Revisiting the Valuable Roles of Global Financial Assets for International Stock Markets: Quantile Coherence and Causality-in-Quantiles Approaches

We employ the quantile-coherency approach and causality-in-quantile method to revisit the roles of Bitcoin, U.S. dollar, crude oil and gold for USA, Chinese, UK, and Japanese stock markets. The main results show that the impact of global financial assets varies across different investment horizons and quantiles. We find that in most cases, the correlation between global financial assets and stock indexes is not significant or is weakly positive. From the perspective of investment horizons (frequency domain), the correlation in the short term is mostly manifested in Bitcoin, while in the medium and long term it is shifted to dollar assets. At the same time, the relationships are significantly higher in the medium and long term than in the short term. From the point of view of quantiles, it shows a weak positive correlation at the lower quantile. However, the correlation between the two is not significant at the median quantile. At the high quantiles, there is a weak negative linkage. According to the causality-in-quantiles approach results, in most cases global financial assets have different degrees of predictive capacity for the selected stock markets. Especially around the median quantile, the predictive ability was strongest.

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Underpricing in Initial Public Offerings: The Indian Evidence

Vikalpa The Journal for Decision Makers ◽

10.1177/0256090919970403 ◽

1997 ◽

Vol 22 (4) ◽

pp. 17-30 ◽

Cited By ~ 27

Author(s):

T P Madhusoodanan ◽

M Thiripalraju

Keyword(s):

Initial Public Offerings ◽

Stock Markets ◽

Short Term ◽

Public Offerings ◽

Long Run ◽

The Impact

Underpricing in the initial public offerings (IPOs) is a well documented phenomenon in the stock markets. In this paper T P Madhusoodanan and M Thiripalraju analyse the Indian IPO market for the short-term as well as long-term underpricing. They also examine the impact of the issue size on the extent of underpricing in these offerings and the performance of the merchant bankers in pricing these issues. The study indicates that, in general, the underpricing in the Indian IPOs in the shortrun was higher than the experiences of other countries. In the long-run too, Indian offerings have given high returns compared to negative returns reported from other countries. The study also reveals that none of the merchant bankers showed any better pricing capabilities.

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Impact of MiFID II on the Market Volatility—Analysis on Some Developed and Emerging European Stock Markets

Laws ◽

10.3390/laws10030055 ◽

2021 ◽

Vol 10 (3) ◽

pp. 55

Author(s):

Marius Cristian Miloș

Keyword(s):

Financial Markets ◽

Capital Markets ◽

Stock Markets ◽

Negative Impact ◽

Short Term ◽

Emerging Stock Markets ◽

Volatility Analysis ◽

Stock Indexes ◽

European Stock Markets ◽

The Impact

The paper investigates whether the implementation of MiFID II, a packet of financial legislation applying broadly to European Union financial markets, has led to a change in the volatility of some European developed and emerging stock markets. We show that for the developed capital markets considered in the analysis, MiFID II did not lead to a decrease in the volatility of capital markets. On the contrary, for all analysis intervals considered (3 months, 6 months, 12 months, 18 months and 24 months), the impact on volatility is positive, with volatility increasing in the case of the FTSE 100, CAC40 and DAX stock indexes. There is a similar significant relationship for the Czech stock market, but only over the three-month interval. For the Polish and Romanian stock markets, which enforced MiFID II later, a negative impact of MiFID II on volatility could also be observed. In the Romanian market, MiFID II had a negative impact on volatility on the short-term horizon, while for the Polish market, the impact of MiFID II on volatility is noticeable on a longer term of 24 months.

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Investigating Greenland's glaciers

Rapport Grønlands Geologiske Undersøgelse ◽

10.34194/rapggu.v148.8119 ◽

1990 ◽

Vol 148 ◽

pp. 46-51

Author(s):

A Weidick

Keyword(s):

Point Of View ◽

Short Term ◽

Glacier Fluctuations ◽

Glacier Changes ◽

Future Events ◽

Global Sea Level ◽

The Individual ◽

The Impact

Investigations of Greenland's glaciers undertaken by GGU are primarily related to the exploitation of meltwater from the Inland lce and local glaciers in western Greenland, i.e. they are essentially related to glacier hydrology (Olesen & Braithwaite, 1989). The studies are therefore based on mass balance data combined with investigations of superglacial melt/refreezing and the determination of the internal mode of drainage. Related to this work is the documentation of short-term glacier changes at specific localities identified as being of special interest for hydropower from the point of view of glacier hazards, i.e. for example damage caused by tapping of ice dammed lakes or change of proglacial draining caused by change in the glacier's thickness and extent. Similar documentation of long-term glacier fluctuations provides a background for control and modelling of past glacier fluctuations. The procedures have a direct bearing on the calculation of scenarios for future events related to the individual localities or, in a regional sense, to the impact of changes in Greenland glaciers on global sea level (the 'greenhouse effect’).

