Tomas Bata University in Zlín
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Safe haven for Asian equity markets during financial distress: Bitcoin versus Gold
Get PDFThis study aims to analyse the role of bitcoin and gold as safe haven assets for Asian equity markets during periods of high market uncertainty related to the global COVID-19 pandemic, high volatility and extreme stock market conditions. Our empirical analysis employs the DCC-GARCH methodology to estimate the time-varying relationship between bitcoin/gold and the Asian stock market from 2016 to 2023. Our findings reveal that bitcoin serves as a strong hedge for Taiwan and Pakistan, whereas gold can be considered a strong hedge for Japan, Singapore, India, Thailand and Vietnam. Interestingly, we observe that bitcoin does not exhibit safe haven properties in any of the Asian countries observed. In contrast, gold demonstrates strong safe haven abilities for Singapore, India and Thailand. These results remain consistent across various measures of market turmoil, including the volatility index, COVID-19-related periods and low quantiles on the stock market. Furthermore, our results suggest that the perception and adoption of gold as a safe haven asset in Japan and Vietnam is mainly influenced by global events and uncertainties, rather than localized stock market conditions. These findings offer valuable information for investors, financial institutions as well as policy makers and regulators as to how cryptocurrency and gold have evolved as hedge and safe haven assets in Asia during uncertainty periods.Ton Duc Thang UniversityTon Duc Thang University [FOSTECT.2023.18
Assessment of the dynamic range of magnetorheological gradient pinch-mode prototype valves
Get PDFMagnetorheological (MR) fluids have been known to react to magnetic fields of sufficient magnitudes. While in the presence of the field, the material develops a yield stress. The tunable property has made it attractive in, e.g., semi-active damper applications in the vibration control domain in particular. Within the context of a given application, MR fluids can be exploited in at least one of the fundamental operating modes (flow, shear, squeeze, or gradient pinch mode) of which the gradient pinch mode has been the least explored. Contrary to the other operating modes, the MR fluid volume in the flow channel is exposed to a non-uniform magnetic field in such a way that a Venturi-like contraction is developed in a flow channel solely by means of a solidified material in the regions near the walls rather than the mechanically driven changes in the channel’s geometry. The pinch-mode rheology of the material has made it a potential candidate for developing a new category of MR valves. By convention, a pinch-mode valve features a single flow channel with poles over which a non-uniform magnetic field is induced. In this study, the authors examine ways of extending the dynamic range of pinch-mode valves by employing a number of such arrangements (stages) in series. To accomplish this, the authors developed a prototype of a multi-stage (three-stage) valve, and then compared its performance against that of a single-stage valve across a wide range of hydraulic and magnetic stimuli. To summarize, improvements of the pinch-mode valve dynamic range are evident; however, at the same time, it is hampered by the presence of serial air gaps in the flow channel.Grantová Agentura České Republiky, GA ČR; Narodowe Centrum Nauki, NCN, (2020/39/I/ST8/02916, GACR 21-45236L)Czech Science Foundation (Grantov agentura Ccaron;esk republiky-GACR
Current trends in environmental and energy photocatalysis and ISO standardization
No full textIn this review, we report on the recent progress in photocatalysis, emerging trends, and ISO standardization for various energy and environmental applications. Photocatalysis can address several critical environmental issues by utilizing inexhaustible solar energy and simple operational requirements. In principle, the construction of an ideal photocatalytic material can enable hydrogen production, synthetic fuels, mitigation of excess environmental CO2, N2 reduction to useful NH3, elimination of environmental toxicants, biohazardous waste decontamination, and chemical synthesis reactions. Despite decades of intense research, significant challenges remain before a practical implementation of photocatalysis can be realized for primary applications. Current challenges can be overcome by developing highly efficient materials while overcoming the associated costs in comparison to existing technologies available for specific applications. Specifically, the following emerging engineering design principles have been discussed: (i) surface and interfacial engineering, (ii) defects engineering, (iii) metals as cocatalysts and plasmonic materials, and (iv) heterostructured materials. Special attention is also paid to the sustainability aspects of photocatalysis, especially immobilization, recovery of materials, and miniaturized photoreactors. The emergence of novel photocatalytic materials and applications has made it difficult to make a relative performance comparison due to the lack of a commonly implemented evaluation scale. In this regard, currently available and under development ISO standards pertaining to the evaluation of photocatalytic activity are briefly described and discussed from a critical perspective. An in-depth discussion on the current challenges and prospects of photocatalysis is also presented.DKRVO, (RP/CPS/2022/002, RP/CPS/2022/007); Ministerstvo Školství, Mládeže a Tělovýchovy, MŠMT; Fundação para a Ciência e a Tecnologia, FCT, (2022.06165, LA/P/0056/2020, UIDP/00100/2020)Ministry of Education, Youth and Sports of the Czech Republic - DKRVO [RP/CPS/2022/007, RP/CPS/2022/002]; Fundacao para a Cie ncia e Tecnologia [2022.06165, UIDB/00100/2020, UIDP/00100/2020, LA/P/0056/2020
