The politically unstable economies have high and volatile sovereign spread. The purpose of this paper is to investigate the impact of geopolitical uncertainty on sovereign bond…
Abstract
Purpose
The politically unstable economies have high and volatile sovereign spread. The purpose of this paper is to investigate the impact of geopolitical uncertainty on sovereign bond yields.
Design/methodology/approach
The sovereign yields at various maturities were decomposed into three factors, namely, level, slope and curvature, using the Dynamic Nelson Siegel model. The relationship between geopolitical uncertainty and the yield curve factors was examined using a quantile causality test.
Findings
The study found that at the extreme high-rate regime, geopolitical uncertainty causes the yield curve factors positively, indicating bond investors demand a higher return for geopolitical uncertainty. On the other hand, during extreme low-rate regime geopolitical causes the short- and medium-term factors negatively. The extreme low-rate regime indicates the period of economic slowdown. During this regime, the central banks try to reduce the short-term rates to stimulate growth.
Originality/value
This is one of the few papers that investigates the relationship between the geopolitical risk and sovereign bond yields at the various maturities and interest rate regimes. Understanding the relationship between the geopolitical risk and short-term rates would help the central banks the efficacy of their policy actions. The long-term rates are influenced by the global investor preferences; examining the relationship with the long-term rates would help the investors frame the trading strategies.
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Madhumita Chakraborty and Sowmya Subramaniam
The study examines the cross-sectional and asymmetric relationship of investor sentiment with the stock returns and volatility in India.
Abstract
Purpose
The study examines the cross-sectional and asymmetric relationship of investor sentiment with the stock returns and volatility in India.
Design/methodology/approach
The investor sentiment is captured using a market-based measure Market Mood Index (MMI) and a survey-based measure Consumer Sentiment Index (CSI). The asymmetric effect of the relationship is examined using quantile causality approach and cross-sectional effect is examined by considering indices such as the BSE Sensex, and the various size indices such as BSE Large cap, BSE Mid cap and BSE Small cap.
Findings
The result of the study found that investor sentiment (MMI) cause stock returns at extreme quantiles. Lower sentiment induces fear-induced selling, thereby lowers the returns and high sentiment is followed by lower future returns as market reverts to fundamentals. On the other hand, bullish shifts in sentiment lower the volatility. There exists a positive feedback effect of stock return and volatility in the formation of investor sentiment.
Originality/value
The study captures both asymmetric and cross-sectional relationship of investor sentiment and stock market in an emerging economy, India. The study uses a novel data set (i.e.) MMI which captures the sentiment based on market indicators and are widely disseminated to the public.
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Sowmya Subramaniam and Madhumita Chakraborty
The purpose of this paper is to capture the investors' mood related to the COVID-19 pandemic and analyze its impact on the stock market returns.
Abstract
Purpose
The purpose of this paper is to capture the investors' mood related to the COVID-19 pandemic and analyze its impact on the stock market returns.
Design/methodology/approach
To capture the investor mood related to the COVID-19 pandemic, the authors construct a unique COVID-19 fear index based on the Search Volume Index (SVI) from Google Trends (http://www.Google.com/trends/) of the search terms related to COVID-19 words and phrases as revealed by Google and Internet dictionaries. The COVID-19 fear index was used to investigate its impact on the stock market returns.
Findings
The study finds a strong negative association between COVID-19 fear and stock returns. Unlike other studies, the relationship is persistent for a significant period. This relationship is not found to reverse in the following days. The results also highlight that COVID-19 fear strongly impacts the stock market. The sentiment persists for a significant period and is not reversed soon, unlike the regular times in earlier studies.
Originality/value
The study is among the very few studies that constructed COVID-19 fear index using several Google search terms and captured its impact on the stock market returns.
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Sowmya Subramaniam and Krishna P. Prasanna
The purpose of the paper is to investigate the global and regional influences on the domestic term structure of nine Asian economies.
Abstract
Purpose
The purpose of the paper is to investigate the global and regional influences on the domestic term structure of nine Asian economies.
Design/methodology/approach
The dynamic Nelson Siegel model was used to extract the latent factors of a country’s yield curve movements in a state-space framework using the Kalman filter. The global and regional factors of the yield curve were extracted using the dynamic factor model. Further, the Bayesian inference of Gibbs sampling approach was used to identify the influence of global and regional factors on the domestic yield curve.
Findings
The results suggest that financial integration does not reduce the control of monetary authorities on the front end of the yield curve, and long-term interest rate is the potential transmission channel through which the contagion of the financial crisis spreads.
Practical implications
The results of this study would help the monetary authorities to understand the efficacy of the monetary policy transmission mechanism. It also offers the global investors diversification opportunities for investing in the Asian bond markets.
