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Sukuk and bond dynamics in relation to exchange rate
No full textPurpose: This study aims to contribute by expanding the existing literature on Sukuk return and volatility and exploring the implications of the Sukuk-exchange rate interactions.
Design/methodology/approach: This study examines the dynamic interactions of Sukuk with exchange rate in 15 countries, employing the Wavelet approach that considers both time and investment horizons.
Findings: The results reveal significant evolving coherence of Sukuk return and volatility with the underlying exchange rate. The relationship is more potent than what this study witnesses in their counterpart bond market. For Sukuk returns, the coherence is negative, whereas it is positive for volatility. Notably, the coherence is strong in the medium to long term and intensifies during extreme economic episodes, especially during the COVID-19 pandemic. These findings are further validated by comparing firm-level matched data for Sukuk and conventional bond.
Originality/value: To the best of the authors’ knowledge, this is the first study that reports the dynamic relationship of Sukuk return and volatility with the underlying exchange rate in 15 countries. Collectively, this study unites valuable insights for faith-based active Islamic investors and cross-border portfolio managers
Designing law and policy for the health and resilience of marine and coastal ecosystems—Lessons from (and for) Aotearoa New Zealand
Get PDFEcosystem-based approaches to marine management, which integrate marine law and policy across sectors, communities, and scales, are increasingly advocated for in international policy debates and scholarly literature. We highlight critical and timely opportunities in Aotearoa New Zealand’s evolving legal context to support an ecosystem-based approach across fisheries regulation, biodiversity conservation, environmental effects management, and Indigenous or customary rights. Given the scale of proposed law reform affecting the ocean in Aotearoa New Zealand, there are important global lessons to be elucidated from (and for) the Aotearoa New Zealand experience, revealing the potential for law to center the health of ocean ecosystems and related people in integrated marine decision making
Clean energy use and subjective and objective health outcomes in rural China
Get PDFThis study analyses the impact of clean energy use on rural residents' subjective health outcomes (self-reported health status, health change, and discomfort) and objective health outcomes (bronchitis, asthma, medical expenditure, and fitness expenditure). Using an inverse probability-weighted regression adjustment estimator and the 2018 China Family Panel Studies data, we address the selection bias associated with clean energy use and estimate the treatment effects. The empirical results show that farmers using clean energy (liquid gas, natural gas, methane, solar energy, or electricity) as the primary cooking fuel report improved health, a lower probability of physical discomfort, and higher fitness expenditures than non-users. Clean energy use does not significantly affect self-reported health, the probability of having bronchitis and asthma, or medical expenditures. The health effects of clean energy use on men differ from those on women; they also vary across different economic strata. We also find that farmers’ decisions to use clean energy are positively associated with their educational level, household income, whether they rent farmland, and their happiness levels but are negatively related to their age, family size, whether they own real estate, and the ratio of elders in their household
The civic legacies of disaster for youth political agency
Get PDFDisasters are considered pivotal in young people's lives, yet their civic legacies have been neglected. We examine how youth political agency is shaped through experiences of disaster, drawing on in-depth interviews with young people over a decade of successive disasters in Christchurch, Aotearoa New Zealand. Our study demonstrates that the legacies of disaster for youth agency extend well beyond the narrow spatial-temporal boundaries that often frame disaster response and recovery. We trace the multiple emergent forms of youth political agency in Christchurch, which we describe as ‘react’, ‘reassess’, ‘(re)kindle’ and ‘retreat’, and identify an action-focused politics of ‘doing’ that emerged among some young people in the spaces opened by disaster. Through our analysis, we caution against one-dimensional framings of youth political agency in disaster, such as those that position it as uniformly positive or as useful resource. We argue such approaches hold the potential to essentialise young people and conform their action to the disaster management status quo, while also obscuring the possibilities embedded in their agency. We therefore call for nuanced analysis of the multiple, ambivalent and open-ended legacies for youth political agency that develop in the contested spaces of disaster and compounding crises
Should I go back to the roots to obtain my food? Understanding key factors driving U.S. consumers’ preferences for food foraging over buying and growing food
Get PDFAlternative forms of food procurement have increased in consumer popularity since the occurrence of food price inflation and the ongoing recession in the U.S. The present study explores predictors such as food engagement, food-related COVID-19 concerns, and the importance of sustainable foraging practices as determinants for U.S. consumers’ preferences for food foraging. Two scenarios are investigated, the preference for food foraging over growing food and food foraging over regular food buying. The study is based on an online consumer survey (n = 401) and used partial least square structural equation modeling (PLS-SEM) for the data analysis. Results indicate that food engagement is the strongest predictor for both foraging over buying and foraging over growing scenarios. However, food-related COVID-19 concern appears to only be relevant for the foraging over buying scenario and the importance of sustainable growing practices is only relevant for the foraging over growing scenario. These findings are important because they indicate the attitudinal triggers of food foraging and are therefore of relevance to foraging communities and managers in municipalities, food retail, and horticultural businesses who are associated with traditional and alternative forms of food procurement
