Scientific Annals of Economics and Business
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Shelter in Uncertainty: Evaluating Gold and Bitcoin as Safe Havens Against G7 Stock Market Indices During Global Crises
Get PDFThis paper investigates the hedging and safe haven capacity of gold and Bitcoin against the G7 stock market indices during the COVID-19 pandemic, the Russia-Ukraine military conflict, and the Silicon Valley Bank collapse. Using a novel Quantile-VAR connectedness approach, the results show that, at the median quantile, both gold and Bitcoin act as effective hedges during normal market conditions and strong safe-haven assets during the three crises. Gold emerges as the most prominent safe haven asset, outperforming Bitcoin, especially during the war and the SVB collapse. Among the G7 stock market indices, the Japanese and the American stocks may be used as risk diversifiers during crises. As for the rest of the G7 stocks, they are regarded as “risk-on” investments. Next, we assessed the robustness of our results at various quantiles. We found them to be generally consistent with the outcomes obtained at the median quantile, with one exception related to the S&P500.The results show that the repercussions of the COVID-19 pandemic and the war are much stronger than the American banking crisis
Income-Based Economic Determinants of Life Expectancy in Four Groups of Countries Classified by their Levels of Income
Get PDFThis study seeks to determine the role of per capita value added in the main sectors of; agriculture, industry, services, plus per capita GDP, on life expectancy at birth in the four groups of countries classified internationally by; high income, upper middle income, lower middle income, and low-income countries, during the period 1990-2022. Panel data analysis adopted for each group countries, where CS-ARDL approach is used to measure the effect of the independent variables (sector’s value-added per capita income) on the dependent variable (life expectancy at birth). The findings indicate that the per capita values provided by the sectors of industry and services are important factors in increasing life expectancy in high-income countries. Whereas, increases in per capita GDP would significantly extend life expectancy in countries ranging from upper-middle to lower-middle and low-incomes
Assessment of Cryptocurrencies Integration into the Financial Market by Applying a Dynamic Equicorrelation Model
Get PDFThis work aims to contribute to a deeper understanding of cryptocurrencies, which have emerged as a unique form within the financial market. While there are numerous cryptocurrencies available, most individuals are only familiar with Bitcoin. This knowledge gap and the lack of literature on the subject motivated the present study to shed light on the key characteristics of cryptocurrencies, along with their advantages and disadvantages. Additionally, we seek to investigate the integration of cryptocurrencies within the financial market by applying a dynamic equicorrelation model. The analysis covers ten cryptocurrencies from June 2nd, 2016 to May 25th, 2021. Through the implementation of the dynamic equicorrelation model, we have reached the conclusion that the degree of integration among cryptocurrencies primarily depends on factors such as trading volume, global stock index performance, energy price fluctuations, gold price movements, financial stress index levels, and the index of US implied volatility
Exploring Economic Development Strategies for Canadian Indigenous Communities Post-Pandemic
Get PDFThe COVID-19 pandemic has strongly impacted the Indigenous Canadian economy. Indigenous enterprises exist in every industry, from small proprietorships to major organizations employing thousands of people. The research concerning the effects of such peculiarities on Indigenous corporations is sparse. This research aimed to examine how the pandemic affected development companies by comparing pre-epidemic forecasts to the trajectory of Indigenous-owned firms after two years of the pandemic and analyzing its singularities. The study was conducted by the Canadian Council for Aboriginal Business (CCAB) and supported by mixed methods techniques such as surveys, interviews, and non-participatory observations obtained from ten distinct Canadian Indigenous Economic Development Corporations, revealing a reality in which Indigenous businesses confront significant challenges in terms of access to public finance, human resources, community well-being, company diversification, and innovation. The result compared pre-pandemic forecasts and analyses that found Indigenous enterprises failing to recover and move ahead on company diversification and innovations, public finance, human resources, and sustainable development
Insights and Influencers: A Decade of Social Media Marketing Research Revealed Through Bibliometrics
Get PDFSocial media marketing employs channels like Twitter, Facebook, Instagram, and YouTube for purposes such as advertising, customer interaction, sales, and fostering connections with the target audience. A notable gap in prior research within the Scopus database prompted this investigation, employing a bibliometric analysis focused on “(social media marketing OR social media strategy OR social media management OR social media platforms OR social media trends or social media contest OR social media analytics).” Adhering to the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) framework, we scrutinized relevant articles on Scopus from 2013 to November 2023, revealing insights from 1,198 articles. The review findings demonstrate that the number of articles devoted to the study of social media and social media marketing has increased exponentially in recent years. More importantly, the research identifies some of the most influential studies in this area. The paper discusses trends and highlights the challenges related to social media platforms and marketing. To the authors’ knowledge, this represents the first study to review the literature from leading journals on social media platforms in marketing using bibliometric techniques. Furthermore, lays the foundation for future research, guiding scholars to less-explored areas and fostering potential collaborations, thereby enhancing the depth of understanding in this domain
The Multidimensional Nature of CSR: The Role of the CEO Socio-Demographic Profile
Get PDFIt is important to find out why corporations commit to socially responsible activities. Prior research have predominantly applied a uniform perception of corporate social responsibility CSR without paying particular attention to separate CSR activities. This outlook is surprising because firms meet social responsibility expectations through a unique CSR in spite of the stakeholder divergence. For addressing the limitation of these perspectives, this study develops the divergent dimensions of CSR (environment, governance and social). Afterwards, we look into the interdependencies between the different socio-demographic factors specific to the CEO (age, tenure; gender, and education level), accounting for the divergence in the CSR dimensions. Based on a sample of companies listed on the STOXX 600 index throughout the period ranging from 2018 to 2022, the results confirm that age, tenure and education level of the CEO are positively affect the CSR in governance dimension and social dimension. Nevertheless, the gender variable is negatively correlated with their dimensions
