Hedging and non-hedging trading strategies on commodities using the d-Backtest PS method. Optimized trading system hedging

The authors examined environmental responsibility and financial performance nexus of Johannesburg Stock Exchange’s socially responsible investing manufacturing and mining firms during the period of 2008-2014. The study employs annual panel dataset of fourteen manufacturing and mining companies on the index, and Granger causality analysis using Gcause2 Baum’s version. The paper found unidirectional causal relationship between environmental responsibility, measured by emissions intensity and equity returns, and bidirectional causal relationship between emissions intensity and market value of equity deflated by sales at 1% significant levels. Impliedly, improvements in ‘energy efficient technologies’ to reduce fossil energy consumption (prevention activities) seem to exhibit value destroying tendencies, while improvements in ‘end-of-pipe’ activities seem to estimate a drive market value of equity deflated by sales and equity returns. The Pesaran CD and Breusch-Pagan LM tests confirmed existence of cross-sectional dependence amongst panel members. The authors tend to support institutional and stakeholder theories.

Since gained its independence in 1991, energy management has become the most important factor in the development of Kazakhstan’s economic and foreign policy. This is due to the presence of widespread deposits of natural energy resources in the bowels of Kazakhstan. This forms the energy security and essential basis for the economic independence of the Republic of Kazakhstan. The study, first of all, looks at Kazakhstan’s foreign policy and the links between foreign policy and energy sources. In particular, attention is paid to the role of oil in shaping Kazakhstan’s foreign policy as an active participant in the highly competitive energy resources market. The energy potential of Kazakhstan, the entry of Kazakh oil into the world market and the obstacles created by Russia for Kazakhstan in this process are investigated next. Other problems in the region are analyzed, including border issues with neighboring countries, as well as the impact of energy demand in China on Kazakhstan’s foreign policy. In this regard, the main focus of the study is the analysis of Kazakhstan’s energy resources rich in oil reserves, and the analysis of the multilateral energy policy of the Astana Government since independence and has been gained since.

Today’s organizations need energetic and engaged employees, those who are interested in their jobs. Generally, the engaged ones love their job and do their job tasks well. If there is no engagement in the organizations, the organization is encountered with serious problems in this ground. This study aims to design engagement assessment model in the organizations and its applied purpose is creating new theoretical basics in the maturity of engagement in the organization and this helps the organizations for better perception and consistency of organizational goals with the goals of employees. The employees of the National Iranian Oil Company constituted the population for this research. The National Iranian Oil Company was selected as the context, because employee engagement has emerged as a critical problem confronting this sector. 356 employees of this company were selected by simple random sampling method and data were collected using a questionnaire. The researcher attempts to answer the question how we can design an engagement assessment model in the organizations. The different dimensions of engagement are identified at individual and organizational levels and then based on the findings, the employees are classified based on the individual and organizational engagement and the results of this study can help the researchers for better recognition of this internal variable and this helps the better understanding of researchers to use it.