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market linkage</title> <meta name="description" content="Search results for: equity market linkage"> <meta name="keywords" content="equity market linkage"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block 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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="equity market linkage"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 4025</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: equity market linkage</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4025</span> Financial Markets Integration between Morocco and France: Implications on International Portfolio Diversification</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdelmounaim%20Lahrech">Abdelmounaim Lahrech</a>, <a href="https://publications.waset.org/abstracts/search?q=Hajar%20Bousfiha"> Hajar Bousfiha</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper examines equity market integration between Morocco and France and its consequent implications on international portfolio diversification. In the absence of stock market linkages, Morocco can act as a diversification destination to European investors, allowing higher returns at a comparable level of risk in developed markets. In contrast, this attractiveness is limited if both financial markets show significant linkage. The research empirically measures financial market’s integration in by capturing the conditional correlation between the two markets using the Generalized Autoregressive Conditionally Heteroscedastic (GARCH) model. Then, the research uses the Dynamic Conditional Correlation (DCC) model of Engle (2002) to track the correlations. The research findings show that there is no important increase over the years in the correlation between the Moroccan and the French equity markets, even though France is considered Morocco’s first trading partner. Failing to prove evidence of the stock index linkage between the two countries, the volatility series of each market were assumed to change over time separately. Yet, the study reveals that despite the important historical and economic linkages between Morocco and France, there is no evidence that equity markets follow. The small correlations and their stationarity over time show that over the 10 years studied, correlations were fluctuating around a stable mean with no significant change at their level. Different explanations can be attributed to the absence of market linkage between the two equity markets. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=equity%20market%20linkage" title="equity market linkage">equity market linkage</a>, <a href="https://publications.waset.org/abstracts/search?q=DCC%20GARCH" title=" DCC GARCH"> DCC GARCH</a>, <a href="https://publications.waset.org/abstracts/search?q=international%20portfolio%20diversification" title=" international portfolio diversification"> international portfolio diversification</a>, <a href="https://publications.waset.org/abstracts/search?q=Morocco" title=" Morocco"> Morocco</a>, <a href="https://publications.waset.org/abstracts/search?q=France" title=" France"> France</a> </p> <a href="https://publications.waset.org/abstracts/15794/financial-markets-integration-between-morocco-and-france-implications-on-international-portfolio-diversification" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/15794.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">442</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4024</span> Volatility Spillover Among the Stock Markets of South Asian Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tariq%20Aziz">Tariq Aziz</a>, <a href="https://publications.waset.org/abstracts/search?q=Suresh%20Kumar"> Suresh Kumar</a>, <a href="https://publications.waset.org/abstracts/search?q=Vikesh%20Kumar"> Vikesh Kumar</a>, <a href="https://publications.waset.org/abstracts/search?q=Sheraz%20Mustafa"> Sheraz Mustafa</a>, <a href="https://publications.waset.org/abstracts/search?q=Jhanzeb%20Marwat"> Jhanzeb Marwat</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper provides an updated version of volatility spillover among the equity markets of South Asian countries, including Pakistan, India, Srilanka, and Bangladesh. The analysis uses both symmetric and asymmetric Generalized Autoregressive Conditional Heteroscedasticity models to investigate volatility persistence and leverage effect. The bivariate EGARCH model is used to test for volatility transmission between two equity markets. Weekly data for the period February 2013 to August 2019 is used for empirical analysis. The findings indicate that the leverage effect exists in the equity markets of all the countries except Bangladesh. The volatility spillover from the equity market of Bangladesh to all other countries is negative and significant whereas the volatility of the equity market of Sri-Lanka does influence the volatility of any other country’s equity market. Indian equity market influence only the volatility of the Sri-Lankan equity market; and there is bidirectional volatility spillover between the equity markets of Pakistan and Bangladesh. The findings are important for policy-makers and international investors. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=volatility%20spillover" title="volatility spillover">volatility spillover</a>, <a href="https://publications.waset.org/abstracts/search?q=volatility%20persistence" title=" volatility persistence"> volatility persistence</a>, <a href="https://publications.waset.org/abstracts/search?q=garch" title=" garch"> garch</a>, <a href="https://publications.waset.org/abstracts/search?q=egarch" title=" egarch"> egarch</a> </p> <a href="https://publications.waset.org/abstracts/121891/volatility-spillover-among-the-stock-markets-of-south-asian-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/121891.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">139</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4023</span> Financial Market Turmoil and Performance of Islamic Equity Indices</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abul%20Shamsuddin">Abul Shamsuddin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The Islamic stock market indices are constructed by screening out stocks that are incompatible with Islam’s prohibition of interest and certain lines of business. This study examines the effects of Islamic screening on the risk-return characteristics of Islamic vis-a-vis mainstream equity portfolios. We use data on Dow Jones Islamic market indices and FTSE Global Islamic indices over 1993-2013. We observe that Islamic equity indices outperform their mainstream counterparts in both raw and risk-adjusted returns. In addition, Islamic equity indices are more resilient to turbulence in international markets than that of their mainstream counterparts. The findings are robust across a variety of portfolio performance measures. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dow%20Jones%20Islamic%20market%20index" title="Dow Jones Islamic market index">Dow Jones Islamic market index</a>, <a href="https://publications.waset.org/abstracts/search?q=FTSE%20global%20Islamic%20index" title=" FTSE global Islamic index"> FTSE global Islamic index</a>, <a href="https://publications.waset.org/abstracts/search?q=ethical%20investment" title=" ethical investment"> ethical investment</a>, <a href="https://publications.waset.org/abstracts/search?q=finance" title=" finance"> finance</a> </p> <a href="https://publications.waset.org/abstracts/4828/financial-market-turmoil-and-performance-of-islamic-equity-indices" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/4828.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">354</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4022</span> Stock Characteristics and Herding Formation: Evidence from the United States Equity Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Chih-Hsiang%20Chang">Chih-Hsiang Chang</a>, <a href="https://publications.waset.org/abstracts/search?q=Fang-Jyun%20Su"> Fang-Jyun Su</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=stock%20characteristics" title="stock characteristics">stock characteristics</a>, <a href="https://publications.waset.org/abstracts/search?q=herding%20formation" title=" herding formation"> herding formation</a>, <a href="https://publications.waset.org/abstracts/search?q=investment%20decision" title=" investment decision"> investment decision</a>, <a href="https://publications.waset.org/abstracts/search?q=US%20equity%20market" title=" US equity market"> US equity market</a>, <a href="https://publications.waset.org/abstracts/search?q=lead-lag%20relationship" title=" lead-lag relationship"> lead-lag relationship</a> </p> <a href="https://publications.waset.org/abstracts/78034/stock-characteristics-and-herding-formation-evidence-from-the-united-states-equity-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/78034.