Business Commons^™

Historical Perspectives In Volatility Forecasting Methods With Machine Learning, Zhiang Qiu, Clemens Kownatzki, Fabien Scalzo, Eun Sang Cha

Seaver College Research And Scholarly Achievement Symposium

Volatility forecasting in the financial market plays a pivotal role across a spectrum of disciplines, such as risk management, option pricing, and market making. However, volatility forecasting is challenging because volatility can only be estimated, and different factors influence volatility, ranging from macroeconomic indicators to investor sentiments. While recent works suggest advances in machine learning and artificial intelligence for volatility forecasting, a comprehensive benchmark of current statistical and learning-based methods for such purposes is lacking. Thus, this paper aims to provide a comprehensive survey of the historical evolution of volatility forecasting with a comparative benchmark of key landmark models. We …

Payments As A Tool For Policy, Aaron Klein

Brookings Scholar Lecture Series

What are the implications of using payment systems to enforce foreign policy (against Russia, Iran, Cuba, etc...) and domestic policy (on-line poker, cannabis, etc..)? What are the long-term ramifications for the United States, with its dominant status as a global financial system and home to the world reserve currency, using payment systems to achieve its political objectives? In this lecture, Brookings Institution scholar and former deputy assistant secretary for economic policy at the Department of Treasury, Aaron Klein discusses the pros, cons, and intended and unintended consequences of our current system. He proposes a path forward to maximize economic growth …

Comparison Of Open Sharing Modes Of Foreign Large-Scale Scientific Facilities And Implications For China, Dacheng Song, Shuai Xiao, Tianming Li, Ke Wen, Dingyi You, Chen Zhang, Qiang Wei, Runtong Guo

Bulletin of Chinese Academy of Sciences (Chinese Version)

The open sharing of large-scale scientific facilities plays a pivotal role in the ecosystem of open science. This is of great significance for promoting the development of science and technology, enhancing innovation cooperation, and boosting the overall competitive strength of nations. Starting from two dimensions of resource scarcity and sustainability, this study systematically sorts out four open sharing modes of large-scale scientific facilities: the public and inclusive sharing mode, the market response sharing mode, the intensive guarantee sharing mode, and the Strategic Cooperation Sharing Mode. Through the comparison analysis of four foreign large-scale scientific facilities, the study further elaborates the …

Build Regional Strategic Emerging Industry Selection System For Major Scientific And Technological Infrastructure: Structural Framework And Practical Consideration, Lingling Zhang, Congli Huang, Feite Zhou, Xiang Xu, Long Liu

Bulletin of Chinese Academy of Sciences (Chinese Version)

Under the circumstances of a new wave of scientific and technological revolution and industrial transformation, it has become imperative for the government’s industrial planning to effectively integrate regional resources with scientific and technological innovation capabilities, identify suitable regional strategic emerging industries, and establish clear directions for industrial development. Drawing on various classical theories of industrial selection from the perspectives of industrial economics and management, this research comprehensively considers six dimensions: technical support capacity of facilities, potential for industrial upgrading, regional resource endowment, social demands, government, and opportunities. Based on the Porter Diamond Model, a robust system is developed to select …

Searching Govinfo.Gov/, Bert Chapman

Libraries Faculty and Staff Presentations

This U.S. Government Publishing Office (GPO) database provides access to information legal, legislative, and regulatory information produced on multiple subjects by the U.S. Government. Content includes congressional bills, congressional committee hearings and prints (studies), reports on legislation, the text of laws, regulations, and executive orders and multiple U.S. Government information resources covering subjects from accounting to zoology.

Twenty Years Of The Application Of Rooney Rule And Diversity Practices In The Nfl Workplace, David M. Savino

Journal of the North American Management Society

While the inception of the Rooney Rule has been generally applauded in its intention, the results achieved have been less than noteworthy. In the 20 years since its inception and application in team searches for head coaches of the National Football League, the outcome may be a true sign of the difficulty associated with creating fair and equitable job opportunities in any workplace. Also, there has been a long-standing and deeply entrenched system that has been in place, especially in the sports world, to ensure little change in the overall system. This has not only been true for the sports …

Working Remotely And Corporate Culture Wars In The Post-Pandemic Era, David M. Savino, Danielle C. Foster

Journal of the North American Management Society

Organizational culture is a sacred element of any organization. It is the lifeblood and the guiding force that makes each organization unique in its ability to navigate day-to-day and longer-term perspectives of corporate operations. Strong cultures help identify direction and philosophy and provide confidence in how to proceed to pursue innovative ideas and solve problems. Since 2020, the core value and the strength of many organizational cultures have been tested as a result of the increased reliance on working remotely and the adoption of a hybrid model of business operations not previously utilized to a great degree. While many survived …

Introductory Economics: Gender, Majors, And Future Performance, Natsuki Arai, Shian Chang, Biing-Shen Kuo

Economics Faculty Publications

By investigating the exam scores of introductory economics classes in the business school at National Chengchi University in Taiwan between 2008 and 2019, we find three sets of results: First, we find no significant difference between genders in the exam scores. Second, students’ majors are significantly associated with their exam scores, which likely reflects their academic ability measured at college admission. Third, the exam scores are strong predictors of students’ future academic performance.

