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Article
Publication date: 12 June 2017

Nara Rossetti, Marcelo Seido Nagano and Jorge Luis Faria Meirelles

This paper aims to analyse the volatility of the fixed income market from 11 countries (Brazil, Russia, India, China, South Africa, Argentina, Chile, Mexico, USA, Germany and…

2203

Abstract

Purpose

This paper aims to analyse the volatility of the fixed income market from 11 countries (Brazil, Russia, India, China, South Africa, Argentina, Chile, Mexico, USA, Germany and Japan) from January 2000 to December 2011 by examining the interbank interest rates from each market.

Design/methodology/approach

To the volatility of interest rates returns, the study used models of auto-regressive conditional heteroscedasticity, autoregressive conditional heteroscedasticity (ARCH), generalized autoregressive conditional heteroscedasticity (GARCH), exponential generalized autoregressive conditional heteroscedasticity (EGARCH), threshold generalized autoregressive conditional heteroscedasticity (TGARCH) and periodic generalized autoregressive conditional heteroscedasticity (PGARCH), and a combination of these with autoregressive integrated moving average (ARIMA) models, checking which of these processes were more efficient in capturing volatility of interest rates of each of the sample countries.

Findings

The results suggest that for most markets, studied volatility is best modelled by asymmetric GARCH processes – in this case the EGARCH – demonstrating that bad news leads to a higher increase in the volatility of these markets than good news. In addition, the causes of increased volatility seem to be more associated with events occurring internally in each country, as changes in macroeconomic policies, than the overall external events.

Originality/value

It is expected that this study has contributed to a better understanding of the volatility of interest rates and the main factors affecting this market.

Propósito

Este estudio analiza la volatilidad del mercado de renta fija de once países (Brasil, Rusia, India, China, Sudáfrica, Argentina, Chile, México, Estados Unidos, Alemania y Japón) de enero de 2000 a diciembre de 2011, mediante el examen de las tasas de interés interbancarias de cada mercado.

Diseño/metodología/enfoque

Para la volatilidad de los retornos de las tasas de interés, se utilizaron modelos de heteroscedasticidad condicional autorregresiva: ARCH, GARCH, EGARCH, TGARCH y PGARCH, y una combinación de estos con modelos ARIMA, comprobando cuáles de los procesos eran más eficientes para capturar la volatilidad de interés de cada uno de los países de la muestra.

Hallazgos

Los resultados sugieren que para la mayoría de los mercados estudiados la volatilidad es mejor modelada por procesos GARCH asimétricos —en este caso el EGARCH— demostrando que las malas noticias conducen a un mayor incremento en la volatilidad de estos mercados que las buenas noticias. Además, las causas de una mayor volatilidad parecen estar más asociadas a eventos que ocurren internamente en cada país, como cambios en las políticas macroeconómicas, que los eventos externos generales.

Originalidad/valor

Se espera que este estudio contribuya a un mejor entendimiento de la volatilidad de las tasas de interés y de los principales factores que afectan a este mercado.

Palabras clave

Ingreso fijo, Volatilidad, Países emergentes, Modelos ARCH-GARCH

Tipo de artículo

Artículo de investigación

Details

Journal of Economics, Finance and Administrative Science, vol. 22 no. 42
Type: Research Article
ISSN: 2077-1886

Keywords

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Article
Publication date: 10 November 2014

Christoph Becker, Luis Faria and Kresimir Duretec

Preservation environments such as repositories need scalable and context-aware preservation planning and monitoring capabilities to ensure continued accessibility of content over…

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Abstract

Purpose

Preservation environments such as repositories need scalable and context-aware preservation planning and monitoring capabilities to ensure continued accessibility of content over time. This article identifies a number of gaps in the systems and mechanisms currently available and presents a new, innovative architecture for scalable decision-making and control in such environments.

Design/methodology/approach

The paper illustrates the state of the art in preservation planning and monitoring, highlights the key challenges faced by repositories to provide scalable decision-making and monitoring facilities, and presents the contributions of the SCAPE Planning and Watch suite to provide such capabilities.