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">275</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4021</span> Informational Efficiency and Integration: Evidence from Gulf Cooperation Council (GCC) Shariah Equity Market</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sania%20Ashraf">Sania Ashraf</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper focuses on the prevalence of informational efficiency and integration of GCC Shariah Equity market for the period of 01st January 2010 to 31st June 2015 with daily equity returns of Kuwait, Oman, Qatar, Bahrain, Saudi Arabia and United Arab Emirates. The study employs traditional as well as the modern approach of tracing out the efficiency and integration in the return series. From the results of efficiency it was observed that the market lacked efficiency in terms of its past information. The results of integration test clearly indicates that there was a long memory in the returns of GCC Shariah during the study period. Hence it was concluded and proved that the returns of all GCC Equity Shariah were not informationally efficient but fractionally integrated during the study period. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=efficiency" title="efficiency">efficiency</a>, <a href="https://publications.waset.org/abstracts/search?q=Fama" title=" Fama"> Fama</a>, <a href="https://publications.waset.org/abstracts/search?q=GCC%20shariah" title=" GCC shariah"> GCC shariah</a>, <a href="https://publications.waset.org/abstracts/search?q=hurst%20exponent" title=" hurst exponent"> hurst exponent</a>, <a href="https://publications.waset.org/abstracts/search?q=integration" title=" integration"> integration</a>, <a href="https://publications.waset.org/abstracts/search?q=serial%20correlation" title=" serial correlation"> serial correlation</a> </p> <a href="https://publications.waset.org/abstracts/50792/informational-efficiency-and-integration-evidence-from-gulf-cooperation-council-gcc-shariah-equity-market" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50792.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">362</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4020</span> Business Challenges and Opportunities of Mobile Applications for Equity Trading in India</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Helee%20Dave">Helee Dave</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Globalization has helped in the growth and change of the Indian economy to a great extent. The purchasing power of Indians has increased. IT Infrastructure has considerably improved in India. There is an increase in the usage of smartphones. The smartphones facilitate all sorts of work now a day, from getting groceries to planning a tour; it is just one click away. Similar is the case with equity trading. The traders in equity market can now deal with their stocks through mobile applications eliminating the middle man. The traders do not have an option but to open a dematerialization account with the banks which are compulsory enough irrespective of their mode of transaction that is online or offline. Considering that India is a young country having more than 50% of its population below the age of 25 and 65% of its population below the age of 35; this youth is comfortable with the usage of smartphones. The banking industry is also providing a virtual platform supporting equity market industry. Yet equity trading through online applications is at an infant stage. This paper primarily attempts to understand challenges and opportunities faced by equity trading through mobile apps in India. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=BPO" title="BPO">BPO</a>, <a href="https://publications.waset.org/abstracts/search?q=business%20process%20outsourcing" title=" business process outsourcing"> business process outsourcing</a>, <a href="https://publications.waset.org/abstracts/search?q=de-materialization%20account" title=" de-materialization account"> de-materialization account</a>, <a href="https://publications.waset.org/abstracts/search?q=equity" title=" equity"> equity</a>, <a href="https://publications.waset.org/abstracts/search?q=ITES" title=" ITES"> ITES</a>, <a href="https://publications.waset.org/abstracts/search?q=information%20technology%20enabled%20services" title=" information technology enabled services"> information technology enabled services</a> </p> <a href="https://publications.waset.org/abstracts/66240/business-challenges-and-opportunities-of-mobile-applications-for-equity-trading-in-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/66240.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">311</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4019</span> Fair Value Accounting and Evolution of the Ohlson Model</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohamed%20Zaher%20Bouaziz">Mohamed Zaher Bouaziz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Our study examines the Ohlson Model, which links a company's market value to its equity and net earnings, in the context of the evolution of the Canadian accounting model, characterized by more extensive use of fair value and a broader measure of performance after IFRS adoption. Our hypothesis is that if equity is reported at its fair value, this valuation is closely linked to market capitalization, so the weight of earnings weakens or even disappears in the Ohlson Model. Drawing on Canada's adoption of the International Financial Reporting Standards (IFRS), our results support our hypothesis that equity appears to include most of the relevant information for investors, while earnings have become less important. However, the predictive power of earnings does not disappear. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fair%20value%20accounting" title="fair value accounting">fair value accounting</a>, <a href="https://publications.waset.org/abstracts/search?q=Ohlson%20model" title=" Ohlson model"> Ohlson model</a>, <a href="https://publications.waset.org/abstracts/search?q=IFRS%20adoption" title=" IFRS adoption"> IFRS adoption</a>, <a href="https://publications.waset.org/abstracts/search?q=value-relevance%20of%20equity%20and%20earnings" title=" value-relevance of equity and earnings"> value-relevance of equity and earnings</a> </p> <a href="https://publications.waset.org/abstracts/106775/fair-value-accounting-and-evolution-of-the-ohlson-model" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/106775.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">189</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4018</span> Fama French Four Factor Model: A Study of Nifty Fifty Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Deeksha%20Arora">Deeksha Arora</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The study aims to explore the applicability of the widely used asset pricing models, namely, Capital Asset Pricing Model (CAPM) and the Fama-French Four Factor Model in the Indian equity market. The study will be based on the companies that form part of the Nifty Fifty Index for a period of five years: 2011 to 2016. The asset pricing model is examined by forming portfolios on the basis of three variables – market capitalization (size effect), book-to-market equity ratio (value effect) and profitability. The study provides a basis to test the presence of the Fama-French Four factor model in Indian stock market. This study may provide a basis for future research in the generalized asset pricing model comprising of multiple risk factors. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=book%20to%20market%20equity" title="book to market equity">book to market equity</a>, <a href="https://publications.waset.org/abstracts/search?q=Fama%20French%20four%20factor%20model" title=" Fama French four factor model"> Fama French four factor model</a>, <a href="https://publications.waset.org/abstracts/search?q=market%20capitalization" title=" market capitalization"> market capitalization</a>, <a href="https://publications.waset.org/abstracts/search?q=profitability" title=" profitability"> profitability</a>, <a href="https://publications.waset.org/abstracts/search?q=size%20effect" title=" size effect"> size effect</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20effect" title=" value effect"> value effect</a> </p> <a href="https://publications.waset.org/abstracts/76959/fama-french-four-factor-model-a-study-of-nifty-fifty-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/76959.