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Article
Publication date: 17 September 2024

Mustafa Kocoglu, Xuan-Hoa Nghiem and Ehsan Nikbakht

In this study, we aim to investigate the connectedness spillovers among major cryptocurrency markets. Moreover, we also explore to identify factors driving this connectedness…

Abstract

Purpose

In this study, we aim to investigate the connectedness spillovers among major cryptocurrency markets. Moreover, we also explore to identify factors driving this connectedness, particularly focusing on the sentimentality of total, short-term, and long-term return connectedness spillovers among cryptocurrencies under Twitter-based economic uncertainties and US economic policy uncertainty. Finally, we investigate the extent to which cryptocurrency markets serve as a safe haven, hedge, and diversifier from news-based uncertainties.

Design/methodology/approach

This study employs the connectedness approach following the combination of Ando et al. (2022) QVAR and Baruník and Krehlík's (2018) frequency connectedness methodologies into the framework proposed by Diebold and Yilmaz (2012, 2014). The data covered from November 10, 2017, to April 21, 2023, and the factors driving cryptocurrency connectedness spillovers are identified and examined. The sentimentality of total, short-term, and long-term return connectedness spillovers among cryptocurrencies, concerning Twitter-based economic uncertainties and US economic policy uncertainty, are analyzed. We apply the Wavelet quantile correlation (WQC) method developed by Kumar and Padakandla (2022) to explore the effects of Twitter-based economic uncertainties and US economic policy uncertainty on Cryptocurrency market connectedness risk spillovers. Besides, we check and present the robustness of WQC findings with the multivariate stochastic volatility method.

Findings

Our findings indicate that Ethereum and Bitcoin are net shock transmitters at the center of the connectedness return network. Ethereum and Bitcoin hold the highest market capitalization and value in the cryptocurrency market, respectively. This suggests that return shocks originating from these two cryptocurrencies have the most significant impact on other cryptocurrencies. Tether and Monero are the net receivers of return shocks, while Cardano and XRP exhibit weak shock-transmitting characteristics through returns. In terms of return spillovers, Ethereum is the most effective, followed by Bitcoin and Stellar. Further analysis reveals that Twitter economic policy uncertainty and US economic policy uncertainty are effective drivers of short-term and total directional spillovers. These uncertainty indices exhibit positive coefficient signs in short-term and total directional spillovers, which turn predominantly negative in different magnitudes and frequency ranges in the long term. In addition, we also document that as the Total Connectedness Index (TCI) value increases, market risk also rises. Also, our empirical findings provide significant evidence of Twitter-based economic uncertainties and US economic policy uncertainty that affect short-term market risks. Hence, we state that risk-connectedness spillovers in cryptocurrency markets enclose permanent or temporary shock variations. Besides, findings of the low value of long-term spillovers suggest that risk shocks in cryptocurrency markets are not permanent, indicating long-term changes require careful monitoring and control over market dynamics.

Practical implications

In this study, we find evidence that Twitter's news-based uncertainty and US economic policy uncertainty have a significant effect on short-term market risk spillovers. Furthermore, we observe that high cryptocurrency market risk spillovers coincide with periods of events such as the US-China trade tensions in January 2018, the Brexit process in February 2019, and the COVID-19 outbreak in November 2019. Next, we observe a decline in cryptocurrency market risk spillovers after March 2020. The reason for this mitigation of market risk spillover may be that the Fed's quantitative easing signals have initiated a relaxation process in the markets. Because the Fed's signal to fight inflation in March 2022 also coincides with the period when risk spillover increased in crypto markets. Based on this, we present evidence that the FED's communication mechanism with the markets can potentially affect both short- and long-term expectations. In this context, we can say that our hypothesis that uncertainty about the news causes short-term risks to increase has been confirmed. Our findings may have investment policy implications for portfolio managers and investors generally in terms of reducing financial risks.

Originality/value

Our paper contributes to the literature by examining the interconnectedness among major cryptocurrencies and the drivers behind them, particularly focusing on the role of news-based economic uncertainties. More broadly, we calculate the utilization of advanced methodologies and the incorporation of real-time economic uncertainty data to enhance the originality and value of the research, which provides insights into the dynamics of cryptocurrency markets.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 3 October 2023

Mustafa Daskin and Kenan Pala

The aim of this research study is to examine the role of emotional solidarity on religious tourism support. Data for the present research work were attained from various groups of…

Abstract

Purpose

The aim of this research study is to examine the role of emotional solidarity on religious tourism support. Data for the present research work were attained from various groups of residents in Amasya province/Türkiye.

