Pub Date : 2023-09-30DOI: 10.1007/s11135-023-01734-4
Nick Pilcher, Martin Cortazzi
Abstract There is considerable literature showing the complexity, connectivity and blurring of 'qualitative' and 'quantitative' methods in research. Yet these concepts are often represented in a binary way as independent dichotomous categories. This is evident in many key textbooks which are used in research methods courses to guide students and newer researchers in their research training. This paper analyses such textbook representations of 'qualitative' and 'quantitative' in 25 key resources published in English (supported by an outline survey of 23 textbooks written in German, Spanish and French). We then compare these with the perceptions, gathered through semi-structured interviews, of university researchers (n = 31) who work in a wide range of arts and science disciplines. The analysis of what the textbooks say compared to what the participants report they do in their practice shows some common features, as might be assumed, but there are significant contrasts and contradictions. The differences tend to align with some other recent literature to underline the complexity and connectivity associated with the terms. We suggest ways in which future research methods courses and newer researchers could question and positively deconstruct such binary representations in order to free up directions for research in practice, so that investigations can use both quantitative or qualitative approaches in more nuanced practices that are appropriate to the specific field and given context of investigations.
{"title":"'Qualitative' and 'quantitative' methods and approaches across subject fields: implications for research values, assumptions, and practices","authors":"Nick Pilcher, Martin Cortazzi","doi":"10.1007/s11135-023-01734-4","DOIUrl":"https://doi.org/10.1007/s11135-023-01734-4","url":null,"abstract":"Abstract There is considerable literature showing the complexity, connectivity and blurring of 'qualitative' and 'quantitative' methods in research. Yet these concepts are often represented in a binary way as independent dichotomous categories. This is evident in many key textbooks which are used in research methods courses to guide students and newer researchers in their research training. This paper analyses such textbook representations of 'qualitative' and 'quantitative' in 25 key resources published in English (supported by an outline survey of 23 textbooks written in German, Spanish and French). We then compare these with the perceptions, gathered through semi-structured interviews, of university researchers (n = 31) who work in a wide range of arts and science disciplines. The analysis of what the textbooks say compared to what the participants report they do in their practice shows some common features, as might be assumed, but there are significant contrasts and contradictions. The differences tend to align with some other recent literature to underline the complexity and connectivity associated with the terms. We suggest ways in which future research methods courses and newer researchers could question and positively deconstruct such binary representations in order to free up directions for research in practice, so that investigations can use both quantitative or qualitative approaches in more nuanced practices that are appropriate to the specific field and given context of investigations.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"10 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":"136342625","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: 10.1007/s11135-023-01747-z
Sakiru Adebola Solarin, Pritish Kumar Sahu
{"title":"The effect of research intensity on total factor productivity in OECD countries during 1890–2018: evidence from a new Poisson pseudo maximum likelihood estimation approach","authors":"Sakiru Adebola Solarin, Pritish Kumar Sahu","doi":"10.1007/s11135-023-01747-z","DOIUrl":"https://doi.org/10.1007/s11135-023-01747-z","url":null,"abstract":"","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"21 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":"136280100","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: 10.1007/s11135-023-01751-3
Pavle Pavlović, Mitja Hafner Fink
Abstract This article was created on the wave of the ubiquitous and already-saturated topic of ethics in the field of artificial intelligence. We were motivated by the proliferation of rules within this field and by a posthumanism critique of this topic. We attempt to nurture a new research platform for a social science analysis of the “ How of ethics” issue by providing an argument for the study of algorithms and ethical issues by expanding the usability of the concept of niche construction and environmental perspectives in ethnographic studies. From a design perspective, this means expanding the quest related to the ethical matter by intensifying the inquiry in a design that includes not just the design process but also a more comprehensive environment. Inspired by current trends in evolutionary anthropology, science studies, and the philosophy of science, we are in line with approaches that reaffirm ethical issues from standpoint theory in the current scientific debate about trust in science. The results of our historical perspective on the issue of value neutrality point out that the position where the tool is not neutral does not mean that it is biased but that it is deeply involved in the network of relationships that influence it to be biased, and that threatens its autonomy. By providing argumentation based on the issue of ethics, we have nurtured the so-called ecology of practice and connoisseurs as a new practice and perspective that ethnography can take on the issue of accountable, ethical, and trustable science.
