Evidence Of Interdependence Research Articles

New evidence of interdependence in forex markets: A connection of connection analysis

Uncovering the complex connections among components is a fundamental approach to understand underlying mechanisms and then guide decision-making in forex markets. Previous works mainly focused on the connections between currency themselves, this work extends this issue by proposing a novel framework to investigate the connections between currency connections. Selecting ten major traded currencies as samples, we examine the correlations and causations among currency connections under short-, medium- and long-term scales. The main results are: (1) the changes in currency correlations are not only correlated but also causally linked with other currency correlations; (2) there exists stronger causal interactions of currency connections in long-term scales compared with short and median scales; (3) In short-term scale, the correlation between EUR and GBP is key currency connection, while the connection between CAD and CNY is the key currency connection in long-term scale. In summary, revealing the connections of connections in forex markets substantially extends existing works, which provides new useful information to market participants.

Supply chain driven herding behavior during COVID-19: evidence of interdependence from India

PurposeThis study aims to test the market anomaly of herding behavior driven by the response to supply chain disruptions in extreme market conditions such as those observed during COVID-19. The authors empirically test the response of the capital market participants for B2B firms, resulting in herding behavior.Design/methodology/approachUsing the event study approach based on the market model, the authors test the impact of supply chain disruptions and resultant herding behavior across six sectors and among different B2B firms. The authors used cumulative average abnormal returns (CAAR) and cross-sectional absolute deviation (CSAD) to examine the significance of herding behavior across sectors.FindingsThe event study results show a significant effect of COVID-19 due to supply chain disruptions across specific sectors. Herding was detected across the automotive and pharmaceutical sectors. The authors also provide evidence of sector-specific disruption impact and herding behavior based on the black swan event and social learning theory.Originality/valueThe authors examine the impact of COVID-19 on herding in the stock market of an emerging economy due to extreme market conditions. This is one of the first studies analyzing lockdown-driven supply chain disruptions and subsequent sector-specific herding behavior. Investors and regulators should take sector-specific responses that are sophisticated during extreme market conditions, such as a pandemic, and update their responses as the situation unfolds.

Application of structural equation modeling in petroleum science and technology research

This work intends to optimize research and development performance processes in the field of oil and gas academia/industry derived from a case study, based on theoretical framework on the principles of structural equation modelling (SEM). We define the basis of the model by six different structural constructs derived from literature and the ir interdependence in the form of hypotheses. The constructs consist of one latent exogenous variable and five latent endogenous variables. Furthermore, five independent operational variables were established with respect to the latent exogenous variable while 20 dependent operational variables were also established with respect to the latent endogenous variables. The evidence of interdependence among the constructs and their respective operational variables were provided by five different hypotheses carried out on the path diagrams. As a result, the interaction between each construct and its variables defines its individual measurement model, which translates into some sets of linear equations. Having obtained the measurement for each construct, the interaction can then be applied to define other sets of linear equations that represent the behaviour of the organisation of the entire process which is expected to yield the proposed research and development programme. The developed model can easily be adopted by interested parties for application on similar projects.

Evidence of Interdependence between Listed Companies of Major Sector in Dhaka Stock Market

This article focuses on the major companies of different sectors that trade on the Dhaka stock market. In the Dhaka stock exchange, different sectors played a significant role. These sectors have a significant influence on the Dhaka stock market index. Previous research mainly focused on the connection between stock markets and GDP, currency rates, commodities, oil, and so on, but did not focus on the connection between companies inside stock markets. Therefore, it is necessary to estimate the correlation between the companies in various sectors. This article explores the volatility and interrelationships between the companies that can be modeled in DCC-GARCH framework. Concurrently, Diebold and Yilmaz's technique was applied to investigate spillover effects and sector-wise company interconnectedness for robustness purposes. From the sample data, it was observed that the pairwise correlation in the companies is positive and significant. The DCC-GARCH model result revealed that there is evidence of volatility and that it exists over a longer period. The empirical findings indicate significant volatility as well as evidence of interdependence among the listed companies. Dhaka Bank, Aftabauto, RENATA, PRIMETEX, and HRTEX are the most commonly identified shock receivers and transmitters. Diebold and Yilmaz's findings are similar to those obtained using the DCC-GARCH method in that there is an indication of strong interdependence and spillover effects. The findings are essential for micro-investors and the policymakers to make further advancements not only important for a single nation but also for other countries.

