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Dynamic and asymmetric connectedness among fossil energies and stock markets of the Belt and Road countries under shocks from extreme events 极端事件冲击下“一带一路”沿线国家化石能源与股票市场的动态非对称连通性
IF 1.6 Q3 BUSINESS Pub Date : 2024-12-01 Epub Date: 2024-12-04 DOI: 10.1016/j.tncr.2024.200104
Ya-Li Zheng , Ming-Yuan Yang , Kai-Xin Liu , Yi-Kai Chen , Xin Wu
This study investigates the dynamic and asymmetric return connectedness between fossil energies and stock markets of the Belt and Road countries (the B&R stock markets) under shocks from extreme events from 2019 to 2023 by using the time-varying parameter vector autoregression model (TVP-VAR) with the asymmetric connectedness indicator and multilayer spillover networks. We find that: (i) risk spillover between fossil energies and the B&R stock markets is more sensitive to negative information than positive information, and the asymmetry is much larger during periods with exogenous shocks. (ii) The level of risk spillover has significantly increased after the outbreak of extreme events, and the global shock from the COVID-19 pandemic has more widespread and greater impact on the risk spillover than the geopolitical shock from the Russo-Ukrainian war. (iii) fossil energies perform as risk receivers throughout the full sample period, and risks are primarily transferred from high-income countries to low-income countries within the B&R stock markets, this phenomenon is also intensified by the extreme shocks. Our findings provide valuable guidance and have economic implications for both investors and policymakers worldwide to diversify and manage the risks within the global fossil energy market and the B&R stock markets.
本文采用具有非对称连通性指标和多层溢出网络的时变参数向量自回归模型(TVP-VAR),研究了2019 - 2023年极端事件冲击下化石能源与“一带一路”沿线国家(B&;R)股票市场之间的动态和非对称回报连通性。研究发现:(1)化石能源与美国股市之间的风险外溢对负面信息比正面信息更敏感,且在存在外生冲击的时期,这种不对称性要大得多。(二)极端事件发生后风险溢出水平显著提高,新冠肺炎大流行的全球冲击对风险溢出的影响比俄乌战争的地缘政治冲击更广泛、更大。(iii)化石能源在整个样本期内都是风险的接受者,风险主要在B&;R股票市场内从高收入国家转移到低收入国家,这一现象也因极端冲击而加剧。我们的研究结果为全球投资者和政策制定者提供了有价值的指导和经济意义,以实现全球化石能源市场和B&;R股票市场的风险多元化和管理。
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引用次数: 0
Corrigendum to “Revisiting openness-growth nexus: Panel data estimates for selected developing Asian countries” [Transnational Corporations Review 16 (2) (June 2024) 200051] 重新审视开放与增长的关系:选定亚洲发展中国家的面板数据估计"[《跨国公司评论》16 (2) (2024年6月) 200051] 更正
IF 1.6 Q3 BUSINESS Pub Date : 2024-12-01 Epub Date: 2024-09-12 DOI: 10.1016/j.tncr.2024.200093
Towseef Ahmad Shan , Sajad Ahmad Rather , Hilal Ahmad Dar
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引用次数: 0
The adaptation and transformation of Yiwu's foreign trade enterprises amid major changes unseen in a century (2001–2021) 义乌外贸企业在百年未有之大变局中的嬗变(2001-2021 年)
IF 1.6 Q3 BUSINESS Pub Date : 2024-12-01 Epub Date: 2024-07-14 DOI: 10.1016/j.tncr.2024.200080
Xinhe Shou , Qi Shi , Xiaotong Zhang

The world is undergoing major changes unseen in a century. The profound and complex changes in the international trade landscape since China's accession to the WTO have put China's foreign trade enterprises to the test as they have embarked on a path of transformation and upgrade. As a barometer of China's foreign trade sector, Yiwu has progressed through three stages of development: rapid development after China's WTO accession, adaptation and innovation following the global financial crisis, and coordinated development amid deepening reforms. This paper explores such an evolutionary journey from the perspectives of foreign trade, market development, logistics infrastructure, export modalities, policy support, and the trade environment.