Offshore decommissioning horizon scan: Research priorities to support decision-making activities for oil and gas infrastructure
Get PDFThousands of oil and gas structures have been installed in the world's oceans over the past 70 years to meet the population's reliance on hydrocarbons. Over the last decade, there has been increased concern over how to handle decommissioning of this infrastructure when it reaches the end of its operational life. Complete or partial removal may or may not present the best option when considering potential impacts on the environment, society, technical feasibility, economy, and future asset liability. Re-purposing of offshore structures may also be a valid legal option under international maritime law where robust evidence exists to support this option. Given the complex nature of decommissioning offshore infrastructure, a global horizon scan was undertaken, eliciting input from an interdisciplinary cohort of 35 global experts to develop the top ten priority research needs to further inform decommissioning decisions and advance our understanding of their potential impacts. The highest research priorities included: (1) an assessment of impacts of contaminants and their acceptable environmental limits to reduce potential for ecological harm; (2) defining risk and acceptability thresholds in policy/governance; (3) characterising liability issues of ongoing costs and responsibility; and (4) quantification of impacts to ecosystem services. The remaining top ten priorities included: (5) quantifying ecological connectivity; (6) assessing marine life productivity; (7) determining feasibility of infrastructure re-use; (8) identification of stakeholder views and values; (9) quantification of greenhouse gas emissions; and (10) developing a transdisciplinary decommissioning decision-making process. Addressing these priorities will help inform policy development and governance frameworks to provide industry and stakeholders with a clearer path forward for offshore decommissioning. The principles and framework developed in this paper are equally applicable for informing responsible decommissioning of offshore renewable energy infrastructure, in particular wind turbines, a field that is accelerating rapidly
Can citrus farmers earn more from selling online?
Get PDFOnline sales are essential for linking smallholder farmers to a wide range of markets. In essence, online sales not only influence the income received from selling a specific product but also generate spillover effects on total farm income and household income because they promote the sales of other agricultural products and generate regional off-farm work opportunities (e.g. product sorting, packaging, and delivery). Taking citrus as an example, this study explores the income effects of online sales with a focus on net returns from citrus production, net farm income, and household income. We used an endogenous treatment regression model to address the self-selection bias issues of online sales and estimated data collected from 926 citrus-producing households in Jiangxi Province, China. The results show that online citrus sales boost income growth in rural China. Specifically, online sales significantly increased net returns from citrus production, net farm income, and household income by 5,000 Yuan/capita, 8,580 Yuan/capita, and 17,830 Yuan/capita, respectively. The income-enhancing effects of online sales are greater for female household heads than they are for their male counterparts. Our findings emphasise the importance of promoting online sales to improve rural household welfare
The practical role of induced resistance for crop protection
No full textPlants have evolved a highly sophisticated immune system to resist pathogen attack comprising both preformed and inducible mechanisms. Over the last 50 years, various biological and chemical inducers have been used to artificially trigger the defense response in plants, thereby promoting an induced resistance (IR) to subsequent pathogen attack. IR has proven effective for disease control in laboratory and glasshouse conditions but has seldom equalled the level of protection offered by synthetic pesticides in the field. However, renewed interest in IR for crop protection is being driven by legislation to reduce the use of synthetic chemicals in agriculture. Inducers can contribute to integrated crop management strategies when used in combination with fungicides, bactericides, and with other biological control options. Integrating inducers in this way can reduce chemical inputs without loss of efficacy. Moreover, advances in our understanding of plant defense are informing the development of new inducers and guiding new strategies for their implementation in sustainable crop protection. This review will discuss the use of IR in selected cropping systems and describe opportunities for optimizing its potential, including the development of more effective inducers and their integration with conventional and cultural control options
Māori values and agricultural value chains
No full textPresentation given at Research-Policy Nexus Workshop : Nutrition for ALL: What can we learn from communities in Mountain and Hill Region
Development of tannins and methoxypyrazines in Pinot noir grapes and management of their extraction into wine : A thesis submitted in partial fulfilment of the requirements for the Degree of Doctor of Philosophy at Lincoln University
No full textPinot noir is the most important red grape variety grown in New Zealand. Managing extraction of tannins and methoxypyrazines (MPs) in winemaking is crucial for producing high quality Pinot noir wine. This study aimed to investigate the development of tannins and MPs in Pinot noir grape skin, seed, and stem tissues during grape ripening and the management of their extraction into wine via common viticultural (leaf removal) and winemaking (whole bunch fermentation) practices. In addition, this study examined how tannin extractability of different grape tissues is influenced by initial tannin concentration and composition that were affected by leaf removal, rootstock, and clone.
