Business Commons^™

Volatility Transmission: Evidence From U.K. Reit & Stock Market Implied Volatility, Mutale Katyoka, Simon Stevenson

Finance Faculty Publications

This paper investigates volatility transmission in the U.K. REIT market. It considers how REIT volatility is related to implied volatility in both the overall stock market as well as that derived from traded options on REIT stocks. The multivariate analysis utilizes both Constant Conditional Correlation (CCC) and Dynamic Conditional Correlation (DCC) GARCH specifications to analyze the interdependence of the data. The findings confirm the presence of volatility transmission across the implied volatility of U.K. REITs, the U.K. implied volatility index, and the U.K. REIT index. The study also applies the variance decomposition approach proposed by Diebold and Yilmaz to examine …

Sharenting In Tourism, Hospitality, And Leisure: When Pride In Your Children Might Put Them At Risk, Jun Wen

Research outputs 2022 to 2026

No abstract provided.

Dismantling Pervasive Gender Stereotypes In Healthcare Leadership Contexts With An Ecological Systems Theory Approach, Andrei A. Lux, Nasim Salehi, Diarmuid Hurley, Elizabeth Emanuel

Research outputs 2022 to 2026

Leadership emergence is fraught with pervasive gender stereotypes, and women remain underrepresented in senior leadership roles, particularly in healthcare organisations. We apply ecological systems theory to explain how environmental factors enable or inhibit women’s leadership emergence in healthcare settings. We interviewed 17 senior female leaders in the Australian healthcare sector to explore how gender-related perceptions affected their leadership journeys. Five themes emerged that challenge existing narratives: men supported women’s advancement; women impeded other women’s progress; vulnerability was a leadership strength; ambitious women were ostracised; and women were ‘given’ leadership opportunities rather than actively pursuing them. By situating these findings within …

Objective.Gg: Uniting Scholastic Esports, Martin D. Beirne Iv

Honors Program Theses and Research Projects

Objective.gg is a startup online recruitment platform within the scholastic esports scene that seeks to unite esports prospects with collegiate esports programs in an effective manner. Currently, there is a large divide that high school and transfer esports prospects must navigate through, and it is Objective.GG’s mission to build a bridge over that gap. Objective.gg seeks to accomplish its mission by operating an online platform that allows prospects and collegiate coaches to create their own profiles and connect with one another, building a community around the platform in the process. This platform will be accessible to both prospects and coaches …

Head For Feminism, Body For Fashion: Fashion And Feminism, Madeline Emke

Honors Program Theses and Research Projects

Fashion and feminism have been connected for a couple of decades in the history of the United States. However, they are often looked at separately by historians. Many historians focus on the history and evolution of fashion while others research and analyze the feminist movements throughout the United States. The current state of the field for a focus on the relationship between feminism and fashion is minimal in regard to the United States. The focus lies on either fashion or feminism and not the relationship between the two. My thesis, however, focuses on the relationship between fashion and feminism and …

Accounting-Based Variables As An Early Warning Indicator Of Financial Distress In Crisis And Non-Crisis Periods, Robert J. Powell, Dung V. Dinh, Nam T. Vu, Duc H. Vo

Research outputs 2022 to 2026

Financial integration in the Association of Southeast Asian Nations (ASEAN) region is a key focus of the ASEAN Economic Community. Whereas many studies focus on modelling corporate default, this paper identifies early warning indicators of financial distress before a default, using multiple discriminant analysis (MDA) models with a sample of listed and delisted companies in the ASEAN region. The analysis examines 720 companies in 10 different industries across six ASEAN countries from 1997 to 2016. The study constructs individual models for each country as well as an overall model for the entire region, using both in-sample and out-of-sample approaches. This …

Are We Talking About The Same Thing? The Case For Stronger Connections Between Graduate And Worker Employability Research, Jos Akkermans, William E. Donald, Denise Jackson, Anneleen Forrier

Research outputs 2022 to 2026

Purpose and approach: This article presents the case for creating stronger connections between research on graduate and worker employability. We offer a narrative review of commonalities and differences between these research streams and offer thoughts and suggestions for further integration and mutual learning. Findings: We outline some of the main theories and concepts in the graduate and worker employability domains. Furthermore, we analyze how these show considerable overlap, though they have barely connected with each other yet. We also formulate an agenda for future research that would spur stronger connections between the fields. Finally, we turn to our fellow authors, …

