We investigate the interconnectedness between major cryptocurrencies and foreign exchange rates. This study employs time-series daily data for the cryptocurrencies and foreign exchange rates closing prices, the data is obtained from investing.com and yahoo finance to cover the period of 10 November 2017 to 18 January 2022. The study adopts the connectedness approach developed by Diebold Yilmaz (2014), using the TVP-VAR model to analyze twelve cryptocurrencies and eight foreign exchange rates. The results reveal a greater degree of connectedness across cryptocurrencies and foreign exchange rates over the whole sample, pre and during the corona pandemic, indicating that the Corona pandemic donates to the increase of volatility spillover across the currency and cryptocurrency markets. The results further show that Ethereum, Bitcoin Cash, Litecoin, Bitcoin, TRON, Cardano and Ripple are the main transmitters of shocks to other cryptocurrencies. Moreover, the EUR/USD, AUD/USD and NZD/USD are the main transmitters of shocks to other foreign exchange rates. The study has significant implications for investors, and portfolio managers. Our results offer evidence to improve financial risk assessment, and portfolio hedging strategies of cryptocurrencies against the uncertainty raised by Covid-19 Pandemic, which our findings may support investors in properly rebalancing their portfolios as the level of uncertainty in the market changes.
{"title":"The Dynamic Connectedness between Cryptocurrencies and Foreign Exchange Rates: Evidence by TVP-VAR Approach","authors":"Bashar Yaser Almansour, Md Mohan Uddin, Sabri Elkrghli, Ammar Yaser Almansour","doi":"10.7232/iems.2023.22.3.349","DOIUrl":"https://doi.org/10.7232/iems.2023.22.3.349","url":null,"abstract":"We investigate the interconnectedness between major cryptocurrencies and foreign exchange rates. This study employs time-series daily data for the cryptocurrencies and foreign exchange rates closing prices, the data is obtained from investing.com and yahoo finance to cover the period of 10 November 2017 to 18 January 2022. The study adopts the connectedness approach developed by Diebold Yilmaz (2014), using the TVP-VAR model to analyze twelve cryptocurrencies and eight foreign exchange rates. The results reveal a greater degree of connectedness across cryptocurrencies and foreign exchange rates over the whole sample, pre and during the corona pandemic, indicating that the Corona pandemic donates to the increase of volatility spillover across the currency and cryptocurrency markets. The results further show that Ethereum, Bitcoin Cash, Litecoin, Bitcoin, TRON, Cardano and Ripple are the main transmitters of shocks to other cryptocurrencies. Moreover, the EUR/USD, AUD/USD and NZD/USD are the main transmitters of shocks to other foreign exchange rates. The study has significant implications for investors, and portfolio managers. Our results offer evidence to improve financial risk assessment, and portfolio hedging strategies of cryptocurrencies against the uncertainty raised by Covid-19 Pandemic, which our findings may support investors in properly rebalancing their portfolios as the level of uncertainty in the market changes.","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135040152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-30DOI: 10.7232/iems.2023.22.3.273
Hammood Flayyih Hakeem, Wided Khiari
The current study is based on previous findings, where corporate governance (CG) significantly increased corporate social responsibility (CSR) to enhance transparency while reducing the tendency of corporate management to engage in earnings management (EM). A sample of 11 Iraqi banks listed on the Iraq Stock Exchange from 2010 to 2020 was selected. The CG was included in the board size and board independence apart from the variables of Chief Executive Officer (CEOs) gender, majority shareholder ownership, foreign ownership, and institutional ownership. The CSR included the wage growth rate, bank contribution growth rate for social security, training programmes, subsidies, environmental protection, and bank compliance with the law. Specifically, EM practices were revealed from the sample. As bank management was not involved in CSR activities, the significant interaction role of CG was not discovered in the relationship between CSR and EM. An insignificant relationship between CG mechanisms (CGMs) and EM was also demonstrated. Summarily, CSR and CG structures were substandard among underdeveloped countries.