Profiling ATM regulated genes in Drosophila at physiological condition and after ionizing radiation

BackgroundATM (ataxia-telangiectasia mutated) protein kinase is highly conserved in metazoan, and plays a critical role at DNA damage response, oxidative stress, metabolic stress, immunity, RNA biogenesis etc. Systemic profiling of ATM regulated genes, including protein-coding genes, miRNAs, and long non-coding RNAs, will greatly improve our understanding of ATM functions and its regulation. Results1) differentially expressed protein-coding genes, miRNAs, and long non-coding RNAs in atm mutated flies were identified at physiological condition and after X-ray irradiation. 2) functions of differentially expressed genes in atm mutated flies, regardless of protein-coding genes or non-coding RNAs, are closely related with metabolic process, immune response, DNA damage response or oxidative stress. 3) these phenomena are persistent after irradiation. 4) there is a cross-talk regulation towards miRNAs by ATM, E2f1, and p53 during development and after irradiation. 5) knock-out flies or knock-down flies of most irradiation-induced miRNAs were sensitive to ionizing radiation.ConclusionsWe provide a valuable resource of protein-coding genes, miRNAs, and long non-coding RNAs, for understanding ATM functions and regulations. Our work provides the new evidence of inter-dependence among ATM-E2F1-p53 for the regulation of miRNAs.

Configuring absorptive capacities through organizational practiced routines: evidence from Brazilian digital technology-based SMEs

Absorptive capacity (ACAP) is currently one of the most dynamic themes in the knowledge literature. This is confirmed by the growing number of references associated with the fields of innovation, organizational learning and strategic management. However, despite the efforts of researchers, the main processes, routines and practices associated with the notion of ACAP remain unclear. Underpinned by in-depth case studies carried out in 2 companies operating in the field of digital technology in Brazil, we analyze the processes that structure ACAP, in search of operational configurations allowing the absorption of knowledge. The study builds on the notion of meta-routines as higher-level routines that define the general and abstract purpose of ACAP routines. These meta-routines are expressed by practiced routines of ACAP, which are firm-specific, idiosyncratic and observable. Findings reveal the evidence of interdependencies between these practiced routines, suggesting the existence of complementarity attributes among their related meta-routines. Moreover, the proposed framework highlights the sequence of these practiced routines and their adequacy to ACAP sub-capacities. From a managerial point of view, these results provide new perspectives for building ACAP in organizations. Implications and suggestions for future studies are included.

Reducing unemployment? Examining the interplay between active labour market policies

AbstractActive labour market policies (ALMP) are important tools that welfare states utilize to influence the labour market. This study analyses the macroeconomic effects of different types of ALMP spending on aggregate unemployment rates, and especially if there is evidence of interdependencies between policies. The types of policies scrutinized are public employment services (PES), training programs, public job creation and subsidized employment, where the PES is singled out as a crucial factor that moderates the effects of other types of labour market programs. The study examines 19 welfare states between 1985 and 2013, using error correction modelling to separate between short‐ and long‐term effects. The results indicate that PES, training and subsidized employment reduce unemployment in the short‐run, whereas PES and wage subsidies are associated with reduced unemployment when considering long‐term effects. However, PES is found to have indirect effects on other policy types and increased spending on PES is shown to reinforce long‐term effects of training programs.

Longitudinal Dyadic Interdependence in Psychological Distress Among Latinas With Breast Cancer and Their Informal Caregivers

Abstract Cancer diagnosis and treatment can generate substantial distress for both survivors and their informal caregivers, defined as family members or friends who provide care and assistance to the cancer survivor. The primary aim of this investigation is to test a model of dyadic interdependence in distress experienced by Latina breast cancer survivors and their informal caregivers to determine if each influences the other. Methods: To test this prediction, 209 Latinas with breast cancer and their informal caregivers (dyads) were followed for 4 waves of assessment over the course of 6 months. Both psychological (depression, anxiety, perceived stress) and physical (number of symptoms, symptom distress) indicators of distress were assessed. Longitudinal analyses of dyadic data were performed in accordance with the actor-partner interdependence model using linear mixed effects modeling. Results: Findings indicated that psychological distress was interdependent between cancer survivors and their informal caregivers over the 6 months of observation. Caregivers experienced greater depression, anxiety, and stress to the extent that the survivors reported such distress, and vice versa. These effects held, even when controlling for nature of the survivor-caregiver relationship (married to each other or not), education, and the dyads' baseline similarity on distress. However, there was no such evidence of interdependence on indicators of physical distress. Conclusions: These findings are consistent with emotional contagion processes by which psychological distress is transmitted over time between cancer survivors and their informal caregivers. Latina cancer survivors are a particularly vulnerable population due to health disparities, linguistic barriers, and socioeconomic challenges. Management of psychological distress is of particular concern in this population. These findings point to the potential importance of caregiver well-being for the welfare of Latina breast cancer survivors.