Unraveling the dynamics of inflation persistence: A long-memory analysis of headline inflation convergence and divergence in European economies
Get PDFThis comprehensive study delves into the Harmonised Consumer Price Index (HCPI) behavior across European economies from the early 2000s to the post-pandemic period. By analyzing the patterns of convergence and divergence in HCPI persistence, the study aims to uncover the common external and country-specific factors driving these dynamics. Utilizing the local Whittle estimation method, the research examines the long-memory properties of headline inflation through monthly data from January 1996 to January 2023. The study expands upon existing knowledge of inflation persistence by exploring its changes and the various patterns of inflation persistence in Europe. The findings reveal significant differences in the persistence of inflation and the underlying factors behind it. As such, the study emphasizes the need for tailored policy approaches and a deeper understanding of inflation's true nature, expectation formation, price-setting behavior, and monetary policy in shaping inflation persistence. Given its important policy implications, this research is highly relevant to the European Central Bank (ECB) and national governments within the Eurozone.Department of Economics Boston Collegenovation Studies, Stockholm DIW Research Fello
Favouring of gifted pupils by elementary teachers: A labelling theory perspective
Get PDFImproving the quality of care for gifted pupils also brings problems related to their favouring. Favouring, as a part of the labeling theory, leads to the selection of gifted and stagnation in their development, making it one of the risk factors. This study identifies and analyses pedagogical situations leading to favouring of gifted pupils. The qualitative research is conducted in the elementary schools in the Czech Republic (Central Europe). Data are obtained through observation of school lessons and from interviews with teachers and were subsequently analysed by the situational analysis. The study has found five typical situations, such as teachers’ increased expectations of gifted pupils, privileges only for gifted pupils, gifted pupil as the teacher’s assistant, additional tasks only for gifted pupils, and gifted pupil as the captain of group work. We also detect typical features leading to favouring as a privilege, representation, performance, segregation, lack of purpose, and rigidity. The study draws attention to the existence of high-quality formalized care for the gifted (anchoring care in school legislation), for which school practice is not sufficiently prepared
The town of Zlín in the interwar years: The Baťa Concern as a decisive participant in municipal politics and public education
Get PDFThe topic of the study is the influence of the Baťa Concern on selected areas of everyday life in the town of Zlín. The text aims to describe, explain and interpret how Zlín’s municipal politics and public education in the example of Masaryk’s experimental upper elementary school were influenced by Tomáš Baťa and other representatives of the Concern between 1923 and 1938 (1945). The data were mainly obtained by studying archival documents stored in the State District Archive Zlín. The presented study focuses on municipal politics and elections in which the Baťa electoral list promised to improve and modernize Zlín’s schools. Then, it seeks the circumstances of establishing and developing the experimental public school system in Zlín. The research results show that the election of Tomáš Baťa as mayor of Zlín represented a turning point for Zlín schools. He and other Concern’s officials became direct participants in local public education from their position as councillors. In this way, a private company could legally manage and adapt public schools to its economic interests
Investing in innovation: The relationship between R&D spending and financial performance in the European pharmaceutical industry
Get PDFThe pharmaceutical industry is highly capital and knowledge-intensive, spending approximately 15% of its total revenue on research and development (R&D). This study aims to find the relationship between pharmaceutical businesses' financial performance and investments made in drug research and development in Europe. The study employs regression analysis with a time-lag effect of R&D spending on operating earnings. It is hypothesised that the investment expenditure of the previous year’s R&D investment will significantly and concurrently impact the economic-financial performance of the country and the findings show a strong and positive link between the previous year’s R&D expenditure and the current year's operating profit in the European countries, providing convincing evidence that R&D investments will pay off financially in the years ahead for the development of pharmaceuticals. The study also conducted diagnosis tests for the validation of the estimated models
