COVID-19 uncertainty, pandemic management strategy, management control and public health performance

Purpose: Although the use of management control systems (MCS) in crisis management has received extensive attention, limited knowledge exists regarding the benefits of the broad scope, timeliness, integration and aggregation dimensions. This study aims at examining the performance implications of the context-structure combinations of pandemic management strategy (PMS), MCS use and pandemic-induced uncertainty of public health institutions (PHIs) in Ghana. Design/methodology/approach: Data were collected using online survey questionnaire where 246 public health managers qualified for the study. Data were analyzed using covariance-based structural equations modeling (version 23). Findings: PMS was found to have a significant and positive impact on three (broad scope, timeliness and aggregation) of the four dimensions. The integrated dimension was statistically insignificant. In addition, the three dimensions had a significant impact on top managers' satisfaction with MCS use, which in turn impact on cost containment and quality of care. Finally, COVID-19 uncertainty moderated the relationship between MCS use and operational performance. Practical implications: The three dimensions of broad scope, timeliness and aggregation are critical for PHIs when it comes to crisis management. Moreover, the presence of pandemics strengthens the relationship between top manager use of MCS and performance in health care. More sophisticated MCS information is required when managing pandemic-related crisis by PHIs. Originality/value: This study presents a theoretical framework that integrates PMS, MCS use and performance of public health care from a contingency perspective. It extends the benefits of contingency theory to include the three dimensions of MCS with respect to crisis management. © 2023, Emerald Publishing Limited.

Breakpoints and Black Boxes: Information in Global Supply Chains

Supply chain management (SCM) deals with the procurement and assembly of goods, from raw material to the consumer. With the growing prevalence of offshore manufacturing and suppliers' reliance on "just-in-time" inventory management, SCM has become both astoundingly complex and critical to companies' competitiveness. This essay examines how data works in global supply chains, focusing on SAP SCM, the huge but hard-to-access SCM software with the greatest market share. It argues that SCM is characterized by two countervailing tendencies: the demand for perfect information about goods and movement, and the need to erect strategic barriers to the fullest knowledge about supply chains. Counterintuitively, this selective obscurantism is what makes supply chains so fast and efficient.

Asymmetric effects of economic policy uncertainty on Bitcoin's hedging power

PurposeEven though Bitcoin has been often labelled as a safe haven asset class in the literature, the influence of economic policy uncertainty (EPU) on the diversifying opportunities offered by Bitcoin in relation to other assets needs to be investigated. This paper aims to investigate how the EPU affects diversification of commodity, conventional, Islamic and sustainable equity returns in relation to its impact on Bitcoin returns.Design/methodology/approachThe authors use advanced time-series econometrics, namely, multivariate generalized autoregressive conditional heteroscedastic-dynamic conditional correlation and continuous wavelet transformation, for the analysis of the daily returns for the aforementioned assets between 01 August 2011 and 01 September 2019.FindingsFirst, the authors found a strong evidence of Bitcoin's mean reverting trend in the long run while its volatility has decreased significantly since 2013. After separating the EPU into two regimes (high and low), diversification opportunities with Bitcoin seems to disappear in a high EPU period, while the hedging opportunity tends to prevail in a low EPU period for all classes of assets. Importantly, the findings indicate that Bitcoin offers short-term diversification for sustainable and Islamic equity as well as energy stocks during a low uncertainty period. Consequently, in relation to the policy uncertainty, Bitcoin provides similar hedging opportunities than commodities like Gold and Silver. Overall, the study shows that EPU is remarkably important in explaining the average portfolio returns of Bitcoin, suggesting that this indicator can be perceived as a decent explanatory factor for portfolio diversification.Originality/valueThe study significantly extends the empirical literature of Bitcoin's portfolio diversification by taking EPU into consideration. To the best of authors' knowledge, this is one of the few studies to investigate the asymmetric effects of US EPU on Bitcoin's hedging capabilities by taking into account major conventional equity, sustainable equity, Islamic equity, gold, silver and oil.

