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Purpose The purpose of this paper is to analyse the adaptive market efficiency in the price–volume (P–V) relationship of the stocks listed in the Mexican Stock Exchange. The period under study goes from 1982 to 2015. In order to detect causality and, thus, determine adaptive efficiency in the market, one linear and two non-linear tests are applied. There are few papers in the literature that study the P–V relationship in Latin American markets; as such, this paper may be of interest and importance to financial academics and practitioners alike. Design/methodology/approach The Diks and Panchenko (DP) non-parametric Granger causality and the Brooks and Hinich (BH) cross-bicorrelation tests are applied. Findings Derived from the DP test, the findings show that there exists bi-directional non-linear Granger causality in 25.71 per cent of the firms studied, compared to 8 per cent when applying the linear Granger causality test. Therefore, there is evidence of weak-form efficiency in the market. From the BH test, evidence is shown of the adaptive market efficiency, since 71.42 per cent of firms exhibited some form of non-linear dependence in certain periods of time. With these results, the information process should be better studied for a greater comprehension of regulatory policies in the market and better decision-making tools for the investors. Originality/value This paper complements studies on the P–V relationship and efficiency in a Latin American market.

In this paper we study the usefulness of the water-energy-food nexus in assessing the sustainability of an economy. All economic activity depends on its surrounding physical environment, and especially on the interconnection between these three essential resources. As a result, the nexus is a useful tool for detecting the economic risk of resource scarcity, optimising investments or resource use, and assessing the effects of economic policies or shocks such as climate change. The nexus approach is also useful for guiding policies towards achieving the United Nations Sustainable Development Goals (SDGs). We show that both the objective of each study and the scale on which it is conducted are factors worth considering when choosing the most suitable research methodology. We detected important challenges relating to the heterogeneity of the methods, scales and variables used, and therefore necessary measures nare suggested in order to homogenise the studies for their comparability and/or integration, both horizontally and vertically, or over time. Graphical abstract