1,720,995 research outputs found
An index of cryptocurrency environmental attention (ICEA)
Full text linkPurpose – (1) A concern often expressed in relation to cryptocurrencies is the environmental impact associated with increasing energy consumption and mining pollution. Controversy remains regarding how environmental attention and public concerns adversely affect cryptocurrency prices. Therefore, the paper aims to introduce the index of cryptocurrency environmental attention (ICEA), which aims to capture the relative extent of media discussions surrounding the environmental impact of cryptocurrencies. (2) The impacts of cryptocurrency environmental attention on long-term macro-financial markets and economic development remain part of undeveloped research fields. Based on these factors, the paper will further examine the effects of the ICEA on financial markets or economic developments.Design/methodology/approach – (1) The paper introduces a new index to capture cryptocurrency environmental attention in terms of the cryptocurrency response to major related events through gathering a large amount of news stories around cryptocurrency environmental concerns – i.e. >778.2 million news itemsfrom the LexisNexis News & Business database, which can be considered as Big Data – and analysing that rich dataset using variety of quantitative techniques. (2) The vector error correction model (VECM) and structural VECM (SVECM) [impulse response function (IRF), forecast error variance decomposition (FEVD) and historical decomposition (HD)] are useful for characterising the dynamic relationships between ICEA and aggregate economic activities.Findings – (1) The paper has developed a new measure of attention to sustainability concerns of
cryptocurrency markets’ growth, ICEA. (2) ICEA has a significantly positive relationship with the UCRY
indices, volatility index (VIX), Brent crude oil (BCO) and Bitcoin. (3) ICEA has a significantly negative
relationship with the global economic policy uncertainty (GlobalEPU) and global temperature uncertainty
(GTU). Moreover, ICEA has a significantly positive relationship with the industrial production (IP) in the short
term, whilst having a significantly negative relationship in the long term. (4) The HD of the ICEA displays
higher linkages between environmental attention, Bitcoin and UCRY indices around key events that
significantly change the prices of digital assets.
Research limitations/implications – The ICEA is significant in the analysis of whether cryptocurrency
markets are sustainable regarding energy consumption requirements and negative contributions to climate
change. Understanding of the broader impacts of cryptocurrency environmental concerns on cryptocurrency
market volatility, uncertainty and environmental sustainability should be considered and developed.
Moreover, the paper aims to point out future research and policy legislation directions. Notably, the paper poses
the question of how cryptocurrency can be made more sustainable and environmentally friendly and how
governments’ cryptocurrency policies can address the cryptocurrency markets.
Practical implications – (1) The paper develops a cryptocurrency environmental attention index based on
news coverage that captures the extent to which environmental sustainability concerns are discussed in
conjunction with cryptocurrencies. (2) The paper empirically investigates the impacts of cryptocurrency
environmental attention on other financial or economic variables [cryptocurrency uncertainty (UCRY) indices,
Bitcoin, VIX, GlobalEPU, BCO, GTU index and the Organisation for Economic Co-operation and Development
IP index]. (3) The paper provides insights into making the most effective use of online databases in the
development of new indices for financial research.
Social implications – Whilst blockchain technology has a number of useful implications and has great
potential to transform several industries, issues of high-energy consumption and CO2 pollution regarding
cryptocurrency have become some of the main areas of criticism, raising questions about the sustainability of
cryptocurrencies. These results are essential for both policy-makers and for academics, since the results
highlight an urgent need for research addressing the key issues, such as the growth of carbon produced in the
creation of this new digital currency. The results also are important for investors concerned with the ethical
implications and environmental impacts of their investment choices.
