Multiple Regression Research Articles

The Influence of Servant Leadership and Organizational Culture on Employee Performance at ODSK Regional General Hospital in North Sulawesi

This study aims to determine (1) The influence of servant leadership on the performance of employees of the ODSK Regional General Hospital, North Sulawesi Province. (2) To determine the influence of organizational culture on the performance employees of the ODSK Regional General Hospital, North Sulawesi Province. (3) To determine the influence of servant leadership and organizational culture together on the performance of employees of the ODSK Regional General Hospital, North Sulawesi Province. The research method employed is a survey method using questionnaires designed in a Likert scale format. The respondents of the study consisted of 137 employees selected through proportional random sampling. The analysis used to test the research hypotheses includes simple and multiple regression and correlation techniques. The conclusions of this study indicate that (1) Servant Leadership has a positive and significant effect on employee performance. (2) Organizational Culture has a positive and significant effect on employee performance. (3) To determine the joint influence of servant leadership and organizational culture on the performance of employees at ODSK Provincial General Hospital in North Sulawesi. Recommendations: (1) Foster mutually supportive relationships between leaders and employees, as well as among employees, through harmonious interactions. (2) Build an organizational culture that encourages employees to stay and work effectively. (3) Enhance employee performance through servant leadership and organizational culture initiatives implemented simultaneously.

DIGITAL TRANSFORMATION: IS THERE ANY LINK WITH MARKET PERFORMANCE OF PHARMACEUTICAL MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES IN KENYA

The business-operating environment in Kenya and especially in the City County of Nairobi has caused a large number of pharmaceutical Micro, Small, and Medium-Sized Enterprises report profit warnings and thus experience performance issues. Data from the World Bank for the previous two years indicate pharmaceutical MSMEs operating in Kenya have seen a decline in profits and stagnation. The study therefore sought to establish the effect of digital transformation elements, including e-procurement, e-marketing, e-payment, and telemedicine, on the market performance of pharmaceutical Micro, Small, and Medium Enterprises (MSMEs) in Nairobi City County, Kenya. The research examines the limited understanding of how these digital technologies influence market performance, particularly in the pharmaceutical MSME sector. The study employs a cross-sectional descriptive research design, surveying 122 MSMEs from an initial target population of 175, selected through proportionate and simple random sampling. The questionnaire was tested for validity and reliability using Cronbach's alpha with a threshold of 0.7. Quantitative data were analyzed through multiple regression and correlation analysis to determine the strength of the relationships between variables. The results reveal that e-procurement, e-marketing, e-payment, and telemedicine significantly and positively affect market performance. The findings suggest that these digital strategies enhance procurement efficiency, marketing outreach, financial transactions, and healthcare service delivery, ultimately improving the market performance of pharmaceutical MSMEs.

Problem-based learning is helpful in encouraging academic institutions to strive for excellence: perceptions of Sudanese physiologists as an illustration

BackgroundProblem-based learning (PBL) is a well-known teaching method which promotes self-directed learning (SDL) in many medical programs worldwide. This study aimed to examine the perceptions of Sudanese physiologists on applying PBL in teaching their physiology courses or sessions.MethodsA cross-sectional survey was conducted with 82 physiologists (70% of the total Sudanese physiologists). The data were collected using questionnaires that included questions about attitudes towards, effectiveness of, and barriers to PBL implementation. The internal reliability of the questionnaire (over 0.7) was good, as measured by Cronbach’s alpha. The Mann‒Whitney U test, Kruskal–Wallis test, multiple linear regression and correlation (Spearman) analysis were performed to assess various factors associated with physiologists’ perceptions of the research domains.ResultsPhysiologists generally had a positive attitude (overall score percentage of 76.9 ± 23.97%) towards PBL compared to other teaching methods and had good perceptions of the effects of PBL (overall score percentage of 77.1 ± 25.13%) on the student learning process. Furthermore, physiologists had a notable knowledge gap about common challenges affecting PBL application (overall score percentage was 56.93 ± 19.43%) at their relevant institutes. Physiologists’ perceptions of common factors affecting PBL application were significantly related to participants currently working inside or outside Sudan (p value = 0.010) and applying PBL at their relevant institutes (p value = 0.008). In addition, the attitude score was significantly associated with the current workplace (governmental/private) classification (B= -14.083, p = 0.031). Additionally, attitude toward PBL had a significant positive correlation with age (r = 0.233, p = 0.005) and the perception score of PBL’s effects on students’ learning processes (r = 0.788, p < 0.001).ConclusionIn general, physiologists have good attitudes towards and perceptions of PBL’s effectiveness, although they are unaware of the main challenges that PBL faces. The findings of this study can help the Federal Ministry of Higher Education make informed decisions about how to improve teaching methodology by implementing such novel approaches.

