Compare Value at Risk and Return of Assets Portfolio Stock, Gold, REIT, U.S. &amp; Iran Market Indices

Darabi, Felor Ghorashi - Roya

doi:10.18488/journal.8/2017.5.1/8.1.44.48

Cited by 3 publications

(2 citation statements)

References 7 publications

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“…Gold and securitized real estate are important investment assets for investors (Ghorashi and Darabi, 2017). According to the Savills Report published in 2016, the estimated worth of all developed real estate in the world is about US$217tn which covers residential, commercial, industrial, hospitality developments and agricultural lands.…”

Section: Introductionmentioning

confidence: 99%

Investing in gold or REIT index in Turkey: evidence from global financial crisis, 2018 Turkish currency crisis and COVID-19 crisis

Sümer

Özorhon

2020

JERER

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Purpose Under the current Coronavirus Disease 2019 (COVID-19) pandemic circumstances where the gold prices are increasing and the stocks are in free fall, this research aims to compare the returns of gold prices and Turkish real estate investment trust (T-REIT) index by covering the 2008 global financial crisis, 2018 Turkish currency crisis and 2020 COVID-19 pandemic-based economic crisis periods and examine the effects of the returns of gold and the T-REIT index on each other, a research area that has been limited in the literature. Design/methodology/approach For the empirical analysis, vector auto regression model was used, and Augmented Dickey–Fuller and Granger causality tests were also conducted. The average returns were compared with the coefficient of variation analysis. Findings The results of the study exhibited that except for the 2008 global financial crisis period, 2018 Turkish currency crisis and 2020 COVID-19 pandemic-based economic crisis, the T-REIT index performs better than gold prices, but it is a riskier instrument, and both investment instruments do not affect the returns of each other. The segmentation of both instruments recommends the fund managers including both tools for diversification of a portfolio. Research limitations/implications In Turkey, gold prices are valued based on the fluctuations of the global gold prices, as well as the Turkish Lira/US Dollar currency exchange rates. The effect of the exchange rates may be considered in future studies, and the study may be conducted based on the USD values of the T-REIT index and global gold prices. Further studies may also include the comparison between the T-REIT index returns and a set of commodities such as the Goldman Sachs Commodity Index. This study covered only the first five months of 2020 to analyze the COVID-19 pandemic-based economic crisis initial effects, and a successor study is also recommended by including more new data of the post-COVID-19 pandemic and comparing both results. Practical implications The results of the research are expected to contribute to the REIT literature and give insight to investors about their investment choices while including both investment tools in their portfolio, especially for the future conditions of the new COVID-19 pandemic-based economic crisis. Social implications The study may provide insight for individuals, especially those who are considering possible investment options in the Turkish real estate market in the post-COVID-19 pandemic crisis. Originality/value Gold and real estate have always been considered as important investment instruments. Gold is commonly accepted as a safe haven in the literature, and the REITs are considered as long-term investment instruments by many scholars. While gold prices increase in the windy periods, the returns of real estate investments have more cyclical movements based on mostly the macroeconomic conditions and its integration with stock markets, yet the real estate is a common long-term investment tool, especially because of the regular income it generates for the retirement years. By covering three crisis periods including the COVID-19 pandemic-based economic crisis effects, making research about two important investment tools would contribute to the literature, especially in which the studies in this area were very limited.

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Section: Introductionmentioning

confidence: 99%

Investing in gold or REIT index in Turkey: evidence from global financial crisis, 2018 Turkish currency crisis and COVID-19 crisis

Sümer

Özorhon

2020

JERER

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“…A successful usage of celebrity endorsement would be Calvin Klein as they managed to tap into Justin Bieber"s fame and influence as the brand launched its spring underwear. Calvin Klein posted its social media advertisements featuring Justin Bieber, generating 1.6 million Twitter mentions and 10.7 million views on YouTube (Calvin Klein, 2015;Ghorashi & Darabi 2017). On top of that, Calvin Klein reported profit from increased sales from Justin Bieber"s endorsement (McGregor, 2016;Olanrele, 2018).…”

