Editorial introduction

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This paper explores some of the ways in which international central banking can contribute to containing the imminent worldwide climate crisis in a context in which the role of national central banks is important but effectively limited to employing two new stabilization policy tools: macroprudential policy and QE programmes. The authors argue in favour of institutional reform that would gradually transform the IMF into an international central bank and the SDR into a genuine international currency. Even its limited scope would substantially increase the IMF’s capacity to solve one of the key problems of the global climate policy, namely the shortage of funding for the decarbonization of developing economies.
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Climate crisis, central banks and the IMF reform

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In this article the dynamic connectedness between the five agricultural commodities is examined by implementing the Diebold and Yılmaz (VAR based) and Time--Varying Parameter Vector Autoregressions (TVP-VAR) measures for understanding the time-varying variance-covariance mechanism using daily data for the period of 2005 to 2019. The findings reveal that at an overall level all the commodity prices are less susceptible to significant volatility shocks from other commodities specifically before the introduction of the pan-India electronic trading portal (eNAM). Cotton prices do not show any variation due to spillover from others for the entire study period. The volatility spillover is visible post eNAM period particularly for the commodity stock prices. Whereas at an overall level the total directional connectedness has gone down in the post eNAM era. The network analysis suggests that the commodity stock prices show a stronger association as compared to market prices. Generally commodity prices show volatility connectedness but with respect to their own market which means strong spillover is missing among both the markets.
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Department of Food Business Management and Entrepreneurship

Agricultural commodities: An integrated approach to assess the volatility spillover and dynamic connectedness

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This study examines the mediating role of volatility on the relationship between analyst recommendations and herding in the Malaysian stock market by using data from 2010 to 2020. Volatility is measured by realized volatility and the Parkinson estimator. The empirical evidence suggests that herding exists and realized volatility intervenes in the direct relationship between analyst recommendations and herding. The release of analyst recommendations causes realized volatility to fluctuate and investors are triggered by the volatility, which in turn follow the crowd to herd. Nonetheless, the Parkinson estimator is found to be insignificant, which infers that investors have anchor bias and rely on previous day stock prices to trade and herd. This paper provides an alternative explanation to the direct relationship and enhances the study of information-based herding. It contributes to academicians, practitioners, investors and policymakers to understand the herding of investors in responding to the arrival of new information.
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Does volatility mediate the impact of analyst recommendations on herding in Malaysian stock market?

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On the world capital markets, there is a lack of research on how multiple large shareholders (MLS) monitoring of the first largest shareholder affects the catering effect of dividends. To fill this research gap, one should ascertain whether MLS control the first largest shareholder to align pay-outs with investor sentiment for dividends. Therefore, the aim of this article is to assess the integrated MLS impact on the strength of the catering effect of dividends. The study covers Polish electrotechnical companies in 2009–2020 with the use of fixed effects models. The value added is that the paper presents the results of novel research concerning the impact of MLS on dividends. The main findings are: 1) the strongest catering effect is observed when the total number of shares held by MLS is large; 2) the catering effect weakens most when the first largest shareholder is a controlling shareholder and the second largest owner holds relatively many shares.
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The monitoring role of multiple large shareholders and the catering effect of dividends: Evidence from Poland

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The purpose of this study is to evaluate the safety of individuals’ behaviour in the cyber world, especially when using financial services. The article focuses on knowledge of cybersecurity issues, cyber risk awareness and respondents’ self-assessment as potential determinants of individual behaviour. The data obtained from a survey of a representative group of Polish citizens during the second wave of the COVID-19 pandemic was analysed. Ordinal logistic regression and instrumental variable analysis confirm the existence of a positive relationship between knowledge and awareness of cyber risk and safe behaviour in the cyber world. Older generations exhibit safer behaviour which may be linked to their life experience; however, the results do not confirm that experiencing a loss due to cyber risk convinces individuals to use Internet-based solutions in a safer manner. Therefore, educational campaigns should be expanded to include cyber risk issues and tailored to the needs of various users.
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“Every knock is a boost”. Cyber risk behaviour among Poles

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The elimination of all forms of discrimination between the sexes is not only a fundamental human right but it also is very important to support all other areas of development, particularly sustainable development. The aim of this study is to empirically investigate the role of information and communication technologies on employment inequality in Turkey. Therefore, the relationship between ICT applications and female labour force participation is investigated with the auto regressive distributed lag (ARDL) model and impulse response analysis. The results showed that there is no association between information and communication technologies and the female labour force participation rate for the period 1988–2018. These findings may suggest that developing countries also need to have a certain level of development in other areas such as democracy, fundamental rights and freedoms and the rule of law to benefit from the opportunities that information and communication technologies offer to empower the whole society including women.
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Department of Business Administration, Faculty of Economics and Administrative Sciences

Karadeniz Technical University, Central Campus

The relationship between information and communication technologies and female labour force participation in Turkey

AHEAD OF PRINT

Volume 10 (2024): Issue 1 (April 2024)

Volume 9 (2023): Issue 4 (December 2023)

Volume 9 (2023): Issue 3 (October 2023)

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Volume 8 (2022): Issue 3 (October 2022)

Volume 8 (2022): Issue 2 (July 2022)

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Volume 7 (2021): Issue 4 (December 2021)

Volume 7 (2021): Issue 3 (September 2021)

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Volume 7 (2021): Issue 1 (March 2021)

Volume 6 (2020): Issue 4 (December 2020)

Volume 6 (2020): Issue 3 (August 2020)

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Volume 6 (2020): Issue 1 (March 2020)

Volume 5 (2019): Issue 4 (December 2019)

Volume 5 (2019): Issue 3 (September 2019)

Volume 5 (2019): Issue 2 (June 2019)

Volume 5 (2019): Issue 1 (March 2019)

Volume 4 (2018): Issue 4 (November 2018)

Volume 4 (2018): Issue 3 (July 2018)

Volume 4 (2018): Issue 2 (June 2018)

Volume 4 (2018): Issue 1 (April 2018)

Economics and Business Review

The aim of Economics and Business Review is to provide a platform for academicians from all over the world to share, discuss and integrate their research in the fields of economics and finance, including both behavioural economics and finance, with a key interest in topics that are relevant for emerging market economies. The journal welcomes submissions of articles dealing with micro, mezzo and macro issues that are well-founded in modern theories or based on empirical studies and which are valuable for an international readership.   The journal is published in English. Texts are double-blind peer-reviewed by independent specialists from Polish and foreign academic centers. The journal is open for contributions from economists and management specialists both from Poland and abroad.  Economics and Business Review is scored 70 points in the Ministerial List of Journals.  The journal is edited and published in the paper form and also presented on-line.  This journal is the open access and non-profit enterprise.  The journal have no articles processing charges (APCs) nor article submission charges.  Archiving  Sciendo archives the contents of this journal in Portico - digital long-term preservation service of scholarly books, journals and collections.  Plagiarism Policy  The editorial board is participating in a growing community of Similarity Check System's users in order to ensure that the content published is original and trustworthy. Similarity Check is a medium that allows for comprehensive manuscripts screening, aimed to eliminate plagiarism and provide a high standard and quality peer-review process. 