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">263</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4017</span> Internal Capital Market Efficiency Study Based on Improved Cash Flow Sensitivity Coefficient - Take Tomorrow Group as an Example</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Peng%20Lu">Peng Lu</a>, <a href="https://publications.waset.org/abstracts/search?q=Liu%20Ting"> Liu Ting</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Because of the difficulty of financing from the external capital market, the reorganization and merger of private enterprises have formed a family group, seeking the help of the internal capital market to alleviate the capital demand. However, the inefficiency of the internal capital market can damage the effect it should have played, and even hinder the development of enterprises. This paper takes the "Tomorrow Group" as the research object to carry on the case analysis. After using the improved cash flow sensitivity coefficient to measure the efficiency of the internal capital market of Tomorrow Group, the inefficiency phenomenon is found. Then the analysis reveals that the reasons for its inefficiency include that the pyramidal equity structure is conducive to control, the separation of cash flow rights and control rights, the concentration of equity leads to poor balance, the abandonment of real industries and information asymmetry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=tomorrow%20group" title="tomorrow group">tomorrow group</a>, <a href="https://publications.waset.org/abstracts/search?q=internal%20capital%20market" title=" internal capital market"> internal capital market</a>, <a href="https://publications.waset.org/abstracts/search?q=related-party%20transactions" title=" related-party transactions"> related-party transactions</a>, <a href="https://publications.waset.org/abstracts/search?q=Baotou%20tomorrow%20technology%20Co." title=" Baotou tomorrow technology Co."> Baotou tomorrow technology Co.</a>, <a href="https://publications.waset.org/abstracts/search?q=LTD" title=" LTD"> LTD</a> </p> <a href="https://publications.waset.org/abstracts/116397/internal-capital-market-efficiency-study-based-on-improved-cash-flow-sensitivity-coefficient-take-tomorrow-group-as-an-example" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/116397.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">136</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4016</span> A Critical Knowledge of Brand Equity in Thai Academic Works</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Pongsiri%20Kamkankaew">Pongsiri Kamkankaew</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper experiments to consider brand equity thought in Thai academic works. This essay employs that the first emerging of brand equity in Thai academic works and the components of brand equity which explore the extent to the convoluted approach with other Thai social condition. In Thailand, brand equity is supposed to provide branding and brand management replacement. However, the commitment of brand equity imposes in its proposal for seemly application in Thai context – to develop the brand equity framework by the Thai social – culture and Thai utilization style which it is questionable whether the brand equity in western conception is useful for characterizing the brand equity in Thailand context. In this position, brand equity also aspects several major questions: How can western conception lead to apply in Thai business? How can diversification be given within Thai SMEs business running? Can corporate brand valuation approach adopt in real business doing? So this paper argues that Thai brand equity notion should reduce disturb over improvement of its self-restraint and business area. Instead, Thai academic who are interested in brand equity can harmonize different mature bodies of discipline and other investigative a frame of references to complete and open the recognizing of brand equity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Thai%20brand%20equity" title="Thai brand equity">Thai brand equity</a>, <a href="https://publications.waset.org/abstracts/search?q=knowledge%20critical" title=" knowledge critical"> knowledge critical</a>, <a href="https://publications.waset.org/abstracts/search?q=brand%20management" title=" brand management"> brand management</a>, <a href="https://publications.waset.org/abstracts/search?q=branding" title=" branding"> branding</a> </p> <a href="https://publications.waset.org/abstracts/55534/a-critical-knowledge-of-brand-equity-in-thai-academic-works" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/55534.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">324</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4015</span> Forecasting Equity Premium Out-of-Sample with Sophisticated Regression Training Techniques</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jonathan%20Iworiso">Jonathan Iworiso</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Forecasting the equity premium out-of-sample is a major concern to researchers in finance and emerging markets. The quest for a superior model that can forecast the equity premium with significant economic gains has resulted in several controversies on the choice of variables and suitable techniques among scholars. This research focuses mainly on the application of Regression Training (RT) techniques to forecast monthly equity premium out-of-sample recursively with an expanding window method. A broad category of sophisticated regression models involving model complexity was employed. The RT models include Ridge, Forward-Backward (FOBA) Ridge, Least Absolute Shrinkage and Selection Operator (LASSO), Relaxed LASSO, Elastic Net, and Least Angle Regression were trained and used to forecast the equity premium out-of-sample. In this study, the empirical investigation of the RT models demonstrates significant evidence of equity premium predictability both statistically and economically relative to the benchmark historical average, delivering significant utility gains. They seek to provide meaningful economic information on mean-variance portfolio investment for investors who are timing the market to earn future gains at minimal risk. Thus, the forecasting models appeared to guarantee an investor in a market setting who optimally reallocates a monthly portfolio between equities and risk-free treasury bills using equity premium forecasts at minimal risk. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=regression%20training" title="regression training">regression training</a>, <a href="https://publications.waset.org/abstracts/search?q=out-of-sample%20forecasts" title=" out-of-sample forecasts"> out-of-sample forecasts</a>, <a href="https://publications.waset.org/abstracts/search?q=expanding%20window" title=" expanding window"> expanding window</a>, <a href="https://publications.waset.org/abstracts/search?q=statistical%20predictability" title=" statistical predictability"> statistical predictability</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20significance" title=" economic significance"> economic significance</a>, <a href="https://publications.waset.org/abstracts/search?q=utility%20gains" title=" utility gains"> utility gains</a> </p> <a href="https://publications.waset.org/abstracts/154547/forecasting-equity-premium-out-of-sample-with-sophisticated-regression-training-techniques" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/154547.