Opportunities And Challenges Posed By Disruptive And Converging Information Technologies For Australia's Future Defence Capabilities: A Horizon Scan, Pi-Shen Seet, Anton Klarin, Janice Jones, Mike Johnstone, Helen Cripps, Jalleh Sharafizad, Violetta Wilk, David Suter, Tony Marceddo

Research outputs 2022 to 2026

Introduction: The research project's objective was to conduct a comprehensive horizon scan of Network Centric Warfare (NCW) technologies-specifically, Cyber, IoT/IoBT, AI, and Autonomous Systems. Recognised as pivotal force multipliers, these technologies are critical to reshaping the mission, design, structure, and operations of the Australian Defence Force (ADF), aligning with the Department of Defence (Defence)’s offset strategies and ensuring technological advantage, especially in the Indo-Pacific's competitive landscape.

Research process: Employing a two-pronged research approach, the study first leveraged scientometric analysis, utilising informetric mapping software (VOSviewer) to evaluate emerging trends and their implications on defence capabilities. This approach facilitated a broader understanding …

Performance Of Gender Diversity On Board Of Directors: The Case Of Indonesia, Juniarti, Ferry Jie

Research outputs 2022 to 2026

This study further explores women’s role in top management in Indonesia, where men still dominate that position. This study underlines the role of women’s boards of commissioners in producing better financial performance in the specific sectors, manufacturing and service sectors, where the power of women to lead these sectors is more optimal. The sample is selected from the Indonesia Stock Exchange for the period 2009–2018. The final sample is 780 observations. This study applies panel data, which is more robust when controlling heterogeneity. Data panel regression is applied to analyze data. This study finds that gender diversity harms market-based performance, …

Disruptive Change Within Financial Technology: A Methodological Analysis Of Digital Transformation Challenges, Laurie Hughes, Jonathan J. M. Seddon, Yogesh K. Dwivedi

Research outputs 2022 to 2026

The digital transformation of the FinTech industry has revealed a plethora of significant challenges for industry decision makers and wider stakeholder groups as organisations contend with the onset of new regulatory frameworks, legacy systems, flexible business models and alignment with corporate social responsibility practice. The reshaping of organisations and drive to greater levels of decentralisation and employee centric practice, presents a cultural shift for the sector, with implications for the success and resulting benefits of change across the industry. This study aims to develop novel insight to the ‘lived in’ impact of digital transformation within the FinTech industry from a …

Monetary Policy, Macroprudential Policy, And Bank Risk-Taking Behaviour In The Indonesian Banking Industry, Cep J. Anwar, Nicholas Okot, Indra Suhendra, Dwi Indriyani, Ferry Jie

Research outputs 2022 to 2026

There is a growing consensus on the translation of monetary policy actions into changes in credit demand on account of changes in interest rates. The study investigates monetary policy, macroprudential policy, bank-specific and macroeconomic determinants of bank risk-taking from 2010–2022 in Indonesia. The study aims to address a gap in the literature because most previous studies have focused on advanced markets. First, three POLS and fixed effect models are estimated. However, the Durbin Wu-Hausman test indicated endogeneity issues with the estimated models. The second stage uses a system GMM estimation to investigate the impact of central bank rates and macroprudential …

Intermittent Digital Fasting: The Mental Health Benefits Of A One-Hour Daily Social Media Hiatus, Austin Lahue, James Gaskin, Kennedy Daniel

Faculty Publications

In an era where social media ubiquity persists, concerns over its impact on mental health have escalated. This preliminary study investigates the effects of a one-hour daily social media hiatus on the mental wellbeing of 60 college students over two weeks. Unlike common interventions demanding prolonged abstinence, this research explores a more feasible, short-term avoidance approach. The experimental design, including treatment and control groups, illuminates the potential mental health benefits of brief, yet regular, digital disengagements. Preliminary results suggest that even minimal breaks from social media can yield significant improvements in users' mental health. Interestingly, these benefits come not from …

Who Do I Want To Be Now That I’M Here? Refugee Entrepreneurs, Identity, And Acculturation, Lisa Jones Christensen, Arielle Newman

Faculty Publications

This article focuses on a subset of refugees who engage in entrepreneurship shortly after relocating to a new host community; it explores identity-related antecedents and integration consequences of different entrepreneurship strategies in the new location. It draws from acculturation psychology and founder identity theory to argue that, post-arrival, new refugees consider (a) how to prioritize the identity associated with their former life and (b) the degree of connection they desire in the host community. For some, these preferences drive heterogeneous entrepreneurial behaviors associated with different acculturation outcomes—including marginalization, separation, integration, and assimilation. Specifically, we describe two refugee entrepreneur identity management …

