bluuebunny/crossref_metadata_2025_split huggingface dataset:
A first look at the properties of India's volatility index
Authors: Kumar S.S.S. 
Published: March 2012

PurposeThe purpose of this paper is to examine the statistical properties of the volatility index of India, India Vix (Ivix), its relationship with the Indian stock market and its predictive power for forecasting future variance. Further, the paper examines the volatility transmission between India and developed markets.Design/methodology/approachThe study uses quantile regression and VAR techniques to examine the empirical issues.FindingsThe results of the study show that Ivix returns are negatively related to stock market returns and the leverage effect is only significant around the middle of the joint distribution. The asymmetric response of Ivix is also not observed in the left tail and is significant again around the centre of the distribution. Monthly volatility forecasts obtained from Ivix contain important information about future market volatility. Finally, overnight volatility movements from the US market have significant effect on the Indian market's volatility and transmission in opposite direction was not observed.Practical implicationsIf Ivix is included in a stock portfolio when the market moves up, Ivix may not fall significantly, consequently, the portfolio returns are not negatively effected. But, when market declines sharply, i.e. for large losses, Ivix may not move up significantly in the opposite direction, thereby not providing the much‐needed insurance to the portfolio returns. But for normal/average market declines, volatility derivatives on Ivix may be useful as portfolio insurance tools.Originality/valueThe paper is novel in employing quantile regression methodology to examine the empirical relationships of a volatility index. Volatility spillovers between emerging and developed markets are studied using volatility indices that are ex ante.
Interest rate, unemployment rate and China's exchange rate regime
Authors: Fu Tze‐Wei , Lin Monli 
Published: March 2012

PurposeThe purpose of this paper is to discuss the change in China's exchange rate regime during the 2001‐2009 period, when both the pegged and floating exchange rates were adopted in the country, offering a rare opportunity to address the issue. The effects of China's interest rate differential (IRD) and unemployment rate on the exchange rate are also discussed in this paper.Design/methodology/approachGiven the economic variables are non‐stationary, this paper adopts cointegration analysis to evaluate the long‐term equilibrium in China's economy, with the unit root test, cointegrating test and a vector error correction model also used to scrutinize China' exchange rate regime for different time periods.FindingsThe time series data – including the exchange rate, IRD and unemployment rate – are used in the unit root test and Johansen test to verify the long‐term equilibrium between real exchange rate and unemployment rate in specific periods of time. Since the findings indicate no correlation between the exchange rate and IRD, it is possible to predict the value of Chinese yuan based on China's unemployment rate, but not IRD. China's government slows down the appreciation of its currency when the lagged unemployment rate is high.Originality/valueThe paper provides a fresh perspective on the long‐term equilibrium among China's exchange rate, IRD and unemployment by dividing the sample period into several parts, according to the exchange rate policy. The findings indicate that the unemployment rate plays an important role in China's exchange rate regime.
Facebook usage patterns and school attitudes
Authors: Koles Bernadett , Nagy Peter 
Published: March 2012

PurposeThe purpose of this paper is to explore teenagers' and young adults' use of social networking sites (SNS), in light of certain personal, social and educational outcomes and attitudes.Design/methodology/approachData were gathered on the basis of surveys, and were analyzed through a series of multivariate models.FindingsIt was found that participants' reasons and motivations for online presence varied as a function of gender and age. Different degrees of Facebook usage were linked with different school‐related attitudes. More specifically, more extensive usage was associated with more negative school and peer attitudes; more so for females and for college students. Furthermore, greater reliance on online interactions for social and emotional support was found disadvantageous for college students, while neutral or in some cases beneficial for high school students.Research limitations/implicationsGender and educational level appear to be important factors explaining some of the variation in school‐related attitudes, and thus should be explored separately.Practical implicationsThe differential impact of online presence on school attitudes for college and high school students highlights the need for teachers and student advisors to be sensitive to such transitional groups.Social implicationsThe authors found that more popular students, those often viewed as “opinion leaders”, tended to show more negative school outcomes than less popular students in general; a relevant point for organizations.Originality/valueFacebook usage and school‐related attitudes were observed simultaneously in high school and college populations studying in Budapest, Hungary.
Students' orientation towards interpersonal communication in online social networking sites
Authors: Kazeem Kayode Bakare , Zamzami Ikhlas F. , Olowolayemo Akeem 
Published: March 2012

