Informational role of futures volume for spot volatility

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shailesh Rastogi ◽  
Vikas Tripathi ◽  
Sunaina Kuknor
Keyword(s):  
Generalized Method Of Moments ◽  
Spot Market ◽  
Simultaneous Equation ◽  
Simultaneous Equations ◽  
Exogenous Variable ◽  
Equation Modeling ◽  
Content Type ◽  
Option Volume ◽  
Spot Volatility

Purpose The paper aims to explore the informational role of futures volume in the simultaneous relationship between option volume and spot volatility to forecast the volatility of the underlying asset. Design/methodology/approach The generalized method of moments is used to estimate the simultaneous equations of endogeneity between spot volatility and option volume. Futures volume is specified as an exogenous variable in both legs of the estimation of simultaneous equations. However, the future volume is also tested as a dependent variable to prove preference for investment by informed investors in futures along with options. Findings The result indicates that futures volume has a significant association with the bi-directional simultaneous equation estimation between spot volatility and option volume. Moreover, the result of this paper proves that informed investors also prefer futures markets over the spot market. However, there is no change observed in the relationship between option volume and spot volatility due to either call or put options or moneyness. Originality/value The possible role of futures volume in the simultaneous equations between spot volatility and option volume has not yet been researched. This paper pioneers in demonstrating that futures volume is an exogenous variable in the simultaneous equation modeling between spot volatility and option volume. Moreover, in the contemporaneous as well as predictive relationships between spot volatility and option volume, futures volume as an exogenous variable is significant in forecasting spot volatility. In addition to this, the current paper uniquely provides evidence of investment in futures also over the spot market by informed investors.

The effect of psychological empowerment on job burnout and competitive advantage

2020 ◽  
Vol 18 (1) ◽  
pp. 47-71 ◽  
Author(s):  
Ali Safari ◽  
Arash Adelpanah ◽  
Razieh Soleimani ◽  
Parisa Heidari Aqagoli ◽  
Rosa Eidizadeh ◽  
...  
Keyword(s):  
Data Analysis ◽  
Organizational Commitment ◽  
Competitive Advantage ◽  
Indirect Effect ◽  
Psychological Empowerment ◽  
Job Burnout ◽  
Equation Modeling ◽  
Content Type ◽  
Mediating Role

Purpose This study aims at investigating the effect of psychological empowerment on job burnout and competitive advantage with the mediating role of organizational commitment and creativity. Design/methodology/approach The statistical population included all the managers and staffs of Tooka Company in Iran, and for data analysis, 120 completed questionnaires were used. Data analysis was carried out by SPSS 18 and Amos 20 software and structural equation modeling method. To test the mediating relationships, bootstrap method was used. Findings The findings showed that psychological empowerment has a significant direct effect on job burnout and competitive advantage. Also, psychological empowerment has a significant indirect effect on job burnout through the mediating role of organizational commitment. In addition, psychological empowerment has a significant indirect effect on competitive advantage through the mediating role of organizational creativity. Originality/value This study is among the first to investigate the relationship between psychological empowerment, job burnout, competitive advantage, organizational commitment and creativity.

scholarly journals The antecedents of Muslim customers’ intention to invest in an Islamic bank’s term deposits: evidence from a Muslim majority country

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sri Rahayu Hijrah Hati ◽  
Sigit Sulistiyo Wibowo ◽  
Anya Safira
Keyword(s):  
Perceived Risk ◽  
Online Survey ◽  
Perceived Value ◽  
Perceived Quality ◽  
Equation Modeling ◽  
Product Knowledge ◽  
Islamic Banks ◽  
Content Type ◽  
Islamic Bank

Purpose The purpose of this study is to examine the impacts of product knowledge, perceived quality, perceived risk and perceived value on customers’ intention to invest in Islamic Banks. This study specifically examines an Islamic bank’s term deposits. Design/methodology/approach Structural equation modeling was used to analyze the data collected from 217 customers of an Islamic bank in Indonesia using an online survey. Findings This study highlights the central and dual roles of perceived risk as both the independent and the intervening variable that mediates the relationship between product knowledge and Muslim customer intention to invest in an Islamic bank’s term deposits. Research limitations/implications This study only investigates term deposits as one type of investment in Islamic banks. This study contributes to the literature by examining the role of product knowledge, perceived quality, perceived risk and perceived value on Muslim customer intention to invest in Islamic term deposits. Practical implications The results of this study highlight the requirement for Islamic banks to educate customers to improve the depositors’ product knowledge because Muslim customers’ risk and value perception and intention are strongly influenced by product knowledge. Originality/value The investigation of perceived risk is particularly relevant for Islamic financial products because of the inherent nature of risk sharing in Islamic finance. This study investigates the role of product knowledge in influencing the Muslim customers’ perception of risk, quality, value and their intention to invest in Islamic bank term deposits. Ideally, the profit loss sharing concept (PLS) should be applied; however, in this context, revenue sharing is applied because of Indonesia’s central bank regulation.

