This paper reviews the accounting literature that focuses on four Internet-related technologies that have the potential to dramatically change and disrupt the work of accountants and accounting ...researchers in the near future. These include cloud, big data, blockchain, and artificial intelligence (AI). For instance, access to distributed ledgers (blockchain) and big data supported by cloud-based analytics tools and AI will automate decision making to a large extent. These technologies may significantly improve financial visibility and allow more timely intervention due to the perpetual nature of accounting. However, given the number of tasks technology has relieved of accountants, these technologies may also lead to concerns about the profession's legitimacy. The findings suggest that scholars have not given sufficient attention to these technologies and how these technologies affect the everyday work of accountants. Research is urgently needed to understand the new kinds of accounting required to manage firms in the changing digital economy and to determine the new skills and competencies accountants may need to master to remain relevant and add value. The paper outlines a set of questions to guide future research.
Full text
Available for:
GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UILJ, UL, UM, UPCLJ, UPUK, ZAGLJ, ZRSKP
•We examined the extreme risk transmission of blockchain markets.•Risk spillovers among blockchain markets with strong disconnection of NFTs.•NFTs offer greater diversification avenues with ...substantial risk-bearing potential among blockchain markets.
The high volatility of the blockchain markets has driven the attention of investors and market participants to concentrate on the diversification avenues of NFTs, DeFi Tokens, and Cryptocurrencies. We examined the extreme risk transmission of blockchain markets using the quantile connectedness technique at the median, extreme low, and extreme high volatility conditions. We find significant risk spillovers among blockchain markets with strong disconnection of NFTs. Meanwhile, time-varying features characterized various uneven economic circumstances. Overall, NFTs offer greater diversification avenues with substantial risk-bearing potential among other blockchain markets to shelter the investments and minimize extreme risks.
Full text
Available for:
GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UL, UM, UPCLJ, UPUK, ZRSKP
Climate Finance Hong, Harrison; Karolyi, G. Andrew; Scheinkman, José A.
The Review of financial studies,
03/2020, Volume:
33, Issue:
3
Journal Article
Peer reviewed
Open access
Climate finance is the study of local and global financing of public and private investment that seeks to support mitigation of and adaptation to climate change. In 2017, the review of financial ...studies launched a competition among scholars to develop research proposals on the topic with the goal of publishing this special volume. We describe the competition, how the nine projects featured in this volume came to be published, and frame their findings within what we view as a broader climate finance research program.
Full text
Available for:
BFBNIB, INZLJ, NMLJ, NUK, PNG, SAZU, UL, UM, UPUK, ZRSKP
•Time-Frequency comovement among green bonds, stocks, commodities, clean energy, and conventional bonds.•Rolling Window Wavelet Correlation and Wavelet Coherence approaches are employed.•A strong ...evidence that most correlation emerged and reached a peak in the aftermath of GFC 2007-2009.•High diversification benefit of green bonds is significantly revealed due to its low or negative correlation with stocks and commodities.
The paper examines the inter-relationship between green bonds and other asset markets, including stocks, commodities, clean energy, and conventional bonds over 11 years from 2008 to 2019. The dynamic features of correlation across asset pairs over time and in different frequencies are assessed through the rolling window wavelet correlation approach. We find strong evidence that most correlation emerged and reached a peak in the aftermath of GFC 2007-2009. While comovement among stocks, commodities, and clean energy is found relatively high, the diversification benefit of green bonds is significantly revealed due to its low or negative correlation with stocks and commodities.
Full text
Available for:
GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UILJ, UL, UM, UPCLJ, UPUK, ZAGLJ, ZRSKP
We study the impact of higher capital requirements on banks’ balance sheets and their transmission to the real economy. The 2011 EBA capital exercise is an almost ideal quasi-natural experiment to ...identify this impact with a difference-in-differences matching estimator. We find that treated banks increase their capital ratios by reducing their risk-weighted assets, not by raising their levels of equity, consistent with debt overhang. Banks reduce lending to corporate and retail customers, resulting in lower asset, investment, and sales growth for firms obtaining a larger share of their bank credit from the treated banks.
Full text
Available for:
BFBNIB, INZLJ, NMLJ, NUK, PNG, SAZU, UL, UM, UPUK, ZRSKP
We examine the existence and dates of pricing bubbles in Bitcoin and Ethereum, two popular cryptocurrencies using the (Phillips et al., 2011) methodology. In contrast to previous papers, we examine ...the fundamental drivers of the price. Having derived ratios that are economically and computationally sensible, we use these variables to detect and datestamp bubbles. Our conclusion is that there are periods of clear bubble behaviour, with Bitcoin now almost certainly in a bubble phase.
