Search results for: contagion

Authors: Christian Bucio Pacheco, Miriam Magnolia Sosa Castro, María Alejandra Cabello Rosales

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This paper aims to analyze the contagion effect among the stock markets of the BRIC+M block (Brazil, Russia, India, China plus Mexico). The contagion effect is proved through increasing on dependence parameters during crisis periods. The dependence parameters are estimated through copula approach in a period of time from July 1997 to December 2015. During this period there are instability and calm episodes, allowing to analyze changes in the relations of dependence. Empirical results show strong evidence of time-varying dependence among the BRIC+M markets and an increasing dependence relation during global financial crisis period.

Keywords: BRIC+M Block, Contagion effect, Copula, dependence

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Authors: Silene Ten Seldam, Kiara Margarita Lu, Melina Nicole Kyranides

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Psychopathic traits are marked by a lack of empathy and an inability to maintain meaningful relationships. Yet little research has investigated differences in interpersonal relationships between primary and secondary psychopathic traits. Emotional contagion, the tendency to automatically mimic others’ facial expressions and movements, is a type of empathy contributing to relationship quality. Additionally, the motivating and pleasurable aspects of social interaction, social reward is integral to understanding relationships. Therefore, the current research investigated interpersonal relationships through relationship status, the quality of friendships, the susceptibility to positive (happiness, love) and negative (sadness, fear, anger) emotional contagion, and social reward. Recruited online, 389 participants between 18 and 76 years old (M = 33.61; of which 241 were female) completed self-report questionnaires assessing primary and secondary psychopathic traits, friendship, emotional contagion, and social rewards. Hierarchical multiple regression showed relationship status as a protective factor and that individuals with secondary psychopathic traits are less likely to be in a relationship. This study is the first to investigate emotional contagion with primary and secondary psychopathic traits. Emotional contagion for sadness predicted secondary psychopathic traits. Negative social potency (enjoying being cruel and antagonistic to others) predicted both primary and secondary traits. However, admiration and prosocial interactions only predicted primary psychopathic traits. Findings infer differences in maintaining relationships, regulating emotions, empathising with others through emotional contagion, and motivation to socially engage, perhaps due to each dimensions’distinct origins and manifestations.

Keywords: primary psychopathic traits, secondary psychopathic traits, interpersonal relationships, friendship, emotional contagion, social reward

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Authors: Ali Bhayani

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College is a high involvement decision making where students are expected to evaluate several college offerings before selecting a college or a course to study. However, even in high involvement product like college, students get influenced by opinion leaders and suffer from social contagion. This narrative style study, involving 98 first year students, was able to demonstrate that social contagion differs with regards to gender, ethnicity and personality. Recommendations from students with academically strong background would impact on the college choice of the undergraduate students and limit information search. Study was able to identify the incidence of anchoring heuristics amongst the students. Managerial implications with regards to design of marketing campaign follows at the end of the study.

Keywords: social contagion, opinion leaders, higher education, consumer behavior

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Authors: Andres Pinilla Palacios, Ricardo Tamayo

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Emotional contagion is characterized as an automatic tendency to synchronize behaviors that facilitate emotional convergence among humans. It might thus play a pivotal role to understand the dynamics of key social interactions. However, a few research has investigated its potential mechanisms. We suggest two complementary but independent processes that may underlie emotional contagion. The efficient contagion hypothesis, based on fast and implicit bottom-up processes, modulated by familiarity and spread of activation in the emotional associative networks of memory. Secondly, the emotional contrast hypothesis, based on slow and explicit top-down processes guided by deliberated appraisal and hypothesis-testing. In order to assess these two hypotheses, an experiment with 39 participants was conducted. In the first phase, participants were induced (between-groups) to an emotional state (positive, neutral or negative) using a standardized video taken from the FilmStim database. In the second phase, participants classified and rated (within-subject) the emotional state of 15 faces (5 for each emotional state) taken from the POFA database. In the third phase, all participants were returned to a baseline emotional state using the same neutral video used in the first phase. In a fourth phase, participants classified and rated a new set of 15 faces. The accuracy in the identification and rating of emotions was partially explained by the efficient contagion hypothesis, but the speed with which these judgments were made was partially explained by the emotional contrast hypothesis. However, results are ambiguous, so a follow-up experiment is proposed in which emotional expressions and activation of the sympathetic system will be measured using EMG and EDA respectively.

Keywords: electromyography, emotional contagion, emotional valence, identification of emotions, imitation

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Authors: Khushi, Simrat

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The study aims to investigate the relationship between emotions and employee's social cognition and decision-making among employees. The sample of the study was the total number of participants, which included employees from various industries and job positions. Research papers in the same area were reviewed, providing a comprehensive review of existing literature and theoretical frameworks and shedding light on the interpersonal effects of emotions in the workplace. It emphasizes how one worker's emotions can significantly impact the overall work environment and productivity as well as the work of a common phenomenon known as Emotional contagion at the workplace, affecting social interactions and group dynamics. Therefore, this study concludes that Emotional contagion can lead to a ripple effect within the workplace, influencing the overall atmosphere and productivity. Emotions can shape how employees process information and make choices, ultimately impacting organizational outcomes.

