Dynamic volatility spillover between oil and marine shipping industry

Oil consumption not only makes up a large percentage of the overall operating expenses for the marine shipping industry, besides that, the tanker sector is a major carrier of global oil supply, which magnifies the relevance of oil market for the shipping industry. In this backdrop, the following study examines the volatility transmission between marine shipping industry's tanker and dry cargo market and oil market using daily data from May 2006 to August 2021 by employing spillover index methodology. The empirical results suggest pronounced spillovers for the tanker market while lower spillovers are observed for dry cargo market, indicating the well-integrated tanker market in comparison to dry cargo sector and oil market. The volatility in oil prices contributed higher spillovers in the tanker market, and remained a net contributor. The volatility in oil prices is a significant source of the volatility transmission during periods of the sudden drop in oil prices coupled with the higher volatility in oil market, and is a net receiver during stable periods. The period of higher spillovers lasts longer for the tanker sector as compared to dry cargo sector. In the particular case of dry cargo market, the smaller (larger) the size of the vessels, the greater (lower) are the spillovers observed (From and To). Hedging turns out be irrelevant during turmoil periods, as the comovement between shipping and oil market becomes stronger. The spillovers are pronounced during the period of financial crisis, COVID-19 and 2014–2016, owing to the significant fluctuations in oil prices and a troubled period for marine shipping industry. © 2023 The Author(s)

A new multivariate transmuted family of distributions: theory and application for modelling of daily world COVID-19 cases

Multivariate distributions are helpful in the simultaneous modeling of several dependent random variables. The development of a unique multivariate distribution has been a difficult task and different multivariate versions of the same distribution are available. The need is, therefore, to suggest a method of obtaining a multivariate distribution from the univariate marginals. In this paper, we have proposed a new method of generating the multivariate families of distributions when information on univariate marginals is available. Specifically, we have proposed a multivariate family of distributions which provides a univariate transmuted family of distributions as marginal. The proposed family is a re-parameterization of the Cambanis (1977) family. Some properties of the proposed family of distributions have been studied. These properties include marginal and joint marginal distributions, conditional distributions, and marginal and conditional moments. We have also obtained the dependence measures alongside the maximum likelihood estimation of the parameters. The proposed multivariate family of distributions is studied for the Weibull baseline distributions giving rise to the multivariate transmuted Weibull (MTW) distribution. Real data application of the proposed MTW distribution is given in the context of modeling the daily COVID-19 cases of the World. It is observed that the proposed MTW distribution is a suitable fit for the joint modeling of the COVID-19 data. © 2022, National Science Foundation. All rights reserved.

Human capital, innovation and disruptive digital technology: A multidimensional perspective

Human capital appears to be at the core of business strategies helping firms to recover from the catastrophic effects of COVID19 and bounce back effectively. The book in hand provides a diverse view of the human capital, its multifaceted role and application in an organization. The book also offers a comprehensive analysis on the role of human capital in industry 4.0, firm internationalization, and organizational ambidexterity and outlines strategies for the firm to improve its human capital readiness, keeping in view the contemporary business dynamics. A very simple and focused approach has been adopted through the book to make it readable for the people from the diverse fields. The book also focuses upon the conceptualizations and measurements of human capital in order to offer conceptual clarity of human capital to readers. A central focus of the book is how human capital interacts with and complements other organizational resources and technological developments. The book will be extremely useful for top-tier managers, researchers, academicians, consultants, and practitioners interested in gaining a current, relevant, and diverse perspective on human capital, its dimensions, and development. © All rights reserved.

