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Article
Publication date: 2 February 2024

Kobana Abukari, Erin Oldford and Vijay Jog

The authors evaluate the Sell in May effect in the Canadian context to comprehensively explore the Sell in May effect as well as its interactions with the size effect and risk and…

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Abstract

Purpose

The authors evaluate the Sell in May effect in the Canadian context to comprehensively explore the Sell in May effect as well as its interactions with the size effect and risk and with multiple indices.

Design/methodology/approach

The authors use ordinary least squares (OLS) regressions to examine the Sell in May effect and Huber M-estimation to handle potential outliers. They also use the generalized autoregressive conditional heteroskedasticity (GARCH) models to explore the role of risk in the Sell in May effect.

Findings

The results demonstrate that the Sell in May effect is present in all three main Canadian stock market indices. More telling, the anomaly is strongest in small cap indices and in indices that give equal weighting to small and large cap stocks. They do not find that the effect is driven by risk.

Originality/value

While several papers have explored the Sell in May phenomenon in several countries, little scholarly attention has been paid to this effect in Canada and to its interaction with the size effect. The authors contribute to the literature by examining of the interactions between Sell in May and the size effect in Canada. They examine the Sell in May effect using CFMRC value-weighted and equally weighted indices of all Canadian companies. They also incorporate in their analysis the role of risk.

Details

Managerial Finance, vol. 50 no. 7
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 2 May 2022

Ivelina Pavlova, Jeff Whitworth and Maria E. de Boyrie

This study explores the “Sell-in-May” effect in environmental, social and governance (ESG) indices and compares the seasonal effects in ESG equity indices with conventional equity…

460

Abstract

Purpose

This study explores the “Sell-in-May” effect in environmental, social and governance (ESG) indices and compares the seasonal effects in ESG equity indices with conventional equity indices.

Design/methodology/approach

The authors use ordinary least squares (OLS) models and M-estimation as a robustness check, as OLS estimates may be sensitive to outliers. The authors also employ bootstrap simulations to use the data efficiently and to test whether seasonal trading strategies can produce abnormal returns.

Findings

The regression results reveal that seasonal effects in USA ESG equity indices are similar to those in conventional equity indices. Higher returns are noticeable from November through April, mainly in ESG indices including small and medium capitalization stocks. When the authors extend the Sell-in-May strategy from October through April, the authors find that the seasonal effect is significant for multiple ESG indices, even after accounting for the January effect. Bootstrap simulations show that the Sell-in-May and Extended Sell-in-May strategies appear to beat a buy-and-hold strategy on a risk-adjusted basis and that this result is stronger in medium and small capitalization ESG indices.

Originality/value

Although previous research has considered the effectiveness of seasonal equity trading strategies and the general performance of ESG stocks, this is the first study to specifically examine the “Sell in May” effect in ESG indices. The authors also consider an “Extended” Sell-in-May strategy where stocks are purchased one month earlier and show that the strategy produces higher returns.

Details

Managerial Finance, vol. 48 no. 8
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 21 August 2017

Jens Kr. Steen Jacobsen and Antonio Miguel Nogués-Pedregal

The purpose of this paper is to outline and interpret social circles and networks of long-term visitors to Costa Blanca (Spain) and to analyse how the long-termers relate to…

233

Abstract

Purpose

The purpose of this paper is to outline and interpret social circles and networks of long-term visitors to Costa Blanca (Spain) and to analyse how the long-termers relate to Spanish nationals and compatriots in their (temporary) residence areas.

Design/methodology/approach

En route airport questionnaire survey to departing passengers.

Findings

The study indicates a presence of translocalism among many of the polyglot long-termers not tied to their native soil and having manifold links across national borders. Most of them socialise within compatriot leisurescape settings. Language skills are determinant. Many long-termers are “dual citizens”, feeling at home both here and there.

Research limitations/implications

Airport surveys can reach a broad range of people but must be kept simple because of time constraints. The different labels used by researchers to describe international mobility might not be comprehensive.

Practical implications

The paper is of interest to local authorities, planners, property developers and tourism destination service providers.

Social implications

The study confirms that some persons may be physically “in” a foreign culture while socially “outside” of that culture, or in society but not of it.

Originality/value

The research uniquely encompasses all types of long-termers in various locations, based on an airport survey. It offers new insights into patterns of social circles and language proficiencies of diverse international long-term arrivals in Mediterranean Spain.

Details

Tourism Review, vol. 72 no. 3
Type: Research Article
ISSN: 1660-5373

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Book part
Publication date: 19 October 2012

Antonio Aledo, Jens Kr. Steen Jacobsen and Leif Selstad

The Spanish region commercially branded as Costa Blanca has long been a popular destination for millions of holidaymakers from both northern Europe and Spain itself (Gaviria

Abstract

The Spanish region commercially branded as Costa Blanca has long been a popular destination for millions of holidaymakers from both northern Europe and Spain itself (Gaviria Labarta, 1974; Moreno Garrido, 2007). However, from the 1960s onward, these Mediterranean shores have also attracted thousands of people from northern Europe for other purposes, some as more or less permanent residents, and others as seasonal peripatetic visitors, traveling back and forth between their first, second or third homes (Aledo, 2008). In many ways, the increase in second home visits and long-term stays in areas such as Mediterranean Spain parallels well-known developments of seasonal and full-time retirement and other migration in North America to what has been termed the Sunbelt states (Mings & McHugh, 1995). The situation in Europe, however, is more complex, due, for instance, to the crossing of national borders, a variety of spoken languages, and possibly also for greater cultural differences. Certain parts of such flows are related to perceptions of diminishing distances and to the progress of internationalization processes in societies in general, where tourism and other long-distance mobilities are not only an outcome, but also a crucial catalyst.