PurposeAs computer‐mediated communication has diffused, successive technological variations raise new questions about interpersonal impressions and several standardized instruments have been advanced in literature to asses various aspect of interpersonal attraction phenomena. The purpose of this paper is to examine the claims for reliability and validity of the attraction scales by using confirmatory factor analysis (CFA) in the light of research since 1974 which has employed the scales, and then improve the measures if needed.Design/methodology/approachRandom sampling procedure was carried out in two kulliyahs (Faculty) at International Islamic university Malaysia (IIUM), in which 340 students were selected from a population of 2,000 undergraduate students. A total of 26 items were tested from an instrument that has been used in previous studies; each item is expected to measure one of the three orientations' dimensions.FindingsThe analysis result confirms that the orientation of students towards interpersonal communication in online social network sites (SNS) is a multi‐dimensional construct consisting of social attraction, physical attraction and task attraction. In addition, since substantial numbers of research studies have been reported to have employed one or more of these measures, this research was examined to evaluate their reliability and validity.Research limitations/implicationsSince the reliabilities found in literatures have been highly varied, it was determined that improved measures should be used in the future. Thus, a revised and improved version of these measures, using CFA, are reported and recommended in this paper for future research.Originality/valueThe paper has produced a second‐generation measure with substantially improved internal reliability and validity. The paper's most important and obvious conclusion is that interpersonal attraction does appear to be a multidimensional construct.
Collaborative international education: reaching across borders
Authors: Hilgers Michael G. , Flachsbart Barry B. , Elrod Cassandra C. 
Published: March 2012

PurposeAs international boundaries fade and financial pressures increase, universities are redefining the norm in educational models. The move from a synchronous classroom to a blended classroom or a completely asynchronous environment has forced faculty to be creative in delivery while overcoming complexities in the associated infrastructure. Furthermore, geographic boundaries have diminished, leaving universities seeking ways to reach out to growing student markets, such as South‐east Asia. However, this rapid international growth and nearly constant revision of delivery has raised serious questions regarding the maintenance of the quality and reputation of the institution. This is particularly challenging for science, technology, engineering, and mathematics (STEM) programs requiring laboratory facilities, commercial software, and detailed, highly interactive theoretical analysis. The purpose of this paper is to describe the evolution, in the aforementioned environment, of a science, technology, engineering and mathematics (STEM)‐centric university.Design/methodology/approachThis paper will examine an example of using a local provider in an international setting to deliver content originating from three universities collaborating to deliver a single STEM degree.FindingsThe question of quality of education is found to overshadow this entire process, particularly given the strict constraints placed by accrediting organizations.Originality/valueThe example under consideration has addressed these issues in a variety of means, that is examined through the course of this paper as a case analysis.
Technology/infrastructure diffusion of natural gas vehicles: the case of Shanghai
Authors: Chi Chunjie , Ma Tieju , Ning Fujin 
Published: March 2012

PurposeDiffusion of a new technology and its required infrastructure is a complex process involving various adaptive decision makers interacting with each other, and this is extremely true in diffusion of alternative fuel vehicles. The purpose of this paper is to explore the dynamics of alternative fuel vehicles/infrastructure diffusion through a case study about the diffusion of NGVs (natural gas vehicles) in Shanghai, China.Design/methodology/approachThis paper first provides a case study of the adoption of NGVs in Shanghai; then the major infrastructure and economic indicators, obstacles in the market penetration process are analyzed. Finally, an agent‐based model is established to simulate the diffusion of NGVs in Shanghai.FindingsThe findings show that several factors limited the adoption of NGV in Shanghai. The initial distribution of refueling stations can be critical to determining whether the technology/infrastructure system survives to become mature and successful. Therefore, the strong support offered to consumers and equipment suppliers from government is important for the market penetration. These findings are also applicable to other alternative fuel vehicles such as hydrogen.Originality/valueLittle real‐world observations have been carried out on the dynamics of alternative fuel vehicles/infrastructure. The paper can enrich people's understanding about the dynamics of diffusion of alternative fuel vehicles/infrastructure and gives policy implications for initializing and keeping a successful demonstration project.
Design of power purchase under transmission congestion
Authors: Gurgur Cigdem Z. , Newes Emily K. 
Published: March 2012