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">107</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4014</span> Branding Good Corporate Governance: A Pathway to Strengthen Investors’ Perception and Brand Equity </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Azaz%20Zaman">Azaz Zaman</a>, <a href="https://publications.waset.org/abstracts/search?q=Imtiaz%20Uddin%20Chowdhury"> Imtiaz Uddin Chowdhury</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohammad%20Shariful%20Islam"> Mohammad Shariful Islam</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Corporate governance has become a crucial issue in both the business and academic world as a result of world-wide financial scandals and lack of trust in corporate practices. There is no doubt that in order to thrive and attain growth in the market, a company must earn the trust of its stakeholders by consistently delivering on its commitments. Directors of the companies thus comprehend the importance of upfront communication with relevant stakeholders to increase their confidence. The authors of this article argue that practicing good corporate governance is not enough in this highly competitive market place; corporate leaders need to market their good corporate governance practices in order to make the company more attractive to investors. This article also contends that the strength of corporate governance relies wholly upon the extent to which it is communicated simply, effectively and unceasingly to its stakeholders. The main objective of this study, therefore, is to explore the importance of branding good corporate governance in order to increase corporate brand equity, attract investors, and capture market share. A structured questionnaire comprising three sections and a total of 34 questions was prepared and surveyed by the authors among respondents residing in Bangladesh and who also have an academic and corporate background, to investigate the potential impact of branding good corporate governance in the market place. High mean values for individual questions and overall section depict that communicating and branding good corporate governance to the stakeholders will not only boost the investors’ confidence but also increase the corporate brand equity, yielding both profitable and sustainable business environment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=brand%20equity" title="brand equity">brand equity</a>, <a href="https://publications.waset.org/abstracts/search?q=investors%E2%80%99%20preference" title=" investors’ preference"> investors’ preference</a>, <a href="https://publications.waset.org/abstracts/search?q=good%20corporate%20governance" title=" good corporate governance"> good corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainable%20business%20environment" title=" sustainable business environment"> sustainable business environment</a> </p> <a href="https://publications.waset.org/abstracts/107182/branding-good-corporate-governance-a-pathway-to-strengthen-investors-perception-and-brand-equity" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107182.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">113</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4013</span> Empirical and Indian Automotive Equity Portfolio Decision Support</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=P.%20Sankar">P. Sankar</a>, <a href="https://publications.waset.org/abstracts/search?q=P.%20James%20Daniel%20Paul"> P. James Daniel Paul</a>, <a href="https://publications.waset.org/abstracts/search?q=Siddhant%20Sahu"> Siddhant Sahu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A brief review of the empirical studies on the methodology of the stock market decision support would indicate that they are at a threshold of validating the accuracy of the traditional and the fuzzy, artificial neural network and the decision trees. Many researchers have been attempting to compare these models using various data sets worldwide. However, the research community is on the way to the conclusive confidence in the emerged models. This paper attempts to use the automotive sector stock prices from National Stock Exchange (NSE), India and analyze them for the intra-sectorial support for stock market decisions. The study identifies the significant variables and their lags which affect the price of the stocks using OLS analysis and decision tree classifiers. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Indian%20automotive%20sector" title="Indian automotive sector">Indian automotive sector</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20market%20decisions" title=" stock market decisions"> stock market decisions</a>, <a href="https://publications.waset.org/abstracts/search?q=equity%20portfolio%20analysis" title=" equity portfolio analysis"> equity portfolio analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=decision%20tree%20classifiers" title=" decision tree classifiers"> decision tree classifiers</a>, <a href="https://publications.waset.org/abstracts/search?q=statistical%20data%20analysis" title=" statistical data analysis"> statistical data analysis</a> </p> <a href="https://publications.waset.org/abstracts/6454/empirical-and-indian-automotive-equity-portfolio-decision-support" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/6454.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">485</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4012</span> The Impact of Voluntary Disclosure Level on the Cost of Equity Capital in Tunisian's Listed Firms</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nouha%20Ben%20Salah">Nouha Ben Salah</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohamed%20Ali%20Omri"> Mohamed Ali Omri</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper treats the association between disclosure level and the cost of equity capital in Tunisian’slisted firms. This relation is tested by using two models. The first is used for testing this relation directly by regressing firm specific estimates of cost of equity capital on market beta, firm size and a measure of disclosure level. The second model is used for testing this relation by introducing information asymmetry as mediator variable. This model is suggested by Baron and Kenny (1986) to demonstrate the role of mediator variable in general. Based on a sample of 21 non-financial Tunisian’s listed firms over a period from 2000 to 2004, the results prove that greater disclosure is associated with a lower cost of equity capital. However, the results of indirect relationship indicate a significant positive association between the level of voluntary disclosure and information asymmetry and a significant negative association between information asymmetry and cost of equity capital in contradiction with our previsions. Perhaps this result is due to the biases of measure of information asymmetry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cost%20of%20equity%20capital" title="cost of equity capital">cost of equity capital</a>, <a href="https://publications.waset.org/abstracts/search?q=voluntary%20disclosure" title=" voluntary disclosure"> voluntary disclosure</a>, <a href="https://publications.waset.org/abstracts/search?q=information%20asymmetry" title=" information asymmetry"> information asymmetry</a>, <a href="https://publications.waset.org/abstracts/search?q=and%20Tunisian%E2%80%99s%20listed%20non-financial%20firms" title=" and Tunisian’s listed non-financial firms"> and Tunisian’s listed non-financial firms</a> </p> <a href="https://publications.waset.org/abstracts/19862/the-impact-of-voluntary-disclosure-level-on-the-cost-of-equity-capital-in-tunisians-listed-firms" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/19862.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">517</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4011</span> Measuring Financial Asset Return and Volatility Spillovers, with Application to Sovereign Bond, Equity, Foreign Exchange and Commodity Markets</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Petra%20Palic">Petra Palic</a>, <a href="https://publications.waset.org/abstracts/search?q=Maruska%20Vizek"> Maruska Vizek</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We provide an in-depth analysis of interdependence of asset returns and volatilities in developed and developing countries. The analysis is split into three parts. In the first part, we use multivariate GARCH model in order to provide stylized facts on cross-market volatility spillovers. In the second part, we use a generalized vector autoregressive methodology developed by Diebold and Yilmaz (2009) in order to estimate separate measures of return spillovers and volatility spillovers among sovereign bond, equity, foreign exchange and commodity markets. In particular, our analysis is focused on cross-market return, and volatility spillovers in 19 developed and developing countries. In order to estimate named spillovers, we use daily data from 2008 to 2017. In the third part of the analysis, we use a generalized vector autoregressive framework in order to estimate total and directional volatility spillovers. We use the same daily data span for one developed and one developing country in order to characterize daily volatility spillovers across stock, bond, foreign exchange and commodities markets. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cross-market%20spillovers" title="cross-market spillovers">cross-market spillovers</a>, <a href="https://publications.waset.org/abstracts/search?q=sovereign%20bond%20markets" title=" sovereign bond markets"> sovereign bond markets</a>, <a href="https://publications.waset.org/abstracts/search?q=equity%20markets" title=" equity markets"> equity markets</a>, <a href="https://publications.waset.org/abstracts/search?q=value%20at%20risk%20%28VAR%29" title=" value at risk (VAR)"> value at risk (VAR)</a> </p> <a href="https://publications.waset.org/abstracts/72158/measuring-financial-asset-return-and-volatility-spillovers-with-application-to-sovereign-bond-equity-foreign-exchange-and-commodity-markets" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/72158.