Originality/value – (1) The paper provides an efficient new proxy for cryptocurrency and robust empirical
evidence for future research concerning the impact of environmental issues on cryptocurrency markets. (2) The
study successfully links cryptocurrency environmental attention to the financial markets, economic
developments and other volatility and uncertainty measures, which has certain novel implications for the
cryptocurrency literature. (3) The empirical findings of the paper offer useful and up-to-date insights for investors,
guiding policy-makers, regulators and media, enabling the ICEA to evolve into a barometer in the cryptocurrency
era and play a role in, for example, environmental policy development and investment portfolio optimisation
How does innovation efficiency contribute to green productivity? A financial constraint perspective
No full textSignificant economic investigation is needed to underpin a successful energy transition, pollution control
and achievement of the Sustainable Development Goals (SDG’s). With the encouragement of SDG’s and
the pressure of government environmental regulation, one of the key areas tackled by mitigating the
detrimental impact on SDG’s is the role of innovation. This paper uses Green Total Factor Productivity
(GTFP) calculated by DEA- Malmquiste Luenberger method to measure the joint economic and environmental efficiency, and raises that innovation efficiency is a good indicator that can better solve the
under and over-estimated effect caused by innovation input and output. We find that innovation efficiency has a positive and significant impact on GTFP with the magnitude of 0.227. In addition, the
contribution of innovation efficiency on GTFP is significant different for firms cleaner and dirty production industries, for cleaner production the coefficient is 0.424, while only 0.021 for the impact on
pollution intensive industries. We further uncover that the financial constraint is the mechanism that
impacts on the relationship between innovation efficiency and GTFP. Financial constraint negatively
impacts on the relationship between innovation efficiency and GTFP, and the impact is 0.396 for all the
firms. Specifically, financial constraint decreases the GTFP through restricting the innovation efficiency
for cleaner production firms by 0.493, and 0.559 for pollution intensive firms. These empirical
findings give clear policy implications: rather than continually devoting in innovation input, the firms
and policy makers should consider the innovation efficiency and the green finance development
The causes and consequences of household financial strain: a systematic review
No full textThe 2007–08 financial crisis caused a deep global recession with lasting effects on economies worldwide. Millions of households in developed countries currently report having difficulty making ends meet. In this paper, we systematically review finance and economics research on household financial strain to identify research gaps. We find that economists could make a valuable contribution to this literature. More analysis involving developed economic theory would provide clarity to partial and sometimes contradictory results. Research could explore aspects of the dynamics of financial strain; heterogeneity in coping strategies and the association with health outcomes. A few themes suggested in other literatures could also be examined such as the relative importance of chronic and acute stress as well as the roles of habituation and sensitization for welfare outcomes.<br/
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
The causal effect on firm performance of China's financing–pollution emission reduction policy: Firm-level evidence
No full textThe relationship between pollution emissions and economic development matters greatly to sustainable growth goals. China has experienced rapid growth in pollution emissions, energy consumption, and the effects of climate change. To achieve pollution reduction and energy savings targets, China's green loan policy implements a financing-pollution emissions reduction strategy for Chinese firms. Employing a difference-in-difference estimation method, we use Jiangsu Province manufacturing firm data for the period 2005 to 2013 to evaluate the effect of financing-pollution emission reduction policy tools on firm performance. Our analysis yields the following results. First, the financing-emission reduction policy has a "punishment" effect on highly polluting firm performance, including total factor productivity, profitability, and sales growth. Second, we find that these negative effects are weakened in dynamic processes. Further, pollution emissions are significantly reduced. Third, financial constraints act as the mechanism through which firm performance is punished, via the financial-emission reduction policy. Short-term and long-term bank financing decrease, while working capital and trade credit are increased to finance investment. Finally, with regard to ownership structure, state-owned firm performance is more likely to be penalized than other forms of ownership
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Does environmental awareness fuel the electric vehicle market? A Twitter keyword analysis
No full textZero emission battery electric vehicles and plug-in hybrid electric vehicles have the ability to reduce CO2
emissions and hence mitigate climate change. Consequently, understanding the macroeconomic drivers of sales
has been of increasing interest in the past years. One factor that has frequently been investigated in relation to an
individual's electric vehicle purchase intentions is his or her level of environmental awareness (EA). Previous
research analysing this question on a macroeconomic level is, however, very limited. Applying a novel method in
this field in form of a Twitter keyword analysis, this study aims to analyse the effect of EA on the electric vehicle
market in 27 member states of the European Union (EU) as well as two European Free Trade Association (EFTA)
states. The results of the investigation show that EA does not significantly influence the electric vehicle market in
the investigated time period, and instead indicate why other factors might currently play a more significant role.
We contribute to the existing literature by introducing a new measurement method of EA to this research field
and by contributing to the understanding of the impact of EA on electric vehicle registrations
Dispelling the Myths Behind First-author Citation Counts
Full text linkWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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