{"title":"New ethnographic perspective on relational ethics in the field of Artificial intelligence","authors":"Pavle Pavlović, Mitja Hafner Fink","doi":"10.1007/s11135-023-01751-3","DOIUrl":"https://doi.org/10.1007/s11135-023-01751-3","url":null,"abstract":"Abstract This article was created on the wave of the ubiquitous and already-saturated topic of ethics in the field of artificial intelligence. We were motivated by the proliferation of rules within this field and by a posthumanism critique of this topic. We attempt to nurture a new research platform for a social science analysis of the “ How of ethics” issue by providing an argument for the study of algorithms and ethical issues by expanding the usability of the concept of niche construction and environmental perspectives in ethnographic studies. From a design perspective, this means expanding the quest related to the ethical matter by intensifying the inquiry in a design that includes not just the design process but also a more comprehensive environment. Inspired by current trends in evolutionary anthropology, science studies, and the philosophy of science, we are in line with approaches that reaffirm ethical issues from standpoint theory in the current scientific debate about trust in science. The results of our historical perspective on the issue of value neutrality point out that the position where the tool is not neutral does not mean that it is biased but that it is deeply involved in the network of relationships that influence it to be biased, and that threatens its autonomy. By providing argumentation based on the issue of ethics, we have nurtured the so-called ecology of practice and connoisseurs as a new practice and perspective that ethnography can take on the issue of accountable, ethical, and trustable science.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"7 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":"136341484","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 : 2023-09-27DOI: 10.1007/s11135-023-01740-6
Sophia Hatz, Hanne Fjelde, David Randahl
Abstract List experiments encourage survey respondents to report sensitive opinions they may prefer not to reveal. But, studies sometimes find that respondents admit more readily to sensitive opinions when asked directly. Often this over-reporting is viewed as a design failure, attributable to inattentiveness or other nonstrategic error. This paper conducts an exploratory analysis of such a ‘failed’ list experiment measuring vote buying in the 2019 Nigerian presidential election. We take this opportunity to explore our assumptions about vote buying. Although vote buying is illegal and stigmatized in many countries, a significant literature links such exchanges to patron-client networks that are imbued with trust, reciprocity and long-standing benefits, which might create incentives for individuals to claim having been offered to participate in vote buying. Submitting our data to a series of tests of design, we find that over-reporting is strategic: respondents intentionally reveal vote buying and it’s likely that those who reveal vote buying have in fact being offered to participate in vote buying. Considering reasons for over-reporting such as social desirability and network benefits, and the strategic nature of over-reporting, we suggest that “design failure" is not the only possible conclusion from unexpected list experiment results. With this paper we show that our theoretical assumptions about sensitivity bias affect the conclusions we can draw from a list experiment.