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">261</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4010</span> Board of Directors of Small and Medium-Sized Enterprises to Go Public: Characteristics and Moderating Factors</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mar%C3%ADa-Jos%C3%A9%20Palacin-Sanchez">María-José Palacin-Sanchez</a>, <a href="https://publications.waset.org/abstracts/search?q=Filippo%20Di%20Pietro"> Filippo Di Pietro</a>, <a href="https://publications.waset.org/abstracts/search?q=Reyes%20Samaniego-Medina"> Reyes Samaniego-Medina</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article examines, in an institutional context such as Spanish one, the corporate board structure characteristics and determinants in entrepreneurial firms to go public. Specifically, it explores these issues through all the initial public offerings in the Spanish Alternative Equity Market (MAB), which is a market segment for smaller growing companies. The results show that: a) firm size, age of the company, and the reputation of the auditor and the nominated advisor and Corporate Governance Code favour a larger and more independent board structure that enhances its monitoring functions; and b) leverage, opportunities of growth, sector risk and ownership by executive directors all lead towards a smaller broad of directors where the role of entrepreneurship provided by executive directors remains crucial. This reflects the delicate balance of power between small-business entrepreneurs and financial equity market forces, which demand more transparency and monitoring in the companies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=board%20composition" title="board composition">board composition</a>, <a href="https://publications.waset.org/abstracts/search?q=board%20size" title=" board size"> board size</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=IPO" title=" IPO"> IPO</a>, <a href="https://publications.waset.org/abstracts/search?q=SMEs" title=" SMEs"> SMEs</a> </p> <a href="https://publications.waset.org/abstracts/65556/board-of-directors-of-small-and-medium-sized-enterprises-to-go-public-characteristics-and-moderating-factors" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/65556.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">400</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4009</span> Gender Inequality in the Nigerian Labour Market as a Cause of Unemployment among Female Graduates</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Temitope%20Faloye">Temitope Faloye</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The absence of equity and transparency in Nigeria's economic system has resulted in unemployment. Women’s unemployment rate remains higher because women's range of jobs is often narrower due to discriminatory attitudes of employers and gender segregation in the labor market. Gender inequality is one of the strong factors of unemployment, especially in developing countries like Nigeria, where the female gender is marginalized in the labor force market. However, gender equality in terms of labor market access and employment condition has not yet been attained. Feminist theory is considered as an appropriate theory for this study. The study will use a mixed-method design, collecting qualitative and quantitative data to provide answers to the research questions. Therefore, the research study aims to investigate the present situation of gender inequality in the Nigerian labor market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=unemployment" title="unemployment">unemployment</a>, <a href="https://publications.waset.org/abstracts/search?q=gender%20inequality" title=" gender inequality"> gender inequality</a>, <a href="https://publications.waset.org/abstracts/search?q=gender%20equality" title=" gender equality"> gender equality</a>, <a href="https://publications.waset.org/abstracts/search?q=labor%20market" title=" labor market"> labor market</a>, <a href="https://publications.waset.org/abstracts/search?q=female%20graduate" title=" female graduate"> female graduate</a> </p> <a href="https://publications.waset.org/abstracts/140827/gender-inequality-in-the-nigerian-labour-market-as-a-cause-of-unemployment-among-female-graduates" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/140827.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">241</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4008</span> Personal Income and the Social Confidence in Contemporary China: The Indirect Role of the Sense of Social Equity</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Wenfen%20Bi">Wenfen Bi</a>, <a href="https://publications.waset.org/abstracts/search?q=Zeng%20Lin"> Zeng Lin</a> </p> <p class="card-text"><strong>Abstract:</strong></p> As a developing country, China is badly in need of capital and talents to develop the socialist country with Chinese characteristics. However, a large proportion of high income people with know-how technique, wealth and management experience have immigrated or plan to immigrate to other countries. Of course, this phenomenon has attracted the attention from both the government and researchers. One explanation might be that these high-income people lack confidence in China’s social development. Based on the data on W city’s comprehensive social situation surveyed by center for the social survey research of Wuhan university (CSSR) in 2014, this paper employed the structural equation model (SEM) to evaluate whether personal income affects social confidence, via the mediating effect of the sense of social equity (sense of right equity and sense of distributive equity). Bootstrap mediation analysis revealed that after controlling Demographic variables, personal income had a significant negative influence on sense of right equity and in turn, sense of rights equity can significantly positively predict social confidence. While personal income had no significant effect on sense of distributive equity, and sense of distributive equity did not significantly affect macro social confidence. Also, the direct effects of personal income on social confidence became not significant. These findings revealed the inner mechanism of the relationship between the personal income and social confidence in contemporary China, which was caused by mediating effect of sense of rights equity. That is, the higher the personal income, the lower the sense of rights equity, the lower the social confidence. Thus, the boost of the social confidence, especially for the rich, does not only depend on the equitable distribution of material wealth, but also on the right equity and making people feel rights equally in common life. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=personal%20income" title="personal income">personal income</a>, <a href="https://publications.waset.org/abstracts/search?q=sense%20of%20right%20equity" title=" sense of right equity"> sense of right equity</a>, <a href="https://publications.waset.org/abstracts/search?q=sense%20of%20social%20equity" title=" sense of social equity"> sense of social equity</a>, <a href="https://publications.waset.org/abstracts/search?q=social%20confidence" title=" social confidence"> social confidence</a> </p> <a href="https://publications.waset.org/abstracts/63097/personal-income-and-the-social-confidence-in-contemporary-china-the-indirect-role-of-the-sense-of-social-equity" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/63097.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">392</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4007</span> Flux-Linkage Performance of DFIG Under Different Types of Faults and Locations</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohamed%20Moustafa%20Mahmoud%20Sedky">Mohamed Moustafa Mahmoud Sedky</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The double-fed induction generator wind turbine has recently received a great attention. The steady state performance and response of double fed induction generator (DFIG) based wind turbine are now well understood. This paper presents the analysis of stator and rotor flux linkage dq models operation of DFIG under different faults and at different locations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=double%20fed%20induction%20motor" title="double fed induction motor">double fed induction motor</a>, <a href="https://publications.waset.org/abstracts/search?q=wind%20energy" title=" wind energy"> wind energy</a>, <a href="https://publications.waset.org/abstracts/search?q=flux%20linkage" title=" flux linkage"> flux linkage</a>, <a href="https://publications.waset.org/abstracts/search?q=short%20circuit" title=" short circuit"> short circuit</a> </p> <a href="https://publications.waset.org/abstracts/27816/flux-linkage-performance-of-dfig-under-different-types-of-faults-and-locations" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/27816.