Design/methodology/approach

The Google form-based questionnaires were self-managed by the participants. In the context of the survey, 306 complete questionnaires were gathered. For the data analysis, partial least squares structural equation modeling (PLS-SEM) technique was used via SmartPLS 4.0 software in conjunction with SPSS version 23.

Findings

The analysis results show that the emotional solidarity dimensions such as welcoming nature and sympathetic understanding were found to be positively related with religious tourism support at different coefficient levels; however, emotional closeness was not statistically related.

Originality/value

This study adds fresh insights into the field of tourist literature and has beneficial ramifications for business development in the area of religious tourism.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 19 June 2023

Okan Çolak and Halil Ibrahim Karakan

This study aims to determine museum experiences by analyzing the TripAdvisor reviews of the museum visitors in Gaziantep and offer suggestions for improving the visitors'…

Abstract

Purpose

This study aims to determine museum experiences by analyzing the TripAdvisor reviews of the museum visitors in Gaziantep and offer suggestions for improving the visitors' experiences by taking museum curators' opinions.

Design/methodology/approach

The case study method was used as one of the qualitative approaches in the study. The research comprises two stages. TripAdvisor reviews about five museums in Gaziantep were analyzed in the first stage, and museum curators' opinions on the visitor complaint reasons and solution suggestions were discussed in the second stage.

Findings

The study showed that satisfying or non-satisfying experience factors might differ according to visitors, museum curators and both visitors and museum curators. Therefore, each museum curator should effectively manage every component of visitor experience factors by its target audience.

Research limitations/implications

Although this study has some valuable findings and contributes to the literature, it also has limitations. The study's sample consists of five museums in Gaziantep. Further studies can be carried out on a larger population and sample. The data for determining visitor experiences, the first stage of the research, were obtained only from an online platform (TripAdvisor).

Practical implications

The proposed model provides a holistic perspective on evaluating and managing visitor experience. There may be structural problems (small size of the museum area, lack of parking spaces and elevators, etc.) with the museum beyond the manager's control. Also, the lack of information and communication (limited concept, lack of artifacts, etc.) causes criticisms of the museum.

Social implications

This paper contributes to the museum management literature with a model for enriching the quality of the museum experience and increasing the museum's attractiveness. The study showed that museums contribute to the visitor's experience in all dimensions. While visitors thought museums primarily contribute to object experience, museum curators thought museums contribute more to visitors' cognitive experience and other experience elements.

Originality/value

The present study analyzed the visitor comments and the opinions of museum curators from a holistic perspective, considering the internal and external factors that are effective in the visitor experience, and revealed the reasons for the visitors' negative experience and the solution suggestions toward the improvement of the visitor experience.

Details

Journal of Hospitality and Tourism Insights, vol. 7 no. 4
Type: Research Article
ISSN: 2514-9792

Keywords

Article
Publication date: 28 May 2020

Takawira Munyaradzi Ndofirepi

This study aims to examine how spatial contexts, institutions and entrepreneurial self-identity affected the formation of entrepreneurial intentions of a sample of students in…

Abstract

Purpose

This study aims to examine how spatial contexts, institutions and entrepreneurial self-identity affected the formation of entrepreneurial intentions of a sample of students in Zimbabwe.

Design/methodology/approach

Data were obtained from 284 students enrolled in two vocational education institutions located in Midlands Province of Zimbabwe. To select the respondents, convenience sampling was used. The sample size was determined by the total number of students agreeing to participate in the research. Hypotheses were tested using structural equation modelling (maximum likelihood estimation method).

Findings

Social approval, supportive cultural environment and entrepreneurial self-identity had positive statistically significant direct effects on entrepreneurial intentions. Also, entrepreneurial self-identity partially mediated the effects of social approval and supportive cultural environment on entrepreneurial intentions. The total effect of supportive higher education institutions on entrepreneurial intentions was statistically significant, despite the direct and indirect effects being non-significant.

Practical implications

The findings suggest a need to cultivate supportive social contexts and higher education institutions for nurturing entrepreneurial self-identity and entrepreneurial intentions, factors that are integral to the development of future entrepreneurs.