{"title":"Could vote buying be socially desirable? Exploratory analyses of a ‘failed’ list experiment","authors":"Sophia Hatz, Hanne Fjelde, David Randahl","doi":"10.1007/s11135-023-01740-6","DOIUrl":"https://doi.org/10.1007/s11135-023-01740-6","url":null,"abstract":"Abstract List experiments encourage survey respondents to report sensitive opinions they may prefer not to reveal. But, studies sometimes find that respondents admit more readily to sensitive opinions when asked directly. Often this over-reporting is viewed as a design failure, attributable to inattentiveness or other nonstrategic error. This paper conducts an exploratory analysis of such a ‘failed’ list experiment measuring vote buying in the 2019 Nigerian presidential election. We take this opportunity to explore our assumptions about vote buying. Although vote buying is illegal and stigmatized in many countries, a significant literature links such exchanges to patron-client networks that are imbued with trust, reciprocity and long-standing benefits, which might create incentives for individuals to claim having been offered to participate in vote buying. Submitting our data to a series of tests of design, we find that over-reporting is strategic: respondents intentionally reveal vote buying and it’s likely that those who reveal vote buying have in fact being offered to participate in vote buying. Considering reasons for over-reporting such as social desirability and network benefits, and the strategic nature of over-reporting, we suggest that “design failure\" is not the only possible conclusion from unexpected list experiment results. With this paper we show that our theoretical assumptions about sensitivity bias affect the conclusions we can draw from a list experiment.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"75 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135536976","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 : 2023-09-26DOI: 10.1007/s11135-023-01750-4
Jaime A. Prudencio-Vázquez, Alvaro Martínez-Rodríguez, Leonardo Pérez-Victorino, José Álvarez-García
Abstract Studies on the spatial patterns of economic activity contribute to economic performance management, planning, and promotion. Investors, policymakers, and social organizations have access to valuable information on the concentration and location of activity. Spatial patterns of tourism have been studied to better organize tourist flows, optimize existing infrastructure, plan new facilities, and promote new destinations. In the late 1960s, the Central Mexican government started projects aimed at constructing large tourism facilities primarily for foreign visitors. These were called centros integralmente planeados or “fully planned centers” (CIP’s) and were headed by Fondo Nacional de Fomento al Turismo (National Tourism Promotion Fund) FONATUR. The objective of this study is to explore the spatial distribution patterns of tourism establishments in five municipalities where CIP?s are located. The study uses exploratory spatial data analysis (ESDA) tools, such as average nearest neighbor index, standard deviation ellipse, spatial kernel density, global and local indicator of spatial autocorrelation, applied to geographic information system (GIS) data representing tourism establishments. The results show changes in establishment distribution and orientation, as well as spatial concentration in all cases and years. All CIP?s experienced a significant reduction in establishments, particularly small and medium-sized businesses. This paper is one of the first to analyze simultaneously the spatial distribution and concentration of tourism establishments in five municipalities where CIP’s are located.
经济活动的空间格局研究有助于经济绩效的管理、规划和促进。投资者、政策制定者和社会组织可以获得有关活动集中度和地点的宝贵信息。研究旅游空间格局，以更好地组织旅游流，优化现有基础设施，规划新的设施，促进新的目的地。在20世纪60年代末，墨西哥中部政府开始了旨在建设主要面向外国游客的大型旅游设施的项目。这些中心被称为“全面规划中心”，由Fondo Nacional de Fomento al Turismo(国家旅游促进基金)FONATUR领导。摘要本研究的目的是探讨五个直辖市旅游机构的空间分布格局。S被定位。本研究采用探索性空间数据分析(ESDA)工具，如平均最近邻指数、标准差椭圆、空间核密度、空间自相关全局和局部指标等，对代表旅游场所的地理信息系统(GIS)数据进行分析。结果表明，在不同的案例和年份中，其机构分布和朝向以及空间集中度都发生了变化。CIP吗?美国的机构，特别是中小型企业大幅减少。本文首次同时分析了CIP所在的5个直辖市旅游设施的空间分布和集中度。
{"title":"Spatial patterns on tourism establishments in five CIP´s in Mexico, 2010–2022","authors":"Jaime A. Prudencio-Vázquez, Alvaro Martínez-Rodríguez, Leonardo Pérez-Victorino, José Álvarez-García","doi":"10.1007/s11135-023-01750-4","DOIUrl":"https://doi.org/10.1007/s11135-023-01750-4","url":null,"abstract":"Abstract Studies on the spatial patterns of economic activity contribute to economic performance management, planning, and promotion. Investors, policymakers, and social organizations have access to valuable information on the concentration and location of activity. Spatial patterns of tourism have been studied to better organize tourist flows, optimize existing infrastructure, plan new facilities, and promote new destinations. In the late 1960s, the Central Mexican government started projects aimed at constructing large tourism facilities primarily for foreign visitors. These were called centros integralmente planeados or “fully planned centers” (CIP’s) and were headed by Fondo Nacional de Fomento al Turismo (National Tourism Promotion Fund) FONATUR. The objective of this study is to explore the spatial distribution patterns of tourism establishments in five municipalities where CIP?s are located. The study uses exploratory spatial data analysis (ESDA) tools, such as average nearest neighbor index, standard deviation ellipse, spatial kernel density, global and local indicator of spatial autocorrelation, applied to geographic information system (GIS) data representing tourism establishments. The results show changes in establishment distribution and orientation, as well as spatial concentration in all cases and years. All CIP?s experienced a significant reduction in establishments, particularly small and medium-sized businesses. This paper is one of the first to analyze simultaneously the spatial distribution and concentration of tourism establishments in five municipalities where CIP’s are located.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134958616","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 : 2023-09-25DOI: 10.1007/s11135-023-01744-2
Eduard Cristobal-Fransi, Natalia Daries, María de la Cruz del Río-Rama, María Guadalupe Fuentes-Tierno
Abstract Internet presence is essential for tourism companies. Health resorts are a tourism resource of prime importance for the image of a wellness tourism destination. This paper analyses the content of the official websites of Spanish spas, as well as their level of maturity in the development of e-commerce. For this purpose, a model for the analysis of websites based on the content analysis technique is proposed, as well as on the extended model of internet commerce adoption (eMICA) methodology. The model was applied to 106 spas with online presence. The results indicate that although spas seem to be prepared to carry out online transactions, a significant share have basic Internet presence, with a mainly informative function.