PurposeThe non‐storable nature of electricity and the increasing complexity of financial instruments as a tool for hedging against risk make the area of research very useful in the real world. Many power portfolio optimization problems have been developed to combat the issue of risk tolerance, but very few (if any) have included transmission constraints. The purpose of this paper is to consider optimization of portfolios of real and contractual assets, including derivative instruments, in a multi‐period setting where transmission constraints also exist.Design/methodology/approachRather than using a flowgate constraint as a representation of transmission congestion, the authors use fixed transmission rights. A model is introduced that involves a three‐node unidirectional network in order to evaluate the significance of transmission constraints. Data from the PJM, which is located in the eastern USA, were used for model implementation.FindingsThe stochastic nonlinear mixed‐integer model presented shows that transmission constraints and fixed transmission rights can have a significant effect on the choices a utility will make when dealing with power procurement. It is demonstrated that the inclusions drastically decrease the value of the objective function.Research limitations/implicationsConditional value at risk (CVaR) was chosen over VaR as a risk measurement for two different reasons. First, it is important to have a good representation of the trade‐off between the best expected profit and the volatility experienced when obtaining that profit. Second, it provides protection against very undesirable scenarios that may occur with low probability. In order to simplify the fixed transmission rights contracts, a three‐node network is used with unidirectional flow.Practical implicationsWhen markets were regulated, transmission lines were owned and operated by local utilities, and all power sent over the lines was either owned by the operating utility or wheeled for another utility based on existing agreements. With the advent of deregulation, utilities were forced to wheel other companies' power, which introduced more risk in terms of transmission constraints.Originality/valueThe contribution of this research is to help companies not only hedge the risk of unknown power prices but also unknown transmission congestion. One distinctive feature of the authors' research is to expand upon existing “power portfolio optimization with risk” literature by introducing a transmission constraint into the model. Historically, transmission congestion has been modeled in different ways, including flowgates, transmission rents and fixed transmission rights.
Knowledge is power
Authors: Kristjánsdóttir Helga 
Published: March 2012

PurposeThe purpose of this paper is to seek a clearer understanding of how firms involved in power intensive industries participate in foreign direct investment. The paper asks the following questions: how skilled are the employees available for hire? What kind of pollution restrictions will be applied to the plant? Is the infrastructure in place to enable free transport of the necessary materials? All of these are factors that can be analyzed on a national level, and are major factors in government policy.Design/methodology/approachThe research is designated to explain how macro policy can be directed towards firms in the power intensive industry, to impact the competitiveness within the industry. Skilled labor differences is reflecting governmental policy in its willingness to contribute to education. Infrastructure can be viewed as an indicator for long‐term policy planning by the government. The pollution variable reflects on macro policy emphasis by governments, by presenting their emission targets. Investment cost variable gives indication of government policy concerning the ease with which foreign investors can enter into and invest in a particular country. The case country is Iceland, an isolated island that is unable to export its abundance directly and therefore must do so through foreign direct investment.FindingsThe findings indicate that source countries are attracted by the level of skill in Iceland at the beginning stage of operations when faced with fixed threshold cost. Once the plants have overcome fixed costs, there are positive impacts on marginal investment, the more skilled the source country is compared to the host. Other factors that proved to be important in this case study are distance, infrastructure, government stability, pollution quotas, and the fishing resource.Originality/valueThe relative friendliness a country's policies display towards an industry can make a huge difference when it comes to how successful a business can be, so studying these national‐level policies can help an individual determine what kind of direction to take on the day‐to‐day operational decisions.
John Florio and the introduction of management into the English vocabulary
Authors: Muldoon Jeffrey , Marin Daniel B. 
Published: March 2012

PurposeThis paper proposes to explore the circumstances of the word management's entry into English usage, to deepen understanding of this neglected chapter in management history, and to urge further historical research into seminal management terms and concepts. It also aims to offer a brief explanation of John Florio's role in the introduction of management into English and of that of the Italian Renaissance's influence in England.Design/methodology/approachThe paper's guiding theoretical premise is historian Daniel Rodgers' observation that concepts in government and business often pass from one country to another through “cross fertilization,” effected by the movements and offices of highly connected, cosmopolitan individuals. The sources for this exploration include Florio's World of Words, histories of Florio's circumstances and of the Italian Renaissance, and Evans' edition of La pratica della mercatura (ca 1340) by Francesco Balducci Pegolotti of the fourteenth century Florentine banking firm of Bardi.FindingsThe exploration's findings reinforce Rodgers's account of the spread of government and business concepts and rediscovers a vital link between business practice and humanistic studies.Research limitations/implicationsModern business education, e.g. in its frequent omission of a foreign language requirement in business college curricula, tends to obscure this linkage, now critical in our global economy. The implication is that this linkage should be revived.Originality/valueDeeper knowledge of the Italian Renaissance roots of management and of the business practices it denoted brings new light to the interplay between humanistic studies associated with the Italian Renaissance and Renaissance business practices in an international context. Accordingly, the authors believe that this exploration turns a page, albeit the first page, of a neglected chapter in the history of management thought and practice.
Antecedents and implications of uncertainty in management
Authors: Chawla Chetan , Mangaliso Mzamo , Knipes Bradford , Gauthier Jeff 
Published: March 2012