The relationship between social capital and self-rated health: a multilevel analysis based on a poverty alleviation program in the Philippines

BackgroundPoor health is both a cause and consequence of poverty, and there is a growing body of evidence suggesting that social capital is an important factor for improving health in resource-poor settings. International Care Ministries (ICM) is a non-governmental organization in the Philippines that provides a poverty alleviation program called Transform. A core aim of the program is to foster social connectedness and to create a network of support within each community, primarily through consistent community-led small group discussions. The purpose of this research was to investigate the relationship between social capital and self-rated health and how ICM’s Transform program may have facilitated changes in those relationships.MethodsThree types of social capital were explored: bonding-structural, bridging-structural and cognitive. Using cross-sectional data collected before and after Transform, multilevel modelling was used to examine their effects on self-rated health between the two time points.ResultsThe analyses showed that while social capital had minimal effects on self-rated health before Transform, a series of associations were identified after the program. Evidence of interdependence between the different types of social capital was also observed: bonding social capital only had a beneficial effect on self-rated health in the presence of bridging social capital, but we found that there was a 17 percentage point increase in self-rated health when individuals possessed all possible bridging and bonding relationships. At the same time, our estimates showed that maximising all forms of social capital is not necessarily constructive, as the positive effect of cognitive social capital on self-rated health was weaker at higher levels of bridging social capital.ConclusionsThe results from this study has shown that building social capital can influence the way people perceive their own health, which can be facilitated by intervention programs which seek to create bonding and bridging relationships. Transform’s intentional design to learn in community could be relevant to program planners as they develop and evaluate community-based programs, making adaptations as necessary to achieve organisation-specific goals while acknowledging the potential for varied effects when applied in different contexts or circumstances.

Longitudinal dyadic interdependence in psychological distress among Latinas with breast cancer and their caregivers.

Cancer diagnosis and treatment can generate substantial distress for both survivors and their family caregivers. The primary aim of this investigation is to test a model of dyadic interdependence in distress experienced by cancer survivors and their caregivers to determine if each influences the other. To test this prediction, 209 Latinas with breast cancer and their family caregivers (dyads) were followed for 4 waves of assessment over the course of 6 months. Both psychological (depression, anxiety, perceived stress) and physical (number of symptoms, symptom distress) indicators of distress were assessed. Longitudinal analyses of dyadic data were performed in accordance with the actor-partner interdependence model. Findings indicated that psychological distress was interdependent between cancer survivors and their caregivers over the 6 months of observation. However, there was no such evidence of interdependence on indicators of physical distress. These findings are consistent with emotional contagion processes and point to the potential importance of caregiver well-being for the welfare of Latina breast cancer survivors.

Psychometric validation of the Japanese version of Alcohol Quality of Life Scale (AQoLS-Japan) in the treatment of patients with alcohol use disorder

PurposeThe Alcohol Quality of Life Scale (AQoLS) is accepted as a useful measure in assessing impact of alcohol use disorders (AUD) on health-related quality of life (HR-QoL) in Western cultures. We aimed to assess the psychometric properties of the Japanese version of the AQoLS (AQoLS-Japan).MethodsThis was a 3-month, observational cohort study in patients undergoing routine treatment for AUD in Japan. HR-QoL was assessed using the AQoLS-Japan (34 items, 7 dimensions). Scale psychometrics were analyzed using correlative techniques.ResultsData from 132 patients were analyzed. Inter-item and item-scale correlations for the AQoLS-Japan scale were moderate to strong. Confirmatory factor analysis results supported the AQoLS-Japan structure but there was evidence of interdependency among some items and factors. Cronbach’s alpha coefficients for internal consistency ranged from 0.73 to 0.97, and intraclass correlation coefficients for scores between test (baseline) and retest (2 weeks) ranged from 0.65 to 0.82. Convergent and divergent validity and known-groups validity were supported. Evaluation of within-group change demonstrated that the AQoLS-Japan total and domains consistently demonstrated statistically significant improvement (p < 0.001 in all cases) in HR-QoL over time. Estimates for minimal clinically important difference on the AQoLS-Japan total score ranged from 13.2 to 18.2 for group-level change and from 2.4 to 15.7 for a group-level difference.ConclusionsThe AQoLS-Japan is a reliable and valid measure of HR-QoL that is able to demonstrate benefits associated with the routine treatment of AUD in Japan.