Originality/value
It is one of the earliest attempts to capture the global and regional yield curve movements and their impact on the emerging Asian economies yield curve. It contributes to literature by identifying the linkages in the long-term factor that is the potential channel through which crisis spreads.
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Francesca Dal Mas and Paola Paoloni
Female entrepreneurship has been part of the political agenda internationally. Public entities should promote entrepreneurship in general, and female entrepreneurship in…
Abstract
Purpose
Female entrepreneurship has been part of the political agenda internationally. Public entities should promote entrepreneurship in general, and female entrepreneurship in particular, with dedicated resources and programs. Female entrepreneurs are considered a key asset for developing economic growth. However, women experience much more difficulties than men in opening their own ventures. Relational capital is particularly relevant when it comes to female entrepreneurship. The purpose of this study is to analyze the factors that affect the opening of new ventures and the role of relational capital in female entrepreneurship, taking into consideration the Italian context during the financial crisis.
Design/methodology/approach
This study uses a mixed-method approach analyzing data from a regional program to enhance the creation of new companies, trying to understand the issues of potential entrepreneurs in general and women in particular. A single case is then investigated using the characteristics – ambience – organization – sustainability model of micro-entrepreneurship and the network relationship model by Paoloni (2011).
Findings
The analysis highlights how women face much more difficulties in starting new ventures concerning their previous experience if their employment condition finds an extended period of inactivity. Additionally, potential female entrepreneurs are more sensitive to the complexity of the initiative, concerning the required investment and the number of employees, compared to male entrepreneurs. Relational capital is a crucial asset in fostering the success of the venture, especially in the start-up phase.
Originality/value
The purpose of the study is to contribute to the debate regarding the issues affecting the opening of new companies, as well as the link between relational capital and female enterprises. The paper offers some insights about a program covering a well-sized population during the financial crisis.
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Clarice Secches Kogut and Kais Mejri
The present study seeks to investigate female entrepreneurship in turbulent times (COVID-19) and contexts (emerging markets).
Abstract
Purpose
The present study seeks to investigate female entrepreneurship in turbulent times (COVID-19) and contexts (emerging markets).
Design/methodology/approach
An in-depth, multiple-firm (five SMEs), cross-country (2 countries – Brazil and Tunisia), cross-region (Latin America and the MENA region) case study based on a mixed embeddedness perspective.
Findings
The study highlights how challenges and uncertainties are managed, what inspires female entrepreneurs and what frightens them. We capture these entrepreneurs' insecurities, self-doubts and creative survival strategies. Our findings reinforce the need for self-efficacy and resilience, as well as the importance of a support network and the ability to “reboot” whenever needed. Despite persistent patriarchal norms and cultures, the women surveyed did not see themselves as female entrepreneurs but as successful entrepreneurs, akin to their male counterparts.
Research limitations/implications
Academically, the study contributes to the fields of entrepreneurship, female entrepreneurship and crisis management with empirical evidence in new contexts (LATAM and MENA regions) and times (collected during a crisis). The results also contribute in a practical way to female entrepreneurs, policy makers and global agencies.
Originality/value
The study's originality arises from a qualitative cross-country comparison of findings from internationally minded companies from under-researched developing countries and regions at an especially interesting and turbulent time: the pandemic of 2020.
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Leanne Bowler, Irene Lopatovska and Mark S. Rosin
The purpose of this study is to explore teen-adult dialogic interactions during the co-design of data literacy activities in order to determine the nature of teen thinking, their…
Abstract
Purpose
The purpose of this study is to explore teen-adult dialogic interactions during the co-design of data literacy activities in order to determine the nature of teen thinking, their emotions, level of engagement, and the power of relationships between teens and adults in the context of data literacy. This study conceives of co-design as a learning space for data literacy. It investigates the teen–adult dialogic interactions and what these interactions say about the nature of teen thinking, their emotions, level of engagement and the power relationships between teens and adults.
Design/methodology/approach
The study conceives of co-design as a learning space for teens. Linguistic Inquiry and Word Count (LIWC-22), a natural language processing (NLP) software tool, was used to examine the linguistic measures of Analytic Thinking, Clout, Authenticity, and Emotional Tone using transcriptions of recorded Data Labs with teens and adults. Linguistic Inquiry and Word Count (LIWC-22), a natural language processing (NLP) software tool, was used to examine the linguistic measures of Analytic Thinking, Clout, Authenticity and Emotional Tone using transcriptions of recorded Data Labs with teens and adults.
Findings
LIWC-22 scores on the linguistic measures Analytic Thinking, Clout, Authenticity and Emotional Tone indicate that teens had a high level of friendly engagement, a relatively low sense of power compared with the adult co-designers, medium levels of spontaneity and honesty and the prevalence of positive emotions during the co-design sessions.
Practical implications
This study provides a concrete example of how to apply NLP in the context of data literacy in the public library, mapping the LIWC-22 findings to STEM-focused informal learning. It adds to the understanding of assessment/measurement tools and methods for designing data literacy education, stimulating further research and discussion on the ways to empower youth to engage more actively in informal learning about data.