{"title":"The challenge of digital marketing in health tourism: the case of Spanish health resorts","authors":"Eduard Cristobal-Fransi, Natalia Daries, María de la Cruz del Río-Rama, María Guadalupe Fuentes-Tierno","doi":"10.1007/s11135-023-01744-2","DOIUrl":"https://doi.org/10.1007/s11135-023-01744-2","url":null,"abstract":"Abstract Internet presence is essential for tourism companies. Health resorts are a tourism resource of prime importance for the image of a wellness tourism destination. This paper analyses the content of the official websites of Spanish spas, as well as their level of maturity in the development of e-commerce. For this purpose, a model for the analysis of websites based on the content analysis technique is proposed, as well as on the extended model of internet commerce adoption (eMICA) methodology. The model was applied to 106 spas with online presence. The results indicate that although spas seem to be prepared to carry out online transactions, a significant share have basic Internet presence, with a mainly informative function.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135816208","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 : 2023-09-25DOI: 10.1007/s11135-023-01741-5
Tiago Gonçalves, Carla Curado, Andrea Balle, Joana Mosa
{"title":"Duality of the transactional psychological contract over motivation: a mixed-methods approach","authors":"Tiago Gonçalves, Carla Curado, Andrea Balle, Joana Mosa","doi":"10.1007/s11135-023-01741-5","DOIUrl":"https://doi.org/10.1007/s11135-023-01741-5","url":null,"abstract":"","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135816202","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 : 2023-09-23DOI: 10.1007/s11135-023-01739-z
Manpreet Kaur, Jinesh Jain, Kirti Sood
{"title":"“All are investing in Crypto, I fear of being missed out”: examining the influence of herding, loss aversion, and overconfidence in the cryptocurrency market with the mediating effect of FOMO","authors":"Manpreet Kaur, Jinesh Jain, Kirti Sood","doi":"10.1007/s11135-023-01739-z","DOIUrl":"https://doi.org/10.1007/s11135-023-01739-z","url":null,"abstract":"","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135958369","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 : 2023-09-23DOI: 10.1007/s11135-023-01742-4
Gianpaolo Zammarchi, Andrea Carta, Silvia Columbu, Luca Frigau, Monica Musio
Abstract The spread of the COVID-19 pandemic in 2020 had a huge impact on the life course of all of us. This rapid spread has also caused an increase in the research production in topics related to different aspects of COVID-19. Italy has been one of the first countries to be massively involved in the outbreak of the disease. In this paper, we present an extensive scientometric analysis of the research production both at global (entire literature produced in the first 2 years after the beginning of the pandemic) and local level (COVID-19 literature produced by authors with an Italian affiliation). Our results showed that US and China are the most active countries in terms of number of publications and that the number of collaborations between institutions varies depending on geographical distance. Moreover, we identified the medical-biological as the field with the greatest growth in terms of literature production. As regards the analysis focused on Italy, we have shown that most of the collaborations follow a geographical pattern, both externally (with a preference for European countries) and internally (two clusters of institutions, north versus center-south). Furthermore, we explored the relationship between the number of citations and variables obtained from the data set (e.g. number of authors). Using multiple correspondence analysis and quantile regression we shed light on the role of journal topics and impact factor, the type of article, the field of study and how these elements affect citations.
