Can market state and market volatility explain time-varying momentum profits in South Africa?

PurposeWhile the momentum anomaly is prevalent in South Africa, few have examined the reasons influencing it. This study examines whether momentum profits vary through time and are affected by the state of the market and market volatility between 1998 and 2019.Design/methodology/approachThe authors consider combinations of portfolio construction, such as the lookback period, weighting scheme, measure of volatility and the volatility window period. They further examine the interaction of momentum with sentiment, default risk and semi-deviation as a measure of risk, as a means of testing whether behavioural factors have significant influence.FindingsThe results generally show that neither volatility nor market state has explanatory power on momentum profits.Originality/valueThese results make the momentum anomaly in South Africa an even greater mystery than before as they do not conform to the existing literature from developed economies. The authors do, however, find that default risk is a significant predictor of momentum profits, which is a useful additional factor for those fund managers who utilise momentum strategies. This implies that a fundamental factor, default risk, is a potential explanation for the market-related momentum anomaly.

Research of the factor dependence of egg and egg products consumption in the subjects of the Russian Federation

Importance of consummating eggs and egg products in the diet of the population is determined by their high nutritional value. An egg contains a complete animal protein, it has consumer accessibility (both economic and physical) and prevalence in food markets regardless of the territory. The widespread availability (both assortment and price) of eggs and egg products to some extent can compensate for the deficit in consumption of other types of livestock products, which are often not available for socially vulnerable groups of the population with a low level of income. This food group is one of the most valuable products in the structure of rational consumption that meets the modern requirements of a healthy diet, which is reflected in the relevant Recommendations of the Ministry of Health of the Russian Federation [1]. The conducted research is based on the analysis of the main parameters of eggs and egg products’ consumption. The emphasis is made on the study of statistical information on the number of the living population; the prevailing average per capita money income; consumer average retail prices for the specified food group; the level of consumption, its compliance with a rational level that meets modern requirements for healthy nutrition in equal subjects of the Russian Federation, both in the region, territory, republic, autonomous okrug, autonomous region, and in cities of federal significance: Moscow, St. Petersburg, Sevastopol. The result of the study was confirmation of the direct dependence of the reduction in the consumption of eggs and egg products as a result of a decrease in the population's income. The territorial aspect also indicated the existence of such dependence. All this allows us to assert that the fundamental factor affecting the level of consumption of eggs and egg products is the economic affordability of the food group, which depends on the income of buyers [11; 13].

Antecedents of Product Innovation for Vietnamese SMEs: The Roles of Transformational Leadership and Organizational Culture

Innovation capability is regarded the fundamental factor for firms to survive and achieve competitive advantage in the context of increasing competitive pressure. The purpose of this paper is to elaborate the impacts of transformational leadership (TL) on innovation product via mediating role of a certain form of organizational culture namely collaborative culture. The paper used Structural Equations Modeling (SEM) to examine the relationship among these latent factors using survey data gathered from 215 participants of 61 medium and small-sized firms in Vietnam. The findings of this study highlight the significant impact of TL on product innovation compared to the impact of collaborative culture on product innovation. This study reveals that collaborative culture significantly serves as a crucial mediator in linking the effects of TL on product innovation. Importantly, the findings of this study have advanced the understanding and brought new initiatives on key antecedents by which CEOs and managers should follow and focus their efforts to improve product innovation capability for Vietnamese SMEs. Keywords: Transformational leadership; Organizational culture; Collaborative culture; Product innovation; Innovation capability

Anatomy of the Beginning of the Housing Boom Across U.S. Metropolitan Areas

We provide novel estimates of the location, timing, magnitude, and determinants of the start of the last U.S. housing boom. The last housing cycle cannot be interpreted as a single, national event, as different markets began to boom across a decade-long period, some of them multiple times. A fundamental factor, income of prospective buyers, can account for half of the initial jump in price growth, while expansion of purchases by underrepresented minorities cannot. The start of the boom also was financed conventionally, not by subprime mortgages. The latter's share did rise sharply over time, but only after a multi-year lag.