Nebraska Monthly Economic Indicators: March 1, 2024, Eric Thompson

Leading Economic Indicator Reports

The Leading Economic Indicator-Nebraska rose by 0.58% in January 2024. The increase in the leading indicator, which is designed to predict economic growth six months into the future, suggests that the Nebraska economy will grow through mid-2024. Two components of the leading indicator improved during January. To begin with, respondents to the January Survey of Nebraska Business reported plans to increase sales and employment over the next six months. Further, the Nebraska labor market improved. Initial claims for unemployment insurance fell during January, suggesting that employers see sufficient demand to support their current workforce.

Chinese Digital Platform Companies’ Expansion In The Belt And Road Countries, Yujia He

Patterson School of Diplomacy and International Commerce Faculty Publications

The emergence of digital platforms is shifting the digital economy toward a platform economy, and Chinese platform-based businesses like Alibaba, Tencent, and JD are increasingly expanding in the Global South. Alongside this, the Chinese government has been promoting digital economy collaboration with emerging markets through high-level engagement under the banner of the Belt and Road Initiative (BRI) and its digital economy component the Digital Silk Road (DSR). Despite significant market interest and policy attention, grounded empirical analysis of Chinese digital platforms’ expansion within Belt and Road Initiative countries is scarce. This study employs a mixed-methods approach, drawing on both quantitative …

Essays On Empirical Asset Pricing, Luying Wang

Dissertations and Theses Collection (Open Access)

The dissertation consists of three chapters on empirical asset pricing. The first chapter examines
the market return predictability of media coverage on climate change. Specifically, we introduce a
comprehensive media climate change concern (ΔCMCCC) index, derived from unexpected climate
change coverage across diverse media channels, including print (newspapers), voice (radio), and
video (television). We show that this index negatively predicts aggregate stock market returns, both
in-sample and out-of-sample, offering potential gains for investors. Our findings emphasize the
media’s influence on market returns through climate change discussions, mainly via the cash-flow
channel. This reveals possible shifts in product demand, while demand …

Within-Development Density And Housing Prices In Singapore, Eric Fesselmeyer, Haoming Liu, Louisa Poco

Research Collection College of Integrative Studies

This paper measures how much more households pay for less density in their immediate surroundings. Using transaction and administrative data and exploiting the introduction of a regulation that restricted the number of housing units for certain land lots, we find that households discount density: a 10% increase in within-development density decreases the price per square meter by 5%. Further, the mean price per square meter of the average development increased by 1%–3% after the regulation was introduced, while the amount of built-up space remained constant. The increase in total revenue suggests developers may underestimate the externality caused by density.

Covid-19 And Its Impact On Multinational Enterprises: A Modified Value At Risk Approach, Kashi Khazeh, Leonard Arvi, Robert C. Winder

Journal of Global Business Insights

Multinational enterprises (MNEs) operating across different currencies are exposed to exchange rate risk. They may utilize a variety of tools to mitigate that risk. While there are different types of exchange rate risk, this study focuses specifically on the ongoing exposure of cash flow transactions denominated in the currencies of seven different developed countries. Since other types of risk (i.e., economic and translation) are evaluated based on yearly results, they are not considered in this study. The modified value-at-risk (MVaR) model is employed to estimate the maximum one-period losses during the eighteen months before the onset of the COVID-19 pandemic …

Taking Pleasure In Distinction: Unlocking Specialty Coffee Preference, Ondrej Mitas, Danny D. Han, Belle Struijer, Lotte Willems, Thomas H. Chatwick

Journal of Global Business Insights

Specialty coffee, comprising a tenth of the global coffee trade, is distinguished by its strict quality requirements and traceable origins. The diverse flavor profiles of specialty coffee raise demands on providers to serve individual taste preferences. Prior research has not sufficiently explored how to predict customer preferences for specific flavor profiles or how these preferences influence behavioral intentions such as revisiting or recommending a café. This study hypothesized that customer involvement, the extrinsic factors of coffee experience, and culinary risk-taking would predict flavor preference, which would in turn affect behavioral intentions. In an experiment involving 47 participants, individuals tasted and …

The Influence Of Societal Nationalist Sentiment On Trade Flows, Douglas Dow, Ilya Cuypers