Analysis of tannin and MP development in skins, seeds, and stems of two Pinot noir clones (AM10/5 and UCD5) showed that on a per berry basis, the highest concentrations of tannins were observed in skins 2-3 weeks after véraison, in seeds at véraison, and in stems 4 weeks before véraison. Stem MPs increased toward véraison and decreased towards harvest, while skin MPs remained consistently low or undetectable levels. Two clones showed similar tannin and MP development trends, but AM10/5 exhibited significantly higher seed and stem tannin levels (per berry) and a lower 3-Isopropyl-2-methoxypyrazine (IPMP) and 3-Isobutyl-2-methoxypyrazine (IBMP) levels than UCD5 at harvest. Stem tannins had a comparable tannin concentration (1.09-1.34 mg/berry) to skin tannins (1.04-1.15 mg/berry) at harvest and a similar mean degree of polymerisation (mDP) to seed tannins but lower than skin tannins.
Leaf removal, rootstock, and clone selection were used to manipulate initial berry composition to study the consequent impact on skin, seed, and stem tannin extractability. Leaf removal trial was conducted at 7 days (LR7), 30 days (LR30), and 60 days (LR60) after flowering, comparing to no leaf removal control (LRC). The Swartzman rootstock versus Pinot noir vines on their own roots, and the two clones, AM10/5 and UCD5, were included to assess the impact of rootstock and clone on berry composition. Leaf removal significantly increased anthocyanin concentration, stem, and seed tannin concentration, and mDP of skin tannins. Compared to the own roots, Schwarzman rootstock showed lower seed tannin centration but higher mDP of skin and seed tannins. UCD5 clone showed higher mDP of skin tannins than AM10/5 clone. For the first time, this study reported that stems showed the highest tannin extractability (64%-78%) compared to skins (37-52%) and seeds (26-34%).
The consequent impact of different leaf removal timing on Pinot noir wines was also investigated. Results showed that leaf removal treatments are effective in increasing anthocyanin concentration in grapes and reducing MPs in stems. LR7 and LR30 notably enhanced colour density, polymeric pigments, tannin concentration, and reduced IBMP in resultant wines. In addition, LR7 showed significantly higher skin-originated tannin proportion in wines than LRC. These results indicate the extraction management of colour, tannin, and MPs in Pinot noir wines could be effectively achieved through different timing of leaf removal.
Whole bunch fermentation, a commonly used Pinot noir winemaking practice, was conducted by comparing two clones (AM10/5 and UCD5) with three treatments, 100% destemmed (DS), 30% whole bunch (WB30), and 60% whole bunch (WB60). Higher proportion of whole bunch addition increased skin and stem originated tannin proportion and MP levels in wines. Clone selection is also important for managing tannin and MP extraction, with AM10/5 grapes producing wines having higher concentrations of tannin, polymeric pigments, and darker colour than UCD5 grapes. AM10/5 wines also had higher concentrations of phenylethyl alcohol, but lower concentrations of IBMP and ethyl esters, indicating more floral but less fruity and green notes in wines. These results indicate the clone and whole bunch, or grape stems could be a useful tool to manipulate tannin and MPs in wines.
This research provides winemakers with valuable insights about tannin and MP distribution and relative concentrations in different grape tissues during berry development, as well as implications of leaf removal timing in the vineyard, proportion of whole bunch addition, and clone selection in winemaking to manage and manipulate tannin and MP extraction into wines. These research findings could help winemakers to produce high-quality Pinot noir wines through informed decisions regarding viticultural and winemaking practices