Biz birgemiz, or Revisiting the Diversification of Russian Language in Kazakhstan

The criteria for pluricentric languages, generalized by the Working Group on NonDominant Varieties of Pluricentric Languages (WGNDV), as well as our earlier condition of tightness, opacity, incomprehensibility of Kazakh Russian were used to discuss the possibility of its gradual formation. Two main conclusions were made: a) the Russian language of the post-Soviet space currently meets the criteria for pluricentric languages; b) the Russian language in Kazakhstan is going through rapid and noticeable diversification processes. The arguments of Kazakhstani linguists who assert (B.Kh. Khasanov, E.A. Zhuravleva, D.D. Shaibakova, etc.) or deny (Z.K. Sabitova, A.K. Kazkenova, etc.) the qualifications of the Russian language as variant in Kazakhstan - a country of long-term and massive Kazakh-Russian bilingualism. Generations of Russian speakers (monolinguals - ethnic Russians, Koreans, Ukrainians and others and bilinguals - Kazakhs, Uzbeks, Uighurs and others) with a dominant Russian or a dominant ethnic language - are involved in the processes of Soviet Russification and modern Kazakhization with different effects. Nowadays the diversification of the Russian language in Kazakhstan is taking place against the background of a fundamental change in the status and functional state of the Kazakh and Russian languages; reducing the number of native Russian speakers; fundamental changes in Kazakh-Russian bilingualism, reflected in the crisis of the linguistic identity of a part of Kazakhstanis, in a linguistic shift towards the Russian language (Koreans, part of Kazakhs, Ukrainians, small ethnic groups, etc.) and a turn of the linguistic shift of Kazakhs; strengthening the position of the Kazakh language in business, culture, education, mass media, interethnic communication; the changed vector of influence of languages (Kazakh Russian) and the openness of the Russian language for oral and written borrowings, especially in media texts; finally, new communication needs of Kazakhstanis. The long-term linguistic and cultural borderland, which forms the internalized conceptual-mental picture of the world inherent in Kazakhstanis, has become a fundamental factor stimulating the diversification processes of the Russian language in Kazakhstan.

Corporate entrepreneurship at the university: the influence of managerial support, autonomy and reward on the innovative behavior of university professors

Purpose The study aims to analyze the influence of managerial support, autonomy and reward perception on the innovative behavior of university professors. Design/methodology/approach Quantitative methodology based on partial least squares structural equation modeling. The sample obtained totaled 208 responses from professors at three public universities in the State of Sao Paulo, Brazil. Findings The results indicate that managerial support is a fundamental factor for developing an organizational environment that is more conducive to innovative behavior and corporate entrepreneurship. However, in educational institutions with a more focused entrepreneurial ecosystem, it was discovered that reward perception is not a fundamental factor for the innovative behavior of university professors. Practical implications From a practical perspective, academic institutions interested in stimulating corporate entrepreneurship should create opportunities for collaboration among professors to solve problems, encourage professors to expose their work beyond the university environment and improve the main indicators of management support and autonomy presented in this research. Social implications The study presents indicators and implications, which are of particular interest for university managers and public policy writers. Originality/value The study is demonstrably original. Through its unique analysis of the innovative behavior of university professors and the connections between variables in the university environment and its use of a robust modeling method in an emerging-economy context, the study furthers existing research by helping to understand why some firms are better than others at corporate entrepreneurship.

What is a Therapeutic Potential of N-Acetylcysteine in Lung Silicosis?

