Effects of COVID-19 in E-learning on higher education institution students: the group comparison between male and female

Quality & Quantity - In response to the emerging and ever solution to the COVID-19 outbreak. This study proposes a theoretical framework based on literature and model to determined E-learning...     

Derivative prices from interest rate models: results for Canada, Hong Kong, and United States

In this paper, we compute implied bond and contingent claim prices from the CKLS, Vasicek, CIR, and BS interest rate models using historical estimates for Canada, Hong Kong, and the United States. We find that default-free bond prices and contingent claim prices are sensitive to the assumed model used for these currencies, and that for Canada the CIR is the best, for Hong Kong the Vasicek and CIR models, and for the US the BS model.     

Asymmetric impact of oil prices,exchange rate,and inflation on tourism demand in Pakistan: new evidence from nonlinear ARDL

This study scrutinized the asymmetric impact of oil prices, exchange rate, and inflation on tourism demand in Pakistan using [Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014) Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. In Festschrift in honor of peter schmidt (pp. 281–314). New York, NY: Springer] nonlinear autoregressive distributed lag (NARDL) model. The NARDL bounds test examined the existence of cointegration in study variables, including CO₂ emissions, institutional quality, oil prices, exchange rate, inflation, and tourism demand. The evidence proposes that disregarding the intrinsic nonlinearities may misinform inference. The estimated NARDL model affirmed long-run negative and significant effect of CO₂ emissions on tourism demand, while institutional quality was positively associated with tourism demand. Furthermore, the findings of the study also suggested long-run asymmetric relationship between oil prices, exchange rate, inflation, and tourism demand.     

The Informational Role of Option Trading Volume in Equity Index Options Markets

This paper examines the dynamic relations between future price volatility of the S&P 500 index and trading volume of S&P 500 options to explore the informational role of option volume in predicting the price volatility. The future volatility of the index is approximated alternatively by implied volatility and by EGARCH volatility. Using a simultaneous equation model to capture the volume-volatility relations, the paper finds that strong contemporaneous feedbacks exist between the future price volatility and the trading volume of call and put options. Previous option volumes have a strong predictive ability with respect to the future price volatility. Similarly, lagged changes in volatility have a significant predictive power for option volume. Although the volume-volatility relations for individual volatility and volume terms are somewhat different under the two volatility measures, the results on the predictive ability of volume (volatility) for volatility (volume) are broadly similar between the implied and EGARCH volatilities. These findings support the hypothesis that both the information- and hedge-related trading explain most of the trading volume of equity index options.     

Pakistan's development: An overview

This is the text of two lectures given in the summer of 1980, one at the Institute of Strategic Studies, Islamabad, and the other at the National Defense College, Rawalpindi, Pakistan. The lectures attempted to identify some non-economic determinants of Pakistan's economic performance since the standard economic explanations are not very satisfactory for analysing the country's rather erratic performance over the last three decades. The lectures reviewed Pakistan's economic history from 1947, the time of independence, to 1977, when political power moved once again from a civilian government to a military regime. The lectures underscored the importance of the nature of external economic development, the extent of government commitment to development and the level of participation in economic management as important determinants of economic performance. One of the important conclusions reached was that the governments in the Third World must pay heed to these factors in planning for the difficult times that lie ahead.     

Influence of Leadership on Job Satisfaction: The Moderating Effects of Follower Individual‐Level Masculinity–Femininity Values

The current study examined whether employee individual‐level masculinity–femininity values moderate the relationship between leadership styles (structural, human resource, political, and symbolic) and employee job satisfaction. Overall, the research provided support for the impact of individual‐level masculinity–femininity on follower reactions to various leadership behaviors. The findings indicated that followers who scored high on feminine orientation perceived a weaker relationship between all leadership behaviors and job satisfaction. Followers with more masculine values associated more perceptions of job satisfaction with human resource, political, and symbolic leadership and viewed leaders' structural behaviors as less important for satisfaction at work.     

De facto financial openness and capital mobility

This paper shows that de facto financial openness does (does not) increase capital mobility in developing (developed) countries and that capital is (is not) freely mobile in the most financially open developing (developed) countries.     

Spillover across Eurozone credit market sectors and determinants

We examine spillover and its determinants among Eurozone sector level credit markets using time and frequency domain spillover approaches. Based on network theory and connectedness analysis, we identify the sectors that are major transmitters and receivers of spillover during normal and crisis periods. The rolling window analysis shows that short-run spillover among credit market sectors intensifies during global and Eurozone crisis periods. Further, using Bayesian model averaging, we find that overall financial conditions and stock market volatility are the main drivers of total and sector-level spillover. Our findings have important implications for policymakers and investors interested in Euro-area credit risk at the sector level.     

The interrelation of price volatility and trading volume of currency options

This article examines the interrelations between future volatility of the U.S. dollar/British pound exchange rate and trading volume of currency options for the British pound. The future volatility of the exchange rate is approximated alternatively by implied volatility and by IGARCH volatility. The results suggest the presence of strong contemporaneous positive feedbacks between the exchange rate volatility and the trading volume of call and put options. Previous option volumes have significant predictive power with respect to the expected future volatility of the dollar/pound exchange rate. Similarly, lagged volatilities jointly have significant predictive power for option volume. Although option volume (volatility) responds somewhat differently to individual volatility (volume) terms under the two volatility measures, the overall volume‐volatility relations are broadly similar between the implied and IGARCH volatilities. The results generally support the hypothesis that the information‐based trading explains more of the trading volume in currency options on the U.S. dollar/British pound exchange rate than hedging. © 2003 Wiley Periodicals, Inc. Jrl Fut Mark 23:681–700, 2003