Guanghao Wang, Chenghao Liu, Erwann Sbai, Mingyue Selena Sheng, Jinhong Hu and Miaomiao Tao
The purpose of this study is to examine Bitcoin's price behavior across market conditions, focusing on the influence of Bitcoin's historical prices, news sentiment and market…
Abstract
Purpose
The purpose of this study is to examine Bitcoin's price behavior across market conditions, focusing on the influence of Bitcoin's historical prices, news sentiment and market indicators like oil prices, gold and the S&P index. The authors also assess the stability of Bitcoin-inclusive hedging portfolios under different market conditions, for example, bearish, bullish and moderate market states.
Design/methodology/approach
This study uses the Quantile Autoregressive Distributed Lag model to explore the effects of different factors on Bitcoin's prices across various market situations. This method allows for a detailed analysis of historical trends, investor expectations and external market influences on Bitcoin's price movements and systematic stability.
Findings
Key findings reveal historical prices and investor expectations significantly influence Bitcoin in all market scenarios, with news sentiment exhibiting substantial volatility. This study indicates that oil prices have minimal impacts on Bitcoin, whereas gold is a stabilizing asset in bear markets, with the S&P index influencing short-term fluctuations. At the same time, Bitcoin's volatility varies with market conditions, proving more efficient as a hedging tool in bear and stable markets than in bull ones.
Originality/value
This study highlights the intrinsic correlation between Bitcoin's prices, news sentiment and financial market indicators, enhancing understanding of Bitcoin's market dynamics. The authors demonstrate Bitcoin's weak direct correlation with commodities like oil, the stabilizing role of gold in crypto portfolios and the stock market's indirect effect on Bitcoin prices. By examining these factors' impacts across various market conditions, the findings offer strategies for investors to improve hedging and portfolio management in cryptocurrency markets.
Details
Keywords
Guodong Ni, Qi Zhou, Xinyue Miao, Miaomiao Niu, Yuzhuo Zheng, Yuanyuan Zhu and Guoxuan Ni
New generation of construction workers (NGCWs) who were born in the 1980s and later have gradually become the main workforce of Chinese construction industry. They may behave…
Abstract
Purpose
New generation of construction workers (NGCWs) who were born in the 1980s and later have gradually become the main workforce of Chinese construction industry. They may behave differently when dealing with knowledge-related activities due to divergent characteristics caused by generational discrepancy. To provide a theoretical foundation for construction companies and safety managers to improve safety management, this research explores the factors and paths impacting the NGCWs' ability to share their safety knowledge.
Design/methodology/approach
Based on literature review, main factors that influence the safety knowledge sharing of the NGCWs were identified. Decision-Making Trial and Evaluation Laboratory and Interpretive Structural Modeling were applied to identify the hierarchical and contextual relations among the factors influencing the safety knowledge sharing of the NGCWs.
Findings
The results showed that sharing atmosphere ranked first in centrality and had a high degree of influence and being influenced, indicating itself an extremely important influencing factor of safety knowledge sharing of NGCWs. Six root influencing factors were identified, including individual characteristics, work pressure, sharing platform, incentive mechanism, leadership support and safety management system.
Research limitations/implications
The number of influencing factors of safety knowledge sharing of the NGCWs identified in this study is limited, and the data obtained by the expert scoring method is subjective. In future studies, the model should be further developed and validated by incorporating experts from different fields to improve its integrity and applicability.
Practical implications
The influencing factors identified in this paper can provide a basis for construction companies and safety managers to improve productivity and safety management by taking relevant measures to promote safety knowledge sharing. The research contributes to the understanding knowledge management in the context of the emerging market. It helps to answer the question of how the market can maintain the economic growth success through effective knowledge management.
Originality/value
This paper investigates the influencing factors of NGCWs' safety knowledge sharing from the perspective of intergenerational differences, and the 13 influencing factor index system established expands the scope of research on factors influencing safety knowledge sharing among construction workers and fills the gap in safety knowledge sharing research on young construction workers. Furthermore, this paper establishes a multi-layer recursive structure model to clarify the influence path of the influencing factors and contributes to the understanding of safety knowledge sharing mechanism.