PurposeThe purpose of this paper is to explain the antecedents of environmental uncertainty in management using a historical framework. The goal of developing passion and compassion in management practice and research cannot be achieved unless a better understanding is developed of the main challenge facing researchers and practitioners – uncertainty.Design/methodology/approachThe antecedents of uncertainty in management are explored using a historical framework. This enables the generation of insights into the nature and use of uncertainty over the decades.FindingsThe importance of environmental uncertainty is escalating. The paper's historical, philosophical and critical view helps scholars explain and interpret uncertainty within their own research and formulate new research questions.Originality/valueUnderstanding the epistemological assumptions underlying paradigms will better enable researchers and practitioners to face a future filled with uncertainty and equivocality.
Inflation targeting and inflation management in Ghana
Authors: Kyereboah‐Coleman Anthony 
Published: March 2012

PurposeThe Ghanaian economy has experienced relative stability, improved macroeconomic performance and resilience over the past few years, following the introduction of a new monetary policy framework called inflation targeting (IT). The purpose of this paper is to look at IT and its effect on inflation management in Ghana.Design/methodology/approachThe study employed monthly time series data from 1980 to 2009.FindingsThe results gathered in this study demonstrate that IT has had a significant impact on the reduction of inflation series in recent years and has reduced the persistence of inflation series considerably. It is largely amplified that the implementation of an IT framework in Ghana has been a success and has contributed to a change in the conduct of monetary policy towards best practice.Research limitations/implicationsThe study could have used a lot more macroeconomic variables.Practical implicationsThe paper's findings are very important for Central Banks that are using the IT framework, or planning to do so, for efficiency and effectiveness.Originality/valueThe paper is the first of its kind for developing countries, especially in Africa and Ghana for that matter.
Measures of financial openness and interdependence
Authors: Clark William R. , Hallerberg Mark , Keil Manfred , Willett Thomas D. 
Published: March 2012

PurposeThe purpose of this paper is to review concepts and measurements related to financial globalization such as financial openness, financial integration, monetary interdependence, and the mobility and movement of capital.Design/methodology/approachThis paper surveys the theoretical and empirical literature on monetary interdependence and financial globalization. The major ways in which these concepts are measured empirically are presented and critiqued.FindingsDisagreements about the degree of financial integration and capital mobility are, in part, explained by the different approaches to measuring these concepts. One major challenge in obtaining a good measures is controlling for other major factors that may influence observed correlations among financial variables. While these relationships still cannot be estimated precisely, it can be safely said that while high for many countries, few if any financial markets are perfectly integrated across countries.Originality/valueBy offering a comprehensive analysis of these different measurements, the paper underscores the different implications for national policies and the operation of the international monetary system of different dimensions of globalization. In particular, the proposition that financial globalization has left most countries with little autonomy for domestic monetary policy is subject to serious debate, at least in the short run.
The eurozone financial crisis: role of interdependencies between bank and sovereign risk
Authors: Barth James R. , Prabha Apanard (Penny) , Yun Greg 
Published: March 2012

PurposeThe purpose of this paper is to discuss and then analyze the interdependency between bank and sovereign risk before, during and after the financial crisis.Design/methodology/approachThe authors' approach is based upon an examination of 44 large banks headquartered in 13 countries; eight of these countries belong to the European Union, seven belong to the eurozone, and the remaining five belong to neither group. This provides a good comparison group of countries.FindingsEvidence is found supporting the existence of significant bank and sovereign risk linkages. There are, however, different patterns in the relationships across countries and even across banks within the same country. Also, higher correlations between bank and sovereign risk are found in countries in which the ratio of the assets of banks relative to their home country's GDP is relatively high.Research limitations/implicationsBased upon the empirical results, allowing banks to invest in sovereign debt without requiring them to hold any capital against the “true” risk of such debt increases the likelihood of insolvency. This means that interdependencies between bank and sovereign risk are extremely important when setting regulatory capital requirements and considering whether action is needed to limit any increase in the likelihood of contagion.Originality/valueThe paper provides a new examination of the interdependencies between individual bank risk and the sovereign risk of the countries in which they are headquartered, with special emphasis on the recent global financial and eurozone crises.