Cash Flow Dynamics: Amplifying Swing Models in a Volatile Economic Climate for Financial Resilience and Outcomes
Get PDFIn a volatile economic climate, understanding cash flow dynamics is crucial for companies to improve financial resilience and outcomes. This research focuses on amplifying swing models such as Cash Flow Management (CFM), Solutions (CFS), Dynamics (CFD), Boosters (CFB), Innovations (CFI), and Strategic (CFS) - on cash flow dynamics in a volatile economic climate. By examining the relationship between these models and determinant variables, the study aims to provide insights that can assist companies in achieving financial resilience and outcomes. The data were collected from finance and accounting representatives of 200 companies ((manufacturing (107), services (56), and trade (37)) in Kosovo in 2023 (quarters 1, 2, 3, and the first two months of quarter 4), while processing was done through exploratory factorial, reliability, and multiple regression analyses conducted using SPSS and AMOS software. The results of the study reveal a significant relationship between each cash flow model and the determinant variables. This highlights the importance of these models in comprehending cash flow dynamics within a volatile economic climate. Factors such as optimization strategy clarity, continuous monitoring, effective working capital management, accurate financial decision-making, and technological improvements contribute to positive cash flow. Additionally, precise management of fluctuations, financial advantage, cooperative departmental approaches, and effective communication also play a role in cash flow dynamics. By extending swings models, the study provides valuable insights that can assist firms in achieving financial resilience and overcoming the challenges of a volatile economic environment
The Determinants of Firm Value: A Panel Data Approach on the S&P 500 Companies
Get PDFOver the last two decades, the US companies have faced a series of challenges caused by the two of the most significant events, namely the global financial crisis and the Covid-19 pandemic crisis. To analyze the influence of these crises along with other factors on the firm value represented by Tobin’s Q, there were estimated unbalanced panel data multiple regression models, with cross-section fixed effects, with cross-section and period fixed effects, with cross-section random effects, and with cross-section random effects with period fixed effects, using a sample of 442 non-financial companies included in the Standard & Poor’s 500 index, over a period of 20 years, from 2004 to 2023. The independent variables are divided into three categories, namely financial indicators, corporate governance variables, and dummy variables that indicate the crisis periods. The results showed that the financial leverage, asset tangibility, liquidity, firm size, the number of meetings attended by the board members annually, the proportion of the independent members on the board and the Covid-19 pandemic crisis had a positive effect on the company value, while the firm age, CEO duality, the number of the members on the board, the proportion of the females on the board and the global financial crisis exerted a negative impact on the firm value. To better differentiate the determinants of the firm value in the context of the two major events that occurred during the analyzed period, there were estimated other empirical models using interaction variables between each dummy variable showing the crisis and the other factorial variables
Network Effects on Platform Markets. Revisiting the Theoretical Literature
Get PDFThe characteristics of the bilateral network markets were already studied before 2003, but they focused on specific markets (credit cards or newspaper advertising) without relating implications with third parties. But since the emergence of new business models based on digital platform markets, especially since 2007 with the arrival of the smartphone, business scalability and network effects have skyrocketed. In this article, we carry out a review of the main contributions on network effects in the markets and their implications for the governance of platforms, which is of vital importance to understand the regulatory impacts when trying to limit the effects. negative effects of the market power. In the end, we found that in most studies, same-sided negative network effects are rarely considered, so despite multiple analyzes and empirical studies, there may still be some blind spots in the analysis of the network effects for the platform economies that can be transcendental for the understanding of all the market variables affected by the governance of platforms in monopolistic competition
Analysis of Public Debt in the Context of Crises Generated by Socio-Economic Events. Case Study: European Union Countries
Get PDFIn the current geopolitical configuration, generated by socio-economic and political-military events, with an impact on economic development, the public debt dynamics take on new dimensions. Public debt, as an indispensable concept for improving development strategies in an economic and geopolitical context, is influenced by the macroeconomic indicators’ variation, but also by the internal and external factors’ impact, which generate instability in a dynamic of unpredictable phenomena. Therefore, the study indicates proposals, based on multivariate regression, to capture the most sensitive variations of macroeconomic indicators on sustainable development at the European Union countries level. Moreover, the current European level configuration requires a detailed capture of the connection between public debt and economic growth, by using a VAR model (public debt, a concept that takes on new values in the current context, and economic growth, as the central pillar of sustainable development, analyzed from the perspective of the studied indicators fluctuation). Finally, I analyzed the public debt dynamics for the next period (2000 – 2022) to create a realistic picture, using the ARMA model. The results confirm the direct impact of each event on economic growth and development, and the limitation and elimination of negative effects vary depending on how it is managed and prevented. Also, the link between the economic growth and public debt is confirmed and, at the same time, it constitutes a benchmark that captures the importance of the decisions of the responsible factors regarding the financial-monetary instruments implemented or what is requested to be adopted. In other words, forecasting the public debt dynamics gives a certain stability, but also a strategic vision, offering viable solutions to support sustainable development efforts at European states level