China-Australia Relations and China's Policy Choices toward Australia: A Chinese Perspective

Since 2016, Australia's attitude toward China has taken a turn for the worse, and Sino-Australian relations have seen a significant decline. With regard to the change in Australia's attitude toward China, Chinese scholars initially analyzed it mainly from the perspective of the U.S.Australia alliance and the China-U.S.-Australia triangle, viewing U.S. influence as the key reason for the change in Australia's policy toward China. Later, Chinese scholars have become increasingly aware of the significant policy autonomy in Australia's China policy and the inadequacy of viewing Australia's China policy from the U.S. perspective. On the one hand, Australia's unique threat perception and interest perception have shaped the characteristics of its China policy;on the other hand, how to effectively balance security interests and economic interests is a long-standing dilemma faced by Australia under the strategic competition between China and the U.S. The Australian government has shown a degree of policy flexibility in its approach. The limited coercive economic measures taken by China against Australia have sent clear policy signals to Australia and have become a factor influencing its policy towards China. In the coming period, although no obvious opportunity for improvement in China-Australia relations is in sight, both sides may be more prudent and pragmatic strategically, and China-Australia relations can be expected to remain basically stable at a low level.

The Interconnectedness between COVID-19 Uncertainty and Stock Market Returns in Selected ASEAN Countries

This paper examines the interconnectedness between the COVID-19 uncertainty index and stock returns in selected ASEAN countries. Results from the study, which uses the dynamic connectedness approach, show that on average, 47.06% of a shock on one index spills over to all other indices. This indicates that stock market returns are highly interconnected to the COVID-19 uncertainty index in ASEAN countries. However, the COVID-19 uncertainty index is not a predictor of stock returns in the ASEAN countries chosen for the study.

Revisiting the impact of foreign portfolio investment on stock market performance during COVID-19 pandemic uncertainty: Evidence from India.

This paper re-examines the causality between stock returns and foreign portfolio investment (FPI) flows in the Indian context during the COVID-19 pandemic. Using the Covid-19 index constructed by Narayan et al. [19] and the Toda and Yamamoto Granger causality test, the study reveals that bi-directional causality runs from FPI flows to stock returns in the early period of the Covid-19 pandemic. Whereas after the peak of the pandemic, there is a unidirectional causality that runs from FPI flows to stock returns.•Bi-directional causality runs from FPI flows to stock return during the initial period of COVID.•In the second period, unidirectional causality runs from FPI flows to stock returns.

The effect of COVID-19 uncertainty on internet addiction, happiness and life satisfaction in adolescents.

This study aimed to determine the effects of the events during the COVID-19 epidemic on adolescents' levels of intolerance of uncertainty, internet addiction, happiness, and life satisfaction. Structural Equation Modeling was used in the analysis of the data. Adolescents' internet use increased during the epidemic process. It was found that COVID-19 events increased intolerance of uncertainty, and negatively affected internet addiction and happiness (p < 0.001). In this process, internet addiction and happiness is a mediator (p < 0.001). It is recommended to monitor adolescents' internet use during the COVID-19 process and to provide information about COVID-19.

COVID-19: A time of heightened uncertainty for cancer patients and increased need for psychosocial support

Cancer patients face enormous levels of uncertainty in a high stakes setting. The COVID-19 pandemic has accentuated this vulnerable state and disrupted the lives of many patients. By understanding how cancer patients are affected by the pandemic, we can begin to find ways of reinforcing best practices, fostering community, and providing needed support for the foreseeable future. (PsycInfo Database Record (c) 2021 APA, all rights reserved)

Pandemic Uncertainty and Socially Responsible Investments.

This paper examines the effects of pandemic uncertainty on socially responsible investments. We use the overall corporate sustainability performance index in the Global-100 Most Sustainable Corporations in the World dataset to measure socially responsible investments. The global pandemic uncertainty is also measured by the World Pandemic Uncertainty Index. We focus on the panel dataset from 2012 to 2020, and the results show that the World Pandemic Uncertainty Index is positively related to socially responsible investments. The main findings remain significant when we utilize various panel estimation techniques.

Determinants of the Fiscal Support of Governments in Response to the COVID-19 Pandemic.

Fiscal support measures have different implications for public finances in the near term and beyond the COVID-19 pandemic. For this purpose, this paper examines the determinants of governments' fiscal support in response to the COVID-19 pandemic. The empirical analysis is based on the cross-sectional data estimations from 129 developed and developing countries. The estimation results indicate that a higher level of uncertainty related to COVID-19 (measured by the World Pandemic Uncertainty Indices) is positively related to fiscal support. Besides, countries with a higher total population and population over 65 years and older provide higher fiscal support. These results are valid when considering the developed countries separately. Policy implications for public finances during the COVID-19 pandemic are also discussed.