Fostering customers' pro-environmental behavior at a museum

Understanding visitors' pro-environmental behavior is vital as sustainability is currently a critical issue in the museum industry, yet visitors' pro-environmental decision-making process has not been sufficiently investigated. This study fills this void in the extant tourism literature. While the theoretical base for comprehending the nature of museum visitors' pro-environmental behaviors is still in the introduction stage, our proposed framework for encouraging pro-environmental behavior among museum visitors including cognitive variables, affective variables, willingness to sacrifice, connectedness to nature and pro-environmental intentions was supported through empirical testing. The present study also contributes to helping museum researchers and practitioners clearly understand the dynamic role of each study construct in generating museum visitors' intentions for environmentally responsible behaviors while visiting a museum.     

Facing famine: Somali experiences in the famine of 2011

In 2011–12, Somalia experienced the worst famine of the twenty- first century. Since then, research on the famine has focused almost exclusively on the external response, the reasons for the delay in the international response, and the implications for international humanitarian action in the context of the “global war on terror.” This paper focuses on the internal, Somali response to the famine. Themes of diversification, mobility and flexibility are all important to understanding how people coped with the famine, but this paper focuses on the factor that seemed to determine whether and how well people survived the famine: social connectedness, the extent of the social networks of affected populations, and the ability of these networks to mobilize resources. These factors ultimately determined how well people coped with the famine. The nature of reciprocity, the resources available within people’s networks, and the collective risks and hazards faced within networks, all determined people’s individual and household outcomes in the famine and are related to the social structures and social hierarchies within Somali society. But these networks had a distinctly negative side as well—social identity and social networks were also exploited to trap humanitarian assistance, turn displaced people into “aid bait,” and to a large degree, determined who benefited from aid once it started to flow. This paper addresses several questions: How did Somali communities and households cope with the famine of 2011 in the absence of any state-led response—and a significant delay in a major international response? What can be learned from these practices to improve our understanding of famine, and of mitigation, response and building resilience to future crises?     

Risk spillover and network connectedness analysis of China’s green bond and financial markets: Evidence from financial events of 2015–2020

This study investigated the dynamic return and volatility spillovers, together with the network connectedness analysis between China’s green bond and main financial markets. Based on a multidimensional DCC-GJRGARCH model and the spillover index method, we found significant two-way risk spillovers between the green bond market and traditional bond markets. Moreover, the green bond market was subject to one-way risk spillover from the stock and commodities markets. Meanwhile, risk spillovers between the green bond market, forex market, and monetary market were not significant. Finally, network connectedness analysis provided specific information about connectivity and strength during different subperiods corresponding to financial events. The analysis indicated that under the influence of emergencies, China’s financial market will enhance the risk-spillover level by transforming the same type of market’s internal spillover into cross-market spillover.     

Bank risk,competition and bank connectedness with firms: A literature review

The outbreak of the 2007–2009 financial crisis and of the European sovereign debt crisis again raised questions about the vulnerability and the behaviour of banking institutions. The unconventional monetary policies that followed have flattened the yield curve and created a low interest rates environment. This can give rise to risk-taking behaviour from banks and can therefore undermine the stability of the banking system with negative impact of the credit supply, corporate investment and real economy. This article proposes a literature review on the main determinants of bank lending and risk-taking decisions, going through the competition in the banking market, the bank connectedness with firms and the role of monetary and banking authorities. The systemic risk concept is also discussed as well as its drivers and potential measures that should be monitored by prudential authorities in order to preserve financial stability.     

Dynamic connectedness network in economic policy uncertainties

This study investigates the dynamic connectedness across nine economic policy uncertainty indexes. Our results indicate that the total spillover index is on average 67.4%, indicating a high level of interconnectedness across the nine indexes. In particular, the EU is the largest transmitter of uncertainty connectedness. In addition, China becomes a net transmitter of connectedness during the global financial crisis and European debt crisis. This finding indicates that the uncertainty of Chinese economic policy is an important contributor to the connectedness of the uncertainty network.     