VAR INTERPRETATIONS OF HAAVELMO’S MARKET MODEL OF CAPITAL AND INVESTMENT

2014 ◽  
Vol 31 (2) ◽  
pp. 195-212
Author(s):  
Erik Biørn
Keyword(s):  
Rational Expectations ◽  
Joint Effect ◽  
Simultaneous Equation ◽  
Market Model ◽  
Equation Modeling ◽  
Vector Autoregressive ◽  
Investment Theory ◽  
The Interest Rate ◽  
Geometric Decay

In the paper attempts are made to integrate two parts of Trygve Haavelmo’s work: investment theory and dynamic econometric models of interrelated markets. Specifically, the duality in the representation of the capital service price and the capital quantity in relation to the investment price and quantity are brought to the forefront and confronted with elements from simultaneous equation modeling of vector autoregressive systems containing exogenous variables (VARX), using linear four-equation models. The role of the interest rate and the modeling of the expectation element in the capital service price and the capital’s retirement pattern, and their joint effect on the model’s investment quantity and price dynamics are discussed. Stability conditions are illustrated by examples. Extensions relaxing geometric decay and ways of accounting for forward-looking behavior, including rational expectations, are outlined. Some remarks on the theory-data confrontation of this kind of model are given.

E-waste information security protection motivation: the role of optimism bias

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Hao Chen ◽  
Ofir Turel ◽  
Yufei Yuan
Keyword(s):  
Information Security ◽  
Risk Behavior ◽  
Equation Modeling ◽  
Perceived Threat ◽  
Protection Motivation ◽  
Security Risk ◽  
Content Type ◽  
Optimism Bias ◽  
Information Security Risk

PurposeElectronic waste (e-waste) such as discarded computers and smartphones may contain large amounts of confidential data. Improper handling of remaining information in e-waste can, therefore, drive information security risk. This risk, however, is not always properly assessed and managed. The authors take the protection motivation theory (PMT) lens of analysis to understand intentions to protect one's discarded electronic assets.Design/methodology/approachBy applying structural equation modeling, the authors empirically tested the proposed model with survey data from 348 e-waste handling users.FindingsResults highlight that (1) protection intention is influenced by the perceived threat of discarding untreated e-waste (a threat appraisal) and self-efficacy to treat the discarded e-waste (a coping appraisal) and (2) optimism bias plays a dual-role in a direct and moderating way to reduce the perceived threat of untreated e-waste and its effect on protection intentions.Originality/valueResults support the assertions and portray a unique theoretical account of the processes that underline people's motivation to protect their data when discarding e-waste. As such, this study explains a relatively understudied information security risk behavior in the e-waste context, points to the role of optimism bias in such decisions and highlights potential interventions that can help to alleviate this information security risk behavior.

The role of green process innovation translating green entrepreneurial orientation and proactive sustainability strategy into environmental performance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anderson Betti Frare ◽  
Ilse Maria Beuren
Keyword(s):  
Entrepreneurial Orientation ◽  
Environmental Performance ◽  
Process Innovation ◽  
Equation Modeling ◽  
Green Process ◽  
Content Type ◽  
Mediating Role ◽  
Sustainability Strategy ◽  
Green Process Innovation