{"title":"A scientometric analysis of the effect of COVID-19 on the spread of research outputs","authors":"Gianpaolo Zammarchi, Andrea Carta, Silvia Columbu, Luca Frigau, Monica Musio","doi":"10.1007/s11135-023-01742-4","DOIUrl":"https://doi.org/10.1007/s11135-023-01742-4","url":null,"abstract":"Abstract The spread of the COVID-19 pandemic in 2020 had a huge impact on the life course of all of us. This rapid spread has also caused an increase in the research production in topics related to different aspects of COVID-19. Italy has been one of the first countries to be massively involved in the outbreak of the disease. In this paper, we present an extensive scientometric analysis of the research production both at global (entire literature produced in the first 2 years after the beginning of the pandemic) and local level (COVID-19 literature produced by authors with an Italian affiliation). Our results showed that US and China are the most active countries in terms of number of publications and that the number of collaborations between institutions varies depending on geographical distance. Moreover, we identified the medical-biological as the field with the greatest growth in terms of literature production. As regards the analysis focused on Italy, we have shown that most of the collaborations follow a geographical pattern, both externally (with a preference for European countries) and internally (two clusters of institutions, north versus center-south). Furthermore, we explored the relationship between the number of citations and variables obtained from the data set (e.g. number of authors). Using multiple correspondence analysis and quantile regression we shed light on the role of journal topics and impact factor, the type of article, the field of study and how these elements affect citations.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135959836","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 : 2023-09-23DOI: 10.1007/s11135-023-01746-0
Caterina Pastorino, Pierpaolo Uberti
Abstract Despite the growing attention in the last years on the topic of systemic risk, a widely accepted definition of systemic crisis is missing. We use a theoretical scheme to subjectively define a systemic event. This permits the analysis of a financial crisis as a standard binary classification problem, providing an intuitive and useful framework to compare systemic risk measures defined in very different fields. Then we focus the empirical analysis on the comparison of the performance of correlation-based systemic risk measures using the standard tools for the evaluation of binary classifiers as the receiver operating characteristic (ROC) curve and the area under the curve (AUC). We show that the binary classification framework is useful but unable to capture some significant differences among the measures under comparison. The experimental approach, developed on real financial data, is divided in an in-sample exercise, able to evaluate the descriptive power of the different systemic risk measures, and an out-of-sample application to evaluate the capacity of the measures in preventing and predicting systemic events. The forecasting ability of a measure can be fundamental for policy makers and investors respectively to stabilize market fluctuations and to reduce the losses.
{"title":"An empirical comparison of correlation-based systemic risk measures","authors":"Caterina Pastorino, Pierpaolo Uberti","doi":"10.1007/s11135-023-01746-0","DOIUrl":"https://doi.org/10.1007/s11135-023-01746-0","url":null,"abstract":"Abstract Despite the growing attention in the last years on the topic of systemic risk, a widely accepted definition of systemic crisis is missing. We use a theoretical scheme to subjectively define a systemic event. This permits the analysis of a financial crisis as a standard binary classification problem, providing an intuitive and useful framework to compare systemic risk measures defined in very different fields. Then we focus the empirical analysis on the comparison of the performance of correlation-based systemic risk measures using the standard tools for the evaluation of binary classifiers as the receiver operating characteristic (ROC) curve and the area under the curve (AUC). We show that the binary classification framework is useful but unable to capture some significant differences among the measures under comparison. The experimental approach, developed on real financial data, is divided in an in-sample exercise, able to evaluate the descriptive power of the different systemic risk measures, and an out-of-sample application to evaluate the capacity of the measures in preventing and predicting systemic events. The forecasting ability of a measure can be fundamental for policy makers and investors respectively to stabilize market fluctuations and to reduce the losses.","PeriodicalId":49649,"journal":{"name":"Quality & Quantity","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135959265","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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