Details

Culture and Society in Tourism Contexts
Type: Book
ISBN: 978-0-85724-683-7

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Article
Publication date: 2 October 2024

Michele Jacobsen, Nicole Neutzling, Liza Lorenzetti, Elizabeth Oddone Paolucci, Lorelli Nowell, Tracey Clancy, Georgina Freeman and Diane L. Lorenzetti

The purpose of the study was to examine graduate student perspectives on the common and unique roles peer mentors and supervisors play in supporting student success and wellbeing…

74

Abstract

Purpose

The purpose of the study was to examine graduate student perspectives on the common and unique roles peer mentors and supervisors play in supporting student success and wellbeing during their program.

Design/methodology/approach

A qualitative research design involving semistructured interviews with 62 thesis-based masters and doctoral students from four professional faculties, Education, Medicine, Nursing and Social Work, at a large public research-intensive university in Canada.

Findings

Findings transcend the four disciplines of study. Communities of support are described that involve both supervisors and peers in combination, clusters of meaning by supervisory paradigm are identified and original findings presented that expand upon the learning alliance framework by explicitly considering the role of peer mentors in graduate student success.

Research limitations/implications

While supervisors bear primary responsibility for fostering effective research-based relationships, this study’s findings strengthen the argument that mentoring and advising of graduate students is most effective when conducted within a collaborative community of support that involves learning alliances among faculty, peers, program staff and academic leaders across the institution.

Practical implications

A four-pronged approach to graduate education that emphasizes the collective responsibility of institutions, programs, supervisors and students in creating a supportive ecosystem for holistic graduate student academic success and wellbeing is recommended.

Social implications

Key argument that it is essential to embrace a collaborative and community of support mindset, where multiple stakeholders actively contribute to the wellbeing and academic development of graduate students throughout their programs.

Originality/value

A cross-disciplinary perspective is offered on the importance of both supervisors and peers in assisting thesis-based graduate students to successfully navigate academic, social and personal journeys through graduate school.

Details

Studies in Graduate and Postdoctoral Education, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-4686

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Book part
Publication date: 25 March 2021

Nickie D. Phillips and Nicholas Chagnon

Purpose: In this chapter, the authors posit that, shadowing the etiological crises in criminology, much crime media scholarship remains “lost in the mediascape.” The authors…

Abstract

Purpose: In this chapter, the authors posit that, shadowing the etiological crises in criminology, much crime media scholarship remains “lost in the mediascape.” The authors outline why dominant positivist methodologies in crime media scholarship leave us lost and offer tools that researchers may use for better wayfinding in this complex and dynamic environment.

Methodology/approach: Drawing on the concept of liquid criminology, the authors join a growing chorus in the crime media field calling for methodological and theoretical concepts more reflective of the social dimensions of liquid modernity, that is, uncertainty, ambiguity, impermanence, precarity, etc.

Findings: The conditions of liquid modernity inform a mediascape characterized by an abundance of data, misinformation, disinformation, propaganda, and conspiracy theories resulting in collective disorientation and the inability to form coherent narratives about the past, present, or future. As such, these conditions defy positivistic conventions like representative sampling and demand new, imaginative approaches to the study of crime media. To that end, informed by the cultural criminological perspective, the authors offer two methodologies and one theoretical concept.

Research limitations: The authors believe our methodological and theoretical suggestions are best suited for analyzing themes and concepts among discourse around crime incidents that have significant legal and social implications. The authors offer no definitive answers, but hope to begin building a better toolbox for wayfinding in this digital wilderness.

Originality/value: The currently dominant methodology within crime media scholarship is a poor fit with contemporary media culture. Here, the authors begin to remedy that by proposing an orientation that fits better with the fluid, uncertain, and dynamic media environment that permeates our social world.

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Article
Publication date: 9 August 2018

Doug Waggle and Pankaj Agrrawal

The purpose of this paper is to provide a plausible explanation for the “sell in May” anomaly observed in US stock markets. A heretofore unexplained strategy of selling stock in…

368

Abstract

Purpose

The purpose of this paper is to provide a plausible explanation for the “sell in May” anomaly observed in US stock markets. A heretofore unexplained strategy of selling stock in May and not returning to the market until November has been shown to outperform a simple strategy of buying and holding stock all year long.

Design/methodology/approach

The authors compare the seasonal performance of three US size-based portfolios for the May–October and November–April periods considering whether or not they were in years with US congressional elections, which occur every two years.

