scholarly journals Information Flow between Global Equities and Cryptocurrencies: A VMD-Based Entropy Evaluating Shocks from COVID-19 Pandemic

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-25
Author(s):  
Emmanuel Asafo-Adjei ◽  
Peterson Owusu Junior ◽  
Anokye M. Adam
Keyword(s):  
Financial Markets ◽  
Information Flow ◽  
Sample Period ◽  
Significant Information ◽  
Full Sample ◽  
Mode Decomposition ◽  
The World ◽  
The One ◽  
Effective Transfer ◽  
Digital Assets

The world has witnessed the adverse impact of the COVID-19 pandemic. Accordingly, it is expected that information transmission between equities and digital assets has been altered due to the hostile impact of the pandemic outbreak on financial markets. As a result, the ensuing perverse risk among markets is presumed to rise during severe uncertainties occasioned by the COVID-19 pandemic. The impetus of this study is to examine the degree of asymmetry and nonlinear directional causality between global equities and cryptocurrencies in the frequency domain. Hence, we employ both the variational mode decomposition (VMD) and the Rényi effective transfer entropy techniques. Analyses of the study are presented for three sample periods; these are the full sample period, the pre-COVID-19 period, and the COVID-19 pandemic period. We gauge a mixture of asymmetric and nonlinear bidirectional and unidirectional causality between global equities and cryptocurrencies for the sample periods. However, the COVID-19 pandemic period appears to be driving the estimates for the full sample period, which indicates a negative flow. Thus, the direction and significance of the information flow between the markets for the full sample correspond to the one observed during the COVID-19 pandemic period. We, consequently, establish a significant directional, dynamical, and scale-dependent information flow between global equities and cryptocurrencies. Notwithstanding, throughout the study samples, we mainly find a negative significant information flow from global equities to cryptocurrencies. We detect that most cryptocurrencies exhibit similar behaviour of information flow to global equities for each of the sample periods. The outcome provides pertinent signals to investors with diverse investment horizons who would want to diversify, hedge, or employ cryptocurrencies as a safe haven for global equities during uncertainties, specifically the COVID-19 pandemic.

Information as the Basis for Representation

1998 ◽  
pp. 8-13
Author(s):  
Janina Buczkowska
Keyword(s):  
Information Flow ◽  
External World ◽  
Basic Function ◽  
Complex Information ◽  
The World ◽  
Specific Complex ◽  
Internal Objects ◽  
Triadic Relation ◽  
The One ◽  
The Relationship

The article presents a proposal to use the notion of information and a model of its transmission for analysis of the structure and basic functions of a sign. This is to point to the relation between information and the basic function of a sign, that is, a 'representation.' A sign is understood, in accordance with Peirce's theory, as a triadic relation of representation. One of the consequences of this theory is limitation of representation to the area of internal objects of a sign, that is, to ideal intentional objects. The relationship between a sign and the external world remains unexplained, which allows one to perceive a sign as a barrier in comprehension of the external world. A more complete justification is also required for both the relationship between object and meaning of the sign and the very arising of representation as a unity of three elements. The article analyzes the triadic relation of representation on the basis of the notion of information close to the one proposed by C.F. von Weizsacker. It is shown that representation can be understood as a specific, complex information flow. Processes of information flow determine the structure of representation as well as the relationships between the world of signs and the world beyond signs. Such approach allows one to give a more complete justification to the ability of sign systems to represent the external world.

scholarly journals Information Flow Between the Zimbabwe Stock Exchange and the Johannesburg Stock Exchange: A Transfer Entropy Approach

2021 ◽  
Vol 12 (2) ◽  
pp. 353-376
Author(s):  
Kingstone Nyakurukwa
Keyword(s):  
Information Flow ◽  
Stock Exchange ◽  
Tail Dependence ◽  
Point Of View ◽  
Transfer Entropy ◽  
Significant Information ◽  
Fund Managers ◽  
Johannesburg Stock Exchange ◽  
Entropy Estimate ◽  
Effective Transfer

