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Financ Innov ; 7(1): 34, 2021.
Article in English | MEDLINE | ID: covidwho-1223781


This study examines the hedging effectiveness of financial innovations against crude oil investment risks, both before and during the COVID-19 pandemic. We focus on the non-energy exchange traded funds (ETFs) as proxies for financial innovations given the potential positive correlation between energy variants and crude oil proxies. We employ a multivariate volatility modeling framework that accounts for important statistical features of the non-energy ETFs and oil price series in the computation of optimal weights and optimal hedging ratios. Results show evidence of hedging effectiveness for the financial innovations against oil market risks, with higher hedging performance observed during the pandemic. Overall, we show that sectoral financial innovations provide resilient investment options. Therefore, we propose that including the ETFs in an investment portfolio containing oil could improve risk-adjusted returns, especially in similar financial crisis as witnessed during the pandemic. In essence, our results are useful for investors in the global oil market seeking to maximize risk-adjusted returns when making investment decisions. Moreover, by exploring the role of structural breaks in the multivariate volatility framework, our attempts at establishing robustness for the results reveal that ignoring the same may lead to wrong conclusions about the hedging effectiveness.

Library Philosophy and Practice ; : 1-18, 2020.
Article in English | ProQuest Central | ID: covidwho-863743


Anyira explores the effect of social addiction on reading culture among Nigerian students. Addiction is a psychological and physical inability to stop engaging in an activity, or substance, even though it is causing psychological and physical harm. It is a condition in which one who is addicted could no longer have control over an activity at the expense of more gainful or harmless activity. A person is said to be addicted when he/she becomes dependent on an activity as a lifestyle. Oftentimes, an activity in which one is addicted to is a potential threat to other activities which are more gainful. In this case, social media addiction among students is a potential threat to reading culture in Nigeria. In spite of these numerous benefits, reading culture among students in Nigeria is on the decline. It is common knowledge that a good number of higher institution students have completely lost interest in reading. Faculty members across departments oftentimes lament the outbreak of poor reading habits among their students. Many of these students do not write in class as they are not interested in reading them later. That flair for reading among students is fast fading in an alarming rate.