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1 – 10 of over 30000The purpose of this study is to analyze the price discovery and market efficiency of energy futures traded in India. The study also examines the volatility spillover effect…
Abstract
Purpose
The purpose of this study is to analyze the price discovery and market efficiency of energy futures traded in India. The study also examines the volatility spillover effect between the cash and futures markets of energy commodities.
Design/methodology/approach
The study uses crude oil and natural gas spot and futures series traded at Multi Commodity Exchange (MCX), India. To evaluate the objectives, the paper employs the cointegration test, causality check, dynamic ordinary least squares (DOLS) method and Baba, Engle, Kraft and Kroner (BEKK) GARCH Model.
Findings
The study supports the long-run association between the selected markets. Unlike natural gas, in the case of crude oil bidirectional, flow of information is observed. The study rejects the unbiasedness and efficient market hypothesis of the energy futures market in India. Further, the study confirms that the selected energy commodities indicate bidirectional shock transmission between their respective cash and futures markets.
Practical implications
The study will assist the commodity market participants in designing their trading strategy. The volatility signal will be used by investors and portfolio managers for risk management and portfolio adjustment. Regulators will be able to anticipate future spillover and can design policies to strengthen the market.
Originality/value
The paper evaluates the three aspects of the energy futures market, namely price discovery, market efficiency and volatility slipover. To the best of the authors’ knowledge, studies on efficacy and shock transmission in the context of the energy futures market in India are rare. Further, the study also contributes by investigating the price discovery process of the energy futures market.
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Arpita Agnihotri, Saurabh Bhattacharya, Georgia Sakka and Demetris Vrontis
The purpose of this study is to explore how past and future temporal focus of CEOs in the hospitality industry influence their intention to invest in metaverse technology and the…
Abstract
Purpose
The purpose of this study is to explore how past and future temporal focus of CEOs in the hospitality industry influence their intention to invest in metaverse technology and the underlying mechanism under boundary conditions of perceived competitive pressure.
Design/methodology/approach
This multi-informant study collected data over three waves from a sample of 235 CEOs and their subordinates in India’s hospitality industry. A PLS-SEM was applied to the study data. Further, the study also used phenomenological interviews to capture CEOs’ perspectives on the study’s conceptual model.
Findings
Findings suggest that the past temporal focus of CEOs decreases technology orientation, and future temporal focus increases the technology orientation of firms, consequently impacting the intention to invest in the metaverse. CEOs’ perceived competitive pressure moderates the mediating relationship, such that the negative impact of past temporal focus on technology orientation is decreased and that of future temporal focus on the CEO is increased.
Research limitations/implications
By exploring the role of a CEO’s past and future temporal focus on influencing technology orientation and, hence, adoption of new technology, the study extends upper-echelon theory to the field of metaverse adoption in the hospitality industry and responds to scholars’ calls to explore the industry’s technology adoption from the lens of the upper echelon.
Practical implications
The study has significant implications for the success of the adoption of metaverse technology in the hospitality industry. Findings imply that the board members should encourage CEOs to have future temporal focus.
Originality/value
The study provides novel insights into the adoption of metaverse technology by the hospitality industry, where CEO attributes such as their temporal focus influence intention to invest in metaverse.
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Thorsten Auer, Julia Amelie Hoppe and Kirsten Thommes
The relationship between variation in time perspectives and collaborative performance is scarcely explored, and even less is known about the respective mechanisms that lead to…
Abstract
Purpose
The relationship between variation in time perspectives and collaborative performance is scarcely explored, and even less is known about the respective mechanisms that lead to varying task performance. Thus, we aim to further the literature on time perspectives and collaborative performance, shedding light on the underlying behavioral patterns.
Design/methodology/approach
We report a quasi-experiment analyzing the impact of past, present and future orientation variation in dyads (N = 76) on their quantitative and qualitative performance when confronted with a simple incentivized creative task with constraints. Subsequently, we offer a qualitative analysis of comments given by the participants after the task on the collaboration.
Findings
Results indicate that a dyad's elevation of past orientation and diversity in future orientation negatively affect collaborative performance. At the same time, there is a positive effect of elevation of future orientation. The positive effect is driven by clear communication and agreement during the task, while the negative effect arises from work sharing and complementation.
Practical implications
This study provides insights for organizations on composing individuals regarding their temporal focus for collaborative tasks that should be executed rapidly and require creative solutions.
Originality/value
Our study distinguishes by considering the composition of past, present and future time perspectives in dyads and focuses on a creative task setting. Moreover, we explore the mechanisms in the dyads with a substantial elevation of/diversity in future orientation, leading to their stronger/weaker performance.
