Asymmetric Causal Relations Between COVID-19 Economic Supports and Real Estate Price Shocks

The goal of this study is to examine the nature of causal relations between COVID-19 related economic supports and real estate shocks in 58 countries over the period of January 1, 2020 and September 3, 2022. To carry out the research, we first decompose the positive and negative shocks of real estate prices for each country. Second, we apply the wavelet transformation to real estate price index shocks and Oxford COVID-19 Government Response Economic Support Index by using a discrete wavelet transform. Finally, we employ the fractional frequency flexible Fourier form Toda-Yamamoto causality test to obtain the causal relations. The results of the study show that in most countries, COVID-19 economic supports have causal effects on real estate prices. Real estate market reactions differ across different time periods. Most of the asymmetric responses of the market takes place in the medium-and long-term. Our results may provide valuable insights for policymakers to develop appropriate housing policies to create an environment for a stable real estate market and enhance price stability when monitoring real estate market developments. © 2022, Global Social Science Institute. All rights reserved.

Tackling false advertising and strengthening consumer protection in emerging economies

False advertising has many negative consequences for the protection of consumer rights and wellbeing. In emerging economies in particular, false advertising has been widespread across business sectors and products due to inadequate public policy and ineffective law enforcement. Since the COVID-19 global pandemic has spread around the world, people have become more dependent on e-commerce for purchasing goods and services, and the negative impact has become historically high with increasing number of advertising and sales cyber-fakes However, prior studies have not focused on consumers' perceived deception and information asymmetry in false advertising in general, and the consequent implications for public policy in controlling and eliminating such problems, specifically in emerging economies. This study focuses on the example of China as a leading emerging economy to investigate the relevant issues and contribute to extant knowledge by linking separate paradigms with a new holistic conceptual framework that identifies the key elements of contextual factors, consumers' perceived deception and information asymmetry, the causes and impacts, and the expected policy implications for further prevention.

RESILIENT LEADERSHIP. QUALITATIVE STUDY ON FACTORS INFLUENCING ORGANIZATIONAL RESILIENCE AND ADAPTIVE RESPONSE TO ADVERSITY

Given the turbulent environment that governments and citizens across the globe faced in the last two years (due to the COVID-19 pandemic), one concept seems to stand out as extremely valuable in this context: resilience. Resilience, understood as the capacity of a system to bounce back from adversity, becomes a key component in the equation of post-pandemic evolution and recovery. Resilient leadership is just one of the multiple derived applications of the general resilience concept, referring (in an institutional setting) to the capacity of leaders to turn out positive results despite adverse conditions. Based on qualitative research consisting of 10 interviews conducted with women leaders (from the private and nonprofit sectors) during the last 18 months, our results show that governmental response (regulation and support) and financial pressures have been the major organizational challenges no matter the sector, while organizational dimension seems to have an influence on the capacity to adapt and respond to adversity. Gender does not seem to play a role in the response provided to the crisis.