Keywords: employee decision making, social cognition, emotions, industry, emotional contagion, workplace dynamics

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Authors: Ratna Kuswardani

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This paper aims to study the impact of recent Global Financial Crisis (GFC) on 6 selected emerging Asian economies (Indonesia, Malaysia, Thailand, Philippines, Singapore, and South Korea). We first figure out the contagion of GFC from the US and Europe to the selected emerging Asian countries by studying the tail dependence of market stock returns between those countries. We apply the concept of Extreme Value Theory (EVT) to model the dependence between multiple returns series of variables under examination. We explore the factors causing the contagion between the regions. We find dependencies between markets that are influenced by their size, especially for large markets in emerging Asian countries that tend to have a higher dependency to the market in the more advanced country such as the U.S. and some countries in Europe. The results also suggest that the dependencies between market returns and bank stock returns in the same region tend to be higher than dependencies between these returns across two different regions. We extend our analysis by studying the impact of GFC on the systemic in the banking system. We also find that larger institution has more dependencies with the market stock, suggesting that larger size bank can cause disruption in the market. Further, the higher probability of extreme loss can be seen during the crisis period, which is shown by the non-linear dependency between the pre-crisis and the post-crisis period. Finally, our analysis suggests that systemic risk appears in the domestic banking systems in emerging Asia, as shown by the extreme dependencies within banks in the system. Overall, our results provide caution to policy makers and investors alike on the possible contagion of the impact of global financial crisis across different markets.

Keywords: contagion, extreme value theory, global financial crisis, systemic risk

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Authors: Lidia Sanchis-Marco, Antonio Rubia

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In this paper we analyze the state-dependent risk-spillover in different economic areas. To this end, we apply the quantile regression-based methodology developed in Adams, Füss and Gropp approach to examine the spillover in conditional tails of daily returns of indices of the banking industry in the US, BRICs, Peripheral EMU, Core EMU, Scandinavia, the UK and Emerging Markets. This methodology allow us to characterize size, direction and strength of financial contagion in a network of bilateral exposures to address cross-border vulnerabilities under different states of the economy. The general evidence shows as the spillover effects are higher and more significant in volatile periods than in tranquil ones. There is evidence of tail spillovers of which much is attributable to a spillover from the US on the rest of the analyzed regions, specially on European countries. In sharp contrast, the US banking system show more financial resilience against foreign shocks.

Keywords: spillover effects, Bank Contagion, SDSVaR, expected shortfall, VaR, expectiles

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Authors: Rahmoune Abdelhaq

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Systemic risk is a key concern for central banks charged with safeguarding overall financial stability. In this work, we investigate how systemic risk is affected by the structure of the financial system. We construct banking systems that are composed of a number of banks that are connected by interbank linkages. We then vary the key parameters that define the structure of the financial system — including its level of capitalization, the degree to which banks are connected, the size of interbank exposures and the degree of concentration of the system — and analyses the influence of these parameters on the likelihood of contagious (knock-on) defaults. First, we find that the better-capitalized banks are, the more resilient is the banking system against contagious defaults and this effect is non-linear. Second, the effect of the degree of connectivity is non-monotonic, that is, initially a small increase in connectivity increases the contagion effect; but after a certain threshold value, connectivity improves the ability of a banking system to absorb shocks. Third, the size of interbank liabilities tends to increase the risk of knock-on default, even if banks hold capital against such exposures. Fourth, more concentrated banking systems are shown to be prone to larger systemic risk, all else equal. In an extension to the main analysis, we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tier) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out. This paper also discusses why bank risk management is needed to get the optimal one.

Keywords: financial stability, contagion, liquidity risk, optimal risk

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Authors: Hima Elizabeth Mathew, V. VijayalakshmI

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All of us know what it is like to experience humor. Humor and laughter are universal aspects of human experience, occurring in all cultures and virtually in all individuals throughout the world. For people today, the workplace is associated more with the cubicles they sit, than with the co-workers around them. With reference to the current generation and the work context, the paper aims to understand the concept of humor at the workplace and its influence on team creativity in organizations. Humor is a multi-disciplinary topic that has been investigated for many years by researchers from fields such as anthropology, psychology, physiology and linguistics but significantly less thoroughly by management researchers. Researchers in the field of creativity also had their initial focus on the individual differences leading to creativity. Although the studies yielded some important findings regarding creative people, it provided the little help to practitioners in helping people develop creativity and almost ignored the role of social environment in enhancing creativity. After a review the relevant literature of the key variables, a theoretical framework is proposed linking workplace humor, emotional contagion, and team creativity. The findings of the study are expected to help academicians gain clarity on Workplace Humor for future research.

