/library/oar/handle/123456789/56947 Tue, 23 Dec 2025 03:38:29 GMT 2025-12-23T03:38:29Z /library/oar/handle/123456789/57973 Title: Housing and stock market nexus in the US Authors: Lin, Feng-Li; Wang, Mei-Chih; Kung, Hsien-Hung Abstract: Purpose: The research aims to study the causality between the US stock and housing markets in the period from 1890 to 2014. Design/Methodology/Approach: The Granger-Causality bootstrap rolling-window test is used for studying the causality between the stock as well as real estate markets in the US. Findings: The results provide robust evidence that the causality running from the housing in the stock markets has positive effects between 1918 and 1922, 1926 and 1931, 1953 and 1955 but negative effects between 1932 and 1934 and from 1971 to 1972, displaying the occurrence of a credit-price effect. In contrast, the S&P 500 stomped the housing market between 1965 and 1970, when the wealth effect dominated in the US economy. Specifically, when the negative causality of both markets happens, investors gain by allocating housing and stocks assets as various portfolios. Practical Implications: This finding specifies that housing markets may be employed to predict stock markets and vice versa in the US. Studying both markets’ causality offers policymakers and practitioners more situation on where the market may be going and how it works over time. Originality/Value: Original research. Wed, 01 Jan 2020 00:00:00 GMT /library/oar/handle/123456789/57973 2020-01-01T00:00:00Z /library/oar/handle/123456789/57972 Title: Institutions in the context of implementing the CSR concept and social trust Authors: Wolska, Grayna; Bak, Iwona; Oesterreich, Maciej; Hawlena, Joanna Abstract: Purpose: The purpose of considerations undertaken in this paper is to emphasize the importance of public trust in institutions and to draw attention to the important (but often marginalized) relationship between institutions and the implementation of the CSR concept. Approach/Methodology/Design: The following research methods will be used in the article: wide range review of literature sources, descriptive method and selected methods of descriptive statistics (taxonomic measure of development and measures of correlation). Findings: The presented analysis shows that the perception of benefits associated with integration with the EU is not conditioned by trust in it as an institution. Importantly, trust in the EU is not affected by respondents’ perception of national and regional centers of power. Practical Implications: Changes in economies that took place recently caused the need for an interdisciplinary approach to economic research and a new definition of economics as a research field. They also make it necessary to recognize and identify social, economic, technical and cultural issues. The subject matter discussed in the paper refers to issues related to social initiatives such as the concept of corporate social responsibility (CSR) and the importance of institutions in the effective implementation of the CSR idea. The analyzed issues are considered in the cultural and institutional cognitive perspective. Originality/Value: The article raises an important social problem of public trust in institutions and the impact of institutions on the speed of dissemination of the concept of corporate social responsibility. Wed, 01 Jan 2020 00:00:00 GMT /library/oar/handle/123456789/57972 2020-01-01T00:00:00Z /library/oar/handle/123456789/57968 Title: Energy consumption versus greenhouse gas emissions in EU Authors: Ossowska, Luiza; Janiszewska, Dorota; Bartkowiak-Bakun, Natalia; Kwiatkowski, Grzegorz Abstract: Purpose: The article aims to trace out the interplay of the share of individual energy sources in the total consumption and greenhouse gas emissions from the European Union countries. Approach/Methodology/Design: By taking into account the share of individual energy sources in consumption in 2015, the EU countries were divided into 5 clusters. For each cluster, the values of the indicators for 2005 were determined to assess the changes. Additionally, energy dependence and greenhouse gas emissions factors were included. Findings: During the 2005-2015 period, the consumption of renewable energy increased, while the carbon dioxide emissions felt. It is difficult to say unequivocally whether limiting CO2 emissions through increased renewable energy sources consumption can be considered sufficient. It should also be pointed out that there was no clear link between the increase in the share of renewable energy sources and the decrease in energy dependence in EU countries. Practical Implications: The study directly refer to ongoing political debate on CO2 emissions at both the community and national levels in EU countries. Originality/Value: The study offers the first of its kind examination of the the interplay of the share of individual energy sources in the total consumption and greenhouse gas emissions from the European Union countries. Wed, 01 Jan 2020 00:00:00 GMT /library/oar/handle/123456789/57968 2020-01-01T00:00:00Z /library/oar/handle/123456789/57942 Title: Corporate governance, ownership structure and dividend smoothing : the mediating role of family ownership and board diversity in emerging markets Authors: Ahmed, Shakeel; Zulfiqar Ali Shah, Syed; Ali Bhatti, Arshad Abstract: Purpose: The study attempts to explore the determinants of dividend smoothing behavior of firms by using firm’s specific characteristics, corporate governance and ownership structure variables as determinants of dividend smoothing in emerging markets due to their unique features from Western markets. The current study is undertaken to fill this gap in the literature. Design/methodology/approach: In order to achieve the research objectives penal data (2009-2018) of more than 1000 Asian firms were analyzed by using Statistical techniques such as pool, fixed and random models. Findings: Based on gender critical mass theory, the study finds that the presence of gender critical mass is positive and significantly associated with firm dividend smoothing behavior; whereas, presence of fewer women depicts negative or insignificant association with dividend smoothing behavior. Importantly, the study also finds moderating role of gender diversity between family ownership and firm’s dividend smoothing behavior. Furthermore, contrary to the agency theory based on explanations of dividend smoothing, firms with family ownership smooth dividend more in emerging markets. Practical implications: This paper helps out to the current as well as future potential investors to make better decision in such a changing economy as well as to help investors in selecting better investment opportunity to make their investment more profitable. Originality/value: The current study is the first of its kind to investigate dividend-smoothing behavior for more than 1000 firms of emerging Asian countries based on cross country analysis. Wed, 01 Jan 2020 00:00:00 GMT /library/oar/handle/123456789/57942 2020-01-01T00:00:00Z