Lung silicosis is a serious pulmonary disease caused by an exposure of lung to inhaled silicon dioxide (SiO2) or silica. Although pathomechanisms of the disease have not been fully elucidated, oxidative stress has been recognized as a fundamental factor triggering a fibrotizing inflammation leading to irreversible changes in lung tissue. Based on this knowledge, therapeutic potential of various antioxidants has been intensively discussed. Among them, N-acetylcysteine with its multiple anti-inflammatory and antioxidant actions and a long-term experience with its clinical use in various diseases appears as a very promising choice. The purpose of this article is to review the therapeutic effects of N-acetylcysteine particularly in relation to a lung injury and to point out a potential of N-acetylcysteine in the treatment of lung silicosis.

OPTIMIZATION OF MOTOR ACTIVITY OF STUDENT YOUTH WITH THE USE OF SPORTS GAMES IN THE EDUCATIONAL PROCESS

The article states that physical activity has a positive effect on both mental and physical health and is an important, fundamental factor in the formation, maintenance and strengthening. The importance of optimizing the motor activity of students with the use of sports games in the educational process is determined. The necessity of increasing motivation for physical education classes with the help of sports games is substantiated. It is established that motor activity affects a person's social function, in particular, the adaptation to changes in their role in society in old age, provides an opportunity to play a more active role in society. It was found that volleyball and basketball are the most popular sports among modern youth. Motor activity is important in human life, because in the process of evolution it was formed as a biological human need along with the needs for food, water, self-preservation, and so on. It is known that during exercise in the human body certain mechanisms are triggered, as a result of which the functions of not only the muscular system, but also the respiratory, cardiovascular, nervous and digestive systems are strengthened. Despite the fact that today, the promotion of a healthy lifestyle is actively developing, the influence of regular exercise, various sports and moving games is known, the question of increasing physical activity among student youth still remains. As every year there is a tendency to reduce the level of physical fitness, deteriorating health, a phenomenon such is becoming more widespread, which also has a negative impact on the work of students.

Hybrid Learning Aided Technology-Rich Instructional Tools - A Case Study: Community College of Qatar

Educational Institutions have an essential role in promoting the teaching and learning process, within universities, colleges, and communities. Due to the recent coronavirus COVID 19 pandemic, many educational institutions adopted hybrid learning (HL), which is a combination of classic and online learning. It integrates the advantages of both, and it is a fundamental factor to ensure continued learning. Technological innovations such as HL are changing the teaching process, and how students, lecturers, and administrators interact. Based on this, the Community College of Qatar (CCQ) focused on researching the structures and elements related to the adoption of HL. Thus, the goal of this research paper is to reveal the impact of HL on the learning process in CCQ, and the effective didactic tools required for a successful HL program. Our research questions for assessing and evaluating the learning process at CCQ are as follows: a) Is HL a suitable learning strategy that would best suit the students ?; b) What are the didactic tools needed in the HL program at CCQ ?; c) Will the students meet the learning objectives if HL program is adopted?. A quantitative method was used in this study. Furthermore, a questionnaire was designed for the survey which was designed to measure the opinions of the students, instructors, and administrators about the HL program. It is observed from the results that the majority of students, instructors, and administrators showed a positive attitude toward HL, but some had negative views and experienced challenges. The results were analyzed and discussed to better utilize HL to meet the growing demands of the community.

Mobility in Transportation Surveys

An attempt to identify key factors impacting trip generation in different size cities is presented in this paper. Mobility is the fundamental factor in transport demand models, both for the present state and those for forecast scenarios. Moreover, research on inhabitants' mobility plays an important role in the process of urban and rural traffic modelling. It comes from the fact, regular transport surveys make it easier to determine factors impacting the number of trips taken by inhabitants in any selected study area, and to determine trends in these factors. Presentation of example results of mobility rate based on transportation surveys taken in various areas of Poland is the main goal of this paper. Results of analyses of selected macro-economic factors in transportation systems shaping are presented either. The trends in the number of inhabitants and their age composition, and motorization rates are those factors. They impact mobility ratios in the study area. Values of mobility ratio were developed based on the results of surveys which have been done in Poland till now, and on the authors' research. Mathematical regression models in estimating mobility ratio versus the selected independent factors are the results of this research either.