Originality/value

The study examined the validity of a novel conceptual model based on the contribution of entrepreneurial self-identity, spatial context and institutional variables in shaping entrepreneurial intentions of selected college students in the global south.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 13 no. 2
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 18 July 2024

Francis Kamewor Tetteh, Benjamin Nyantakyi, Kwame Owusu Kwateng and Hannah Vivian Osei

This study examined the mediation-moderation role of innovation and market dynamism in the association between total quality management (TQM) practices and the performance of…

Abstract

Purpose

This study examined the mediation-moderation role of innovation and market dynamism in the association between total quality management (TQM) practices and the performance of small and medium-scale enterprises' (SMEs') performance with empirical evidence from sub-Saharan Africa.

Design/methodology/approach

Using a questionnaire, the research model developed was tested with responses from 203 owners and managers of SMEs in Ghana. The analyses were done using Statistical Package for the Social Sciences (SPSS) and Smart Partial Least Squares Structural Equation Modeling (PLS-SEM).

Findings

The innovation initiatives partially and fully mediated the relationship between TQM practices and the performance of SMEs. Also, the indirect effect of TQM practices of SMEs on performance through innovation initiatives was negatively moderated by market dynamism.

Practical implications

The study contributes to the TQM literature by validating the indirect and direct relationship between TQM practices and performance in the context of SMEs in a developing region.

Originality/value

This paper presents a novel understanding of the relationship between TQM and SMEs in developing regions of the world. The paper serves as a guide for SME owners and managers to improve the performance of their organizations through TQM practices.

Details

International Journal of Quality & Reliability Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0265-671X

Keywords

Article
Publication date: 20 June 2024

Safwan Kamal, Nanda Safarida and Erne Suzila Kassim

The purpose of this study is to develop and assess the effects of unified theory of acceptance and use of technology (UTAUT 2) constructs – effort expectancy (EE), social…

Abstract

Purpose

The purpose of this study is to develop and assess the effects of unified theory of acceptance and use of technology (UTAUT 2) constructs – effort expectancy (EE), social influence (SI) and hedonic motivation (HM) – on behavioural intention (BI), as well as the impact of innovation resistance theory (IRT) constructs – usage barrier (UB) and tradition barrier (TB) – on innovation resistance (IR) behavior in the context of digital zakat payment in Aceh. In addition, this study also examines how knowledge of fiqh zakat influences both BI and IR.

Design/methodology/approach

This was a quantitative study including 350 Acehnese persons who paid zakat online. This research used a Likert scale, and the sampling technique was purposive sampling applied for the Acehnese people. The research respondents were civil servants, private employees, BUMN employees (employees of State-Owned Enterprises), merchants, restaurant owners, professionals and other occupations who had paid professional zakat through a digital system mechanism. The data were analysed using partial least squares structural equation modelling.

Findings

This research found that the constructs built through the theory of UTAUT 2 explained the position of the EE variable, which had a significant effect on BI. On the other hand, the variable of SI and HM did not significantly affect BI in digital zakat payment. This finding demonstrated that BI significantly influenced actual usage (AU). UB and TB had no impact on IR, according to the theoretical framework developed by IRT. Yet, the knowledge about the fiqh zakat (KFZ) significantly affected the AU. In terms of the moderation role, the KFZ variable moderated the relationship between BI and AU. However, the KFZ variable did not moderate the relationship between IR and AU.

Research limitations/implications

This research had limitations and could still be investigated further by involving a larger sample. This study does not include all UTAUT 2 and IRT constructs, but only involves UTAUT 2 and IRT constructs based on the phenomenon of digital zakat paying behavior in the people of Aceh.

Practical implications

This research had a managerial contribution and an evaluation of the use of digital zakat collection services in Aceh and zakat management institutions in various countries. The existence of significant EE should be a reference for zakat institutions to produce continuous payment applications with a higher level of convenience in the future. In addition, the government should encourage more organised fiqh zakat education in society to plan a more optimal zakat collection. The reason for this is that KFZ has been shown to moderate zakat intentions towards actual digital zakat payment behaviour.

Social implications

The results of this study were then accommodated by the government to design a digital zakat collection system so that it resulted in optimising the collected zakat funds. The greater the zakat funds collected, the greater the economic impact and social resilience of the community was in the midst of the post-covid and global crisis.