Analysing volatility spillover between the oil market and the stock market in oil-importing and oil-exporting countries: Implications on portfolio management

This study analyses the volatility spillover between the oil market and the stock market of oil-importing and oil-exporting countries using daily data over the period from January 2010 to December 2016. The study also explores the portfolio and hedging implications based on dynamic conditional correlation (DCC) and corrected DCC (cDCC) GARCH models. For the analysis, we have used symmetric and asymmetric versions of DCC and cDCC models. Specifically, in the symmetric version of DCC and cDCC, the estimations are based on GARCH (1,1), and in the asymmetric version of DCC and cDDC, the estimations are based on GJR-GARCH (1,1), FIGARCH (1,1) and FIEGARCH (1,1) models, and for each case, we have explored the portfolio and hedging implications. Overall, the evidence indicates that oil-importing countries are severely affected by lagged oil price shocks, and there is less evidence of interdependence between stock markets for both oil-importing and oil-exporting countries. Further, we find that the lagged volatility in the oil market and stock market has a statistically significant impact on the current volatility in its respective markets. The results from the asymmetric analysis show that the magnitudes of the negative shocks are higher than those of the positive shocks. The overall results from portfolio optimization reveal that investors in oil-exporting countries should hold more oil assets in the portfolio to hedge the risk.

Interdependencies and sequential patterns in adoption of dairy technologies in Ethiopia

In this paper adoption of dairy technologies in the Ethiopian highlands was examine using seemingly unrelated multivariate probit model which encompasses the effects of interdependencies of multiple technologies and unobserved heterogeneity in a unified framework. Model estimates show that household's likelihood of adopting dairy technologies is jointly determined by the observed household characteristics as well as unobserved household level and contextual factors. Empirical results show strong evidence of interdependencies in adoption decisions of dairy technologies, largely accounted by omitted variables. Among explanatory variables, while household income is positively associated with adoption of crossbred dairy cows, the size of livestock holdings is negatively associated with adoption of crossbred dairy cows. Overall, the results of this study suggest that the challenge to foster large scale uptake of technologies and productivity growth in the dairy sector goes beyond addressing household-level factors and requires a better understanding of unobserved heterogeneity among farmers and contextual factors. Key words: Dairy, technology adoption, seemingly unrelated multivariate probit, heterogeneity.

Application of operations management modelling towards optimising research and development performance processes in the oil and gas industry: the case of SINOPEC Corp. and NNPC

AbstractThis work intends to optimise research and development performance in the oil and gas industry based on theoretical framework on the principles of structural equation modelling (SEM). We define the bases of the model by six different structural constructs derived from literature and there interdependence in the form of hypotheses. The constructs consist of one latent exogenous variable and five latent endogenous variables. Furthermore, five independent operational variables were established with respect to the latent exogenous variable while 20 dependent operational variables were also established with respect to the latent endogenous variables. The evidence of interdependence among the constructs and their respective operational variables were provided by five different hypotheses carried out on the path diagrams. As a result, the interaction between each construct and its variables defines its individual measurement model, which translates into some sets of linear equations. Having obtained the measurement for each construct, there interaction can then be applied to define other sets of linear equations that represent the behaviour of the organisation of the entire process which is expected to yield the proposed research and development programme. The developed model can easily be adopted by interested parties for application on similar projects.