Fashion consumption using minimalism: Exploring the relationship of consumer well-being and social connectedness

The dominance of minimalism as a lifestyle among individuals and its influence on sustainable consumption has increased significantly; still, the concept within academic literature is conjecture in nature and exploratory to date. Also, a concrete definition of the concept and empirical evidence is lacking in academic literature and hence needs to be systemically established. In this context, minimalism has been proposed as a deliberate paradigm shift in consumer behavior grounded on the sustainable lifestyle principle. The data were collected using a highly structured questionnaire from 436 consumers and analyzed using process macros analysis techniques. The study indicates that minimalism is a sustainable lifestyle choice and helps people in achieving consumer well-being and life satisfaction focus on what matters the most in life and where to devote their energies. As a result, people with greater life satisfaction and consumer well-being are likely to experience more positive emotions and fewer negative emotions, eventually leading to an overall state of positive emotional well-being. Moreover, minimalists with high control over their consumption desire further strengthen this relationship. This research deepens the understanding of minimalism in an Asian context by opening a future research avenue and exploring the additional contributions minimalism can make. Moreover this study offers a clear rationale to understand why it is valuable for customers to incorporate minimalism into their lifestyles, which has the potential to motivate the manufacturer to seek more significant production modes which accord with the minimalistic lifestyle.     

Systemic risk contagion in FX market: A frequency connectedness and network analysis

In this study, we analyse systemic risk contagion between a set of most actively traded currencies (EURO, JPY, GBP, AUD, CAD and CHF) by application of VAR based frequency connectedness proposed by Baruník and K?ehlík. By using this novel approach, we gauge foreign exchange (FX) market connectedness in 200‐day frequency band using spectral representation of variance decompositions of VAR and identify directional spillovers between the most actively traded foreign exchange rates. Dynamics of the overall spillover index reveals that the index capture well‐known financial stress incidents properly. Finally, network topology of directional spillovers between currency pairs is provided for visulalization interconnectedness between them.     

Regulation and the connectedness of insurers to the banking sector: International evidence

Using variation across countries and time in the degree to which regulations restrict banks and insurers from engaging in the same activities, we find that property/liability insurers' connectedness to the banking sector declines when regulatory restrictions increase, but life insurers' connectedness to banks does not. The results suggest that the connectedness between life insurers and banks is largely due to these institutions sharing common underlying economic and financial risk factors that exist even when regulation restricts these institutions from engaging in each other's activities.     

基于网络关联与组织演化双重视角的中国跨国公司成长策略研究——来自欧美发达国家的经验借鉴与启示

从网络关联和组织演化两个方面,通过案例分析的研究方法,对欧美跨国公司的成长经验进行归纳和理论梳理。研究表明:在网络关联方面,欧美跨国公司的成长表现为网络广度的不断扩展与深度的不断加强,并且作为网络中心的母国或母公司在加强网络深度时更侧重于对发达区域的投资;在组织演化方面,欧洲和美国的跨国公司的组织模式选择存在差异性。在此基础上,结合中国跨国公司的成长与发展现状,从网络关联程度与组织模式选择两个方面提出中国跨国公司成长的相关策略。     

Spillover Effects among European,the US and Moroccan Stock Markets before and after the Global Financial Crisis

ABSTRACT

This paper assesses return and volatility spillovers among stock markets in Morocco, the US, UK, France and Germany represented respectively by MASI, S&P 500, FTSE 100, CAC 40 and DAX 30 indices, both before and after the global financial crisis (GFC) of 2008. The daily frequency data cover the period from January 2nd, 2002 to June 30th, 2016. Using the Diebold and Yilmaz approach, the results show varying financial connectedness between the Moroccan and the above mentioned developed stock markets. In fact, the significant increase of spillover index during the post-financial crisis period demonstrates that the US and European stock markets were the most affected. On the other hand, despite a relative increase of spillover effects coming from the US and German equity markets, our results show decline in the total net spillovers experienced by the Moroccan market after the recent financial crisis. These findings may provide some useful information to support decision-making and trading strategies for international investors.