Keywords: emotional contagion, humor, team creativity, workplace humor

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Authors: Ameen Alshugaa, Abul Mansur Masih

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This paper sheds light on the economic impacts of political uncertainty caused by the civil uprisings that swept the Arab World and have been collectively known as the Arab Spring. Measuring documented effects of political uncertainty on regional stock market indices, we examine the impact of the Arab Spring on the volatility of stock markets in eight countries in the Middle East and North Africa (MENA) region: Egypt, Lebanon, Jordon, United Arab Emirate, Qatar, Bahrain, Oman and Kuwait. This analysis also permits testing the existence of financial contagion among equity markets in the MENA region during the Arab Spring. To capture the time-varying and multi-horizon nature of the evidence of volatility and contagion in the eight MENA stock markets, we apply two robust methodologies on consecutive data from November 2008 to March 2014: MGARCH-DCC, Continuous Wavelet Transforms (CWT). Our results indicate two key findings. First, the discrepancies between volatile stock markets of countries directly impacted by the Arab Spring and countries that were not directly impacted indicate that international investors may still enjoy portfolio diversification and investment in MENA markets. Second, the lack of financial contagion during the Arab Spring suggests that there is little evidence of cointegration among MENA markets. Providing a general analysis of the economic situation and the investment climate in the MENA region during and after the Arab Spring, this study bear significant importance for policy makers, local and international investors, and market regulators.

Keywords: Portfolio Diversification , MENA Region , Stock Market Indices, MGARCH-DCC, Wavelet Analysis, CWT

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Authors: Concetta Papapicco

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The spreading of new Coronavirus (COVID-19) in addition to becoming a global phenomenon, following the declaration of a pandemic state, has generated excessive access to information, sometimes not thoroughly screened, which makes it difficult to navigate a given topic because of the difficulty of finding reliable sources. As a result, there is a high level of contagion, understood as the spread of the virus, but also as the spread of information in a viral and harmful way, which prompted the World Health Organization to coin the term Infodemia to give 'a name' the phenomenon of excessive information. With neologism 'Infodemia', the World Health Organization (OMS) wanted, in these days when fear of the coronavirus is raging, point out that perhaps the greatest danger of global society in the age of social media. This phenomenon is the distortion of reality in the rumble of echoes and comments of the global community on real or often invented facts. The general purpose of the exploratory study is to investigate how the coronavirus situation is described from journalistic communication. Starting from La Repubblica online, as a reference journalistic magazine, as a specific objective, the research aims to understand the way in which journalistic communication describes the phenomenon of the COVID-19 virus spread, the spread of contagion and restrictive measures of social distancing in the Italian context. The study starts from the hypothesis that if the circulation of information helps to create a social representation of the phenomenon, the excessive accessibility to sources of information (Infodemia) can be modulated by the 'how' the phenomenon is described by the journalists. The methodology proposed, in fact, in the exploratory study is a quanti-qualitative (mixed) method. A Content Analysis with the SketchEngine software is carried out first. In support of the Content Analysis, a Diatextual Analysis was carried out. The Diatextual Analysis is a qualitative analysis useful to detect in the analyzed texts, that is the online articles of La Repubblica on the topic of coronavirus, Subjectivity, Argomentativity, and Mode. The research focuses mainly on 'Mode' or 'How' are the events related to coronavirus in the online articles of La Repubblica about COVID-19 phenomenon. The results show the presence of the contrast vision about COVID-19 situation in Italy.

Keywords: coronavirus, Italian infodemia, La Republica online, mix method

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Authors: Manel Youssef, Lotfi Belkacem

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This paper employs multivariate long memory GARCH models to simultaneously estimate mean and conditional variance spillover effects between oil prices and different financial markets. Since different financial assets are traded based on these market sector returns, it’s important for financial market participants to understand the volatility transmission mechanism over time and across these series in order to make optimal portfolio allocation decisions. We examine weekly returns from January 1, 2003 to November 30, 2012 and find evidence of significant transmission of shocks and volatilities between oil prices and some of the examined financial markets. The findings support the idea of cross-market hedging and sharing of common information by investors.

Keywords: oil prices, stock indices returns, oil volatility, contagion, DCC-multivariate (FI) GARCH

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Authors: Zidane Abderrezzaq

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In contrast to recent successful developments in macro monetary policies, the modelling, measurement and management of systemic financial stability has remained problematical. Indeed, the focus of most effort has been on improving individual, rather than systemic, bank risk management; the Basel II objective has been to bring regulatory bank capital into line with the (sophisticated) banks’ assessment of their own economic capital. Even at the individual bank level there are concerns over appropriate diversification allowances, differing objectives of banks and regulators, the need for a buffer over regulatory minima, and the distinction between expected and unexpected losses (EL and UL). At the systemic level the quite complex and prescriptive content of Basel II raises dangers of ‘endogenous risk’ and procyclicality. Simulations suggest that this latter could be a serious problem. In an extension to the main analysis we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tiering) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out.