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">517</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4006</span> Hybrid Equity Warrants Pricing Formulation under Stochastic Dynamics</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Teh%20Raihana%20Nazirah%20Roslan">Teh Raihana Nazirah Roslan</a>, <a href="https://publications.waset.org/abstracts/search?q=Siti%20Zulaiha%20Ibrahim"> Siti Zulaiha Ibrahim</a>, <a href="https://publications.waset.org/abstracts/search?q=Sharmila%20Karim"> Sharmila Karim</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A warrant is a financial contract that confers the right but not the obligation, to buy or sell a security at a certain price before expiration. The standard procedure to value equity warrants using call option pricing models such as the Black–Scholes model had been proven to contain many flaws, such as the assumption of constant interest rate and constant volatility. In fact, existing alternative models were found focusing more on demonstrating techniques for pricing, rather than empirical testing. Therefore, a mathematical model for pricing and analyzing equity warrants which comprises stochastic interest rate and stochastic volatility is essential to incorporate the dynamic relationships between the identified variables and illustrate the real market. Here, the aim is to develop dynamic pricing formulations for hybrid equity warrants by incorporating stochastic interest rates from the Cox-Ingersoll-Ross (CIR) model, along with stochastic volatility from the Heston model. The development of the model involves the derivations of stochastic differential equations that govern the model dynamics. The resulting equations which involve Cauchy problem and heat equations are then solved using partial differential equation approaches. The analytical pricing formulas obtained in this study comply with the form of analytical expressions embedded in the Black-Scholes model and other existing pricing models for equity warrants. This facilitates the practicality of this proposed formula for comparison purposes and further empirical study. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Cox-Ingersoll-Ross%20model" title="Cox-Ingersoll-Ross model">Cox-Ingersoll-Ross model</a>, <a href="https://publications.waset.org/abstracts/search?q=equity%20warrants" title=" equity warrants"> equity warrants</a>, <a href="https://publications.waset.org/abstracts/search?q=Heston%20model" title=" Heston model"> Heston model</a>, <a href="https://publications.waset.org/abstracts/search?q=hybrid%20models" title=" hybrid models"> hybrid models</a>, <a href="https://publications.waset.org/abstracts/search?q=stochastic" title=" stochastic"> stochastic</a> </p> <a href="https://publications.waset.org/abstracts/124157/hybrid-equity-warrants-pricing-formulation-under-stochastic-dynamics" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/124157.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">129</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4005</span> Analysis of Flux-Linkage Performance of DFIG by Using Simulink under Different Types of Faults and Locations</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohamed%20Moustafa%20Mahmoud%20Sedky">Mohamed Moustafa Mahmoud Sedky</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The double-fed induction generator wind turbine has recently received a great attention. The steady state performance and response of double fed induction generator (DFIG) based wind turbine are now well understood. This paper presents the analysis of stator and rotor flux linkage dq models operation of DFIG under different faults and at different locations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=double%20fed%20induction%20motor" title="double fed induction motor">double fed induction motor</a>, <a href="https://publications.waset.org/abstracts/search?q=wind%20energy" title=" wind energy"> wind energy</a>, <a href="https://publications.waset.org/abstracts/search?q=flux%20linkage" title=" flux linkage"> flux linkage</a>, <a href="https://publications.waset.org/abstracts/search?q=short%20circuit" title=" short circuit "> short circuit </a> </p> <a href="https://publications.waset.org/abstracts/27818/analysis-of-flux-linkage-performance-of-dfig-by-using-simulink-under-different-types-of-faults-and-locations" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/27818.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">588</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4004</span> Return of Equity and Labor Productivity Comparison on Some Sino-Foreign Commercial Banks</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Xiaojun%20Wang">Xiaojun Wang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In a lucky emerging market, most Sino commercial banks has developed rapidly and achieved dazzling performance in recent years. As a large sound commercial bank with long history, Wells Fargo Company(WFC) is taken as a mirror in this paper in order to roughly find out the relevance on life circle of the Sino banks in comparison with WFC. Two financial measures return on equity(ROE) and overall labor productivity(OLP), three commercial banks the Hong Kong and Shanghai Banking Corporation Limited(HSBC), the Bank of Communication(BCM) and China Minsheng Bank(CMSB) are selected. The comparison data coming from historical annual reports of each company vary from 13 years to 51 years. Several conclusions from the results indicate that most Sino commercial banks would be continually developing with lower financial measures performance for later several decades. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=commercial%20bank" title="commercial bank">commercial bank</a>, <a href="https://publications.waset.org/abstracts/search?q=features%20comparison" title=" features comparison"> features comparison</a>, <a href="https://publications.waset.org/abstracts/search?q=labor%20productivity" title=" labor productivity"> labor productivity</a>, <a href="https://publications.waset.org/abstracts/search?q=return%20on%20equity" title=" return on equity"> return on equity</a> </p> <a href="https://publications.waset.org/abstracts/84472/return-of-equity-and-labor-productivity-comparison-on-some-sino-foreign-commercial-banks" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/84472.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">264</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4003</span> Impact on Cost of Equity of Accounting and Disclosures</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abhishek%20Ranga">Abhishek Ranga</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The study examined the effect of accounting choice and level of disclosure on the firm’s implied cost of equity in Indian environment. For the study accounting choice was classified as aggressive or conservative depending upon the firm’s choice of accounting methods, accounting policies and accounting estimates. Level of disclosure is the quantum of financial and non-financial information disclosed in firm’s annual report, essentially in note to accounts section, schedules forming part of financial statements and Management Discussion and Analysis report. Regression models were developed with cost of equity as a dependent variable and accounting choice, level of disclosure as an independent variable along with selected control variables. Cost of equity was measured using Edward-Bell-Ohlson (EBO) valuation model, to measure accounting choice Modified-Jones-Model (MJM) was used and level of disclosure was measured using a disclosure index essentially drawn from Botosan study. Results indicated a negative association between the implied cost of equity and conservative accounting choice and also between level of disclosure and cost of equity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=aggressive%20accounting%20choice" title="aggressive accounting choice">aggressive accounting choice</a>, <a href="https://publications.waset.org/abstracts/search?q=conservative%20accounting%20choice" title=" conservative accounting choice"> conservative accounting choice</a>, <a href="https://publications.waset.org/abstracts/search?q=disclosure" title=" disclosure"> disclosure</a>, <a href="https://publications.waset.org/abstracts/search?q=implied%20cost%20of%20equity" title=" implied cost of equity"> implied cost of equity</a> </p> <a href="https://publications.waset.org/abstracts/25181/impact-on-cost-of-equity-of-accounting-and-disclosures" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/25181.