CovSTATIS: A multi-table technique for network neuroscience

Similarity analyses between multiple correlation or covariance tables constitute the cornerstone of network neuroscience. Here, we introduce covSTATIS, a versatile, linear, unsupervised multi-table method designed to identify structured patterns in multi-table data, and allow for the simultaneous extraction and interpretation of both individual and group-level features. With covSTATIS, multiple similarity tables can now be easily integrated, without requiring a priori data simplification, complex black-box implementations, user-dependent specifications, or supervised frameworks. Applications of covSTATIS, a tutorial with Open Data and source code are provided. CovSTATIS offers a promising avenue for advancing the theoretical and analytic landscape of network neuroscience.

Changes in starch properties during malting and their correlations with the malting quality of multiple barley cultivars

AbstractBackground and ObjectiveThere is still a lack of information about detailed dynamic changes in starch properties during malting among multiple barley varieties and correlations of starch properties with malting qualities. In this work, compositional, physicochemical, morphological, and structural properties of starches from four barley varieties at six time points across the malting process were first investigated to better understand the starch modification of barley malting. Furthermore, a total of 30 barley varieties were used to investigate the relationship between malting qualities and starch properties. The results provide a reference for breeding high‐malting quality barley based on starch properties.FindingsSignificant decreases in starch contents, paste viscosities, relative crystallinity, as well as the ratio of 1045/1022 cm−1 of starch, were exhibited, while comparatively small changes were found in the thermal parameters during malting. Amylose and amylopectin polymers were both hydrolyzed in malting. After malting, pits and holes were discovered on the surface of some starch granules. Four parameters of peak viscosity (PV), breakdown, peak time (PeT), and pasting temperature (PT) had significant correlations with diastatic power (DP), while the above four indicators together with amylose content, total starch content, onset temperature, peak temperature, and swelling power had significant correlations with malt extract (ME).ConclusionsThe trend of changes in starch properties among all four genotypes was similar. However, the variety with better malting quality showed a greater degree of measurements in some starch characters. Starch properties are mainly related to the two malting quality indicators of DP and ME.Significance and NoveltyPV, breakdown, PeT, and PT had significant correlations with malting qualities.

Impact of N+ Ion Irradiation on the Electrochemical Behavior of ZnO Thin Film Electrode-Electrolyte Interfaces.

Defect engineering serves as a crucial technique for enhancing the performance of advanced next-generation devices. Ion beam irradiation stands out as a highly promising method for introducing defects in a controlled manner. This study investigates the impact of nitrogen ion (N+) irradiation-induced defects on the electrochemical behavior of ZnO thin-film electrode-electrolyte interface. The oxygen vacancy defects were introduced and tuned by varying the fluence of ion irradiation. The increased Urbach energy in the irradiated samples confirms the enhanced disorder. Photoluminescence data show the emergence of new defect states upon irradiation. The behavior of the ZnO thin-film electrode-electrolyte interface was studied using cyclic voltammetry and electrochemical impedance spectroscopy. At a fixed scan rate, the enhanced peak current was observed in cyclic voltammetry in N+ Irradiated electrodes. Furthermore, reduced charge transfer resistance was observed in the case of irradiated electrodes. To unravel the underlying mechanism, we analyze the AC conductivity, which shows varying dependency on the frequency. It shows the existence of multiple ion-ion correlations in irradiated electrodes. Furthermore, the AC conductivity in the entire frequency region is enhanced significantly. Dielectric permittivity spectra suggest low-frequency dipole interactions and increased dielectric losses after irradiation, indicating non-Debye type relaxation processes. Understanding irradiation-induced changes will help engineer thin film electrodes for batteries, supercapacitors, and other electrochemical applications.