Keywords: systemic stability, financial regulation, credit risk, systemic risk

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Authors: E. O. George, P. Ojeaga, D. Odejimi, O. Mattehws

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Has macroeconomic management succeeded in making privatization promote growth in Africa? What are the probable strategies that should accompany the privatization reform process to promote growth in Africa? To what extent has the privatization process succeeded in attracting foreign direct investment to Africa? The study investigates the relationship between macroeconomic management and privatization. Many African countries have embarked on one form of privatization reform or the other since 1980 as one of the stringent conditions for accessing capital from the IMF and the World Bank. Secondly globalization and the gradually integration of the African economy into the global economy also means that Africa has to strategically develop its domestic market to cushion itself from fluctuations and probable contagion associated with global economic crisis that are always inevitable Stiglitz. The methods of estimation used are the OLS, linear mixed effects (LME), 2SLS and the GMM method of estimation. It was found that macroeconomic management has the capacity to affect the success of the privatization reform process. It was also found that privatization was not promoting growth in Africa; privatization could promote growth if long run growth strategies are implemented together with the privatization reform process. Privatization was also found not to have the capacity to attract foreign investment to many African countries.

Keywords: Africa, political economy, game theory, macroeconomic management and privatization

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Authors: Martin Gascón Hove, Ralph Vermeltfoort, Alessandro Fiorini, Erwan Dulaurent, Henning von Perbandt

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Introduction: The outbreak of the COVID-19 pandemic has completely changed the global health situation, with more than 400 million cases published and over 5 million deaths. European Air Transport Command (EATC) is integrated by seven nations, and among its capabilities is that of aeromedical evacuation (AM). Material and methods: Impact of novel coronavirus was analysed based on the number and characteristics of patients and executed missions within EATC and, particularly by Spain, during the biennium 2020-2021. Results: One thousand sixty patients were transported in 186 missions. Neither death nor disease contagion was reported during AM performances. Military cases transferred were 986, mostly routine priority (91,4%), and 74 were civilians, who were transported in 17 missions, and 81,1% of which were categorized as urgent. Niger led the list of original countries, with 191 evacuated patients. 76,1% of requests came from Italy and Germany. Airbus A310 was the most used aircraft (32,2%). Germany transported 222 patients of another nationality, while Spain executed eight missions and repatriated 68 cases, 58 of which were from Mali. Conclusions: COVID-19 has led to a surged number of evacuated patients inside EATC, which has proven to be a safe and effective means of transportation, even in critical cases. Spain has gained prominence since its annexation in 2015.

Keywords: COVID-19, SARS-CoV-2, pandemic, aviation, Spain

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Authors: García López

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The Government Departments of Health have the task of informing and educating citizens about public health issues. For this, they use channels like Twitter, key in the search for health information and the propagation of content. The tweets, important in the virality of the content, may contain emotions that influence the contagion and exchange of knowledge. The goal of this study is to perform an analysis of the emotional projection of health information shared on Twitter by official American accounts: the disease control account CDCgov, National Institutes of Health, NIH, the government agency HHSGov, and the professional organization PublicHealth. For this, we used Tone Analyzer, an International Business Machines Corporation (IBM) tool specialized in emotion detection in text, corresponding to the categorical model of emotion representation. For 15 days, all tweets from these accounts were analyzed with the emotional analysis tool in text. The results showed that their tweets contain an important emotional load, a determining factor in the success of their communications. This exposes that official accounts also use subjective language and contain emotions. The predominance of emotion joy over sadness and the strong presence of emotions in their tweets stimulate the virality of content, a key in the work of informing that government health departments have.

Keywords: emotions in tweets, emotion detection in the text, health information on Twitter, American health official accounts, emotions on Twitter, emotions and content

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Authors: Nini Johana Marin Rodriguez

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This paper applies DCC, EWMA and OGARCH models to compare the dynamic correlations between exchange rates, oil prices, exchange rates and stock markets to examine the time-varying conditional correlations to the daily oil prices and index returns in relation to the US dollar/local currency for developed (Canada and Mexico) and emerging Latin American markets (Brazil, Chile, Colombia and Peru). Changes in correlation interactions are indicative of structural changes in market linkages with implications to contagion and interdependence. For each pair of stock price-exchange rate and oil price-US dollar/local currency, empirical evidence confirms of a strengthening negative correlation in the last decade. Methodologies suggest only two events have significatively impact in the countries analyzed: global financial crisis and Europe crisis, both events are associated with shifts of correlations to stronger negative level for most of the pairs analyzed. While, the first event has a shifting effect on mainly emerging members, the latter affects developed members. The identification of these relationships provides benefits in risk diversification and inflation targeting.