Expansionary Federal Monetary Policy And U.S. Banks’ Risk Profiles During The Covid-19 Pandemic-Induced Economic Recession, Maoyong Zheng, Cesar Escalante

Journal of Banking and Financial Economics

This study focuses on the pandemic phase when the U.S. economy dealt with significant economic recessionary pressures due to widespread, prolonged social mobility restraints. The Federal Open Market Committee (FOMC) promptly pursued expansionary policies, such as lowering the federal funds rate to almost zero until February 2022. This study employs a Dynamic Panel Data Generalised Moment Method Model (DPD-GMM) to analyse the impact of the COVID-19 pandemic’s economic shocks and FOMC’s expansionary policy on U.S. banks’ loan portfolio and asset complement risk profiles. Our analysis extends from two pre-pandemic years through the pandemic recession and recovery periods (until early 2022) …

Optimal Empirical Strategy For Deriving The Spot Curve: The Case Of Poland, Piotr Bartkiewicz

Journal of Banking and Financial Economics

We use a proprietary dataset of daily quotations of individual bonds from the period 2005–2018 to assess the appropriateness of three common yield curve intrapolation methods: Nelson-Siegel (NS), Diebold-Li (DL) and cubic splines. Spot (zero-coupon) yield curves derived from the methods are used to price all securities in the sample in both in-sample and out-of-sample settings. The results highlight trade-offs inherent in any empirical strategy: between flexibility and in-sample fit, between overall fit and fit in particular segments of the curve. We look at both in-sample and out-of-sample. Cubic splines offer the best in-sample fit, but out-of-sample results indicate that …

The Impact Of Expansionary Monetary And Fiscal Policy On Firm Performance: A Comparative Analysis Of Pre, During, And Post-Covid Periods, Kofi O. Adansi Pipim

Doctoral Dissertations (DBA)

In this research, we use panel data regression analysis to investigate the impact of expansionary monetary and fiscal policies on firm performance in pre (2017 to 2019), during (2020 to 2021), and post COVID-19 (2022 to 2023) periods. We combine quarterly data sourced from the Wharton Research Data Services (WRDS)-Compustat and the St Louis Federal Reserve Economic Data (FRED) databases. After combining all data, our final sample consists of 3,226 publicly listed firms in the United States. We test the hypothesis that the economic and fiscal policy interventions instituted by the Federal Reserve (Fed) significantly affected firm performance during and …

Relative Impact Of Economic Policy Uncertainty And Mortgage Rates On The Supply Of New Homes For Sale In The United States, Jaclyn M. Devylder-Gaidish

Doctoral Dissertations (DBA)

This paper analyzes the changeable impact of economic policy uncertainty and mortgage rates on the supply of new homes for sale in the United States. The homes supply is proxied by the ratio of new homes for sale to new houses sold. The analysis utilizes monthly data from January 1985 to November 2023. The relationship is assessed using least square regression with second order autoregressive correction as well as Bai-Perron multiple breakpoint regression for structural breaks and Markov switching tests for state-dependency. The results demonstrate a significant direct correlation between economic policy uncertainty and housing supply, but only during the …

Economic Policy Uncertainty And Its Impact On Unemployment Rates Among U.S. Ethnic Groups, Melody Shirley Nimoh

Doctoral Dissertations (DBA)

The study aims to investigate the transmission of Economic Policy Uncertainty (EPU) shocks on unemployment rates across different ethnic groups in the United States. The research employs econometric analysis such as regression modeling to determine the relationship between EPU and unemployment rates among African American, Hispanic or Latino American, and White American communities. The study estimates coefficient estimates for the lagged change in EPU and its impact on respective unemployment rates for each ethnic group. This shows that there are statistically significant positive relationships between EPU shocks and unemployment rates across all ethnic groups. An increase in EPU leads to …

An Examination Of Contemporary Fundraising Trends And Support For A Sustainable Shift To Full-Cost Funding, Alison Scott

Master's Projects and Capstones

For decades, nonprofit organizations have faced immense challenges securing adequate funding that will not only run their programs, but cover all operational and overhead costs. Traditional funding models often restrict funds to specific projects or services, leaving nonprofits with financial instability, and potentially hindering their ability to fully deliver on their missions. Recently, there has been a shift in the philanthropic landscape that challenges these more restrictive fundraising models. As this conversation has grown, the concept of “Full Cost Funding” has gained traction, which calls for a more comprehensive funding approach that covers the full costs of running an organization, …