Youth of econometrics: Keynesians contra Keynes

The history of economic thought knows a few of heated methodological controversies (Methodenstreit), the most famous of which was a “battle” at the end of the 19th century between Austrian and New historical schools on proper methods of social sciences. Later at the turn of the 1930—1940s a dispute arose between J. M. Keynes, on the one hand, and Keynesians (J. Tinbergen, O. Lange, J. Marshak, etc.), on the other hand, who radically diverged in assessing prospects of a new subdiscipline — econometrics. In the literature, this episode is known as the “Keynes—Tinbergen debate”, since the discussion was centered on the study by J. Tinbergen “Statistical testing of business cycle theories” (1939), where one of the first large econometric models was offered, the parameters of which were estimated using the method of multiple correlation. Keynes sharply criticized Tinbergen’s approach (and more broadly, the whole econometrics). For a long time, Keynesians unequivocally recognized Keynes as the losing party, whom they accused of technical incompetence. However, the subsequent development of econometrics turned out to be largely focused precisely on the problems raised by Keynes.

Cybersecurity Practices and International Relations Performance in Rwanda. A Case of Broadband Systems Corporation

Purpose: The general objective of the research was to assess the effect of cybersecurity practices on international relations performance in Rwanda, a case of Broadband Systems Corporation. Specifically, the study determined the effect of cybersecurity policies on the international relations performance in Rwanda, to find out the effect of cybersecurity technology on the international relations performance in Rwanda and to assess the effect of cybersecurity training on the international relations performance in Rwanda. Methodology: Descriptive, correlational, qualitative and quantitative based on primary and secondary data were used in the study. This research aimed to gather data from 229 employees, stakeholders of Broadband Systems Corporation, including company officials, cybersecurity staff and beneficiaries. Using Slovin's approach, the researcher determined the number of participants needed for the sample. Researcher had 146 participants in their sample, out of a total population of 229. The researcher used questionnaires question to gather primary data. The researcher analyzed the data using SPSS (Statistical Package for Social Scientists, version 25) to grasp statistics such as percentage, mean, standard deviation, and frequency. Bivariate correlation analysis was performed to investigate the hypotheses. Findings: The model demonstrates a multiple correlation coefficient (R) of 0.877, signifying a robust positive correlation among cybersecurity policies, cybersecurity technology, and cybersecurity training with the dependent variable, international relations performance in Rwanda. Analysis of Variance results for the regression analysis shows the F-value is 141.583, which indicates a highly significant model fit. The significance level (Sig.) is .000, demonstrating that the predictors cybersecurity technology, cybersecurity policies, and cybersecurity training significantly contribute to explaining variations in international relations performance. Unique Contribution to Theory, Practice and Policy: BSC should implement continuous cybersecurity awareness training to help employees recognize and respond to common cyber threats.