Keywords: crude oil, dynamic conditional correlation, exchange rates, interdependence, stock prices

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Authors: Maryam Maleki, Esther Mead, Mohammad Arani, Nitin Agarwal

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This study is conducted to examine how opposing viewpoints related to COVID-19 were diffused on Twitter. To accomplish this, six datasets using two epidemiological models, SIR (Susceptible, Infected, Recovered) and SEIZ (Susceptible, Exposed, Infected, Skeptics), were analyzed. The six datasets were chosen because they represent opposing viewpoints on the COVID-19 pandemic. Three of the datasets contain anti-subject hashtags, while the other three contain pro-subject hashtags. The time frame for all datasets is three years, starting from January 2020 to December 2022. The findings revealed that while both models were effective in evaluating the propagation trends of these polarizing viewpoints, the SEIZ model was more accurate with a relatively lower error rate (6.7%) compared to the SIR model (17.3%). Additionally, the relative error for both models was lower for anti-subject hashtags compared to pro-subject hashtags. By leveraging epidemiological models, insights into the propagation trends of polarizing viewpoints on Twitter were gained. This study paves the way for the development of methods to prevent the spread of ideas that lack scientific evidence while promoting the dissemination of scientifically backed ideas.

Keywords: mathematical modeling, epidemiological model, seiz model, sir model, covid-19, twitter, social network analysis, social contagion

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Authors: Jitendra Aswani

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In the first section of this study, impact of Global Financial Crisis (GFC) on the synchronization of fourteen Asian Stock Markets (ASM’s) of countries like Hong Kong, India, Thailand, Singapore, Taiwan, Pakistan, Bangladesh, South Korea, Malaysia, Indonesia, Japan, China, Philippines and Sri Lanka, has been analysed using the network science and its metrics like degree of node, clustering coefficient and network density. Then in the second section of this study by introducing the US stock market in existing network and developing a Minimum Spanning Tree (MST) spread of crisis from the US stock market to Asian Stock Markets (ASM) has been explained. Data used for this study is adjusted the closing price of these indices from 6th January, 2000 to 15th September, 2013 which further divided into three sub-periods: Pre, during and post-crisis. Using network analysis, it is found that Asian stock markets become more interdependent during the crisis than pre and post crisis, and also Hong Kong, India, South Korea and Japan are systemic important stock markets in the Asian region. Therefore, failure or shock to any of these systemic important stock markets can cause contagion to another stock market of this region. This study is useful for global investors’ in portfolio management especially during the crisis period and also for policy makers in formulating the financial regulation norms by knowing the connections between the stock markets and how the system of these stock markets changes in crisis period and after that.

Keywords: global financial crisis, Asian stock markets, network science, Kruskal algorithm

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Authors: Doddy T. P. Enggarsyah, Soebowo Musa

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Covid-19 pandemic has changed business environments and has spread economic contagion rapidly, as the stringent lockdowns and social distancing, which were initially intended to cut off the spread, have instead cut off the flow of economies. With no existing experience or playbook to deal with such a crisis, the prolonged pandemic can lead to bankruptcies, despite the fact that there are cases of companies that are not only able to survive but also to increase sales and create more jobs amid the economic crisis. This quantitative research study clarifies conflicting findings on organizational inertia whether it is a better strategy to implement during a disruptive environment. 316 respondents who worked in diverse firms operating in various industry types in Indonesia have completed the survey with a response rate of 63.2%. Further, this study clarifies the roles and relationships between organizational inertia, organizational creativity, organizational agility, and organizational resilience that potentially have determinants factors on firm performance in a disruptive environment. The findings of the study confirm that the organizational inertia of the firm will set up strong protection on the organization's fundamental orientation, which eventually will confine organizations to build adequate creative and adaptability responses—such fundamental orientation built from path dependency along with past success and prolonged firm performance. Organizational inertia acts like a control mechanism to ensure the adequacy of the given responses. The term adequate is important, as being overly creative during a disruptive environment may have a contradictory result since it can burden the firm performance. During a disruptive environment, organizations will limit creativity by focusing more on creativity that supports the resilience and new technology adoption will be limited since the cost of learning and implementation are perceived as greater than the potential gains. The optimal path towards firm performance is gained through organizational resilience, as in a disruptive environment, the survival of the organization takes precedence over firm performance.

Keywords: disruptive environment, organizational agility, organizational creativity, organizational inertia, organizational resilience

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Authors: Sonja Gedde

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Collective effervescence, a sociological concept coined by Emile Durkheim, has gained traction in recent literature, particularly when evaluating post-pandemic social interactions. Referring to the affective arousal experienced by members of a group engaged in a shared purpose, it describes the feelings of energy, synchrony, and the somatic responses made possible when an individual moves literally or metaphorically alongside others in a mutually satisfying endeavor. In the field of Education, professional learning meetings serve as an example of instances where groups of educators join in cadence, moving toward a common intellectual goal. However, educators often experience reservation toward professional development, citing it may lack effectiveness. Rather than supporting emotional closeness and building rapport, school-based professional learning may become a dreaded or obligatory experience. This study seeks to equip educational leaders with the tools necessary to shift professional learning efficacy by utilizing principles of collective effervescence as a framework. Through this study, a grounded theory approach spanning a nine-month period was engaged with a secondary school teaching staff of approximately 130 teachers. Experiences with and attitudes toward professional learning were gauged through observation, surveys, interviews, and a review of school communications. The data revealed five hallmarks of collective effervescence, which introduce potential parallel equivalents related to professional learning. Following this revelation, a concerted shift in the design and implementation of professional learning was undertaken and again tracked through observation, survey, and interviews. The co-regulation experienced by staff after the program revision reinforced a sense of connection and inspiration that had long been absent, which, in turn, generated a collection of positive somatic and affective responses described as “palpable.” By encouraging educational leaders to predicate professional learning programs in the hallmarks of collective effervescence, the value of professional learning is underscored, leading to improved teaching practices, enhanced student learning outcomes, and increased job satisfaction.