Impact Of Business Strategy On Carbon Emissions: Empirical Evidence From U.S. Firms, Muhammad Nurul Houqe, Tarek Abdelfattah, Muhammad Kaleem Zahir-Ul-Hassan, Subhan Ullah

All Works

This study examines the nexus between business strategy and carbon emissions by utilising a dataset of U.S. firms from 2007 to 2020. It focuses on two broad types of firms, that is, prospectors and defenders. Regarding carbon emissions, we consider total emissions (Scope 1 & 2), direct emissions (Scope 1) and indirect emissions (Scope 2). The results reveal a significant association between business strategy and total carbon emissions as well as direct carbon emissions. Notably, the results suggest that prospectors, compared to defenders, display higher levels of total and direct carbon emissions. Our findings contribute to the debate on whether …

Analyzing The Effects Of Knowledge Management On Organizational Performance Through Knowledge Utilization And Sustainability, Faezeh Mohaghegh, Halil Zaim, Vladimir Dzenopoljac, Aleksandra Dzenopoljac, Nick Bontis

All Works

In today's turbulent business environment, gaining sustainable competitive advantage requires organizations to manage knowledge capabilities effectively and use resources efficiently. The primary objective of this study is to explore the relationship among knowledge management (KM) processes, including knowledge generation, knowledge codification, and knowledge sharing, with knowledge utilization, sustainability, and organizational performance. The research mainly examines both the direct effect of KM on organizational performance and its indirect effect through sustainability and knowledge utilization. A theoretical framework is introduced and tested using data gathered from companies within the services sector in Kuwait. The results indicate that knowledge utilization and sustainability fully …

Intra-Organizational Knowledge Sharing, Ambidexterity And Firm Performance: Evaluating The Role Of Knowledge Quality, Aleksandra Dzenopoljac, Vladimir Dzenopoljac, Shahnawaz Muhammed, Oualid Abidi, Sascha Kraus

All Works

Purpose: This study aims to examine how knowledge sharing contributes to organizations’ ambidexterity, their overall performance and the role of knowledge quality in this relationship. Knowledge sharing is conceptualized based on tacit and explicit dimensions, and ambidexterity is viewed as comprising exploitative and explorative capabilities. Design/methodology/approach: This study uses a cross-sectional survey-based research design and structural equation modeling to test the proposed model of knowledge sharing and knowledge quality in organizational ambidexterity and the related hypotheses. Findings: The results indicate that tacit knowledge sharing has a significant, direct impact on the exploitative and explorative capabilities of the organization and indirectly …

Performance Prism: A Comprehensive Framework For Performance Measurement In Aircraft Maintenance, Mohammed Timjerdine, Saoudi Taibi, Younes Moubachir

International Journal of Aviation, Aeronautics, and Aerospace

Aircraft maintenance is governed by rigorous safety requirements and high operational complexity, demanding robust performance measurement frameworks to ensure optimal maintenance practices. This paper investigates existing performance measurement methodologies within the sector, highlighting their limitations and the need for a more structured evaluation system. Through this critical analysis of current literature, the paper proposes the Performance Prism (PP) framework as a novel and potentially robust solution for assessing and enhancing aircraft maintenance performance. Because the PP framework integrates multiple dimensions of evaluation, it provides a holistic assessment of aircraft maintenance performance, thereby enhancing reliability, efficiency, and overall effectiveness. Using examples …

Just Culture In Aviation: A Metaphorical Study On Aircraft Maintenance Students, Ramazan Çoban, Cengiz Mesut Bükeç

International Journal of Aviation, Aeronautics, and Aerospace

Just Culture, a sub-dimension of safety culture, has been a prominent and debated topic in aviation safety in recent years. Just culture signifies a work environment where employees are motivated to provide essential safety-related information, but a clear distinction must be made between acceptable and unacceptable behaviours. The aim of this study is to examine the fundamental characteristics of just culture in the aviation sector. The phenomenology method, one of the qualitative research designs, has been adopted in the study. Purposeful sampling was used in the selection of participants, with the sample consisting of 78 students studying in the aircraft …

An Examination Of Airlines Employees' Perceptions Of Sustainability, Green Business Behaviors And Employees' Views On Corporate Reputation, Seda Mumlu Karanfil, Büşra Karakuş