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Using the next-day and next-week returns of stocks in the Korean market, we examine the association of option volume ratios – i.e. the option-to-stock (O/S) ratio, which is the…
Abstract
Using the next-day and next-week returns of stocks in the Korean market, we examine the association of option volume ratios – i.e. the option-to-stock (O/S) ratio, which is the total volume of put options and call options scaled by total underlying equity volume, and the put-call (P/C) ratio, which is the put volume scaled by total put and call volume – with future returns. We find that O/S ratios are positively related to future returns, but P/C ratios have no significant association with returns. We calculate individual, institutional, and foreign investors’ option ratios to determine which ratios are significantly related to future returns and find that, for all investors, higher O/S ratios predict higher future returns. The predictability of P/C depends on the investors: institutional and individual investors’ P/C ratios are not related to returns, but foreign P/C predicts negative next-day returns. For net-buying O/S ratios, institutional net-buying put-to-stock ratios consistently predict negative future returns. Institutions’ buying and selling put ratios also predict returns. In short, institutional put-to-share ratios predict future returns when we use various option ratios, but individual option ratios do not.
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Linna Zhu, Hui Yang, Yong Gao and Qiong Wang
Targeting at the inconsistent relationship between protean career orientation and turnover intentions, this study aims to uncover when and why such inconsistency occurs. It…
Abstract
Purpose
Targeting at the inconsistent relationship between protean career orientation and turnover intentions, this study aims to uncover when and why such inconsistency occurs. It emphasized the mediating role of organizational identification and moderating effects of current organizational career growth and future organizational career growth prospect.
Design/methodology/approach
The authors conducted a three-wave time-lagged study over seven months, with a sample of 1,012 participants from various occupations.
Findings
The relationship of protean career orientation to turnover intentions via organizational identification was negative when current organizational career growth was high, and it was positive when current growth was low. Future organizational career growth prospect weakened organizational identification–turnover intentions relationship. Those two moderators jointly influenced the indirect relationship. For employees low in both states, the positive indirect relationship was the most significant.
Originality/value
By integrating social identity theory and social cognitive theory, this study provides a comprehensive understanding of protean career orientation–turnover intentions relationship. It also enriches studies on protean career orientation and organizational identification–turnover intentions relationship.
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Margie Foster, Hossein Arvand, Hugh T. Graham and Denise Bedford
In this chapter, the authors make the case that preserving and curating knowledge for the future involves more than changing methods and tactics or extending our current…
Abstract
Chapter Summary
In this chapter, the authors make the case that preserving and curating knowledge for the future involves more than changing methods and tactics or extending our current applications and technology to support knowledge capital. It means changing the way we think about the future. It means envisioning multiple futures where various elements may be known or unknown – a four-future quadrant. First, the authors explain what it means to think strategically in multiple known and unknown futures. Next, the chapter presents ideas for strategic thinking about future knowledge preservation and curation. Finally, the authors consider using the four futures to develop a flexible and relevant knowledge preservation and curation strategy.
This chapter explores the multifaceted present-day social and cultural constructions of adolescence in a Nordic Atlantic society, the Faroe Islands. Based on young people’s…
Abstract
This chapter explores the multifaceted present-day social and cultural constructions of adolescence in a Nordic Atlantic society, the Faroe Islands. Based on young people’s perspectives and narratives, this chapter delves into the transition from youthhood to adulthood in the context of a small-scale, family-oriented society in shift. Drawing on sociological theoretical writing about “waiting” and “waithood” in relation to the (often temporally extended or delayed) transition from adolescence to full adulthood in a globalizing world, as well as social anthropological studies of future-making, my aim is to outline the new futural orientations of contemporary adolescence with focus on aspirations for work and family life. Young people, the chapter argues, are waiting and navigating in a society with multiple parallel temporalities: When to marry? When to get children? When to earn your own money and have your own home? These and many other questions define waithood in contemporary society, which is characterized by an increasingly precarious avenue toward promising futures resonating the socially accepted ways of performing adulthood. In the Faroe Islands, an island society with roughly 54,000 inhabitants, young people’s waiting is very often also a question of staying or leaving, that is, mobility and migration strategies. The waiting entails pace as a strategy for the future (Eisenstein, 2021). Adolescent islanders aim to “hit the right pace” in their future imaginaries. This chapter contributes to sociological discussions on the social construction of adolescence with focus on the meaning of time and temporalities. It relies on empirical material from extensive qualitative studies in the Faroe Islands.
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Margie Foster, Hossein Arvand, Hugh T. Graham and Denise Bedford
This chapter applies strategic thinking and four-futures approach to developing a knowledge preservation and curation strategy. The authors explain how using the four futures as a…
Abstract
Chapter Summary
This chapter applies strategic thinking and four-futures approach to developing a knowledge preservation and curation strategy. The authors explain how using the four futures as a baseline refocuses traditional strategy development from linear projections from the present to complex future situations, options, and choices. The refocus also shifts the end stage from evaluation and judgment to continuous assessments of activities, learning, and refresh. A baseline structure is presented as a model for readers. The authors also discuss operationalizing, assessing, and sustaining a knowledge preservation and curation strategy.
Margie Foster, Hossein Arvand, Hugh T. Graham and Denise Bedford