Section: Introductionmentioning

confidence: 99%

The Impact of Young Celebrity Endorsements in Social Media Advertisements and Brand Image Towards the Purchase Intention of Young Consumers

Ahmad¹,

Idris²,

Mason³

et al. 2019

IJFR

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Introduction: The power of young celebrities and brand image in influencing young consumers are becoming more relevant in the marketing and advertising of products and services of the plethora of brands we have in the twenty-first century. Businesses and brands use young celebrities to endorse their products to appeal more towards younger consumers. This research investigates the impact of young celebrity endorsements in social media advertisements and brand image towards the purchase intention of young consumers.Methodology: The theoretical framework from Shimp’s TEARS Model of celebrity endorsement is derived from 4 research studies and the variables were tested using 5-point Likert scale on a sample of 282 respondents who are young consumers, aged between 13 to 18 years old. All respondents were recruited using stratified sampling technique and data were analyzed using SmartPLS. The results derived from the data analyses conducted highlights eight main findings.Results: From the TEARS Model, similarity and respect has an influence on celebrity endorsement in social media whereas expertise, physical attractiveness and trustworthiness do not influence celebrity endorsement in social media. Brand image and celebrity endorsement in social media also found to be significant antecedents for the purchase intention. These findings will provide insights to marketer of businesses who requires to understand the attributes of young celebrity endorsements on social media advertisements that will appeal to young consumer. In this technological era, businesses build their brand image via investing in advertising; especially in social media advertising and celebrity endorsements.Recommendations: Following the current findings of the insignificance of expertise, physical attractiveness, and trustworthiness of the celebrity endorsers towards young consumers; marketers should look into similarity and respect qualities of their young celebrity endorsers if they would like to appeal their brands and products to pique the interests of young consumer which now become one of the major group of consumers in the world.

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Examining the Influence of Fairness Perception on Tax Compliance Behavior of the Libya Individual Taxpayers: The Moderating Tax Awareness and Tax Complexity

Sidik

Zandi

Ruhoma

2019

HSSR

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Purpose of Study: This study examines the impact of the perceptions of fairness among Libyan taxpayers in the Libyan income tax system, where a multidimensional model of justice was introduced. This extends the definition of justice from one to distributive fairness and procedural fairness, along with tax awareness and tax complexity as moderators’ variables. This study is one of the first studies that test the impact of tax awareness and tax complexity as moderators’ variables on tax compliance behavior in a country. Methodology: Despite the importance of collecting taxes from individual taxpayers, it is a little known about the behavior of tax compliance in general in the Libyan context. This is important for tax authorities to identify behavioral factors that may hinder the successful tax compliance so that remedial action can be taken to improve compliance behavior. It remains currently a severe challenge for the Libyan tax authorities. Results: The results of this research will contribute significantly to the paucity of current literature on the role of tax awareness and tax complexities as moderators’ variables on tax compliance behavior, particularly in developing countries. The serial exploratory search design will be used in this study. The sub-squares analysis will be used to analyze the surveys.

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Compare Value at Risk and Return of Assets Portfolio Stock, Gold, REIT, U.S. & Iran Market Indices

Abstract: Nowadays investors follow investment in asset like

Cited by 3 publications

References 7 publications

Investing in gold or REIT index in Turkey: evidence from global financial crisis, 2018 Turkish currency crisis and COVID-19 crisis

Investing in gold or REIT index in Turkey: evidence from global financial crisis, 2018 Turkish currency crisis and COVID-19 crisis

The Impact of Young Celebrity Endorsements in Social Media Advertisements and Brand Image Towards the Purchase Intention of Young Consumers

Examining the Influence of Fairness Perception on Tax Compliance Behavior of the Libya Individual Taxpayers: The Moderating Tax Awareness and Tax Complexity

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