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Societal Costs of Child and Adolescent Mental Health Disorders

10.1093/oxfordhb/9780190634841.013.11 ◽

2018 ◽

Author(s):

Frances L. Lynch ◽

John F. Dickerson

Keyword(s):

Mental Health ◽

Health System ◽

Conceptual Model ◽

Point Of View ◽

Short Term ◽

Public And Private ◽

Scarce Resources ◽

The Impact

Costs related to mental health and neurodevelopmental conditions (MHNCs) in childhood are experienced by multiple groups, including families, public and private service systems, and society as a whole. This chapter provides a conceptual model of MHNC-related costs, reviews estimates of short-term and long-term costs, and discusses the role of economic evaluation of services. Our conceptual model suggests that it is critical to consider costs from a broad point of view, but current literature on cost of MHNCs is uneven, with significant focus on short-term health system costs and very little emphasis on long-term costs or costs outside the health system, such as costs to families. There is a growing body of literature on MHNC costs, but more emphasis is needed in areas where there is little data to ensure that decision-makers have comprehensive data on the impact of MHNCs in order to manage scarce resources equitably and efficiently.

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SUMBER-SUMBER RESILIENSI PADA REMAJA AKHIR YANG MENGALAMI KEKERASAN DARI ORANGTUA PADA MASA KANAK-KANAK

Psibernetika ◽

10.30813/psibernetika.v11i1.1161 ◽

2018 ◽

Vol 11 (1) ◽

Author(s):

Devina Calista ◽

Garvin Garvin

Keyword(s):

Late Adolescents ◽

Long Term Effects ◽

Short Term ◽

Parental Affection ◽

Resilience Factors ◽

Childhood Violence ◽

Past Experiences ◽

The Impact ◽

Depth Interviews

Child abuse by parents is common in households. The impact of violence on children will bring short-term effects and long-term effects that can be attributed to their various emotional, behavioral and social problems in the future; especially in late adolescence that will enter adulthood. Resilience factors increase the likelihood that adolescents who are victims of childhood violence recover from their past experiences, become more powerful individuals and have a better life. The purpose of this study was to determine the source of resilience in late adolescents who experienced violence from parents in their childhood. This research uses qualitative research methods with in-depth interviews as a method of data collection. The result shows that the three research participants have the aspects of "I Have", "I Am", and "I Can"; a participant has "I Can" aspects as a source of resilience, and one other subject has no source of resilience. The study concluded that parental affection and acceptance of the past experience have role to the three sources of resilience (I Have, I Am, and I Can) Keyword : Resilience, adolescence, violence, parents

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Forecasting Revenue Impacts from COVID-19: The Case of Florida Municipalities

State and Local Government Review ◽

10.1177/0160323x211012056 ◽

2021 ◽

pp. 0160323X2110120

Author(s):

Hai (David) Guo ◽

Can Chen

Keyword(s):

Local Government ◽

Short Term ◽

Fiscal Planning ◽

Revenue Structure ◽

Municipal Managers ◽

The Impact

Early in the pandemic, Florida municipal managers indicated that forecasting the impact on local revenues was one of their top priorities in responding to the pandemic, yet such a tool has not been widely available. This study offers simple and straightforward fiscal planning guides for assessing the short-term and long-term impacts of the COVID 19 recession on local government revenues by estimating the revenue declines among 411 Florida municipalities from FY 2021 to FY 2023. The forecast results predict revenues will be reduced by $5.11 billion from 2019 pre-pandemic levels for Florida cities in fiscal years 2021 through 2023. The decline is forecast to be 3.54 percent in FY 2021, 4.02 percent in FY 2022, and 3.29 percent in FY 2023. The revenue structure matters for estimating the revenue decline.

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Paleolithic Diet—Effect on the Health Status and Performance of Athletes?

Nutrients ◽

10.3390/nu13031019 ◽

2021 ◽

Vol 13 (3) ◽

pp. 1019

Author(s):

Barbara Frączek ◽

Aleksandra Pięta ◽

Adrian Burda ◽

Paulina Mazur-Kurach ◽

Florentyna Tyrała

Keyword(s):

Blood Pressure ◽

Body Mass ◽

Positive Impact ◽

Model Assessment ◽

Paleolithic Diet ◽

Short Term ◽

Positive Effects ◽

Short And Long Term ◽

The Impact

The aim of this meta-analysis was to review the impact of a Paleolithic diet (PD) on selected health indicators (body composition, lipid profile, blood pressure, and carbohydrate metabolism) in the short and long term of nutrition intervention in healthy and unhealthy adults. A systematic review of randomized controlled trials of 21 full-text original human studies was conducted. Both the PD and a variety of healthy diets (control diets (CDs)) caused reduction in anthropometric parameters, both in the short and long term. For many indicators, such as weight (body mass (BM)), body mass index (BMI), and waist circumference (WC), impact was stronger and especially found in the short term. All diets caused a decrease in total cholesterol (TC), low-density lipoprotein cholesterol (LDL-C), and triglycerides (TG), albeit the impact of PD was stronger. Among long-term studies, only PD cased a decline in TC and LDL-C. Impact on blood pressure was observed mainly in the short term. PD caused a decrease in fasting plasma (fP) glucose, fP insulin, and homeostasis model assessment of insulin resistance (HOMA-IR) and glycated hemoglobin (HbA1c) in the short run, contrary to CD. In the long term, only PD caused a decrease in fP glucose and fP insulin. Lower positive impact of PD on performance was observed in the group without exercise. Positive effects of the PD on health and the lack of experiments among professional athletes require longer-term interventions to determine the effect of the Paleo diet on athletic performance.