Keywords: andragogy, emotional contagion, initiative fatigue, joy, professional learning, shared experience, social integration, transcendence of self

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Authors: İlhami Karahanoglu, Oguz Ceylan

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As its well-known definitions; systemic risk refers to whole economic system down-turn movement even collapse together in very severe cases. In fact, it points out the contagion effects of the defaults. Such a risk is can be depicted with the famous Chinese game of falling domino stones. During and after the Bear & Sterns and Lehman Brothers cases, it was well understood that there is a very strong effect of systemic risk in financial services sector. In this study, we concentrate on the existence of systemic risk in Turkish Banking Sector based upon the Halkbank Case during the end month of 2013; there was a political turmoil in Turkey in which the close relatives of the upper politicians were involved in illegal trading activities. In that operation, the CEO of Halkbank was also arrested and in investigation, Halkbank was considered as part of such illegal actions. That operation had an impact on Halkbanks stock value. The Halkbank stock value during that time interval decreased remarkably, the distributional profile of stock return changed and became more volatile as well as more skewed. In this study, the daily returns of 5 leading banks in Turkish banking sector were used to obtain 48 return distributions (for each month, 90-days-back stock value returns are used) of 5 banks for the period 12/2011-12/2013 (pre operation period) and 12/2013-12/2015 (post operation period). When those distributions are compared with timely manner, interestingly; the distribution of the 5 other leading banks in Turkey, public or private, had also distribution profiles which was different from the past 2011-2013 period just like Halkbank. Those 5 big banks, whose stock values are monitored with sub index in Istanbul stock exchange (BIST) as BN10, had more skewed distribution just following the Halkbank stock return movement during the post operation period, with lover mean value and as well higher volatility. In addition, the correlation between the stock value return distributions of the leading banks after Halkbank case, where the returns are more skewed to the left, increased (which is measured in monthly base before and after the operation). The dependence between those banks was stronger under the case where the stock values were falling compared with the normal market condition. Such distributional effect of stock returns between the leading banks in Turkey, which is valid for down sub-market (financial/banking sector) condition, can be evaluated as an evidence for the existence of contagious effect and systemic risk.

Keywords: financial risk, systemic risk, banking sector, return distribution, dependency structure

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Authors: Lisa C. Wan

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To address customers’ safety concerns, more and more hospitality companies are using service robots to provide contactless services. For many companies, the switch from human employees to service robots to lower the contagion risk during and after the pandemic may be permanent. The market size for hospitality service robots is estimated to reach US$3,083 million by 2030, registering a CAGR of 25.5% from 2021 to 2030. While service robots may effectively reduce interpersonal contacts and health risk, it also eliminates the social interactions desired by customers. A recent survey revealed that more than 60% of Americans feel lonely during the pandemic. People who are traveling can also feel isolated when they are at a hotel far away from home. It is therefore important for the hospitality companies to understand whether and how social robots can remedy deprived social connection not only due to a pandemic but also for a trip away from home in the post-pandemic future. This study complements extant hospitality literature regarding service robots by examining how service robots can forge social connections with customers. The service robots we are concerned with are those that can interact and communicate with humans; we broadly refer to them as social robots. We define a social robot as one that is equipped with interaction capabilities – it can either be one that directly interacts with the consumer or one through which the consumer can interact with other humans. Drawing on the theories of mind perception, we propose that service robots can foster social connectedness and increase the perception of social competence of the robot, but these effects will vary across cultures. By applying theories of mind perception and cultural dimension to the hospitality setting, this study shows that service robots that are equipped with social connection function will receive a more favorable evaluation from the consumers and enhance their intention to visit a hotel. The more favorable reaction to social robots is stronger for collectivists (i.e., Asians) than individualists (i.e., Westerners). To our knowledge, this is among the first studies to investigate the impact of culture on consumer reactions to social robots in the hospitality and tourism context. Moreover, this research extends the literature by examining whether people imbue non-human entities (i.e., telepresence social robots) with social competence. Because social robots that foster social connection with humans are still rare in hospitality and tourism, this aspect is an underexplored research area. Our study is the first to propose that, just like their human counterparts that possess relevant social skills, social robots’ interaction capabilities (e.g., telepresence robots) are used to infer social competence. More studies will be conducted to examine consumer reactions to humanoid (vs. non-humanoid) robot in the hospitality settings to generalize our research findings.