世界正在经历百年未有之大变局。中国加入世贸组织后,国际贸易格局发生了深刻而复杂的变化,中国外贸企业在转型升级的道路上经受着考验。作为中国外贸行业的 "晴雨表",义乌经历了入世后的快速发展、全球金融危机后的适应创新、深化改革中的协调发展三个发展阶段。本文从对外贸易、市场开发、物流基础设施、出口方式、政策支持和贸易环境等方面探讨了义乌的发展历程。
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引用次数: 0
Unraveling the complexity of cyberbullying: Development and validation of a comprehensive questionnaire 揭示网络欺凌的复杂性:综合问卷的开发与验证
IF 3.5 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-05-10 DOI: 10.1016/j.tncr.2024.200073
Kanakarn Phanniphong , Laongsri Niangchaem , Khahan Na-Nan , Apiwat Arunyaphum

This study aims to examine the construct validity and discriminant validity of a cyberbullying questionnaire, as well as explore the practical implications of the findings. The study utilizes exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) to validate the measurement model of the cyberbullying questionnaire. Data analysis is conducted using established statistical techniques. The results reveal the presence of six distinct dimensions of cyberbullying: Online Privacy Violation, Online Harassment and Discomfort, Online Exclusion and Privacy Violation, Disturbance and Intimidation, Identity Impersonation, and Spread of Secrets. The questionnaire demonstrates good construct validity and discriminant validity, providing a reliable tool to measure cyberbullying experiences. This study is limited to a specific population and cultural context. Further research is needed to validate the questionnaire in diverse populations and explore the relationship between cyberbullying dimensions and associated outcomes. This study contributes to the understanding of cyberbullying by providing a comprehensive framework and validated measurement tool.

本研究旨在检验网络欺凌问卷的建构效度和判别效度,并探讨研究结果的实际意义。研究采用探索性因子分析(EFA)和确认性因子分析(CFA)来验证网络欺凌问卷的测量模型。数据分析采用了成熟的统计技术。结果显示,网络欺凌存在六个不同的维度:在线隐私侵犯、在线骚扰和不适、在线排斥和隐私侵犯、干扰和恐吓、身份冒充和秘密传播。该问卷具有良好的建构效度和判别效度,是测量网络欺凌经历的可靠工具。本研究仅限于特定人群和文化背景。还需要进一步研究在不同人群中验证问卷,并探索网络欺凌维度与相关结果之间的关系。本研究提供了一个全面的框架和经过验证的测量工具,有助于加深对网络欺凌的理解。
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引用次数: 0
An empirical analysis of causal nexus between higher education and economic growth in BRICS countries 金砖国家高等教育与经济增长之间因果关系的实证分析
IF 3.5 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-03-26 DOI: 10.1016/j.tncr.2024.200057
Azharuddin Mohammad Mussaiyib, Kailash Chandra Pradhan

This study examines the connection between higher education and economic growth in the BRICS countries. This study used the gross enrolment ratio (GER) to gauge the extent of higher education in the BRICS countries, while gross domestic product (GDP) was used to estimate economic growth. The study includes both time series and panel data analysis for all BRICS countries. The vector error correction model (VECM) and the vector autoregressive model (VAR) were applied to time series data to explain the causal relationship between GDP and GER. Panel data were analyzed using the panel vector auto-regression (PVAR) model. The time series analysis revealed that there is both a bi-directional and a unidirectional causal link between economic development and higher education. However, panel data analysis revealed that the causal influence of higher education was more pronounced than economic growth.

本研究探讨了金砖国家高等教育与经济增长之间的联系。本研究使用毛入学率(GER)来衡量金砖国家的高等教育程度,同时使用国内生产总值(GDP)来估算经济增长。研究包括对所有金砖国家的时间序列和面板数据分析。对时间序列数据采用了向量误差修正模型(VECM)和向量自回归模型(VAR)来解释 GDP 和 GER 之间的因果关系。使用面板向量自回归模型对面板数据进行了分析。时间序列分析表明,经济发展与高等教育之间既存在双向因果关系,也存在单向因果关系。不过,面板数据分析显示,高等教育的因果影响比经济增长更为明显。
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引用次数: 0
Determinants of the competitiveness of world palm oil exports: A cointegration analysis 世界棕榈油出口竞争力的决定因素:协整分析
IF 3.5 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-04-13 DOI: 10.1016/j.tncr.2024.200063
Elkyn Lugo-Arias , José Lugo-Arias , Sandra Bibiana Vargas , Mario Alberto de la Puente Pacheco , Ivonn Borre Granados , Carlos Barraza Heras , Daniel Triana Hernández

