Jin Cai and Gerard Pinto
This paper aims to improve how investors can better manage their exposure to bitcoin (BTC), given the growing importance of BTC and the accompanying high volatility of BTC. This…
Abstract
Purpose
This paper aims to improve how investors can better manage their exposure to bitcoin (BTC), given the growing importance of BTC and the accompanying high volatility of BTC. This paper tests whether altcoins can serve as safe havens and diversifiers against exposure to BTC.
Design/methodology/approach
Using daily returns of altcoins and BTC from 2014 to early 2022, this paper examines the relationship between altcoins and BTC in a GARCH regression framework.
Findings
This paper finds that altcoins act as reliable safe havens during periods of extremely negative BTC returns and provide BTC investors with diversification benefits during normal periods. The safe haven effect of altcoins is superior to that of conventional assets. This paper presents evidence that this safe haven property of altcoins can be attributed to the informational efficiency channel, which arose from the increased adoption of BTC by institutional investors.
Research limitations/implications
The study uses a data set from 2014 to early 2022. While the sample is among the largest samples in the literature on crypto assets and includes adequate BTC tail events to test the hypotheses, it may not capture more recent changes in the crypto markets.
Practical implications
The findings suggest that BTC investors can enjoy diversification and safe haven protections by including altcoins in their portfolios.
Originality/value
This paper’s focus on alternative cryptocurrencies (altcoins) as potential diversifiers and safe havens is original. The hypothesis about altcoins being better alternatives during extreme negative movements in BTC prices is a unique contribution. The test of the role of the information efficiency channel further enhances the paper’s originality.
Structural analysis is designed to deal with patterns which exist in the human mind and, thereby, impact the ways in which people act and respond to circumstances. As such…
Abstract
Structural analysis is designed to deal with patterns which exist in the human mind and, thereby, impact the ways in which people act and respond to circumstances. As such, structural analysis has value in situations involving consumer choice and preference. Historically, structural analysis, in both literary criticism and consumer research, has tended to be static in nature. Marketing managers, however, are interested in cultural dynamics and what influences consumer preferences and buying patterns as they evolve through time. Here a structural interpretation which is linked to a socio/economic deterministic model, will be used to analyze two popular television series (The Fugitive and Mission Impossible) which were originally aired in the 1960s and were remade into blockbuster feature films in the 1990s. This example will explore the value of a dynamic structural model within marketing management.
Details
Keywords
Redeemer Krah and Gerard Mertens
The study aims at examining the level of financial transparency of local governments in a sub-Saharan African country and how financial transparency is affected by democracy in…
Abstract
Purpose
The study aims at examining the level of financial transparency of local governments in a sub-Saharan African country and how financial transparency is affected by democracy in the sub-region.
Design/methodology/approach
The study applied a panel regression model to data collected from public accounts of 43 local authorities in Ghana from 1995 to 2014. Financial transparency was measured using a transparency index developed based on the Transparency Index of Transparency International and the information disclosure requirements of public sector entities under the International Public Sector Accounting Standards.
Findings
The study finds the low level of financial transparency among the local governments in Ghana, creating information asymmetry within the agency framework of governance. Further, evidence from the study suggests a strong positive relationship between democracy and financial transparency in the local government.
Research limitations/implications
Deepening democracy is necessary for promoting the culture of financial transparency in local governance in sub-Saharan Africa, perhaps in entire Africa.
Practical implications
There is a need for the local governments and governments, in general, to deepen democracy to ensure proactive disclosure of the financial information to the citizens to improve participation trust and eventual reduction in corruption. Effective implementation of the Right to Information Act would also help promote financial and other forms of transparency in the sub-region.
Originality/value
The study contributes to the public sector accounting literature by linking democracy to financial transparency in the local government. Hitherto, studies concentrate on how entity level variables impact on the level of financial information flow in the local government without considering the broader governance infrastructure within which local governments operate.
Details
Keywords
Karen Nokes and Gerard P. Hodgkinson
Policy-capturing is an experimental technique potentially capable of providing powerful insights into the cognitive bases of work-related decision processes by revealing actors’…
Abstract
Policy-capturing is an experimental technique potentially capable of providing powerful insights into the cognitive bases of work-related decision processes by revealing actors’ “implicit” models of the problem at hand, thereby opening up the “black box” of managerial and organizational cognition. This chapter considers the strengths and weaknesses of policy-capturing vis-à-vis alternative approaches that seek to capture, in varying ways, the inner workings of people’s minds as they make decisions. It then outlines the critical issues that need to be addressed when designing policy-capturing studies and offers practical advice to would-be users concerning some of the common pitfalls of the technique and ways of avoiding them.
Details
Keywords
Karen Carberry, Jean Gerald Lafleur and Genel Jean-Claude
This chapter explores the impact of delivering culturally community family therapy with strength-based strategies, to transgenerational Black Haitian families living in Haiti and…
Abstract
This chapter explores the impact of delivering culturally community family therapy with strength-based strategies, to transgenerational Black Haitian families living in Haiti and the Dominican Republic following the 2010 earthquake. A series of workshop intervention over several years, which were co-facilitated by community pastors and leaders provided a cultural-based intervention drawing on Black British and Caribbean culture, Haitian culture, Christian spiritual belief systems, in conjunction with some bi-cultural attachment and systemic methods and techniques. Community feedback through testimonies contributed to evaluation and outcomes in developing new strategies to manage stress, and family conflict and distress, together with developing new strategies in sharing a vision for the future across the community.
Details
Keywords
Hans Mikkelsen and Jens O. Riis
One thing is to get a project organization in place. Another thing is to bring it alive. This is the subject of this chapter. Most project work is teamwork, in the core teams and…
Abstract
One thing is to get a project organization in place. Another thing is to bring it alive. This is the subject of this chapter. Most project work is teamwork, in the core teams and work groups, and also in the steering committee, reference groups, and focus groups.