Keywords: service robots, COVID-19, social connection, cultures

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Authors: Ellis Kofi Akwaa-Sekyi, Jordi Moreno Gené

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Managerial actions which negatively profile banks and impair corporate reputation are addressed through effective internal control systems. Disregard for acceptable standards and procedures for granting credit have affected bank loan portfolios and could be cited for the crises in some European countries. The study intends to determine the effectiveness of internal control systems, investigate whether perceived agency problems exist on the part of board members and to establish the relationship between internal controls and credit risk among listed banks in the European Union. Drawing theoretical support from the behavioural compliance and agency theories, about seventeen internal control variables (drawn from the revised COSO framework), bank-specific, country, stock market and macro-economic variables will be involved in the study. A purely quantitative approach will be employed to model internal control variables covering the control environment, risk management, control activities, information and communication and monitoring. Panel data from 2005-2014 on listed banks from 28 European Union countries will be used for the study. Hypotheses will be tested and the Generalized Least Squares (GLS) regression will be run to establish the relationship between dependent and independent variables. The Hausman test will be used to select whether random or fixed effect model will be used. It is expected that listed banks will have sound internal control systems but their effectiveness cannot be confirmed. A perceived agency problem on the part of the board of directors is expected to be confirmed. The study expects significant effect of internal controls on credit risk. The study will uncover another perspective of internal controls as not only an operational risk issue but credit risk too. Banks will be cautious that observing effective internal control systems is an ethical and socially responsible act since the collapse (crisis) of financial institutions as a result of excessive default is a major contagion. This study deviates from the usual primary data approach to measuring internal control variables and rather models internal control variables in a quantitative approach for the panel data. Thus a grey area in approaching the revised COSO framework for internal controls is opened for further research. Most bank failures and crises could be averted if effective internal control systems are religiously adhered to.

Keywords: agency theory, credit risk, internal controls, revised COSO framework

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Authors: Randall Gray Underwood

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Within the past few decades, zombie cinema has evolved from a niche outgrowth of the horror genre into one of the most widely-discussed and thoroughly-analyzed subgenres of film. Rising to international popularity during the 1970s and 1980s following the release of George Romero’s landmark classic, Night of the Living Dead (1968), and its much-imitated sequel, Dawn of the Dead (1978), the zombie genre returned to global screens in full force at the turn of the century following earth-shattering events such as the 9/11 terrorist attacks, America’s subsequent war in the Middle East, environmental pandemics, and the emergence of a divided and disconnected global populace in the age of social media. Indeed, the presence of the zombie in all manner of art and entertainment—movies, literature, television, video games, comic books, and more—has become nothing short of pervasive, engendering a plethora of scholarly writings, books, opinion pieces, and video essays from all manner of academics, cultural commentators, critics, and casual fans, with each espousing their own theories regarding the zombie’s allegorical and symbolic value within global fiction. Consequently, the walking dead of recent years have been variously positioned as fictive manifestations of human fears of societal collapse, environmental contagion, sexually-transmitted disease, primal regression, dwindling population rates, global terrorism, and the foreign “Other”. Less commonly analyzed within film scholarship, however, is the connection between the zombie’s folkloric roots and native African/Haitian spiritual practice; specifically, how this connection impacts the zombie’s presentation in African films by native storytellers versus in similar narratives told from a western perspective. This work will examine the unlikely connections and contrasts inherent the portrayal of the traditional African/Haitian zombie (or zombi, in Haitian French) in the Nollywood film Witchdoctor of the Livingdead (1985, Charles Abi Enonchong) versus its depiction in the early Hollywood films White Zombie (1932, Victor Halperin) and I Walked with a Zombie (1943, Jacques Tourneur), through analysis of each cinemas’ use of the zombie as a visual metaphor for subjugation/slavery, as well as differences in their representation of the the spiritual folklore from which the figure of the zombie originates. Select films from the post-Night of the Living Dead zombie cinema landscape will also warrant brief discussion in relation to Witchdoctor of the Livingdead.

Keywords: Nollywood, Zombie cinema, Horror cinema, Classical Hollywood

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Authors: Safa Ladhari, Alireza Saidi, Phuong Nguyen-Tri