PurposeThis paper analyzes the mediating role of green process innovation in the relationships of green entrepreneurial orientation and proactive sustainability strategy with environmental performance.Design/methodology/approachThe authors analyze data from 81 Brazilian agriculture technology startups (AgTechs) using partial least squares–structural equation modeling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA).FindingsThe results show that the green process innovation assumes an important role in AgTechs, promoting full mediations between green entrepreneurial orientation and proactive sustainability strategy with environmental performance. There are two ways for AgTechs to achieve high environmental performance. In both, green process innovation is a central condition, while green entrepreneurial orientation or proactive sustainability strategy is a complementary condition.Research limitations/implicationsThis study demonstrates how internal elements (green entrepreneurial orientation, proactive sustainability strategy and green process innovation) improve environmental performance. This answers calls to explore which elements translate green entrepreneurial orientation and proactive sustainability strategies into environmental performance, by highlighting the mediating role of green process innovation.Practical implicationsThe findings are useful for founders and managers of AgTechs to find ways to manage sustainable technological advancement and cleaner production in agribusiness.Originality/valueThis study analyses the interface between sustainable entrepreneurship, strategy and innovation in promoting environmental performance of AgTechs from an emerging economy country.

A strategy tripod perspective on merger effectiveness in the higher education industry: the mediating role of future foresight

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zahraa Sameer Sajwani ◽  
Joe Hazzam ◽  
Abdelmounaim Lahrech ◽  
Muna Alnuaimi
Keyword(s):  
Higher Education ◽  
Structural Equation ◽  
Government Support ◽  
Equation Modeling ◽  
Survey Method ◽  
Content Type ◽  
Mediating Role ◽  
Education Industry ◽  
Higher Education Industry

PurposeThe purpose of the study is to investigate the role of the strategy tripod premises, mediated by future foresight and its effect on merger effectiveness in the higher education industry.Design/methodology/approachA quantitative survey method was implemented, with the data provided by senior managers of 14 universities that went through a merger from the years 2013–2016. The proposed model was tested using partial least squares (PLS) of structural equation modeling (SEM).FindingsThe results indicate that government support, competitive intensity and knowledge creation capability relate positivity to merger effectiveness, and these relationships are mediated by future foresight competence.Originality/valueThe study provides a better understanding of merger effectiveness in the higher education industry by identifying the role of future foresight competence in the application of strategy tripod and its contribution on merger effectiveness. Results indicate that future foresight competence contributes to the merger effectiveness and enables the effective implementation of the strategy tripod dimensions in higher education mergers.

Effect of social capital on agribusiness diversification intention in the emerging market

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Le Dang Lang ◽  
Abhishek Behl ◽  
Nguyen Trung Dong ◽  
Yama Temouri ◽  
Nguyen Hong Thu
Keyword(s):  
Social Capital ◽  
Global Economy ◽  
Structural Equation ◽  
Emerging Market ◽  
Measurement Scale ◽  
Equation Modeling ◽  
Group Discussions ◽  
Content Type ◽  
Depth Interviews

PurposeCoronavirus disease 2019 (COVID-19) has seriously affected the global economy. How agribusinessmen are overcoming this crisis is being noticed in emerging markets. Using social capital to diversify agribusiness for getting more customers is a useful solution for the growth of agribusiness. However, there is a lack of evidence on the aggregate measurement scale of social capital and the influence of behavioral goals on the intention toward agribusiness diversification. Therefore, this study aims to develop an integrated measurement of social capital and investigate its effect on agribusiness diversification intention using the expanded theory of planned behavior (TPB).Design/methodology/approachA mixed-methods approach is used, including four in-depth interviews, three focus group discussions and two surveys. Structural equation modeling is applied to a sample of 484 respondents to test the proposed hypotheses.FindingsThe study shows the role of social capital in influencing the intention to diversify agribusiness under the premises of the resource-based view (RBV). The scale of social capital is also developed, which is the first integrated measurement of this asset. The findings contribute significantly to the existing knowledge of social capital, the TPB and diversifying agribusiness.Originality/valueThis is the first study to explore the comprehensive effect of the facets of social capital on behavioral intention through behavioral goals and determinants of the TPB under the premises of the RBV. The findings will help emerging economies, for example, Vietnam, where most farmers are family business owners or microscaled entrepreneurs in agriculture.