Servant Leadership dan Komitmen Organisasi Terhadap Kinerja Karyawan: Studi pada Karyawan CV. Cisarua Cianjur

The company always expects employees to always perform in carrying out their duties and responsibilities to solve problems and prove the hypothesis by collecting data through interviews and questionnaires. The questionnaire was given to 42 respondents, to be further analyzed using multiple linear regression, multiple correlation, F Test and T - Test. Based on the results of calculations using the IBM SPSS Statistics Version 24 program, the results obtained servant leadership has a positive and significant effect on employee performance at CV. Cisarua Cianjur. This means that the better the implementation of servant leadership, the higher the employee performance at CV. Cisarua Cianjur. Organizational commitment has a positive and significant effect on employee performance at CV. Cisarua Cianjur. This means that the more organizational commitment from employees increases, the higher the employee performance at CV. Cisarua Cianjur. Servant leadership and organizational commitment have a positive and significant effect on employee performance at CV. Cisarua Cianjur. This means that the better the implementation of servant leadership and the more organizational commitment from employees increases, the more employee performance at CV. Cisarua Cianjur.

Analisis Likuiditas, Tax Avoidance, Pertumbuhan Penjualan dan Pertumbuhan Laba Terhadap Nilai Perusahaan: Studi Keuangan pada Perusahaan Subsektor Tekstil dan Garmen yang Terdaftar di Bursa Efek Indonesia Tahun 2022

The aim of this research is to find out how the influence of Liquidity, Tax Avoidance, Sales Growth and Profit Growth on Company Value is described. The population in this research is textile and garment sub-sector companies listed on the Indonesia Stock Exchange for the 2022 period. The method used is a quantitative method with an associative descriptive approach. With a total sample of 19 with saturated sampling. Using secondary data collection techniques and descriptive statistical analysis, classic assumption tests with normality test, multicollinearity test, heteroscedasticity test, coefficient of determination, multiple correlation coefficient, multiple linear regression test, partial test (t) and simultaneous test (f). The statistical results of the f test (Simultaneous Test) show that there is a simultaneous and significant influence of the variables Liquidity, Tax Avoidance, Sales Growth, Profit Growth on Company Value. Based on the statistical results of the t test (partial test), liquidity has a negative and significant effect on Company Value. Meanwhile, Tax Avoidance has a positive and insignificant effect on Company Value. Furthermore, Sales Growth has a positive and significant effect on Company Value. And Profit Growth has a negative and insignificant effect on Company Value.

Pengaruh Kecukupan Modal, Risiko Kredit, Risiko Likuiditas dan Pengelolaan Aset Produktif Terhadap Profitabilitas : Studi Keuangan pada Bank Umum Swasta Nasional yang Terdaftar di Bursa Efek Indonesia Periode 2019-2022

A bank's profitability is an important indicator of its financial health and future aspirations. Increasing profitability requires effective, efficient management and building public trust. The aim of this research is to determine the effect of Capital Adequacy Ratio, Non Performing Loans, Loan to Deposit Ratio, and Net Interest Margin on Returns on Assets for the period 2019 to 2022. The population in this research is financial reports on the Indonesia Stock Exchange (BEI). The objects of this research are Capital Adequacy Ratio (X1), Non Performing Loans (X2), Loan to Deposit Ratio (X3), Net Interest Margin (X4) and Return On Assets (Y). The research method used is descriptive and associative with a quantitative approach. The data analysis techniques used in this research are statistical and descriptive. Which uses a number of tests such as the classic assumption test which consists of normality test, multicollinearity, heteroscedasticity, multiple linear regression analysis, multiple correlation coefficient, coefficient of determination, hypothesis test (t test) and (f) test using the SPSS application. The research results show that from the t test (partial) the Capital Adequacy Ratio partially shows a result of 0.019 where tcount is 0.019&lt;ttable 2.021 with a significance value of 0.019, next for Non Performing Loans shows Tcount&lt;Ttable (0.145&lt;2.021) with a significance value of 0.145, then for Loan to Deposit Ratio shows a Tcount of 0.035&lt;Ttable 2.021 with a significance value of 0.035 and Net Interest Margin shows a Tcount of 0.001&lt;Ttable 2.021 with a significance value of 0.001. The conclusion is that CAR, NPL, LDR partially have no influence on Return On Assets, while NIM partially has an influence on profitability.