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During health crises, such as COVID-19, using disposable protective equipment (PEs) (masks, gowns, etc.) causes long-term problems, increasing the volume of hazardous waste that must be handled safely and expensively. Therefore, producing textiles for antimicrobial and reusable materials is highly desirable to decrease the use of disposable PEs that should be treated as hazardous waste. In addition, if these items are used regularly in the workplace or for daily activities by the public, they will most likely end up in household waste. Furthermore, they may pose a high risk of contagion to waste collection workers if contaminated. Therefore, to protect the whole population in times of sanitary crisis, it is necessary to equip these materials with tools that make them resilient to the challenges of carrying out daily activities without compromising public health and the environment and without depending on them external technologies and producers. In addition, the materials frequently used for EPs are plastics of petrochemical origin. The subject of the present work is replacing petroplastics with bioplastic since it offers better biodegradability. The chosen polymer is polyhydroxybutyrate (PHB), a family of polyhydroxyalkanoates synthesized by different bacteria. It has similar properties to conventional plastics. However, it is renewable, biocompatible, and has attractive barrier properties compared to other polyesters. These characteristics make it ideal for EP protection applications. The current research topic focuses on the preparation and rapid evaluation of the biological activity of nanotechnology-based antimicrobial agents to treat textile surfaces used for PE. This work will be carried out to provide antibacterial solutions that can be transferred to a workplace application in the fight against short-term biological risks. Three main objectives are proposed during this research topic: 1) the development of suitable methods for the deposition of antibacterial agents on the surface of textiles; 2) the development of a method for measuring the antibacterial activity of the prepared textiles and 3) the study of the biodegradability of the prepared textiles. The studied textile is a non-woven fabric based on a biodegradable polymer manufactured by the electrospinning method. Indeed, nanofibers are increasingly studied due to their unique characteristics, such as high surface-to-volume ratio, improved thermal, mechanical, and electrical properties, and confinement effects. The electrospun film will be surface modified by plasma treatment and then loaded with hybrid antibacterial silver and titanium dioxide nanoparticles by the dip-coating method. This work uses simple methods with emerging technologies to fabricate nanofibers with suitable size and morphology to be used as components for protective equipment. The antibacterial agents generally used are based on silver, zinc, copper, etc. However, to our knowledge, few researchers have used hybrid nanoparticles to ensure antibacterial activity with biodegradable polymers. Also, we will exploit visible light to improve the antibacterial effectiveness of the fabric, which differs from the traditional contact mode of killing bacteria and presents an innovation of active protective equipment. Finally, this work will allow for the innovation of new antibacterial textile materials through a simple and ecological method.

Keywords: protective equipment, antibacterial textile materials, biodegradable polymer, electrospinning, hybrid antibacterial nanoparticles

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Authors: Fatima Saeed, Abdullah Mudassar

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Introduction: Patient safety remains a global priority in the ever-evolving healthcare landscape. At the forefront of this endeavor are the International Patient Safety Goals (IPSGs), a standardized framework designed to mitigate risks and elevate the quality of care. Doctors, positioned as primary caregivers, wield a pivotal role in upholding and adhering to IPSGs, underscoring the critical significance of their knowledge and understanding of these goals. This research embarks on a comprehensive exploration into the depth of Doctors ' comprehension of IPSGs, aiming to unearth potential gaps and provide insights for targeted educational interventions. Established by influential healthcare bodies, including the World Health Organization (WHO), IPSGs represent a universally applicable set of objectives spanning crucial domains such as medication safety, infection control, surgical site safety, and patient identification. Adherence to these goals has exhibited substantial reductions in adverse events, fostering an overall enhancement in the quality of care. This study operates on the fundamental premise that an informed Doctors workforce is indispensable for effectively implementing IPSGs. A nuanced understanding of these goals empowers Doctors to identify potential risks, advocate for necessary changes, and actively contribute to a safety-centric culture within healthcare institutions. Despite the acknowledged importance of IPSGs, there is a growing concern that nurses may need more knowledge to integrate these goals into their practice seamlessly. Methodology: A Comprehensive research methodology covering study design, setting, duration, sample size determination, sampling technique, and data analysis. It introduces the philosophical framework guiding the research and details material, methods, and the analysis framework. The descriptive quantitative cross-sectional study in teaching care hospitals utilized convenient sampling over six months. Data collection involved written informed consent and questionnaires, analyzed with SPSS version 23, presenting results graphically and descriptively. The chapter ensures a clear understanding of the study's design, execution, and analytical processes. Result: The survey results reveal a substantial distribution across hospitals, with 34.52% in MTIKTH and 65.48% in HMC MTI. There is a notable prevalence of patient safety incidents, emphasizing the significance of adherence to IPSGs. Positive trends are observed, including 77.0% affirming the "time-out" procedure, 81.6% acknowledging effective healthcare provider communication, and high recognition (82.7%) of the purpose of IPSGs to improve patient safety. While the survey reflects a good understanding of IPSGs, areas for improvement are identified, suggesting opportunities for targeted interventions. Discussion: The study underscores the need for tailored care approaches and highlights the bio-socio-cultural context of 'contagion,' suggesting areas for further research amid antimicrobial resistance. Shifting the focus to patient safety practices, the survey chapter provides a detailed overview of results, emphasizing workplace distribution, patient safety incidents, and positive reflections on IPSGs. The findings indicate a positive trend in patient safety practices with areas for improvement, emphasizing the ongoing need for reinforcing safety protocols and cultivating a safety-centric culture in healthcare. Conclusion: In summary, the survey indicates a positive trend in patient safety practices with a good understanding of IPSGs among participants. However, identifying areas for potential improvement suggests opportunities for targeted interventions to enhance patient safety further. Ongoing efforts to reinforce adherence to safety protocols, address identified gaps, and foster a safety culture will contribute to continuous improvements in patient care and outcomes.

Keywords: infection control, international patient safety, patient safety practices, proper medication

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