Comfort and buildings: climate change vulnerability and strategies

Purpose This paper aims to investigate vulnerability factors that influence thermal comfort in residential buildings in the context of climate change and variability, as well as adaptive strategies that can be adopted. There is a need for research that systematically addresses factors influencing thermal comfort in the context of climate change. Design/methodology/approach Using a vulnerability framework, this paper reviews existing literature to identify factors driving impacts to comfort, as well as strategies to increase adaptive capacity in buildings. Data were collected from several sources including international organizations, scientific journals and government authorities, following an initial Web-based subject search using Boolean operators. Findings Significant impacts can be expected in terms of thermal comfort inside buildings depending on four vulnerability factors: location; age and form; construction fabric and occupancy and behaviour. Despite the fact that the majority of the existing studies are technically driven and spatially restricted, there is strong evidence of interdependencies of scales in managing vulnerability and adaptive capacity. Practical implications Results from this review emphasise the importance of balance mitigation with adaptation regarding new building design and when retrofitting old buildings. The factors identified here can also be used to assist in construction of simplified tools such as a vulnerability index that helps in identifying the most vulnerable buildings and dwellings and assist in retrofit decisions. Originality/value The paper offers critical insight regarding implications in building design and policy in a vulnerability framework.

Total quality management and performance management systems: team players or lonely riders?

The paper investigates the joint effects of using total quality management (TQM) and performance management systems (PMSs) on the importance managers place on five different performance perspectives. Our study extends the current knowledge on the simultaneous use of multiple managerial concepts. Contrary to other studies of TQM and PMSs, we take into account that their effects are not independent from the use of other managerial concepts. Controlling for contextual variables and the use of other managerial concepts, we test the effects of joint TQM-PMS use on cross-section data from a sample of 264 companies. We find that the joint use is associated with a decrease in the perceived importance of customer perspective. This implies that only the importance of the customer measures changes for managers because they use TQM and PMS. One possible explanation for this result is that TQM companies over-emphasise the customer perspective which is ‘counter-balanced’ if PMS is jointly used. For other perspectives (employee, operational, return, and financial), we find only weak evidence of interdependencies between TQM and PMSs.

Macroeconomic policy interaction: State dependency and implications for financial stability in UK: A systemic review

AbstractThe association between economic and financial stabilities and influence of macroeconomic policies on the financial sector creates scope of active policy role in financial stability. As a contribution to the existing body of knowledge, this study has analysed the implications of macroeconomic policy interaction/coordination for financial stability, proxied by financial assets, i.e. equity and bonds price oscillation. The critical review and analysis of the existing literature on the subject suggests that there is also ample evidence of interdependence between monetary and fiscal policies and this interrelation necessitates coordination between them for the sake of financial stability. There is also a case for analysing the symmetry of financial markets responses to macroeconomic policy interaction. On methodological and empirical grounds, it is vital to test the robustness of policy recommendations to overcome the limitation of a single empirical approach (Jeffrey–Lindley’s paradox). Hence, the Fr...

The 2010–2014.3 global earthquake rate increase

AbstractIn light of a heightened global earthquake rate during the first quarter of 2014 and recent studies concluding that large earthquakes affect global seismicity for extended periods, we revisit the question whether the temporal distribution of global earthquakes shows clustering beyond that expected from a time‐independent Poisson process. We examine a broad window from 1979 to 2014.3 for M ≥ 7.0 shocks, and a narrow window for M ≥ 5.0 seismicity since 2010 that has higher than average rates. We test whether a Poisson process can be falsified at 95% confidence to assess the degree of dependent clustering in the catalogs. If aftershocks within at least one rupture length from main shocks/foreshocks are filtered, then we find no evidence of global scale M ≥ 5.2–5.6 (depending on parameters) clustering since 2010 that demands a physical explanation. There is evidence for interdependence below this threshold that could be a consequence of catalog completeness or a physical process.

The neurobiology of receptive-expressive language interdependence

With a focus on receptive language, we examine the neurobiological evidence for the interdependence of receptive and expressive language processes. While we agree that there is compelling evidence for such interdependence, we suggest that Pickering & Garrod's (P&G's) account would be enhanced by considering more-specific situations in which their model does, and does not, apply.

The effects of volatility spillover in the US basis swap markets

This paper examines time series properties of the swap spreads in three segments of the US dollar interest rate swaps market. Specifically, the relationship between the swap spreads in US dollar fixed-for-floating Interest Rate Swaps (IRS), Treasury bill versus LIBOR basis swaps and commercial paper versus LIBOR basis swaps are analysed. Tests for evidence of volatility spillover among these segments are conducted. Variations of several models, including VAR/VECM, GARCH (1, 1) EGARCH and GJR-GARCH are used in this study. Evidence of interdependencies and volatility spillover is found between these markets. Using the GJR-GARCH model, it is found that the spillover is asymmetric.