Pengaruh Kredit Macet, Tingkat Efisiensi dan Likuiditas Terhadap Profitabilitas: Studi pada Perbankan Umum Konvensional yang Terdaftar di Bursa Efek Indonesia Periode 2020-2022

The purpose of this study was to determine how the influence of Bad Debt, Efficiency Level and Liquidity on Profitability both partially and simultaneously. The data used in this study are secondary data in the form of financial statement data on conventional public banking companies listed on the Indonesia Stock Exchange for the period 2020-2022. The research methods used are descriptive and associative methods with a quantitative approach. The sampling technique used in this study used a non-probability sampling approach with purposive sampling method. The data analysis techniques used are multiple correlation coefficient test, coefficient of determination, multiple linear regression test, partial test (t test) and simultaneous test (f test). Based on the results of the study, it shows that from the partial test (t test) Bad Credit (NPL) shows a result of 0.294 where tcount 1.065 &lt; t table 2.024 with a significance value of 0.294, then the Efficiency Level shows a result of 0.000 where tcount 22.440 &lt; t table 2.024 with a significance value of 0. 000, then Liquidity shows a result of 0.002 where tcount 3.396 &lt; ttable 2.024 with a significance value of 0.002. the conclusion is that Bad Debt partially has no effect on Profitability while the Efficiency Level, Liquidity partially has an effect on Profitability.

Analisis Komitmen Organisasi dan Kompensasi Terhadap Produktivitas Kerja : Survei pada PT Ideal Sarana Cahaya Sukabumi

The aim of this research is to determine organizational commitment and compensation on the work productivity of PT employees. Ideal Sukabumi Light Facility. This research uses associative descriptive research methods with a quantitative approach. The sampling technique uses a saturated sampling technique, namely the entire population is sampled, so that there are 74 PT employees. Ideal Sarana Cahaya Sukabumi was used as a respondent. The data analysis techniques used are validity, reliability, then classical assumption tests, multiple correlation coefficients, correlation coefficients of determination, multiple linear regression, and hypothesis testing consisting of simultaneous hypothesis testing (F test) and partial hypothesis testing (T test). The results of this research are, the F test shows that organizational commitment and compensation together have a significant effect on work productivity with an F value of 18,948 &gt; F table 3,126. Then, the T test results of organizational commitment on work productivity with a calculated T value of 2,269 &gt; T table 1,993 show that organizational commitment has an effect on work productivity, and the results of the compensation T test on work productivity with a calculated T value of 3,309 &gt; T table 1,993 show that there is an influence from compensation to work productivity

Analisis Non Performing Loan, Biaya Operasional Pendapatan Operasional, dan Free Cash Flow Terhadap Nilai Perusahaan

The research was aimed at determining the influence of Non Performing Loan, operating expenses to operating income, and free cash flow on firm value conducted in the banking sektor listed on the Indonesian Stock Exchange periode 2018-2022. The object of the research were Non Performing Loan (X1), Operating Expenses to Operating Income (X3), free cash flow (X3), and Firm Value (Y). the research used descriptive and associative methods with quantitative approach. The technique of sampling deployed in the research was non probability sampling approach, namely the purposive sampling technique. The techniques of analysing data applied were test of coefficient of multiple correlation and coefficient of determination, multiple linear regression test, partial test (t-test), and simultaneous test (f test). Based on the result of the research show that there is a relationship of Non Performing Loan, operating expenses to operating income, and free cash flow toward firm value which is aggregated to 0,659, indicating that the relationship of Non Performing Loan, operating expenses to operating income, and free cash flow toward firm value is included to a strong relationship criteria. Moreover, the result of partial test show that Non Performing Loan negative and significant influence toward firm value, operating expenses to operating income negative and significant influence toward firm value, and free cash flow has positive and insignificant influence toward firm value.