Originality/value

This research provided an essential value in the aspect of collecting zakat funds, especially in the study of the behaviour of paying zakat digitally. The theory of planned behaviour predominated in earlier studies that investigated zakat-paying behaviour. Yet, this research was even more focused as it used the constructs of UTAUT 2 and IRT theory and applied the involvement of a moderator variable like fiqh zakat knowledge that was barely discussed.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 1 November 2019

Taghreed Abu Salim, Balan Sundarakani and Flevy Lasrado

The purpose of this paper is to study the role of slack (both moderating and mediating) to stimulate the relationship between total quality management (TQM) factors and innovation…

1459

Abstract

Purpose

The purpose of this paper is to study the role of slack (both moderating and mediating) to stimulate the relationship between total quality management (TQM) factors and innovation outcomes relative to gaining competitive industry advantages.

Design/methodology/approach

The research methodology includes a multi-item scale questionnaire completed in three waves between 2016 and 2017, and later analysed in 2018. A final response rate of 29.5 per cent was obtained, representing 190 organisations from both manufacturing and service industries in the United Arab Emirates (UAE). Partial least squares structural equation modelling was used to test the multi-collinearity, moderation and mediation analysis.

Findings

Analysis confirmed that factors such as continuous improvement (CI), human resource management (HRM) and information measurement (IM) were positively linked to innovation. However, when slack was introduced as a moderator, innovation outcomes were stimulated through HRM and IM. The results indicate that slack acts as a full mediator for management leadership but only partially mediates supplier quality, IM, CI, HRM and process management.

Research limitations/implications

In terms of geographical coverage, research was limited to the UAE. Organisations striving for excellence through innovation may benefit from the outcomes, as they help in understanding the relationship between TQM and innovation moderated and/or mediated by slack. This could also lead businesses to develop new strategies that harmonise TQM policies with “rationale” slack policies, thus, promoting innovation.

Originality/value

This study is the first to examine the use of slack to stimulate the relationship between TQM factors and innovation outcomes. Using slack as a mediator can help in understanding when TQM might influence innovation, while slack as a moderator could invert the relationship between the two.

Details

The TQM Journal, vol. 31 no. 6
Type: Research Article
ISSN: 1754-2731

Keywords

Article
Publication date: 16 March 2022

Hiba Birgach and Badr Habba

The purpose of this paper is to explore the main factors of family harmony in Moroccan family businesses.

Abstract

Purpose

The purpose of this paper is to explore the main factors of family harmony in Moroccan family businesses.

Design/methodology/approach

Exploratory approach based on face-to-face interviews was employed to examine how Moroccan family firm owners perceive the main factors of preserving family harmony in the long term.

Findings

In the present exploratory study, the importance of having an open communication among family members is emphasized. The findings that were reached suggest that the relationship between family members must be built on trust and commitment, without neglecting the importance of autonomy at work including division of tasks. Furthermore, the respect of the family and the business emerged as one of the most paramount components of our exploratory study.

Originality/value

Based on our exploratory study, the authors developed a model of the main factors of family harmony in the Moroccan family business considering the culture and habits of the country.

Details

Journal of Family Business Management, vol. 13 no. 2
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 15 March 2024

Veysel Yilmaz and Yelda Sürmeli̇oğlu

In this study, the service quality of an automobile authorized service center was investigated based on the European Customer Satisfaction Index (ECSI) model. The ECSI model…

Abstract

Purpose

In this study, the service quality of an automobile authorized service center was investigated based on the European Customer Satisfaction Index (ECSI) model. The ECSI model includes image, customer expectations, perceived quality, perceived value, customer satisfaction, customer complaints and customer loyalty.

Design/methodology/approach

In the study, an attempt was made to improve the ESCI model by adding the trust factor as a moderating variable. After an extensive literature review, measurement questions were developed to best represent the factors in the research model. Partial least squares structural equation modeling (PLS-SEM) was used to test the fit of the research model and test the hypotheses.

Findings

As a result of the analysis, only one of the 13 hypotheses tested was not supported. According to the results of hypothesis testing, the highest effect was found in the relationship between customer satisfaction customer complaints, customer expectations and perceived quality. In addition, customer expectations affect customer satisfaction indirectly rather than directly. In this case, customer expectations, perceived value and perceived quality influence customer satisfaction.

Practical implications

The customer satisfaction quality index score of the authorized automobile service whose service quality was measured was calculated as 72.75. Although customers were generally satisfied with the authorized service, their expectations were not fully met.

Originality/value

In the study, an attempt was made to improve the ECSI model by adding a trust factor. Trust, which was added to the model as a moderator variable, fit the model. As a result, it was revealed that trust has an increasing regulatory effect on the relationship between perceived quality and customer satisfaction.

Details

The TQM Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-2731

Keywords

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