Because projects are temporary, it is a challenge quickly to establish effective cooperation in the groups and teams of the project organization, internal as well as external with surrounding organizations. Five elements of cooperation in the project team will be presented, including collaboration, coordination, communication, coalition, and control. Different work patterns will be discussed, and methods for carrying out project work will be presented, e.g., coping with limited rationality and handling project complexity.
A section will deal with work patterns in the steering committee, and a section will discuss cooperation with interested parties (stakeholders). Also, the maturity of the project organization will be treated.
A final section will discuss learning in the project organization.
Yudith Cardinale, Maria Alejandra Cornejo-Lupa, Alexander Pinto-De la Gala and Regina Ticona-Herrera
This study aims to the OQuaRE quality model to the developed methodology.
Abstract
Purpose
This study aims to the OQuaRE quality model to the developed methodology.
Design/methodology/approach
Ontologies are formal, well-defined and flexible representations of knowledge related to a specific domain. They provide the base to develop efficient and interoperable solutions. Hence, a proliferation of ontologies in many domains is unleashed. Then, it is necessary to define how to compare such ontologies to decide which one is the most suitable for the specific needs of users/developers. As the emerging development of ontologies, several studies have proposed criteria to evaluate them.
Findings
In a previous study, the authors propose a methodological process to qualitatively and quantitatively compare ontologies at Lexical, Structural and Domain Knowledge levels, considering correctness and quality perspectives. As the evaluation methods of the proposal are based on a golden-standard, it can be customized to compare ontologies in any domain.
Practical implications
To show the suitability of the proposal, the authors apply the methodological approach to conduct comparative studies of ontologies in two different domains, one in the robotic area, in particular for the simultaneous localization and mapping (SLAM) problem; and the other one, in the cultural heritage domain. With these cases of study, the authors demonstrate that with this methodological comparative process, we are able to identify the strengths and weaknesses of ontologies, as well as the gaps still needed to fill in the target domains.
Originality/value
Using these metrics and the quality model from OQuaRE, the authors are incorporating a standard of software engineering at the quality validation into the Semantic Web.
Details
Keywords
Jennifer A. Whitty, Sharyn R. Rundle‐Thiele and Paul A. Scuffham
Taxes are used to subsidise the public use of pharmaceuticals in some countries. This paper seeks to quantify criteria considered important by the Australian public for allocating…
Abstract
Purpose
Taxes are used to subsidise the public use of pharmaceuticals in some countries. This paper seeks to quantify criteria considered important by the Australian public for allocating resources for pharmaceuticals.
Design/methodology/approach
A discrete choice experiment (DCE) was administered to two samples of adults in Australia. A forced choice design was used in a pilot study, but an opt‐out option was included in the main study to avoid forcing choice. Data were analysed using multinomial logit.
Findings
For the levels and units presented in the DCE, quality of life (QoL) after treatment was the most important attribute in both the pilot and main studies, followed by survival after treatment and the chance of success for a given pharmaceutical. Cost to the government was of little importance in the pilot study, but was of importance in the main study.
Practical implications
By understanding public preferences, marketers can tailor pharmaceutical offerings that appeal to the public and to relevant pharmaceutical funding bodies when making submissions, thus increasing the likelihood of receiving public funding support. Understanding public preferences allows public policy‐makers to direct resources towards those medical technologies which are likely to give the greatest overall societal benefit.
Originality/value
This study shows the simultaneous importance of survival, QoL, chance of success and cost to public preferences for pharmaceutical funding. Cost (tax) signals suggest the public are willing to limit the amount they expect the government to pay for effective pharmaceuticals.
Details
Keywords
Kyung Tae Lee, You-Il Lee and Richard Lee
The purpose of this study is to investigate the differential influences of economic nationalism (EN) and cosmopolitanism (COS) on consumer behaviour, and how the two concepts are…
Abstract
Purpose
The purpose of this study is to investigate the differential influences of economic nationalism (EN) and cosmopolitanism (COS) on consumer behaviour, and how the two concepts are underpinned by different (normative versus informational) interpersonal influences.
Design/methodology/approach
Surveys took place in two countries, South Korea (n = 257) and Taiwan (n = 258). Both are rapidly developing economies with a cosmopolitan consumer base. Two products, one representing conspicuous and one representing non-conspicuous categories, were used in each country’s survey. The data were subjected to exploratory and confirmation factor analyses and fitted using structural equation modelling.
Findings
Contrary to past studies, EN and COS were unrelated. Economic nationalism was strong and biased towards domestic products. The results also suggest that COS may be related to bias against domestic products. EN related strongly to normative influence, whereas COS rested on informational influence. The results were similar across the countries and the product types.
Research limitations/implications
Economic nationalism and COS may coexist as consumer dispositions and their relative salience may vary across individuals. Foreign firms should not overlook consumers’ nationalistic sentiment, just as domestic firms may capitalise on it. Both foreign and domestic firms can capitalise on consumer nationalism by highlighting benefits such as domestic employment and wealth creation.
Practical implications
EN and COS may coexist as consumer dispositions, and their relative salience may vary across individuals. When managing their brand portfolio, foreign firms would benefit from considering consumers’ nationalistic sentiment, just as domestic firms may capitalise on it. Both foreign and domestic firms can capitalise on consumer nationalism by highlighting social benefits such as domestic employment and wealth creation.
Originality/value
This study brings research on EN and COS from a macro/country level to a micro/individual level. It provides theoretical and empirical insights on the differential influences of EN and COS on consumer behaviour and sheds light on their psychological underpinnings.