamic linkages.

Findings

The study concludes that the Mexican peso (RMXN) receives and transmits the highest spillover, while crude oil (RCOWTI) receives and transmits the least volatility to the network connection in full sample. In addition, the authors report that the dynamic linkage is not constant in the short, medium and long run. Furthermore, the spillover index in the Russo−Ukraine invasion is higher (29.92%) than full observation (22.03%) and COVID-19 outbreak (21.10%) in the short run.

Originality/value

This paper ventures to offer insight to investors, traders and policymakers based on normal trading days and crisis periods.

Details

Review of Accounting and Finance, vol. 24 no. 1
Type: Research Article
ISSN: 1475-7702

Keywords

Available. Open Access. Open Access
Article
Publication date: 5 April 2022

Yang Liu and In-Mu Haw

For Chinese companies that cross-list in Chinese A share and Hong Kong (H share) markets, the H share price has been consistently lower than the A share price by an average of 85…

1337

Abstract

Purpose

For Chinese companies that cross-list in Chinese A share and Hong Kong (H share) markets, the H share price has been consistently lower than the A share price by an average of 85% in recent years. This is puzzling because most institutional differences between the two markets have been eliminated since 2007. The purpose of this study is to explain the puzzle of the price difference of A+H companies.

Design/methodology/approach

Using all A and H share Chinese firms in the period 2007–2013 and a simultaneous equations approach, this study identifies three new explanations for the recent price difference.

Findings

First, utilizing a unique earning quality measure that is directly related to non-persistent components of fair value accounting under International Financial Reporting Standards (IFRS), this study finds that the lower the earnings quality, the lower the H share price relative to the A share price, and hence the greater the price difference. Second, the higher the myopic investor ownership in A share firms, the larger the A share price relative to the H share price. Third, the short-selling mechanism introduced to the A share market since 2010 helps reduce the price difference.

Originality/value

First, this study identifies three new explanations for the puzzle of the AH price difference which remains substantial even after the institutional and accounting standards differences between the two markets were eliminated. Second, we examine the impact of the implementation of fair value accounting under IFRS in an emerging market on the pricing difference of cross-listed shares and reveal that it can induce an unintended negative consequence on the pricing difference of cross-listed shares. Third, this study contributes to the literature on short sales by providing its mitigating role in pricing differences across two different markets. Finally, this study makes improvements in research design, which utilizes a unique measure of earnings quality that is directly related to the implementation of IFRS and a simultaneous equations approach that minimizes endogeneity concern.

Details

China Accounting and Finance Review, vol. 24 no. 2
Type: Research Article
ISSN: 1029-807X

Keywords

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