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Methods to Reduce Traffic Speed in High-Pedestrian Rural Areas

Transportation Research Record Journal of the Transportation Research Board ◽

10.3141/1828-04 ◽

2003 ◽

Vol 1828 (1) ◽

pp. 31-37 ◽

Cited By ~ 2

Author(s):

Ali Kamyab ◽

Steve Andrle ◽

Dennis Kroeger ◽

David S. Heyer

Keyword(s):

Rural Areas ◽

Speed Limit ◽

Single Word ◽

Short Term ◽

Speed Reduction ◽

Traffic Calming ◽

Reduction Strategies ◽

Long Term Impact ◽

The Impact

Many Minnesota counties are faced with the problem of high vehicle speeds through towns or resort areas that have significant pedestrian traffic. The impact of speed reduction strategies in high-pedestrian areas in rural counties of Minnesota was investigated. Speed data were collected at two selected study sites under their existing conditions ("no-treatment" or "before" condition) and after the proposed speed reduction strategies were installed. Second "after" data conditions were collected to study the short-term and long-term impact of the implemented strategies. The traffic-calming techniques employed at the Twin Lakes site consisted of removable pedestrian islands and pedestrian crossing signs. A dynamic variable message sign that sent a single-word message ("Slow") to motorists traveling over the speed limit was installed at the Bemidji site. The research study shows that the traffic-calming strategy deployed in Twin Lakes was effective in significantly reducing the mean speed and improving speed limit compliance in both the short term and long term. Despite proven effectiveness, the deployed speed reduction treatment in Bemidji Lake failed to lower the speed at the study site. The single-word message on the sign and the location of the sign, as well as a lack of initial enforcement, were the primary reasons for such failure.

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Impacts of the COVID-19 pandemic on protected area management and conservation outcomes in Mexico

10.32942/osf.io/vcs6r ◽

2021 ◽

Author(s):

Kathryn Powlen ◽

Kelly W. Jones ◽

Elva Ivonne Bustamante Moreno ◽

Maira Abigail Ortíz Cordero ◽

Jennifer N. Solomon ◽

...

Keyword(s):

Management Support ◽

Short Term ◽

Group Data ◽

Management Capacity ◽

Focus Group Data ◽

Technical Capacity ◽

The Impact ◽

Relief Efforts ◽

Management And Conservation

Protected areas (PAs) are under immense pressure to safeguard much of the world’s remaining biodiversity and can be strained by unpredicted events such as the COVID-19 pandemic. Understanding the extent of the pandemic on PA inputs, mechanisms, and conservation outcomes is critical for recovery and future planning to buffer against these types of events. We use survey and focus group data to quantify the impact of the pandemic on Mexico’s PA network and outline the pathways that led to conservation outcomes. On average, across 62 PAs, we find substantial changes in management capacity, monitoring, and tourism, and a slight increase in non-compliant activities. Our findings highlight the need to increase short-term relief efforts and long-term livelihood diversification initiatives for communities dependent on tourism, who were most vulnerable during the pandemic. Increased management support, including technical capacity and financial resources, could also better sustain management activities in future shocks.

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Does salience matter in investment decision?

Kybernetes ◽

10.1108/k-09-2018-0490 ◽

2019 ◽

Vol 48 (8) ◽

pp. 1894-1912

Author(s):

Samra Chaudary

Keyword(s):

Investment Decision ◽

Investment Decisions ◽

Equation Modeling ◽

Individual Investors ◽

Short Term ◽

Content Type ◽

Multigroup Analysis ◽

Money Managers ◽

The Impact

Purpose The paper takes a behavioral approach by making use of the prospect theory to unveil the impact of salience on short-term and long-term investment decisions. This paper aims to investigate the group differences for two types of investors’ groups, i.e. individual investors and professional investors. Design/methodology/approach The study uses partial least square-based structural equation modeling technique, measurement invariance test and multigroup analysis test on a unique data set of 277 active equity traders which included professional money managers and individual investors. Findings Results showed that salience has a significant positive impact on both short-term and long-term investment decisions. The impact was almost 1.5 times higher for long-term investment decision as compared to short-term decision. Furthermore, multigroup analysis revealed that the two groups (individual investors and professional investors) were statistically significantly different from each other. Research limitations/implications The study has implications for financial regulators, money managers and individual investors as it was found that individual investors suffer more with salience heuristic and may end up with sub-optimal portfolios due to inefficient diversification. Thus, investors should be cautious in fully relying on salience and avoid such bias to improve investment returns. Practical implications The study concludes with a discussion of policy and regulatory implications on how to minimize salience bias to achieve optimum and diversified portfolios. Originality/value The study has significantly contributed to the growing body of applied behavioral research in the discipline of finance.

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