The purpose of this paper is to determine whether there was information flow between the stock markets of Zimbabwe and South Africa during the time the Zimbabwean economy was dollarized. The author used econophysics-based Shannonian and Rényian transfer entropy estimates to establish the flow of information between the markets in tranquil periods as well as at the tails of return distributions. The only significant Shannonian transfer entropy estimate was from Johannesburg Stock Exchange (JSE) resources index to Zimbabwe Stock Exchange (ZSE) mining index. The findings show that the only significant tail dependence was between JSE All Share Index (JALSH) and ZSE Mining on the one hand, and between JSE Resources and ZSE Mining on the other hand. However, the magnitudes of the effective transfer entropy values are relatively low, showing that there are weak linkages between the Zimbabwe Stock Exchange and the Johannesburg Stock Exchange. The lack of significant information flows between the exchanges of the two countries offer opportunities to fund managers for portfolio diversification. From a government point of view, it is imperative that the tempo of economic and political reform be accelerated so that integration between the markets can be fast-tracked. Integrated markets will benefit Zimbabwe as this will reduce the cost of equity and accelerate economic growth.

scholarly journals Cost-management in correspondent banking relationships

2017 ◽  
Vol 1 (2) ◽  
pp. 21-33
Author(s):  
Larysa Sloboda
Keyword(s):  
Cost Management ◽  
Due Diligence ◽  
Currency Hedging ◽  
Cost Cutting ◽  
Essential Components ◽  
The World ◽  
Banking Relationships ◽  
The One ◽  
The Cost ◽  
Digital Assets

Cost-management is essential and highly specific sphere, which requires applying adequate decision- making approach as a part of the bank’s internal value creation process. Correspondent banking is a dynamically growing area of management and controlling methods applied in banks on the one hand and high risk financial segment of the regulators’ measures and expectations around the world on the other. The purpose of this research is to outline the main challenges for cost-management development in correspondent banking relationships (CBRs) around the world with recommendations for Ukraine. The paper explains the key reasons and essential components of cost-management system for managing risks and costs in CBRs based on the analytical results of transactions volume, comparing drivers of restriction of CBRs, rapidly growing number of different types of compliance and operational costs. As a result, the study highlights the cost-cutting measures based on digital assets solutions and blockchain technologies that can help banks to eliminate and lower costs of customer on-boarding, due diligence and money laundering prevention, foreign exchange and currency hedging, treasury and payment operations, liquidity and capital raising.

Psychology from Egyptian, Arab, and Islamic Perspectives

1997 ◽  
Vol 2 (4) ◽  
pp. 356-365 ◽  
Author(s):  
Fouad A-L.H. Abou-Hatab
Keyword(s):  
Professional Identity ◽  
21St Century ◽  
The West ◽  
Islamic Perspective ◽  
National Heritage ◽  
Western Psychology ◽  
The World ◽  
The One

This paper presents the case of psychology from a perspective not widely recognized by the West, namely, the Egyptian, Arab, and Islamic perspective. It discusses the introduction and development of psychology in this part of the world. Whenever such efforts are evaluated, six problems become apparent: (1) the one-way interaction with Western psychology; (2) the intellectual dependency; (3) the remote relationship with national heritage; (4) its irrelevance to cultural and social realities; (5) the inhibition of creativity; and (6) the loss of professional identity. Nevertheless, some major achievements are emphasized, and a four-facet look into the 21st century is proposed.

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

Indonesian Literature’s Position in World Literature

TEKNOSASTIK ◽  
2018 ◽  
Vol 14 (2) ◽  
pp. 1
Author(s):  
Dina Amelia
Keyword(s):  
World Literature ◽  
The Other ◽  
National Literature ◽  
Western World ◽  
The World ◽  
The One ◽  
The Voice

There are two most inevitable issues on national literature, in this case Indonesian literature. First is the translation and the second is the standard of world literature. Can one speak for the other as a representative? Why is this representation matter? Does translation embody the voice of the represented? Without translation Indonesian literature cannot gain its recognition in world literature, yet, translation conveys the voice of other. In the case of production, publication, or distribution of Indonesian Literature to the world, translation works can be very beneficial. The position of Indonesian literature is as a part of world literature. The concept that the Western world should be the one who represent the subaltern can be overcome as long as the subaltern performs as the active speaker. If the subaltern remains silent then it means it allows the “representation” by the Western.