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">462</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4002</span> Smart Beta Portfolio Optimization</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Saud%20Al%20Mahdi">Saud Al Mahdi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=beta" title="beta">beta</a>, <a href="https://publications.waset.org/abstracts/search?q=alpha" title=" alpha"> alpha</a>, <a href="https://publications.waset.org/abstracts/search?q=active%20portfolio%20management" title=" active portfolio management"> active portfolio management</a>, <a href="https://publications.waset.org/abstracts/search?q=trading%20strategies" title=" trading strategies "> trading strategies </a> </p> <a href="https://publications.waset.org/abstracts/28119/smart-beta-portfolio-optimization" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28119.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">355</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4001</span> Causal Relationship between Macro-Economic Indicators and Fund Unit Price Behaviour: Evidence from Malaysian Equity Unit Trust Fund Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Anwar%20Hasan%20Abdullah%20Othman">Anwar Hasan Abdullah Othman</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahamed%20Kameel"> Ahamed Kameel</a>, <a href="https://publications.waset.org/abstracts/search?q=Hasanuddeen%20Abdul%20Aziz"> Hasanuddeen Abdul Aziz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this study, an attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However, the global oil prices is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However, the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate and corruption index. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fund%20unit%20price" title="fund unit price">fund unit price</a>, <a href="https://publications.waset.org/abstracts/search?q=unit%20trust%20industry" title=" unit trust industry"> unit trust industry</a>, <a href="https://publications.waset.org/abstracts/search?q=Malaysia" title=" Malaysia"> Malaysia</a>, <a href="https://publications.waset.org/abstracts/search?q=macroeconomic%20variables" title=" macroeconomic variables"> macroeconomic variables</a>, <a href="https://publications.waset.org/abstracts/search?q=causality" title=" causality"> causality</a> </p> <a href="https://publications.waset.org/abstracts/21736/causal-relationship-between-macro-economic-indicators-and-fund-unit-price-behaviour-evidence-from-malaysian-equity-unit-trust-fund-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/21736.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">470</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">4000</span> The Spatial Equity Assessment of Community-Based Elderly Care Facilities in Old Neighborhood of Chongqing</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jiayue%20Zhao">Jiayue Zhao</a>, <a href="https://publications.waset.org/abstracts/search?q=Hongjuan%20Wu"> Hongjuan Wu</a>, <a href="https://publications.waset.org/abstracts/search?q=Guiwen%20Liu"> Guiwen Liu</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Old neighborhoods with a large elderly population depend on community-based elderly care facilities (community-based ECFs) for aging-in-place. Yet, due to scarce and scattered land, the facilities face inequitable distribution. This research uses spatial equity theory to measure the spatial equity of community-based ECFs in old neighborhoods. Field surveys gather granular data and methods, including coverage rate, Gini coefficient, Lorenz curve, and G2SFCA. The findings showed that coverage is substantial but does not indicate supply is a match to demand, nor does it imply superior accessibility. The key contributions are that structuring spatial equity framework considering elderly residents’ travel behavior. This study is dedicated to the international literature on spatial equity from the perspective of travel behavior and could provide valuable suggestions for the urban planning of old neighborhoods. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=community-based%20ECFs" title="community-based ECFs">community-based ECFs</a>, <a href="https://publications.waset.org/abstracts/search?q=elderly%20residents%E2%80%99%20travel%20behavior" title=" elderly residents’ travel behavior"> elderly residents’ travel behavior</a>, <a href="https://publications.waset.org/abstracts/search?q=old%20neighborhoods" title=" old neighborhoods"> old neighborhoods</a>, <a href="https://publications.waset.org/abstracts/search?q=spatial%20equity" title=" spatial equity"> spatial equity</a> </p> <a href="https://publications.waset.org/abstracts/186345/the-spatial-equity-assessment-of-community-based-elderly-care-facilities-in-old-neighborhood-of-chongqing" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/186345.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">58</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3999</span> The Relationships between Market Orientation and Competitiveness of Companies in Banking Sector</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Patrik%20Jangl">Patrik Jangl</a>, <a href="https://publications.waset.org/abstracts/search?q=Milan%20Mikul%C3%A1%C5%A1t%C3%ADk"> Milan Mikuláštík</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The objective of the paper is to measure and compare market orientation of Swiss and Czech banks, as well as examine statistically the degree of influence it has on competitiveness of the institutions. The analysis of market orientation is based on the collecting, analysis and correct interpretation of the data. Descriptive analysis of market orientation describe current situation. Research of relation of competitiveness and market orientation in the sector of big international banks is suggested with the expectation of existence of a strong relationship. Partially, the work served as reconfirmation of suitability of classic methodologies to measurement of banks’ market orientation. Two types of data were gathered. Firstly, by measuring subjectively perceived market orientation of a company and secondly, by quantifying its competitiveness. All data were collected from a sample of small, mid-sized and large banks. We used numerical secondary character data from the international statistical financial Bureau Van Dijk’s BANKSCOPE database. Statistical analysis led to the following results. Assuming classical market orientation measures to be scientifically justified, Czech banks are statistically less market-oriented than Swiss banks. Secondly, among small Swiss banks, which are not broadly internationally active, small relationship exist between market orientation measures and market share based competitiveness measures. Thirdly, among all Swiss banks, a strong relationship exists between market orientation measures and market share based competitiveness measures. Above results imply existence of a strong relation of this measure in sector of big international banks. A strong statistical relationship has been proven to exist between market orientation measures and equity/total assets ratio in Switzerland. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=market%20orientation" title="market orientation">market orientation</a>, <a href="https://publications.waset.org/abstracts/search?q=competitiveness" title=" competitiveness"> competitiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=marketing%20strategy" title=" marketing strategy"> marketing strategy</a>, <a href="https://publications.waset.org/abstracts/search?q=measurement%20of%20market%20orientation" title=" measurement of market orientation"> measurement of market orientation</a>, <a href="https://publications.waset.org/abstracts/search?q=relation%20between%20market%20orientation%20and%20competitiveness" title=" relation between market orientation and competitiveness"> relation between market orientation and competitiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=banking%20sector" title=" banking sector"> banking sector</a> </p> <a href="https://publications.waset.org/abstracts/9587/the-relationships-between-market-orientation-and-competitiveness-of-companies-in-banking-sector" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/9587.