The purpose of this research is to determine the impact of international palm oil prices, prices of its substitute and complementary goods, and the exchange rate on the competitiveness of 30 palm oil exporting countries over the period from 2011 to 2019, using monthly data. The symmetric comparative advantage index was estimated, and a convergence effect was found, whereby emerging countries exhibited greater specialization than industrialized countries. Unit root and cointegration tests were applied, in addition to FMOLS and DOLS methods. The analysis revealed that decreases in palm and vegetable oil prices, coupled with an increase in the exchange rate and prices of soybeans and biodiesel, enhanced the competitiveness of palm oil exports.

本研究旨在利用月度数据,确定 2011 年至 2019 年期间国际棕榈油价格、其替代品和互补品价格以及汇率对 30 个棕榈油出口国竞争力的影响。估计了对称比较优势指数,发现了趋同效应,即新兴国家比工业化国家表现出更高的专业化程度。除了 FMOLS 和 DOLS 方法外,还应用了单位根和协整检验。分析表明,棕榈油和植物油价格下降,加上汇率以及大豆和生物柴油价格上涨,增强了棕榈油出口的竞争力。
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引用次数: 0
Looking under the carpet: A granular approach to the unusual productivity growth in Ireland 地毯下的观察从细微处看爱尔兰生产力的异常增长
IF 3.5 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-04-16 DOI: 10.1016/j.tncr.2024.200062
Javier Papa

This paper is aimed to empirically test for an open and small economy like Ireland the “granular hypothesis” (Gabaix, 2011), originally proved for the US, which posits that firm-level productivity shocks can explain a sizable portion of aggregate productivity fluctuations. Additionally, the author tries and tests a second hypotheses suggesting the, given the small size, less diversification of the Irish economy, compared to that of the US, the granular effect is likely to be stronger and more important. The Irish case is particularly relevant as Ireland has been experiencing increasing economic concentration in recent years, to the point that micro shocks to a few selected firms in 2015 led to significant level shifts in aggregate variables like GDP (+34 per cent) and, particularly, labour productivity (+23 per cent) and total factor productivity (−12 per cent). Making use of an original combination of macro data from the Ireland's Central Statistics Office (CSO) and the OECD with micro data from the Annual Business Survey of Economic Impact (ABSEI), both granular hypotheses are tested in Ireland for the period 2000–2016.

Research findings confirm that productivity shocks to the 5 largest firms (in terms of value added) in Ireland account for a large fraction (about one third) of aggregate productivity growth, which is much larger than that found of the US economy. These empirical results shed light on the origins of Irish productivity fluctuations, the consequences of economic concentration on resilience and the importance of diversification policies aimed at broadening Ireland's enterprise base of productive firms.

本文旨在对爱尔兰这样一个开放的小型经济体的 "颗粒假说"(Gabaix,2011年)进行实证检验。"颗粒假说 "最初是针对美国提出的,认为企业层面的生产率冲击可以解释总生产率波动的很大一部分原因。此外,作者还尝试并验证了第二个假设,即与美国相比,爱尔兰经济规模小、多样化程度低,因此颗粒效应可能更强、更重要。爱尔兰的案例尤为重要,因为近年来爱尔兰的经济集中度不断提高,以至于2015年对少数几家选定企业的微观冲击导致了国内生产总值(+34%),尤其是劳动生产率(+23%)和全要素生产率(-12%)等总体变量的显著水平变化。利用爱尔兰中央统计局(CSO)和经合组织(OECD)的宏观数据与经济影响年度商业调查(ABSEI)的微观数据的独创组合,对爱尔兰 2000-2016 年期间的两个细粒度假设进行了检验。研究结果证实,爱尔兰 5 家最大企业(按增加值计算)的生产率冲击占总生产率增长的很大一部分(约三分之一),比美国经济的冲击大得多。这些实证结果揭示了爱尔兰生产率波动的根源、经济集中对复原力的影响以及旨在扩大爱尔兰生产型企业基础的多元化政策的重要性。
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引用次数: 0
Emerging market's consumer intention towards the use of eco-friendly shopping bags in retail stores 新兴市场消费者在零售店使用环保购物袋的意向
IF 3.5 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-04-02 DOI: 10.1016/j.tncr.2024.200050
S. Chatrakamollathas, T. Nuengchamnong