The Wealth of Nations during the Pandemic: The Vaccine Equity

Aggressive global dissemination of the coronavirus indicated the urgency of the development of vaccines at an unprecedented rate and scale. The limited production and short supply of vaccines which were reserved mostly for the advanced economies were the greatest problems of 2021. For emerging economies, this timeline will stretch to late 2022 or early 2023. As a part of systematic immunization programs, the development, licensing, and implementation of the vaccines against the Covid-19 virus started to address health service inequalities among countries. While on one hand vaccination is regarded to be one of the most cost-effective interventions in public health during the pandemic, on the other hand, the introduction and sustainable supply of vaccines needed to be supported and ensured by decision-makers and governments. Due to the weak economic conditions of developing countries, they could not provide enough financial and health support to their citizens during this period. However, since the global GDP loss from not inoculating all countries is higher than the cost of manufacturing and distributing vaccines globally, there has been a growing demand to international cooperation to have global vaccination without omitting any countries. This paper focuses on the economic and social costs and benefits of vaccinations during the Covid-19 pandemic period in advanced, middle, and low-income countries. Accordingly, macroeconomic and social impacts of vaccination will be discussed and some policy suggestions will be put forth to get more benefits from the vaccination both for economic and health outcomes.

An Investigation of the Educational Challenges during COVID-19: A Case Study of Saudi Students' Experience

The outbreak of Coronavirus disease (COVID-19) has shaken the world, forcing countries to implement a state of emergency, including the education system. Students have been forced to remain in hostels or houses since they cannot get to university campuses. As a result of this predicament, university authorities have no option but to implement an online learning environment. Specifically, Saudi universities have faced numerous difficulties in bringing the online learning systems to continue the educational process. On the other hand, students faced difficulties to cope with such circumstances (complete online learning) without any preparation or backup plan. According to the findings of the literature research, students experienced difficulties that were difficult to overcome. The aim of this study was to determine the challenges that first-year students of the University faced. The present research got a total of 234 valid responses from the participants. The findings indicate that respondents were not fully prepared in this situation in terms of physical, environmental, and psychological readiness, with some variances in viewpoints depending on their gender and age. Respondents expressed concern about the effect of lockdown on their ability to perform well academically. In this study, the researchers found that switching suddenly to an all-online alternative cause significant obstacles for students. It was determined that the present blended learning model, which utilizes online learning to support face-to-face instruction, has encountered a critical challenge when it comes towards replacing it, particularly with underprepared learners. © 2022 The Author(s).

Differential impacts of the US–China trade war and the outbreak of COVID-19 on Chinese air quality

Purpose: Over the last couple of years, the Chinese manufacturing sector was affected by the onset of the US–China trade war and the outbreak of coronavirus disease 2019 (COVID-19). In such a scenario air quality in China has encountered a shock, and the impacts of these two incidents are unknown. In this study, the authors analyze the convergence of air quality in China in the presence of multiple structural breaks and how the impacts of these two events are different from each other. Design/methodology/approach: In order to assess the nature of shocks in the presence of multiple structural breaks, unit root tests with multiple structural breaks are employed. Findings: The results reveal that air quality in China is showing the sign of convergence, and it is consistent across 18 provinces which are worst hit by the outbreak of COVID-19. In the presence of transitory shocks, the impact of COVID-19 outbreak is found to be higher, whereas the impact of the US–China trade war is found to be more persistent. Lastly, the outbreak of COVID-19 has been found to have more impact on pollutants with higher severity of health hazard. Originality/value: To the best of the authors’ knowledge, this is the first study that contributes to the empirical literature in terms of investigating the convergence of overall air pollution and individual air pollutants taking COVID-19 and the trade war into account. © 2021, Emerald Publishing Limited.

Can HbA1c levels be used as an independent marker of mortality and morbidity risk in patients with COVID-19 positive swabs?