Research Collection Lee Kong Chian School Of Business

In recent years, the world has witnessed a backlash against globalization and a rise in populist and nationalist movements around the world. However, there appears to be little empirical research concerning how these movements, and especially nationalist sentiment, actually influence trade. Therefore, we explore how and when nationalist sentiment within a country influences trade. Our results indicate that the effect of nationalist sentiment on imports is mediated by lower participation in free trade agreements (FTAs) but not via tariffs. Furthermore, we are unable to confirm support for a direct effect of nationalist sentiment on imports, as predicted by the consumer …

Interrelationships Among The Rice Export Prices Of Major Exporting Countries: In Search Of The Leader And Followers, Khondoker Abdul Mottaleb, Alvaro Durand-Morat

Agricultural Economics and Agribusiness Faculty Publications and Presentations

By examining the econometric interrelationships of rice export prices of India, Thailand, Vietnam, Pakistan, the U.S., Argentina, Brazil, and Uruguay, this study examines the most influential rice-exporting countries in the international rice export market. The sampled countries are the source of more than 80% of the global rice exports. In the process, this study relies on online data portals of the United Nations and country-level sources for aromatic and non-aromatic rice export price information from India, Pakistan, and Thailand. This study employed the Prais-Winsten and Autoregressive Distributive Lag (ARDL) estimation processes with the error correction procedure. Combining the findings from …

Horse Racing And Historical Horse Racing’S Impact On The Kentucky Economy: Possible Hhr Saturation?, Thomas E. Lambert

Faculty and Staff Scholarship

The Commonwealth of Kentucky currently has 5 thoroughbred racing tracks and 3 harness racing tracks (Kentucky Horse Racing Commission 2023 and Mint Julep Louisville 2021). As Table 1 below shows, the industry employees roughly 7,000 people (direct jobs), and these jobs annually support another 2,000 jobs or so throughout the state. These 2,000 jobs are jobs that are provided by the suppliers to the horse race tracks (indirect jobs) and jobs that are created by the spending of the race track employees and the employees of suppliers on food, housing, transportation, and clothing by vendors and retailers throughout the state …

“Safe” Annuity Retirement Products And A Possible Us Retirement Crisis, Thomas E. Lambert, Christopher B. Tobe

Faculty and Staff Scholarship

This paper examines a looming possible crisis in many Americans’ retirement plans due to the proliferation of annuity products in their retirement investment portfolios. As defined benefit pension plans have almost completely disappeared as a means of retirement savings and have been replaced by defined contribution retirement plans over the last 40 to 50 years, a great number of private and public sector defined contribution retirement plans have become laden with insurance contracts called annuities. Of the remaining solid defined benefit plans many, through a process called Pension Risk Transfer are being converted to high-risk single entity annuities. Such products …

Empowering Voices: Exploring The Career Trajectories Of Women Of Color Hr Professionals Amid Disruptive Change, Brandi R. Muñoz

Electronic Theses and Dissertations

This study investigated strategies to enhance diversity, equity, inclusion, and belonging initiatives in organizational leadership, focusing on supporting women of color in the workplace. The specific problem addressed was the underrepresentation and barriers faced by women of color in leadership positions despite their potential contributions to organizational success. The study employed a qualitative approach, combining qualitative interviews with socioeconomic data analysis. Data collection methods included semistructured interviews with women of color and a survey to gather demographic and employment information. The sample consisted of 16 women of color human resource professionals working in various industries and organizational settings across the …

The Impact Of Social Media On Customer Behavior – Evidence From Lebanon, Nada Jabbour Al Maalouf, Jean Elia, Chadia Sawaya, Fawzy Boutros

Arab Economic and Business Journal

Purpose: This study investigates the impact of social media advertising on customer behavior; specifically its impact on customer decision-making through social proof, customer perceptions of brands, and customer loyalty. No studies tackled this topic in Lebanon and this gap was the main motive behind this study.

Method: A quantitative deductive method was employed and a questionnaire was sent to Lebanese customers to achieve the objective of the study. The final sample obtained is 147.

Findings: The findings revealed a positive correlation between social media usage, customer decision-making, customer attitudes and perceptions toward brands, and customer loyalty. The study's findings …

From Canonical Law To Offshore Finance: Confessing To Priests And Bankers In Luxembourg, Samuel Weeks

Journal of Global Catholicism

In this article, I address two recurring tendencies that I heard during a recent period of research on banking secrecy in Luxembourg. First, my banker interviewees frequently mentioned personal transgressions for why many of their clients hide assets “offshore.” The wrongdoings my interlocutors cited included not only clients’ tax evasion, bankruptcy, and avoidance of liability – but also divorce, adultery, and the existence of out-of-wedlock children. Second, with a similar frequency, my interviewees drew parallels between the secrecy laws covering bankers and those afforded to other professionals in the country. Article 458 of Luxembourg’s Penal Code, dating from the nineteenth …