{"title":"Empirically Measuring the Impact of Corporate Social Responsibility on Earnings Management in Listed Banks of the Iraqi Stock Exchange: The Mediating Role of Corporate Governance","authors":"Hammood Flayyih Hakeem, Wided Khiari","doi":"10.7232/iems.2023.22.3.273","DOIUrl":"https://doi.org/10.7232/iems.2023.22.3.273","url":null,"abstract":"The current study is based on previous findings, where corporate governance (CG) significantly increased corporate social responsibility (CSR) to enhance transparency while reducing the tendency of corporate management to engage in earnings management (EM). A sample of 11 Iraqi banks listed on the Iraq Stock Exchange from 2010 to 2020 was selected. The CG was included in the board size and board independence apart from the variables of Chief Executive Officer (CEOs) gender, majority shareholder ownership, foreign ownership, and institutional ownership. The CSR included the wage growth rate, bank contribution growth rate for social security, training programmes, subsidies, environmental protection, and bank compliance with the law. Specifically, EM practices were revealed from the sample. As bank management was not involved in CSR activities, the significant interaction role of CG was not discovered in the relationship between CSR and EM. An insignificant relationship between CG mechanisms (CGMs) and EM was also demonstrated. Summarily, CSR and CG structures were substandard among underdeveloped countries.","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135040151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1007/978-3-031-21167-6
{"title":"Computational Design and Digital Manufacturing","authors":"","doi":"10.1007/978-3-031-21167-6","DOIUrl":"https://doi.org/10.1007/978-3-031-21167-6","url":null,"abstract":"","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"24 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75946334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-01DOI: 10.1007/978-981-99-0201-9
{"title":"Progress in Sustainable Manufacturing","authors":"","doi":"10.1007/978-981-99-0201-9","DOIUrl":"https://doi.org/10.1007/978-981-99-0201-9","url":null,"abstract":"","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"1 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89772096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-03-20DOI: 10.24200/J65.2020.54496.2054
Majid Khalilzadeh, Hossein Neghabi
In the new competitive world, companies several types of tools and strategies are used to differentiate their products with competitors' product, one of which is promotional. Companies spend a large amount of their promotional budget on advertising. For increase the effectiveness of advertising budgeting, media planning must be properly developed and determine the manner allocation advertising over a company's programming horizon. In this paper, investigates advertising media planning and budgeting for several products. Important aspects including life cycle stage, BCG matrix class, price, competitors’ reaction and budget constraint is considered in our model given uncertainty and with the aim of maximizing profits at the end of the time horizon. We formulate this problem as a stochastic dynamic program and utilized approximate dynamic programming (ADP) algorithm to overcome the huge dimensionality and considerable uncertainties existed in our problem. approximate Dynamic Planning (ADP) is a powerful technique for solving discrete time problems under multistage stochastic control processes. A numerical example was carried out on two products over the course of one year (12 monthly periods) with five different advertising packages. The results showed that 5 million iterations would be suitable to converging. Remaining budget analysis shows the percentage of selective offensive packages in higher budgets for product 2 and the more often selection of such packages in midterms for product 1. The process of the life cycle shows that product 1 does not most likely complete its life stages, but product 2 completes its life cycle stages. Moreover, the BCG matrix confirms the results and product 2 is in the final stages of dogs, while product 1 is more likely in Cash Cows. Also, the total budget was examined in different quantities, which showed that as the amount of the budget increased, the target amount increased slowly. The presented model offers the opportunity to managers by which they are able to compare different media for making advertising decisions for various products in an uncertain environment with different budgets.
{"title":"Multi Product Media Advertising Planning Considering Life Cycle Stage, BCG Matrix Class, Competitors’ Reaction and Budget Constraint using Approximate Dynamic Programming Algorithm","authors":"Majid Khalilzadeh, Hossein Neghabi","doi":"10.24200/J65.2020.54496.2054","DOIUrl":"https://doi.org/10.24200/J65.2020.54496.2054","url":null,"abstract":"In the new competitive world, companies several types of tools and strategies are used to differentiate their products with competitors' product, one of which is promotional. Companies spend a large amount of their promotional budget on advertising. For increase the effectiveness of advertising budgeting, media planning must be properly developed and determine the manner allocation advertising over a company's programming horizon. In this paper, investigates advertising media planning and budgeting for several products. Important aspects including life cycle stage, BCG matrix class, price, competitors’ reaction and budget constraint is considered in our model given uncertainty and with the aim of maximizing profits at the end of the time horizon. We formulate this problem as a stochastic dynamic program and utilized approximate dynamic programming (ADP) algorithm to overcome the huge dimensionality and considerable uncertainties existed in our problem. approximate Dynamic Planning (ADP) is a powerful technique for solving discrete time problems under multistage stochastic control processes. \u0000 A numerical example was carried out on two products over the course of one year (12 monthly periods) with five different advertising packages. The results showed that 5 million iterations would be suitable to converging. Remaining budget analysis shows the percentage of selective offensive packages in higher budgets for product 2 and the more often selection of such packages in midterms for product 1. The process of the life cycle shows that product 1 does not most likely complete its life stages, but product 2 completes its life cycle stages. Moreover, the BCG matrix confirms the results and product 2 is in the final stages of dogs, while product 1 is more likely in Cash Cows. Also, the total budget was examined in different quantities, which showed that as the amount of the budget increased, the target amount increased slowly. The presented model offers the opportunity to managers by which they are able to compare different media for making advertising decisions for various products in an uncertain environment with different budgets.","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"94 1","pages":"0-0"},"PeriodicalIF":0.7,"publicationDate":"2022-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76408356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1007/978-3-030-98036-8
{"title":"Sustainability and Intelligent Management","authors":"","doi":"10.1007/978-3-030-98036-8","DOIUrl":"https://doi.org/10.1007/978-3-030-98036-8","url":null,"abstract":"","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"55 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90883160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1007/978-3-030-91006-8
{"title":"Machine Learning and Artificial Intelligence with Industrial Applications","authors":"","doi":"10.1007/978-3-030-91006-8","DOIUrl":"https://doi.org/10.1007/978-3-030-91006-8","url":null,"abstract":"","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"122 6 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80209110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-01DOI: 10.1007/978-3-030-98048-1
{"title":"Challenges and Trends in Organizational Management and Industry","authors":"","doi":"10.1007/978-3-030-98048-1","DOIUrl":"https://doi.org/10.1007/978-3-030-98048-1","url":null,"abstract":"","PeriodicalId":45245,"journal":{"name":"Industrial Engineering and Management Systems","volume":"10 1","pages":""},"PeriodicalIF":0.7,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90509153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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