Background: Diabetes mellitus has been considered a significant risk factor for morbidity and mortality for COVID-19.1 HbA1c levels are often used as a marker of poor glycaemic control and are one way of diagnosing pre-diabetes as well as diabetes.2,3 We tried to explore whether HbA1c levels could be an independent risk factor for mortality and morbidity in patients with positive coronavirus (SARS-COv-2) swabs. Methods: This was a retrospective multicentre study of coronavirus swab positive patients who had a recent HbA1c test. Their demographic data, medical history, COVID-19 swab and laboratory results, and final outcomes were analysed. Patients were divided into three groups;HbA1c in normal (group 1), pre-diabetic (group 2) and diabetic (group 3) ranges. Data were analysed using JASP and statistical computation using a χ2 test. Results: A total of 1,226 patients had SARS-CoV-2 RNA identification swabs between 10 February 2020 and 1 May 2020. A cohort of 120 of these patients had positive swab results and recent HbA1c results. Mortality rates for group 1 (normal HbA1c) and 3 (diabetic HbA1c) were relatively higher than group 2 (pre-diabetic HbA1c). Among group 2, female patients had greater mortality, perhaps because of fewer male patients, although overall co-morbidity was less (4/120 (3.33%) in group 2 compared with 18/120 (15%) in group 1 and 14/120 (11.66%) in group 3. Overall, 36/120 (30%) patients died and 84/120 (70%) survived. Survival curves after analysis of data showed that increasing HbA1c levels were associated with poorer outcomes across all groups. Analysis was significant with p=0.003. Conclusions: HbA1c levels in this study were an independent marker of increased risk of mortality in COVID-19 swab positive patients. The findings are statistically significant (p=0.003). Increased co-morbidities at normal HbA1c seem to have a contributing role in enhanced mortality.

A Comparative Study on Ivermectin-Doxycycline and Hydroxychloroquine-Azithromycin Therapy on COVID-19 Patients

Objectives: We investigated the outcomes of Ivermectin-Doxycycline vs. Hydroxychloroquine-Azithromycin combination therapy in mild to moderate COVID19 patients. Methods: Patients were divided randomly into two groups: Ivermectin 200 mu gm/kg single dose + Doxycycline 100mg BID for ten days in group A, and Hydroxychloroquine 400mg for the first day, then 200mg BID for nine days + Azithromycin 500mg daily for five days in group B (Control group). RT-PCR for SARS-CoV-2 infection was repeated in all symptomatic patients on the second day onward without symptoms. Repeat PCR was done every two days onward if the result found positive. Time to the negative PCR and symptomatic recovery was measured for each group. Results: All subjects in Group A reached a negative PCR, at a mean of 8.93 days, and reached symptomatic recovery, at a mean of 5.93 days, with 55.10% symptom-free by the fifth day. In group B, 96.36% reached a negative PCR at a mean of 9.33 days and were symptoms-free at 6.99 days. In group A 31.67% of patients expressed symptoms caused by medication, this was 46.43% in group B. Conclusion: The combination therapy of Ivermectin-Doxycycline showed a trend towards superiority to the combination of Hydroxychloroquine-Azithromycin for mild to moderate COVID19 disease.

Strategic measures for food processing and manufacturing facilities to combat coronavirus pandemic (COVID-19)

Coronavirus pandemic (Covid-19) leaves wide-ranging and catastrophic effects at normal ways of living, has disturbed the global food supply chain, and have a damaging impact on food security as well. Food industry and the government should come together to ensure that the food sector should remain open for consistent and unhindered production of food, so consumers have continued access to safe, healthy, and nutritious food during this pandemic. As the countries combat coronavirus pandemic, the food sector must keep gears of food processing and manufacturing moving on to avoid food shortage in the market. To continue the production and supply of safe food at the sites, the food processing and manufacturing facilities have the same level of health challenges which may pose hurdles to consistently of food production. To prevent such issues and critical situation, the food industry needs to take on specific precautions for site and employees to keep them safe and healthy. By appropriately maintaining the food safety systems and with special consideration to combat coronavirus transmission at premises and among employees can help food facilities to not disrupt the flow of manufactured food products and ingredients including food packaging material. Food facilities should strictly monitor staff health, personnel hygiene, and appropriate use of personnel protective equipment at the site entrance and during working and should adopt restrictive visitor policies including suppliers and contractors. Cleaning and disinfection of frequent and high touch points with approved chemicals and sanitizers with defined frequencies and practicing social distances and employee optimization during shifts can be helpful to prevent the spread of coronavirus. The management should limit their visits to the site and monitor the activities by CCTV cameras and food safety audits can be conducted with the use of remote auditing tools. Finally, the facilities should be vigilant to monitor the temperature of staff, employees and visitors, supplier, or contractor to identify if there may any sick person to avoid further spread of coronavirus and shall report to concerned health authorities if anyone symptoms matching with COVID-19.