The purpose of this study was to explore variables explaining consumers' intention toward the use of eco-friendly bags in retail stores in an emerging market economy, Thailand. The research was hinged on the Theory of Planned Behavior. The study adopted a survey research design where data was collected using a structured questionnaire on a 5-point Likert scale, with the study sample selected by convenience and purposive sampling methods. The sample population consisted of 609 Thai consumers aged 18 years and above who have shopped in retail stores. Multiple linear regression analysis was applied to analyze the data. The results revealed that environmental attitude, subjective norms, and perceived behavioral control had a positive effect on consumer intention towards the use of eco-friendly shopping bags in retail stores. Whereas subjective norms had the highest effect on consumer intention towards the use of the eco-friendly bag in retail stores. The findings of this study are expected to help the government and private sector to create an appropriate marketing tactics such as using influencers to increase consumer intention towards the use of an eco-friendly bag.

本研究的目的是探讨在新兴市场经济国家泰国的零售商店中,消费者使用环保袋的意向的变量。研究以计划行为理论为基础。研究采用了调查研究设计,通过结构化问卷收集数据,采用 5 点李克特量表,研究样本通过便利抽样和目的抽样方法选出。样本人群包括 609 名 18 岁及以上曾在零售店购物的泰国消费者。研究采用多元线性回归分析法对数据进行分析。结果显示,环境态度、主观规范和感知行为控制对消费者在零售店使用环保购物袋的意向有积极影响。而主观规范对消费者在零售店使用环保购物袋的意向影响最大。本研究的结果有望帮助政府和私营部门制定适当的营销策略,如利用有影响力的人提高消费者对使用环保袋的意向。
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引用次数: 0
Corrigendum to “Doe technological capabilities matter for Moroccan FDI location choice in African countries?” [Transnational Corporations Review 15 (1) (March 2023) 98–110] 更正:"技术能力对摩洛哥在非洲国家的外国直接投资地点选择是否重要?[《跨国公司评论》15 (1) (2023年3月) 98-110]
IF 3.5 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-04-26 DOI: 10.1016/j.tncr.2024.200064
Jihad Ait Soussane, Dalal Mansouri, Zahra Mansouri
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引用次数: 0
Adjustment of supply chain investment by transnational corporations in the Ukrainian crisis and geopolitical risks – Taking the three levels as the analytical framework 乌克兰危机和地缘政治风险下跨国公司供应链投资的调整--以三个层面为分析框架
IF 1.6 Q3 BUSINESS Pub Date : 2024-09-01 Epub Date: 2024-06-27 DOI: 10.1016/j.tncr.2024.200076
Bo Gao , Zhengze Xu

This paper studies how the Ukrainian Crisis and Geopolitical Risk impact the trade and investment of Transnational Corporations (TNCs). This impact includes three levels. The first level is the direct impact of geopolitical risks on TNCs, including TNCs' market response to Russia and the trend of supply chain adjustment. The second level is the impact of geopolitical risks on national governments, including the response of developed countries such as the United States and Europe, as well as emerging economies such as India; countries formulate policies and measures to deal with the challenges of geopolitical risks and further promote national economic and social development, seeking channels and ways to improve the level of national security. The third level is the impact of geopolitical risks on international organizations, especially the WTO.

本文研究乌克兰危机和地缘政治风险如何影响跨国公司(TNCs)的贸易和投资。这种影响包括三个层面。第一个层面是地缘政治风险对跨国公司的直接影响,包括跨国公司对俄罗斯的市场反应和供应链调整趋势。第二个层面是地缘政治风险对各国政府的影响,包括美欧等发达国家以及印度等新兴经济体的应对措施,各国制定政策措施应对地缘政治风险挑战,进一步促进国家经济社会发展,寻求提高国家安全水平的渠道和途径。第三个层面是地缘政治风险对国际组织特别是世贸组织的影响。
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引用次数: 0
期刊
Transnational Corporations Review
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