Findings

The presented architecture makes preservation planning and monitoring context-aware through a semantic representation of key organizational factors, and integrates this with a business intelligence system that collects and reasons upon preservation-relevant information.

Research limitations/implications

The architecture has been implemented in the SCAPE Planning and Watch suite. Integration with repositories and external information sources provide powerful preservation capabilities that can be freely integrated with virtually any repository.

Practical implications

The open nature of the software suite enables stewardship organizations to integrate the components with their own preservation environments and to contribute to the ongoing improvement of the systems.

Originality/value

The paper reports on innovative research and development to provide preservation capabilities. The results enable proactive, continuous preservation management through a context-aware planning and monitoring cycle integrated with operational systems.

Details

OCLC Systems & Services: International digital library perspectives, vol. 30 no. 4
Type: Research Article
ISSN: 1065-075X

Keywords

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Article
Publication date: 9 February 2015

Christoph Becker, Luis Faria and Kresimir Duretec

This article aims to evaluate a new architecture for scalable decision-making and control in preservation environments for its ability to address five key goals: scalable content…

951

Abstract

Purpose

This article aims to evaluate a new architecture for scalable decision-making and control in preservation environments for its ability to address five key goals: scalable content profiling; monitoring of compliance, risks and opportunities; efficient creation of trustworthy plans; context awareness; and loosely coupled preservation ecosystems. Scalable decision support and business intelligence capabilities are required to effectively secure content over time.

Design/methodology/approach

We conduct a systematic evaluation of the contributions of the SCAPE Planning and Watch suite to provide effective and scalable decision support capabilities. We discuss the quantitative and qualitative evaluation of advancing the state of art and report on a case study with a national library.

Findings

The system provides substantial capabilities for semi-automated, scalable decision-making and control of preservation functions in repositories. Well-defined interfaces allow a flexible integration with diverse institutional environments. The free and open nature of the tool suite further encourages global take-up in the repository communities.

Research limitations/implications

The article discusses a number of bottlenecks and factors limiting the real-world scalability of preservation environments. This includes data-intensive processing of large volumes of information, automated quality assurance for preservation actions, and the element of human decision-making. We outline open issues and future work.

Practical implications

The open nature of the software suite enables stewardship organizations to integrate the components with their own preservation environments and to contribute to the ongoing improvement of the systems.

Originality/value

The paper reports on innovative research and development to provide preservation capabilities. The results of the assessment demonstrate how the system advances the control of digital preservation operations from ad hoc decision-making to proactive, continuous preservation management, through a context-aware planning and monitoring cycle integrated with operational systems.

Details

OCLC Systems & Services: International digital library perspectives, vol. 31 no. 1
Type: Research Article
ISSN: 1065-075X

Keywords

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Article
Publication date: 24 October 2008

Delfina Gomes, Garry D. Carnegie and Lúcia Lima Rodrigues

The purpose of this paper is to look at the adoption of double entry bookkeeping at the Royal Treasury, Portugal, on its establishment in 1761 and the factors contributing to this…

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Abstract

Purpose

The purpose of this paper is to look at the adoption of double entry bookkeeping at the Royal Treasury, Portugal, on its establishment in 1761 and the factors contributing to this development. The Royal Treasury was the first central government organization in Portugal to adopt double entry bookkeeping and was a crucial first step in the institutionalisation of the technique in Portuguese public administration.

Design/methodology/approach

Set firmly in the archive, this paper adopts new institutional sociology (NIS) to inform the findings of the local, time‐specific accounting policy and practice at the Portuguese Royal Treasury.

Findings

Embedded within the broader European context, this study identifies the key pressures exerted upon the Royal Treasury on its formation in 1761, which resulted in major accounting change within Portuguese central government from that date. The study provides further evidence of the importance of the state in the institutionalization of accounting practices by means of coercive pressures and highlights for Portugal the importance of individual actors who, as powerful change agents, made key decisions that influenced accounting change.

Originality/value

This study examines a major instance of accounting change in European central government and broadens the application of NIS in accounting history research to a different country – Portugal – and to a different time – the eighteenth century. It also serves to illuminate the difficulties of collecting pertinent evidence pertaining to this long‐dated time period in identifying certain forms of institutional pressures.