Originality/value
This study applies a novel approach for exploring teen engagement within a co-design project tasked with the creation of youth-oriented data literacy activities.
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Norman Rudhumbu, EC (Elize) du Plessis and Cosmas Maphosa
The purpose of this paper is to investigate challenges faced by and opportunities open to women entrepreneurs in Botswana and how entrepreneurship education can boost their…
Abstract
Purpose
The purpose of this paper is to investigate challenges faced by and opportunities open to women entrepreneurs in Botswana and how entrepreneurship education can boost their knowledge and skills of doing business profitably and contribute to women empowerment.
Design/methodology/approach
In total, 400 women entrepreneurs of different ages, educational levels and from trades and different geographical locations were selected using a stratified random sampling procedure to participate in the study from ten towns and cities in the country. A structured questionnaire that used a five-point Likert scale was used for data collection. One-way ANOVA, regression analysis and descriptive statistics were used as tools for data analysis.
Findings
Findings showed that women entrepreneurs faced a complex web of challenges among which were access to finance, lack of training leading to lack of technical skills, lack of knowledge of sources of financing and technical support, high competition in the market, marginalisation of women and lack of knowledge of marketing strategies. The key findings were that while women entrepreneurs faced a number of challenges, the legal and regulatory environment in Botswana was highly conducive and supportive of women entrepreneurship and also that customised entrepreneurship education and training offered opportunities for women entrepreneurs to enhance their knowledge and technical skills.
Research limitations/implications
The study only used a quantitative approach to collect data. It could have perhaps been more enriching if a mixed-methods approach were used to help probe the participants more. The study also only used women entrepreneurs in cities and towns. Perhaps, it could have also got some women entrepreneurs from rural areas to hear what they say. These limitations will be addressed in future studies.
Practical implications
Practical implications of the study are that women entrepreneurs need more training in business entrepreneurship for them to gain more knowledge and skills; finance houses become more accommodating to women entrepreneurship they could help in the empowerment of these people as they show potential in their businesses; and if more pro-women entrepreneurship policies are developed, they could enhance the activities of women entrepreneurs.
Social implications
Women can perform as much as men in business if given the necessary support.
Originality/value
This study contributes to the body of knowledge on women entrepreneurship as it helped expose challenges women entrepreneurs face as well as opportunities for them to take advantage of and improve their business operations.
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Prakash Kumar Gautam, Dhruba Kumar Gautam and Rakshya Bhetuwal
This study aims to analyse the role of work–life balance (WLB) experiences and job satisfaction on turnover intentions (TI) among nurses working in private sector hospitals.
Abstract
Purpose
This study aims to analyse the role of work–life balance (WLB) experiences and job satisfaction on turnover intentions (TI) among nurses working in private sector hospitals.
Design/methodology/approach
The research followed the analytical research design with a self-administered questionnaire survey using a five-point Likert scale. Responses from 386 nurses working in different positions in private sector hospitals were collected. The collected data were examined using descriptive and inferential statistics using structural equation modelling. Data validation, path coefficient analysis and a mediation effect test were conducted using Smart PLS 4 with a 5% significance level. WLB was examined with three dimensions: work interference with personal life, personal life interference with work and work–personal life enhancement.
Findings
The study established a significant relationship between personal life interference with work and work–personal life enhancement with job satisfaction. Also, the result revealed a significant negative relationship between interferences of WLB and TI. The study also established a partial and full mediation of job satisfaction about two WLB dimensions with TI.
Originality/value
This research suggests emphasizing WLB and job satisfaction to discourage TI. This research can be used by managers and policymakers alike to improve the scenario and take measures accordingly. This study also provides theoretical implications based on the boundary theory.
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Chirihane Gherbi, Zibouda Aliouat and Mohamed Benmohammed
In particular, this paper aims to systematically analyze a few prominent wireless sensor network (WSN) clustering routing protocols and compare these different approaches…
Abstract
Purpose
In particular, this paper aims to systematically analyze a few prominent wireless sensor network (WSN) clustering routing protocols and compare these different approaches according to the taxonomy and several significant metrics.
Design/methodology/approach
In this paper, the authors have summarized recent research results on data routing in sensor networks and classified the approaches into four main categories, namely, data-centric, hierarchical, location-based and quality of service (QoS)-aware, and the authors have discussed the effect of node placement strategies on the operation and performance of WSNs.
Originality/value
Performance-controlled planned networks, where placement and routing must be intertwined and everything from delays to throughput to energy requirements is well-defined and relevant, is an interesting subject of current and future research. Real-time, deadline guarantees and their relationship with routing, mac-layer, duty-cycles and other protocol stack issues are interesting issues that would benefit from further research.