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">476</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3998</span> The Use of Ward Linkage in Cluster Integration with a Path Analysis Approach</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Adji%20Achmad%20Rinaldo%20Fernandes">Adji Achmad Rinaldo Fernandes</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Path analysis is an analytical technique to study the causal relationship between independent and dependent variables. In this study, the integration of Clusters in the Ward Linkage method was used in a variety of clusters with path analysis. The variables used are character (x₁), capacity (x₂), capital (x₃), collateral (x₄), and condition of economy (x₄) to on time pay (y₂) through the variable willingness to pay (y₁). The purpose of this study was to compare the Ward Linkage method cluster integration in various clusters with path analysis to classify willingness to pay (y₁). The data used are primary data from questionnaires filled out by customers of Bank X, using purposive sampling. The measurement method used is the average score method. The results showed that the Ward linkage method cluster integration with path analysis on 2 clusters is the best method, by comparing the coefficient of determination. Variable character (x₁), capacity (x₂), capital (x₃), collateral (x₄), and condition of economy (x₅) to on time pay (y₂) through willingness to pay (y₁) can be explained by 58.3%, while the remaining 41.7% is explained by variables outside the model. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cluster%20integration" title="cluster integration">cluster integration</a>, <a href="https://publications.waset.org/abstracts/search?q=linkage" title=" linkage"> linkage</a>, <a href="https://publications.waset.org/abstracts/search?q=path%20analysis" title=" path analysis"> path analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=compliant%20paying%20behavior" title=" compliant paying behavior"> compliant paying behavior</a> </p> <a href="https://publications.waset.org/abstracts/135016/the-use-of-ward-linkage-in-cluster-integration-with-a-path-analysis-approach" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/135016.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">186</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3997</span> Building Brand Equity in a Stigmatised Market: A Cannabis Industry Case Study</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Sibongile%20Masemola">Sibongile Masemola</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In 2018, South Africa decriminalised recreational cannabis use and private cultivation, since then, cannabis businesses have been established to meet the demand. However, marketing activities remain limited in this industry, and businesses are unable to disseminate promotional messages, however, as a solution, firms can promote their brands and positioning instead of the actual product (Bick, 2015). Branding is essential to create differences among cannabis firms and to attract and keep customers (Abrahamsson, 2014). Building cannabis firms into brands can better position them in the mind of the consumer so that they become and remain competitive. The aim of this study was to explore how South African cannabis retailers can build brand equity in a stigmatised market, despite significant restrictions on marketing efforts. Keller’s (2001) customer-based brand equity (CBBE) model was used as the as the theoretical framework and explored how cannabis firms build their businesses into brands through developing their brand identity, meaning, performance, and relationships, and ultimately creating brand equity. The study employed a qualitative research method, using semi-structured in-depth interviews among 17 participants to gain insights from cannabis owners and marketers in the recreational cannabis environment. Most findings were presented according to the blocks of CBBE model. Furthermore, a conceptual framework named the stigma-based brand equity (SBBE) model was adapted from Keller’s CBBE model to include an additional building block that accounts for industry-specific characteristics unique to stigmatised markets. Findings revealed the pervasiveness of education and its significance to brand building in a stigmatised industry. Results also demonstrated the overall effect stigma has on businesses and their consumers due to the longstanding negative evaluations of cannabis. Hence, through stigma-bonding, brands can develop deep identity-related psychological bonds with their consumers that will potentially lead to strong brand resonance. This study aims to contribute business-relevant knowledge for firms operating in core-stigmatised markets under controlled marketing regulations by exploring how cannabis firms can build brand equity. Practically, this study presents recommendations for retailers in stigmatised markets on how to destigmatise, build brand identity, create brand meaning, elicit desired brand responses, and develop brand relationships – ultimately building brand equity. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=branding" title="branding">branding</a>, <a href="https://publications.waset.org/abstracts/search?q=brand%20equity" title=" brand equity"> brand equity</a>, <a href="https://publications.waset.org/abstracts/search?q=cannabis" title=" cannabis"> cannabis</a>, <a href="https://publications.waset.org/abstracts/search?q=organisational%20stigma" title=" organisational stigma"> organisational stigma</a> </p> <a href="https://publications.waset.org/abstracts/150931/building-brand-equity-in-a-stigmatised-market-a-cannabis-industry-case-study" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/150931.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">101</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">3996</span> The Relationship of Entrepreneurial Competencies and Business Success of Malaysian SMEs: The Mediating Role of Innovation and Brand Equity </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Azmi%20Umar">Azmi Umar</a>, <a href="https://publications.waset.org/abstracts/search?q=Rohana%20Ngah"> Rohana Ngah</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The aim of this paper is to examine the relationship of entrepreneurial competencies on business success in the context of Malaysian SMEs. In the recent study, when the business environment is hostile and dynamic, the entrepreneurial competencies are identified as the most important factor in business success. Entrepreneurial competencies are also connected directly to business performance. Beside entrepreneurial competencies, the entrepreneurs should also be competent to create an innovation and brand equity for business growth. The innovation and brand equity contributed to competitive advantages that lead to business growth and success. This paper adopts the Resource Based Theory (RBT) which emphasize that entrepreneurial competencies, innovation and brand equity are valuable and intangible resources that lead towards the success of business; and Brand Equity Creation Process Model (BECPM). A quantitative methodology was used to collect the data from owner/managers of Malaysian SMEs. Data were analyzed by using SPSS and SEM software. Hence, findings of the present study would be essential for owner/managers and strategy makers to enhance the entrepreneurial competencies; innovation and brand equity of SMEs in Malaysia towards global competition. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=entrepreneurial%20competencies" title="entrepreneurial competencies">entrepreneurial competencies</a>, <a href="https://publications.waset.org/abstracts/search?q=innovation" title=" innovation"> innovation</a>, <a href="https://publications.waset.org/abstracts/search?q=brand%20equity" title=" brand equity"> brand equity</a>, <a href="https://publications.waset.org/abstracts/search?q=business%20success" title=" business success"> business success</a>, <a href="https://publications.waset.org/abstracts/search?q=SMEs" title=" SMEs"> SMEs</a> </p> <a href="https://publications.waset.org/abstracts/57743/the-relationship-of-entrepreneurial-competencies-and-business-success-of-malaysian-smes-the-mediating-role-of-innovation-and-brand-equity" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/57743.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">383</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=equity%20market%20linkage&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=equity%20market%20linkage&page=3">3</a></li> <li class="page-item"><a class="page-link" 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