Generation alpha media consumption during COVID‐19 and teachers' standpoint
Get PDFWith the development of digital technologies that are part of everyday life, new cultural norms and patterns are developing with which children play, learn, communicate, and socialise in the digital age. Technologies are also fundamentally changing teachers’ attitudes to education. This study aims to determine the motivation of teachers of generation Alpha for using technology and mobile applications, what technologies were preferred by generation Alpha after the second wave of the Covid‐19 pandemic, and for what reason. The research sample included one segment of the Alpha generation, pupils of primary schools (N = 53) and their primary school teachers (N = 83). A qualitative research design was used. The data processed by thematic content analysis identified the themes associated with using digital tools by generation Alpha, according to the teachers. The results showed the teachers’ motivation for using digital technology with generation Alpha, such as meeting their physiological, safety, social, cognitive, aesthetic, and self‐actualisation needs. Generation Alpha’s media applications saturated four needs: entertainment, information, education, and games. They were covered by 12 applications. The findings show that the digital communication activities of generation Alpha refer to the audience’s intentionality, selectivity, and involvement with the media. The presented research opens other possible research topics, such as how new communication and mobile apps influence the behaviours of Alpha generation, value orientation, and well‐being, and how effectively to use mobile apps in education praxis.Tomas Bata University in Zlín, TBU, (RVO/FMK/2022
Bibliometric analysis of virtual reality in tourism and hospitality
Get PDFIt is experienced that the tourism and hospitality industry has been changing dramatically year by year, not only the crisis of the pandemic outbreak related to the restriction of travelling but also due to novel of technology evolution, including applications of virtual reality. In fact, applying virtual world into business operation to increase customer intention have been paid more attention from practitioners, scholars, and stakeholders. Yet, it is necessary to comprehend this field's trend and its impact on business strategies and the future perspective of applying virtual reality experiences in tourism and the hospitality industry. This study mainly aims to examine the current state of research and trends of virtual reality related-tourism and hospitality studies from the beginning to the outbreak of the pandemic and post-pandemic and discuss them over the period time towards the future perspective of this research. By proposing a bibliometric approach to analyse 1441 studies from Scopus data published over three last decades related to virtual reality experience in tourism and hospitality sector to generalize information associated with research opportunity for future in this area. This study uses a combination of RStudio 2022 and VOSViewer 1.6.18 software to analyse databases that were retrieved from reliable resources and the most signification impact so as to provide a whole picture of virtual reality connecting with the relevant context. With regard to offering information in terms of the volume document of studies, citations, authors, countries, authorship networks, keyword networks and keyword co-occurrences, the relevant research direction in this field as well as the top journals and conferences that have most published in this field by over years. By using bibliometric analysis, this study's result gives an understanding of value information and suggestions by visual overview for future virtual reality studies on the tourism and hospitality context
Fear of travelling after COVID-19: The moderation effect of social distancing
Get PDFCOVID-19 has caused unparalleled public dread, which will most certainly impede tourist business recovery once the epidemic is gone. This research investigates the causes of the general public's epidemic travel anxiety, as well as how individuals impose self-protection, coping, and resilience with travel. The study blends theories such as protection motive theory, coping theory, and resilience theory to achieve the research goal. The primary data came from an online poll of 322 Southeast Asian travelers. According to the findings, the magnitude and vulnerability of the danger might induce "travel dread," which leads to protection motivation and precautionary travel behaviors during the pandemic. The findings also demonstrate that social distancing has memory consequences. In other words, individuals who willingly engaged in social separation during the pandemic are more likely to continue doing so in the post-COVID period since their long-term behavior has been influenced.Tomas Bata University in Zlín, TBU; Finance Authority of Maine, FAM