Details

Accounting, Auditing & Accountability Journal, vol. 21 no. 8
Type: Research Article
ISSN: 0951-3574

Keywords

Available. Content available
Article
Publication date: 30 September 2014

Heidi Hanson and Zoe Stewart-Marshall

231

Abstract

Details

Library Hi Tech News, vol. 31 no. 8
Type: Research Article
ISSN: 0741-9058

Available. Content available
Article
Publication date: 1 April 2014

278

Abstract

Details

Library Hi Tech News, vol. 31 no. 2
Type: Research Article
ISSN: 0741-9058

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Article
Publication date: 25 November 2020

Cecília Galvão, Cláudia Faria, Wanda Viegas, Amélia Branco and Luís Goulão

This paper aims to understand if a project work methodology proposed to students, based on an inquiry perspective and dealing with different dimensions of sustainable development…

487

Abstract

Purpose

This paper aims to understand if a project work methodology proposed to students, based on an inquiry perspective and dealing with different dimensions of sustainable development, contributed to creating an interdisciplinary solution for a problem on sustainability challenged by food production and consumption, and also to understand if this methodological approach is perceived as important to their learning as professionals and citizens. Data were collected by direct observation, a questionnaire applied to the students and students’ individual reflections.

Design/methodology/approach

This paper aims to present the research results of the impact of a pedagogical approach on students, implemented as a part of the Doctoral Programme in Sustainability Science, which was designed following an innovative model at the University of Lisbon, Portugal. The main drivers include building a new body of interdisciplinary knowledge leading to the application of science to address real problems towards transdisciplinary education.

Findings

The results suggest great potential for an inquiry perspective in trying to solve a real problem. Students’ proposals were realistic, viable and complementary enough to collectively contribute in response to the global problem. The use of approaches acquired from different areas of knowledge was clear, and the project methodology was well understood. Students considered the experience very rewarding in terms of learning and contributing positively to their personal and professional development.

Originality/value

This Doctoral programme is anchored in a progressive continuum encompassing holistic debates with a multidisciplinary team of professors in environments that promote interdisciplinary attitudes and new knowledge, and also project work aimed at guiding students to transdisciplinary learning, which constitutes an innovative form of dealing with the complex challenges created by the science of sustainability.

Details

International Journal of Sustainability in Higher Education, vol. 22 no. 2
Type: Research Article
ISSN: 1467-6370

Keywords

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Article
Publication date: 9 July 2021

Pablo Farías and Luis Torres

This paper explores which market and product category characteristics could influence the use of foreign language brand names (i.e. whether a brand uses a foreign language versus…

590

Abstract

Purpose

This paper explores which market and product category characteristics could influence the use of foreign language brand names (i.e. whether a brand uses a foreign language versus local language brand name) in some of the largest Latin American countries.

Design/methodology/approach

Hypotheses are tested using 880 brands from 39 product categories and nine Latin American markets using a hierarchical logistic regression.

Findings

Results revealed that foreign language brand names are more likely to be used in product categories related to local infrastructure, high-tech and global community. In contrast, local language brand names are more likely to be used in product categories associated to subscriptions. Findings also suggest that Hofstede's national cultural dimensions are significant factors. Finally, the results revealed that foreign language brand names are more likely to be used in markets with a low level of foreign language proficiency.

Originality/value

This paper shows the importance of considering market and product category characteristics and their potential influence on local versus foreign language branding in Latin America – an ignored issue in previous research.

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Article
Publication date: 27 September 2024

Luis Felipe Dias Lopes, Anavaléria Vieira Santos, Deoclécio Junior Cardoso da Silva, Igor Bernardi Sonza, Daniel Knebel Baggio, Gilnei Luiz de Moura, Wesley Vieira da Silva and Claudimar Pereira da Veiga

This research sheds light on the distinct decision-making behaviors and perceptions related to the value attributed to money, uncovering nuances in the interrelationship between…

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Abstract

Purpose

This research sheds light on the distinct decision-making behaviors and perceptions related to the value attributed to money, uncovering nuances in the interrelationship between money valuation and its ensuing influence on risk perceptions and related behaviors, mainly focusing on financial education.

