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1712 research outputs found
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The impact of perceived organizational support on work meaningfulness, engagement, and perceived stress in France
No full textInternational audienceAbstract A wide range of actors are seeking to democratize energy systems. In the collaborative governance process of energy system transitions to net zero, however, many energy democracy concepts are watered down or abandoned entirely. Using five renewable energy case studies, we first explore the diversity of energy democratizing system challengers and bottom-up actors. Secondly, we analyze the role of conflict and challenges arising from the subsequent collaborative governance process and identify what appear to be blind spots in the CG literature. Our case studies on Berlin (GER), Jena (GER), Kalmar (SWE), Minneapolis (US) and Southeast England (UK) include different types of policy processes and actors. They suggest that actors championing energy democracy principles play an important role in opening participation in the early stages of collaborative energy transition governance. As collaborative governance progresses, participation tends to be increasingly restricted. We conclude that collaborative processes by themselves are insufficient in maintaining energy democracy principles in the energy transition. These require institutional embedding of participative facilitation and consensus building. The Kalmar case study as our only successful example of energy democracy suggests that a more intermediated and service-oriented approach to energy provision can create a business case for democratizing energy provision through collaborative governance
Twitter matters for metaverse stocks amid economic uncertainty
No full textInternational audienceThis paper examines the influence of economic uncertainty, measured by the Twitter-based economic uncertainty index (TEU), on Metaverse stocks across various time-frequency domains. Employing the Wavelet Local Multiple Correlation analyses, we find a robust correlation between the TEU and Metaverse stocks market across all examined time horizons. Moreover, the findings confirm the positive correlation by including crude oil and gold volatilities. Obtained results bear significant policy implications for investors and traders, emphasizing the importance of considering economic uncertainty in decision-making processes
Realized semi variance quantile connectedness between oil prices and stock market: Spillover from Russian-Ukraine clash
No full textInternational audienceThis study aims to investigate the dynamic relationship between oil prices and stock markets in the G5+ countries using Parkinson's proximal realized volatility. We separate positive and negative semi-variance to compute asymmetric aggregate static spillovers according to the Diebold and Yilmaz (DY) approach. Moreover, we use a Quantile VAR to investigate the behavior of series in different quantiles corresponding to different market scenarios. Consistently with the literature concerns, we use a daily sample of market indices prices with the Brent oil price from June 1, 2017, to July 2, 2022. We found an asymmetric linkage between oil prices and the stock market, which has significant implications for portfolio hedging strategies. Specifically, our research indicates that the impact of the Russian-Ukrainian conflict on the energy crisis has been significantly higher than that of the COVID-19 pandemic, especially in the short term. However, we observe a higher persistence of negative spillovers for COVID-19 compared to those recorded during the Russia-Ukraine war. From a methodological viewpoint, this result enforces the choice of an asymmetric model to investigate the volatility transmission between financial market series. Finally, we found crude oil to emit volatility spillovers in quantiles above 80%. This result emphasizes the instability perceived in crude oil price when general market volatility increase. Quite the opposite, about one-third of oil price shocks, are linked to the national stock exchange uncertainty in low and middle quantiles, underlining the investors' dependency on this commodity. These results have important implications for policymakers and institutional authorities, who must consider the changing macroeconomic environment and reduce dependence on Russian energy
Multi-step impacts of environmental regulations on green economic growth: Evidence in the lens of natural resource dependence
No full textInternational audienceWhether and how environmental regulation and resource dependence contribute to green economic growth has been a focus of academic discussion. This paper analyzes the multi-stage transmission mechanism based on environmental regulation to promote green economic growth, especially the important transmission mechanism of resource dependence. The green economic growth and environmental regulation indicators of 286 Chinese cities were measured from 2003 to 2018 using the Metafrontier Global Slack-Based Measure (SBM) super-efficient Data Envelopment Analysis (DEA) approach and Fuzzy Comprehensive Evaluation (FCE) method. In addition, resource dependence indicators are investigated. Spatial panel and multiple mediator models are used to test the one- and two-step transmission mechanisms of resource dependence concerning the effect of environmental regulation on green economic growth. The results show that resource dependence plays a mediating role in the one-step transmission mechanism. Resource dependence further affects green economic growth by influencing the industrial structure, quality of the government system, foreign investments, technological innovation, manufacturing development, and physical capital, thus constituting a two-step transmission mechanism. Finally, we suggest a new method based on the environmental regulation policy in China, which can be used to break the “curse” of urban resources and realize green economic growth