Analisis Harga Emas, Ukuran Perusahaan dan Profitabilitas Terhadap Pembiayaan Gadai Emas: Studi Empiris pada PT Bank Syariah Indonesia Tbk KCP Sukabumi Cicurug Setia Budi Periode 2021-2023

The purpose of this study was to determine how much influence the Gold Price, Company Size, and Profitability have on Gold Pawn Financing at PT Bank Syariah Indonesia Tbk, KCP Sukabumi Cicurug Setia Budi for the period 2021-2023. The objects of research are Gold Price (X1), Company Size (X2) Profitability (X3) and Gold Pawn Financing (Y). The research uses descriptive and associative methods with a quantitative approach. The population in the study was the financial statements of PT Bank Syariah Indonesia Tbk, KCP Sukabumi Cicurug Setia Budi. Data analysis techniques used are classical assumption test, multiple linear regression analysis, multiple correlation coefficient, coefficient of determination, partial test (t test) and simultaneous test (f test). The results showed a relationship between Gold Price, Company Size, Profitability on Gold Pawn Financing of 0.766 the level of relationship including strong relationship criteria. Then the results of the partial test show that the price of gold has a positive and significant effect on gold pawn financing, company size has a negative and significant effect on gold pawn financing, profitability has a negative and significant effect on gold pawn financing.

The Length of Xiphoid to Fundus as a Measure of Labor Progress: A Cross-sectional Study

Background: Vaginal examination is widely recognized as the most common method for monitoring labor progress. However, researchers are currently exploring alternative methods, which are potentially less invasive or aggressive, to assess labor progress. Objective: This study aimed to assess the correlation between the length of the xiphoid to the fundus and the cervical dilation in the active phase of labor. Methods: This cross-sectional study was conducted on 180 pregnant women in Varamin, Iran. The participants were recruited using convenience sampling. Data were collected using a researcher- made questionnaire that included specific items regarding demographic characteristics, health status, and a checklist to record the results of examinations and labor progress. The collected data were analyzed using descriptive statistics, correlation tests, and multiple linear regression with SPSS 22 software. The significance level was considered to be p &lt;0.05. Results: A total of 174 eligible women participated in the study, with a mean age of 25.90 ± 4.56 years (mean±SD) and a mean gestational age of 39.71 ± 1.03 weeks. There was a significant negative correlation between the length of the xiphoid to the fundus and cervical dilatation (p = 0.0001, r = -0.568). Conclusions: The study revealed a significant negative correlation between the length of the xiphoid to the fundus and the cervical dilation. Therefore, the xiphoid to fundus measurement can serve as an alternative and complementary examination in cases that need frequent vaginal examinations.

Proposition of In silico Pharmacophore Models for Malaria: A Review.

In the field of medicinal chemistry, the concept of pharmacophore refers to the specific region of a molecule that possesses essential structural and chemical characteristics for binding to a receptor and eliciting biological activity. Understanding the pharmacophore is crucial for drug research and development, as it allows the design of new drugs. Malaria, a widespread disease, is commonly treated with chloroquine and artemisinin, but the emergence of parasite resistance limits their effectiveness. This study aims to explore computer simulations to discover a specific pharmacophore for Malaria, providing new alternatives for its treatment. A literature review was conducted, encompassing articles proposing a pharmacophore for Malaria, gathered from the "Web of Science" database, with a focus on recent publications to ensure up-to-date analysis. The selected articles employed diverse methods, including ligand-based and structurebased approaches, integrating molecular structure and biological activity data to yield comprehensive analyses. Affinity evaluation between the proposed pharmacophore and the target receptor involved calculating free energy to quantify their interaction. Multiple linear regression was commonly utilized, though it is sensitive to multicollinearity issues. Another recurrent methodology was the use of the Schrödinger package, employing tools such as the Phase module and the OPLS force field for interaction analysis. Pharmacophore model proposition allows threedimensional representations guiding the synthesis and design of new biologically active compounds, offering a promising avenue for discovering therapeutic agents to combat Malaria.