Believe they can succeed, and they will: intrapreneurial behavior and leadership

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Farrukh ◽  
Fanchen Meng ◽  
Ali Raza
Keyword(s):  
Organizational Climate ◽  
Structural Equation ◽  
Chemical Engineering ◽  
Theoretical Development ◽  
Equation Modeling ◽  
Pharmaceutical Chemical ◽  
Participative Leadership ◽  
Content Type ◽  
Member Exchange

PurposeA leader's job is not to put greatness into people, but rather to recognize that it already exists and to create an environment where that greatness can emerge and grow (Smith, 2014). Based on Brad Smith's quote, the purpose of this study is to investigate the role of the leader's expectations, leader-member exchange (LMX) and organizational climate for innovation in fostering the intrapreneurial behavior (IB) of employees.Design/methodology/approachData were collected from employees and their supervisors working across industries such as pharmaceutical, chemical, engineering and manufacturing. Collected data were then analyzed using the structural equation modeling technique.FindingsThe authors’ results show that LMX and leaders' expectations are positively linked to employees' IB. Moreover, this association is mediated by organizational climate.Practical implicationsThis study's findings contribute to the literature on intrapreneurship and may also help practitioners formulate interventions to foster IB in organizations that will ultimately lead to higher performance.Originality/valueThis study attempted to investigate the effect of LMX and the Pygmalion effect on IB through employees' perception of organizational climate for innovation. The literature in this field is scarce and theoretical development is weak because traditional collaborative or participative leadership approaches are more relevant to an outcome than innovation.

Big data-driven supply chain and performance: a resource-based view

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shampy Kamboj ◽  
Shruti Rana
Keyword(s):  
Big Data ◽  
Supply Chain ◽  
Small And Medium Enterprises ◽  
Data Driven ◽  
Equation Modeling ◽  
Firm Age ◽  
Content Type ◽  
Sustainable Performance ◽  
Medium Enterprises

PurposeThe main objective of this paper is to study the role of supply chain performance (SCP) as a mediator between big data-driven supply chain (BDDSC) and firm sustainable performance. In addition, the role of firm age as a moderator between BDDSC and SCP as well as between SCP and firm sustainable performance has also been explored.Design/methodology/approachThe 200 managers of medium or senior level positions in micro, small and medium enterprises (MSMEs) located at Delhi-NCR have been contacted. Further, collected data have been confirmed with confirmatory factor analysis (CFA). In this paper, structure equation modeling (SEM) has been employed to empirically check the proposed hypotheses and their relationships.FindingsThe findings confirmed that SCP mediates the link between BDDSC and firm sustainable performance. Additionally, firm age moderates the association between BDDSC and SCP as well as between SCP and firm sustainable performance.Research limitations/implicationsThe role of SCP and firm age between BDDSC and sustainable performance have been examined in the context of MSMEs in Delhi-NCR and thereby limit the generalization of results to other industries and country contexts.Originality/valueThe present study adds to the existing literature via recognizing the blackbox using SCP and firm age to comprehend BDDSC and firm sustainable performance relationship.

Workplace fun and informal learning: the mediating role of motivation to learn, learning opportunities and management support

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Morteza Taheri ◽  
Sharareh Motealleh ◽  
Jalil Younesi
Keyword(s):  
Informal Learning ◽  
Equation Modeling ◽  
Motivation To Learn ◽  
Opportunities To Learn ◽  
Management Support ◽  
Content Type ◽  
Learning Opportunity ◽  
Workplace Fun ◽  
The Relationship

Purpose Past research shows that workplace fun has a positive effect on informal learning, however, the role of individual and organizational mediating variables in this relation has not been studied much. This study aims to examine the role of management support, motivation to learn and learning opportunity in the relationship between workplace fun and informal learning. Design/methodology/approach In this multivariate correlation study, data were collected through questionnaires. In total, 200 employees of the petrochemical industry participated. Partial least squares structural equation modeling was used to analyze the data. Findings The main finding suggests that motivation to learn contributes to informal learning. Fun in the workplace has a positive and significant indirect effect on informal learning by providing a variety of opportunities to learn; the management support in the final model also mediates the relationship between workplace fun and opportunities to learn. Practical implications The results indicate the benefits of creating and maintaining fun in the workplace to improve informal learning. The authors will be better able to advise by providing abundant resources for formal training such as time, learning climate and financial resources, workplace fun can be used as a practical strategy to promote informal learning where the workplace is fun, innovation, creativity and performance improvement occur. Managers should make arrangements to spontaneously motivate employees to learn informally and provide fun and varied opportunities for informal learning. Originality/value In this study, the multiple correlations and the effect of motivation variables, learning opportunity and management support in the relationship between workplace fun and informal learning were studied. Examining how these relationships are and identifying the moderator of this relationship because of individual and environmental differences requires further studies.

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