International Journal of Aviation, Aeronautics, and Aerospace

Purpose: The increase in environmental pollution due to the depletion of natural resources has attracted the attention of society and businesses, and the importance of sustainability has increased. In this direction, enterprises have started to carry out activities related to sustainability. The sustainability activities carried out by businesses also have an impact on their corporate reputation. One of the important issues regarding corporate reputation is the perception of sustainability among employees and green business behaviors. For this reason, the research aims to determine the sustainability perceptions and green business behaviors of employees and to evaluate the corporate reputation of businesses …

Managing Uncertainty In The Airline Industry: The Interaction Of Strategic Flexibility, Organizational Learning, And Dynamic Capabilities, Mehmet Sahin Durak, Ferhan Sengur Prof. Dr.

International Journal of Aviation, Aeronautics, and Aerospace

The airline industry is one of the sectors characterized by being highly competitive, dynamic, and uncertain. In addition, the constantly renewed, growing structure and vulnerability to conjuncture of the sector usually renders the sector unstable and unpredictable. In such this environment, one of the most important strategic tools airline companies can use to keep their activities sustainable is increasing their strategic flexibility levels. In this context, this study aims to reveal whether dynamic capabilities mediate the relationship between organizational learning and strategic flexibility in the airline industry. In the research model, the Process Macro plugin, which was developed by Hayes …

The Impact Of Corporate Social Responsibility On Airline Reputation And Passenger Satisfaction And Loyalty, Tamilla Curtis, Scott Ambrose, Wilfred S. Manuela Jr.

International Journal of Aviation, Aeronautics, and Aerospace

Aviation is a driving force of economic and social progress but has negative externalities such as carbon emissions and noise. This paper investigates passenger perceptions of airline corporate social responsibility and its impact on airline reputation and passenger satisfaction. Over 1,300 passenger responses were analyzed using the partial least squares model. The results indicate that the perception of corporate social responsibility influences airline reputation, customer satisfaction, and ultimately, customer loyalty. The findings suggest that focusing on corporate social responsibility initiatives leads to enhanced likeability among airline passengers above and beyond offering quality service. Moreover, likeability is the key aspect of …

Justifying The Cost Of Implementing Contactless Travel In Non-Primary Airports: A European Perspective, Sumeet Hassan Anwar Mr., Humna Asad Miss

International Journal of Aviation, Aeronautics, and Aerospace

In the wake of the COVID-19 pandemic, the aviation industry faces an unprecedented push towards digital transformation. This paper delves into the economic, operational, and safety imperatives of implementing contactless travel solutions in Europe's non-primary airports. By juxtaposing the substantial upfront costs against the long-term operational savings and improved passenger experience, the study presents a compelling financial justification for such investments. Drawing on case studies and current trends, the research demonstrates that, despite initial expenditures, the adoption of contactless technology is a prudent strategy that aligns with evolving consumer preferences and the heightened need for efficiency and safety. The paper …

Passenger Preferences For Ultra Long Haul Flights Vs. Connecting Flights: A Comparative Study Between Asia And Europe, Sumeet Hassan Anwar Mr., Humna Asad Miss

International Journal of Aviation, Aeronautics, and Aerospace

This study looks at passenger preferences in air travel, specifically ultra-long-haul and connecting flights, utilizing a comparative lens between Asia and Europe. It investigates how economic conditions, cultural differences, and regional infrastructure affect flight choices. According to the findings, Asian travelers prefer connecting flights that use hub-and-spoke networks because they are more affordable, whereas European tourists choose direct flights for time efficiency. Furthermore, the interaction between purchasing power and travel intent has a major impact on flight preferences, with business travelers favoring full-service carriers and leisure travelers preferring low-cost options. Cultural factors also influence these decisions, altering airline loyalty, service …

Being Dr. Jekyll And Mr. Hyde: Role-Based Identity Foils In Organizational Life, Blake E. Ashforth, Beth S. Schinoff, Kristie M. Rogers, Donald Lange

Management Faculty Research and Publications

Soldier-medic. Undercover police officer. Collaborative divorce attorney. Certain jobs require an individual to enact antithetical sets of role expectations (to do X and not-X), such as saving a life and taking a life, in the case of a soldier-medic. Despite their important consequences, we lack a unifying framework for such antithetical expectations and their implied identity foils—where one is expected to be both Dr. Jekyll and Mr. Hyde (a life-saver and a life-taker). To this end, we build theory on how and why antithetical expectations and their implied identity foils arise in organizations. We offer a model …