Time‐varying partial‐directed coherence approach to forecast global energy prices with stochastic volatility model
No full textInternational audienceAbstract For investors and policymakers, forecasting energy prices with accuracy is essential and plays a major role in the global bulk commodity markets. The current study proposes a novel hybrid forecasting model to predict global energy prices, namely, time‐varying partial‐directed coherence with stochastic volatility. The proposed method combines partial‐directed coherence analysis and stochastic volatility models. Accordingly, this study attempts to provide an in‐depth understanding of the relationship between energy markets and global economic conditions as well as the causality pathway between the underlined markets. Monthly data from January 1982 to July 2022 is used in this study. The results show a strong causality between global economic conditions, European oil, and natural gas prices and have profound implications for policymakers. For completeness, we extend the analysis to the forecasting ability of global economic conditions for oil and natural gas prices. The out‐of‐sample results show that the autoregressive model incorporating the global economic conditions index can significantly improve the accuracy of oil and gas price forecasts. In addition, our results are strongly robust over a variety of time horizons for forecasting, and they provide valuable insights into the forecasting choices to guide investment strategies in the energy and financial market
Finance and intelligence: An overview of the literature
No full textInternational audienceAbstract Do more intelligent investors take better economic decisions than less intelligent ones? Is risk attitude, in particular risk/loss aversion, linked to cognitive ability? Does an investor's cognitive ability impact his/her patience? Is financial performance positively linked to investor's intelligence? These research questions have become highly relevant with the development of behavioral economics and behavioral finance, following the recognition that humans are not homo economicus. This paper reviews the several strands of literature devoted to answering the above questions. We first discuss the barely debated definitions and measures of intelligence/cognitive ability used in psychology, economics, and finance. We then review the results related to the (controversial) link between risk aversion and cognitive ability. We observe that the literature provides clear results for patience; individuals with a higher level of cognitive ability being more patient on average. Finally, we review the contributions linking (successfully or not) portfolio choice and financial performance to cognitive ability
I feel morally elevated by my organization’s CSR, so I contribute to it
No full textInternational audienceWhile research addressing the micro-foundations of corporate social responsibility (CSR) has often built on the deontic theory of justice to explain why employees care about their organization's CSR, the mechanisms underlying this deontic path have seldom been examined. Therefore, we study moral elevation, an other-directed moral emotion that, according to deontic theory of justice, could help us understand why employees may react positively to their organization's CSR even when it does not offer employees significant self-centered benefits. We advance that moral elevation substantiates the deontic mechanism put forward to explain why CSR translates into employees' behavior supporting this CSR. We carry out an experiment and a survey that provide support for this hypothesis. By identifying moral elevation as a mechanism underlying the deontic path, our research provides empirical support for the deontic argument in micro-CSR research that employees care about CSR because CSR is the moral thing to do
The consumer–activity relationship and separation distress
No full textInternational audiencePurpose Despite the rich history of examining the connections between symbolic consumption and identity formation, nearly all the research has focused on brands and possessions; the role of activities has been critically overlooked. This study aims to expand marketing’s understanding of identity formation by examining it in conjunction with attribution theory, exploring the relationship between activity engagement and separation distress. Design/methodology/approach A pilot study ( n = 90) using a thematic content analysis reveals six themes (i.e. separation distress, negative emotions, indifference, adapting, positive decision and acceptance), providing support for the conceptual model. The main study ( n = 347) tests the conceptual model via five hypotheses. Findings Self-worth match with an activity predicts the perceived separation distress of stopping the activity. Furthermore, self-activity connection mediates this relationship, but only if consumers believe they are in control of or the cause for stopping the activity. Research limitations/implications This research provides critical baseline understanding of activity consumption. Yet, future research on the topic of activities is needed to advance activity engagement as a unique category of consumer behavior. Practical implications To craft effective messaging and strategies, marketers should consider the meaning and value embedded in consumer activities (not just possessions and brands). Originality/value This research reveals that consumers use activities to construct their identity and manage their self-worth. It also demonstrates that stopping an activity may lead to separation distress