Economic Effects Of Pandemic On Us And Indian Economies With Policy Actions In 2019-2023: A Comparative Analysis, Kishore Kukarni Dr., Amitabh S. Dutta

International Review of Business and Economics

COVID 19 pandemic that started in February/March 2019, with happenings in Yuwan, China spread like a wildfire all over the world. All countries faced one of the worst economic challenges in recent centuries if not ever in the history of the mankind. Early predications were so severe and devastating that some forecasters predicted a death-toll of 100 million all over the world, as the virus was not only spreading fast but also had no solution for its serious fatal effects. It was evident that the patients were dying before getting any effective treatments and many of them were elderly individuals. …

Research On Integration Of Innovation Chain, Industrial Chain, Fund Chain, And Talent Chain, Changhong Nie, Feijie Zhao, Chuan Li, Tong Chen

Bulletin of Chinese Academy of Sciences (Chinese Version)

Promoting the integrated development of innovation chain, industrial chain, capital chain, and talent chain is of great significance to the high-quality development of the economy, and its essence is to reduce the various barriers faced by the flow of innovation elements across organizational boundaries, improve the allocation efficiency, better stimulate the main role of enterprises in scientific and technological innovation, and enhance the overall efficiency of the national innovation system. This study analyzes “four chain” integration and puts forward the following suggestions. First, promote the systematic layout and systematic implementation of scientific and technological innovation policies. Second, explore the construction …

Emotional Intelligence Impact On The Creativity Of Project Managers In Architecture Companies Favoring Sustainability, Nada Jabbour Al Maalouf, Jean Elia, Chadia Sawaya, Razan Al Baradhi

Arab Economic and Business Journal

The importance of Emotional Intelligence (EI) was discussed by several authors; however, the impact of EI on the creativity of project managers was not tackled. This gap in the literature was the main purpose of this study. To test the hypothesis which suggests that there is a positive correlation between EI and the creativity of project managers in architecture companies favoring sustainability, a quantitative research approach was employed. Architecture companies favoring sustainability were chosen as the target population because they represent a context where the relationship between Emotional Intelligence and creativity has practical significance, given the industry's focus on sustainability …

Selecting A Measurement System: Using Measurement System Potential Approval Criteria, Karl D. Majeske

International Review of Business and Economics

This paper presents the results of a manufacturer’s quest to identify a measuring strategy during process development. Standard Measurement Systems Analysis (MSA) criteria provide a common framework to evaluate a gauge’s ability to produce data that fairly represents the quality characteristics that describe a part’s fitness for use. Here, MSA criteria, as well as hypothesis tests of precision and bias, are used to compare to two alternative measurement systems. Ultimately, to compare the two systems, measures of MSA criteria are developed that reflect the potential the criteria could reach by eliminating operator-to-operator gauge error.

Misgivings In Measuring Happiness, Sudhanva Char

International Review of Business and Economics

According to a resolution of the UN General Assembly (Resolution 66/281), March 20^th is observed annually as International Day of Happiness. A nation’s overall success is measured by people’s happiness, the litmus test. The World Happiness Report (WHR) states there is consensus about measuring happiness, whereas, happiness is idiosyncratic and its connotation differs from culture to culture, language to language, and even person to person. Personal ‘space’ in all spheres matters, and so do democracy or dictatorship, all factors leading to mismeasures of happiness scores. And so, there are paradoxes in happiness rankings in WHR. Economists have yet to …

Viewing The World Through The Prism Of Cross-Cultural Romances: Film Review Of Christmas As Usual (2023) And Further Reflections, Raja Ramanathan

Markets, Globalization & Development Review

No abstract provided.

Revisiting Late Globalization: A Commentary On Theorizing And Theoretical Deepening, Romeo V. Turcan, Michael Fast

Markets, Globalization & Development Review

No abstract provided.

Flavors And Frailties Of Globalization, Nikhilesh Dholakia, Deniz Atik

Markets, Globalization & Development Review

No abstract provided.

Enhancing Sell-Type Home Reversion Products For Retirement Financing, Koon Shing Kwong, Jing Rong Goh, Ting Lin Collin Chua

Research Collection School Of Economics

Loan-type reverse mortgage plans and sell-type home reversion plans for retirement financing are two well-known equity release plans that entitle homeowners not only to release cash from their properties but also to allow them to age in place. Recently, a new hybrid equity release plan was proposed to incorporate the home reversion plan’s features with an option of staying in the property for a fixed period without being subject to survival. This additional option provides flexibility to homeowners to better meet their retirement financial and personal needs by reducing the financial uncertainty of home reversion products. In this article, we …