Findings

While the sell-in-May effect appears to persist in the long run, the authors find that the anomaly is not present in non-election years. There is no significant difference between the May–October and November–April stock returns in non-election years. The observed sell-in-May effect is driven by poor stock returns in the May–October periods leading up to US presidential or congressional elections and subsequent strong performance in the November–April periods immediately following elections.

Originality/value

The paper offers an election-year effect as an explanation of the sell-in-May anomaly that has been observed in the US stock market. Other possible explanations of the effect, such as seasonal affective disorder, the weather, and daylight savings time, have not gained widespread acceptance.

Details

Managerial Finance, vol. 44 no. 9
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 15 August 2016

Ryan Patten, Lucas Alward, Matthew Thomas and James Wada

The purpose of this paper is to examine a campus community’s knowledge and acceptance of their campus police as “real” police.

1326

Abstract

Purpose

The purpose of this paper is to examine a campus community’s knowledge and acceptance of their campus police as “real” police.

Design/methodology/approach

Using the liminality theoretical framework, this study surveyed students, faculty, staff, and administrators (n=1,484). Students were surveyed in-person, while staff, faculty, and administrators participated through an e-mail link to an online survey.

Findings

Results indicate that campus police are stuck in a liminal state. While 80 percent of the sample thought campus police should be armed, almost two-thirds (64 percent) did not know or were unsure of campus police officer tasks and three-quarters (75 percent) did not know or were unsure of campus police training requirements.

Research limitations/implications

The participants come from one university campus, so the generalizability of the sample is limited.

Originality/value

This study provides more evidence of the marginalization of campus police. Specifically, this study highlights that a majority of participants could not or were unable to identify campus police officers’ training and duties. Instead of using small qualitative samples, this study utilized over 1,400 participants on one campus, which provides more explanatory power about the perception problems of the campus police. This study also continues to advance and expand liminal theory.

Details

Policing: An International Journal of Police Strategies & Management, vol. 39 no. 3
Type: Research Article
ISSN: 1363-951X

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Book part
Publication date: 5 October 2017

Louise Gillies and Helen M. Burrows

Families conduct their affairs through processes that are built upon those of previous generations and also social capacities such as culture, class, oppression and poverty. The…

Abstract

Families conduct their affairs through processes that are built upon those of previous generations and also social capacities such as culture, class, oppression and poverty. The media has played a part in stereotyping the lower classes through their portrayal on the television programmes such as Benefits Street and Jeremy Kyle and tabloid newspaper stories. This chapter is a case study of two families who are at the opposing ends of the social scale, the Horrobin/Carter and Aldridge families. The two families were chosen due to them being linked by marriage in the younger generation. Through the use of genograms, we explore how the families differ in their attitudes towards relationships within their individual families, and also how they relate to each other as separate family groups. Despite the many differences, there are also a number of key similarities, particularly regarding the key females in the families, in terms of family background and snobbery. We also show that there is little family loyalty in the more privileged family and a power differential between the two families (oppressors vs. oppressed) in terms of the crimes committed.

Details

Custard, Culverts and Cake
Type: Book
ISBN: 978-1-78743-285-7

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Article
Publication date: 14 March 2016

Eduardo Oliveira

The purpose of this paper is to critically explore the role of place branding, specifically at the regional scale, as an instrument for the attainment of strategic spatial…

957

Abstract

Purpose

The purpose of this paper is to critically explore the role of place branding, specifically at the regional scale, as an instrument for the attainment of strategic spatial planning goals. It also aims to contribute to the academic debate on place branding by discussing its relevance and effectiveness in supporting economic and social spatial realignment through civic participation and the shaping of clearly envisioned agreed futures.

Design/methodology/approach

Exploratory in nature, this paper’s theoretical exploration is developed by detailing relevant findings from a case study on the significance of a regional branding initiative, integrated in a wider planning strategy for northern Portugal (NUTS II). In conducting this exploratory research, primary data were gathered through 16 in-depth, semi-structured interviews with key regional actors and organizations with a stake (and expertise) in the region.

Findings

Findings show the key strategic domains in which the region excels. These domains could fuel a potential regional branding initiative. However, the key regional actors interviewed agree that the diverse and fragmented regional assets and the socioeconomic scenario all require and yet hinder regional coordination efforts. In addition, territorial reorganization and the definition of a regional economic model, plus decentralization of decision-making and the establishment of leadership, are imperative for the effectiveness of a regional branding strategy aligned with the ongoing strategic spatial planning initiatives.

Practical implications

Managerial implications of integrating the opinions and perspectives of regional actors into a potential place-branding initiative as strategic spatial planning instrument include improving socio-spatial and spatial-economic condition of the region and envisioning shared futures.

Originality/value

By guiding the thoughts of scholars, practitioners and policymakers towards a strategic spatial planning approach to place branding, the paper contributes to the advancement and maturation of the place-branding field, by lending a more strategic approach and geographical/spatial consciousness to the process of place branding. The paper also sheds light on the challenges and complexity of branding regions, a scale of analysis seldom explored in place-branding literature.

Details

Journal of Place Management and Development, vol. 9 no. 1
Type: Research Article
ISSN: 1753-8335

Keywords

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