Design/methodology/approach

Executed in the Brazilian market, this study employs a quantitative approach, encompassing 663 participants and deploying comprehensive statistical methodologies – principally, structural equation modeling based on variances – to scrutinize the amassed primary data.

Findings

The insights from the study reveal a significant impact of both negative money value (NMV) and positive money value (PMV) on participants' financial decisions, profoundly shaping perceptions, acceptances and responses to risk. Consequently, this study underscores the pivotal role the perceived value of money plays in sculpting financial behaviors and formulating risk management strategies. Distinctly, this research emphasizes intrinsic monetary values, extending unprecedented insights by delineating aversive behaviors toward losses and risks and probing the repercussions of both negative and positive monetary values.

Originality/value

It acts as an avant-garde exploration, unveiling new perspectives on upcoming consumers' anticipated financial decision-making approaches and pinpointing areas warranting deeper exploration and comprehension within the fluid consumer market landscape.

Propósito

Esta investigación arroja luz sobre los distintos comportamientos y percepciones en la toma de decisiones relacionadas con el valor atribuido al dinero, descubriendo matices en la interrelación entre la valoración del dinero y su influencia subsiguiente en las percepciones de riesgo y comportamientos relacionados, centrándose principalmente en la educación financiera.

Diseño/Metodología/Enfoque

Ejecutado en el mercado brasileño, este estudio emplea un enfoque cuantitativo, abarcando a 663 participantes y desplegando metodologías estadísticas integrales, principalmente el Modelado de Ecuaciones Estructurales basado en varianzas, para escrutar los datos primarios acumulados.

Resultados

Las percepciones obtenidas en el estudio revelan un impacto significativo tanto de los Valores Negativos como de los Valores Positivos del Dinero en las decisiones financieras de los participantes, moldeando profundamente percepciones, aceptaciones y respuestas al riesgo. En consecuencia, este estudio subraya el papel fundamental que desempeña el valor percibido del dinero en la formación de comportamientos financieros y en la formulación de estrategias de gestión de riesgos. De manera distintiva, esta investigación enfatiza los valores monetarios intrínsecos, ampliando perspectivas sin precedentes al delinear comportamientos aversivos hacia pérdidas y riesgos y explorar las repercusiones de los valores monetarios negativos y positivos.

Originalidad

Actúa como una exploración vanguardista, desvelando nuevas perspectivas sobre los enfoques de toma de decisiones financieras anticipadas por parte de los consumidores emergentes y señalando áreas que requieren una exploración y comprensión más profundas dentro del dinámico panorama del mercado de consumidores.

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Book part
Publication date: 28 May 2012

Marina Toneli Siqueira

This chapter discusses the Brazilian redevelopment policy denominated urban operation. First implemented in São Paulo in the 1980s, it was included in the Brazilian federal urban…

Abstract

This chapter discusses the Brazilian redevelopment policy denominated urban operation. First implemented in São Paulo in the 1980s, it was included in the Brazilian federal urban legislation in 2001 as an instrument to promote the redevelopment of great urban areas through public–private partnerships. On the one hand, the local public administration would provide incentives to investments in a given project, especially by selling construction rights; on the other hand, the value captured would be reinvested in the same area, following a list of works that may include urban infrastructure and services. The main benefits expected are structural change without onus for the public administration; a more balanced urban growth, estimulating higher density in areas well served by urban infrastructure; and real estate valorization. Nevertheless, this chapter critically analyzes its early experiences in São Paulo, demonstrating an entrepreneurial and speculative logic of spatial production. In this sense, the chapter is structured in four parts. The first one presents the legal instrument, while the following two sections explore the two main aspects of its functioning: great urban projects and public–private partnerships. In the final section, the Urban Operation Faria Lima will be assessed, especially on its attempts to promote São Paulo as a global city. If it is not possible to generalize from this particular experience, it exposes the necessity of discussing how the instrument, now a federal policy, may be implemented in other Brazilian cities, which type of redevelopment it may promote and for whom.

Details

Living on the Boundaries: Urban Marginality in National and International Contexts
Type: Book
ISBN: 978-1-78052-032-2

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