prefix: doi.org/10.52283/1.ajbmr |
Volume :7 Issue :02 Year : 2023
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NEW CONTINUUM OF OPTIONS VOLATILITY SMILE; Modification, Verification and Its Application
►Khuram Shafi
drkhuramshafi@ciitwah.edu.pk
https://orcid.org/0000-0002-2475-7644
►Shafqat Ali Shad
►Natasha Latif
►Zahra Idrees
►Muhammad Saqib Bashir Butt
Received: 19 Oct, 2022
Final Revision: 28 January, 2023
Accepted: 01 February, 2023
e Published: 19 June, 2023
doi.org/10.52283/NSWRCA.AJBMR.20220702A01
ABSTRACTThis functional exploration inspects the instability smile patters and its determinants for file choices. To survey the determinants that cause the grin design, we utilized Dumas et al. (1998) equation which gave us the best fitted suggested instability. So, it tends to be utilized in three distinct models, for example, Black et al. (1973), Heston (1993) and the MSV model to concentrate on the grin shape. This paper means to summing up the various methodologies in deciding the suggested unpredictability for the choices. Considering point-by-point writing on the guess strategies, a mathematical methodology is made sense of. This paper gives a survey of: (1) the improvement of the choice estimating model by Black et al. (1973), and the resulting changes of this model after 1987 (2) the experimental confirmation of each of the three models; and (3) uses of these models to really look at the examples of grin among various business sectors. We infer that there exists a positive connection between suggested instability and cash ness and the unpredictability grin is less lopsided for call choices. Likewise, the chance to termination for a choice and authentic unpredictability are the significant determinant.Keywords: Volatility Smile, option pricing, 1987 crash, implied volatility-
VALUE AND WILLINGNESS-TO-PAY (WTP) HIGH PRICE: Mediating Role of Herbal Brand Credibility and Word-of-Mouth in Ghana
►Peter Kwasi Oppong
►Wilberforce Owusu Ansah
►Justice Boateng Dankwah
►Joseph Owusu
Received: 15 September, 2022
Final Revision: 01 October, 2023
Accepted: 01 February, 2023
e Published: 07 July, 2023
ABSTRACTThe role of perceived value, brand credibility and word-of-mouth endorsement in supporting customers` behavioural intentions to pay a high price has gained much attention lately in the marketing literature. However, studies on the impact of perceived value on customers` intention to pay a high price via the intervening role of brand credibility and word-of-mouth endorsement are relatively scarce in the literature. Consequently, this research goal was to assess the impact of customer value (as a high-order variable) on intentions to pay a high price through the intervening role of brand credibility and word-of-mouth endorsement in the herbal industry in Ghana. Through a systematic sampling procedure, 265 samples of customers in the herbal market provided data for this research. Structural equation modelling was employed to quantitatively analysed the hypotheses proposed in the research. The results show that all the social value, emotional value, perceived quality and value for money are dimensions of perceived value. Again, it was also established that brand credibility plays a partial role in the influence of perceived value on word-of-mouth endorsement and intentions to pay more. Likewise, word-of-mouth endorsement was found to partially contributes to supporting the relationship between brand credibility and intentions to pay more in the herbal market. The paper, therefore, established that the contribution of brand credibility and word-of-mouth endorsement is critical when building perceived value (social value, emotional value, quality and value for money) to reinforce customers` intentions to pay a high price in the herbal industry.Keywords: Herbal Industry, Value, Credibility, Word-of-Mouth, WTP a High Price-
PERFORMANCE OF MUTUAL FUNDS ON SUSTAINABLE MICRO-HEALTH INSURANCE SCHEMES IN GHANA: The Role of Fast Adaptive Neural Network Classifier
►Patrick Boateng Sarpong
►Eric Kofi Avornu
►Helen Fiati
►Albert Bediako
Received: 19 Oct, 2022
Final Revision: 28 January, 2023
Accepted: 01 February, 2023
e Published: 07 July, 2023
ABSTRACTMicro-health insurance models have emerged (in different forms) as a more reliable source of seeking financial protection for a significant proportion of Ghanaians against the downside of medical cost. Most micro-health insurance contributions end up with mutual funds hence the performance of the mutual fund determines to a large extent the sustainability of the scheme. This makes the mutual fund market an indispensable factor in stimulating or stifling healthcare access in Ghana with health equity implications. Recently, machine learning performance evaluation approaches such as Artificial Neural Networks (ANN) have proven valuable in evaluating the performance of mutual funds due to superior forecasting and calculating abilities relative to native algorithms. We applied a novel Fast Adaptive Neural Network Classifier (FANNC) to publicly available historical financial performance data from the Ghana Stock Exchange. We benchmarked our results against the outcome of a backpropagation neural network model (BPN) and measured speed of processing performance information for micro-health insurance managers looking for high earning but less risky investment destination for their vulnerable funds. The FANNC tool proved superior in terms of prediction error and processing time to existing robust models such as the Backpropagation neural network. Employing effective tools such as FANNC tools can quicken the pace of investment performance assessment, rank a hierarchy of desirable investment options for micro-health insurance schemes to explore. This can guarantee fast processing time and accurate investment decision of micro-health insurance to enable it play the essential role of enhancing health risk management of the members of the general public especially the poor and vulnerable that are often the victims of catastrophic healthcare expenditure.Keywords: Performance, Micro Health Fast Adaptive, Neural Network Classifier, Mutual fund, Ghana.-
IMPACT OF DEBT FINANCING ON FINANCIAL PERFORMANCE OF FIRMS: A Systematic Literature Review
►Subhi
►Priti Sharma
Received: 02 June, 2022
Final Revision: 28 June, 2023
Accepted: 07 July, 2023
e Published: 09 September, 2023
AbstractDebt financing is a major aspect of capital structure which represents the borrowed portion of funds hoisted through external funding. Debt plays a noteworthy role in persuading the fiscal performance of any organization because it creates a continuous pressure of making interest payment along with principal amount. Present study aims to discover the efficacy of debt financing on financial performance of the organization and it’s purely depends upon the findings of previous related literatures. For this purpose, Web of Science and SCOPUS database has been taken as base to collect the required information while it includes documents of all time spans available, from 1985 to 2022, in database. After gathering the data, a systematic literature review has been performed and encountered that debt indicators have a significant negative impact on indicators of financial performance. Long-term debt, total debt, debt-equity ratio has significant but negative impact on firm performance which support the upshots of ‘pecking-order’ theory. Short-term debt has mixed effect on performance indicators. Control variables have also been evaluated like age, size, tangibility, liquidity, corporate tax, growth opportunities etc. and discovered that size, growth and liquidity portray a positive impression while age and tangibility have negative efficacy on monetary performance of the concern. Also, the study can be used as a ground to identify the literature gap of the concept and can be used in future for further research.Keywords: Debt financing, financial leverage, capital structure, financial performance, profitability.
JEL CLASSIFICATION CODES : G30, G32, L25.
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