Factors related to preoperative anxiety in older patients with sensory impairment: A cross-sectional study.

To identify the factors related to preoperative anxiety in older adults with sensory impairment. Descriptive quantitative research design. Study participants were 120 older adults admitted to a tertiary hospital in Seoul, South Korea to undergo eye or ear surgery. Data were collected from 11 February to 30 April 2023. The collected data were analysed using descriptive statistics, t-tests, ANOVA, and multiple regression analysis using SPSS 28.0. The study was reported following the STROBE checklist. Preoperative anxiety differed significantly according to gender (p = .002), average monthly household income (p < .001), subjective health status (p = .003), subjective vision loss (p = .004), one-sided or both-sided eye discomfort (p = .002), use of glasses (p = .010), subjective hearing loss (p = .022) and anxiety coping mechanisms (p < .001). The results of a multiple regression analysis on the significant variables identified that gender (β = .178, p = .036) and anxiety coping mechanisms (β = .336, p < .001) had the most significant effect on preoperative anxiety, with an explanatory power of 34.5%. The development and practical application of tailored nursing interventions catering to specific genders and anxiety coping mechanisms would contribute to reducing preoperative anxiety and providing efficient nursing care for older adults with sensory impairment.

Fear, extreme fear and U.S. stock market returns

This paper investigates the multiscale co-movement between the levels and changes in VIX and SKEW indices and the returns of the S&P 500 market indices at the aggregate and sector levels of data. By utilizing the wavelet localized multiple correlation (WLMC) method over the most recent time period (January 3, 2006 - October 26, 2023), we demonstrate that very short-term market participants, such as traders and speculators, are watchful about the combined information from the VIX and SKEW levels; while the changes in VIX and SKEW are more informative for stock returns in the medium- to long-term, which should concern the decisions of investors and portfolio managers. We also show that VIX in general exerts a more dominant influence on the S&P 500 Index returns than SKEW, but more for VIX changes than for VIX levels. The very short-run informativeness of VIX and SKEW for stock returns is markedly pronounced around the European debt crisis (2012) and the COVID-19 meltdown (2020). The stock sector analysis reveals that defensive sectors are sensitive to the SKEW index, whereas the cyclical sectors are predominantly related to the fluctuations in the VIX index. Overall, our findings provide useful new insights into the stock market sentiment and the resulting market participants’ behavior at the market microstructure level. As such, they may be of interest not only to traders and investors, but also to financial analysts and government policy-makers in their attempts to understand the multiscale relationship between monetary policy and the stock market.

Nexus among Economic Uncertainty, Geopolitical Risk, Oil Price Volatility and Economic Complexity in Saudi Arabia: Fresh Insights from Wavelet Local Multiple Correlations

Enhancing future economic growth through higher economic complexity is vital for sustainable growth strategies. Even though most studies are concerned with the key factors governing the economic complexity process, there needs to be more studies about the impact of risk factors on economic sophistication evolvement, particularly for oil-rentier economies. The present paper intends to delve into the dynamic connectedness between some risk factors, such as economic, political, and geopolitical risks and oil price volatility and the progress of economic complexity. We utilized quarterly data (1995Q1-2021Q4) for Saudi Arabia as a heavy oil-rich economy. As the first study to delve into the short-long term connections at various time scales and frequencies within a multivariable setting, we contribute to the literature by offering a spotless picture of economic complexity risk factors. In doing so, we resort to a novel wavelet local multiple correlation method, which can explore the varying patterns of time periods in the interconnections between the variables. Our findings disclose that oil volatility, geopolitical risk, and global uncertainties are positively connected to economic complexity over the long run. In contrast, their short-term effect is weak and mostly insignificant. These results indicate the resiliency of the Saudi economy to external to oil volatility shocks and intensification of global and local uncertainties. These outcomes offer policymakers new insights and prominent policy recommendations when designing economic strategies to achieve higher economic sophistication and sustainable growth.