Full text
Available for:
GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UL, UM, UPCLJ, UPUK, ZRSKP
Resumen El mercado de ropa de segunda es una alternativa de economía circular para hacer frente al consumo desmedido y disminuir el impacto ambiental causado por la industria de la moda. En ...Latinoamérica, y Colombia específicamente, este mercado está por explorarse porque los estudios alrededor del tema son limitados, en contraste de las múltiples publicaciones en Estados Unidos y Europa. Esta investigación cualitativa explora las motivaciones de los jóvenes de 20 a 33 años de la ciudad de Medellín, Colombia, frente al consumo de ropa de segunda. Se realizaron auto etnografías con estos consumidores, y luego, se utilizó una escala preexistente de motivaciones de compradores de segunda mano como instrumento en entrevistas a profundidad para narrar sus experiencias significativas con compras de segunda de vestuario. Los hallazgos presentaron dos perfiles de consumidores de ropa de segunda, los apasionados por el diseño y los profesionales conscientes, que se distinguen por movilizar sus intenciones de compra desde motivaciones hedónicas y económicas, respectivamente. Esta investigación ofrece contribuciones para la estructuración de propuestas de valor que respondan a las necesidades de estos compradores.
Abstract
We propose that fund performance can be predicted by its R2, obtained from a regression of its returns on a multifactor benchmark model. Lower R2 indicates greater selectivity, and it ...significantly predicts better performance. Stock funds sorted into lowest-quintile lagged R2 and highest-quintile lagged alpha produce significant annual alpha of 3.8%. Across funds, R2 is positively associated with fund size and negatively associated with its expenses and manager's tenure.
Full text
Available for:
BFBNIB, INZLJ, NMLJ, NUK, PNG, SAZU, UL, UM, UPUK, ZRSKP
Purpose: This research aims to identify the influence of marital status on the attributes’ perception of fooddelivery applications (FDA) by Brazilian consumers, considering convenience, price, ...usability, various foodchoices, and trustworthiness.Methodology: This quantitative research study is based on a survey with a sample of 348 Brazilian FDA users,applying exploratory factor analysis (EFA).Findings: This article sought to answer the influence of marital status (considering people married or ina common-law marriage vs. single, separated, and divorced individuals) on the consumer’s perception ofattributes of food delivery applications (FDAs). The attributes analyzed were price, convenience, usability,various food choices, and trustworthiness. The results demonstrate differences between the groups, withsingle, separated, and divorced individuals emphasizing perceptions of the FDA attributes usability and price.Theoretical contributions: The study extends the theory on m-commerce and FDAs, as well as managerialimplications for companies in the food delivery sector. Armed with such knowledge, marketing managers candevelop strategies focusing on specific interest groups according to marital status, considering the attributesof greatest value for each segment.Relevance/Originality: The increase in FDA consumption has attracted the attention of the most diversemarket segments. This study brings light to new propositions concerning purchase habits by specific groups,reinforcing the need to improve communication between company and user, counting on resources such ascustomization and segmentation to optimize the use of apps.
Full text
Available for:
DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, UILJ, UKNU, UL, UM, UPUK
Objective: The objective of the study is to propose an instrument to evaluate the Competencies forSustainability in Organizations.Originality/Value: The importance of sustainability is clearly ...evidenced in the proposition of theSustainable Development Goals (SDGs). The skills for sustainability portray the commitment tosustainability. Understanding and effectively evaluating this set of skills is important to face theproblems of society and the planet in terms of the environment, economy, and culture, among others,through conscious and sustainable decision making. For there to be a more sustainable world, it isnecessary to understand that all obligors are agents of change endowed with skills that drive themto act and to change. What are the competencies needed for sustainability? By making available aninstrument that aims to identify competencies that promote sustainability, it is intended to expand thescientific discussion on relevant issues that can influence society and help in the construction of a moresustainable future.Design/methodology/approach: The items were compiled on the instrument based on the literature.After analyzing the content of the items, analyzing the specialists, semantic analysis, and pretesting thepreliminary version of the instrument was applied to a sample of 509 respondents.Results: A factor analysis was carried out that revealed two factors: strategic planning for sustainabilityand valuing sustainability. Together, the two factors explained 61.15% of the total variance of theconstruct. The 10 items have constitutive and operational consistency, and the results demonstratedthe construct’s validity with good reliability indexes, good factorial load, and good model adjustmentindexes.
Full text
Available for:
DOBA, IZUM, KILJ, NUK, PILJ, PNG, SAZU, UILJ, UKNU, UL, UM, UPUK
PDF