CRYPTOCURRENCY PHENOMENON IN THE INTERNATIONAL MONETARY SYSTEM

2017 ◽  
pp. 95-100
Author(s):  
Артур Анатолійович Василенко
Keyword(s):  
World Economy ◽  
International Monetary System ◽  
State University ◽  
Electronic Money ◽  
Monetary System ◽  
Current Trends ◽  
The World ◽  
Post Graduate Student ◽  
The One ◽  
Xix Century

UDC 336.74   Vasylenko Artur, post-graduate student. Mariupol State University. Cryptocurrency Phenomenon in the International Monetary System. The main prerequisites of cryptocurrency emergence in the international monetary system in terms of regionalization of the world economy are defined in the article. Determination of «cryptocurrency» category was analysed from the point of two main approaches to its treatment: on the one hand cryptocurrency is admitted to be the currency equally to the sovereign currency, and on the other hand it is considered as an unrecognized virtual asset. The main consequences which arise in case of widespread use of crypto currency for the country and for the parties that agreed to use cryptocurrency were analysed and systematized. On the basis of the research, given the current trends in the world economy, the author put forward and substantiated the hypothesis to classify the phenomenon of cryptocurrency as the effects of a famous philosophical «Negation of negation law» formulated by G. Hegel at the beginning of the XIX century.   Keywords: cryptocurrency, material money, electronic money, digital currency, regional currency integration, blockchain, mining, capitalization, «Negation of negation law».

Embracing multiculturalism of Canada: the roots & the present-day realities

2017 ◽  
pp. 32-41
Author(s):  
Valentyna Bohatyrets
Keyword(s):  
National Identity ◽  
Human Dignity ◽  
Public Support ◽  
Immigrant Integration ◽  
Mutual Understanding ◽  
Positive Outcomes ◽  
The World ◽  
The One ◽  
Digital Diplomacy ◽  
Equality And Diversity

The paper provides the framework for embracing multiculturalism as a source of national identity, a political ‘profession de foi’, and an engine for a government to gain positive outcomes, leading to better immigrant integration and economic advantages for any country in the world. Noteworthy, Canadian federal policy of multiculturalism, since its official adoption in 1971, is witnessed to work stunningly and in contrast to developments elsewhere – in Canada, public support for multiculturalism is seeing unprecedented growth. Currently, the diversity of the Canadian populace is increasing faster than at any time in its history; Canada’s ethnic makeup has notably altered over the time due to changing immigration patterns. According to the latest poll findings, 84% of Canadians agree with the statement that ‘Canada’s multicultural makeup is one of the best things about this country’; 61% of Canadians believe multiculturalism ‘strengthens national identity’. Moreover, released data from Environics reveals that 27% of Canadians believe ‘multiculturalism is the one characteristic about Canada that most deserves to be celebrated on its upcoming 150thanniversary. Undeniably, people around the world tend to view Canada as “good”. Importantly, the election of Justin Trudeau is viewed as an excellent opportunity to invigorate brand Canada. Noteworthy, brand Justin Trudeau is currently composed of his belief in and promotion of the values of tolerance, equality and diversity. While recognizing the value for society of the human dignity inherent in each individual, Trudeau’s government aims to push beyond mere tolerance to mutual understanding and respect. Keywords: Multiculturalism of Canada, immigration, digital diplomacy, brand, national identity, poll, ethnic groups

PERSUASIVE STRATEGIES USED IN BURGER KING’S INSTAGRAM POSTS CAPTION

2020 ◽  
Vol 8 (1) ◽  
pp. 96-104
Author(s):  
Yeremia Yori Rudito ◽  
Anita
Keyword(s):  
Fast Food ◽  
Research Method ◽  
Qualitative Method ◽  
Fast Food Restaurant ◽  
Rhetorical Question ◽  
Persuasive Strategies ◽  
Inclusive Language ◽  
Colloquial Language ◽  
The World ◽  
The One

Burger King is the one of the most successful fast food restaurant in the world. According to Wikipedia, there are 17,796 locations of Burger King all over the world in 2018. Burger King also has its Instagram account. Now this account has been followed by 1,6 million people and has posted 938 posts. That statistic shows that Burger King is active in social media especially in Instagram platform. The writer see the indication of the using of Persuasive Strategies because in promoting their product. In this research the writer wants to know the persuasive strategies that applied in Burger King’s Instagram post caption and the most used strategy. This research applied Qualitative Method as research method. This research has two findings, first, there are 13 strategies that appear in Burger King’s Instagram post caption they are, Anecdote, Assonance, Cliché, Connotation, Evidence, Everyday/Colloquial Language, Hyperbole, Imagery, Inclusive Language, Pun, Repetition, Rhetorical Question, and Simile. Second, the most used strategy is Everyday/Colloquial Language.

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